Traders are still taking long positions in the Singapore rebar import market due to expectations of near-term price increases, market sources told Fastmarkets.A transaction was recently concluded at $525-527 per tonne cfr Singapore on a theoretical weight basis for Middle Eastern rebar by a trader who plans to resell the cargo later to end users in Singapore, sources said.Fastmarkets' weekly price...Read More
The base metals remain upbeat this morning, Tuesday December 8, and the underlying story remains the same, infrastructure spending, economic recovery, a mass of liquidity and the potential for more US stimulus.Although there are some potential headwinds – political tensions between the United States and China, a no-deal Brexit and a correction in equity prices as harder lockdowns are forced o...Read More
Home Depot (HD), a Dow Jones Industrial Average stock moved below $260.61 completing a Head & Shoulders pattern.Pre-opening Comments for Tuesday December 8thU.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.Index futures were virtually unchanged following release of the second estimate for third quarter U.S. Non-farm Productivity at...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
Here are five Fastmarkets stories you might have missed on Friday December 4 that are worth another look.An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Vale's head of...Read More
With Chinese exports up 21.1% in November year on year, the global economy is looking stronger again, but with the metals mixed on Monday December 7 - having been exceptionally strong recently - perhaps the market realizes a lot of the good news is baked-in already.* Chinese trade balance climbed to $75.4 billion in November, up from $58.4 billion in October* Japan’s leading indicators climbe...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.QUALCOMM added $0.78 to $158.40 after JP Morgan raised its target price from $160 to $158.40.Hershey gained $1.84 to $152.71 after JP Morgan increased its target price from $142 to $160.Boeing (BA $232.71) is expected to open higher after UBS upgraded the stock from Neutral to Buy.McDona...Read More
ArcelorMittal is to increase its official spot offer price for second-quarter rolling hot-rolled coil across Europe to ?,?650 ($788.56) per tonne ex-works effective immediately, sources told Fastmarkets on Friday December 4.They added that the traditional gap between offers in Northern and Southern Europe has now disappeared altogether.Offers of hot-dipped galvanized coil also moved up to ?,?...Read More
An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Trading sources told Fastmarkets that container lines have not only continued to raise freight rates but have also introduced additional measures that will serve to make life increasingly difficult for companies invol...Read More
German steelmaker Thyssenkrupp is conducting a joint feasibility study with energy company STEAG to develop a hydrogen hub to be used in green steel production at its Duisburg site, the company said on Thursday December 3.The study will focus on construction of a water electrolysis plant at the STEAG site in Duisburg-Walsum by Thyssenkrupp Uhde Chlorine Engineers, the structuring of energy supply...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? Flat steel product prices in the United States moved largely in line with our expectations in October, although the increases slightly outpaced our projections. US hot-rolled coil prices averaged $655 per ton in October, exceeding our forecast price of $640 per...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Key ferro-alloy forecast highlights for the coming months:?EUR? A strong recovery in both bulk and noble alloys is expected in 2021 but the markets are unlikely to return to the levels seen before the outbreak of the Covid-19 pandemic. We have seen a quicker-than-expected recovery across various regions amid the economic fal...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Fastmarkets analysts were invited to present our outlook for the coking coal market at Coaltrans Asia, held online on November 23-25. One of the key topics at the event was the trade tensions between China and Australia, which overtook Mongolia to become the largest coking coal exporter to China this year...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More