Here are five Fastmarkets stories you might have missed on Thursday November 26 that are worth another look.Italian steel unions have expressed growing concerns over the future of the Taranto steel plant and jobs in the city, with ArcelorMittal Italia expected to soon agree to a deal that would...Read More
Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers’ index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.Chinese manufacturing PMI climbed to 52.1 in November, up from 51.4 in October. The non-manufacturing PMI climbed to 56.41 in November, up from 56.2 in October.Base met...Read More
Xilinx (XLNX), a NASDAQ 100 stock moved above $137.99 to an all-time high extending an intermediate uptrend. Germany iShares (EWG) moved above $30.75 to a 33 month high extending an intermediate uptrend. Pre-opening Comments for Monday November 30thU.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. The U.S. Dollar Index continued m...Read More
Copper's three-month price was the star performer on Friday November 27, rising by nearly 4.5% from Monday's closing price, with most other base metals managing to set fresh year-to-date highs. Copper's 5pm closing price was $7,499.50 per tonne on Friday, rising by 1.3% day on day and up 4.48% from Monday's closing price of $7,117.50 per tonne.Earlier in the day it&nb...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Fastmarkets' copper concentrates treatment charge/ refining charge (TC/RC) index fell to an all-time low since 2013 in the week to Friday November 27. Offers to smelters were maintained in the $40s with purchases reported in the high $40s for 2021 January shipment and the low $50s for slightly complex concentrates, which were excluded from the index calculation. Only hand-to-mouth purchases w...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 27. China Thin liquidity dominated seaborne low- and high-grade manganese ore markets with market participants waiting for miners' next offer prices. Portside manganese ore prices of both grades slid further amid lukewarm buying activity. In China's spot silico-manganese mar...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Fastmarkets' copper concentrates treatment charge/ refining charge (TC/RC) index fell to an all-time low since 2013 in the week to Friday November 27. Offers to smelters were maintained in the $40s with purchases reported in the high $40s for 2021 January shipment and the low $50s for slightly complex concentrates, which were excluded from the index calculation. Only hand-to-mouth purchases w...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Cristina Belda and Declan Conway contributed to this...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Global ferrous scrap prices continued on an upward trend due to supply tightness and strong demand by steelmakers in the week ended Friday November 27.Strong demand in Turkey to feed domestic, export marketsLimited transactions in US because of Thanksgiving holidayStrong demand in Vietnam on supply shortageContainer shortages in Taiwan support import pricesIndian prices move upward once more.Turke...Read More
Turkish steel mills continued their deep-sea scrap bookings for January shipment and prices continued to climb on Friday November 27, supported by strong demand in the country's finished steel markets.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $350.50 per tonne and 7,000 tonnes of bonus scrap at $360.50 per tonne cfr.And a steel...Read More
The price of shredded steel scrap imported into India and Pakistan moved up on Friday November 27, due to continuing logistic issues and a rising international market, sources have told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $365.18 per tonne on Friday, up from $355.76 per tonne one week earlier.Just one deal was reported this w...Read More
The base metals remain buoyant on good volumes this morning, Friday November 27, but equity indices were looking mixed.Chinese industrial profits surged by 28.2% year on year in October - the fastest pace since early 2017 Base metals The three-month base metals prices on the London Metal Exchange were up across the board this morning with gains averaging 0.5% - led by a 0.9% rally in nickel to $16...Read More
The Chinese domestic battery-grade lithium carbonate price moved up by 2.4% on Thursday November 26, resuming the uptrend that began in mid-October as a result of resolutely high offers from producers and tight spot supply.Bullish sentiment and high offer prices push China's battery-grade lithium carbonate assessment up again. China's industrial-grade lithium carbonate prices also moved up on tigh...Read More
Wanbao Mining's Kamoya copper and cobalt project in the Democratic Republic of Congo (DRC) has started testing operations for its second-phase expansion and produced its first batch of cobalt hydroxide on November 15, the company said on Monday November 23. A company source told Fastmarkets between now and the end of this year, the company will adjust and optimize the specifications and quality of...Read More
Import prices for flat-rolled steel continued to rise in South America during the week ended on Friday November 27, with Chinese mills presenting higher offers and clients rushing to settle the last deals for January-shipment cargoes.The prices on products from all origins also edged up, and lower availability supported those higher prices, according to market participants.Buyers were now bracing...Read More
Indian steel mills were likely to increase the domestic price of hot-rolled coil by 1,500-2,000 rupees ($20-27) per tonne for December sales, Fastmarkets heard on Friday November 27.The likely rise in domestic HRC prices in early December would be in line with the rising price of the commodity in the international markets as well as the steady rise in the costs of raw materials such as iron ore...Read More