Markets were generally buoyant this morning, Tuesday November 17, following news that a second coronavirus vaccine is showing good results, which is underpinning many equity indices at or near record highs, although the base metals on the London Metal Exchange were consolidating.* Asian Pacific equities were mainly higher, following gains on major western equity indices on Monday...* ...but major...Read More
Royal Bank (RY), a TSX 60 stock moved above $101.71 resuming an intermediate uptrend. Pre-opening Comments for Tuesday November 17thU.S. equity index futures were lower this morning. S&P 500 futures were down 24 points in pre-opening trade. Index futures were virtually unchanged following release of October Retail Sales at 8:30 AM EST. Consensus was an increase of 0.5% versus a gain of 1....Read More
Here are five Fastmarkets stories you might have missed on Friday November 13 that are worth another look.Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on November 13.Chilean copper producer Codelco has decided to extend...Read More
Here are five Fastmarkets stories you might have missed on Friday November 13 that are worth another look.Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on November 13.Chilean copper producer Codelco has decided to extend...Read More
Here are five Fastmarkets stories you might have missed on Friday November 13 that are worth another look.Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on November 13.Chilean copper producer Codelco has decided to extend...Read More
Here are five Fastmarkets stories you might have missed on Friday November 13 that are worth another look.Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on November 13.Chilean copper producer Codelco has decided to extend...Read More
Here are five Fastmarkets stories you might have missed on Friday November 13 that are worth another look.Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on November 13.Chilean copper producer Codelco has decided to extend...Read More
Here are five Fastmarkets stories you might have missed on Friday November 13 that are worth another look.Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on November 13.Chilean copper producer Codelco has decided to extend...Read More
Copper moved above $3.218 per lb. to a 29 month high extending an intermediate uptrend. Walmart (WMT), a Dow Jones Industrial Average stock moved above $151.33 to an all-time high extending an intermediate uptrend.Aerospace & Defense ETF (PPA) moved above $64.03 resuming an intermediate uptrend. Pre-opening Comments for Monday November 16thU.S. equity index futures were higher this mornin...Read More
Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on Friday November 13.Tata Steel has also initiated the process of splitting its main European operations - Tata Steel Netherlands and Tata Steel UK - with the aim of pursuing separate strategic paths for the two businesses. "Tata Steel...Read More
Continued growth in China's automotive sales and output during October has underpinned prices for some key upstream raw materials.China produced a total of 2.55 million vehicles last month, an increase of 11% from a year earlier, according to data released by the China Association of Automobile Manufacturers (CAAM) on Wednesday November 11. This marked the seventh consecutive month that both outpu...Read More
A radical shake-up of the European Union's waste shipment regulations could lead to a total ban or the implementation of controls on scrap metal exports from the territory, Fastmarkets understands.The European Commission is reviewing EU rules on waste shipments to encourage more recycling within the EU and is exploring ways to reduce the exports of such materials.EU lawmakers have been m...Read More
Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...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.Flat product prices in the US moved largely in line with our expectations in October, posting impressive gains across the product range, and slightly exceeding our forecasts for coil products.Domestic hot-rolled coil prices averaged $722 per tonne in October, exceeding our forecast of $705 per tonne forecast price.Although w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Approaching the end of the calendar year, steelmakers and consumers enter a busy period of contract negotiations for supply for 2021 or at least the first quarter or half year.With the sharp increases in spot market steel prices during recent months, steelmakers are understandably looking to take advantage and secure higher c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US ERW OCTG edges higher, seamless could followRising substrate costs helped support US ERW OCTG prices this month, especially at the upper end of the range of offers. Seamless OCTG and linepipe prices, meanwhile, held firm compared with September prices. The fundamentals remain weak, with rig counts going up...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for most ferro-alloys maintained their upward momentum into October, solidifying previous gains and reflecting the improved demand from steelmakers, the rebuilding of depleted inventories, and the supply-side concerns following both planned and unplanned outages. Gains were noted for ferro-silicon, silicon metal, mang...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloys forecast highlights:Prices across most ore and alloy markets trended higher in September, buoyed by improving demand from steelmakers with the end of the summer holiday season in Europe and the United States, as well as maintained demand from Chinese steel mills. Tightening of alloy inventories...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore remains the most bullish commodity of the year, with prices fuelled by Chinese demand and supply disruptions in Brazil, along with bullish sentiment. But prices are expected to come down because Brazilian exports have begun to recover, and have reached their highest level since the Brumadinho dam disaster in 2019. W...Read More