U.S. equity index futures were higher again this morning. S&P 500 futures were up 18 points in pre-opening trade. Facebook added $4.08 to $329.69 after the company reported higher than consensus third quarter earnings. The company also announced an additional $20 billion share buyback program. MMM added $1.60 to $184.00after reporting higher than consensus third quarter earnings. United Parcel...Read More
Sibanye-Stillwater is in talks to buy the Santa Rita nickel and Serrote copper mines in Brazil from affiliates of funds advised by Appian Capital Advisory LLP, the company said.The South African miner is predominantly a precious metals company, although it produces nickel and copper as by-products and has copper exploration projects in Canada and Argentina."Sibanye-Stillwater hereby advises its sh...Read More
Seaborne iron ore prices were largely stable on Monday October 25, but market sentiment was weak due to poor iron ore and steel demand outlooks, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.08 per tonne,down $0.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.48 per tonne,down $0.41 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne,do...Read More
Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More
Turkish steel mills continued to pay higher prices for deep-sea scrap, with news of a deal for US scrap from Friday pushing up prices on Monday October 25, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (80:20) at $510 per tonne and shredded at $530 per tonne cfr late on Friday October 22. The cargo composition,...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,550-5,600 yuan ($870-877) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Monday, finishing the day at 5,180 yuan per tonne, which...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
The latest data for the global manganese ore market for the week ended Monday October 25.Read More
London Metal Exchange futures prices were broadly up on the morning of Monday October 25, following a substantial sell-off on the previous Friday, with concerns about power restrictions in China supporting higher aluminium prices. Aluminium's three-month price rose the most on Monday, up 2% to $2,926 per tonne at 9am from $2,868 per tonne on Friday, with more than 5,600 lots of the metal traded at...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More
Export prices for reinforcing bar and wire rod originating from the Commonwealth of Independent States surged in the week to Monday October 25, supported by positive market conditions.Firstly, prices from competitive Turkish suppliers increased over the week, supported by growing import scrap and electricity costs in the country.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar...Read More
Bahrain Steel is to convert 2 million tonnes per year of iron ore from the Minas-Rio mine in Brazil into high-quality pellet for multinational mining company Anglo American.Under the three-year agreement, Anglo American will ship 2 million tpy of iron ore (pellet feed) from its Minas-Rio mine in...Read More
Turkish steel mills continued to pay higher prices for deep-sea scrap, with news of a deal for US scrap from Friday pushing up prices on Monday October 25, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (80:20) at $510 per tonne and shredded at $530 per tonne cfr late on Friday October 22. The cargo composition,...Read More
Spain-based ferro-alloys producer Ferroglobe has restarted one of the silicon metal furnaces at its Sabon plant in Galicia, with the company looking to take advantage of record high metals prices, sources in Europe told Fastmarkets.Only one furnace at the Sabon plant has been restarted, the sources said, after the company shut production there a few weeks ago due to a spike in power prices in Spai...Read More
Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,550-5,600 yuan ($870-877) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Monday, finishing the day at 5,180 yuan per tonne, which...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Key data from Fastmarkets' pricing session in China on Friday October 22. Key drivers Antimony prices in China were stable last week in a slow spot market, with most participants opting to stay on the sidelines amid diverging market sentiment. Some participants were optimistic toward the market in the...Read More
Turkish domestic scrap prices continued to rise over the past week amid rising imported scrap values, market sources told Fastmarkets on Monday October 25.And Turkish steelmakers continued their deep-sea scrap bookings from last week despite increasing prices.Steel producers in the country booked five deep-sea cargoes in the week to Friday October 22.In response to the upward movement in the impor...Read More