Broader markets were generally weaker this morning, Thursday June 25, with those equity markets that were open in the Asian-Pacific region mainly weaker by between 1% and 2%.* Pre-market major western equity index futures were down this morning, following Wednesday’s weakness. * Gold prices hold up in high ground around $1,760 per oz.* International Monetary Fund (IMF) cuts world growth forec...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade. Index futures moved slightly higher following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 1,350,000 versus 1,508,000 last week. Actual was.1,480,000. Consensus for first quarter annualized real GDP was a drop of 5.0% versus a gain of 2.0% in the four...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
Hong Kong's Noble Group notched a $206 million loss in the first quarter of 2020, with the company citing the breaking of supply chains due to the Covid-19 outbreak as the key reason for the slump, the trading group announced on Tuesday June 23."Q1 was dominated by the impact of the Covid-19 pandemic, which has had far-reaching implications for every business and sector, including ours," Noble cha...Read More
The LME three-month copper price maintained slim gains made during the day, closing up 0.4% on Tuesday June 23, with high turnover buoyed by US financial stimulus optimism, while stock outflows added further price support. The London Metal Exchange three-month copper price held above the $5,900 per tonne psychological level to close at $5,905 per tonne this afternoon, up from $5,880.50 per tonne o...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
The Covid-19 pandemic and its effects on steel production, mining and manufacturing activity, consumption, trading and logistics have dominated the noble alloys markets in the first half of 2020.Among the complex, the molybdenum market fell the furthest in percentage terms, with ferro-molybdenum prices down by 14% and oxide prices down by 13% in both Rotterdam and Busan.Supply concerns in South Am...Read More
Hong Kong's Noble Group notched a $206 million loss in the first quarter of 2020, with the company citing the breaking of supply chains due to the Covid-19 outbreak as the key reason for the slump, the trading group announced on Tuesday June 23."Q1 was dominated by the impact of the Covid-19 pandemic, which has had far-reaching implications for every business and sector, including ours," Noble cha...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
Hong Kong's Noble Group notched a $206 million loss in the first quarter of 2020, with the company citing the breaking of supply chains due to the Covid-19 outbreak as the key reason for the slump, the trading group announced on Tuesday June 23."Q1 was dominated by the impact of the Covid-19 pandemic, which has had far-reaching implications for every business and sector, including ours," Noble cha...Read More
Turkish steel mills extended their silence in the deep-sea scrap markets, but are now pushing forlower prices, sources said on Tuesday June 23.Turkey's steelmakers have mostly stayed away from the deep-sea market since booking two US cargoes at the beginning of the last week.On Monday June 15, a steel mill in the Izmir region booked a US cargo at $265 per tonne cfr for HMS...Read More
Fastmarkets is inviting feedback from the industry on its pricing methodology for its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 24, 2020, seeks to ensure that our methodology continue...Read More
Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was "fully intact". The fact that a White House official said it was "over" only to retract that later suggests there have at least been discussion...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
Sales of passenger cars in the EU will fall by 25% year on year in the full 2020 because of the Covid-19 pandemic, the European Automotive Manufacturers Association (ACEA) said on Tuesday June 23.The major economic crisis facing the auto industry will see car sales in the European Union tumble by more than 3 million units, with only 9.6 million units expected to be sold this year, compar...Read More
European steelmakers have increased their official offer prices on hot-rolled coil in Northern Europe although trading activity remained low, sources told Fastmarkets on Tuesday June 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?388.00 ($435.58) per tonne on Tuesday, down by ?,?2.11 per tonne from ?,?390.11 per tonne on June 22.The index was down by ?,?3....Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 23 that are worth another look.A recent resurgence of Covid-19 infections in Beijing led to some jitters in China's steel sector in the initial stages of the outbreak, but market participants do not expect this second wave to leave much of an impact on the industry.The aluminium duty-paid market in Europe is set to come under...Read More
Turkish long steel producer Izmir Demir ??elik (ID??) has started to work on plans to double its steel mill capacity, the company said to Turkey's Public Disclosure Platform (KAP) late on Monday June 22.At the company's recent board meeting held on June 22, IDC decided to start the technical project and other research works to increase its steel mill capacity from 1.4 million tonnes per year to 2....Read More