U.S. equity index futures were lower this morning. S&P 500 futures were down 62 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for February Personal Income was an increase of 0.4% versus a gain of 0.6% in January. Actual was a gain of 0.6%. Consensus for February Personal Spending was an increase of 0.2% versus a...Read More
LeadMini Tips – SELL LeadMini April at CMP 132.80 for Target tomorrow 131.40 – 130.40 with SL Above price 134.05. Risk Taker trade 2 lots Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 25 that are worth another look.German steelmaker Thyssenkrupp has announced that it will go ahead with a restructuring plan that will eliminate 3,000 jobs after reaching an agreement with the workers' trade union, it said on March 25.Falling demand, exacerbated by the novel coronavirus outbreak (2010-nCoV) further causing m...Read More
Copper market participants should have been gathering in Santiago, Chile, for the annual CESCO dinner on Wednesday March 25. Instead, the country's mining industry was nervously eyeing the spread of the novel coronavirus (2019-nCoV) pandemic, and its government was coming under increasing pressure to impose a lockdown similar to what India and South Africa have instituted.Chile has so far restrict...Read More
Europe's third largest lead smelter Recylex will stop all lead production due to weak demand, the company said in an exchange release after market trading on Wednesday March 25."To adapt to the strong drop in demand, especially in the automotive industry, in a context of sharply lower metal prices, [Recylex subsidiary] Weser-Metall GmbH has decided to discontinue production from Thursday March 26,...Read More
Copper market participants should have been gathering in Santiago, Chile, for the annual CESCO dinner on Wednesday March 25. Instead, the country's mining industry was nervously eyeing the spread of the novel coronavirus (2019-nCoV) pandemic, and its government was coming under increasing pressure to impose a lockdown similar to what India and South Africa have instituted.Chile has so far restrict...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 25 that are worth another look.German steelmaker Thyssenkrupp has announced that it will go ahead with a restructuring plan that will eliminate 3,000 jobs after reaching an agreement with the workers' trade union, it said on March 25.Falling demand, exacerbated by the novel coronavirus outbreak (2010-nCoV) further causing m...Read More
Copper market participants should have been gathering in Santiago, Chile, for the annual CESCO dinner on Wednesday March 25. Instead, the country's mining industry was nervously eyeing the spread of the novel coronavirus (2019-nCoV) pandemic, and its government was coming under increasing pressure to impose a lockdown similar to what India and South Africa have instituted.Chile has so far restrict...Read More
Europe's third largest lead smelter Recylex will stop all lead production due to weak demand, the company said in an exchange release after market trading on Wednesday March 25."To adapt to the strong drop in demand, especially in the automotive industry, in a context of sharply lower metal prices, [Recylex subsidiary] Weser-Metall GmbH has decided to discontinue production from Thursday March 26,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 25 that are worth another look.German steelmaker Thyssenkrupp has announced that it will go ahead with a restructuring plan that will eliminate 3,000 jobs after reaching an agreement with the workers' trade union, it said on March 25.Falling demand, exacerbated by the novel coronavirus outbreak (2010-nCoV) further causing m...Read More
Spot market prices for standard-grade and alloy-grade cobalt stabilized on Wednesday March 25 after weakening downstream demand continued to provide pressure earlier in the week.Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $16.15-16.55 per lb midweek, unchanged from Tuesday March 24 and down from $16.30-16.70 per lb on March 20. Fastmarkets' assessment fo...Read More
Europe's third largest lead smelter Recylex will stop all lead production due to weak demand, the company said in an exchange release after market trading on Wednesday March 25."To adapt to the strong drop in demand, especially in the automotive industry, in a context of sharply lower metal prices, [Recylex subsidiary] Weser-Metall GmbH has decided to discontinue production from Thursday March 26,...Read More
The global spread of the novel coronavirus (2019-nCoV) is seriously limiting deep-sea scrap trading in Turkey, with market players also struggling with mill closures, sources said on Wednesday March 25.A number of steel mills in Turkey have stopped or reduced production because of the pandemic. "I heard a steel mill in the Iskenderun region halted production and two steel mills in the Izmir region...Read More
Export prices for Japanese ferrous scrap continued to fall over the week to Wednesday March 25, but tighter supply offered some support to prices for Shindachi busheling, market sources have told Fastmarkets.Japanese scrap traders expected difficulties in procuring Shindachi material in the short term after carmaker Toyota closed several production lines for 3-9 days from Wednesday. And fellow car...Read More
Copper market participants should have been gathering in Santiago, Chile, for the annual CESCO dinner on Wednesday March 25. Instead, the country's mining industry was nervously eyeing the spread of the novel coronavirus (2019-nCoV) pandemic, and its government was coming under increasing pressure to impose a lockdown similar to what India and South Africa have instituted.Chile has so far restrict...Read More
United States politicians agreed a $2-trillion stimulus package to support the US economy during the ongoing novel coronavirus (nCoV 2019) pandemic, and markets, especially equity markets, have reacted well.The Dow Jones Industrial Average (DJIA) closed up by 11.4% on Tuesday March 24, while Asian Pacific equity indices followed up that positive performance with gains of between 2.7% and 8% this m...Read More
Spot market prices for standard-grade and alloy-grade cobalt stabilized on Wednesday March 25 after weakening downstream demand continued to provide pressure earlier in the week.Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $16.15-16.55 per lb midweek, unchanged from Tuesday March 24 and down from $16.30-16.70 per lb on March 20. Fastmarkets' assessment fo...Read More
The Ministry of Transport & Communication in Zambia has recommended the all cross-border cargo shipments be suspended to curb the spread of the novel coronavirus (2019-nCoV), according to a letter seen by Fastmarkets. In the letter, sent on Tuesday March 24, the permanent secretary of the country's transport authority, Misheck Lungu, suggests that the government suspend all cross-bo...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 25 that are worth another look.German steelmaker Thyssenkrupp has announced that it will go ahead with a restructuring plan that will eliminate 3,000 jobs after reaching an agreement with the workers' trade union, it said on March 25.Falling demand, exacerbated by the novel coronavirus outbreak (2010-nCoV) further causing m...Read More
Domestic prices for hot-rolled coil have been fairly stable across Europe due to the limited trading activity that has resulted from the 2019-nCoV coronavirus pandemic, sources told Fastmarkets on Wednesday March 25.This price stability, however, has mainly been supported by the lack of trading and prices were likely to drop sharply when buyers return to the market, they added.To compensate for th...Read More