A summary of the fourth-quarter and full-year 2019 financial results for Switzerland-based special and stainless steel producer Schmolz + Bickenbach (S+B).In briefThe company reported that the challenge in all its markets was having a significant effect on its financial figures. It also cited an "unusually strong and prolonged decline in demand" for all its main products, which led to a significan...Read More
Stainless steel prices in China have plunged over the past week on growing inventory levels, although market participants were optimistic that domestic demand showed signs of improvement."It's likely that Chinese prices are close to bottoming out because most companies have already resumed operations," a trader in northern China said.The lack of significant declines in raw material costs could als...Read More
The Dow Jones Industrial Average Index (DJIA) closed down by 10% on Thursday March 12, taking the loss from the February high to 28.3%, while the London Metal Exchange three-month base metals at their recent lows have been down by an average of 16% - ranged between 10.4% for aluminium and 22.2% for zinc.DJIA futures were up by 1.6% in pre-market trading at 6.45am on Friday morning, although most A...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 126 point limit in pre-opening trade. Investors are anticipating launch of a fiscal stimulus program by the U.S. Congress.Apple advanced $19.47 to $267.70 after Wells Fargo upgraded the stock from Equal Weight to Overweight. Adobe jumped $19.79 to $304.79 after JP Morgan upgraded the stock from Neutral to Overweight. G...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on March 11.The first deal for second-quarter aluminium ingot supply to Japan has been...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 11.Please click...Read More
The London Metal Exchange three-month nickel price declined at the close of trading on Wednesday March 11, weakening against continued risk-aversion, while lead futures failed to hold above $1,800 per tonne. Nickel's outright price on the LME closed at $12,420 per tonne this afternoon, falling from an intraday high of $12,905 per tonne, while turnover was high with more than 9,500 lots exchanged b...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on March 11.The first deal for second-quarter aluminium ingot supply to Japan has been...Read More
Chile recorded a 0.4% year-on-year increase in copper production during January, as higher output from Escondida and Collahuasi offset declines from Codelco, Anglo American Sur and BHP's Spence, according to copper commission Cochilco.The country produced 459,100 tonnes of copper content in the first month of 2020, compared with 457,100 tonnes a year earlier, the commission said on Tuesday March 1...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on March 11.The first deal for second-quarter aluminium ingot supply to Japan has been...Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
Turkish steel mills remained inactive in the deep-sea scrap import markets on Wednesday March 11 because of firm prices and weak billet and rebar markets, sources said.Although there have been no new bookings so far this month, suppliers have kept their offers largely stable.Offers for HMS 1&2 (80:20) from the United States remained at $280 per tonne cfr, while offers for similar material increase...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 11.Key drivers:Price range widens, marking the first move in five weeks, with the bottom end dropping ten cents amid no trades reported in Europe. One sale of around 50 tonnes reportedly done in China at...Read More
Japanese export ferrous scrap prices have declined for a second consecutive week with a stronger yen making material from the East Asian country less attractive, sources told Fastmarkets on Wednesday March 11.Fastmarkets' price assessment for steel scrap H2 export, fob main port Japan, settled at ?22,500-23,000 ($215-220) per tonne on Wednesday, down by ?500-800 per tonne week on week from ?23,...Read More
Base metals were mixed this morning, Wednesday March 11, while the pre-market Dow Jones Industrial Average Index (DJIA) was off by 700 points, this after a 1,167-point rise on Tuesday.Markets were disappointed that US President Donald Trump did not announce concrete stimulus/support measures on Tuesday, but measures are still expected in the United States sometime soon and the Wednesday's annual b...Read More
Key data from the pricing session in Shanghai on Wednesday March 11. Key drivers Cautious downstream buying following a plunge in futures prices on Monday pushed the metal price down, though most consumers have resumed normal operations.Market participants anticipate an oversupply in the domestic market...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on March 11.The first deal for second-quarter aluminium ingot supply to Japan has been...Read More
The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on Wednesday March 11.On March 9, Italian authorities extended the lockdown from northern areas across the whole country in an attempt to control the outbreak of the 2019-nCoV coronavirus.Long...Read More
Domestic prices for hot-dipped galvanized coil (HDG) have been unchanged across Europe this week despite a decrease in prices for hot-rolled coil feedstock, sources told Fastmarkets on Wednesday March 11.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was unchanged over the week at ?,?600-610 ($681-692) per tonne ex-works on March 11.The assessment was based on d...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on March 11.The first deal for second-quarter aluminium ingot supply to Japan has been...Read More