The silicon metal market in the United States moved higher for the first time in two years, with suppliers raising prices largely due to reduced global supply of cheap material from China as a result of the Wuhan novel coronavirus.Independent of that, other low-priced suppliers have reportedly revised their pricing policies this year, deeming their earlier prices unsustainably low.Fastmarkets asse...Read More
BNP Paribas will take on the over-the-counter (OTC) base and precious metal clients of fellow French bank Soci?(C)t?(C) G?(C)n?(C)rale (SocGen), which is reducing its commodities exposure, both companies confirmed to Fastmarkets on Tuesday February 11.SocGen announced last April that it would be closing its OTC and proprietary commodities trading business, including metals, as part of a global cos...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Hanwa expects to incur an annual loss of more than ?6.5 billion ($59 million) on its 20% stake in Samancor amid challenging ferro-chrome market conditions, the Japanese trading house said on Wednesday February 12.Difficulties facing the South African ferro-chrome producer have led Hanwa to review Samancor's business plans and its interests in the company, the trading house said. Hanwa attributed...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 12.Key drivers The price range for ferro-titanium has been stable over the past week, with suppliers holding their offer prices against steady but low-key demand from consumers. No deals were reported, apart from in the scrap market where there were reports of almost 40 tonnes bought in the UK at the top end of the latest a...Read More
Stainless steel prices in the United States were mostly flat to lower month on month in February, despite reports that surcharges rose modestly and base prices were unchanged.Orders for stainless steel products have surged recently after surcharges came down in January and service centers sought to build up their inventories, which had fallen to low levels in December, according to a Midwestern di...Read More
Transport restrictions in China affecting raw material supply amid the coronavirus outbreak have led to a more active molybdenum spot market in China and as a result have lifted prices in South Korea and Europe. Low inventories in China have forced buyers there to import more material and subsequently drive the alloy and oxide prices to their highest levels since October 2019, according to Fastmar...Read More
Fastmarkets is extending the consultation period for its proposal to launch four Japanese export ferrous scrap prices by one week, and will launch one Vietnam H2 price of Japanese origin later this week.At the start of the pricing consultation for four Japan export scrap price assessments and one Vietnam import scrap price on January 7, the initial date slated for the launch of four Japan exp...Read More
Prices for ferrous scrap in the Mexican domestic market were down in four grades and stable in five other grades in the week ended Friday February 7, with consumers attempting to reduce prices but meeting resistance from sellers.At least two scrap consumers in the region around the city of Monterrey announced price cuts for several grades last week, in the range of 100-150 pesos ($5-8) per tonne.M...Read More
The Turkish deep-sea scrap import markets have gone quiet after suppliers withdrew their offers on the expectation of higher prices, sources said on Tuesday February 11.The mills have been seeing some improvement in demand for material over the past week, following a sharp decline in prices.Turkish deep-sea scrap import prices fell sharply on February 4, on news of fresh cargoes being booked.And f...Read More
A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.The sudden jump in the number of new cases reported was due to a change in how the infection is being reported, rather than a sudden jump in people actually being infected. The latest da...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade. Index futures responded to news of a spike in reported coronavirus cases in China. The Shanghai Composite Index dropped 20.83 to 2905.07 in overnight trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was a...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 11.Click on...Read More
London Metal Exchange base metals prices were trading up at the close on Tuesday February 11, bolstered by a fresh injection of capital from the People's Bank of China (PBoC). China's central bank put 900 billion yuan ($129 billion) into China's economy on February 10 in a bid to fight off stagnation in the face of the Wuhan coronavirus pandemic, which has given rise to significant disruptions in...Read More
BNP Paribas will take on the over-the-counter (OTC) base and precious metal clients of fellow French bank Soci?(C)t?(C) G?(C)n?(C)rale (SocGen), which is reducing its commodities exposure, both companies confirmed to Fastmarkets on Tuesday February 11.SocGen announced last April that it would be closing its OTC and proprietary commodities trading business, including metals, as part of a global cos...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 11 that are worth another look.A block on the World Trade Organization's dispute settlement process has paralyzed progress in steel cases, including those pertaining to Section 232, which could result in a disparity between steel prices in the United States and those in the rest of the world, according to two trade expe...Read More
BNP Paribas will take on the over-the-counter (OTC) base and precious metal clients of fellow French bank Soci?(C)t?(C) G?(C)n?(C)rale (SocGen), which is reducing its commodities exposure, both companies confirmed to Fastmarkets on Tuesday February 11.SocGen announced last April that it would be closing its OTC and proprietary commodities trading business, including metals, as part of a global cos...Read More
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday February 7.United StatesKey drivers Prices in the US increased for the first time since February 2018, with suppliers raising their offer prices, partly due to reduced global supply of cheap material from China as a result of logistical issues stemming from the outbreak of the novel coronavirus (2019...Read More
Prices for ferrous scrap in the Mexican domestic market were down in four grades and stable in five other grades in the week ended Friday February 7, with consumers attempting to reduce prices but meeting resistance from sellers.At least two scrap consumers in the region around the city of Monterrey announced price cuts for several grades last week, in the range of 100-150 pesos ($5-8) per tonne.M...Read More
The Turkish deep-sea scrap import markets have gone quiet after suppliers withdrew their offers on the expectation of higher prices, sources said on Tuesday February 11.The mills have been seeing some improvement in demand for material over the past week, following a sharp decline in prices.Turkish deep-sea scrap import prices fell sharply on February 4, on news of fresh cargoes being booked.And f...Read More