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U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Johnson & Johnson gained $2.56 to $133.28 after reporting higher than consensus third quarter earnings. The company also raised guidance.JP Morgan added $2.14 to $118.59 after reporting higher than consensus third quarter earnings. The company also raised guidance. Goldman Sachs droppe...Read More
Here are five Fastmarkets MB you might have missed on Friday October 11 that are worth another look.Most of the import prices for flat-rolled steel products were stable during the week ended October 11 in South America, because Chinese mills did not significantly change offers made before their Golden Week holiday, which ended on October 7.Miners MMG and Citic Metal have declared force majeure on...Read More
Global billet prices were given a boost during the week to Friday October 11 by an improvement in steel scrap import prices in the bellwether Turkish market and the return of Chinese buyers to the import markets.Turkish scrap prices rose after news emerged that a steelmaker in the country had booked a scrap cargo containing an 80:20 mix of No1 and No2 heavy melting scrap from the United States at...Read More
Global billet prices were given a boost during the week to Friday October 11 by an improvement in steel scrap import prices in the bellwether Turkish market and the return of Chinese buyers to the import markets.Turkish scrap prices rose after news emerged that a steelmaker in the country had booked a scrap cargo containing an 80:20 mix of No1 and No2 heavy melting scrap from the United States at...Read More
Here are five Fastmarkets MB you might have missed on Friday October 11 that are worth another look.Most of the import prices for flat-rolled steel products were stable during the week ended October 11 in South America, because Chinese mills did not significantly change offers made before their Golden Week holiday, which ended on October 7.Miners MMG and Citic Metal have declared force majeure on...Read More
Here are five Fastmarkets MB you might have missed on Friday October 11 that are worth another look.Most of the import prices for flat-rolled steel products were stable during the week ended October 11 in South America, because Chinese mills did not significantly change offers made before their Golden Week holiday, which ended on October 7.Miners MMG and Citic Metal have declared force majeure on...Read More
The metals market remains cautious because there still seems a long way to go before a United States-China trade deal can be reached. Asian equities are firmer across the board because at least some progress was made on trade talks. Haven assets are weaker with US ten-year treasury yields strong and gold prices weaker. Base metals Three-month base metals prices on the London Metal Exchan...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Copper closed only slightly higher on Friday on the London Metal Exchange despite price-supportive news of force majeure being declared at the Las Bambas copper mine in Peru.The three-month copper price ended at $5,796 per tonne, a mere 0.2% higher than Thursday's close, even after the declaration of force majeure by miners MMG and Citic Metals at Las Bambas, which will affect the supply of copper...Read More
All base metal stocks in Shanghai Futures Exchange-approved warehouses, except tin, rose in the week to Friday October 11, after trading activity resumed following the end of the week-long Golden Week holiday in China. Copper stocks registered the largest increase in percentage terms, rising by 13.9% or 16,401 tonnes from September 30, to 134,509 tonnes as of Friday. The largest inflow in cop...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 11. Europe The high carbon ferro-chrome market nudged upwards after several producers lowered their exposure to the spot market. But demand remains weak - production and prices in the Europe stainless...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Ferrous scrap prices strengthened in the latest US sales to Turkey during the week to Friday October 11, but market participants were unsure about a recovery as demand for finished steel was still limited in most markets. Increasing political tensions in Turkey keep mills away from scrap markets US export prices improve in the East Coast market with sales to Turkey Ferrous scrap prices...Read More
Austenitic steel scrap prices in Europe and UK may have found the market floor after a month of substantial decreases, while chrome steel scrap prices have fallen sharply on weak demand and low ferrous costs, Fastmarkets heard on Friday October 11."I think [austenitic] prices have found a new level after the significant drops we have had in the past month," one scrap trader said. "Material has sta...Read More
The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 11, extending stability after losses in September against a small recovery in European export prices to traditional markets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($74-98) per tonne on Friday.European steel scrap p...Read More
There is some cautious optimism over United States-China trade negotiations after US President Donald Trump described the talks as "very, very good" and said he would meet Chinese Vice Premier Liu He in the White House on Friday October 11.But, we have been here before so it is probably best not to anticipate too much - indeed, with the base metals generally rangebound this morning that seems to b...Read More
An overview of the battery raw materials markets and their latest price moves.Read More