Higher oil prices are not going to do the manufacturing sector any favors, other than in parts of the oil industry itself, and that seems to be being reflected in the markets where prices are under pressure again this morning, Tuesday September 17.For now, the rally on optimism that an interim United States-China trade deal may be forthcoming seems to have been overtaken by concerns over what dama...Read More
Following is a link:http://www.equityclock.com/2019/09/16/stock-market-outlook-for-september-17-2019/Note seasonality charts on Crude Oil Days of Supply and Empire State Manufacturing Survey. ObservationsCommodity prices spiked (primarily energy prices). StockTwits released yesterday @EquityClockTSX Energy iShares $XEG.CA moved above $9.17 extending an intermediate uptrend. Other Canadi...Read More
Over the past week the metals have looked stronger and some dovish comments by United States President Donald Trump over US-China trade relations seem to have provided a slight confidence boost, but headwinds are being felt this morning, Monday September 16.An 11% rise in crude oil prices to above $71 per barrel this morning following an attack on a Saudi Arabian oil refinery, combined w...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 10points in pre-opening trade. Index futures responded to a drone strike on Saudi Arabia's oil production facilities over the weekend. Crude oil jumped $5.31 to $60.16 per barrel and gold added $12.30 to $1511.80 per ounce on the news. Oil stock prices moved higher. Index futures were virtually unchanged following re...Read More
A plunge in ferrous scrap prices and a negative trend in most global steel markets resulted in falling billet prices in almost all regions during the week ended Friday September 13.Prices in the Commonwealth of Independent States fell due to lower bids in buying outlets such as Turkey, the Middle East and Egypt. In Southeast Asia, a price war among Russian and Indian producers drove prices lower.G...Read More
A plunge in ferrous scrap prices and a negative trend in most global steel markets resulted in falling billet prices in almost all regions during the week ended Friday September 13.Prices in the Commonwealth of Independent States fell due to lower bids in buying outlets such as Turkey, the Middle East and Egypt. In Southeast Asia, a price war among Russian and Indian producers drove prices lower.G...Read More
Here are five Fastmarkets MB stories you might have missed on Friday September 13 that are worth another look.The London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing's unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13.In battery raw materials, the lithium hydroxide...Read More
Here are five Fastmarkets MB stories you might have missed on Friday September 13 that are worth another look.The London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing's unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13.In battery raw materials, the lithium hydroxide...Read More
The pellet segment of the seaborne iron ore market is starting to show signs of moving from annual contracts to shorter-term ones.The recent drop in iron ore prices amid improvements in Brazilian and Australian supply and a weak global steel market have led to buyers renegotiating the premium they had agreed with Brazil's Vale under annual contracts for pellet shipments to be made in the last thre...Read More
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More
Poor demand and ongoing bearish sentiment surrounding the European economy continued to keep premiums for aluminium foundry in the region tepid on Friday September 13.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, unchanged from August 9. On the same day, Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium, ddp...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday September 13, with the price near the $6,000 per tonne resistance level and closing at its highest level since July 29, while tin's outright price fell over the afternoon.Copper futures closed at $5,974.50 per tonne in the afternoon, exceeding its 100-day moving-average at $5,925 per tonne and ap...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in China, Europe, Asia and the United States for the week ending Friday September 13. China Chrome ore prices dropped after disappointing September ferro-chrome tender prices dented smelters' appetite to buy and some producers lowered their offer prices to secure liquidity. The imported charge chrome market was steady due to a supply of shortfall in S...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 their latest price moves.Read More
Poor demand and ongoing bearish sentiment surrounding the European economy continued to keep premiums for aluminium foundry in the region tepid on Friday September 13.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, unchanged from August 9. On the same day, Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium, ddp...Read More
Global ferrous scrap prices continued to move down across all the major scrap markets during the week ended Friday September 13, with buyers postponing buying activity in the expectation of securing lower prices after prices fell in Turkey, turning worldwide sentiment negative. Fresh Turkey bookings continue downward price trend US prices fall on recent cargoes Taiwan, Vietnam prices down on weak...Read More
Steelmakers in Germany have settled their monthly scrap contracts for September at prices that were down by an average of ?,?25 ($28) per tonne from last month, sources told Fastmarkets on Friday September 13.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap) domestic, delivered mill Germany, was at ?,?225-235 per tonne on Friday, down by $20-25 per tonne from...Read More