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U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. The Canadian Dollar moved slightly higher at U.S. 75.95 cents following release of August Canadian Housing Starts at 8:15 AM EDT. Consensus was a drop to 212,500 from 222,000 in July. Actual was 226,600.Wendy's dropped $1.43 to $20.52 after reducing its 2019 guidance. Ford dropped $$0.28...Read More
Here are five Fastmarkets MB stories you might have missed on Friday September 6 that are worth another look.There was an air of optimism among copper participants attending a conference in the Chinese city of Qiqihar on Thursday September 5, with many there telling Fastmarkets they had heard deals and offers for copper cathode at higher levels than in recent weeks due to improving market fundamen...Read More
Here are five Fastmarkets MB stories you might have missed on Friday September 6 that are worth another look.There was an air of optimism among copper participants attending a conference in the Chinese city of Qiqihar on Thursday September 5, with many there telling Fastmarkets they had heard deals and offers for copper cathode at higher levels than in recent weeks due to improving market fundamen...Read More
Here are five Fastmarkets MB stories you might have missed on Friday September 6 that are worth another look.There was an air of optimism among copper participants attending a conference in the Chinese city of Qiqihar on Thursday September 5, with many there telling Fastmarkets they had heard deals and offers for copper cathode at higher levels than in recent weeks due to improving market fundamen...Read More
Following is a link:http://www.equityclock.com/2019/09/06/stock-market-outlook-for-september-9-2019/Note seasonality charts on U.S. Non-farm Payrolls and Canadian EmploymentThe Bottom LineWorld equity markets moved higher last week despite elevated volatility. Equity markets have a history of elevated volatility at this time of year with a flat/downward bias from mid-July to mid-October. Supplemen...Read More
European buyers of imported hot-rolled coil (HRC) are expected to switch from Turkish material to products from India, Asia and Serbia, market sources told Fastmarkets this week.The European Commission (EC) recently presented a draft of adjusted measures including a 30% limit to the market share of the global quota that can be taken up by any single country that supplies HRC to Euro...Read More
A tighter supply-demand balance for iron ore at Chinese ports coupled with sharp price decreases in the seaborne market have led to the steelmaking raw material being sold at large premiums at the docks in China.Fastmarkets' implied China port price for 62% Fe iron ore fines, fot Qingdao was $10.18 per tonne higher than its index for 62% Fe iron ore fines, cfr Qingdao on August 5. This is the wide...Read More
Demand for flat steel products in Turkey was weak in August because of the seasonal summer slowdown as well as falling prices, market participants have told Fastmarkets.And local producers have now filled their order books until late October, they said on Thursday September 5.Turkish steel prices increased on May 17 after the import duty into the United States, which was applied at a rate of 50% i...Read More
The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal's forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains. Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned to the August average of below 10,000 lots. Mor...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Barring copper and zinc, base metal stocks at Shanghai Futures Exchange-approved warehouses fell in the week to Friday September 6, with the biggest percentage fall in lead stocks, which tumbled by 16.3% or 5,081 tonnes to 25,998 tonnes. The largest outflow in lead inventories was registered at Zongchu Wuxi's warehouse in Jiangsu, which delivered out 2,863 tonnes leaving 8,641 tonnes of material,...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 and the United States for the week ending Friday September 6. Europe The high carbon ferro-chrome market rose for the first time since the week ended March 29 when the market was assessed at $0.98-1.18 per lb. The market narrowed upward after some sellers successfully raised their offer prices although demand remained weak. Othe...Read More
Albania-based chrome ore miner and high carbon ferro-chrome smelter Albchrome has extended the maintenance period of two of its furnaces for an additional three months, the company said on Friday September 6. Albchrome is undertaking maintenance at one furnace at its Burrel plant and another at its Elbasan plant. Both plants are only operating at 50% capacity during the works, according to a compa...Read More
An overview of the minor metals markets and their latest price moves.Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Global ferrous scrap prices plunged worldwide over the week ended Friday September 6, with buyers expecting more price falls in the near term after key Turkish mills bought cargoes at prices lower than the latest previous transactions.Key buyers in Turkey, Vietnam and South Korea were looking for bargains and bought cheap imported cargoes, but other market participants have remained in wait-and-se...Read More
Prices of austenitic alloy steel scrap in the UK domestic market were stable this week at last week's closing level amid relatively stable nickel prices, sources told Fastmarkets on Friday September 6. A surge in the nickel contract on the London Metal Exchange on August 30 of 9.6% day on day resulted in higher scrap prices, which in turn widened upward the range of scrap prices for that week. Nic...Read More
Turkish steel producers stepped back from the market on Friday September 6 - no new bookings were heard following a series of price falls this week, sources said.Three bookings on Tuesday lowered prices by $12.30 per tonne from Monday. A steel mill in the Marmara region purchased a UK cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $250 per tonne cfr. A steel mill in the Izmir region booked a...Read More