U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Johnson & Johnson added $1.75 to $129.55 after a court decision on use of opioids produced by the company resulted in a lower than expected penalty.JM Smucker (SJM $112.93) is expected to open lower after reporting lower than consensus first quarter sales and earnings. Bank of Nova Sc...Read More
(Corrects company name to Antofalla Minerals in paragraph 6,(not Antofagasta Minerals)) By Cassandra Garrison BUENOS AIRES, Aug 26 (Reuters) - Argentina's oppositioncandidate Alberto Fernandez met with mining companies on Mondayin capital Buenos Aires to discuss his plans for the sector, twosources who attended the meeting said. Fernandez, the front-runner for October's presidentialelection, told...Read More
Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week.Meanwhile, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $274.14...Read More
The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.Chinese tariffs on US-made cars and auto parts were placed on hold in April, but the Chinese government reinstated them on Friday August 23. Beijin...Read More
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt's Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the matter being scheduled for...Read More
Turkey's military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey's largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel entered into compulsory liquidation in May 2019 and rece...Read More
Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week.Meanwhile, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $274.14...Read More
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look.The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May.The Chinese government has revived a 25% tariff on imports of US automobiles and a 5...Read More
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look.The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May.The Chinese government has revived a 25% tariff on imports of US automobiles and a 5...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Index futures recovered from overnight losses after the U.S. and China agreed to lower their rhetoric on trade negotiations. Index futures were virtually unchanged following release of the July Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 1.1% versus a revised...Read More
The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.Chinese tariffs on US-made cars and auto parts were placed on hold in April, but the Chinese government reinstated them on Friday August 23. Beijin...Read More
ArcelorMittal Brasil could slightly delay the galvanizing capacity expansion at its Vega do Sul unit as it awaits final approval from the group's board of directors, regional chief executive officer Benjamin Baptista told Fastmarkets on Wednesday August 21.The company is waiting for summer vacations to be over in Europe to present all of the necessary documents to the board, he added. Production i...Read More
Brazilian slab prices remained unchanged during the week ended August 23, amid opposing price signs and few reported deals.Fastmarkets' weekly assessment of steel slab export, fob main port Brazil, remained at $425-435 per tonne fob on August 23, stable from the previous week.Most destinations of Brazilian slab were Canada, Europe and Mexico, sources said. Producers were aiming at prices at least...Read More
The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.Chinese tariffs on US-made cars and auto parts were placed on hold in April, but the Chinese government reinstated them on Friday August 23. Beijin...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The London Metal Exchange three-month nickel price lost gains made over the course of the trading day to close at $15,665 per tonne on Friday August 23, down 1.3% from the intraday high of $15,860 per tonne, despite a healthy 11,294-lot turnover, the highest since August 8. A significant 22,620 lots were traded on August 8 when a short-covering rally driven by Chinese investment buyers pushed the...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Treatment and refining charges (TC/RCs) for spot copper concentrates rose marginally in mid-August following five consecutive weeks of declines, with few smelters in the market buying tonnages at stable terms.Fastmarkets' copper concentrate TC/RC index basis cif Asia Pacific rebounded to $50.20 per tonne/ 5.02 cents per lb on August 23, up from $49.60 per tonne/ 4.96 cents per lb a week ago - whic...Read More
The auctions of aluminium ingots, alumina and copper cathodes by Qingdao Intermediate People's Court have ended this week, with Europe-based trading houses winning some of the listings, according to official auction documents from JD.com dated Friday August 23. The significant quantity of metal was impounded in 2014 during a government crackdown over the misuse of collateral for financing metals i...Read More
An overview of the battery raw materials markets and their latest price moves.Read More