The Chinese ferro-silicon market was unmoved over the past week, but is expected to weaken in line with soft consumer buying interest and futures prices. In Europe, spot ferro-silicon prices have pared losses against tighter availability, although the bounce may be limited given subdued buying interest from steelmakers. Chinese market prepares for price losses while steelmakers show resistance to...Read More
We have long held the view that there is a race against time between the trade disputes tipping the global economy toward recession and a trade deal spurring growth while businesses restock as their confidence recovers. For now, the slip toward recession seems to be winning. Equities in Asia were mixed on Wednesday August 7 after a mixed performance in western markets on Tuesday, but more central...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade. Walt Disney dropped $5.86 to $136.01 after reporting lower than consensus fiscal third quarter earnings. Weight Watchers (WW $21.01) is expected to open higher after reporting higher than consensus second quarter earnings. The company also raised guidance. CVS Health advanced $2.41 to $...Read More
Aluminium premiums were largely stable in the global markets in the week ended Tuesday August 6, except in the US Midwest, where a lack of demand pushed the premium downward. US Midwest premium falls to lowest since March MJP premium stable but some lower deals heard due to financial year-end stock clearing European market flat with activity expected to resume later this month.US Midwest premium s...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 6. Please click...Read More
UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base nearby, sources close to the matter told Fastmarkets on Tuesday August 6.Market participants said that a fire broke out at a nearby military base and an explosion was heard, which led Rusal - the largest aluminium producer outside China - to suspend its operations at...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 6 that are worth another look.Lithium producer Orocobre and joint-venture partner Toyota Tsusho Corp have started construction on what will be the first lithium hydroxide plant in Japan. UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 6 that are worth another look.Lithium producer Orocobre and joint-venture partner Toyota Tsusho Corp have started construction on what will be the first lithium hydroxide plant in Japan. UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base...Read More
Switzerland-based commodities trader Werco Trade has hired metal concentrates trader Theresa Nepote as part of a push to expand the company's commercial capabilities, it said on Tuesday August 6.Nepote will join Werco as a senior trader, enabling the company to diversify into additional markets, the company said. She most recently traded zinc, lead and copper concentrates at Bluequest Resources an...Read More
UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base nearby, sources close to the matter told Fastmarkets on Tuesday August 6.Market participants said that a fire broke out at a nearby military base and an explosion was heard, which led Rusal - the largest aluminium producer outside China - to suspend its operations at...Read More
Prices of ferrous scrap in the Mexican steelmaking hubs of Monterrey and Baj?-o remained stable during the week ended Friday August 2, despite talks of price increases in these regions.In Monterrey, key ferrous scrap prices were stable week-on-week, several sources told Fastmarkets.Fastmarkets' assessment for steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was stable at...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets due to the persistent weak demand for finished long steel products, sources said on Tuesday August 6.Since the mills in the country booked a number of deep-sea cargoes in the week ended July 26, they have made no further purchases.Turkish steel producers want to sell some rebar before making any further deep-sea...Read More
Lithium producer Orocobre and joint venture partner Toyota Tsusho Corp have started construction at what will be the first lithium hydroxide plant in Japan. The Naraha lithium hydroxide plant will be built with a production capacity of 10,000 tonnes per year of lithium hydroxide and is the first of its kind in Japan, using lithium carbonate as feedstock. The companies plan to use lithium carbonate...Read More
The export markets for CIS-origin hot-rolled coil and cold-rolled coil (HRC, CRC) have weakened on soft customers' markets and price competition with other exporters, sources told Fastmarkets on Monday August 5.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $470-485 per tonne on Monday, down from $485-500 per tonne week on week."The local market is weakening here [in...Read More
Prices for flat steel imports into the United Arab Emirates and Saudi Arabia were stable in the week ended Tuesday August 6, with demand weak because of the upcoming Eid al Adha religious holiday next week.The market was expected to improve in the second half of August, when the eid, and the Hajj pilgrimage and holiday seasons, will almost be over.Some deals were placed last week, so buyers did no...Read More
The price of hot-rolled coil in China continued to drop on Tuesday August 6, with sentiment showing a bearish attitude toward price trends.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($525-526) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,730 yuan per tonne, down 20 yuan per tonneTrading was moderate, even if sellers did cut prices, a Shanghai-based trader said.Mills in the...Read More
Prices for rebar imported into the United Arab Emirates have decreased over the past week, with demand only moderate although some deals were heard, sources said on Tuesday August 6.The lower price for imports was because market participants in the Middle East region will be celebrating the Eid al Adha religious holiday most of next week, so some deals were made at discount prices.Domestic rebarLo...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District, decreased over the week ended Monday August 5 because of increased supplies.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Moscow, Russia, including 20% VAT, was 40,000 roubles ($612) per tonne on Monday, down from 41,000-41,500 roubles per tonne a week before."The demand is s...Read More
China's domestic rebar prices held steady on Tuesday August 6, but export prices for the long steel product fell as a result of a weaker yuan. Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($538-542) per tonne, unchangedNorthern China (Beijing): 3,730-3,760 yuan per tonne, unchangedTraders kept prices flat during the day to see how the futures market develops.Sellers would not have been able...Read More
Prices of ferrous scrap in the Mexican steelmaking hubs of Monterrey and Baj?-o remained stable during the week ended Friday August 2, despite talks of price increases in these regions.In Monterrey, key ferrous scrap prices were stable week-on-week, several sources told Fastmarkets.Fastmarkets' assessment for steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was stable at...Read More