U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. U.S. equity index futures were quiet prior to release of economic news at 8:30 AM EDT. Consensus for August Non-farm Productivity is an increase of 2.4% versus a gain of 2.3% in July. Consensus for the July U.S. Trade Deficit is $75.10 billion versus $75.70 billion in June. The Canadian D...Read More
A closed arbitrage for imports into China reduced interest for spot trades and, subsequently, premiums eased in Shanghai, but in Southeast Asia and the United States premiums were stable. Closures related to Covid-19 in the region and better import opportunities into China are keeping Southeast Asia premiums steady. High freight and logistics costs are supporting US copper premiums at their h...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 1.Please click...Read More
Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More
Spot prices for containerized steel scrap imported into Taiwan continued to rise on Wednesday September 1 amid high freight costs from the United States' West Coast to Taiwan and a lack of container vessels and freight space. Taiwan pays $448 per tonne for containerized scrapChina reports renewed interest for scrap importsCovid-19 pandemic weighs on Vietnam import demandDemand in India could...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More
Steel rebar prices in Northern Europe inched down from historical highs in the week to Wednesday September 1, but sources expect the market to hold steady in September due to resuming construction activity and limited imports, sources told Fastmarkets.Trading activity in the region has not fully recovered from the holiday lull but the outlook for September is quite positive, sources said."Construc...Read More
Chile's Ministry of Energy & Mining has unveiled a national mining policy that will run until 2050, the Pol?-tica Nacional Minera 2050, which sets out a series of initiatives intended to decrease the amount of water used by the country's mining industry, as well as to increase transparency across the sector.The policy blueprints were published on Tuesday August 31.The government initiative, which...Read More
Suppliers in China's domestic spot ferro-chrome market lowered their offer prices in the week to Tuesday August 31 after Tsingshan reduced its September ferro-chrome tender price by 800 yuan ($124) per tonne the week before.As a result, Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 600 yuan per tonne (5.7%) to 9,800-10,200 yuan ($1,517-1,579) per to...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Seaborne coking coal prices were up in both the cfr and fob markets on Wednesday September 1, although sources at two major mills in China said they did not want to buy at such high prices.Domestic first-tier coking coal prices in China, meanwhile, increased in fourth-quarter long-term contracts and coke prices increased for the eighth round since the start of August, sources said. Fastmarket...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 1.Fola Malomo, Cristina Belda and...Read More
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on the morning of Wednesday September 1, in the face of further evidence of a slowdown in manufacturing activity. Chicago's manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July China's Caixin manufacturing PMI also showed contraction with a fall to 49.2 in August,...Read More
Most base metals traded lower in the morning session on the London Metal Exchange on Wednesday September 1, following the release of manufacturing data from the United States and China that point to cooling economies, particularly China.The Chicago manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July, while China's Caixin manufacturing PMI fell to 49.2 in August,...Read More
The alumina price in the Atlantic is likely to trade at a higher premium compared with the Pacific in the near term due to refinery disruptions and high freight rates, according to Duncan Hobbs, research director at trading house Concord Resources.A fire in late August at the Jamalco alumina refinery, which produces 1.5 million tonnes of material per year, is costing the market 95,000-100,000 tonn...Read More