The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price quotation, click here.To see...Read More
Key data from the Wednesday January 2 pricing session in Europe.Key drivers The market was extremely quiet during the Christmas and New Year break, with liquidity expected to return over the following seven days. No trades were reported for either the ferro-titanium or titanium scrap markets since the...Read More
Fastmarkets is hosting a free web seminar on Tuesday January 15 at 9:30am London time to discuss recent and upcoming trends and how we price the minor metals markets.The webinar will also explain the recent changes to some of our minor metals specifications. Register here to join the webinar. Date: Tuesday January 15, 2019 Time: 9:30am London time Join our pricing team while they discuss: - R...Read More
All Fastmarkets non-ferrous UK scrap and foundry ingot prices were unchanged on Wednesday January 2.NB: prices...Read More
There will be a massive influx of copper scrap to China in the first half of this year, with market participants hurrying to secure material before the country steps up its clampdown on scrap imports in the latter half, a BMO Capital Markets analyst said. China will restrict the importing of copper scrap classified under HS code 7404000090, including category 6 copper scrap which does not require...Read More
Fastmarkets has corrected its ferrous shredded scrap Rotterdam export price, which was published incorrectly on December 21 and December 28 due to a reporter error.The price was originally published incorrectly at $376-378 per tonne fob Rotterdam and has been corrected to $276-278 per tonne fob Rotterdam. Fastmarkets price book and database have been updated to reflect this change.To provide feedb...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively. Volume across the complex has been high with 11,375 lots traded as at 06.58am London time. Wednesday’s trading saw three-month...Read More
U.S. equity index futures were lower this morning. S&P 500 futures are down 26 points in pre-opening trade. Index futures are responding to weakness in Apple after the company lowered its fiscal first quarter revenue guidance to $84 billion from $91.5 billion. JP Morgan and Moness lowered their target price on the stock. Apple dropped $12.64 to $145.28 in pre-opening trade.Index futures were v...Read More
Turkey's imports of flat steel decreased by 52.69% year on year in November 2018, the Turkish Statistical Institute (TUIK) said on Monday December 31.The country imported 358,826 tonnes of flat steel, compared with 758,499 tonnes in November 2017, TUIK statistics showed. The decrease in imports was largely due to the negative sentiment prevalent in the domestic steel market since August this year,...Read More
Turkey produced 3.10 million tonnes of crude steel in November 2018, a 2.1% decrease compared with November 2017, according to the Turkish Steel Producers Association (T???oeD).In January-November 2018, crude steel production in the country was 34,429,000 tonnes, a 0.51% year-on-year rise compared with 34,256,000 tonnes produced in January-November 2017, T???oeD said last week.The country produced...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company's industrial mining assets, a newly created position with oversight and responsibility for all Glenco...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
With the exception of lead and tin, three-month base metals prices on the London Metal Exchange were for the most part under downward pressure over the final trading days of 2018. Weak manufacturing purchasing managers’ index (PMI) readings showed the Chinese economy has slipped into contraction mode, which is further evidence that the trade dispute between the Asian nation and the United Sta...Read More
Pre-opening Comments for Wednesday January 2ndU.S. equity index futures were lower this morning. S&P 500 futures were down 42 points in pre-opening trade. Netflix dropped $5.69 to $267.66 after Sun Trust lowered its target price to $3.55 to $410. Aflac (AFL $) is expected to open lower after JP Morgan downgraded the stock to Neutral from Overweight. Amazon dropped $32.72 to $1469.25 afte...Read More
A summary of base metals premiums from across the globe for the week to Monday December 31.Note that in line with our publication schedule, the weekly base metal premiums table is...Read More
While base metals prices began the first quarter of 2018 following the uptrend from the previous year, the advent of sanctions, global trade tensions and tariffs - notably Section 232 - swiftly became a focal point in what became a year of volatile price action.In addition, a broad trend of depleting LME stocks further exacerbated choppy price action, while strength in the US dollar index above th...Read More
Base metals on the London Metal Exchange were predominantly lower at the close of trading on Monday December 31, consolidating lower despite slight upticks in equity markets and a continued easing in the US dollar index. The worst affected of the day, the three-month lead price closed around 2% lower but remains supported above $2,000 per tonne amid a multi-year low in total LME inventory. &n...Read More