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U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. United Technologies slipped $1.98 to $126.00 after announcing plans to spinoff of its Otis and Carrier divisions.Bank of Nova Scotia (BNS $70.09 Cdn) is expected to open lower after reporting slightly lower than consensus fiscal fourth quarter earnings.Apple dropped $3.79 to $170.83 aft...Read More
Prices for steel billet dropped in most global regions last week, due to a return of Chinese producers to the export market and uncertainty in the scrap markets.The scrap market in Turkey declined, with increased fears of a change in the raw material's price trend.Fastmarkets' daily price index for HMS 1&2 (80:20) of Northern Europe origin reached $320.33 per tonne cfr Turkey on Friday November 23...Read More
Prices for steel billet dropped in most global regions last week, due to a return of Chinese producers to the export market and uncertainty in the scrap markets.The scrap market in Turkey declined, with increased fears of a change in the raw material's price trend.Fastmarkets' daily price index for HMS 1&2 (80:20) of Northern Europe origin reached $320.33 per tonne cfr Turkey on Friday November 23...Read More
The three-month tin price on the London Metal Exchange stood out as the strongest performer among its peers with a gain of 1.2% this morning, Monday November 26. Three-month copper ($6,183 per tonne) and aluminium were up by 0.2%, while the rest were down by 0.3%. Volume has been average with 5,700 lots traded as at 7.30am London time. This morning’s mixed performance by the LME three-month b...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 30 points in pre-opening trade. Dollar Tree (DLTR $83.01) is expected to open lower after JP Morgan lowered its target price to $84 from $190.Alphabet (GOOGL $1030.10) is expected to open lower after MKM Partners lowered its target price to $1365 from $1465.Facebook (FB $131.73) is expected to open lower after MKM Part...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Friday November 23, with zinc's three-month price worst hit over the afternoon amid a sharp sell-off across the base metals complex. Despite thin spot activity due to national holidays in the United States, volumes traded on the exchange were moderate after European markets opened in quiet fashion,...Read More
Alumina traders in China have responded with skepticism to Qianhai Mercantile Exchange's (QME) plans to internationalize its yuan-denominated prices and list them on foreign exchanges such as Hong Kong Exchanges & Clearing Market (HKEX), Fastmarkets has learned. QME made its debut in October this year when it launched a spot domestic alumina price. But liquidity has been slow to build up and few a...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Key data for the pricing session for the week ending November 23. China Domestic ferro-chrome spot prices softened slightly this week amid thin buying interest.The UG2 chrome ore index was unmoved, with buyers taking a wait-and-watch stance prior to the release of December's ferro-chrome tender prices...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Key data for the pricing session for the week ending November 23. China Domestic ferro-chrome spot prices softened slightly this week amid thin buying interest.The UG2 chrome ore index was unmoved, with buyers taking a wait-and-watch stance prior to the release of December's ferro-chrome tender prices...Read More
Alumina traders in China have responded with skepticism to Qianhai Mercantile Exchange's (QME) plans to internationalize its yuan-denominated prices and list them on foreign exchanges such as Hong Kong Exchanges & Clearing Market (HKEX), Fastmarkets has learned. QME made its debut in October this year when it launched a spot domestic alumina price. But liquidity has been slow to build up and few a...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
Global ferrous scrap prices continued to move downward in the week ending Friday November 23, with persistently weak finished steel sales and fears about renewed Chinese exports.Cargoes booked in Turkey were at lower prices due to fears of increased volumes of rebar being exported from China. The market in India was dragged down by the negative sentiment in Turkey, with prices falling by $8 per to...Read More
European austenitic alloy scrap prices were largely stable this week, although further losses are possible while the market's fundamentals remain weak. The exception was European import 18/8 stainless scrap solids, the price range for which slipped to ?,?930-950 ($1,060-1,083) per tonne cif, down by ?,?20 per tonne, according to Fastmarkets MB's assessmentDemand is poor, as it has been since Octob...Read More
The price of shredded ferrous scrap imported into India fell by $8 per tonne this week due to a poor trading environment, sources told Fastmarkets on Friday November 23.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $350.53 per tonne cfr Nhava Sheva on November 23. This was down by $8.28 per tonne week on week from $358.81 per tonne cfr on November 16.Offer pr...Read More
The three-month lead price on the London Metal Exchange was slightly firmer this morning, Friday November 23, while the rest of the complex was down by an average of 0.6%. Zinc led the decline with a 1.2% fall, while copper was off by 0.8% at $6,217 per tonne.Volume has been high with 11,796 lots traded as at 7.24am London time - the bulk of which has been in nickel, where 6,902 lots have traded....Read More