The following Fastmarkets minor metals prices changed on Wednesday October 10:Antimony MB free market regulus, $/tonne: $8,400-8,600 per tonne from $8,450-8,650 Antimony MMTA standard grade II, $/tonne: $8,400-8,600 per tonne from $8,450-8,650 Bismuth MB...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday October 10:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.90-12.10 per lb from $11.80-12.00 Tungsten MB Chinese...Read More
Key data from the Wednesday October 10 pricing session in Europe. Key drivers The European ferro-titanium price range has narrowed, with a move down at the upper end of the range week on week. The market has seen illiquid trading conditions this week due to many industry dealers attending the International Titanium Association conference in the United States.Industry sources say a major consumer...Read More
Ferrous scrap prices in the US Midwest recovered during the October trade, with sellers optimistic that further upside is in store for the market before the year draws to a close. Midwest mills were in and out of the October market in less than 48 hours, willing to pay a $20-per-gross-ton increase to lock up No1 busheling and a $10-per-ton increase to secure secondary grades including shredded scr...Read More
Dock buying prices for ferrous scrap at one US East Coast export region could see a large price reduction this week, after exporters backpedaled on recent across-the-board price increases due to declining Turkish export rebar prices.There were no cargoes sold from either US coast over the past week, but export yards in Boston dropped prices in anticipation of the next bulk sale to Turkey - mu...Read More
Stainless steel scrap prices for processors and for consumers have continued to decline in the United States, with chrome prices falling while the nickel market has held mostly steady."It is difficult to be optimistic when all you hear is negative news surrounding the stainless steel scrap environment," one dealer source said, citing lower chrome values and a stalled nickel market, along with adeq...Read More
The steel sector in the United States still depends on scrap exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London last weekend.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, Lee...Read More
The Turkish steel producers have extended their silence in the deep-sea scrap markets on Wednesday October 10, with firm offers from the suppliers but only weak demand for the mills' finished and semi-finished long steel products.Scrap suppliers, especially in the United States, kept their offers firm because of good demand in the US and also in the Southeast Asian markets, sources said."There are...Read More
Seaborne iron ore low alumina prices rose on spot trading activity on Wednesday October 10, while the benchmark 62% Fe iron ore index stayed flat.Metal Bulletin 62% Fe Iron Ore Index: $71.14 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $70.17 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $76.35 per tonne cfr Qingdao, up by...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian blend fines, sold at $76.35 per tonne cfr China, laycan...Read More
Trading was thin in the seaborne coking coal spot market on Wednesday October 10 amid a wide gap between bids and offers. A cargo of premium hard coking coal was offered at $232 per tonne fob Australia during the day, while a bid was made for it at $210 per tonne fob Australia."End users in China can take their time because there are 2.1 million tonnes of imported coking coal at the Port of Jingta...Read More
China's domestic rebar prices edged up further on Wednesday October 10 following gains in the billet and futures markets.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($656-661) per tonne, up 10 yuan per tonneNorthern China (Beijing): 4,340-4,370 yuan per tonne, narrowed upward by 10 yuan per tonneThe higher billet and futures prices during the day gave the spot rebar market a small boost, b...Read More
China's hot-rolled coil prices were stable on Wednesday October 10 on moderate trading activity, according to market sources.DomesticEastern China (Shanghai): 4,250-4,270 yuan ($614-616) per tonne, unchangedNorthern China (Tianjin): 4,150-4,160 yuan per tonne, unchangedPrices were stable across the country, with trading volume dipping slightly in comparison with Tuesday, sources said.But they are...Read More
The price of silicon in the United States fell for a seventh consecutive month in the latest monthly assessment on Wednesday October 10, reaching its lowest level in nearly a year, with buyers keeping their distance from the spot market.The grade-553 silicon price declined to $1.24-1.27 per lb on Wednesday, down by $0.03 on the low end and by $0.02 on the high end compared with the previous r...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 10:Aluminium scrap Group 1 pure 99% & litho: ?1,410-1,460 per tonne from ?1,420-1,470 Commercial pure cuttings: ?1,110-1,160 per tonne from ?1,120-1,170 Clean HE9 extrusions:...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Index futures moved sharply higher following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 210,000 from 207,000 last week. Actual was 214,000. Consensus for the September Consumer Price Index was a gain of 0.2% versus an increase of 0.2% i...Read More
Today, U.S stocks experienced their worst performance since February. Compared to the most significant single-day drop, the Dow's performance today was still no walk in the park. In February, the Dow Jones Industrial Average plunged 1,175 points for a net decline of 4.6% on the day. Today the Dow scored its second worst day of the year by closing down 831 points, a net decline of 3.6%.The tech-hea...Read More
Editor's Note: The article was updated to reflect further weakness in equity markets, which are down more than 3% across the board (Kitco News) - Equity markets are breaking down and that could be the catalyst needed to light a fire under the gold market, according to some analysts.Ahead of the close, the S&P 500 and Dow Jones Industrial Average have dropped significantly with both falling 3%...Read More
(Reuters) - Wall Street tumbled on Wednesday as investors dumped high-growth names such as technology and FAANG stocks, with rising Treasury yields and trade-related worries sapping risk appetite.The S&P 500 and the Dow Jones Industrial Average fell about 1.5 percent and, at the day’s low, had retreated 3.8 percent and 3.6 percent, respectively, from all-time highs. The Nasdaq’s ne...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our...Read More