U.S. equity index futures were lower this morning. S&P 500 futures were down 39 points in pre-opening trade.Equity index futures moved lower following release of the April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.6% in March. Actual was an increase of 0.8% Excluding food and energy, consensus was an increase of 0.4% versus a gain of 0.7% in Marc...Read More
The three-month price of zinc rebounded above the $3,000 per tonne mark on the London Metal Exchange and nickel had the largest percentage gain on Tuesday May 11, while most other base metals metals also finished higher due to some dip-buying after prices fell on Monday.Zinc's benchmark futures contract was up by 0.6% to $3,009 per tonne on Tuesday, following a 0.7% decrease of Monday to $2,991.50...Read More
A summary of base metal premiums from across the globe for the week to Tuesday May 11.Please click...Read More
Prices for steel billet exports from the Commonwealth of Independent States have jumped to a 10-year high following rises in the Chinese billet and rebar markets over the week to Tuesday May 11.China's domestic rebar prices surged on May 10 and set the new high after the October futures contract on the Shanghai Futures Exchange hit the daily limit within 10 minutes of the start of trading.The pric...Read More
Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on May 10.Consuming...Read More
Nickel's price on the London Metal Exchange was down by 2% on Monday May 10 and back to levels seen one week earlier, with base-metals prices across the board lower following an extended bullish period during which copper, aluminium and zinc reached new highs.The three-month nickel price was the most strongly affected by profit-taking on Monday, and was last seen at $17,705 per tonne, down from Fr...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 52 points in pre-opening trade. Equity index futures followed a 2% drop by European equity indices and a 3% drop by the Nikkei Average.L Brands dropped $2.30 to $66.49 after the company announced plans to spin off its Victoria Secrets division by August.Simon Property fell $4.23 to $122.52 despite reporting higher tha...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were, for the most part, a lot stronger this morning, Monday May 10, but broader markets were mixed.* Friday’s United States employment report was much weaker than expected, suggesting the Federal Reserve will remain on its current tack* That report boosted equities, reducing the likelihood of a broader market c...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Wholesale gasoline prices in the U.S. rose $0.03 to $2.16 per gallon after the Colonial Pipeline was shut down by a cyber attack.Marriott dropped $1.69 to $145.00 after reporting lower than consensus first quarter revenues.Expedia added $0.54 to $174.00 after Susquehanna raised its target...Read More
China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace. Chinese authorities announced last week that, from May 1, import duties for metallics and semi-finished steel would be removed and that export duties for raw materi...Read More
German steel companies Thyssenkrupp Steel and H? 1/4 ttenwerke Krupp Mannesmann (HKM) and the Port of Rotterdam Authority are to jointly investigate setting up international supply chains for hydrogen. Thyssenkrupp Steel and HKM will require large and increasing quantities of hydrogen to produce steel without coal as part of their transformation paths towards climate-neutral steelmaking. Both comp...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The upward momentum in United States' flat product prices is yet to show any signs of slowing, with US HRC prices hitting new record highs during April. Steel supply is forecast to remain short of demand due to no improvement in underlying supply and demand fundamentals, which is propelling US flat product prices higher...Read More
Trafigura is in talks with Cliveden Trading to acquire copper purchase and sale contracts from the Zug-based trading house, sources with knowledge of the matter told Fastmarkets.Talks were held between the two companies this week, with Trafigura potentially taking on a portion of Cliveden's copper book, subject to conditions, two sources who declined to be named because the discussions were confid...Read More
High primary aluminium prices and premiums in Europe prevented market participants there from achieving a higher low-carbon aluminium differential throughout April, sources told Fastmarkets on Friday May 7.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $10-15 per tonne Friday May 7, flat compared to the last assessment on April 1.Offers as high as $...Read More