The year 2020 showed how resilient steel mills are and how important it is to diversify products, the chief executive officers of three major steel producers in the Gulf Co-operation Council (GCC) countries said during the keynote CEO panel of Fastmarkets' Middle East Iron & Steel virtual conference on Tuesday December 15. CEOs on the panel Ravi Singh of Bahrain's structural steel producer Su...Read More
Base metals prices on the London Metal Exchange were higher across the board on the morning of Friday December 18, with copper trading above $8,000 per tonne earlier for the first time since 2013.Infrastructure spending pledges, hopes for more stimulus, falling or low stocks and low Capex levels across the industry for several years all make for a bullish long-term backdrop for the metals.Base met...Read More
Cadence Design Systems (CDNS), a NASDAQ 100 stock moved above $127.50 to an all-time high extending an intermediate uptrend.Magna International (MG), a TSX 60 stock moved above $82.71 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Friday December 18thU.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade....Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 16.Please click...Read More
The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
Chilean copper producer Codelco renewed its labor agreement with the workers' unions representing employees at the Ventanas division located in the country's central Valpara?-so region, the state-owned miner said on Tuesday December 15.The new contracts will be effective for 36 months from February 1, 2021 for Union No.1 and from May 1 for the Turnados Union, Codelco said. Similar to the deal...Read More
Global nickel premiums were largely unchanged in the week to Tuesday December 16, while in China, prices for nickel pig iron (NPI) and nickel sulfate responded positively to improved buying interest and strong nickel prices on the LME. European and US premiums both steady in thin marketChina's NPI and nickel sulfate prices up; plate premiums static LME price spike keeps European premiums firm desp...Read More
Seaborne charge chrome ferro-chrome deals concluded at higher prices in the week to December 15 in response to tight availability of material, which ended four weeks of stability, sources said.Fastmarkets' ferro-chrome, 50% Cr, import, cif main Chinese ports assessment was at $0.72 per lb contained Cr on Tuesday, up by 2 cents or 2.9% from $0.70 per lb the preceding week. The increase in imported...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and Michael Greenfield in London, Susan Zou...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
Turkish deep-sea scrap import prices continued to climb on Wednesday December 16, with fresh bookings heard from Europe and the Baltic Sea regions, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $435 per tonne and bonus at $445 per tonne cfr. The cargo composition could not be verified at the time of publication.Another steel...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 16.Key drivers Ferro-titanium has jumped more than 11% during the week to Wednesday December 16 to a peak last seen in January 2013 amid a flurry of orders from consumers in the steel sector, both for prompt shipment and for deliveries in January and February. The titanium scrap markets, where supplies have been getting tig...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally firmer this morning, Wednesday December 16, with prices holding up in high ground, backed by optimism that vaccines will lead to stronger recoveries next year, while the weaker dollar and concerns about inflation were also supportive. Japan's flash manufacturing purchasing managers index (PMI) climbed...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
Hot-rolled coil prices in the United States continued to test 12-year highs following a wave of quietly announced but successful mill increases, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $48.89 per hundredweight ($977.80 per ton) on Wednesday December 16, up 5.3% from $46.44 per cwt on Tuesday December 15 and up 11.1% from $44 per cwt a...Read More
Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 16 due to a shortage of material in the market, sources told Fastmarkets.But the number of transactions and volumes were reported to be limited due to buyers' concern that the price rise is unlikely to be sustainable for long.Fastmarkets calculated its daily steel hot-rolled coil...Read More
Wire rod prices in the United States have jumped higher in response to significant scrap price increases, with mills passing those costs along to consumers, as well as a falling dollar, which has pushed import prices even higher - making them less competitive against domestic supply, Fastmarkets has learned.Fastmarkets' monthly price assessment for steel wire rod (low carbon) industrial quality, f...Read More