Steelmaking in electric arc furnaces (EAF) is already a good example of a waste-free circular economy since more than half of global steel output is being recycled, even if higher-quality materials are still produced from virgin materials and fossil-fueled processes, the president of the European Steel Technology Platform (ESTEP) said at a workshop in Bergamo, northern Italy last week. Carl de Mar...Read More
Tata Steel has outlined proposals to build a stronger and more sustainable business in Europe, which include cutting up to 3,000 jobs, the company said on Monday November 18.The programme is needed to "ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability", the company said.In the first six months of its current financial year, which comm...Read More
David Becker6 hours ago (Nov 21, 2019 6:54 PM GMT) Gold prices eased on Thursday as the dollar gained traction paving the way for lower gold prices. Gold prices have received no safe-haven bid as complacency has taken hold and traders have bid up stock prices. US yields rebounded, allow the dollar to gain traction as the yield differential moved in favor of the greenback. Trade negotiations c...Read More
Brazilian miner Vale has diversified its iron ore sales to yuan-denominated futures contract pricing, which is the first time for global miners to use such pricing.Vale's Shanghai branch has signed a deal with the trading arm of Shandong Laigang Yongfeng Steel for a Qingdao-port-delivered cargo of Brazilian Blend fines to be priced against the May 2020 iron ore futures contract on China's Dalian C...Read More
Christopher Lewis8 hours ago (Nov 21, 2019 4:41 PM GMT)Gold markets pulled back slightly during the trading session on Thursday, as we continue to see a lot of noise just above the crucial $1450 level. That’s an area that had previously shown signs of resistance, and now “market memory” could come into play, offering plenty of buying pressure. After all, the market has already...Read More
Domestic prices for hot-rolled coil in Europe have been stable day on day, but the mood in the market remained upbeat, sources told Fastmarkets on Thursday November 21.Northern Europe"Workable" prices and a few deals have been heard at ?,?420-425 ($465-470) per tonne ex-works, but market sources suggested that mills could give additional discounts of about ?,?5 per tonne to specific buyers for Dec...Read More
The three-month tin price on the London Metal Exchange rose by 2.4% against high turnover at the close of trading on Thursday November 21, while lead futures continued their decline over the afternoon. Tin's outright price on the LME closed at $16,400 per tonne up from Wednesday's closing price of $16,020 per tonne, while daily trading volumes were at their highest since November 13 at 482 lots ex...Read More
James Hyerczyk6 hours ago (Nov 21, 2019 6:33 PM GMT)Gold prices are trading lower late Thursday, pressured by a report that China has invited top U.S. negotiators for a new round of talks. The announcement rekindled some hopes regarding the U.S.-China trade deal. However, losses are being limited by persistent rumors stating that negotiations between the two economic powerhouses have hit a snag ov...Read More
Sentiment in the CIS export billet market has improved in the second half of November due to an increase in demand after a rise in scrap prices.A significant number of sales to Africa, the Middle East and Asia have taken place in recent weeks, supported by bullish sellers despite some producers having already sold their December allocations.Recent billet...Read More
Low profit margins in the refined copper business and restrictions in global scrap flows have attracted large segments of the market in Europe and Asia to diversify into cheaper equivalent grade (EQ) copper cathodes despite greater risks related to financing difficulties and unreliability of supply. EQ grade copper cathodes refer to those that conform to grade A copper cathode specifications as de...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday November 21 that are worth another look.Chinese stainless steel prices dived over the past week amid a sustained downtrend for nickel futures on the London Metal Exchange.Press Metal, the largest aluminium producer in Southeast Asia, has finalized a shareholder agreement with Bintan Alumina Indonesia (BAI) for 25% of the compan...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
Most major aluminium producers agree that tackling the carbon intensity of the smelting process is one of the biggest challenges facing their industry. What they cannot agree on is how to deal with the situation, as a lively panel hosted by Fastmarkets during LME Week at the end of October showed. Aluminium smelting is an energy-intensive business and the market is starting to differentiate b...Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Low profit margins in the refined copper business and restrictions in global scrap flows have attracted large segments of the market in Europe and Asia to diversify into cheaper equivalent grade (EQ) copper cathodes despite greater risks related to financing difficulties and unreliability of supply. EQ grade copper cathodes refer to those that conform to grade A copper cathode specifications as de...Read More
Ole Hansen12 hours ago (Nov 21, 2019 12:56 PM GMT)The bill drew a rebuke from China and the standoff is likely to complicate discussions about a growth stabilizing trade deal. The markets reacted by sending bond yields and global stocks lower. Adding to the negative sentiment yesterday was the disappointing earnings report from Home Depot, a major U.S. retailer.Crude oil already under pressure dro...Read More
The three-month tin price on the London Metal Exchange rose by 2.4% against high turnover at the close of trading on Thursday November 21, while lead futures continued their decline over the afternoon. Tin's outright price on the LME closed at $16,400 per tonne up from Wednesday's closing price of $16,020 per tonne, while daily trading volumes were at their highest since November 13 at 482 lots ex...Read More
Seaborne coking coal prices remain resilient, with trading activity involving products in the premium segment not showing any signs of slowing down.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.51 per tonne, up $1.22 per tonnePremium hard coking coal, cfr Jingtang: $144.07 per tonne, unchangedHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $133...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday November 21, dipping below nearby support against fresh inflows of material, while tin's outright price bucked the downward trend. Zinc's three-month price was recently seen at $2,297 per tonne, with price action down 0.5% from Wednesday's closing price of $2,313 per tonne. Turnover in zinc was hig...Read More
With no end to Federal Reserve easing in sight, what will the reaction be in the gold and silver markets?by Chris Marcus via Arcadia EconomicsWith no end to Federal Reserve easing in sight, what will the reaction be in the gold and silver markets?Jim Willie, editor of The Hat Trick Letter on The Golden-Jackass.com talks about whether we might see a moonshot in the precious metals markets, the po...Read More