Christopher Lewis9 hours ago (Nov 27, 2019 4:18 PM GMT)Gold markets initially fell during the trading session on Wednesday, reaching down towards the $1450 level. This is an area that has offered support recently, and the trading session on Wednesday was no different. We ended up forming a somewhat bullish looking candle, and it should be noted that we are about halfway between the 50 day EMA and...Read More

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Wednesday November 27, falling by a little more than 1% on thin turnover, while strength in the US economy did little to boost risk-off sentiment toward the base metals complex.Nickel's underlying price on the LME closed at $14,380 per tonne on Wednesday afternoon, falling from an intraday high of $14,57...Read More

The London Metal Exchange's cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets' index, has seen a flurry of activity on the January 2020 prompt date.Four trades had taken place as of 11am London time on Wednesday November 27. Three separate trades of 10 lots on the January 2020 date at $290 per tonne, while another 10 lots traded for May 20...Read More

Base metals traded lower in the morning session on the London Metal Exchange on Wednesday November 27, shrugging off any residual positive sentiment from the renewed US-Sino trade-talk optimism that led the Dow Jones index to fresh highs yesterday."Wall Street closed at fresh highs yesterday, as both the United States and China spoke positively that a phase one limited trade deal is imminent. Chin...Read More

Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 27.Please click...Read More

The price of steel mesh-quality wire rod in the Northern Europe domestic market edged upward this week, primarily because of higher ferrous scrap costs, Fastmarkets heard on Wednesday November 27.Mills said that recent price increases had been readily accepted by consumers and that order books were now at very healthy levels, in terms of both month-on-month and year-on-year comparisons.Indeed, one...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday November 27 that are worth another look.Brazilian steelmaker Gerdau has agreed to buy 96.4% of Sider??rgica Latino-Americana (Silat) shares from Spanish group Hierros A????n for $110.8 million, in a shift from its divestment strategy of the past four years.Shifting London Metal Exchange zinc and lead prices have dictated premi...Read More

The European Commission has referred the government of Greece to the Court of Justice of the European Union for the non-payment of ?,?135.8 million ($149.60 million) of aid granted to state-owned ferro-nickel producer Larco. It has also called for the court to impose a lump-sum fine and financial penalties on Greece. The move follows requests by the court for repayment of the aid both in November...Read More

Shifting London Metal Exchange zinc and lead prices have dictated premiums this past week, overriding fundamental shortages from key suppliers. The LME zinc contract's backwardated forward curve has led to lowball offers from merchants in Italy, while a declining lead price has prompted buyers to come into the market in Southeast Asia for lead in the week to Tuesday November 26. Italy zinc pr...Read More

The London Metal Exchange's cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets' index, has seen a flurry of activity on the January 2020 prompt date.Four trades had taken place as of 11am London time on Wednesday November 27. Three separate trades of 10 lots on the January 2020 date at $290 per tonne, while another 10 lots traded for May 20...Read More

Zinc and lead smelter Nyrstar has finalized repayment of a $262,125,000 loan it had taken from the South Australian state government to aid the redevelopment of its Port Pirie smelter.The repayment means Australian taxpayers are no longer liable for any risk related to the lead smelter, located near Adelaide.Nyrstar...Read More

Base metals traded lower in the morning session on the London Metal Exchange on Wednesday November 27, shrugging off any residual positive sentiment from the renewed US-Sino trade-talk optimism that led the Dow Jones index to fresh highs yesterday."Wall Street closed at fresh highs yesterday, as both the United States and China spoke positively that a phase one limited trade deal is imminent. Chin...Read More

The United States' steel mill product imports jumped month on month in October due in part to a resurgence in the arrival of slab from Brazil, which offset steep declines in inflows of line pipe, oil country goods, reinforcing bar and cold-rolled sheet products. Shipments from abroad totaled nearly 1.98 million tonnes in October, up by 14.6% from 1.72 million tonnes in September but off...Read More

The price of rebar in the Southern European domestic market increased this week on improved demand in Italy and Spain and higher scrap costs, sources told Fastmarkets on Wednesday November 27.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?465-480 ($512-529) per tonne on Wednesday, up by ?,?10-15 per tonne week on week.Following m...Read More

The Canada Border Services Agency (CBSA) has announced estimated margins of dumping on certain corrosion-resistant steel sheet from Turkey, the United Arab Emirates (UAE) and Vietnam, as part of an anti-dumping investigation initiated on November 8, 2019.The estimated margin of dumping for Turkey is 7% of the export price, 22% for the UAE and 20% for Vietnam, according to the agency.CBSA also esti...Read More

Domestic prices for hot-rolled coil in Northern Europe were expected to rise due to restocking activity and lower availability in the spot market, sources told Fastmarkets on Wednesday November 27.Fastmarkets' latest weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?420-425 ($463-468) per tonne on November 27, unchanged over the week.The assessment was based on the lates...Read More

Prices of hollow steel sections in Northern and Southern Europe rose this week following increases in feedstock material costs, market sources told Fastmarkets.Fastmarkets' weekly price assessment of steel sections (medium), domestic, delivered Northern Europe, was ?,?580-590 ($639-649) per tonne on Wednesday November 27, up from ?,?560-580 per tonne a week earlier.The price of hot-rolled coil (HR...Read More

The stainless steel scrap market in the United States remained largely quiet this week, with few signs that improvement is near."The molybdenum price [has been] down since August 2019, the nickel price continues to fluctuate and the demand side of the market remains quiet. The confusion of this market continues," one major processor source said.Fastmarkets last assessed the molybdenum canned...Read More

The United States' ferrous scrap export market remained quiet ahead of the Thanksgiving holiday, although the expectation was that Turkey will be forced to pay higher prices once it returns to the US market. Turkey has been absent from the US market since Wednesday November 13, when it booked a US cargo containing 25,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap (HMS) at...Read More