The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Lowe's (LOW $233.30) is expected to open higher after Wells Fargo raised its target price from $230 to $260.Caterpillar gained $2.28 to $205.88 after Congress passed an Infrastructure Bill over the weekend. Live Nation dropped $4.90 to $118.90 following news of a criminal investigation of...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
The north China steel production hub of Handan city in Hebei province has implemented stricter production cuts at steel mills from Monday November 1 to November 7.The move has been made is to mitigate weather-influenced air pollution over the period and comes just after the city finished implmenting steel production curbs in September and October to limit the crude steel output in line with China'...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Monday November 8, but those on the Shanghai Futures Exchange were mainly firmer as they followed the strength seen on the LME on Friday.* US Congress’ passing of the long-awaited infrastructure bill bodes well for the metals* Chinese trade data show a record surplus, but weaker than expected imports highligh...Read More
Steel prices in the United States are poised to continue decreasing at a slow pace in the coming months, Luxembourg-based steelmaker Ternium said on Wednesday November 3.Supply and demand fundamentals have started to normalize in the country, but remain far from balance, according to Ternium chief executive officer M??ximo Vedoya.Among the drivers for lower prices, the CEO cited capacity usage in...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More
Fastmarkets opened a consultation on October 1, inviting feedback on its IOSCO-audited non-ferrous materials methodologies in line with our annual methodology review process.The consultation, which closed on October 31, sought to ensure that the specifications and methodology for our audited alumina, aluminium, cobalt, copper, lithium and manganese ore prices continue to reflect the physical marke...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday November 5.China The bearish sentiment triggered by decreasing ferro-silicon futures continued to weigh on the Chinese spot ferro-silicon price, leaving market participants with a strong wait-and-see attitude. The high cost of electricity fees, a postponed steel mill tender, along with thin deals and inqui...Read More