Base metals prices on the Shanghai Futures Exchange were down during the morning trading session on Tuesday September 17, with risk aversion still heightened following an attack on Saudi Arabian oil facilities over the weekend. “It was a textbook risk-off response in global financial markets following the strike on Saudi Arabia’s oil facilities over the…
Despite the fourth quarter of the year being well under way, it has been surprising to see the Indian subcontinent markets still stuck in the ongoing doldrums. As we reach the middle of September, markets have not been this depressed for several years (at least) and the pervading negativity seems to show few signs of…
The Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16. A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS…
With a missionary zeal to advocate and promote sustainability for protecting the planet with an appeal to consume less in every walk of life in alignment with National Mission to mitigate corrosion through sustainable solutions, Mr Yatinder Suri established, led and guided the chosen team for the Indian subsidiary of Finnish stainless steel global leader…
Key data from the pricing sessions in New York, London and Shanghai in the week ending Friday September 13. United States Key drivers Spot silicon fell below $1 per lb on the low end for the first time in three years in the United States, on excess supply and the undercutting of domestic material by overseas suppliers.…
JSW Steel on September 13th 2019 challenged an order of the National Company Law Tribunal that approved its INR 19,700 crore bid for Bhushan Power and Steel, but did not provide immunity from attaching the insolvent firm’s assets, post-take over, by investigating agencies for recovering INR 5,580 crore fund digression by erstwhile promoters. Mentioning JSW…
Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market. Total inventories of the five major steel items…
The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity’s outright price fall by 2.6%. Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the…
