Aluminium premiums fell across the globe during the past week, on weakened demand due to Covid-19 lockdowns and a wider contango spread between cash and three-month contracts on the London Metal Exchange which is supportive to traders holding the metal.Rotterdam down amid smelters focusing on P1020A ingotsMJP premium steady on lower market liquidityUS Midwest hits lowest level since January 2018Eu...Read More
London Metal Exchange three-month base metals prices, with the exception of lead, continued their upward momentum at the close on Tuesday April 14, buoyed by positive China customs data and ebbing virus concerns in other regions, including the United States. China's trade balance figures for March, which measure the difference in value between imported and exported goods month on month, were annou...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 14 that are worth another look.Toyota Motor Corp has decided to again postpone the reopening of its automaking plants in Brazil by two months amid plunging demand and in order to prevent the Covid-19 virus from spreading among its workers, the company said on Monday April 13.The Covid-19 pandemic has inevitably drawn comparis...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 14.Please click...Read More
The chrome ore market appreciated on Tuesday April 14 due to bullish price sentiment after South Africa's lockdown was extended beyond the original 21 days. The chrome ore UG2 index, cif China rose by 17.5% to $134 per tonne on Tuesday, after holding at $114 for the previous three weeks. A small-volume deal was reported close to the new index level for material on a vessel that was on water a...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 14 that are worth another look.Toyota Motor Corp has decided to again postpone the reopening of its automaking plants in Brazil by two months amid plunging demand and in order to prevent the Covid-19 virus from spreading among its workers, the company said on Monday April 13.The Covid-19 pandemic has inevitably drawn comparis...Read More
The uncertainties surrounding cobalt supply and demand in the near term amid the continuing Covid-19 pandemic has led more Chinese salts smelters to take on tolling business to mitigate risk.The virus has had an unprecedented effect on the global economy with manufacturing sectors around the world forced to slow in attempts to halt its spread, a dynamic which eventually dented buying interest for...Read More
Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o were mostly unchanged week on week, but market participants anticipated a series of price cuts after the United States' monthly domestic scrap settlement for April.Some steel producers in Mexico's Baj?-o region announced a price cut of 200 pesos per tonne in scrap purchases for the ongoing week, after it became known t...Read More
Turkish deep-sea scrap import prices increased again on Tuesday April 14 because of the limited supplies coming from Europe and the United States, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 12,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.Another steel mi...Read More
Turkish domestic ferrous-scrap prices have continued to increase during the week to Monday April 13, in line with rising imported steel-scrap values, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,515-1,700 lira ($224-252) per tonne on Tuesday April 14, up from 1,380-1,515 lira per tonne last week.Steel producers a...Read More
Markets are looking brighter this morning Tuesday April 14, on a combination of more mining production cuts, a deal on an oil supply cut, better Chinese trade data that showed imports were only down by 0.9% year on year in March and some reopening of businesses in Europe. There is light at the end of the tunnel but it is early days in the plateauing of the Covid-19 pandemic in Europe and the Unite...Read More
The uncertainties surrounding cobalt supply and demand in the near term amid the continuing Covid-19 pandemic has led more Chinese salts smelters to take on tolling business to mitigate risk.The virus has had an unprecedented effect on the global economy with manufacturing sectors around the world forced to slow in attempts to halt its spread, a dynamic which eventually dented buying interest for...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 14 that are worth another look.Toyota Motor Corp has decided to again postpone the reopening of its automaking plants in Brazil by two months amid plunging demand and in order to prevent the Covid-19 virus from spreading among its workers, the company said on Monday April 13.The Covid-19 pandemic has inevitably drawn comparis...Read More
Toyota Motor Corp has decided to again postpone the reopening of its automaking plants in Brazil by two months amid plunging demand and in order to prevent the Covid-19 virus from spreading among its workers, the company said on Monday April 13.Three units in S??o Paulo state are scheduled to resume activities by June 22, while another plant in a nearby region will reopen on June 24, Toyota said....Read More
Export sales of flat steel from the Commonwealth of Independent States (CIS) to Turkey and Asia continued at low prices during the week ended Tuesday April 14, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $360-370 per tonne on Tuesday, narrowing downward from $360-375 per tonne a week before.Russian producers sold lar...Read More
Steel output at ArcelorMittal Kryvyi Rih (AMKR) in Ukraine dropped by 7.14% year-on-year in the first quarter of 2020 on the negative effects of the Covid-19 pandemic.The steelmaker produced 1.3 million tonnes of crude steel in January-March 2020, against 1.3 million tonnes in the corresponding period last year.At the same time, the volume of finished products totaled 1.2 million tonnes in the fir...Read More
Special bar quality (SBQ) steel spot prices in the United States have dropped considerably due to reports of cold-finished bar base price cuts by domestic mills, widespread discounting and declining ferrous scrap prices, Fastmarkets has learned. Swift and significant price declinesAccording to multiple sources, a domestic mill this month reduced base prices by $60 per short ton ($3 per h...Read More
Steel billet import prices in the United Arab Emirates increased over the past week, but demand remained weak after curfews were introduced in several Gulf Co-operation Council (GCC) countries, sources said on Tuesday April 14.Saudi Arabia announced a 24-hour curfew in the cities of Riyadh, Tabuk, Dammam, Dharan and Hofuf, and in the provinces of Jeddah, Taif, Qatif and Khobar, commencing on the n...Read More
Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o were mostly unchanged week on week, but market participants anticipated a series of price cuts after the United States' monthly domestic scrap settlement for April.Some steel producers in Mexico's Baj?-o region announced a price cut of 200 pesos per tonne in scrap purchases for the ongoing week, after it became known t...Read More
Turkish deep-sea scrap import prices increased again on Tuesday April 14 because of the limited supplies coming from Europe and the United States, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 12,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.Another steel mi...Read More