Key pricing data from the pricing sessions in the United States, Europe and Asia for the week ended March 30.China The price narrowed, declining on reduced demand from overseas secondary aluminum plants and automakers, many of which have suspended operations to contain the spread of Covid-19. Chinese exporters stopped making offers, instead asked prospective...Read More
Maersk Line, the world's biggest container shipping company, will be suspending its North Europe (AE2) and Mediterranean (AE20) services on the Asia-Europe network during the second quarter of 2020. "Due to market demand reductions in Europe caused by the Covid-19 pandemic, Maersk endeavors to balance our network to match reduced demand," the Danish carrier said in an advisory on Friday March...Read More
Ferro-vanadium prices continued to move down last week in Europe and China on weakening consumer demand due to the impact of the Covid-19 pandemic on business operations. Measures imposed to limit the spread of the coronavirus outside of China continues to pressure China's export price for ferro-vanadium, which ticked down for the second consecutive week on Thursday March 26. Fastmarkets assessed&...Read More
Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.This has led the company to plan to shut one blast furnace in its East Japan Works and restructure its remaining operations in Japan, it said.In brief JFE St...Read More
China's domestic prices for steel scrap decreased over the past week on bearish sentiment and destocking by sellers, market participants said. Fastmarkets' weekly assessment of steel scrap heavy scrap domestic, delivered mill China, was 2,530-2,660 yuan ($357-375) per tonne for the week ended March 27, down from 2,630-2,740 yuan per tonne a week earlier.Steel prices dropped over the past week lead...Read More
China’s official manufacturing purchasing managers’ index (PMI) rebounded to 52 in March, after 35.7 in February, which means 52% of purchasing managers reported conditions were “better” in March than they were a month earlier. This has provided some support to the base metals this morning, Tuesday March 31.* Asian-Pacific equity indices and pre-market western futures were mixe...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening comments. The Canadian Dollar was virtually unchanged at U.S. 70.27 cents following release of Canada's GDP at 8:30 AM EDT. Consensus was a gain of 0.2% versus an increase of 0.3% in December. Actual was a gain of 0.1%.Conagra gained $1.53 to $29.76 after issuing positive fiscal fourth quarter...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubar??o facility, in the country's southeastern Esp?-rito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.The blast furnace at the Tubar??o unit, which has capacity to produce 2.8 million tonnes of crude steel per year, will be halted in early April for...Read More
Anglo American is expecting a production impact of 2-3 million tonnes at its Kumba iron ore operations in 2020, following a decision to operate with around half of its workforce during a 21-day lockdown in South Africa that started this week.The miner said on Friday March 27 that it had consulted with the government authorities and industry bodies in South Africa to determine and agree on the appr...Read More
State-owned Steel Authority of India (Sail) has joined the list of steelmakers in the country to reduce production levels following the lockdown imposed in India earlier this week.Sail is a major integrated producer of rebar, wire rod and hot rolled coil (HRC), and has a total crude steel capacity of around 21 million tonnes.In light of increasingly...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Here are five Fastmarkets stories you might have missed on Friday March 27 that are worth another look.European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.The Zambian government will remove the 5% im...Read More
Metals, mining and alloy producers have been scenario-planning in response to the novel coronavirus. The South African government appears to have just removed all but one option.President Cyril Ramaphosa ordered the country's mineral resources industry to shut underground mines and furnaces from Thursday March 26, unless they can be operated remotely. The shutdown will last for three weeks an...Read More