Rebar importers outside China have been asking lower prices due to the decrease in billet prices in the international market, while China's domestic rebar prices were flat on Friday March 27 amid steady trading.Eastern China (Shanghai): 3,470-3,500 yuan ($490-495) per tonne, unchanged Northern China (Beijing): 3,380-3,400 yuan per tonne, unchangedThe weak futures led to lower buying interest in sp...Read More
Markets are looking quite mixed this morning, Friday March 27, with most Asian-Pacific equity indices up, the pre-market Dow Jones Industrial Average (DJIA) down by 1.1%, while base metals prices on the London Metal Exchange and Shanghai Futures Exchange are up and gold is down from recent highs.It is not surprising the markets are mixed as it is confusing that the DJIA rallied by 6.4% on Thursday...Read More
Base metals prices on the Shanghai Futures Exchange were all up at the close of morning trading on Friday March 27, with the complex buoyed by positive performances in equity markets overnight and this morning.The $2-trillion economic stimulus package approved by the United States Senate late on Wednesday and expectations of a coordinated response from Group of 20 (G20) nations to combat the Covid...Read More
First Solar - the world's leading manufacturer of solar power modules - is continuing operations at its main sites in the United States, Malaysia and Vietnam despite Covid-19 virus restrictions on industrial activity in all three countries.First Solar is focused on the cadmium telluride photovoltaic market, a subdivision of the thin-film solar industry. The US-headquartered company said on Th...Read More
Fastmarkets is proposing to increase the pricing frequency of its cobalt hydroxide payable indicator, min 30% Co, cif China, to twice weekly from weekly.The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end), is currently published weekly, on Wednesdays.Following an initial consultation with the market, and a review of typical...Read More
Key data from the Friday March 27 pricing session in Shanghai.Key drivers The cobalt metal price took a break from its persistent downturn amid the supply disruptions following the 21-day lockdown in South Africa, which started midnight on Thursday March 26. Producers have attempted to raise offers while traders continued to destock...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The price of stainless steel in the European domestic market increased this week with producers anticipating shortages following the closure of all production sites in Italy, sources told Fastmarkets on Friday March 27. On March 21, the Italian government issued a decree closing all non-essential production operations in the country, including steelmaking. Following this, many mills elsewhere in E...Read More
Prices in Southeast Asia's steel billet market have plunged over the past week, tracking losses seen in the bellwether Turkish ferrous scrap import market amid the fallout from the Covid-19 pandemic. Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into Manila, was $380-385 per tonne on Friday March 27, down $5...Read More
ZINCMINI CARRY TIPS ZincMini Carry Tips – Buy ZincMini APRL at CMP 144.05 Add more if price Near 143 with SL 141.90 for Target 145.90 – 146.90 – 147.80 (CARRY) Read More
LEADMINI TIPSLeadMini Tips – LeadMini Sell Call 225a given at 132.80 Almost near to 1st Target 131.40. CMP 131.50. Profit of 1.3 x 2 lot = 2.60 PointsCALL ID 225a : LeadMini Tips - SELL LeadMini April at CMP 132.80 for Target tomorrow 131.40 - 130.40 with SL Above price 134.05. Risk Taker trade 2 lots Read More
COPPER TODAYCopper Today – Copper April Buy Call 225f given at price 376.20 CMP 377.70. Low risk taker book 1.5 Points / Rs 3750 Per lot. Risk Taker Hold as per tipsCALL ID 225f : Intraday Copper Tips - BUY Copper April at CMP 376.20 for Target 378.50 - 379.90 with SL below price 373.90 Read More
Intraday Copper Tips – BUY Copper April at CMP 376.20 for Target 378.50 – 379.90 with SL below price 373.90 Read More
TODAY LME : 27/03/2020Daily LME Daily Stocks is as followsAluminium up by 19100MTCopper down by -650MTLead unchange -25MTNickel down by -30MTZinc down by -725MT Daily LME Cancelled Warrants is as followsAluminium down by -2675MTCopper down by -1150MTLead up by 250MTNickel down by -210MTZinc down by -850MT Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Thursday March 26, climbing by just over 3% to close at its highest level since March 16, while copper futures found support above the $4,800 per tonne threshold.Lead's underlying price on the LME closed at $1,685 per tonne, an increase of more than 3% from its intraday low of $1,635.50...Read More
Sumitomo will temporarily stop operations at its Minera San Cristobal zinc-lead mine in Bolivia due to national restrictions imposed to contain the spread of the Covid-19 virus.On Thursday March 26, Sumitomo published a statement online, which said that it had decided to suspend operations due to all-day or night curfews being imposed in...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
China's exports of ammonium paratungstate (APT) plunged in the first two months of 2020 due to fewer trading days amid extended national holidays due to the novel coronavirus (2019-nCoV) outbreak.China exported around 170 tonnes of APT in January and February, a decline of 67% from the 521 tonnes shipped in the same period of 2019, according to official but unconfirmed data seen by Fastmarkets.The...Read More
Key data from Wednesday March 25 pricing session in Shanghai.Key drivers China's export price for ammonium paratungstate (APT) was steady in a quiet market; most sellers said they had not received any inquiries and many had stopped offering. The tungsten concentrate price continued to slide...Read More