If global financial markets had been operating under a pervading sense of uncertainty due to the impact of the novel coronavirus (2019-nCoV), they now appear to be veering on panic.Oil prices have suffered their biggest one-day collapse since the 1991 Gulf War following Saudi Arabia's declaration of a price war on Russia through a shock move to hike oil production. S&P Dow Jones Indices was forced...Read More
The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains. Both events have demonstrated just how interconnected the global economy is and have provided a wake-up call to businesses worldwide that it might be time to reduce their reliance on China as the workshop of the world. Of course, that's easier said than done. China is th...Read More
The new issue of Aluminium Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers key insights and forecasts into aluminium markets around the world.Aluminium price down 2.3% week-on-week amid stock market sell-offGlobal markets remain rattled by the spread of the novel coronavirus (2019-nCOV) across Europe and the United States. Panic-sellin...Read More
The new issue of the Seamless OCTG & Linepipe Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers analysis of seamless OCTG and linepipe across international markets:Covid-19 underscores pipe outlookUnsurprisingly, the concern in the seamless pipe markets across the regions is the effect of the spread of Covid-19 on public health and econo...Read More
The new issue of the Steel Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers key insights and forecasts into the long and flat products markets.This week's risks to our latest flat-rolled forecasts:The Chinese government is stepping up help to the economy, increasing banks' liquidity. But the spread of the coronavirus worldwide is likely...Read More
The rebounds in the metals toward the end of last week do seem to have been countertrend moves as expected; this morning, Monday March 23, the base metals are down across the board on the London Metal Exchange and Shanghai Futures Exchange. Asian Pacific equity indices were mainly lower this morning, the exception was Japan’s Nikkei, but it was closed on Friday for a national holiday, as such...Read More
U.S. equity index futures were higher this morning. Equity index futures dropped their regulated limit in overnight trading, but recovered strongly after the Federal Reserve indicated unlimited Quantitative Easing through purchase of U.S. Treasury bonds. S&P 500 futures advanced 32 points in pre-opening trade.Boeing gained $1.03 to $96.04 after Goldman Sachs upgraded the stock to Buy. Visa dro...Read More
Brazilian car producers Volkswagen, Fiat Chrysler, Toyota and Renault have announced collective holidays starting in April, following the same measures from General Motors (GM), Ford and Mercedes-Benz because of concerns about the spread of novel coronavirus (2019-nCoV).Volkswagen, the second-largest car producer in the country, will stop production at its four units in the country for two weeks s...Read More
Brazilian car producers Volkswagen, Fiat Chrysler, Toyota and Renault have announced collective holidays starting in April, following the same measures from General Motors (GM), Ford and Mercedes-Benz because of concerns about the spread of novel coronavirus (2019-nCoV).Volkswagen, the second-largest car producer in the country, will stop production at its four units in the country for two weeks s...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Fastmarkets' copper concentrates treatment and refining charge (TC/RC) index retreated during the week to Friday March 20 from its one-year high, reflecting expectations about falling supply from South American producers.A weekly brief on the Fastmarkets' copper concentrate index: The copper concentrate TC/RC index, cif Asia Pacific was calculated at $66.70 per tonne/6.67 cents per lb on Friday, d...Read More
The copper price closed below $5,000 per tonne on the London Metal Exchange, having traded no higher than $4,938 per tonne earlier on Friday March 20.The three-month copper contract ended at $4,810 per tonne, having bottomed out at $4,613 per tonne earlier despite 5,275 tonnes of warrants being cancelled. More than 25,000 lots changed hands.On-warrant copper stocks stand at 183,175 tonnes on Frida...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Chilean state-owned copper producer Codelco and the Federation of Copper Workers (FTC) - which represents all unions related to the miner - entered into an agreement on Friday March 20 to maintain some level of production in the company during the state of emergency declared by the federal government.While copper output will be adversely affected to some degree during the lockdown, workers and man...Read More
Fastmarkets' copper concentrates treatment and refining charge (TC/RC) index retreated during the week to Friday March 20 from its one-year high, reflecting expectations about falling supply from South American producers.A weekly brief on the Fastmarkets' copper concentrate index: The copper concentrate TC/RC index, cif Asia Pacific was calculated at $66.70 per tonne/6.67 cents per lb on Friday, d...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday March 20.China Seaborne manganese ore prices rose as concern of potential supply disruptions due to the novel coronavirus (2019-nCoV) sparked buying interest.Portside prices climbed after traders...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
The inter-merchant spot market for light iron scrap in the UK fell almost 19% over the week, marking an abrupt end to five weeks of stability, as major shredders cut their buying prices on expected weaker demand for steel from UK-based carmakers, sources told Fastmarkets.The move also follows a dramatic fall in European steel scrap export prices into Turkey this week which saw the market move down...Read More
Stainless steel scrap prices in Europe and the UK decreased this week because traders expect the coronavirus outbreak to substantially weaken demand in the coming weeks and months, sources told Fastmarkets on Friday March 20. Fastmarkets' weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?700-750 ($808-866) per tonne on March 20, down by ?30-40 per tonn...Read More