Italy's novel coronavirus (2019-nCoV) outbreak has so far failed to disrupt steel output or shipments, but market participants are concerned it could have a negative impact on the wider economy and on steel demand, sources told Fastmarkets. The Italian authorities have quarantined some regions in the north of Italy to try and contain the outbreak, with 11 towns and villages in the Lombardy an...Read More
Here are five Fastmarkets stories you might have missed on Monday March 2 that are worth another look.The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domesti...Read More
The Turkish steel producers have extended their absence from the deep-sea scrap markets in expectation of lower prices, but suppliers were holding firm, sources said on Monday March 2.After buying several cargoes in the first three weeks of February, the mills stepped back from purchase activity at the beginning of last week.The most recent deep-sea transactions had put the price of HMS 1&2 (80:20...Read More
The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26. The legal provision is traditionally used...Read More
CIS export slab export prices fell in the week to Monday March 2, with deals being done at lower prices and the size of the discount varying depending on the final destination, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $405-420 per tonne on March 2, down by $5-10 per tonne week on week.A 50,000 cargo of Ukraine-origin slab was rep...Read More
Steel billet prices in some global markets rose in the week to Friday February 28, supported by firm demand, sources told Fastmarkets.But the spread of the novel coronavirus (2019-nCoV) across the world, including rising infection numbers in other parts of Asia, such as South Korea and Japan, dampened market sentiment, sources said.Scrap prices declined during the week, with Fastmarkets' dail...Read More
China's domestic rebar prices dropped further on Monday March 2, but futures picked up following news that most industry sectors in the country have resumed work.Eastern China (Shanghai): 3,360-3,390 yuan ($482-486) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,260-3,290 yuan per tonne, down 60-70 yuan per tonneMore local governments have reported that various industries and projec...Read More
Here are five Fastmarkets stories you might have missed on Monday March 2 that are worth another look.The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domesti...Read More
The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26. The legal provision is traditionally used...Read More
The D? 1/4 sseldorf wire and tube fair has been postponed due to the spread of the novel coronavirus (2019-nCoV), the fair organizer, Messe D? 1/4 sseldorf, said on Saturday February 29.The international trade fair for wire, cable, tube and pipe industries was due to take place on March 30 to April 3. "We are following the recommendation of the crisis management team of the German government to ta...Read More
Global gross domestic product (GDP) growth and dry bulk trade are both facing uncertainty due to the spread of the novel coronavirus (2019-nCoV), though Chinese government stimulus measures are likely lend much-needed support, iron ore miner Rio Tinto said last week. "We are currently evaluating the impact of the Covid-19 [disease], which could create significant uncertainty for our business in th...Read More
The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.Local exporters that applied for the force majeure "legal shield" cover over 30 different sectors, according to a CCPIT announcement on its website on February 26. The legal provision is traditionally used...Read More
The D? 1/4 sseldorf wire and tube fair has been postponed due to the spread of the novel coronavirus (2019-nCoV), the fair organizer, Messe D? 1/4 sseldorf, said on Saturday February 29.The international trade fair for wire, cable, tube and pipe industries was due to take place on March 30 to April 3. "We are following the recommendation of the crisis management team of the German government to ta...Read More
Global gross domestic product (GDP) growth and dry bulk trade are both facing uncertainty due to the spread of the novel coronavirus (2019-nCoV), though Chinese government stimulus measures are likely lend much-needed support, iron ore miner Rio Tinto said last week. "We are currently evaluating the impact of the Covid-19 [disease], which could create significant uncertainty for our business in th...Read More
Here are five Fastmarkets stories you might have missed on Monday March 2 that are worth another look.The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domesti...Read More
Publication of Fastmarkets' assessment of blister copper refining charges (RCs) for February was delayed by a reporter error.The copper blister 98-99% RC, spot, cif China, is normally published on the last trading day of the month.The price should therefore have been published on Friday February 28. It was instead published on Monday March 2. The price was $135-145 per tonne in the latest assessme...Read More
Spot trading interest in copper intermediate products has surged among Chinese smelters who are eager to make up for copper output lost during the coronavirus (2019-nCoV)-led logistics lockdown in February. Logistics operations are resuming across Chinese provinces and copper production has picked up, leading to several thousand tonnes of blister copper reported as being sold into the country. Fas...Read More
Seaborne prices for both high- and-low grade manganese ore fell in the week ended Friday February 28 amid falling portside ore and alloy prices and a weakening of sentiment.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, was $4.32 per dry metric tonne unit (dmtu) on Friday, down by $0.14 per dmtu or 3.1% week on week.The corresponding index for manganese ore 37% Mn, fob Port Elizabeth, fell...Read More
Here are five Fastmarkets stories you might have missed on Monday March 2 that are worth another look.The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domesti...Read More
Copper futures on the London Metal Exchange rose by more than 1% on Monday March 2 as part of a global rally across asset classes.LME 3-month copper was trading at $5,700 per tonne at the exchange's 5pm close, up by $65 per tonne from the close on the preceding Friday.Gains across the base-metals complex came as other asset classes made big gains after a broad collapse toward the end of last week....Read More