An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
A summary of stainless steel producer Acerinox's financial results for October-December and the full year of 2019.In briefThe Spain-based company reported lower production as a result of reduced consumption, caused by the uncertainty and geopolitical tensions arising from the UK's departure from the Europan Union as well as increasing protectionism globally.Reduced earnings were linked to a provis...Read More
The price of stainless steel in the European domestic market was unchanged in the week ended Friday February 28, but decreases were expected from next week following mills' recent announcement of lower monthly alloy surcharges.The surcharges for grade-304 stainless steels came down substantially this week because of lower nickel prices. The nickel downturn also caused grade-316 surcharges to decre...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 28. China Novel coronavirus (2019-nCoV) continues to weaken sentiment for seaborne ore prices amid sharp falls in portside and alloy prices. Portside prices fell on aggressive bids...Read More
Monthly European alloy steel surcharges for March are down in response to lower nickel costs, sources told Fastmarkets on Friday February 28. In the case of grade-316 stainless steel, the fall in the surcharge was moderated by higher molybdenum prices. Fastmarkets' calculation of the stainless steel cold-rolled sheet, 316, 2mm, alloy surcharge, domestic, Europe, for March was ?,?2,040-2,...Read More
The novel coronavirus (2019-nCoV) that originated in China but has since spread to more than 40 countries poses a serious threat to the Chinese nickel market, with demand, and therefore prices, said to be at considerable risk in the short term.While supply of nickel remains largely steady despite reports of some output cuts in China, demand for the metal has been hit by the country's waning stainl...Read More
Exports of stainless steel scrap from the United States more than doubled in December compared with the prior month due to increased shipments to Taiwan and Canada, although shipments for the last year were down by 28% from 2018, according to the latest US Census Bureau data.Stainless steel scrap exports totaled 74,774 tonnes in December compared with 33,343 tonnes the previous month. For 2019, ex...Read More
Sino-Pakistani steel producer Al-Haj Asia Star Steel will begin production of steel rebar in northern Pakistan from early March and will enter the market for imported scrap, Fastmarkets has been told.Al-Haj Asia Star Steel is a joint venture formed in 2017 between Pakistani conglomerate Al-Haj Group and China's Hebei Xingang Iron & Steel Group.In its first six months of production, the mill will p...Read More
Taiwanese ferrous scrap buyers continued to purchase cargoes at high prices this week, although buying momentum slowed toward the end of the week on returning supply of Japanese scrap.Vietnamese buyers continued to focus heavily on Japanese scrap due to its large discount against materials from the United States' West Coast.VietnamFastmarkets' weekly price assessment for deep-sea bulk cargoes of s...Read More
The vast majority of copper and brass scrap imported into China could meet the criteria of reclassification as copper renewable materials, according to research by Jinrui Futures.Referencing the Chinese import data of 2019, 97% of the copper scrap products and 79% of the brass scrap products brought into the country last year could be renamed as copper renewable materials, Zark Huang, analyst with...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
The London Metal Exchange three-month zinc price trended lower over the course of Thursday February 27, briefly touching an intraday high of $2,057 per tonne before falling to a closing price of $2,012 per tonne amid a turnover of fewer than 10,000 lots.The forward spreads remained favorable for holding onto the galvanizing metal, with the benchmark cash-to-three-month spread recently trading in a...Read More
Growing Chinese copper output and an imbalance in trade terms between China and the west have led to a rising need for the European copper industry to guard its interests, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Thursday February 27."It's difficult to say [European copper market participants] don't have to worry," chief metal officer Marco Calamia from one of...Read More
Growing Chinese copper output and an imbalance in trade terms between China and the west have led to a rising need for the European copper industry to guard its interests, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Thursday February 27."It's difficult to say [European copper market participants] don't have to worry," chief metal officer Marco Calamia from one of...Read More
The Chinese domestic price for silico-manganese has drifted downward significantly in recent assessments because some alloy smelters reduced their offer prices to attract buying interest and generate cash amid the sluggish demand circumstances created by the outbreak of the 2019-nCoV coronavirus, market participants have told Fastmarkets.Fastmarkets' latest assessment of the price of silico-mangan...Read More
Key data from the Wednesday February 26 pricing session in Shanghai.Key drivers: Supply shortage in tungsten concentrate market prompted higher offers, though no deals were concluded. Some concentration plants...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
Cobalt hydroxide payables have stabilized over the past week, with buyers taking a more hesitant approach to restocking against an uncertain backdrop for cobalt consumption and prices in the coming months. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China was unchanged at 67-69.5% of the standard-grade cobalt price (low-end) on February 26. Payables had been rising steadily si...Read More
Turkish steel mills have continued to stay away from the deep-sea scrap markets to try to keep pressure on prices, sources said on Thursday February 27.After a buying spree in the past three weeks, the mills stopped their deep-sea purchases at the beginning of this week.The mills were very active in the deep-sea scrap markets in the period from February 4-24, booking at least 22 cargoes totaling m...Read More
Growing Chinese copper output and an imbalance in trade terms between China and the west have led to a rising need for the European copper industry to guard its interests, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Thursday February 27."It's difficult to say [European copper market participants] don't have to worry," chief metal officer Marco Calamia from one of...Read More