Ferrous scrap prices in Mexico were stable or down in the steelmaking regions of Bajio and Monterrey during the week to Tuesday June 2 due to currency moves and the weak performance of the steel sector.At least two steel plants in the Baj?-o region announced a cut of 100 pesos ($4.50) per tonne in scrap values, which was reflected in lower prices for most grades assessed by Fastmarkets.Fastmarkets...Read More
Atlantic Nickel's Santa Rita mine in Brazil is on track to ramp up to 105,000 tonnes by the end of 2020 and has seen strong market demand for sulfide concentrate throughout the Covid-19 pandemic, its owner said. According to Appian Capital Advisory LLP, the mine has produced over 30,000 tonnes of nickel concentrate to date and has successfully completed its second and third shipments ahead of the...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More
Seaborne and portside manganese ore prices for low- and high-grade material in China declined in May, despite previous expectations that prices would rise, driven by tightening supplies from South Africa and falling port inventories. Strict Covid-19 restrictions in South Africa were expected to have a significant impact on deliveries, resulting in fewer deliveries to Chinese ports and putting upwa...Read More
The London Metal Exchange three-month lead price was the standout performer at the close on Tuesday June 2 on continued optimism over easing pandemic concerns, while continued unrest in the United States did little to cap upward price action across the complex.LME lead's outright price closed at $1,719.50 per tonne on Tuesday afternoon in a 2.5% rally that pushed the price to its highest settlemen...Read More
Chinese buyers say they are no longer looking to import aluminium, with the fading arbitrage potential ending what was an unusual and profitable trade. The arbitrage for bringing aluminium into China reopened for the first time since 2016 on May 6, with a marginal profit of $4.22 per tonne, according to Fastmarkets' calculations. It widened to $61.82 per tonne on May 20 before slipping to a loss f...Read More
Seaborne premium hard coking coal cfr China price rose on Tuesday June 2 after a transaction was signed at $120 per tonne, while prices for other segments remained relatively flat. Fastmarkets indices Premium hard coking coal, fob DBCT: $108.97 per tonne, down $0.05 per tonne Premium hard coking coal, cfr Jingtang: $116.88 per tonne, up $0.95 per tonne Hard coking coal, fob DBCT: $89.57 per tonne,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferrous scrap consumption rates of Chinese integrated mills appear to have declined this year on a per-tonne basis. This year has seen the ratio of pig iron to steel output tighten, leaving increasingly less room for scrap consumption. Over the first four months of 2020, the pig iron-to-steel ratio has been above the pr...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are on the increase in June. As far as this market is concerned, it appears as though the Covid-19 pandemic has had little impact so far, with prices on the most common grades of stainless steel just 2-4% lower than they were at the turn of the year in most markets.Even in Asia, a region often talked ab...Read More
Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned utility Zesco Ltd after a long-term supply contract between the copper producer and the Copperbelt Energy Corporation (CEC) expired.Zesco is now transmitting power via CEC infrastructure to KCM operations while the two parties finalize their agreement.A 20-year contract between CEC and KCM, which op...Read More
The Northern European hot-rolled coil market was largely stable on Tuesday June 2, with prices remaining under pressure from slow demand, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?403.00 ($448.44) per tonne on Tuesday June 2, up by ?,?0.50 per tonne from ?,?402.50 per tonne on Monday.Tuesday's index was calculated ba...Read More
The EU's plan to make electric vehicles a centerpiece of the continent's economic recovery has injected significant confidence into the global cobalt market, and has also renewed momentum for responsible sourcing across the whole supply chain, according to the head of Eurasian Resources Group (ERG).Recent government and industry association initiatives across the EU may also provide the boost requ...Read More
The London Metal Exchange three-month lead price was the standout performer at the close on Tuesday June 2 on continued optimism over easing pandemic concerns, while continued unrest in the United States did little to cap upward price action across the complex.LME lead's outright price closed at $1,719.50 per tonne on Tuesday afternoon in a 2.5% rally that pushed the price to its highest settlemen...Read More
Spot treatment charges (TCs) for zinc and lead concentrate continued their downward trajectories in May even as some South American miners announced restart of operations after two months of Covid-19 related shutdowns. Miners are in need of cash and keen to resume production but they face the challenge of a rising number of coronavirus cases in the continent, which the World Health Organizati...Read More
Chinese buyers say they are no longer looking to import aluminium, with the fading arbitrage potential ending what was an unusual and profitable trade. The arbitrage for bringing aluminium into China reopened for the first time since 2016 on May 6, with a marginal profit of $4.22 per tonne, according to Fastmarkets' calculations. It widened to $61.82 per tonne on May 20 before slipping to a loss f...Read More
The London Metal Exchange three-month nickel price was the standout performer during morning trading on Tuesday June 2, climbing by 1.4% and continuing the buying momentum that emerged on Monday, while declining LME tin stocks support the price. The nickel price was recently at $12,770 per tonne, up 1,4% against Monday's closing price of $12,626 per tonne. Trading volumes have been moderate so far...Read More
US hot-rolled coil prices continue to bob around $25 per hundredweight ($500 per ton) with price increases keeping them from falling too far, while uneven demand and mixed June scrap trends limit the upside.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.10 per hundredweight ($502 per ton) on Tuesday June 2, up 0.5% from $24.98 per cwt on Monday and up 1.5% from $...Read More
CIS export billet prices increased on Tuesday June 2, with China resuming bookings and accepting higher prices, sources told Fastmarkets.The increased cost of iron ore, an upswing in China's domestic rebar market and production cuts planned in Tangshan province supported interest in imported billet.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao was $101.32 per tonne on June 2, up...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in May 2020.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March and April this year.1. Egypt: finished steel2....Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week, but buyers preferred to wait to see whether price increases would be permanent, sources told Fastmarkets on Tuesday June 2.The reason for rising prices was the strong domestic demand in China.No deals were heard during the past week and steel demand was still soft after the Islamic holy month of Ramadan that...Read More