The zinc premium in the United States moved for the first time in nine months, hitting a more than three-year low amid slack demand stemming from the Covid-19 pandemic. Zinc premiums in northern Italy, meanwhile, rose after lockdown restrictions eased.Battery giant Exide Technologies is seeking Chapter 11 bankruptcy protection under US Bankruptcy Code, announcing plans to sale of its North America...Read More
The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied duty-unpaid US Midwest aluminium premium, as well as any changes to its methodology that may alter premiums and impact contracts based on their current methodology. Mary Jane Saunders, the trade association's General Counsel, said in a letter to the price reporting agency on May 18 that the proposal was "inco...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More
How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More
The smooth flow of material from South Africa will remain uncertain for a considerable period even after the country eased its restrictions on activity in response to the Covid-19 virus. South Africa entered lockdown on March 26, which severely tightened exports of 37% manganese ore, UG2 chrome ore and foundry grade chromite, among other materials. The government has since granted permission for m...Read More
China Iron & Steel Association (Cisa) forecasts the country could post a decline of 16 million tonnes in steel exports in 2020 amid the Covid-19 pandemic, sources told Fastmarkets. The association convened with several major mills on May 12 to address concerns of the country's rising imports against falling exports in the steel industry, two sources familiar with the meeting said. Steel export bus...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 20.Please click...Read More
The London Metal Exchange three-month copper price closed trading on Wednesday May 20 higher, on optimism of a possible slowing in the coronavirus-related economic downturn and while buying in the LME drove the price up and reduced arbitrage profits.LME copper's outright price closed at $5,442.50 per tonne on Wednesday afternoon, climbing over 1.6% from an intraday low of $5,328 per tonne, while t...Read More
The seaborne price indices for coking coal rose further on Wednesday May 20, except for the premium hard coking coal cfr China index. There was active trading in the seaborne market with several transactions reported.Fastmarkets indicesPremium hard coking coal, fob DBCT: $118.98 per tonne, up by $2 per tonne.Premium hard coking coal, cfr Jingtang: $124.62 per tonne, down by $0.29 per tonne.Hard co...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Early signs of post-lockdown demand recoveryWith major economies outside China reopening after the easing of their Covid-19-related restrictions on movement and industrial activity, last week's jump in the number of cancelled aluminium warrants on the London Metal Exchange may be an early sign that the post-lockdo...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 20.Please click...Read More
The London Metal Exchange three-month copper price closed trading on Wednesday May 20 higher, on optimism of a possible slowing in the coronavirus-related economic downturn and while buying in the LME drove the price up and reduced arbitrage profits.LME copper's outright price closed at $5,442.50 per tonne on Wednesday afternoon, climbing over 1.6% from an intraday low of $5,328 per tonne, while t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Early signs of post-lockdown demand recoveryWith major economies outside China reopening after the easing of their Covid-19-related restrictions on movement and industrial activity, last week's jump in the number of cancelled aluminium warrants on the London Metal Exchange may be an early sign that the post-lockdo...Read More
Asian spot aluminium premiums divert, with the MJP market edging up on higher deals amid China's open arbitrage window while the Southeast Asian market went down on lower offers from buyers, yet elsewhere, premiums were stable in a quiet market.Asian aluminium market active with MJP premium up but SEA down.European premiums steady amid low liquidity.United States premium holds despite vehicle prod...Read More
Daily PDFs will be downloadable until Monday May 25. After that, because of the UK's Spring Bank holiday, the next daily PDF will be downloadable on Wednesday May 27.Read More
Hot-rolled coil prices in the United States have remained slightly below $25 per hundredweight ($500 per short ton) while sources reported few transactions.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.72 per cwt ($494.40 per ton) on Wednesday May 20, down slightly from $24.81 per cwt on Tuesday May 19 but up by 1.4% from $24.39 per cwt a week earlier...Read More
While demand for coated steel products in the United States has been stable over the past month, prices dropped again, reflecting a lag against the previous downward trend that hit other flat-rolled steel products.Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US dipped to $32.75 per hundredweight ($655 per short ton) on Tuesday May 19, down by 5.8% from $34.75 per cwt in...Read More
Turkey has imposed additional duties on imports of several steel products with effect from Wednesday May 20, according to the Turkish Official Gazette.Imports of hot-rolled flat steel under HS codes 7208 9080 1012 and 7208 9080 2012 will be subject to 14% additional import duty until September 30, 2020.A 10% additional import duty will be applied to various cold-rolled flat steel under HS code 720...Read More
Domestic prices for heavy steel plate in Europe have been under pressure from limited trading activity, sources told Fastmarkets on Wednesday May 20."The market is very quiet. Buyers are not interested in placing orders because they have high stocks," a Northern European trader said."There are some signs of a slow recovery, but it is very slow. Generally speaking, demand is still absent, especiall...Read More