The spot copper concentrate market continued to trade at lower treatment and refining charges (TC/RCs) in the week to Thursday May 7. Fastmarkets' copper concentrates TC/RC index, cif Asia Pacific dropped to $50.4 per tonne / 5.04 cents per lb on Thursday and is now down by 23.3% month on month from $65.70 per tonne / 6.57 cents per lb on April 3. Deals reported to Fastmarkets show Chinese s...Read More
The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.European steel association Eurofer has lodged a complaint with the EC, alleging that HRC has been exported from Turkey at dumped prices."In April 2020, a new [anti-dumping] investigation was opened into HRC from Turkey," ArcelorMit...Read More
The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.European steel association Eurofer has lodged a complaint with the EC, alleging that HRC has been exported from Turkey at dumped prices."In April 2020, a new [anti-dumping] investigation was opened into HRC from Turkey," ArcelorMit...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade. Index futures were virtually unchanged following release of the U.S. employment report at 8:30 AM EDT. Consensus for April Non-farm Payrolls was a drop to 22.000 million from 701,000 in March. Actual was 20.500 million. Consensus for the April Unemployment Rate was a jump to 16.0% from 4...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 6.Please click...Read More
The United States nickel briquette premium dipped at the top end of the range in the week to Tuesday May 5, pushed lower by increased selling momentum at lower levels, while nickel premiums in Europe and China remained flat.?EUR? Virus-weakened demand pushed US briquettes premiums lower?EUR? China public holidays and a lack of arbitrage opportunities kept regional premiums unchanged?EUR? Lack...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More
Ailing silicon producer Ferroglobe will delay filing its 2019 annual report by up to six weeks as a result of the Covid-19 pandemic, the company announced last week."With the uncertainties created by the Covid-19 pandemic and potential implications for Ferroglobe's operating environment and financial results, the company continues to prepare financial scenarios for the near term, which its externa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Turkish steel producers avoided the deep-sea scrap market on Wednesday May 6, amid lower finished steel output in Turkey, due to the measures introduced to curb the spread of the Covid-19 virus, sources told to Fastmarkets.The most recent deep-sea transaction took place at the end of the last week when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne for HMS 1&2...Read More
Christophe Koenig has been appointed head of global sales and marketing at Nornickel, the world's largest nickel and palladium producer. He will also become chief executive officer of Metal Trade Overseas AG, Nornickel's Switzerland-based sales division. Koenig previously managed sales...Read More
Broader markets were mixed this morning, Wednesday May 6, while base metals prices on the London Metal Exchange were up across the board. Base metals prices on the Shanghai Futures Exchange were mixed following Chinese participants' return to the market after the country's Labor Day holiday (May 1-5).Asian-Pacific and pre-market western equity indices were mixed this morning.Markets should be brac...Read More
Domestic prices for heavy steel plate in Europe have decreased over the past week due to poor demand, sources told Fastmarkets on Wednesday May 6.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was ?,?480-490 ($522-532) per tonne on May 6, down by ?,?10 per tonne from ?,?490-500 per tonne on April 29.The assessment is based on lower offers heard in t...Read More
Domestic prices for hot-rolled coil in Europe dropped again in the week to Wednesday May 6 due to slow trading activity, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?421.50 ($458.02) per tonne on Wednesday, down by ?,?1.50 per tonne from ?,?423.00 per tonne on Tuesday.Wednesday's index was calculated based on "workable" prices...Read More
Demand for flat steel products in Turkey was moderate in April despite the Covid-19 pandemic due to low stocks in the country, sources told Fastmarkets on Wednesday May 6.Turkish flat steel producers are fully booked until late June.Several carmakers stopped production in the country in March and April, but most have now resumed, or are planning to resume output in April and May.Steel output was a...Read More
US steel imports surged in April on the re-opening of quarterly quota limits on slab from Brazil - and despite double-digit declines for some finished steel goods.The US imported 2.68 million tons of steel last month, up by 68.9% from March but down by 11.3% from April 2019, according to license data from the US Department of Commerce's Enforcement and Compliance division last updated on Tuesday M...Read More
New orders in May are set to fall by 25% from a typical month - less than the 60% decrease seen at the end of March and in April - as steel demand starts to recover from the Covid-19 crisis in Brazil, Gerdau chief executive officer Gustavo Werneck said on Wednesday May 6.Construction site work in Brazil was down by 6% from the period before regional government quarantines to prevent the Covid-19 s...Read More
Brazil-based steelmaker Gerdau expects the No2 blast furnace at its Ouro Branco mill - in the southeastern state of Minas Gerais - to resume production between the end of June and the beginning of July, chief executive officer Gustavo Werneck said on Wednesday May 6.The blast furnace was idled in early April amid tumbling demand due to the Covid-19 pandemic and falling export prices. It has capaci...Read More