If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More
Car manufacturer Groupe PSA - maker of the Peugeot, Citroen, Opel and Vauxhall brands - has announced a "progressive and secured restart of Groupe PSA manufacturing sites."The restarts would be guided by the resumption of commercial activities, the company said on Monday May 4.Its various sites across Europe closed from March 18 because of the disruption affecting its majo...Read More
Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also runs assets in Europe and the United States, expects steel demand to show a double-digit drop in home markets in the second quarter of 2020 and for the full year, the company said on Thursday April 30."In Russia, we expect a double-digit decline in steel consumption in May and June, with potential recovery starting in July," chief e...Read More
The Egyptian parliament has this week requested the government add a 10% import duty on finished steel products to protect local steel production, Egyptian market sources told Fastmarkets.The government has not yet approved or rejected the proposal but, if accepted, flat steel producers will benefit from the new duties, sources said.Egypt already imposes a definitive safeguard duty of 16% of the c...Read More
A summary of the financial results of German metals distributor Kl??ckner & Co for the first quarter of 2020.In brief Continued weakness in the automotive, machinery and energy sectors, especially in Germany and the United States, weighed on Kl??ckner's results for the first quarter of 2020 Around 90% of Kl??ckner's branches are still operational, with the majority of closures in France&...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...Read More
If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 5.Please click...Read More
Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also runs assets in Europe and the United States, expects steel demand to show a double-digit drop in home markets in the second quarter of 2020 and for the full year, the company said on Thursday April 30."In Russia, we expect a double-digit decline in steel consumption in May and June, with potential recovery starting in July," chief e...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...Read More
If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More
The sharp decline in emerging market currencies combined with a collapse in oil prices are providing a twin saving grace for many metals and mining companies during the Covid-19 pandemic. For producers of energy-intensive metals like aluminium, and in particular the low-cost ones, the benefit is even greater. It's an emerging trend that is starting to be reflected in the earnings of corporates in...Read More
The Covid-19 pandemic may well provide Freeport-McMoRan with a silver lining it had never expected. The US copper producer is discussing with the government of Indonesia what should be done with the planned smelter in the Gresik region in the province of East Java. It has been forced to delay the completion timeline of December 2023 for the plant, due both to Covid-19-related disruptions to the wo...Read More
The trend for China to actively import relatively cheap iron metallics and semi-finished steel products seen in 2019 continued into the first quarter of this year, but can this be sustained? The answer to this question will come down to the price-competitiveness of the products, as Fastmarkets' research team detailed in the 2020 preview series earlier in the year. As the chart below illustrat...Read More
London Metal Exchange three-month base metals prices rose on Tuesday May 5, buoyed by increasing optimism for an increase in demand amid expectations that Covid-19 trade restrictions will continue to be eased in some parts of Europe while China's restart gathers momentum. China's market absence - due to the Labor Day public holiday from May 1 to May 5 - failed to dampen upward price momentum acros...Read More
The Singapore Exchange's (SGX) 65% Fe iron ore derivatives contract registered another strong month with 3.3 million tonnes traded in April, according to SGX data published on Tuesday May 5. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.04 per tonne, unchanged. 62% Fe low-alumina fines, cfr Qingdao: $86.70 per tonne, unchanged. 58% Fe fines high-grade premium, cfr Qing...Read More
Seaborne coking coal prices were unchanged on Tuesday May 5 in the absence of Chinese market participants observing a holiday for Labor Day, but pessimism is growing amid a negative outlook for Indian demand.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.12 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $117.33 per tonne, unchangedHard coking coal, fob DBCT: $93.26 per to...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: 'Sell the rally' mentality here to stayAlthough the London Metal Exchange aluminium price has managed to recover modestly from recent lows, we suspect this is mostly short-covering. The lack of producer restraint, growing exchange inventories, a weak demand outlook and the 7 million tonnes of oversupply forecast f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: 4-million-tonne surplus for 2020We have made further downward revisions to our aluminium demand expectations for 2020 and, although there have been smelter capacity reduction in China too, the net effect is that our forecast for the global surplus this year has swelled to 4 million tonnes, from 2.7 million tonnes...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Average LME aluminium price down by 2.5% week on weekAlthough LME aluminium began this week on the rebound, prices extended their recent downtrend further last week, approaching the $1,400-per-tonne level. The weekly average LME aluminium cash price was down 2.5% last week to $1,432.50 per tonne from previous week's $1,469.6...Read More