Treatment charges (TCs) for spot zinc concentrates nosedived in April amid prolonged shutdowns in major producing nations of Peru, Bolivia, Mexico and South Africa, leaving smelters scrambling for material. Fastmarkets assessed the zinc concentrate TC, cif China at $180-195 per tonne on Friday April 24, a steep 28.6% fall from $255-270 per tonne the previous month. The low end of the range ha...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
More provincial governments in China are offering incentives to companies to purchase base metal products, in a highly unusual move to avoid inventory piling up at a time of demand uncertainty, Fastmarkets understands from official documents and industry sources.The last time the Chinese government bought metal stocks to relieve inventory pressure was more than a decade ago following the financial...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More
Turkish deep-sea scrap import prices dropped sharply at the start of the week on news of a fresh Baltic Sea cargo deal, sources told Fastmarkets on Monday April 27.A steel producer in the Marmara region booked a Baltic Sea cargo comprising 26,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 4,000 tonnes of bonus at $252 per tonne cfr.This compares with previous Baltic Sea deals done at $255-256...Read More
Turkish domestic scrap prices have increased over the past week amid limited supply, especially in the Marmara region, sources said on Monday April 27.At least two steel mills in the Marmara region have increased their buy prices for auto bundle scrap by 70-80 lira ($10-12) per tonne over the past week to be able to secure more material.Long and flat steel mill ??olakoglu increased its buy price f...Read More
First Quantum has cut its 2020 copper production guidance by 75,000 tonnes to 755,000-805,000 tonnes as a result of a reduction in production expectations at Cobre Panama due to the Covid-19 pandemic.This guidance range is dependent upon the Toronto, Canada-listed company receiving approval from Ministry of Health of the Republic of Panama (MINSA) to commence the restart of operations before or by...Read More
The team from Commerzbank clinched the top spot on the base metals leaderboard for the first-quarter 2020 base metals predictions with 97.98% accuracy while Glyn Lawcock of UBS took the top spot for precious metals predictions over the period with a 93.58% accuracy rating. For steel raw materials, Chris LaFemina of Jefferies topped the leaderboard with a 98.86% accuracy score. Click on the image b...Read More
Metals prices were for the most part stronger this morning, Monday April 27, as were Asian-Pacific equity indices, while gold prices were slightly weaker and US treasury yields were firmer - all suggesting a broad risk-on mood.Market participants seem to be focused on and optimistic about the plans for the gradual reopening of economies while countries get a handle on the Covid-19 pandemic. Pre-ma...Read More
Cobalt sulfate prices have managed to take a pause from the persistent downturn since mid-February despite lingering weak demand from electric vehicles (EVs), the major downstream consumer, Fastmarkets understands.Fastmarkets' cobalt sulfate 20.5% Co basis, exw China price was assessed at 43,000-45,000 yuan ($6,074-6,357) per tonne on Friday 24, unchanged for the fifth pricing session in a ro...Read More
After a consultation period, Fastmarkets has amended the frequency of its cobalt hydroxide payable indicator, min 30% Co, cif China, to twice weekly. From May 1, Fastmarkets will publish the cobalt hydroxide payable indicator every Wednesday and Friday. The frequency increase reflects market feedback and a review of typical data sets that are collected over the course of the week, both of which su...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
Domestic prices for hot-rolled coil in Northern Europe moved down over the week ended Friday April 24 due to limited demand and the bearish mood among buyers.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?443.13 ($479.42) per tonne on Friday, down by ?,?10.20 per tonne week on week and down by ?,?29.37 per tonne since the beginning of April.Official offers we...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Trading activity in the export wire rod and rebar market in the Commonwealth of Independent States remained sluggish in the week to Monday April 27 due to the effects of lower oil prices and the global Covid-19 pandemic.Wire rod offers were largely unchanged over the week, varying within the range of $390-420 per tonne fob Black Sea depending on the supplier and destination.Ukraine-origin material...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More
Turkish deep-sea scrap import prices dropped sharply at the start of the week on news of a fresh Baltic Sea cargo deal, sources told Fastmarkets on Monday April 27.A steel producer in the Marmara region booked a Baltic Sea cargo comprising 26,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 4,000 tonnes of bonus at $252 per tonne cfr.This compares with previous Baltic Sea deals done at $255-256...Read More
Turkish domestic scrap prices have increased over the past week amid limited supply, especially in the Marmara region, sources said on Monday April 27.At least two steel mills in the Marmara region have increased their buy prices for auto bundle scrap by 70-80 lira ($10-12) per tonne over the past week to be able to secure more material.Long and flat steel mill ??olakoglu increased its buy price f...Read More