China's domestic hot-rolled coil prices gained some strength on Monday April 27 despite losses in the futures market. Some optimism has also emerged among exporters with buyers in Pakistan starting to buy from China again.DomesticEastern China (Shanghai): 3,300-3,310 yuan ($466-467) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,240 yuan per tonne, up 10 yuan per tonneTrading activ...Read More
China's domestic rebar prices were unchanged on Monday April 27 amid steady demand, although the futures market experienced a decline. Domestic Eastern China (Shanghai): 3,420-3,450 yuan ($483-487) per tonne, unchanged Buyers raised their procurement rates during the day to stock up ahead of the May 1-5 Labor Day break in the country.The steady demand kept sellers from lowering prices despite...Read More
The London Metal Exchange three-month tin price increased during morning trading on Monday April 27, following a fresh cancellation of 285 tonnes, while strong buying in zinc futures pushed the metal to breach nearby resistance levels. LME tin's outright price was recently at $15,335 per tonne, a 3.3% incline from Friday's closing price of $14,890 per tonne, while turnover was high at more than 20...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
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
The Yunnan provincial government has called for leading enterprises to stockpile non-ferrous metals to support the economy in an announcement published on Sunday April 26. Yunnan businesses are being encouraged to stockpile a combined total of 800,000 tonnes of copper, aluminium, lead, zinc, tin, germanium and indium over a one-year period. Companies can pledge their products to secure bank loans...Read More
The price spread for Europe-origin high-carbon ferro-chrome widened to $0.15 per lb in the week ended Friday April 24 with deals reported at higher prices after the rebound in the ferro-chrome and charge chrome benchmark price for shipments in the second quarter of the year.The gap between the highest and lowest reported deal prices was almost $0.20 per lb, with signs of firmer fundamentals encour...Read More
The low-grade seaborne manganese ore price in China rocketed by 32.1% week on week on Friday April 24 after some buyers accepted the first offer made since South Africa went into lockdown on March 26. Fastmarkets' manganese ore index 37% Mn, cif Tianjin soared by $1.65 to $6.79 per per dry metric tonne unit (dmtu) on Friday, hitting a new high since November 23, 2018, when the index was $6.84...Read More
Arconic has resumed operations at its Massena, New York facility in the United States since Monday April 20 and expects to ramp back up operations at its Tennessee facility this week, the company said. It had previously temporarily idled the Tennessee facilities from Monday April 6 and its New York operations from Tuesday April 7 due to weaker automotive demand for aluminium products stemming from...Read More
Taiwan was the sole active buyer of ferrous scrap in the week ended Friday April 24 amid limited demand from other key markets.Turkey still out of spot marketUS recyclers pay more amid domestic shortageVietnamese buyers keep focus on Japanese scrapTaiwanese buyers pursuing containerized cargoesIndia lockdown still affecting market TurkeySteel mills in Turkey did not make any bookings for deep-sea...Read More
Metals prices were consolidating during morning trading on Tuesday April 28 after the promising start to the week faded on Monday, but talk that Chinese provincial governments are offering to subsidize inventory accumulation could well turn out to be a supportive factor. The mixed performance this morning is widespread with Asian-Pacific and pre-market western equity indices on divergent paths, wh...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 37 points in pre-opening trade.Pfizer gained $0.77 to $39.10 after reporting higher than consensus first quarter earnings.Merck dropped $1.58 to $82.40 after lowering sales and earnings guidance for remainder of the year. UPS fell $3.58 to $99.00 after reporting lower than consensus first quarter revenues and earnings...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...Read More
Here are five Fastmarkets stories you might have missed on Friday April 24 that are worth another look.Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said.When the oil price fell into negative price territory at...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-...Read More