The Liberty Steel Group, part of the GFG Alliance, has formed a new board of directors with new chief executives appointed in the UK and United States to complete the consolidation of its global businesses, the company announced on Wednesday April 15. The appointment of the new global leadership team completes the final part of the consolidation, which began in October 2019, when the GFG Alliance...Read More
No market has been left untouched by the escalating coronavirus pandemic, but iron ore prices have proved relatively buoyant for the past two months compared with the price plunges we have seen in other commodities.While copper and aluminium prices fell to four-year lows, the iron ore benchmark only dipped to a three-month low. The iron ore benchmark first dipped to nearly $80 per tonne in the beg...Read More
The Asian ferrous supply chain is emerging from a slowdown caused by the Covid-19 pandemic ahead of the rest of the world, with demand recovering quicker here than in other regions.Key markets for flat and semi-finished steel as well as ferrous scrap in Asia are seeing prices being supported.This is in line with projections made by the International Monetary Fund about how emerging and developing...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 15.Please click...Read More
The three-month tin price on the London Metal Exchange was the worst performer across afternoon trading on Wednesday April 15, dipping by just less than 2% and wiping out gains made earlier in the day, while aluminium futures held above nearby support despite continued inflows.Tin's outright price on the LME closed at $15,093 per tonne at the 5pm close, falling from an intraday high of $15,425 per...Read More
Copper cathode premiums in Asia continued to rise in the week to Tuesday April 14, with the prospect of a VAT cut in China leading to an increase in imports, while broadly weak demand and positive forward spreads kept premiums steady in Europe and the US. Chinese market eyes VAT reduction margin in premium riseStagnant demand hinders European spot businessUnited States looks ahead with market...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
Prices for steel rebar in Europe remained broadly stable over the past week, while trading in most markets remained slow, sources told Fastmarkets on Wednesday April 15.Last week, Italy extended its lockdown until May 3, leaving steel off the list of the "essential" industries allowed to continue operations.Nonetheless, some Italian steelmakers were still operating, having restarted...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 15.Please click...Read More
Industry association European Aluminium has launched a strategic plan to maximize Europe's aluminium recycling rates and keep the material in active use.According to the Brussels-based group, increased recycling rates can help Europe to reduce its dependency on imports and therefore its exposure to the risk of supply disruptions, which have been widespread across the metals and mining industry dur...Read More
The three-month tin price on the London Metal Exchange was the worst performer across afternoon trading on Wednesday April 15, dipping by just less than 2% and wiping out gains made earlier in the day, while aluminium futures held above nearby support despite continued inflows.Tin's outright price on the LME closed at $15,093 per tonne at the 5pm close, falling from an intraday high of $15,425 per...Read More
Most stainless steel scrap prices in the United States inched up slightly week on week while the supply chain continues to tighten due to lockdowns to limit the spread of the Covid-19 disease."Are we in a way worse scenario than 2008-something akin to the 1930s depression, or a blip that will be over and done in six months and we are back to something near normal?" one major processor asked.Scrap...Read More
Copper cathode premiums in Asia continued to rise in the week to Tuesday April 14, with the prospect of a VAT cut in China leading to an increase in imports, while broadly weak demand and positive forward spreads kept premiums steady in Europe and the US. Chinese market eyes VAT reduction margin in premium riseStagnant demand hinders European spot businessUnited States looks ahead with market...Read More
Global mining company BHP has stopped tendering spot market copper concentrates from its Escondida mine, informed sources have told Fastmarkets. Escondida in Chile, which produced 1.19 million tonnes of copper last year - around 5% of global supply - traditionally sells substantial volumes of concentrates on the spot market, with traders bidding against each other to win cargoes. But the company h...Read More
Global spot-market zinc premiums remained unchanged in Europe and the US in the week to Tuesday April 14 while the markets remain in the grip of uncertainty amid the Covid-19 pandemic.European zinc market participants positive over possibility of resumed trading activity later in April.US zinc sources are yet to see a significant demand hit, but some are bearish on the spot premium in the coming w...Read More
Hot-rolled coil prices in the United States have remained below $25 per hundredweight due to uncertainty in the market and muted buying activity.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.92 per hundredweight ($498.40 per short ton) on Wednesday April 15, up by 0.6% from $24.78 per cwt on Tuesday April 14 and up by 2.2% from $24.38 per cwt a week earlier on.....Read More
Sales of steel slab by Russia's largest steelmaker, Novolipetsk Steel (NLMK), increased in January-March 2020 mainly on shipments to its Northen European joint venture - NLMK Belgium Holdings (NBH) - according to an operational report released by the company on Wednesday April 15.The company's slab sales came to 1.67 million tonnes in the first quarter of 2020, up by 11% compared with 1.497 millio...Read More
Italian flat steel re-rollers have resumed their operations after the stoppages requested by authorities to prevent the spread of the Covid-19 pandemic, market sources told Fastmarkets on Wednesday April 15.On March 21, the Italian government ordered the closure until April 3 of all non-essential production operations in the country, including steelmaking, as part of the measures to battle the pan...Read More
The price of mesh-quality steel wire rod in Europe was unchanged this week amid a quiet market, with buying being limited by the effects of the Covid-19 pandemic, sources told Fastmarkets on Wednesday April 15.This week in Northern Europe, trading was reported to be slow, with demand from end-users diminished by the quarantine measures that have been imposed.Fastmarkets' weekly price assessment fo...Read More
Prices for hollow steel sections in Europe were unchanged this week because trading activity failed to revive after the Easter weekend break, sources told Fastmarkets on Wednesday April 15.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-610 ($646-668) per tonne on Wednesday, unchanged week on week.Last week, it was reported that mil...Read More