The pig iron market in the United States dropped again in the week to Friday March 27, but not as much as buyers anticipated because material availability fell considerably due to heavy sales to China.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne on Friday compared with $330-340 per tonne one week prior."Scrap is falling in April by $3...Read More
The price of austenitic alloy steel scrap in Europe plunged this week because of a sharp drop in demand, despite a lack of availability, sources told Fastmarkets on Friday March 27.The low demand has stemmed from a mixture of closures and reduced output rates at stainless steel mills, meaning a reduction in their feedstock requirements. In Italy, all mills have suspended operations following a gov...Read More
The price of ferrous scrap imported into India plummeted this week after the announcement of a 21-day lockdown across the country, sources told Fastmarkets on Friday March 27.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $247 per tonne on Friday. This was down by $44 per tonne from $291 per tonne one week earlier and at its lowest since October 24, 201...Read More
ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubar??o facility, in the country's southeastern Esp?-rito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.The blast furnace at the Tubar??o unit, which has capacity to produce 2.8 million tonnes of crude steel per year, will be halted in early April for...Read More
Prices in the export billet market in the Commonwealth of Independent States continued to weaken in the week to Friday March 27 on declining scrap prices in Turkey and a lack of demand.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $340 per tonne, down by $1 from $341 per tonne on Thursday, and by $13 per tonne week on week.The majority of traditional outlets for CIS billet...Read More
Export prices for Brazil-origin slab dipped for a second consecutive week on Friday March 27, with local producers turning to China to keep volumes going while other markets are muted because of the Covid-19 pandemic.Fastmarkets' weekly price assessment of steel slab, export, fob main port Brazil, fell to $330-350 per tonne on Friday, from $400-430 per tonne a week earlier.There were several repor...Read More
The price of stainless steel in the European domestic market increased this week with producers anticipating shortages following the closure of all production sites in Italy, sources told Fastmarkets on Friday March 27. On March 21, the Italian government issued a decree closing all non-essential production operations in the country, including steelmaking. Following this, many mills elsewhere in E...Read More
European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.All the major steel coil producers in Northern Europe - including ArcelorMittal, Thyssenkrupp, Salzgitter and Tata Steel - have taken steps to cut...Read More
ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubar??o facility, in the country's southeastern Esp?-rito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.The blast furnace at the Tubar??o unit, which has capacity to produce 2.8 million tonnes of crude steel per year, will be halted in early April for...Read More
Anglo American is expecting a production impact of 2-3 million tonnes at its Kumba iron ore operations in 2020, following a decision to operate with around half of its workforce during a 21-day lockdown in South Africa that started this week.The miner said on Friday March 27 that it had consulted with the government authorities and industry bodies in South Africa to determine and agree on the appr...Read More
State-owned Steel Authority of India (Sail) has joined the list of steelmakers in the country to reduce production levels following the lockdown imposed in India earlier this week.Sail is a major integrated producer of rebar, wire rod and hot rolled coil (HRC), and has a total crude steel capacity of around 21 million tonnes.In light of increasingly...Read More
ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubar??o facility, in the country's southeastern Esp?-rito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.The blast furnace at the Tubar??o unit, which has capacity to produce 2.8 million tonnes of crude steel per year, will be halted in early April for...Read More
The copper concentrate spot market has become active in Europe, Japan and South Korea as smelters look to cover tonnages disrupted by shutdowns and logistics hitches. Chinese smelters remain well covered.Fastmarkets' copper concentrates TC index, cif Asia Pacific dropped to $63.20 per tonne / 6.32 cents per lb, down from $66.70 / 6.67 cents, its lowest since February 7.Impact of virus-led lockdown...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday March 27.China The 21-day nationwide lockdown in South Africa, where all miners were ordered to cease operations from March 26 due to curb the spread of the Covid-19 virus, sparked concerns about supplies.Portside prices rose significantly after some traders raised...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Seaborne coking coal prices saw limited movement on Friday March 27, with market participant sentiment outside China decidedly bearish while those in China took a different view. Fastmarkets IndicesPremium hard coking coal, fob DBCT: $153.44 per tonne, up $0.41 per tonnePremium hard coking coal, cfr Jingtang: $158.03 per tonne, down $0.22 per tonneHard coking coal, fob DBCT: $139.89 per tonne, dow...Read More
Eastern China's hot-rolled coil prices continued to fall on Friday March 27 on thin trading. Exporters too reported thin trading amid the availability of cheaper cargoes from other countries such as India.DomesticEastern China (Shanghai): 3,330-3,350 yuan ($470-473) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, unchangedA Shanghai-based trader said sellers in th...Read More
The three-month tin price on the London Metal Exchange was higher during morning trading on Friday March 27, with prices supported by a cancellation of 700 tonnes out of LME-registered warehouses in Port Klang, while zinc futures showed signs of improvement. Tin's underlying price on the LME was recently seen at $14,310 per tonne, up from a morning low of $13,970 per tonne. Turnover was moderate a...Read More
The three-month copper price on the London Metal Exchange closed below the $4,800-per-tonne psychological threshold on Friday March 27, finishing at the day $4,790.50 per tonne with a turnover of just 11,475 lots.The underlying price hit an intraday high of $4,866.50 per tonne and a low of $4,768.50 per tonne on Friday.Copper's total LME on-warrant inventories remain high, at 177,025 tonnes o...Read More
The pig iron market in the United States dropped again in the week to Friday March 27, but not as much as buyers anticipated because material availability fell considerably due to heavy sales to China.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne on Friday compared with $330-340 per tonne one week prior."Scrap is falling in April by $3...Read More