China's domestic hot-rolled coil prices were largely stable on Friday March 20 on the news of no new local infections of the novel coronavirus (2019-nCoV), but market participants expect export offers to drop soon on fierce global competition.DomesticEastern China (Shanghai): 3,440-3,450 yuan ($485-486) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tangshan): 3,350 yuan per ton...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Asian Pacific equity indices are firmer this morning, Friday March 20, as are many of the base metals and all of the precious metals, but given the worst no doubt lies ahead in terms of weaker demand for non-household consumables in Europe and the United States, the current upturn may be a countertrend move or a two-thirds-of-the-way-down pause.We say two thirds of the way down because most of the...Read More
Tesla is to temporarily suspend production at its factory in Fremont, in the US state of California, from the end of Monday March 23 in an effort to limit the spread of the novel coronavirus (2019-nCoV). This will allow an orderly shutdown, the company said, with basic operations to continue in order to support Tesla's vehicle and energy service operations and charging infrastructure, as directed...Read More
Mannesmann Stainless Tubes Italia - part of Salzgitter Group, located at Costa Volpino in Bergamo, Italy - will be shutting down production on Monday March 23, a source in the company has told Fastmarkets.The producers have decided to shut down the facility to help combat the 2019-nCoV coronavirus pandemic, sources said.The company...Read More
Stainless steel scrap prices in Europe and the UK decreased this week because traders expect the coronavirus outbreak to substantially weaken demand in the coming weeks and months, sources told Fastmarkets on Friday March 20. Fastmarkets' weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?700-750 ($808-866) per tonne on March 20, down by ?30-40 per tonn...Read More
Chinese non-ferrous scrap processors have halved their operation capacity while demand for copper semi-finished products, auto parts and battery waned following the coronavirus (2019-nCoV) outbreak for the first quarter, according to an industry briefing on scrap metal.Chinese aluminium and lead scrap processors were operating at only 40-50% of full capacity as of March 17 amid declining orders an...Read More
NICKEL TRADING CALLSNickel Trading Calls – Nickel Buy Call 2229 given at 860 Achieved 1st Target 870 & 2nd Target 880. Made High 885. Profit of 20 Points per lotTIPS ID 2229 : Free Nickel Intraday Tips - BUY Nickel at CMP 860 for Target 870 - 880 with SL 849 Read More
NICKEL FREE TIPS ONLINENickel Free Tips Online – Nickel Buy Call 2229 given at 860 Achieved 1st Target 870. Made 870 High. Profit of 10 Points per lotTIPS ID 2229 : Free Nickel Intraday Tips - BUY Nickel at CMP 860 for Target 870 - 880 with SL 849 Read More
Free Nickel Intraday Tips – BUY Nickel at CMP 860 for Target 870 – 880 with SL 849 Read More
Here are five Fastmarkets stories you might have missed on Thursday March 19 that are worth another look.Automobile manufacturers General Motors (GM) and Mercedes-Benz have enforced "collective holidays" at their Brazilian operations starting from March 30, in response to the novel coronavirus outbreak (2019-nCoV), the companies said on Wednesday March 18.Japan's demand for aluminium is the highes...Read More
The London Metal Exchange three-month copper price slightly improved at the close on Thursday March 19, up by 2% but firmly below the $5,000-per-tonne resistance level, while nickel recorded its highest daily trading volume since November 2016. Copper's underlying price on the LME closed at $4,830 per tonne this afternoon, while turnover was once again just below 30,000 lots over the day.Yet buyin...Read More
Japan's demand for aluminium is the highest in Asia but recently has been falling fast due to a slowing economy and the coronavirus (2019-nCoV) outbreak affecting downstream demand. Japan is the biggest buyer of aluminium in Asia, typically ratcheting up to more than 1 million tonnes per year of imports, but the industry is now experiencing a period of increasingly weak demand. According to t...Read More
Japan's demand for aluminium is the highest in Asia but recently has been falling fast due to a slowing economy and the coronavirus (2019-nCoV) outbreak affecting downstream demand. Japan is the biggest buyer of aluminium in Asia, typically ratcheting up to more than 1 million tonnes per year of imports, but the industry is now experiencing a period of increasingly weak demand. According to t...Read More
Key pricing data from the alumina index, fob Australia pricing session on Thursday March 19. Key drivers: Fastmarkets' daily alumina index, fob Australia declined 4.6% to $283.11 per tonne on Thursday, down from $297.23 per tonne the previous day and down 6.5% week on week when it was at $303.17 per tonne. A fresh deal concluded today for 30,000 tonnes of Indonesian material at $275 per tonne for...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 19 that are worth another look.Automobile manufacturers General Motors (GM) and Mercedes-Benz have enforced "collective holidays" at their Brazilian operations starting from March 30, in response to the novel coronavirus outbreak (2019-nCoV), the companies said on Wednesday March 18.Japan's demand for aluminium is the highes...Read More
The fall in cobalt hydroxide payables has accelerated over the past week on increasing concerns about a slowdown in the global economy and electric vehicle (EV) production due to the global spread of the novel coronavirus (2019-nCoV). Fastmarkets' cobalt hydroxide payable indicator fell to 65-68% against the standard-grade cobalt price (low-end) on Wednesday March 18, down 2.2% from 67-69% on...Read More
The Turkish deep-sea scrap import market was quiet on Thursday March 19, despite a sharp decrease in prices the day before, sources have told Fastmarkets.On March 18, a steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (90:10), 20,000 tonnes of shredded and 12,000 tonnes of plate and structural (P&S) scrap, at an average price of $255 per tonne cfr.Marke...Read More
Prices for bulk ferrous scrap cargoes imported into Bangladesh have fallen over the past week amid a deterioration in international scrap prices and heightened disruption created by the 2019-nCoV coronavirus pandemic, market sources told Fastmarkets on Thursday March 19.Bangladesh has provided a rare bright spot for bulk scrap sellers over recent weeks, with a strong local steel market and high co...Read More
Fastmarkets announces the launch of import ferrous scrap prices for the markets of Bangladesh and South Korea.These new price assessments, and accompanying written content, will significantly boost Fastmarkets' coverage of the Asia ferrous scrap complex, providing subscribers with accurate pricing data together with detailed and insightful market commentary.After undertaking an extensive consultat...Read More