Seaborne iron ore prices plummeted on Monday March 23, with concerns about ex-Chinese demand took center stage, pushing Chinese participants to recalibrate their outlook on the steelmaking raw material.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $81.07 per tonne, down $6.91 per tonne 62% Fe low-alumina fines, cfr Qingdao: $82.17 per tonne, down $6.98 per tone58% Fe fines high-grade pre...Read More
Global ferrous scrap prices dropped again during the week to Friday March 20, with the spread of the novel coronavirus (2019-nCoV) continuing to weigh on markets and squeeze demand from steel mills.Turkish import prices record midweek plungeUS West Coast scrap flows begin to dry upTaiwan, Vietnam buyers delay bookings on expectations of further price dropsIndian import prices struggle amid weakeni...Read More
The copper price is coming off its worst week in almost a decade, but analysts feel there could be more downside for the metal as novel coronavirus (2019-nCoV) lockdowns globally wreck demand prospects. The London Metal Exchange three-month copper price closed at $4,810 per tonne on Friday March 20, down 11% from the start of the week and hit a three-year low of $4,371 per tonne on Wednesday. Gove...Read More
The London Metal Exchange three-month copper price was lower during morning trading on Monday March 23, with continued selling pressure pushing copper to test support at $4,500 per tonne, while a rewarranting of 4,566 tonnes led to nickel's decline this morning. Copper's underlying price on the LME was recently at $4,559 per tonne, down by 3% from Friday's closing price of $4,810 per tonne. Copper...Read More
China's domestic rebar prices dropped on Monday March 23 amid falling futures and destocking pressure. Eastern China (Shanghai): 3,460-3,490 yuan ($488-492) per tonne, down 40 yuan per tonne Northern China (Beijing): 3,360-3,400 yuan per tonne, down 20-30 yuan per tonne Rebar futures tumbled during the day amid concerns over how severe an effect the novel coronavirus (2019-nCoV) would have on...Read More
China's hot-rolled coil prices slumped on Monday March 23, with sentiment dampened after futures prices plunged amid global lockdowns due to the novel coronavirus (2019-nCoV) spread.DomesticEastern China (Shanghai): 3,370-3,400 yuan ($475-479) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,260-3,280 yuan per tonne, down 70-90 yuan per tonneSeveral traders said that sellers had to...Read More
China-based minor metals producer Vital Materials has acquired the Germany-based company FHR Anlagenbau, Vital told Fastmarkets on Friday March 20.The company - with headquarters in Ottendorf-Okrilla in Dresden, Germany - will be integrated into Vitals' thin film material business unit.The transaction completed on March 17 includes all assets, tangible and non-tangible from the previous owner Cent...Read More
Hermes Belous Freire has joined Sumitomo Corp as sales manager for cobalt briquettes. Belous Freire is currently based in Switzerland as a consultant, but will relocate to...Read More
The spread of the novel coronavirus (2019-nCoV) outside China has brought with it logistical restrictions, a reconsideration of raw material requirements and concerns over possible disruptions to supply in the coming weeks. Here are five things under consideration by the minor metals and ferro-alloys markets while the situation develops. Adjustments to delivery and payment terms to mitigate risk T...Read More
The rebounds in the metals toward the end of last week do seem to have been countertrend moves as expected; this morning, Monday March 23, the base metals are down across the board on the London Metal Exchange and Shanghai Futures Exchange. Asian Pacific equity indices were mainly lower this morning, the exception was Japan's Nikkei, but it was closed on Friday for a national holiday, as such, the...Read More
The price of stainless steel in the European domestic market was unchanged this week but the market was bracing itself for a substantial slowdown arising from the consequences of the 2019-nCoV coronavirus pandemic, Fastmarkets heard on Friday March 20.Distributors in Northern Europe reported that demand was largely steady, with customers taking their regular tonnages."March is looking like it will...Read More
Prices for imported UG2 chrome ore and Chinese spot high-carbon ferro-chrome dropped in the week to Friday March 20 due to a bearish outlook for the stainless steel market. Fastmarkets' South Africa UG2 concentrates index, basis 42%, cif China fell for a fifth consecutive week to a four-year low of $114 per tonne on Friday. This was down by $8 per tonne or 6.6% from $122 per tonne a week earl...Read More
Automotive manufacturers in the UK have announced production suspensions after measures taken by European governments to restrict the spread of the 2019-nCoV coronavirus pandemic led to a series of closures among other carmakers, creating problems that affect the supply chain and manufacturing.Ford UKUnited States-based Ford will bring forward scheduled summer shutdowns at its UK operations in Dag...Read More
The Italian government has ordered the closure of all non-essential production operations in the country, including steelmaking, as part of the measures to battle the 2019-nCoV coronavirus pandemic, prime minister Giuseppe Conte said on Saturday March 21.Flat steel producer ArcelorMittal Italia, however, will continue operations despite the new decree, the company told Fastmarkets on March 23.Ital...Read More
Ex-China...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.S...Read More
LME aluminium price dropped to the...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soo...Read More
Aluminium Bargain buying interest emerged on Tuesday March...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus dow...Read More
Copper suffers massive liquidation The LME...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issu...Read More
Unprecedented demand shock Attempts to...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as...Read More
Provisional demand growth downgrades We have made some...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the...Read More