Lead stocks in Shanghai Futures Exchange-approved warehouses slumped the most of all the base metals in percentage terms - by 31.9% - to 22,514 tonnes in the week to Friday March 20. The outflow mainly came from the Zhejiang Tianchu warehouse in Shanghai, with a fall of 10,570 tonnes from 33,084 tonnes one week earlier. "Production decrease of secondary lead...Read More
Seaborne iron ore prices plunged on Friday March 20 as concerns about the impact of the novel coronavirus (2019-nCoV) on downstream businesses outside China emerged.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.98 per tonne, down $3.38 per tonne 62% Fe low-alumina fines, cfr Qingdao: $89.15 per tonne, down $3.22 per tone58% Fe fines high-grade premium, cfr Qingdao: $76...Read More
Seaborne coking coking coal prices moved in different directions on Friday March 20, with the fob-Australia index dropping amid demand concerns, while cfr-China prices were pushed higher by a transaction, indicating improved demand for the raw material in the country.Fastmarkets IndicesPremium hard coking coal, fob DBCT: $160.65 per tonne, down $2.50 per tonnePremium hard coking coal, cfr Jingtang...Read More
Base metals prices on the London Metal Exchange were markedly higher during morning trading on Friday March 20, with most three-month prices gaining more than 3% over the Asian trading hours, while a fresh inflow of some 65,175 tonnes of aluminium doused the light metal's price recovery. Topping gains over the morning, the LME tin price recently traded 4.5% higher at $14,150 per tonne, up from a m...Read More
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