Aluminium ingot and billet premiums in Italy held steady this week, but market participants there are bracing for major logistical disruptions because of the country's efforts to contain the novel coronavirus (2019-nCoV) outbreak.Italy is one of the hardest hit European nations, with more than 10,000 cases and more than 600 deaths as of Tuesday March 10 and the country has introduced emergenc...Read More
Chile recorded a 0.4% year-on-year increase in copper production during January, as higher output from Escondida and Collahuasi offset declines from Codelco, Anglo American Sur and BHP's Spence, according to copper commission Cochilco.The country produced 459,100 tonnes of copper content in the first month of 2020, compared with 457,100 tonnes a year earlier, the commission said on Tuesday March 1...Read More
Prices for hot-rolled coil in the United States fell slightly on Wednesday March 11 as fears about the impact of the novel coronavirus (2019-nCoV) on global economies deepened, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US finished the day at $28.81 per hundredweight ($576.2 per short ton), down 0.3% from $28.89 per cwt a day ago, and down 4.2% from...Read More
The price for steel H-beams in Europe was unchanged in the week ended Wednesday March 11, while the market waited for the upcoming monthly European scrap settlements, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-570 ($607-647) per tonne on Wednesday, unchanged week on week.Many European market participants were...Read More
Domestic prices for heavy steel plate decreased across Europe in a slow market after Italian authorities enforced a country-wide travel ban, sources told Fastmarkets on Wednesday March 11. Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was ?,?505-520 ($573-590) per tonne on Wednesday, down by ?,?5 per tonne week on week from ?,?510-525 per tonne on...Read More
China's iron ore imports rose by 1.5% year on year to 176.84 million tonnes in January-February 2020 amid the Lunar New Year shutdown and coronavirus (2019-nCoV) spread, the country's General Administration for Customs said.Before the Chinese New Year holiday, iron ore demand from China is typically quite good because steel mills prefer to restock material while blast furnaces (BFs) continue to wo...Read More
Turkish steel mills remained inactive in the deep-sea scrap import markets on Wednesday March 11 because of firm prices and weak billet and rebar markets, sources said.Although there have been no new bookings so far this month, suppliers have kept their offers largely stable.Offers for HMS 1&2 (80:20) from the United States remained at $280 per tonne cfr, while offers for similar material increase...Read More
Japanese export ferrous scrap prices have declined for a second consecutive week with a stronger yen making material from the East Asian country less attractive, sources told Fastmarkets on Wednesday March 11.Fastmarkets' price assessment for steel scrap H2 export, fob main port Japan, settled at ?22,500-23,000 ($215-220) per tonne on Wednesday, down by ?500-800 per tonne week on week from ?23,...Read More
Seaborne iron ore prices retreated on Wednesday March 11, with fresh concerns about weather-related disruptions to Australian supplies adding to worries over deliveries from Brazil.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $90.05 per tonne, down $2.04 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $91.09 per tonne, down $2.31 per tonne58% Fe fines high-grade premium, cfr...Read More
Seaborne premium hard coking coal prices were relatively stable on Wednesday March 11, with market participants focused on possible weather-related disruptions to supply and the state of demand from China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $158.22 per tonne, up $0.93 per tonnePremium hard coking coal, cfr Jingtang: $165.67 per tonne, down $0.99 per tonneHard coking coal, fob DB...Read More
Join Fastmarkets' free webinar on how the steel supply chain in Asia has responded to the novel coronavirus (2019-nCoV) outbreak, and what the next moves could be for the steel industry and its upstream raw materials. Register here for the webinar.Date Wednesday April 8 Time 9:30-10:30am (London time) Topics The impact of the coronavirus outbreak on China's and Asia's steel industry as w...Read More
The Shanghai grade-A copper premium increased in the week to Tuesday March 10 on improved arbitrage opportunities following a sharp drop in London Metal Exchange copper earlier in the week, while markets participants in Europe and the US struggle against robust copper cathode availability.Shanghai market participants capitalize on import arbitrage opportunitiesLME warrant availability hampers dip-...Read More
LME three-month base metals prices were broadly trading down in the morning session on Wednesday March 11 while the complex oscillates between positive news from China and more precautionary economic measures taken in other regions to quell the impact of novel coronavirus (2019-nCoV). In the United Kingdom, the Bank of England cut interest rates by 0.5% to its lowest-ever rate of 0.25% - ...Read More
China's domestic hot-rolled coil prices gained strength on Wednesday March 11 amid improved sentiment generated by government measures encouraging businesses to return to work.DomesticEastern China (Shanghai): 3,510-3,520 yuan ($505-506) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,340 yuan per tonne, up 30-50 yuan per tonneA Shanghai-based trader said trading activity picked up on...Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 11.Key drivers:Price range widens, marking the first move in five weeks, with the bottom end dropping ten cents amid no trades reported in Europe. One sale of around 50 tonnes reportedly done in China at...Read More
Key data from the pricing session in Shanghai on Wednesday March 11. Key drivers Cautious downstream buying following a plunge in futures prices on Monday pushed the metal price down, though most consumers have resumed normal operations.Market participants anticipate an oversupply in the domestic market...Read More
Metal mining might not be the first thing that comes to mind when people think of green economics but Boliden chief executive officer Mikael Staffas thinks European lawmakers should pay heed to the industry while they begin to stake out policies designed to reduce carbon emissions on the continent."Everybody wants to do something with the climate and drive an electric car, but no one wants to have...Read More
Base metals were mixed this morning, Wednesday March 11, while the pre-market Dow Jones Industrial Average Index (DJIA) was off by 700 points, this after a 1,167-point rise on Tuesday.Markets were disappointed that US President Donald Trump did not announce concrete stimulus/support measures on Tuesday, but measures are still expected in the United States sometime soon and the Wednesday's annual b...Read More
China-based minor metals producer Vital Materials has started to double production of infrared lenses, the company told Fastmarkets.Vital's monthly production capacity of infrared lenses is more than 100,000 units of lenses and this will be doubled, with the company targeting 200,000 components by the end of the month.Each lens contains between 10g and 500g of infrared germanium, depending on the...Read More