Base metals prices on the Shanghai Futures Exchange were rangebound during morning trading on Monday February 17 with pessimism caused by the novel coronavirus (2019-nCoV) outbreak in China being tempered slightly by an announcement by the country's finance minister over the weekend.The minister, Liu Kun, wrote on Sunday in Qiushi, the Communist Party magazine, that his ministry would implement me...Read More
A summary of state-owned Steel Authority of India's (Sail) financial results for its third quarter covering the period of October to December, and the first nine months of its financial year 2019-20.In brief Sail reports higher sales and saleable steel production in the third quarter, but lower prices hurt earnings The company said the reduction in prices has hurt the financial performance of all...Read More
Domestic prices for hot-rolled coil in Northern Europe rose in the week to Friday February 14 despite offers from non-European suppliers returning to the market. Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?479.34 ($519.12) per tonne on Friday, up by ?,?7.67 per tonne from ?,?471.67 per tonne a week earlier on February 7. The index was calculated based...Read More
Tosyali Algeria plans to start production of hot-rolled coil by the end of 2022 and is targeting output of 2 million tonnes per year, a company spokesperson told Fastmarkets on Friday February 14.The steelmaker will mainly supply the material to automotive and white goods manufacturers, as well as to pipe makers,...Read More
The European Commission (EC) has initiated a review of existing safeguard measures into number of imported steel products, it said on Saturday February 15. "On the basis of [the European] Union interest considerations, [the EC] may have to review certain elements of the safeguard measures in order to take account of recent developments or changed circumstances. Furthermore, such a review should be...Read More
Import prices for steel slab in Southeast Asia and East Asia fell over the past week amid a downtrend in the regional hot-rolled coil market.The novel coronavirus (2019-nCoV) outbreak in China continued to weigh on prices for flat steel despite Chinese President Xi Jinping urging local businesses to gradually return to work. Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia...Read More
Turkish domestic scrap prices have rebounded over the past week following an upturn in imported scrap values, sources said on Monday February 17.In the middle of last week, imported scrap prices increased sharply in response to improved demand from Turkish steel producers.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $274.82 per tonne on February 14, up...Read More
Fastmarkets proposes to launch four new ferrous scrap import prices, further bolstering our coverage of Asian scrap markets.The new prices include two prices on a cfr South Korea basis and two on a cfr Bangladesh basis.South Korea is one of Asia's largest ferrous scrap importers, buying large volumes of scrap from origins such as Japan and the US West Coast. Bangladesh, a rapidly growing scrap imp...Read More
Seaborne iron ore prices were up on Monday February 17 amid the gradual return of workers after the extended Lunar New Year holiday in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.48 per tonne, up $1.81 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.81 per tonne, up $1.81 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.84 per tonne, up $2.05 per tonn...Read More
Anglo-Australian iron ore miner Rio Tinto has lowered its iron ore shipment guidance following infrastructure damage across its Pilbara operations in Western Australia. The miner now expects shipments of 324-334 million tonnes in 2020, down from a previous guidance of 330-343 million tonnes, it said on Monday February 17. "Rio Tinto's iron ore operations in Pilbara, Western Australia, are pro...Read More
Seaborne coking coal prices were steady on Monday February 17 amid a muted market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.43 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $161.28 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per...Read More
Seaborne iron ore concentrate and pellet demand were dragged down by the reduced appetite for steel products amid the ongoing novel coronavirus (2019-nCoV) outbreak.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $102.70 per tonne on Friday February 14, up by $3.63 per tonne from oa week earlier.Fastmarkets' daily index for iron ore 65% Fe Br...Read More
Demand for rebar in China's domestic market remained weak on Monday due to a lack of manpower in downstream sectors, which continued to put pressure on prices for the long steel product.Eastern China (Shanghai): 3,370-3,400 yuan ($482-487) per tonne, unchanged Northern China (Beijing): 3,370-3,400 yuan per tonne, down 50 yuan per tonneSellers in eastern China kept their offers flat amid weak deman...Read More
China's hot-rolled coil prices were unchanged on Monday February 17 amid thin trading, with tight cash flow making it hard for traders to place orders with mills.DomesticEastern China (Shanghai): 3,460-3,480 yuan ($495-498) per tonne, unchangedNorthern China (Tangshan): 3,230 yuan per tonne, unchangedA Shanghai-based trader said he had to stop buying from mills recently due to cash flow issues.Thi...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday February 14. ChinaKey driversFastmarkets' price assessment of antimony, MMTA standard grade II, ddp China, increased in the latest assessment period after some suppliers raised offer prices amid growing buying interest and limited cargoes. Most producers in central China's Lengshuijiang city, a major production hub, were h...Read More
Key data from the pricing session in Asia and Europe for the week ended Friday February 14. Europe Key drivers The prices for both grades jumped due to difficulties obtaining material from China because of transportation restrictions caused by policies to contain the coronavirus (2019-nCov). Some suppliers reported receiving inquiries from customers who normally buy from China, such as...Read More
Fragile...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.Su...Read More
Tighter restrictions have been implemented by...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 i...Read More
Aluminium The upside momentum in LME aluminium has...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 th...Read More
Copper prices supported by fresh buying 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