US-based metallurgical coal producer Warrior Met Coal has announced plans to develop a hard coking coal project in Alabama with a capacity of 3.9-million-tonnes per year, through an investment of around $550-600 million over the next five years.The company expects the development of the Blue Creek project to produce 4.3 million short tons per annum - 3.9 million tonnes - of premium high-vol A meta...Read More
Trading activity involving second-tier seaborne coking coal pushed up prices on Thursday February 20, though doubts lingered over recent strength of the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $158.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.13 per tonne, up $0.19 per tonneHard coking coal, fob DBCT: $141.63 per tonne, up $8.13 per tonneHard coking coa...Read More
The outbreak of the novel coronavirus (2019-nCoV), intra-year demand volatility and seaborne supply uncertainty are likely to contribute to iron ore price volatility in the coming year, Australia miner BHP said."If Covid-19 is effectively and demonstrably contained within the March quarter, we expect that an accelerated run-rate in the construction and manufacturing sectors for the remainder of th...Read More
China's domestic rebar prices were mixed on Thursday February 20, with a partial resumption of work by the construction sector providing support in the eastern region while the cold weather in the north kept demand in check.Eastern China (Shanghai): 3,400-3,430 yuan ($486-490) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,330-3,350 yuan per tonne, down 20-30 yuan per tonneSeveral key...Read More
China's stainless steel market saw some activity over the past week following several weeks of stagnation as a result of the novel coronavirus (2019-nCoV) outbreak in the country.The sparse trading led some sellers to cut their prices though some of their more optimistic peers raised them in anticipation of a gradual recovery of demand.Both the central Chinese government and local authorities have...Read More
The equity markets barometer suggests concerns over the economic impact of the novel coronavirus (2019-nCoV) have picked up again over the past 24 hours, with Asian equities weaker this morning, Friday February 21, as are most of the metals.We said on Thursday that markets were focused on coronavirus developments more so than the impact to supply chains, but it seems that traders are now getting m...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. Index futures were virtually unchanged following release of January Existing Home Sales at 8:30 AM EST. Consensus was a decline to 5.48 million from 5.54 million units in December. Actual was 5.43 million units.Royal Bank (RY $108.00 Cdn.) is expected to open higher after reporting high...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 19 that are worth another look.Chinese wire rod producers are keeping export offers stable on expectations of improved demand in April, market sources told Fastmarkets, which kept prices flat in the past week amid sparse trading.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama...Read More
The broad availability of zinc warrants across Europe meant that physical premiums in the region were stable in the week to Tuesday February 18, while a similar abundance of Middle Eastern supply kept Indian lead premiums flat.Meanwhile, premiums in both the United States and China were steady over the week, with static demand limiting any changes in the latter, while the bulk of the US market was...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 19. Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 19 that are worth another look.Chinese wire rod producers are keeping export offers stable on expectations of improved demand in April, market sources told Fastmarkets, which kept prices flat in the past week amid sparse trading.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 19.Key drivers The price range for ferro-titanium has not changed over the week to February 19, steady for two weeks despite low-key trading. No deals were reported in either alloys or titanium scrap. The markets were probably static due to the expected settlement of tenders issued by consumers for feedstock on a longer ter...Read More
Chinese importers could be able to buy United States' copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.Copper and aluminium scrap are among 696 products listed by the ministry that can have tariffs exempted. Importers can apply for exemptions starting from March 2, 2020.As part of a tit-for-...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 19 that are worth another look.Chinese wire rod producers are keeping export offers stable on expectations of improved demand in April, market sources told Fastmarkets, which kept prices flat in the past week amid sparse trading.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama...Read More
Key data from the Wednesday February 19 pricing session in London.Key drivers The price for manganese flake in Europe fell for the first time this year after Chinese producers gradually returned to the global market.Several market participants booked material from China on a cif basis for late March/early April delivery at $1,800-1,950 per tonne. And with most market participa...Read More
Chinese importers could be able to buy United States' copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.Copper and aluminium scrap are among 696 products listed by the ministry that can have tariffs exempted. Importers can apply for exemptions starting from March 2, 2020.As part of a tit-for-...Read More
The Turkish steel mills have continued to book deep-sea scrap for March shipments at slightly higher prices, sources said on Wednesday February 19.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20) at $279 per tonne, 15,000 tonnes of shredded at $284 per tonne and 6,000 tonnes of bonus at $289 per tonne cfr.The same mill booked a second Baltic...Read More
Japanese ferrous scrap export prices have risen over the past week amid tightening supplies and healthy demand from Vietnamese buyers, sources in Japan told Fastmarkets.Fastmarkets' inaugural price assessment for steel scrap H2 export, fob main port Japan was ?24,000-24,500 ($219-223) per tonne fob Tokyo Bay on February 19, up by around ?500-1,000 per tonne from prices heard last week. In t...Read More
After the broad-based dip on Tuesday February 18 that was partially triggered by Apple's sales warning, markets have recovered on Wednesday with equity indices in Asia stronger, as are pre-market western equity indices.Base metals prices on the London Metal Exchange were up across the board this morning, while those on the Shanghai Futures Exchange were mixed. Spot gold prices are holding on to Tu...Read More
The cobalt sulfate price in China has continued higher because of spot tight availability while refineries that suspended operations during the Chinese New Year holiday (January 24-February 2) have gradually resumed operations. Fastmarkets' price assessment of cobalt sulfate 20.5% Co basis, exw China was 57,000-58,000 yuan ($8,145-8,288) per tonne on Wednesday February 19, up by 0.9% fro...Read More