BMW has restarted vehicle production at some of its sites in Europe and the UK this week, while other locations would make similar moves next week, the company confirmed to Fastmarkets on Wednesday May 6.In late April 2020, the BMW Group began a staggered approach to restarts at its production locations, it said, with plant ramp-ups oriented toward the market. The exact dates for restarts would de...Read More

The three-month zinc price on the London Metal Exchange was the best performer at the close of trading on Wednesday May 6, with turnover at its highest since March 27, while the galvanizing metal continued a steady approach toward the $2,000 per tonne resistance level.Zinc's outright price on the LME closed at $1,975 per tonne on Wednesday afternoon, its highest closing price since March 11, rally...Read More

Business conditions for tin grew more difficult in the United States in the week to Tuesday May 5 - largely due to poor demand and the availability of free-floating LME tin warrants - putting pressure on premiums in the country; European markets were similarly subdued although premiums were stable over the past fortnight. US premiums fall due to absent demand.  LME warehouse availability shri...Read More

Christophe Koenig has been appointed head of global sales and marketing at Nornickel, the world's largest nickel and palladium producer. He will also become chief executive officer of Metal Trade Overseas AG, Nornickel's Switzerland-based sales division. Koenig previously managed sales...Read More

Tumbling demand for zinc in Northern Europe sent spot premiums in Rotterdam and Antwerp to their lowest levels in 15 years in the week to Tuesday May 5, while US market participants were also wary of a possible drop in premiums in the coming weeks due to soft demand. Spot zinc premiums for Northern Europe sank to their lowest levels in 15 years.  US zinc premiums steady week on week but mark...Read More

US steel imports surged in April on the re-opening of quarterly quota limits on slab from Brazil - and despite double-digit declines for some finished steel goods.The US imported 2.68 million tons of steel last month, up by 68.9% from March but down by 11.3% from April 2019, according to license data from the US Department of Commerce's Enforcement and Compliance division last updated on Tuesday M...Read More

Brazil-based steelmaker Gerdau expects the No2 blast furnace at its Ouro Branco mill - in the southeastern state of Minas Gerais - to resume production between the end of June and the beginning of July, chief executive officer Gustavo Werneck said on Wednesday May 6.The blast furnace was idled in early April amid tumbling demand due to the Covid-19 pandemic and falling export prices. It has capaci...Read More

The price for steel H-beams in Europe fell on Wednesday May 6, while low demand continued to restrict market sentiment, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?525-560 ($570-609) per tonne on Wednesday, down from ?,?535-570 per tonne one week before.Market participants have reported less trading activity in rec...Read More

Steel billet producers in Iran have been active in the Southeast Asian market in the week to Wednesday May 6, Fastmarkets has learnt.Several cargoes of Iranian billet scheduled for production and shipment in May were reported sold within the range of $340-342 per tonne to Thailand and Indonesia, sources said.A cargo scheduled for the Indonesian market was reported sold at $365-367 per tonne cfr, w...Read More

Broader markets were mixed this morning, Wednesday May 6, while base metals prices on the London Metal Exchange were up across the board. Base metals prices on the Shanghai Futures Exchange were mixed following Chinese participants’ return to the market after the country’s Labor Day holiday (May 1-5).* Asian-Pacific and pre-market western equity indices were mixed this morning.* Markets...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSpeaking as part of the NWR Virtual Resources Conference, Bond gave a macro backdrop that posited the current era as having strong historical similarities to the 1960s and 1990s in terms ofRead More

Turkish steel producers avoided the deep-sea scrap market on Wednesday May 6, amid lower finished steel output in Turkey, due to the measures introduced to curb the spread of the Covid-19 virus, sources told to Fastmarkets.The most recent deep-sea transaction took place at the end of the last week when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne for HMS 1&2...Read More

The seaborne iron ore market uptrend resumed on Wednesday May 6 due to more active trading after Chinese market participants returned from the Labor Day holiday on May 1-5. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.35 per tonne, up $0.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.24 per tonne, down $0.46 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $72.81 p...Read More

Seaborne premium hard coking coal fob Australia prices were steady on Wednesday May 6, with market participants mulling the impact of a mining production halt in Queensland - although many held on to a bearish outlook amid persistent demand worries. Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.63 per tonne, up $0.51 per tonne Premium hard coking coal, cfr Jingtang: $115.02...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesSeven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootThey were baffled because they were under the impression the meeting would take place online, so felt ir...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:15 AM EDT of the April ADP Employment report. Consensus was a decline of 20.20 million versus a decline of 27,000 in March. Actual was a decline of 20.2 million.General Motors gained $1.04 to $22.30 after repor...Read More

The seaborne iron ore market was depressed in April 2020 compared with the first quarter of the year, because of a slow recovery from a severe winter, but buying activity at Chinese ports remained resilient due to healthy short-term production by local mills, which kept the portside markets trading at a premium throughout the month.The monthly average price for 62% Fe iron ore slipped to $84.42 pe...Read More

Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation."Five people have been injured and transported to hospital. All of the injured people's families have been contacted," Anglo American said on Wednesday.Local media reports suggest that an explosion had occurre...Read More

The London Metal Exchange told Fastmarkets that it is confident there is enough capacity to meet the increasing demand to store metal in its warehouses across the globe. Demand for physical metal continues to decline following Covid-19 shutdowns in downstream sectors and premiums are falling, forcing stockholders to take up the option of storing their material in warehouses instead. Metal stock on...Read More

China's domestic hot-rolled coil prices picked up on Wednesday May 6, the first working day after a five-day break for Labor Day, which sparked expectations for growing imports.DomesticEastern China (Shanghai): 3,320-3,340 yuan ($470-473) per tonne, up 40-50 yuan per tonneNorthern China (Tangshan): 3,310 yuan per tonne, up 60-70 yuan per tonneMajor spot markets saw active trading during the day, w...Read More