RAPAPORT... Swiss watch exports fell in February, as the coronavirus pandemic led to the worst monthly decline in Hong Kong in the last 20 years.Shipments dropped 9% to CHF 1.6 billion ($1.62 billion) for the month overall. Supply to Hong Kong dropped 42% to CHF 142.6 million ($144.6 million) and to China plunged 52%. Exports to the US, which hadn't yet been affected by the coronavirus, continued...Read More
Production cuts, closures and weak steel trade resulting from the global spread of the novel coronavirus (2019-nCoV) sent Turkish scrap import prices sharply down again on Tuesday March 24.News of a trade from March 19 emerged today, when a steel mill in the Iskenderun region booked a UK cargo of 15,000 tonnes of HMS 1&2 (80:20) at $226 per tonne cfr.That was substantially lower than&nbs...Read More
Metals scrap processor Sims UK has stopped taking in material at its Sheerness processing plant near London due to the novel coronavirus (2019-nCoV) outbreak, the company told Fastmarkets on Tuesday March 24.Sims is the second-biggest ferrous scrap company in the UK, with around 42 metal recycling plants in the country, and has the capacity to process about 300,000 tonnes of scrap metal at th...Read More
Mining giant BHP has seen no decline in demand for its products despite the continuing spread of the 2019-nCoV coronavirus pandemic, and the company will remain resilient to any future drop in consumption or commodity prices, its chief executive officer has said.As the pandemic situation evolves, Mike Henry said, the company will take even stronger measures to protect its workforce, the communitie...Read More
Seaborne iron ore prices strengthened on Tuesday March 24 after a massive drop of nearly $7 per tonne the previous day, with market participants awaiting clarity on the impact of the 21-day lockdown in South Africa on iron ore operations in the country. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $83.97 per tonne, up $2.90 per tonne 62% Fe low-alumina fines, cfr Qingdao: $85.50 per ton...Read More
Seaborne coking coal prices dropped further on Tuesday March 24 amid bearish sentiment among traders and consumers based on the bleak global economic outlook due to the spread of the novel coronavirus (2019-nCoV).Chinese customs clearance hurdles and a narrowing spread between seaborne and Chinese domestic coking coal prices also added to the downbeat market mood.Fastmarkets IndicesPremium ha...Read More
The three-month tin price on the London Metal Exchange improved during morning trading on Tuesday March 24, wiping out Monday's losses in a 5% rally, while copper futures similarly found support in a steady push above $4,800 per tonne. Tin's underlying price on the LME was recently seen at $13,880 per tonne, climbing from Monday's closing price of $13,250 per tonne, while turnover was high, with&n...Read More
Ex-China...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.S...Read More
China's domestic rebar prices were mixed on Tuesday March 24, with those in the eastern region dipping while the northern market held steady amid fluctuating futures. Eastern China (Shanghai): 3,450-3,480 yuan ($486-490) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,360-3,400 yuan per tonne, unchangedRebar futures dropped to a low of 3,373 yuan per tonne in the first 10 minutes of...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesChile, which accounts for 28% of global copper mine supply, has entered a "state of catastrophe", with a number of mines shut down in response.Read More
LME aluminium price dropped to the...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 soo...Read More
Northern China's hot-rolled coil prices were stable on Tuesday March despite drops in the eastern region, with construction demand keeping the market supported.DomesticEastern China (Shanghai): 3,360-3,380 yuan ($473-476) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, narrowing upward by 20 yuan per tonneMills in the northern region kept ex-works prices stable...Read More
Aluminium Bargain buying interest emerged on Tuesday March...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 dow...Read More
The three-month London Metal Exchange tin price has fallen by more than 33% since the start of the year, rendering it the laggard among its peers in a market-wide sell-off that has seen commodity prices tumble. The LME's smallest market however, which today boasts an open interest count of just 19,041 active positions - a three-month low - has some way to go before price recovery, according to mar...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 resourcesThe convenience of one provider with pay-as-you-need flexibilitySPONSOREDmicromineIn an open letter to workers, he said the price decline and impact of the Covid-19 virus was "drastical...Read More
Copper suffers massive liquidation The LME...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 issu...Read More
Asian Pacific equity indices and most metals prices are stronger this morning, Tuesday March 24, boosted by a combination of broad-based fiscal and monetary policy, and for the metals, announcements of production cuts. The base metals were for the most part stronger on the London Metal Exchange and Shanghai Futures Exchange, while gold is up too, having rallied by 4.6% on Monday. But, without want...Read More
Xanadu will manage exploration at the Red Mountain joint venture, with the agreement not covering the Xanadu's flagship Kharmagtai project 265km to the west where 1.9 million tonnes of copper and 4.Read More
Unprecedented demand shock Attempts to...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
Provisional demand growth downgrades We have made some...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...Read More