Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More
The new issue of the Seamless OCTG & Linepipe Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers analysis of seamless OCTG and linepipe across international markets:Covid-19 underscores pipe outlookUnsurprisingly, the concern in the seamless pipe markets across the regions is the effect of the spread of Covid-19 on public health and econo...Read More
The new issue of the Steel Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers key insights and forecasts into the long and flat products markets.This week's risks to our latest flat-rolled forecasts:The Chinese government is stepping up help to the economy, increasing banks' liquidity. But the spread of the coronavirus worldwide is likely...Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
Chris MarcheseChief Mining Analyst, GoldSeek & SilverSeekSilver Seeker ReportGet First Access to Part II of the Report While there are a dearth of primary silver producers and even fewer quality companies, the same can't be said of the next generation of primary silver producers. With the exception of Pan-American, Hochschild, Hecla, Fortuna, Fresnillo and arguably First Majestic Silver, there...Read More
Domestic prices for hot-rolled coil have been largely unchanged in Europe due to the limited trading activity resulting from the lockdown measures put in place to combat the Covid-19 virus, sources told Fastmarkets on Thursday March 26.Domestic prices for hot-rolled coil have been largely unchanged in Europe due to the limited trading activity resulting from the measures put in place to comba...Read More
The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Thursday March 26, climbing by just over 3% to close at its highest level since March 16, while copper futures found support above the $4,800 per tonne threshold.Lead's underlying price on the LME closed at $1,685 per tonne, an increase of more than 3% from its intraday low of $1,635.50...Read More
AMAG Austria Metall AG is seeking permission from the Austrian government to place staff at its Ranshofen plant on short-time working from Wednesday April 1 while the Covid-19 pandemic reduces demand.AMAG, which supplies aluminium cast and flat rolled products to a variety of industries from Ranshofen, said that it has particularly seen a downturn in orders from the automotive industry."Plant clos...Read More
Sumitomo will temporarily stop operations at its Minera San Cristobal zinc-lead mine in Bolivia due to national restrictions imposed to contain the spread of the Covid-19 virus.On Thursday March 26, Sumitomo published a statement online, which said that it had decided to suspend operations due to all-day or night curfews being imposed in...Read More
A summary of the full-year financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) in 2019, as reported by parent company Votorantim on Thursday March 26.In brief Brazilian demand for both upstream and downstream aluminium products fell in 2019, putting sales volumes under pressure.Lower aluminium prices and local premiums, alongside declining demand for the.....Read More
Glencore is placing its Raglan nickel, Matagami zinc and South African ferro-alloys operations on care and maintenance in response to Covid-19, the company said. Raglan and Matagami are both in Qu?(C)bec, Canada, where the government has ordered all non-essential businesses to close. The operations will be shut for three weeks. Located at the extreme limit of Northern Qu?(C)bec, the Raglan mi...Read More
A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a cif basis of $82 per tonne over the London Metal Exchange cash price, sources confirmed to Fastmarkets on Thursday March 26. This is the first deal between a producer and end consumers to be confirmed for the second quarter, according to market sour...Read More
European automaker and subsequent smelter shutdowns in the United Kingdom - enforced to halt the spread of the coronavirus - drove secondary aluminium ingot prices down in the region to an 11-year low on Wednesday March 25.European carmaker closures to combat the virus, which started in earnest with Volkswagen's Slovakia-site closure on Sunday March 15, have riled the secondary aluminium supp...Read More
Prices for imported steel billet in Egypt decreased in the week ended Thursday March 26 with market activity being very weak because of the Covid-19 pandemic, sources told Fastmarkets.The spread of Covid-19 in the country has caused market activity to soften significantly, the sources added.Egyptian natural gas prices were decreased by $1 to $4.50 per MMBtu this week, after electricity prices were...Read More
The 2019-nCoV coronavirus pandemic has led to parts of the Indian automotive sector closing down its operations, Fastmarkets heard this week.Some sector participants did so even before the country's government announced on Tuesday that it was imposing a 21-day lockdown from that day.Germany-based carmaker BMW has confirmed that its plant in Chennai will be closed from March 23 to March 31.Japan's...Read More
The Turkish markets for steel billet have crashed over the past week, following the sharp decline in imported scrap prices amid the spread of the Covid-19 pandemic, sources said on Thursday March 26.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey, was $357-360 per tonne on Thursday, down from the $390-400 per tonne of last week.After the imported scrap prices cra...Read More
Domestic rebar and wire rod prices in Turkey have gone down over the past week due to a complete absence of demand resulting from the Covid-19 pandemic, sources said on Thursday March 26.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 2,950-3,030 Turkish lira ($458-471) per tonne on Thursday, down from the 3,100-3,150 lira per tonne of last week.Wi...Read More
Long steel export prices in Turkey have gone down sharply over the past week amid the Covid-19 pandemic, which has affected almost all markets, sources said on Thursday March 26.Steel producers in Turkey have reduced their offers on rebar to $390-395 per tonne fob on an actual weight basis, from last week's $425-430 per tonne, but only one bid was heard at $375 per tonne.Fastmarkets' weekly price...Read More
China's domestic hot-rolled coil prices fell on Thursday March 26 amid weak demand, while export trading was also thin with sellers exercising caution after many overseas buyers canceled their orders.DomesticEastern China (Shanghai): 3,350-3,370 yuan ($472-475) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, narrowed downward by 20 yuan per tonneTrading activity w...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.Wood Mackenzie senior...Read More