Insignia Consultants New DelhiWednesday, April 15, 2020TIME 7:27 AM IST -------------------------------------------------------------------------------------------------------------------...Read More
Sentiment in Chinese domestic portside manganese ore prices for both low and high grades has strengthened following news that the lockdown in South Africa will be extended by another 14 days. Late on Thursday April 9, South African President Cyril Ramaphosa announced he will extend the nationwide lockdown in place since March 26 to the end of April as part of efforts to slow the spread o...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 15 that are worth another look.No market has been left untouched by the escalating coronavirus pandemic, but iron ore prices have proved relatively buoyant for the past two months compared with the price plunges we have seen in other commodities.Industry association European Aluminium has launched a strategic plan to maximi...Read More
The Turkish deep-sea scrap import market has gone quiet again after the recent upturn, with material supply being limited, while buyers were struggling with weak demand for finished steel, sources said on Wednesday April 15.The daily scrap indices went up by more than $15 per tonne on Tuesday, after deals for United States- and Baltic Sea-origin cargoes were heard at $255-257 per tonne cfr for HMS...Read More
Export prices for bulk cargoes of Japanese scrap have increased by ?1000 ($9) per tonne over the past week after higher transactions were closed in Southeast Asian markets, trading sources told Fastmarkets.After six straight weeks of price decreases, Japanese export scrap prices rebounded on Wednesday April 15 amid continued demand from mills in Taiwan and Vietnam, and tighter ferrous scrap suppl...Read More
Metals and wider markets are mixed this morning, Wednesday April 15, while traders brace for more economic and corporate data that will start to show the economic hit that the global economy has suffered. Banks in the United States started to report dismal earnings and the International Monetary Fund (IMF) warned that the global economy faces the biggest slowdown since the Great Depression of the...Read More
Did you want a cut?Well, you got a cut.On the surface, the latest decision by OPEC+ to cut a whopping 9.7 million barrels per day from its May and June output should have sent crude prices ripping higher over the last few days.The market wasn't fooled as crude prices traded lower this morning.If you're wondering why it's because the numbers simply don't add up.They're downright confusing.Fortunate...Read More
The output and sales of new energy vehicles (NEVs) in China tumbled by over 50% year on year in the first quarter of 2020 due to the effects of the Covid-19 virus on operations and end demand.Chinese manufacturers produced 105,000 NEVs, including pure electric vehicles (PEVs) and plug-in hybrids, in the first quarter of 2020, down by 60.2% from the corresponding months of 2019, while total sales w...Read More
Domestic prices for heavy steel plate in Europe have been stable in a slow market, sources told Fastmarkets on Wednesday April 15.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was unchanged over the week at ?,?500-510 ($548-559) per tonne on Wednesday. The assessment was based on a few transactions and offers heard in the market.The corresponding weekl...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved down day on day due to slow market activity, sources told Fastmarkets on Wednesday April 15.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?463.33 ($507.56) per tonne on April 15, down by ?,?1.67 per tonne from ?,?465.00 per tonne on April 14.Wednesday's index was calculated based on deals, offe...Read More
China's domestic hot-rolled coil prices fell on Wednesday April 15 with sentiment dampened by losses in the futures market, while exporters awaited opportunities to sell to overseas buyers after suppliers in other regions raised their offers.DomesticEastern China (Shanghai): 3,320-3,330 yuan ($471-472) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,220 yuan per tonne, narrowing d...Read More
Prices for steel rebar in Europe remained broadly stable over the past week, while trading in most markets remained slow, sources told Fastmarkets on Wednesday April 15.Last week, Italy extended its lockdown until May 3, leaving steel off the list of the "essential" industries allowed to continue operations.Nonetheless, some Italian steelmakers were still operating, having restarted...Read More
The price of mesh-quality steel wire rod in Europe was unchanged this week amid a quiet market, with buying being limited by the effects of the Covid-19 pandemic, sources told Fastmarkets on Wednesday April 15.This week in Northern Europe, trading was reported to be slow, with demand from end-users diminished by the quarantine measures that have been imposed.Fastmarkets' weekly price assessment fo...Read More
Prices for hollow steel sections in Europe were unchanged this week because trading activity failed to revive after the Easter weekend break, sources told Fastmarkets on Wednesday April 15.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-610 ($646-668) per tonne on Wednesday, unchanged week on week.Last week, it was reported that mil...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 15 that are worth another look.No market has been left untouched by the escalating coronavirus pandemic, but iron ore prices have proved relatively buoyant for the past two months compared with the price plunges we have seen in other commodities.Industry association European Aluminium has launched a strategic plan to maximi...Read More
The stock market has been acting as though truckloads of oral vaccine will show up on supermarket shelves by the weekend. Of course, we know better than to attribute the robust uptrend of the last two weeks to careful or even rational calculation. The market after all is not a thinking creature, just a dumb beast that has been annoyed by a swarm of flies, or excited by pheromones washing over th...Read More
By Avi GilburtOriginally published on SeekingAlpha on Sunday April 12: So, if you are like most market participants, there are many fallacies which you have likely accepted of late.First, you are likely viewing this "bear market" as having begun 6 weeks ago. Yet, if you actually understood the broader market in a bit more depth and better context, you would actually be viewing this "bear market...Read More
Insignia Consultants New DelhiWednesday, April 15, 2020TIME 7:27 AM IST -------------------------------------------------------------------------------------------------------------------...Read More
The Turkish deep-sea scrap import market has gone quiet again after the recent upturn, with material supply being limited, while buyers were struggling with weak demand for finished steel, sources said on Wednesday April 15.The daily scrap indices went up by more than $15 per tonne on Tuesday, after deals for United States- and Baltic Sea-origin cargoes were heard at $255-257 per tonne cfr for HMS...Read More