East Asia and Southeast Asia continue to be among the top five importers of Chinese steel products in April due to the competitive prices of the latter and the former's economic recovery from the Covid-19 pandemic, Fastmarkets understands. China's major steel exportsFlat steel: 4.07 million tonnes, up by 5.1% year on year, down by 0.5% from March, according to China Customs data.Steel bar: 820,000...Read More
Member mills of the China Iron & Steel Association (Cisa) continued to increase their production rates for crude steel, finished steel and hot metal in mid-May, according to data released on Saturday May 23.May 11-20 outputCrude steel: 2.08 million tonnes per day, up by 1.40%Finished steel: 1.96 million tpd, up...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
Mexican ferrous scrap prices were on opposite paths in the week ended Friday May 22, with prices rising in some deals due to a scarcity of material while others fell due to currency moves.Prices for three grades of scrap increased in Monterrey, with at least one client heard quietly purchasing small volumes of specific grades at higher prices.A second client was also considering future price...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 26.Read More
The International Copper Study Group (ICSG) has cut its 2020 global mined copper forecast by 950,000 tonnes, equivalent to nearly 4 million tonnes of copper concentrates output, citing the impact of the Covid-19 pandemic.The copper research group now expects a 3% year-on-year decline in world mined copper output in 2020, citing lockdowns that have been in place since March, the group said on Thurs...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
LME three-month base metals prices, apart from zinc, closed up on Tuesday May 26, in part driven by the impact of China's ongoing monetary easing policy and the onset of economic restarts across Europe. A speech given today by People's Bank of China governor Yi Gang buoyed London Metal Exchange base metals prices at the beginning of the day's trading, according to INTL FC Stone's Natalie Scot...Read More
The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
Triland Metals has canceled its annual party, which was set to take place during LME Week in London on Monday October 19."We are living through unprecedented times and a great deal of uncertainty. The coronavirus pandemic has meant it is essential to limit social contact and avoid large gatherings," Triland chief executive office Martin Pratt said on May 26."It is also clear that global travel wil...Read More
Fastmarkets is proposing to amend the specification of its price assessment for ferro-tungsten basis 75% W, in-whs dup Rotterdam, $/kg W. According to preliminary market feedback, one-tonne big bags are the most commonly accepted packaging by consumers of ferro-tungsten in Europe and are regularly traded in the spot market. The proposed change will avoid potential price differential between d...Read More
LME three-month base metals prices, apart from zinc, closed up on Tuesday May 26, in part driven by the impact of China's ongoing monetary easing policy and the onset of economic restarts across Europe. A speech given today by People's Bank of China governor Yi Gang buoyed London Metal Exchange base metals prices at the beginning of the day's trading, according to INTL FC Stone's Natalie Scot...Read More
The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
After a consultation period, which ended on May 21, Fastmarkets is reducing the frequency of its lead premium price assessments for the Indian and Southeast Asian markets.The following four price assessments will now be published once every two weeks on Tuesday, instead of weekly. Changes will take effect from Tuesday May 26. MB-PB-0087 - Lead 99.97% ingot premium, cif India, $...Read More
Vale Canada has entered into a 60-day exclusivity period with Australian specialist zinc miner New Century Resources to negotiate the sale of a 95% stake in Vale New Caledonia (VNC), Fastmarkets understands.Subject to successful due diligence and negotiation, New Century will take majority ownership of VNC while Soci?(C)t?(C) de participation mini??re du Sud cal?(C)donien will retain the remaining...Read More
Triland Metals has canceled its annual party, which was set to take place during LME Week in London on Monday October 19."We are living through unprecedented times and a great deal of uncertainty. The coronavirus pandemic has meant it is essential to limit social contact and avoid large gatherings," Triland chief executive office Martin Pratt said on May 26."It is also clear that global travel wil...Read More
From future raw material investments to China's resurgence in lithium-iron-phosphate (LFP) battery chemistries, Fastmarkets analysts and reporters consider six key discussion points dominating the battery and electric vehicle markets. The below themes were raised from questions during Fastmarkets' webinar "Covid-19 and the battery raw materials supply chain" on May 19. To listen again to the webin...Read More
Domestic prices for hot-rolled coil in Northern Europe dropped further during the week to Friday May 22, due to low trading activity.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?407.50 ($443.92) per tonne on Friday, down by ?,?4.38 per tonne week on week and down by ?,?37.50 per tonne month on month.Friday's index was calculated based on deals and "workable...Read More
Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on Tuesday May 26, but output was unaffected, the company said.A group of company employees used trucks to block the entrance to the plant to protest Tata Steel's policy in the Netherlands."We can confirm a number of employees took unplanned action near the gates of our IJmuiden steelmaking site in the Netherla...Read More