Seaborne iron ore prices were up on Wednesday March 18, with Brazilian-origin high-grade fines finding traction among buyers in China.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $91.71 per tonne, up $0.51 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $93.20 per tonne, up $0.81 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $80.43 per tonne, up 0.64 per ton...Read More
The Iranian export billet market was largely quiet in the week to Wednesday March 18 while trading activity slowed due to the effects of the coronavirus (2019-nCoV) pandemic and the approaching Iranian new year holiday - Nowruz - starting March 21.There were no fresh offers of billet from Iranian mills heard in the market this week, Fastmarkets was told.The country's largest billet producer Khouze...Read More
Steel billet prices in the majority of regions around the world weakened in the week to Friday March 13 amid a bearish outlook for the ferrous scrap market and reduced demand due to the rapid spread of the novel coronavirus (2019-nCoV) outside of China.Meanwhile, China was the only market to see an improvement in prices amid production cuts.ChinaNorthern China's steel hub of Tangshan will cut 1.6...Read More
China's domestic rebar prices moved up on Wednesday March 18 amid falling inventories at mills and on the spot markets, Fastmarkets heard.Eastern China (Shanghai): 3,530-3,560 yuan ($503-507) per tonne, up 20-30 yuan per tonne Northern China (Beijing): 3,390-3,430 yuan per tonne, up 10 yuan per tonneSteel stock has decreased in the past week or two, with more end-users returning to the market, sou...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 18.Key drivers Firm production at ferro-titanium plants supports alloy and titanium scrap prices against similar demand in end-user markets. Titanium scrap prices steady against strong alloy production. Market sources expect little change near term ahead of a...Read More
Prices for hollow steel sections in Europe were unchanged this week despite a slowdown in trading while the 2019-nCoV coronavirus spread across the region, sources told Fastmarkets on Wednesday March 18.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($664-697) per tonne on Wednesday, unchanged week on week."It's becoming more a...Read More
Sales of passenger cars in the EU dropped by 7.41% year on year in February 2020, the second consecutive monthly decline.New car sales in Europe totalled 957,052 vehicles in February 2020, down from 1,033,608 units sold in the corresponding month of 2019, the European Automotive Manufacturers Association (ACEA) said on Wednesday March 18."This...Read More
Automotive manufacturers in Europe have announced temporary production shutdowns at sites throughout the continent, because of the problems being created by the measures taken by governments to restrict the spread of the 2019-nCoV coronavirus outbreak.The latest suspensions followed a raft of announcements made at the beginning of this week.Rolls-RoyceUK-based Rolls-Royce Motor Cars will suspend p...Read More
More European steel producers have announced production cuts and equipment stoppages because of the measures being taken to combat the 2019-nCoV coronavirus pandemic, sources told Fastmarkets on Wednesday March 18.The outbreak continues to hamper steel output in Europe with more producers announcing either stoppages or production slowdowns this week, sources said.The largest European steel produce...Read More
Sales of passenger cars in the EU dropped by 7.41% year on year in February 2020, the second consecutive monthly decline.New car sales in Europe totalled 957,052 vehicles in February 2020, down from 1,033,608 units sold in the corresponding month of 2019, the European Automotive Manufacturers Association (ACEA) said on Wednesday March 18."This...Read More
China will raise the export rebate to 13% from 10% for a large number of steel products from March 20, according to a notice released by the Ministry of Finance late on Tuesday March 17. The rate increase concerns major steel products such as hot-rolled coil, wire rod, cold-rolled strip, hot-dipped galvanized strip and stainless steel strip.Mixed outlook on export offersSome market participants ex...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 18 that are worth another look.More European steel producers have announced production cuts and equipment stoppages because of the measures being taken to combat the 2019-nCoV coronavirus pandemic, sources told Fastmarkets on March 18.The novel coronavirus (2019-nCoV) pandemic is starting to hit mine supply o...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 18.Please click...Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
More European steel producers have announced production cuts and equipment stoppages because of the measures being taken to combat the 2019-nCoV coronavirus pandemic, sources told Fastmarkets on Wednesday March 18.The outbreak continues to hamper steel output in Europe with more producers announcing either stoppages or production slowdowns this week, sources said.The largest European steel produce...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 18 that are worth another look.More European steel producers have announced production cuts and equipment stoppages because of the measures being taken to combat the 2019-nCoV coronavirus pandemic, sources told Fastmarkets on March 18.The novel coronavirus (2019-nCoV) pandemic is starting to hit mine supply o...Read More
Chris Walton has joined Italian bank Unicredit to build out the company's metals financing book, Fastmarkets understands.Walton, who previously was director of base metals physical trading at ICBC Standard Bank, arrives...Read More
The novel coronavirus (2019-nCoV) pandemic is starting to hit mine supply of metals after months of affecting refined demand, sources told Fastmarkets.Across South America, the world's largest copper-producing continent, countries including both Peru and Chile have closed borders to contain the outbreak, Fastmarkets understands.While mine disruptions are yet to be reported in Chile, the world's to...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 18.Please click...Read More
The LME copper price was sharply lower at the close of trading on Wednesday March 18, dropping by more than 8% because of broad-based risk-aversion, but the LME lead price surprisingly made gains over the afternoon. The three-month copper contract on the London Metal Exchange at its lowest since October 2016 at $4,745 per tonne in high volume-trading - on electronic trading platform LMEselect, mor...Read More