The waiting time to take metal out of London Metal Exchange-approved warehouses across Asia rose at the end of January 2020, according to the latest LME queue report. Fresh queues have emerged at warehouses in South Korea, Malaysia and Singapore due to further cancellations - mainly for aluminium. South Korea In Gwangyang, South Korea, there is an 18-day wait to deliver copper, lead, aluminium and...Read More

Nickel producers in Indonesia continue to operate at full capacity amid China's ongoing Wuhan coronavirus pandemic, but concerns that logistical delays will exacerbate the already poor projections for material demand in 2020 loom large, participants say.Indonesia-based nickel producers including Chinese stainless steel giant Tsingshan and domestic producer PT Antam have confirmed to Fastmarkets th...Read More

The three-month nickel price on the London Metal Exchange was higher during morning trading on Monday February 10, testing support above $13,000 per tonne against moderate turnover, while zinc came under further pressure from continued deliveries. Nickel's outright price on the LME was recently trading at $12,990 per tonne this morning after briefly climbing to an intra-morning high of $13,080 per...Read More

LME Week Asia 2020 could be in doubt due to the coronavirus outbreak, with Hong Kong Exchanges & Clearing evaluating all their events taking place over the next few months. "HKEX is currently evaluating all its events over the next few months, given the backdrop of the coronavirus," a London Metal Exchange spokeswoman said. "Where postponements or cancellations are put in place, all relevant parti...Read More

Fastmarkets' copper concentrates treatment and refining charge (TC/RC) index rose to its highest level since October 2019 this week, with Chinese smelters staying on the sidelines amid a murky outlook on production plans and product sales following the coronavirus outbreak. A weekly brief on the Fastmarkets' copper concentrate index: Fastmarkets' copper concentrates TC/RC index ticks up with more...Read More

Fastmarkets outlines five key takeaways from SteelOrbis' 11th Annual Rebar and Wire Rod Conference that was held in Las Vegas, Nevada on February 3.Panelists included Ken Simonson, chief economist for the Associated General Contractors of America; Philip Bell, president of the Steel Manufacturers Association (SMA); and Vince Pappas, president of Stone Steel Corporation. Steel imports currently sub...Read More

Hot-rolled coil prices in the United States declined on Monday February 10, with distributors holding off on purchase orders in expectation of lower prices later. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.17 per hundredweight ($583.40 per short ton)on Monday February 10, down by 1.6% from $29.64 per cwt on Friday February 7 and down by 1.9% from $29.75...Read More

Steel plate prices in the United States retreated after ferrous scrap indicators were lower and buyers demonstrated a reluctance to stock up in the face of price hikes in the new year.Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US weakened to $31 per hundredweight ($620 per short ton) on Friday February 7 from $32 per cwt on January 31 - ...Read More

Falling scrap costs in Turkey as well as low demand in the major sales outlets negatively affected steel billet producers from the Commonwealth of Independent States (CIS) in the first week of February.Chinese customers' cancelling orders stoked negative sentiment in and added pressure to the Asian market.Up to 100,000 tonnesof steel billet initially orderedfor China is now being offered to Southe...Read More

Fastmarkets has amended the publication date of its Brazilian domestic steel price assessments, ex-works Brazil, reais per tonne, following market feedback.The publication of the Brazilian domestic flat steel and rebar price assessments has moved from the first Friday of each month to the second Friday of each month, allowing Fastmarkets to capture price changes more quickly and accurately.The nex...Read More

Some rebar producers in Egypt have decreased their prices in effect from Monday February 10 amid falling billet prices and a strong domestic currency, sources told Fastmarkets.The country's biggest producer Ezz Steel is now offering rebar at E ?9,900 ($626) per tonne ex-works including 14% VAT, down from E ?10,000 per tonne ex-works.El Marakby...Read More

Turkish steel producers have continued to book deep-sea scrap from the United States and Europe for end of February and early March shipments, sources told Fastmarkets on Monday February 10.A steel mill in the Iskenderun region booked a European cargo of 20,000-25,000 tonnes of HMS 1&2 (80:20) at $252 per tonne cfr.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of H...Read More

Turkish domestic auto bundle and ship scrap prices have continued to slide over the past week in line with the falling cost of imported scrap, sources said on Monday February 10.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,510-1,715 lira ($251-285) per tonne on February 10, down from 1,560-1,800 lira per tonne last week.The Turkish stee...Read More

Ferrous scrap prices continued to move lower across the global markets during the week ended Friday February 7, following poor trading as a result of the coronavirus outbreak in Asia.Turkish prices drop sharplyUnited States export prices drop on Turkey bookingsTaiwan import prices slip on demand dipVietnam prices move down as virus dampens sentimentIndian import prices slump as trading returnsTurk...Read More

Seaborne iron ore prices eased on Monday February 10 amid the de-escalation of Tropical Cyclone Damien which hit Western Australia at the end of last week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.88 per tonne, down $0.71 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.21 per tonne, down $0.71 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.07 per tonne, down $0.95 per...Read More

Seaborne coking coal prices were unchanged on Monday February 10, with the market having a quiet start after the weekend following last week's activity that saw over 650,000 tonnes of spot cargoes changing hands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $160.61 per tonne, unchangedHard coking coal, fob DBCT: $127.01 p...Read More

Spot prices in the Singapore rebar import market continued to weaken over the past week on lower raw materials prices in the ferrous scrap markets and bearish sentiment caused by the outbreak of the coronavirus.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-440...Read More

Demand for seaborne iron ore concentrate and pellets fell last week amid a stagnant steel market in China due to the outbreak of the novel coronavirus (2019-nCoV) in the country.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $99.07 per tonne last Friday February 7, down by $3.54 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65...Read More

China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonneA Shanghai-based trad...Read More

China's domestic rebar prices were mixed on Monday February 10, with those in the eastern region holding steady while the northern Chinese market tumbled on weak demand.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,460-3,480 yuan per tonne, down 80 yuan per tonneAfter an extended break implemented by local authorities to contain the spread of...Read More