Low prices for Japanese ferrous scrap sparked interest among buyers in Vietnam and Taiwan this week, sources told Fastmarkets on Friday February 14.VietnamFastmarkets' weekly price assessment for deep-sea bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam was $260-265 per tonne cfr on Friday February 14, down by $4-7 per tonne from $267-269 per tonne cfr a week earlier.Prices decreased over...Read More
Demand for aluminium and steel coil in China has come under strain while the novel coronavirus (2019-nCoV) crisis has allowed the gears of the country's automotive sector to grind to a halt.Many manufacturing plants across China - including those in the automotive segment - have paused operations in the past two weeks to February 12 after the government extended workers' Lunar New Year holiday to...Read More
The three-month price for lead on the London Metal Exchange was higher at the close of trading on Thursday February 13, nearing the $1,900 per tonne resistance level on a 1.7% uptick, while a positive close for LME copper saw it also approach nearby resistance.Lead's underlying price on the LME closed at $1,892 per tonne, climbing from an intraday low of $1,844.50 per tonne, while turnover was mod...Read More
The alumina index, fob Australia remained just above $280 per tonne so far this week amid quiet trading conditions. Fastmarkets calculated the daily benchmark at $281.69 per tonne on Thursday February 13, little changed from $281.61 per tonne the previous day. The index has hovered around $281 per tonne since February 7 and remains close to its highest level since November 7, when it was at $...Read More
The novel coronavirus (2019-nCoV) has not affected China Hongqiao Group's aluminium production, which is operating at its full running capacity of 5.86 million tonnes in Shandong province, the company confirmed to Fastmarkets."Our aluminium production was not impacted by the novel coronavirus. Now we are running at almost 5.86 million tonnes of aluminium and this is our full operating capacity in...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More
The alumina index, fob Australia remained just above $280 per tonne so far this week amid quiet trading conditions. Fastmarkets calculated the daily benchmark at $281.69 per tonne on Thursday February 13, little changed from $281.61 per tonne the previous day. The index has hovered around $281 per tonne since February 7 and remains close to its highest level since November 7, when it was at $...Read More
The novel coronavirus (2019-nCoV) has not affected China Hongqiao Group's aluminium production, which is operating at its full running capacity of 5.86 million tonnes in Shandong province, the company confirmed to Fastmarkets."Our aluminium production was not impacted by the novel coronavirus. Now we are running at almost 5.86 million tonnes of aluminium and this is our full operating capacity in...Read More
A summary of South32's earnings, alumina and aluminium production results for the first half of its 2020 financial year ended December 31, 2019. In brief: South32's underlying adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) declined by 48% to $678 million.Profits before tax have slumped 72% to $251 million from $908 million in first half of last year.Company reven...Read More
Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak. Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,00...Read More
Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
Turkish deep-sea scrap import prices have continued to increase with the news of a fresh cargo being sold on Thursday February 13.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $273.50 per tonne and 5,000 tonnes of bonus at $283 per tonne cfr.This compared with a US cargo sold on early Wednesday at $268 per tonne and a Baltic Sea cargo so...Read More
A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.The sudden jump in the number of new cases reported was due to a change in how the infection is being reported, rather than a sudden jump in people actually being infected. The latest da...Read More
Chinese producer Ganfeng plans to increase its battery-grade lithium hydroxide prices by no more than 10% due to higher transportation fees and production costs resulting from the novel coronavirus (2019-nCoV) in China, it said on Thursday February 13.During the Lunar New Year holiday, Ganfeng halted production at most of its wholly-owned subsidiaries until February 3. Several of its subsidiaries...Read More
Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak. Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,00...Read More
Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
EU domestic prices for hot-rolled coil have increased day on day despite lower import offer prices on similar material, sources told Fastmarkets on Thursday February 13.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?479.31 ($522.45) per tonne on Thursday February 13, up by ?,?3.10 per tonne day on day from ?,?476.21 per tonne on February 12.The index was...Read More
China's domestic hot-rolled coil remained under pressure on Thursday February 13 amid low economic activity downstream, though major mills maintained their export offers at relatively high levels.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($502-504) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne, unchangedSellers in Shanghai were asking for 3,500-3,510 yua...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 13 that are worth another look.The China Iron & Steel Association (Cisa) is seeking the Chinese transport ministry's help to solve logistical problems experienced by steelmakers in recent weeks, especially those affecting the delivery of raw materials, market sources told Fastmarkets.The novel coronavirus (2019-nCoV) h...Read More
Domestic prices for rebar and wire rod in Turkey have increased over the past seven days on a weakening lira and rising costs for imported scrap, sources said on Thursday February 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,000-3,040 lira ($497-504) per tonne on Thursday, up from the 2,940-2,950 lira per tonne of last week, including 18% V...Read More