The latest forecasts from Fastmarkets' team of analysts are ready to view.Having first hit Asia during early 2020, the Covid-19 viral outbreak is now having an even bigger impact on European countries and the US. Widespread lockdown measures have been put in place on people and industry, and economic activity has slowed markedly.For now, stainless steel markets in Europe and the US are yet to show...Read More
The new issue of the Seamless OCTG & Linepipe Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers analysis of seamless OCTG and linepipe across international markets:Covid-19 underscores pipe outlookUnsurprisingly, the concern in the seamless pipe markets across the regions is the effect of the spread of Covid-19 on public health and econo...Read More
Tin premiums in the United States and Europe were subject to pressure in the two weeks to Wednesday July 1, with a wide backwardation in the metal's forward curve on the London Metal Exchange limiting business while a narrowing arbitrage window to import tin into China supported current levels. Covid-19 resurgence hinders US marketRenewed spot interest fails to stop falling Rotterdam premiumStrong...Read More
Industry associations up and down the steel and metals supply chain applauded the United States-Mexico-Canada Agreement (USMCA) trade pact going into effect on Wednesday July 1.The update to the North American Free Trade Agreement - which previously governed trade between the three nations - should increase demand while also assuring that essential cross-border supply chains remain intact, the Ame...Read More
Zinc concentrate treatment charges rose from an 18-month low in June 2020, with market shorts facing less of a rush to cover positions on the spot market.Fastmarkets' price assessment for zinc spot concentrate TC, cif China, was $160-180 per tonne on Friday June 26, up from $155-170 per tonne at the end of May.Spot supply of concentrates remained limited to just a few mines, predominantly in Austr...Read More
The London Metal Exchange three-month copper price was slightly higher at the close on Wednesday July 1, with high turnover and strong demand from Asia keeping price action firmly above nearby support levels, while lead futures lagged behind over the day. LME copper's outright price closed at $6,061 per tonne on Wednesday, climbing from an intraday low of $5,995 per tonne, while daily turnover bre...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 24.Please click...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Capped by oversupplyA lack of a meaningful supply adjustment to the Covid-19 demand hit is keeping the aluminium physical market oversupplied and weighing on prices, limiting the success of more buoyant macro and technical forces on prices. Our premium forecasts are under review in light of threats from the U...Read More
European producers of hot-rolled coil have achieved a transaction price increase supported by the lack of import offers and a degree of demand improvement, sources told Fastmarkets on Wednesday July 1.The definitive decision in the EU's safeguard measures review on June 30 will also support domestic prices, market sources said. The European Commission has decided to replace yearly country-specific...Read More
Domestic prices for steel mesh-quality wire rod in Europe were largely unchanged in most regions over the past week, supported by improving demand, sources told Fastmarkets on Wednesday July 1.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, remained at ?,?420-440 ($472-494) per tonne on Wednesday, stable week on week.The assessment was b...Read More
Domestic steel rebar prices have ticked upward in the south of Europe, supported by improved buying activity, but were steady in the north, sources told Fastmarkets on Wednesday July 1.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?420-435 ($472-488) per tonne on July 1, compared with ?,?410-425 a week earlier.Italian producers i...Read More
The price of steel hollow sections in Europe moved up on Wednesday July 1, following feedstock price rises. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?550-560 ($617-628) per tonne on Wednesday, up from ?,?535-550 per tonne a week earlier. The price rise came after producers of hot-rolled coil, the feedstock material for sections, anno...Read More
Latin American apparent steel consumption is set to fall by around 17% in 2020 due to the impact of the Covid-19 pandemic on end-user demand, according to calculations made by the region's steel association, Alacero. The automotive industry in particular was significantly affected by restrictions imposed to fight the spread of Covid-19. Auto output fell by more than 90% year on year during Ap...Read More
A summary of the financial results for 2019 for the Czech Republic's largest steelmaker, Trineck?(C) ? 3/4 elez??rny (TRZ).In brief Trineck?(C) ? 3/4 elez??rny generated its lowest annual profit since 2008. Weakening demand from the automotive industry, a toxic combination of rising feedstock prices and deteriorating finished steel prices, a high level of steel imports from third countries, and gl...Read More
The price for steel H-beams in Southern Europe narrowed week on week on Wednesday July 1, despite producers looking to achieve price increases, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?510-550 ($573-618) per tonne on Wednesday, flat week on week.Feedstock prices have remained largely unchanged over the past...Read More
Turkey produced 2.30 million tonnes of crude steel in May 2020, a 25.90% decrease year-on-year, the Turkish Steel Producers' Association (TCUD) said on Wednesday July 1.The country produced 13.5 million tonnes of crude steel in January-May 2020, a 5.6% decline year-on-year, TCUD added.Steel end-product consumption was 1.8 million tonnes in May alone, a 14.10% decrease year-on-year. But in January-...Read More
Brazilian iron ore pellet producer Samarco is on schedule to resume operations by the end of 2020 despite health and safety measures taken to prevent Covid-19 from spreading among workers, the company told Fastmarkets on Wednesday July 1.Samarco was expected to restart production in December 2020, Vale's chief financial officer Luciano Siani said on April 29. Hot commissioning was scheduled t...Read More
Recyclers operating at East Coast docks in the United States have lowered their buying prices amid expectations of weaker-priced ferrous scrap export cargo sales to Turkey, with a new sale concluded at a $5-per-tonne discount.Turkey returned to the US market on Wednesday July 1, purchasing a 40,000-tonne cargo that included 16,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap (HMS...Read More
Turkish steel producers have resumed their deep-sea scrap purchases for August shipments after achieving lower prices, sources said on Wednesday July 1.A steel mill in the Iskenderun region booked a US cargo, comprising 16,000 tonnes of HMS 1&2 (80:20) at $256 per tonne, 6,000 tonnes of shredded at $261 per tonne and 8,000 tonnes of plate and structural scrap (P&S) at $266 per tonne cfr. The cargo...Read More
The seaborne premium hard coking coal fob Australia index edged higher on Wednesday July 1 after a transaction was sealed at around $110 per tonne.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.57 per tonne, up $0.11 per tonne Premium hard coking coal, cfr Jingtang: $122.79 per tonne, down $0.01 per tonneHard coking coal, fob DBCT: $91.83 per tonne, up $0.27 per tonneHard coking...Read More