The three-month lead price on the London Metal Exchange was the underperformer at the close of trading on Wednesday May 13, slipping below nearby support levels against broad risk-off sentiment, while zinc futures similarly struggled over the afternoon.Lead's underlying price on the LME closed at $1,599.50 per tonne on Wednesday afternoon, falling from an intraday high of $1,632 per tonne, while t...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 13 that are worth another look.China's Sichuan province is to implement an inspection regime to ensure steelmakers comply with the nationwide policy requiring the increased use of alloys to improve the quality of any rebar produced in the region.Glencore, Anglo American and Vale have been excluded from Norway's oil fund while...Read More
The three-month lead price on the London Metal Exchange was the underperformer at the close of trading on Wednesday May 13, slipping below nearby support levels against broad risk-off sentiment, while zinc futures similarly struggled over the afternoon.Lead's underlying price on the LME closed at $1,599.50 per tonne on Wednesday afternoon, falling from an intraday high of $1,632 per tonne, while t...Read More
Zinc premiums in Shanghai and Northern Europe were on an uptrend in the week to Tuesday May 12, driven by an open arbitrage window and increased liquidity in both markets, while the market in the United States remained subdued amid a continued slump in the country's automotive sector.SHFE import arbitrage window opensEasing of lockdown measures boosts European liquidityUS buyers reluctant to commi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 13.Please click...Read More
Domestic prices for cold-rolled coil in Europe have fallen further over the week despite limited trading activity, sources told Fastmarkets on Wednesday May 13.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?500-520 ($542-563) per tonne on May 13, compared with ?,?500-525 per tonne a week earlier. The assessment, however, was down by ?,?30-40 per tonne sin...Read More
Glencore, Anglo American and Vale have been excluded from Norway's oil fund while BHP has been placed on an observation list as the $1.1 trillion fund tightens up its environmental, social and governance (ESG) requirements. Glencore and Anglo American have been removed due to the fund's product-based coal criteria, which were made stricter last year, while Vale has been barred due to environmental...Read More
Car manufacturer Ford has announced that it intends to restart initial production at two plants in the UK and one in Valencia, Spain, from May 18, which will complete the restart of all its European units, it said on Wednesday May 13.The UK production sites at Dagenham and Bridgend will restart from May 18, as will the Valencia Engine Plant. These will be the last of the Ford sites to restart, wit...Read More
Key data from the Wednesday May 13 pricing session in Singapore.Key drivers Japanese buyers are relying heavily on China exports with the United States, Europe and other suppliers short of tonnages on offer. Chinese suppliers want to hold onto their cargoes due to an increase in domestic demand, with...Read More
Zinc premiums in Shanghai and Northern Europe were on an uptrend in the week to Tuesday May 12, driven by an open arbitrage window and increased liquidity in both markets, while the market in the United States remained subdued amid a continued slump in the country's automotive sector.SHFE import arbitrage window opensEasing of lockdown measures boosts European liquidityUS buyers reluctant to commi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 13.Please click...Read More
Kymera International, a global manufacturer of specialty metal powders, has furloughed an unspecified number of employees for an indeterminate time at various plants worldwide because of the Covid-19 pandemic, the North Carolina, United States-headquartered firm said."The actions have been undertaken at the company's Acupowder plant in Union [in the US state of New Jersey], as well as certain othe...Read More
Brazilian flat and long steel producer Companhia Sider??rgica Nacional (CSN) has started procedures to halt the No2 blast furnace at its Usina Presidente Vargas (UPV) unit amid low demand caused by the spread of the Covid-19 pandemic, Fastmarkets has learned.The local metalworkers' union, Sindmetal-SF, said that the company has begun to shut down the furnace and was planning to eliminate 2,000 job...Read More
Domestic prices for hot-rolled coil in Europe dropped again over the past seven days due to poor demand, sources told Fastmarkets on Wednesday May 13.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?413.50 ($447.96) per tonne on Wednesday, down by ?,?0.50 per tonne from ?,?414.00 per tonne on Tuesday. The index was down by ?,?8 per tonne week on week and down b...Read More
The price for steel H-beams in Europe remained unchanged on Wednesday May 13, due to a lack of trading and despite continuing fluctuations in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?525-560 ($569-607) per tonne on Wednesday, unchanged week on week.Some market participants reported a small uptick in...Read More
Prices for hollow steel sections in Europe moved down this week because of poor demand, with eyes now turning to the upcoming renewals of the EU import quotas, sources told Fastmarkets on Wednesday May 13.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?580-590 ($628-639) per tonne, down from ?,?580-595 per tonne one week before.The EU i...Read More
Turkish steel producers continued to book deep-sea scrap cargoes for June shipment on Wednesday May 13, but prices started to show signs of a downturn due to the weak rebar market, sources told Fastmarkets. A steel mill in the Marmara region booked a US cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $252 per tonne and 18,000-20,000 tonnes of shredded at $257 per tonne cfr.But another s...Read More
Seaborne premium hard coking coal prices continued to gain on Wednesday May 13 due to active trading in China's market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.17 per tonne, up $0.11 per tonne Premium hard coking coal, cfr Jingtang: $123.13 per tonne, up $2.12 per tonneHard coking coal, fob DBCT: $87.56 per tonne, up $0.40 per tonneHard coking coal, cfr Jingtang: $...Read More
The seaborne iron ore market largely maintained current levels on Wednesday May 13, with good demand for steel and consumption of iron ore continuing to support prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $91.63 per tonne, down $0.04 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $94.36 per tonne, up $0.16 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $78.88 per t...Read More
Japanese export steel scrap prices have jumped in the week to Wednesday May 13 following an active week of trading, market sources told Fastmarkets.Prices in the Japan market were buoyed firstly by a rise in the Kanto tender sales early on Tuesday and then again by much higher deals closed into South Korea later in the day.South Korean electric arc furnace (EAF) mills are seeing greater long steel...Read More