Click here to download Base Metals Weekly DataDISCLAIMER - IMPORTANT PLEASE READ CAREFULLY This Disclaimer is in addition to our Terms and Conditions as available on our website and shall not supersede or otherwise affect these Terms and Conditions. Prices and other information contained in this publication have been obtained by us from various sources believed to be reliable. This info...Read More
Broader markets were generally weaker this morning, Tuesday May 12, amid concerns about clusters of new Covid-19 infections in the Chinese city of Wuhan and in South Korea, while China’s consumer price index (CPI) and producer price index (PPI) data releases were weaker than expected. Asian-Pacific and pre-market major western equity indices were mainly weaker this morning. Base metals Three-...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Index futures responded to news that the Federal Reserve is starting a program to purchase corporate bond Exchange Traded Funds. Index futures were virtually unchanged following release of the April Consumer Price Index at 8:30 AM EDT. Consensus was a decline of 0.8% versus a drop of 0.4%...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
China produced 6.08 million tonnes of crude stainless steel in the first quarter of 2020, down by 9.04% from a year earlier, according to data released by the China Stainless Steel Council (CSSC) on Thursday May 7.Apparent consumption totaled 4.90 million tonnes in the first three months of this year, down by 806,100 tonnes or 14.12% from the same...Read More
Member mills of the China Iron & Steel Association (Cisa) raised their production rates in late April on steady demand and healthy profits, according to data released on Friday May 8.April 21-30 outputCrude steel: 2.01 million tonnes per day, up by 3.1%Finished steel: 2.04 million tpd, up...Read More
The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.European steel association Eurofer has lodged a complaint with the EC, alleging that HRC has been exported from Turkey at dumped prices."In April 2020, a new [anti-dumping] investigation was opened into HRC from Turkey," ArcelorMit...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
Here are five Fastmarkets stories you might have missed on Friday May 8 that are worth another look.The United States' anti-dumping duties on imports of oil country tubular goods (OCTG) from Ukraine will remain in place, the Commerce Department said in the final result of its first five-year sunset review of the product.Rio Tinto is partnering on a project to develop a zero-emission bus made of al...Read More
If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More
The sharp decline in emerging market currencies combined with a collapse in oil prices are providing a twin saving grace for many metals and mining companies during the Covid-19 pandemic. For producers of energy-intensive metals like aluminium, and in particular the low-cost ones, the benefit is even greater. It's an emerging trend that is starting to be reflected in the earnings of corporates in...Read More
The Covid-19 pandemic may well provide Freeport-McMoRan with a silver lining it had never expected. The US copper producer is discussing with the government of Indonesia what should be done with the planned smelter in the Gresik region in the province of East Java. It has been forced to delay the completion timeline of December 2023 for the plant, due both to Covid-19-related disruptions to the wo...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: 'Sell the rally' mentality here to stayAlthough the London Metal Exchange aluminium price has managed to recover modestly from recent lows, we suspect this is mostly short-covering. The lack of producer restraint, growing exchange inventories, a weak demand outlook and the 7 million tonnes of oversupply forecast f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: 4-million-tonne surplus for 2020We have made further downward revisions to our aluminium demand expectations for 2020 and, although there have been smelter capacity reduction in China too, the net effect is that our forecast for the global surplus this year has swelled to 4 million tonnes, from 2.7 million tonnes...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Average LME aluminium price down by 2.5% week on weekAlthough LME aluminium began this week on the rebound, prices extended their recent downtrend further last week, approaching the $1,400-per-tonne level. The weekly average LME aluminium cash price was down 2.5% last week to $1,432.50 per tonne from previous week's $1,469.6...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: OversoldAluminium has been the hardest hit base metal over the past week, after relentless selling pressure took it to fresh multiyear lows while its LME peers generally consolidate or try to rebound. Aluminium is seeing far less in the way of supply restraint or disruptions than the other metals. But this market...Read More