The latest forecasts from Fastmarkets' team of analysts are ready to view.While downward pressure mounts on the steelmaking raw material markets, premiums for higher-grade iron ores have been sustained despite narrowing operating margins at Chinese steelmakers. Chinese mills are operating with shrinking margins since the end of last year but the premium for high-grade ores remains high. Historical...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This week Fastmarkets' analysts and price reporters shared their views and recent findings in a webinar revealing some distinct fundamental tensions for steel, refining alloys and, of course, steelmaking raw materials such as iron ore.While the outlook for chrome and manganese ores and alloys is balanced, as far as market pa...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.A 6% decline in the daily average 62% Fe iron ore fines benchmark last week contributed to the lowest quarterly price rise for the first quarter in five years, in spite of clear evidence of supply-side constraints. Although there were clear demand-related obstacles to iron ore suppliers raking in more typical, seasonal price...Read More
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
Turkish steel mills extended their absence from the deep-sea scrap markets due to a public holiday in the country on Thursday April 23, keeping any possible trading opportunities on hold.Thursday marked the National Sovereignty and Children's Day public holiday in Turkey, with most people in the country away from work. In addition to this, the country has imposed a lockdown from April 23 to April...Read More
Total zinc inventory in London Metal Exchange warehouses has risen by 37% since the start of April to 100,075 tonnes as of April 23. Market sources attribute the rise in stocks to producers shipping their stock into warehouses to wait out the storm that is Covid-19. Demand for the galvanizing metal, like many other commodities, has fallen due to Covid-19 related lockdowns, leaving traders and prod...Read More
South Africa is to end its nationwide lockdown and ease restrictions put in place due to the Covid-19 pandemic from May 1, but will keep the country's borders closed.In an address to the nation, President Cyril Ramaphosa said the mineral-rich country will move from a level five alert, which began at midnight on March 26, to level four next week. "Beyond Thursday April 30, we will begin the gr...Read More
Anglo American has put its Quellaveco copper project in Peru on standby for up to three months while the government continues to restrict people movements to curb the spread of the Covid-19 virus.Most of Anglo American's on-site staff at the project in southern Peru have been under lockdown since March 17, when the Peruvian government declared a national emergency, the UK-based miner said on...Read More
China has issued its sixth round of scrap metal import quotas, approving minimal volumes compared with previous rounds. China Solid Waste & Chemicals Management Bureau issued quotas for an additional 2,150 tonnes of copper scrap and 1,030 tonnes of aluminium scrap metal to be imported into China in 2020 on Thursday April 23....Read More
A summary of the first quarter production results for 2020 from British multinational mining company Anglo American, as stated in its latest production report released on Thursday April 23. In brief Anglo American recorded a 16% increase in production at the Collahuasi mine in Chile, offsetting the expected impact of water shortages at the Los Bronces mine, which sits 65 kilometers from the...Read More
Metal traders are banking profits after locking an arbitrage to import copper into China, which has opened following a switch in London and Shanghai futures curves. China's Shanghai Futures Exchange copper contract is backwardated, meaning the market is pricing short-term copper above that of the future. Meanwhile the London Metal Exchange forward curve is in a steep contango; cash contracts are t...Read More
US hot-rolled coil prices have fallen to their lowest in six months, with big buyers returning to the market to take advantage of deep discounts, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US fell to $23.38 per hundredweight ($476.60 per ton) on Thursday April 23, down 2.1% from $23.89 per cwt on Wednesday April 22 and 6.3% from $24.94 per cwt a week earlier....Read More
Flat-rolled steel sales from Brazilian distributors are forecast to decrease by 45% to 145,900 tonnes in April from 265,300 tonnes the previous month due to the impact of the Covid-19 pandemic, national flat steel distributors association Inda said on Thursday April 23.If confirmed, the level will also represent a drop of 45.2% from 266,000 tonnes in April 2019.Steel distributors have be...Read More
Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More
China's domestic hot-rolled coil prices were largely stable on Thursday April 23 despite falling futures. Some exporters have become more optimistic about overseas prospects amid reports of an easing of a lockdown in Vietnam to contain the Covid-19 virus.DomesticEastern China (Shanghai): 3,300-3,320 yuan ($466-469) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,240 yu...Read More
China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
The range of offers for rebar and wire rod exports from the Commonwealth of Independent States (CIS) region has widened so far in the second half of April.Rebar offers from the CIS have varied widely, but have stayed within the range of $380-410 per tonne fob Black Sea.Some mills are keeping their offers on the lower side to attract customers, while others - mainly from Russia,...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
A summary of Swedish state-owned iron-ore producer LKAB's financial results for the first quarter of 2020. In brief The company attributed increased profit for the quarter to both high production and deliveries, despite a challenging market conditions due to the Covid-19 pandemic.The impact of the Covid-19...Read More
Germany-based steel scrap recycling group ELG Haniel has appointed Volker Pawlitzki to the posts of chief executive officer and chief commercial officer of its stainless steel division for Europe, the Middle East and Asia (EMEA).ELG Haniel recycles and distributes raw materials, stainless steel scrap, special alloys and primary materials to the stainless steel industry.Pawlitzki announced...Read More