Key data from the pricing sessions in Europe, the United States and Asia for the week ended Friday April 17.United States Silicon prices hold week on week in the US, with a standoff reportedly in effect between sellers and buyers. Producers are not lowering their quotes because they do not trust any business to materialize. Ongoing automaker shutdowns during...Read More
The Chinese magnesium market was supported by output cuts and the suspension of operations at small plants in the week ended Friday April 17, but muted demand has limited supply-driven price increases in the international market.Fastmarkets assessed the price of magnesium 99%, exw China, at 13,000-13,100 yuan ($1,836-1,850) per tonne on Friday, up from 12,900-13,100 yuan per tonne a week earlier.T...Read More
A summary of Brazilian miner Vale's base metals production results for the first quarter of 2020, as stated in its production report on Friday April 17.In brief Nickel output declined during the first three months of the year after operations at Canadian unit Voisey's Bay were halted due to the Covid-19 pandemic, and amid other planned outages during the three-month period. Nickel production incre...Read More
Chinese domestic portside manganese ore prices of both high and low grades registered significant increases in the latest assessments on Friday April 17, after the country's ore traders raised offer prices notably in response to a 14-day extension of the lockdown in South Africa. On April 9, South African President Cyril Ramaphosa announced he would extend the nationwide lockdown in place sin...Read More
Singapore's rebar market has come to a complete standstill due to a suspension of all construction activity in the island nation apart from that for key infrastructure projects as a measure to contain the spread of the Covid-19 virus.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore, which mainly looks at cargoes sold into Singapore on a theoretical-weigh...Read More
Steel billet prices in most major regions around the world climbed in the week to Friday April 17, tracking gains seen in the bellwether Turkish ferrous scrap import market. Scrap prices in the world's largest importer of the steelmaking raw material have increased by close to $50 per tonne since plunging to April 2's three-and-a-half-year low of $208.10 per tonne. CIS, Turkey, EgyptTrading activi...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were weaker this morning, Tuesday April 21, and Asian-Pacific and pre-market major western equity indices were weaker too. On Monday we had thought poor corporate earnings data had the potential to rattle markets, but it seems that negative oil futures prices were the catalyst that caused traders concern. The soon-to-exp...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 44 points in pre-opening trade.Travellers dropped $1.83 to $99.95 after the company reported lower than consensus first quarter revenues and earnings.Disney fell $1.36 to $100.90 after Citigroup lowered its target price from $161 to $135.IBM dropped $3.56 to $116.85 after reporting lower than consensus first quarter r...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
Here are five Fastmarkets stories you might have missed on Friday April 17 that are worth another look.Prices paid for Brazil-origin steel slab in export deals have narrowed in the week ended April 17, with recovering demand in Asia and Europe resulting in increased numbers of deals, sources said.The Covid-19 pandemic is a unifier in that it impacts all. But sub-Saharan Africa is facing an unprece...Read More
The base metals on the London Metal Exchange and on the Shanghai Futures Exchange were mainly firmer this morning, Monday April 20, but broader markets were mixed with equities braced for the release of corporate earnings. With some countries and regions looking to lift restrictions, while others are extending restrictions and with uncertainty about whether reopening will lead to second waves of t...Read More
U.S equity indices lower in pre-opening trade. S&P 500 futures were down 56 points in pre-opening trade. May Crude Oil futures plunged $6.58 to a 21 year low at $11.59 per barrel. Energy equity prices are leading U.S. equity index futures to the downside. Dupont added $1.64 to $39.95 after noted that first quarter earnings will exceed consensus estimates. Boeing dropped $6.01 to $147.99 after...Read More
Prices for flat steel in Turkey were mixed in the week to Friday April 17, with some prices moving higher and others lower, while demand improved slightly from last week, market participants said.Demand strengthened because stocks among buyers were low, Turkish sources said.Scrap prices continued to increase during the week on reduced availability. Fastmarkets' daily index for steel scrap, HMS 1&2...Read More
China's crude steel output edged up in the first quarter while finished steel production fell slightly, according to data released by National Bureau of Statistics (NBS) on Friday April 17.January-March output Crude steel: 234.45 million tonnes, up by 1.2% from a year earlier Hot metal: 199.74 million tonnes, up by 2.4% year on yearFinished steel: 267.42 million tonnes, down by 1.6%...Read More
Member mills of the China Iron & Steel Association (Cisa) raised their steel and hot-metal output rates in early April from the preceding 11 days, while the pace of decline for their finished steel inventories slowed down, according to data released on Friday April 17April 1-10 outputCrude steel: 1.95 million tonnes per day, up by 6.5%Finished steel: 1.82 million tpd, down by...Read More