Turkish deep-sea scrap import prices increased again on Tuesday April 14 because of the limited supplies coming from Europe and the United States, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 12,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.Another steel mi...Read More
Turkish domestic ferrous-scrap prices have continued to increase during the week to Monday April 13, in line with rising imported steel-scrap values, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,515-1,700 lira ($224-252) per tonne on Tuesday April 14, up from 1,380-1,515 lira per tonne last week.Steel producers a...Read More
India will extend the lockdown intended to control the spread of the Covid-19 pandemic until May 3, instead of the original end-date of April 15, Prime Minister Narendra Modi announced on Tuesday April 14.In his address, Modi added that each district would be evaluated in a week's time to see if restrictions could be eased."Until April 20, every town, every police station, every district, every st...Read More
Seaborne iron ore prices inched upward on Tuesday April 14, during an active day of trading at Chinese ports amid persistent worries about supply and an improving steel demand outlook.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.02 per tonne, up by $1.42 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.74 per tonne, up by $1.48 per tonne.58% Fe fines high-grade premium, cfr Qingd...Read More
Ferrous scrap prices rebounded in Turkey in the working week ended Thursday April 9 amid tight supply in the United States and Europe, but Asian buyers mostly refused to pay the higher prices. Turkey import scrap prices rocket. Tight supply raises US export prices but low local demand reduces domestic rates. Vietnam looks to Japanese market after US offer prices rise. Taiwan raise...Read More
Seaborne premium hard coking coal prices dropped on Tuesday April 14, with trading activity restricted to the Chinese market while key spot buyer - India - announced an extension to its nationwide lockdown to curb the spread of the Covid-19 virus.Fastmarkets indicesPremium hard coking coal, fob DBCT: $130.59 per tonne, down $2.70 per tonnePremium hard coking coal, cfr Jingtang: $138.63 per tonne,...Read More
Fastmarkets MB proposes to discontinue the publication of its ferrous trade logs. The publication of the following five trade logs will cease from April 24: Flat Steel Products Trade Log Long Steel Products Trade Log Semi-finished Steel Products Trade Log Steelmaking Raw Materials Trade Log Ferrous Scrap Trade Log There is no change to the publication of prices related to...Read More
China's domestic rebar prices edged up further on Tuesday April 14 amid what was described by market participants as "good and steady" demand. Eastern China (Shanghai): 3,470-3,500 yuan ($492-496) per tonne, up by 10 yuan per tonneNorthern China (Beijing): 3,410-3,440 yuan per tonne, up by 10 yuan per tonne Buyers actively procured cargoes during the day, which gave prices a slight upward pus...Read More
The uncertainties surrounding cobalt supply and demand in the near term amid the continuing Covid-19 pandemic has led more Chinese salts smelters to take on tolling business to mitigate risk.The virus has had an unprecedented effect on the global economy with manufacturing sectors around the world forced to slow in attempts to halt its spread, a dynamic which eventually dented buying interest for...Read More
Stainless steel prices in the United States fell in April while surcharges declined and market participants reported sharply lower demand. Fastmarkets' monthly assessment for stainless steel 304 cold-rolled sheet, fob mill US fell by 2.5% to $117 per hundredweight on Monday April 13 from $120 per cwt previously, while that for 304L cold-rolled sheet fell by 2.5% to $119 per cwt from...Read More
Metals and wider markets are mixed this morning, Wednesday April 15, while traders brace for more economic and corporate data that will start to show the economic hit that the global economy has suffered. Banks in the United States started to report dismal earnings and the International Monetary Fund (IMF) warned that the global economy faces the biggest slowdown since the Great Depression of the...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 71 points in pre-opening trade.Equity index futures moved slightly lower following release of economic news at 8:30 AM EDT. Consensus for March Retail Sales was a drop of 8.0% versus a decline of 0.5% in February. Actual was a drop of 8.5%. Excluding auto sales consensus for March Retail Sales was a drop of 5.0% versu...Read More
Here are five Fastmarkets stories you might have missed on Monday April 13 that are worth another look.Argentinian crude steel production fell by 26.7% year on year in March due to the closure of most plants during a mandatory quarantine enforced by the federal government to contain the spread of the Covid-19 virus, national steel chamber Acero Argentino said.A total of 222,020 tonnes of copper sc...Read More
All but one of Fastmarkets' aluminium scrap price assessments fell on Thursday April 9 while the Covid-19 pandemic-driven market slowdown continued to affect the US scrap business."[This] certainly is an unusual time. I've never seen anything like this in my lifetime," one US scrap consumer source said. "Hopefully the May 4 start-up for many automakers will happen."Fastmarkets assessed the mixed l...Read More
Operations at the Antamina zinc and copper mine in Peru have been suspended as part of its response to the Covid-19 pandemic, according to one of its joint venture partners, Teck Resources Ltd.The Vancouver, Canada-based company said Antamina - in which it has a 22.5% stake - has been allowed by the Peruvian government to change out its previously reduced workforce, which has been in place at the...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Here are five Fastmarkets stories you might have missed on Monday April 13 that are worth another look.Argentinian crude steel production fell by 26.7% year on year in March due to the closure of most plants during a mandatory quarantine enforced by the federal government to contain the spread of the Covid-19 virus, national steel chamber Acero Argentino said.A total of 222,020 tonnes of copper sc...Read More
Operations at the Antamina zinc and copper mine in Peru have been suspended as part of its response to the Covid-19 pandemic, according to one of its joint venture partners, Teck Resources Ltd.The Vancouver, Canada-based company said Antamina - in which it has a 22.5% stake - has been allowed by the Peruvian government to change out its previously reduced workforce, which has been in place at the...Read More
Chinese-Australian miner MMG has withdrawn its copper production guidance for the La Bambas copper mine in Peru as a result of the Covid-19 pandemic but is maintaining guidance for its Dugald River, Rosebery and Kinsevere operations. Las Bambas - one of the world's biggest copper mining facilities - had been expected to produce 350,000-370,000 tonnes of copper in 2020. In 2019, Las Bambas pro...Read More
Here are five Fastmarkets stories you might have missed on Monday April 13 that are worth another look.Argentinian crude steel production fell by 26.7% year on year in March due to the closure of most plants during a mandatory quarantine enforced by the federal government to contain the spread of the Covid-19 virus, national steel chamber Acero Argentino said.A total of 222,020 tonnes of copper sc...Read More