Some Italian steelmakers have started to resume operations with the Covid-19 lockdown in the country expected to end on Monday April 13.European steelmakers have been reducing output and temporarily idling equipment due to the poor demand resulting from lockdown orders and other quarantine measures implemented across the region with the intention of preventing the spread of Covid-19.Italian long s...Read More
Flat steel prices continued to decrease in Turkey during the week to Thursday April 9, with market demand very weak, Fastmarkets heard.Trading was scarce because of the falling prices and the general uncertainty in the world amid the Covid-19 pandemic, Turkish sources said.Several automakers in Turkey stopped production during March because of the pandemic.Turkish domestic scrap prices increa...Read More
The price of ferrous scrap imported into India remained broadly stable this week with the country's Covid-19 lockdown continuing to keep trading at a standstill, but buoyed by increases in other global scrap markets, sources told Fastmarkets on Thursday April 9.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $245.19 per tonne on Thursday, little changed...Read More
The market for pig iron exports from the Commonwealth of Independent States decreased again on new sales to China booked at lower prices during the week to Thursday April 9.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $265-275 per tonne on April 9, down from $277-282 per tonne a week earlier.Several sales of Ukraine-orig...Read More
The Turkish deep-sea scrap import markets have been silent since a sharp rebound earlier in the week, with supply tight due to the effects on work patterns of the Covid-19 pandemic, sources said on Thursday April 9.Scrap import prices have gone up strongly amid reduced availability of material in the deep-sea markets, caused by the closing of scrapyards especially in the UK and United States in at...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
Seaborne iron ore prices inched up on Thursday April 9 with data showing that China's steel inventory is being consumed at a faster-than-expected pace and some jitters emanating about Brazilian supply, market participants said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.77 per tonne, up $1.13 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.20 per tonne, up $1.05 per tonne. 58%...Read More
The seaborne coking coal market underwent another active day of spot trading on Thursday April 9, which resulted in prices remaining largely flat. Fastmarkets IndicesPremium hard coking coal, fob DBCT: $133.13 per tonne, down $1.14 per tonnePremium hard coking coal, cfr Jingtang: $138.25 per tonne, down $0.86 per tonneHard coking coal, fob DBCT: $120.01 per tonne, up $1.67 per tonneHard cokin...Read More
Vietnamese buyers of imported ferrous scrap have dismissed higher offers this week due to the lower Kanto Tetsugen auction prices, while Taiwanese buyers are slowly increasing their bids in light of higher prices in key market Turkey. Market participants said they expect more spot trading activity next week when a clearer price outlook emerges. Vietnam Fastmarkets' weekly price assessment for...Read More
Key data from Fastmarkets' pricing session in Shanghai on Thursday April 9. Key drivers Extended lockdowns globally to tackle the spread of the Covid-19 virus has further stifled demand for aluminium including China's exported aluminium products. The front-month aluminium contract on the Shanghai Futures Exchange hovers near four-year lows of 11,310 yuan ($ 1,601.30) per tonne, be...Read More
China's hot-rolled coil prices rose on Thursday April 9 despite moderate trading activity, with sentiment improving on gains in the futures market.DomesticEastern China (Shanghai): 3,270-3,280 yuan ($463-464) per tonne, up 50 yuan per tonneNorthern China (Tangshan): 3,200 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader said trading activity on Thursday was just moderat...Read More
China's domestic rebar prices increased on Thursday April 9 amid reports of a drop in inventory levels at mills and the spot market. Eastern China (Shanghai): 3,400-3,430 yuan ($481-486) per tonne, up by 30 yuan per tonneNorthern China (Beijing): 3,350-3,380 yuan per tonne, up 10-20 yuan per tonneSteel stocks continued to drop over the past week due to good demand. Data showing this decline releas...Read More
The London Metal Exchange three-month tin price was boosted during morning trading on Thursday April 9, with a fresh outflow of 115 tonnes, while LME zinc's fresh cancellation of 8,525 tonnes offset an inflow of around 8,950 tonnes.LME tin's outright price was recently at $14,750 per tonne, an uptick over 2% from Wednesday's closing price of $14,397 per tonne, while just over 100 lots of material...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Thursday April 9, as were Asian-Pacific equity indices. Markets seem to be consolidating after a show of strength earlier in the week, which was fueled by reports that business activity was ramping up and some of the Covid-19 hotspots in Europe were showing some early signs of peaking. While the...Read More
Stainless steel prices in China declined over the past week amid poor demand from both downstream industries within the country and overseas buyers. Market participants said that stainless steelmakers were limited in their ability to slash prices any further because of the recent stability in the price of nickel. The three-month nickel contract on the London Metal Exchange has remained rangebound...Read More
Brazilian mining company Vale has decided to extend the care and maintenance period at its Voisey's Bay nickel mine, in northeast Canada, for up to three months to prevent the spread the Covid-19 coronavirus, the company said on Wednesday April 8.The Long Harbour Processing Plant in Newfoundland, Canada, however, will maintain activity using stockpiled nickel and cobalt concentrates, the miner sai...Read More
Airbus, Europe's largest manufacturer, will cut aircraft production of its core three aircraft models by roughly a third, the company said in a release on Wednesday April 8. The aircraft manufacturer will sharply reduce production from the bestselling A320 single-aisle jet to 40 per month from 60 per month previously, assembled in Toulouse and Hamburg. It will also cut production of the A350 jet t...Read More
The spread of the Covid-19 virus is forcing shutdowns and a reassessment of consumers' cobalt requirements. Prices of cobalt - metal, intermediates and salts - have so far taken a hit amid concerns of a general, global economic slowdown caused by the virus; a slower uptake in electric vehicle usage; and disrupted demand from the aerospace sector. But lockdowns aimed at limiting the spread of the v...Read More
The price of stainless steel in the European domestic market was largely unchanged this week with low nickel prices and a mill restart in Italy preventing further significant increases, Fastmarkets heard on Thursday April 9.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?2,090-2,105 ($2,271-2,287) per...Read More
Prices in Southeast Asia's steel billet market held steady on Thursday April 9 amid a stalling of imports into China. Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into Manila, was $365-375 per tonne on Thursday, unchanged from a day earlier.The range is down $5 per tonne on the low end compared with $370-375...Read More