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
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
Prices for bulk cargoes of deep-sea ferrous scrap imported into Bangladesh increased by $10 per tonne over the week to Thursday April 9, with suppliers in the United States raising their offers in response to lower material availability.Bangladesh import prices were also raised by continued demand for steel scrap in the country, despite the nation's recently-imposed lockdown, with at least one ste...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
Nickel markets worldwide were holding steady in the week to Tuesday April 7 while the Covid-19 pandemic continued on an unpredictable path.Nickel premiums static in European marketUS sellers hold to existing offers despite higher freight costsChina sees little trading on lack of arbitrage opportunities.European premiums steady in subdued spot tradeEuropean nickel premiums remained stable in the we...Read More
World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.This is the stark assessment by the World Trade Organization, which said global goods trade could contract by as much as 32% in 2020 under its worse-case scenario of suppression measures staying in place for the whole year and limite...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
Chile reported an 8% year-on-year increase in copper production during February, because heavy rains and lower output from the Chuquicamata mine had severely reduced volumes in 2019, state copper commission Cochilco said on Tuesday April 7.Chilean copper output totaled 448,300 tonnes in February 2020, from 415,200 tonnes in the corresponding month last year. Most of the largest mines in the countr...Read More
The lockdown in South Africa has sparked a sharp rise in seaborne manganese ore prices in China, whereas the chrome ore market has lagged behind due to different end uses, slower portside price movements and high stocks. South Africa has been under a nationwide lockdown since Thursday March 26, implemented to prevent the spread of the Covid-19 virus. The country's metals and mining operations...Read More
Hong Kong trading house Noble Group Holdings will close its base metals and rare earths trading desks as part of widespread board-mandated staffing cuts, informed sources told Fastmarkets. Noble's board is said to have agreed on a directive for a major cut to headcount across the business, with traders informed that they would be let go on Monday and Tuesday this week. "They are blaming Covid-19 b...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.This is the stark assessment by the World Trade Organization, which said global goods trade could contract by as much as 32% in 2020 under its worse-case scenario of suppression measures staying in place for the whole year and limite...Read More
The Turkish deep-sea scrap import markets went quiet again after the strong rebound earlier in the week, with supplies tighter because of the Covid-19 pandemic, sources said on Wednesday April 8.Scrap import prices have gone up strongly amid reduced availability of material in the deep-sea market, caused by the closing of scrapyards to control the pandemic and the subsequent decreased collection v...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday April 8.Key drivers The ferro-titanium market in Europe has consolidated gains made in the first week of April, cementing prices amid new concerns about production in the UK adding to existing supply worries from key international exporter Russia. UK-based sources have doubts on near-term production due to the Covid-19 pandemic tha...Read More
Japanese scrap exporters have started to shun deals at the most recent transaction prices, they told Fastmarkets this week, with scrap collection activity slowing down and bulk scrap deals to Turkey being agreed at higher prices in recent days.The Japanese ferrous scrap market continued to fall over the past seven days, with Fastmarkets' price assessment for steel scrap H2, export, fob main port J...Read More
French mining and metals group Eramet will put on hold the construction of its Argentinian lithium production plant for an indefinite period due to the economic uncertainty sparked by the Covid-19 pandemic.The company said in a statement on Wednesday April 8 that its main focus is to preserve its cash position by reducing investments against the backdrop of uncertainty surrounding the global econo...Read More
Spot cobalt hydroxide deals are being concluded on a fixed-price basis while buyers and sellers seek to shield themselves from market volatility expected to come from measures taken to curb the global spread of the coronavirus.News late last month that South Africa would enter a 21-day lockdown created uncertainty over the supply of cobalt hydroxide in the coming weeks and months. About 65% of the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
Market activity in the European hot-rolled coil market has been poor due to the effects of the measures taken to control the spread of the Covid-19 pandemic, sources told Fastmarkets on Wednesday April 8.Import prices have decreased further over the course of this week, but domestic prices have been largely stable in Northern Europe, with only a few deals done.Fastmarkets' daily steel hot-rolled c...Read More
The court of Czestochowa, Poland has approved the tender conditions for the sale of struggling Polish steel-plate producer Huta Czestochowa, sources told Fastmarkets on April 8.The starting price is set at 250 million Polish zloty ($60 million) and bids to acquire Huta Czestochowa can be submitted until May 29, the source in the bankruptcy trustee office told Fastmarkets."Bids can be sub...Read More