The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:While the ferro-alloy industry's initial response to the Covid-19 outbreak was marked by rising prices primarily in response to supply-side concerns, focus has now shifted somewhat. As Chinese activity slowly returns to more normal levels, for alloys with a strong Chinese prod...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.Coronavirus continues to shape scrap markets but tighter supply may partly offset lower demandWe have downwardly revised our ferrous scrap price forecasts for the following few months and, as a result, for the whole year of 2020, with the Covid-19 outbreak outside China stalling the markets. The Fastmarkets' daily benchmark...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Although China is slowly returning to pre-outbreak activity, the same cannot be said for the rest of the world, which is grappling with the Covid-19 outbreak, with a fifth of the global population and counting under lockdown. Average blast furnace activity in China is recovering but iron ore demand from outside China is expec...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
Three-month base metals prices on the London Metal Exchange were up across the board this morning, Monday April 6, as were gold and silver prices.Continued declines in the daily Covid-19 death tolls reported in Italy and France have lifted hopes that the virus can be brought under control, as seen in China. * China’s financial markets are closed on Monday for a public holiday, but other Asian...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 84 points in pter-opening trade. Index futures are responding to news that COVID 19 may have passed its peak in Europe and has started to slow its growth in the U.S. According to Morgan Stanley, "'The worst is behind us,' and risk-vs.-reward hasn't been this attractive in years".WTI Crude Oil slipped $0.70 to $27.63 af...Read More
Grupo Mexico has started to gradually reduce its mining operations in an effort to prevent the spread of the Covid-19 virus, with its activities declared non-essential by the government. The world's fifth-largest copper producer said on social media platform Twitter that it was complying with a decree issued by the governor of the state of Sonora in a manner that would protect its workers' health...Read More
The London Metal Exchange three-month aluminium price briefly breached the $1,500 per tonne mark, with an intraday high of $1,505 per tonne, but closed at $1,481.50 per tonne on Friday April 3. A little more than 9,100 aluminium lots were traded on Friday, and the underlying price remained under pressure despite an outflow of 2,550 tonnes across LME-registered warehouses. Overall aluminium invento...Read More
Fastmarkets' copper concentrates treatment charges and refining charge (TC/RC) index moved up to $65.70 per tonne and 6.57 cents per lb this week, underpinned by a handful of deals reported in the high $60s per tonne. Traders are cautious about offering tonnages to the spot market in anticipation of supply uncertainties from South America. Notably, the counterparty spread between TC purchase level...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Grupo Mexico has started to gradually reduce its mining operations in an effort to prevent the spread of the Covid-19 virus, with its activities declared non-essential by the government. The world's fifth-largest copper producer said on social media platform Twitter that it was complying with a decree issued by the governor of the state of Sonora in a manner that would protect its workers' health...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday April 3. China The spot domestic ferro-chrome market continued to rise on tightened supply. The UG2 chrome ore market is largely on hold amid South Africa's Covid-2019 lockdown, while prices for portside cargoes are higher. Absence...Read More
Fastmarkets' copper concentrates treatment charges and refining charge (TC/RC) index moved up to $65.70 per tonne and 6.57 cents per lb this week, underpinned by a handful of deals reported in the high $60s per tonne. Traders are cautious about offering tonnages to the spot market in anticipation of supply uncertainties from South America. Notably, the counterparty spread between TC purchase level...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday April 3.China The buy-side of the seaborne market significantly drove up prices after the lockdown in South Africa sparked supply fears and portside price rises. Portside ore prices continued to rise after traders increased offer prices, however, buying interest waned in...Read More
The inter-merchant spot price for light iron scrap in the UK has stabilized over the past week after falling by more than 37% between March 13 and March 27, as the market pauses ahead of monthly delivery settlements to consumers for April.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?45-55 ($56-68) per tonne on...Read More
Fastmarkets' copper concentrates treatment charges and refining charge (TC/RC) index moved up to $65.70 per tonne and 6.57 cents per lb this week, underpinned by a handful of deals reported in the high $60s per tonne. Traders are cautious about offering tonnages to the spot market in anticipation of supply uncertainties from South America. Notably, the counterparty spread between TC purchase level...Read More
The price of ferrous scrap imported into India continued to dip this week following a substantial drop last week when the country implemented a 21-day nationwide lockdown, bringing trade to a halt, sources told Fastmarkets on Friday April 3.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $243.49 per tonne on Friday, down from $247.00 per tonne one week p...Read More
Markets are mixed and on average weaker this morning, Friday April 3, after the rally on Thursday following a 20% rise in oil prices faded. United States President Donald Trump seemed to distract the market after the dreadful US unemployment claims data on Thursday, by talking of a potential oil deal that would see 10-15 million barrels per day cut, but traders are skeptical after Russia denied th...Read More