Intraday Copper Tips – BUY Copper April at CMP 376.20 for Target 378.50 – 379.90 with SL below price 373.90 Read More
TODAY LME : 27/03/2020Daily LME Daily Stocks is as followsAluminium up by 19100MTCopper down by -650MTLead unchange -25MTNickel down by -30MTZinc down by -725MT Daily LME Cancelled Warrants is as followsAluminium down by -2675MTCopper down by -1150MTLead up by 250MTNickel down by -210MTZinc down by -850MT Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Thursday March 26, climbing by just over 3% to close at its highest level since March 16, while copper futures found support above the $4,800 per tonne threshold.Lead's underlying price on the LME closed at $1,685 per tonne, an increase of more than 3% from its intraday low of $1,635.50...Read More
Sumitomo will temporarily stop operations at its Minera San Cristobal zinc-lead mine in Bolivia due to national restrictions imposed to contain the spread of the Covid-19 virus.On Thursday March 26, Sumitomo published a statement online, which said that it had decided to suspend operations due to all-day or night curfews being imposed in...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
China's exports of ammonium paratungstate (APT) plunged in the first two months of 2020 due to fewer trading days amid extended national holidays due to the novel coronavirus (2019-nCoV) outbreak.China exported around 170 tonnes of APT in January and February, a decline of 67% from the 521 tonnes shipped in the same period of 2019, according to official but unconfirmed data seen by Fastmarkets.The...Read More
Key data from Wednesday March 25 pricing session in Shanghai.Key drivers China's export price for ammonium paratungstate (APT) was steady in a quiet market; most sellers said they had not received any inquiries and many had stopped offering. The tungsten concentrate price continued to slide...Read More
The London Metal Exchange has developed procedures to manage the temporary unavailability of one of its approved warehouses or delivery points that might stem from the Covid-19 outbreak.These measures, which are in line with the exchange's Warehouse Agreement, address potential issues around delivery obligations, warranting and rent payments, it said. "These procedures have been discussed wit...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
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
The global spread of the Covid-19 virus continues to limit deep-sea scrap trading in Turkey, sources told Fastmarkets on Thursday March 26.The finished long steel and billet markets were also seriously down in Turkey because of the outbreak, they added."There has been no export business [for rebar] for the past three weeks - apart from ongoing trades. We are only producing...Read More
Prices for bulk cargoes of ferrous scrap imported to Bangladesh sank on Thursday as scrap-heavy steel mills showed less appetite for material, market sources told Fastmarkets.Mills in Bangladesh have been on a bulk-scrap buying bonanza for much of March - securing at least nine bulk cargoes from the United States, Japan and Australia during the month.But purchasing has declined drastically in rece...Read More
Sumitomo will temporarily stop operations at its Minera San Cristobal zinc-lead mine in Bolivia due to national restrictions imposed to contain the spread of the Covid-19 virus.On Thursday March 26, Sumitomo published a statement online, which said that it had decided to suspend operations due to all-day or night curfews being imposed in...Read More
Governments' massive efforts to support economies have provided some relief to markets and sentiment, but with the novel coronavirus (nCoV 2019) pandemic still spreading rapidly throughout Europe, the United States and elsewhere, there is still just too much uncertainty for markets to settle down.In line with this, the countertrend move of recent days is showing signs of running out of steam this...Read More
Australian exploration company Infinity Lithium has signed a memorandum of understanding (MoU) for a multi-staged investment and assistance package to secure funding for its San Jose lithium project in Spain.The company signed the MoU with the European Institute of Innovation &Technology (EIT) initiative, Innoenergy, which supports innovation for sustainable energy. The initial part of the package...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
Domestic prices for hot-rolled coil have been largely unchanged in Europe due to the limited trading activity resulting from the lockdown measures put in place to combat the Covid-19 virus, sources told Fastmarkets on Thursday March 26.Domestic prices for hot-rolled coil have been largely unchanged in Europe due to the limited trading activity resulting from the measures put in place to comba...Read More
China's domestic hot-rolled coil prices fell on Thursday March 26 amid weak demand, while export trading was also thin with sellers exercising caution after many overseas buyers canceled their orders.DomesticEastern China (Shanghai): 3,350-3,370 yuan ($472-475) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, narrowed downward by 20 yuan per tonneTrading activity w...Read More
ArcelorMittal Nippon Steel India (AMNS India) is the latest steelmaker in the country to confirm it is reducing production rates due to the Covid-19 coronavirus lockdown in the country."AMNS operations are running at very low capacity, with minimum staff inside its facilities," a company spokesperson told Fastmarkets on Thursday March 26 without revealing details on which units had been&...Read More