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...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 43 points in pre-opening trade.Index futures recovered slightly following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was a jump to 1,500,000 from 281,000 last week. Actual was 3,283,000. Consensus for third estimate of fourth quarter GDP was unchanged from the third quarter at an annu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 24 that are worth another look. India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.Freeport-McMoRan has declared force majeure on near-term sales agreements for its Cerro Verde mine in Peru, according to...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 24.Please click on...Read More
India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.In an address to the nation, Indian prime minister Narendra Modi said that the lockdown was effective from midnight local time, 18:30 London time."For the past two days, many parts of the country have been locked down. From m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 24 that are worth another look. India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.Freeport-McMoRan has declared force majeure on near-term sales agreements for its Cerro Verde mine in Peru, according to...Read More
India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.In an address to the nation, Indian prime minister Narendra Modi said that the lockdown was effective from midnight local time, 18:30 London time."For the past two days, many parts of the country have been locked down. From m...Read More
South African state transport operator Transnet has confirmed that all the country's bulk terminals will be closed to minerals shipments under a three-week government-ordered lockdown amid the novel coronavirus (2019-nCoV) pandemic. President Cyril Ramaphosa announced the lockdown on the evening of Monday March 23, stating it will run from midnight on March 26 until April 17. The bulk termina...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 24 that are worth another look. India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.Freeport-McMoRan has declared force majeure on near-term sales agreements for its Cerro Verde mine in Peru, according to...Read More
A two-day lockdown announced on Sunday night in the Democratic Republic of Congo's (DRC) Haut Katanga province has heightened concerns that the spread of the novel coronavirus (2019-nCoV) could affect the supply of copper and cobalt coming from the region. The lockdown prohibits all activity in the province, which, as well as being a production hub, provides a crucial export route for raw material...Read More
Ferrous scrap prices in Mexico increased in the week ended Friday March 20 on a strong currency devaluation which made the material more expensive in pesos, while steelmakers were building inventories before scrap runs out amid global lockdowns.At least two major steel producers bid for scrap at prices 200-300 pesos ($8-12) above those of the previous week. But the increase was not enough to offs...Read More
Production cuts, closures and weak steel trade resulting from the global spread of the novel coronavirus (2019-nCoV) sent Turkish scrap import prices sharply down again on Tuesday March 24.News of a trade from March 19 emerged today, when a steel mill in the Iskenderun region booked a UK cargo of 15,000 tonnes of HMS 1&2 (80:20) at $226 per tonne cfr.That was substantially lower than&nbs...Read More
European Aluminium is contesting the launch by the United States of an anti-dumping investigation into common alloy aluminium sheet from various European countries and has instead called for the European Commission to address subsidized Chinese overcapacity. The investigation concerns Croatia, Germany, Greece, Italy, Romania, Serbia, Slovenia, Spain and Turkey and was opened earlier this month. "W...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 24 that are worth another look. India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.Freeport-McMoRan has declared force majeure on near-term sales agreements for its Cerro Verde mine in Peru, according to...Read More
South African platinum and chrome miner Tharisa will cease mining after its night shift on Wednesday March 25 in response to a government-imposed three-week lockdown amid the spread of the novel coronavirus (2019-nCoV). President Cyril Ramaphosa announced the lockdown on the evening of Monday March 23, saying all mines would be required to shut down by midnight on Thursday. "Tharisa fully sup...Read More
The ramping-up of copper production at First Quantum Minerals' Cobre Panama project may be slower than expected, with output in the first half of this year likely to be affected by the health protocols designed to prevent the spread of the 2019-nCoV coronavirus pandemic.Cobre Panama, the only major greenfield project in the copper industry, has been specifically authorized by the government of Pan...Read More
A two-day lockdown announced on Sunday night in the Democratic Republic of Congo's (DRC) Haut Katanga province has heightened concerns that the spread of the novel coronavirus (2019-nCoV) could affect the supply of copper and cobalt coming from the region. The lockdown prohibits all activity in the province, which, as well as being a production hub, provides a crucial export route for raw material...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 24 that are worth another look. India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.Freeport-McMoRan has declared force majeure on near-term sales agreements for its Cerro Verde mine in Peru, according to...Read More
Domestic prices for hot-rolled coil have been fairly stable across Europe due to the limited trading activity, sources told Fastmarkets on Tuesday March 24.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?474.00 ($508.63) per tonne on Tuesday, up by ?,?1 per tonne from ?,?473.00 per tonne ex-works on March 23.Wednesday's index was calculated based on offers and...Read More
India is entering a 21-day lockdown period to help prevent the spread of the novel coronavirus (2019-nCoV) pandemic, but the production of essential commodities will continue.In an address to the nation, Indian prime minister Narendra Modi said that the lockdown was effective from midnight local time, 18:30 London time."For the past two days, many parts of the country have been locked down. From m...Read More