The pig iron market in the United States has weakened during the week to Friday March 13, under pressure from the general economic uncertainty caused by the novel coronavirus (2019-nCoV), sources told Fastmarkets.Fastmarkets' price assessment of pig iron, import, cfr Gulf of Mexico, US, was $345-347 per tonne on Friday, down from $360-363 per tonne a week ago."We are concerned about the effects...Read More
German steelmakers have settled their monthly contracts for ferrous scrap in March with a month-on-month increase of ?,?10-15 ($11-17) per tonne, following the rise in the international market, sources told Fastmarkets on Friday March 13.The steelmakers, however, had wanted lower prices for scrap due to the fall in long steel demand that has resulted from the uncertainties related to the 2019-nCoV...Read More
The pig iron export price from the Commonwealth of Independent States has rolled back under pressure from the bearish mood caused by the global spread of the novel coronavirus (2019-nCoV). Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $320-327 per tonne on March 12, down from $329-340 per tonne a week earlier."Crashed oil pric...Read More
The price of steel slab from Brazil has edged downward over the past week, with sellers attempting to put limits to a downtrend in the market amid growing uncertainty in the United States.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, fell to $460-470 per tonne on Friday March 13, from $470-475 per tonne in the previous week.The market was shaken when many custo...Read More
Trading activity in the CIS export billet market remained quiet in the week ended Friday March 13 despite the fact that most CIS mills have reduced their offer prices.Offers from Russia and Ukraine were heard mainly within the range of $390-395 per tonne fob Black Sea, down by $5 per tonne week on week. One Russian producer even offered billet as low as $380 per tonne fob Black Sea, but the offer...Read More
China's domestic rebar prices increased on Friday March 13 on futures gains driven by market participant optimism over the news of a reduction in the central bank's required reserve ratio. Eastern China (Shanghai): 3,450-3,480 yuan ($494-498) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,320-3,360 yuan per tonne, up 20 yuan per tonne People's Bank of China (PBOC) plan...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13. United States Thin available inventory pressured prices upward. Consumer interest was still limited but suppliers drove liquidity...Read More
The price of stainless steel in the domestic European market was unchanged in the week ended Friday March 13 amid stable market conditions, but participants were bracing for a substantial downturn driven by the measures to contain the outbreak of 2019-nCoV coronavirus, sources have told Fastmarkets."So far... demand is unchanged, but a decrease might come," a Scandinavian distributor said. "Can we...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13.China Spot domestic Chinese ferro-chrome prices have dropped after leading mill Tsingshan Group lowered its March tender price by 2.6%.The lower tender and...Read More
Italian long steel producer Feralpi Group has announced the closure of one of its mills, starting from March 16, due to the outbreak of 2019-nCoV coronavirus, the company told Fastmarkets on Friday March 13.On March 11, Italian authorities issued another decree intended to help restrict the spread of the coronavirus infection, tightening the lockdown across the country from the conditions set out...Read More
Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country's coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on Thursday March 12.On March 11, Italian Prime Minister Giuseppe Conte signed a decree tightening the Italian lockdown from the conditions set out in a previous decree on March 9. While...Read More
Brazilian miner Vale has said it may have to implement contingency measures or eventually suspend operations due to the global spread of the novel coronavirus (2019-nCoV) pandemic around the world.The miner made it clear, however, that "as of today, we have not suffered any material impact to our operations, logistics, sales or financial position, nor [have] any of our employees tested p...Read More
The price of steel slab from Brazil has edged downward over the past week, with sellers attempting to put limits to a downtrend in the market amid growing uncertainty in the United States.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, fell to $460-470 per tonne on Friday March 13, from $470-475 per tonne in the previous week.The market was shaken when many custo...Read More
Aluminium primary foundry alloy premiums were stable in Europe and the United States this week, with market participants pondering the long-term effects of the outbreak of 2019-nCoV coronavirus on the market's fundamentals and supply chain.EuropePremiums in Europe were steady, with market participants uncertain about the direction the market might take due to the measures being taken to try to con...Read More
Steel import prices in South America were mixed over the past week, with some suppliers taking advantage of lower availability to present more expensive offers, while China-origin material was offered at lower levels, source told Fastmarkets.Market participants noted an unusual scenario of flat-rolled steel being offered to Brazil at lower levels than South American Pacific countries. Chinese stee...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
The London Metal Exchange three-month copper price maintained its level on Friday March 13, closing at $5,460, with almost 31,000 lots traded on the day.The copper price touched a high of $5,589 per tonne but also fell to a low of $5,319.50, before consolidating around the $5,400-per-tonne mark.The copper price was also supported by the fresh cancellation of 1,150 tonnes on Friday, bring...Read More
The main coking coal exports hub of Dalrymple Bay Coal Terminal (DBCT) in Queensland, Australia, declared force majeure after vessel loading operations were suspended earlier this week, market sources told Fastmarkets on Friday March 13.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.13 per tonne, up $2.57 per tonnePremium hard coking coal, cfr Jingtang: $166.68 per tonne, up $1.82 per...Read More
Seaborne iron ore prices moved higher on Friday March 13 as portside iron ore stocks fell, steel and steelmaking raw materials futures rose, China's central bank provided another boost to the economy and global equities market found a footing following a rout earlier this week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.71 per tonne, up $0.96 per tonne. 62% Fe low-alumina fines, cfr...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13. United States Thin available inventory pressured prices upward. Consumer interest was still limited but suppliers drove liquidity...Read More