The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on Wednesday March 11.On March 9, Italian authorities extended the lockdown from northern areas across the whole country in an attempt to control the outbreak of the 2019-nCoV coronavirus.Long...Read More
Domestic prices for hot-dipped galvanized coil (HDG) have been unchanged across Europe this week despite a decrease in prices for hot-rolled coil feedstock, sources told Fastmarkets on Wednesday March 11.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was unchanged over the week at ?,?600-610 ($681-692) per tonne ex-works on March 11.The assessment was based on d...Read More
Sentiment in the European market for hot-rolled coil has been bearish due to lower import offers available in the market, sources told Fastmarkets on Wednesday March 11.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?481.00 ($545.94) per tonne on Wednesday March 11, down by ?,?0.07 per tonne day on day from ?,?481.07 per tonne on March 10.This followed a drop...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 11 that are worth another look.The enlargement of the quarantine zone in Italy to a nationwide reach has already started to affect steel output, with at least two long steel mills announcing production stoppages, sources told Fastmarkets on March 11.The first deal for second-quarter aluminium ingot supply to Japan has been...Read More
China's northern coastal province of Hebei will remain the key steelmaking hub in the country even though its production capacity is shrinking and new facilities are being added in south China, market sources told Fastmarkets this week.China has introduced sweeping capacity replacement plans over the past couple of years, compelling producers to upgrade their steel production facili...Read More
Metal mining might not be the first thing that comes to mind when people think of green economics but Boliden chief executive officer Mikael Staffas thinks European lawmakers should pay heed to the industry while they begin to stake out policies designed to reduce carbon emissions on the continent."Everybody wants to do something with the climate and drive an electric car, but no one wants to have...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 11.Please click...Read More
The London Metal Exchange three-month nickel price declined at the close of trading on Wednesday March 11, weakening against continued risk-aversion, while lead futures failed to hold above $1,800 per tonne. Nickel's outright price on the LME closed at $12,420 per tonne this afternoon, falling from an intraday high of $12,905 per tonne, while turnover was high with more than 9,500 lots exchanged b...Read More
Nickel premiums in China, the United States and Europe traded flat in the week to Tuesday March 11, while novel coronavirus (2019-CoV) disruptions further weakened poor appetite for physical nickel.US market stagnates with virus unsettling trading activityChina premiums flat while the import arbitrage window remains firmly closedEuropean market maintains lackluster trajectory while LME volatility...Read More
Prices for hollow steel sections in both Northern and Southern Europe have moved down this week following the nationwide lockdown in Italy intended to control the spread of the 2019-nCoV coronavirus infection, sources told Fastmarkets on Wednesday March 11.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($681-715) per tonne on W...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 11.Please click...Read More
Most stainless steel prices in the United States drifted modestly lower in March even though mills increased their base prices late last month.Alloy surcharges fell by a greater amount than the base price increases, leading to lower overall stainless prices.On February 25, North American Stainless (NAS), Outokumpu Stainless USA and Allegheny Technologies Inc (ATI) separately announced plans t...Read More
Stainless steel scrap prices in the United States stumbled in the week to Tuesday March 10 as the spread of the novel coronavirus (2019-nCoV) has accelerated, affecting many economic communities throughout the world."The spread of the coronavirus has now infected the stainless steel scrap market," one stainless scrap dealer said. Scrap dealers and processors have been quoting and buying materials,...Read More
The London Metal Exchange three-month nickel price declined at the close of trading on Wednesday March 11, weakening against continued risk-aversion, while lead futures failed to hold above $1,800 per tonne. Nickel's outright price on the LME closed at $12,420 per tonne this afternoon, falling from an intraday high of $12,905 per tonne, while turnover was high with more than 9,500 lots exchanged b...Read More
Nickel premiums in China, the United States and Europe traded flat in the week to Tuesday March 11, while novel coronavirus (2019-CoV) disruptions further weakened poor appetite for physical nickel.US market stagnates with virus unsettling trading activityChina premiums flat while the import arbitrage window remains firmly closedEuropean market maintains lackluster trajectory while LME volatility...Read More
Aluminium ingot and billet premiums in Italy held steady this week, but market participants there are bracing for major logistical disruptions because of the country's efforts to contain the novel coronavirus (2019-nCoV) outbreak.Italy is one of the hardest hit European nations, with more than 10,000 cases and more than 600 deaths as of Tuesday March 10 and the country has introduced emergenc...Read More
Chile recorded a 0.4% year-on-year increase in copper production during January, as higher output from Escondida and Collahuasi offset declines from Codelco, Anglo American Sur and BHP's Spence, according to copper commission Cochilco.The country produced 459,100 tonnes of copper content in the first month of 2020, compared with 457,100 tonnes a year earlier, the commission said on Tuesday March 1...Read More
Prices for hot-rolled coil in the United States fell slightly on Wednesday March 11 as fears about the impact of the novel coronavirus (2019-nCoV) on global economies deepened, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US finished the day at $28.81 per hundredweight ($576.2 per short ton), down 0.3% from $28.89 per cwt a day ago, and down 4.2% from...Read More
The price for steel H-beams in Europe was unchanged in the week ended Wednesday March 11, while the market waited for the upcoming monthly European scrap settlements, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-570 ($607-647) per tonne on Wednesday, unchanged week on week.Many European market participants were...Read More
Domestic prices for heavy steel plate decreased across Europe in a slow market after Italian authorities enforced a country-wide travel ban, sources told Fastmarkets on Wednesday March 11. Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was ?,?505-520 ($573-590) per tonne on Wednesday, down by ?,?5 per tonne week on week from ?,?510-525 per tonne on...Read More