The London Metal Exchange may switch from open outcry to electronic price discovery if the 2019-nCoV coronavirus makes it impossible for ring-trading to continue safely, it has said.At the moment, the ring is continuing to operate from London, and the exchange has adopted various precautionary measures intended to halt the spread of the virus, including the creation of a split-team arrangement for...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 10 that are worth another look.The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on March 10.A falling aluminium price on the Shanghai Futures Exchange below pro...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 10 that are worth another look.The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on March 10.A falling aluminium price on the Shanghai Futures Exchange below pro...Read More
A falling aluminium price on the Shanghai Futures Exchange below production costs has weakened sentiment for China's alumina market, sources told Fastmarkets this week. Market participants had been bullish about the Chinese alumina price due to reduced production during the height of the novel coronavirus (2019-nCoV) outbreak in the country early this year. Smelters had removed almost 6 milli...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe and China.To view the latest price assessments, follow the links below:Europe- Ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe, $/kg V- Vanadium pentoxide 98% V2O5 min, in-whs Rotterdam, $/lb V2O5China- Ferro-vanadium 78% V min, fob China, $/kg V- Vanadium pentoxide 98% V2O5 m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 10 that are worth another look.The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on March 10.A falling aluminium price on the Shanghai Futures Exchange below pro...Read More
The London Metal Exchange may switch from open outcry to electronic price discovery if the 2019-nCoV coronavirus makes it impossible for ring-trading to continue safely, it has said.At the moment, the ring is continuing to operate from London, and the exchange has adopted various precautionary measures intended to halt the spread of the virus, including the creation of a split-team arrangement for...Read More
Ferrous scrap prices in Mexico were unchanged in the week ended March 6, with rising inventories held by some steelmakers and uncertainty in the United States market.Fastmarkets' weekly assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey, remained at 5,050 pesos ($238) per tonne on Tuesday March 10, while the steel scrap No1 busheling, consumer buying pric...Read More
Turkish steel producers have continued to hold back from the deep-sea scrap market despite shrinking stock levels because of the firm prices being asked, sources said on Tuesday March 10.There have been no new bookings so far this month, but suppliers were keeping their offers steady.Offers of HMS 1&2 (80:20) from the US remained at $280 per tonne cfr, while offers of similar material increased by...Read More
Base metals prices were up across the board this morning, Tuesday March 10, on expectations that central banks and governments will step in to stop the rout. This follows Monday's slump across a broad set of assets that saw the base metals on the London Metal Exchange down by an average of 4.3% at their lows, oil futures slump by more than 35%, the Dow Jones Industrial Average Index (DJIA) off by...Read More
Sherritt International Corp is to exit the Ambatovy joint venture in Madagascar, but its decision will not affect nickel or cobalt production at the mine, the Canadian company confirmed to Fastmarkets on Tuesday March 10. The Canadian miner announced on February 26 that it would not fund its 12% stake in the Ambatovy JV, with Japan's Sumitomo Corp and South Korea's Korea Resources Corp (Kores...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 10 that are worth another look.The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on March 10.A falling aluminium price on the Shanghai Futures Exchange below pro...Read More
Prices for flat steel in Russia's Central Federal District around Moscow started to move up this week after the rouble lost value against the US dollar, sources told Fastmarkets on Tuesday, March 10. Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 42,000-43,000 roubles per tonne on March 10, including 20% VAT, up from 41,000-42,000 roubles per ton...Read More
Domestic prices for hot-rolled coil in Northern Europe have dropped day on day following a decline in import offers and the risks related to the 2019-nCoV coronavirus outbreak in Italy, sources told Fastmarkets on Tuesday March 10.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?481.07 ($549.54) per tonne on Tuesday, down by ?,?3.55 per tonne day on day fr...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 10 that are worth another look.The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on March 10.A falling aluminium price on the Shanghai Futures Exchange below pro...Read More
The London Metal Exchange may switch from open outcry to electronic price discovery if the 2019-nCoV coronavirus makes it impossible for ring-trading to continue safely, it has said.At the moment, the ring is continuing to operate from London, and the exchange has adopted various precautionary measures intended to halt the spread of the virus, including the creation of a split-team arrangement for...Read More
The recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy has resulted in trading activity falling to nearly zero and has caused some minor disruptions to deliveries, sources told Fastmarkets on Tuesday March 10.But production has not been affected by the tougher measures, market participants said.On March 9, Italian authorities ordered a lockdown of whole country in an att...Read More
Ferrous scrap prices in Mexico were unchanged in the week ended March 6, with rising inventories held by some steelmakers and uncertainty in the United States market.Fastmarkets' weekly assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey, remained at 5,050 pesos ($238) per tonne on Tuesday March 10, while the steel scrap No1 busheling, consumer buying pric...Read More
Turkish steel producers have continued to hold back from the deep-sea scrap market despite shrinking stock levels because of the firm prices being asked, sources said on Tuesday March 10.There have been no new bookings so far this month, but suppliers were keeping their offers steady.Offers of HMS 1&2 (80:20) from the US remained at $280 per tonne cfr, while offers of similar material increased by...Read More
The seaborne iron ore market has been bolstered on Tuesday March 10 amid concerns over supply constraints from Brazil and positive expectation for steel demand in March and April. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $92.09 per tonne, up $4.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $93.40 per tonne, up $4.13 per tonne58% Fe fines high-grade premium, cfr Qing...Read More