Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More
For key market participants in Europe's struggling copper industry, the coronavirus (2019-nCoV) epidemic further limiting demand for products was the last thing they needed.Europe, typically, consumes 16% of all global refined copper, but endured a torrid 2019 when demand for the metal dropped significantly in several major economies.A reduced need for copper in the continent shaves yet more units...Read More
The price of alumina in China is likely to continue edging higher while refineries in the country struggle to ramp up production amid a shortage of raw materials due to the outbreak of novel coronavirus (2019-nCoV) at the beginning of the year, market sources told Fastmarkets. "Northern Chinese regions have removed almost 6 million tonnes of alumina production since the outbreak of the virus...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lb. Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-whs Rotterdam, $/l...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More
Conversations at Fastmarkets' International Copper Conference in Amsterdam, the Netherlands, on February 26-28 revolved around the impact of the novel coronavirus (2019-nCoV) on copper production and procurement chain, as well as logistics disruptions. Coronavirus spreads to Europe The event made use of technology to enable panelists from Italy's KME, Germany's Aurubis and China's Jiangxi Copper t...Read More
There were new bookings reported in the Turkish deep-sea scrap market on Wednesday March 4, with steel mills expected to hold out until the end of the week, sources told Fastmarkets.The steel mills went quiet at the start of last week, after buying around 750,000 tonnes in February with no new cargoes booked so far in March.The last cargo reported sold, was on Monday February 24,&nb...Read More
Broader markets are mixed this morning, Wednesday March 4, with markets in Asia generally weaker, while the London Metal Exchange base metals and western equities are recovering after having taken fright from the United States Federal Reserve's rate cut on Tuesday. The US central bank's emergency 50-basis-point rate cut led the Dow Jones Industrial Average (DJIA) to close down by 2.94% on Tuesday,...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lb. Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-whs Rotterdam, $/l...Read More
Production of nickel-cobalt-manganese (NCM) lithium-ion batteries at South Korean battery maker LG Chem is not being affected by supply disruptions at L&F, one of its local cathode materials suppliers, a company source told Fastmarkets."L&F is not a major supplier to LG Chem," the source said. "LG Chem's own battery cathode operations can make up for the disrupted feedstock supply at L&F."Located...Read More
Domestic prices for heavy steel plate in Europe have inched down over the past week due to poor demand, sources told Fastmarkets on Wednesday March 4.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?510-525 ($568-585) per tonne ex-works on March 4, down by ?,?5 per tonne week on week from ?,?515-530 per tonne on February 26.The assessment was based...Read More
Domestic prices for cold-rolled coil in Northern Europe have inched down under pressure from competitive import offers, sources told Fastmarkets on Wednesday March 4.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?535-560 ($596-624) per tonne on March 4, down by ?,?10 per tonne week on week from ?,?545-570 per tonne. The assessment reflected deals and achi...Read More
Domestic prices for hot-rolled coil in Northern Europe were expected to remain largely stable over the week, supported by a lack of competitive import offers and good order books at domestic steelmakers, market sources told Fastmarkets on Wednesday March 4.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.55 ($540.04) per tonne on March 4, up by only ?,...Read More
The United States Department of Commerce has announced an affirmative preliminary circumvention ruling against imports of steel concrete reinforcing bar from Mexico.Imports of straight rebar that is bent at one or both ends, produced and/or exported to the US by Deacero SAPI de CV, circumvent the existing anti-dumping duty order on rebar from Mexico that is in straight or coil form,...Read More
The prices of mesh-quality wire rod in the European domestic markets have widened downward slightly over the past seven days amid competition among sellers, Fastmarkets heard on Wednesday March 4.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?455-470 ($507-524) per tonne on March 4, down by ?,?5 per tonne on the low end.The corre...Read More
The price of steel rebar in the Italian domestic market was lower this week because of concerns that the coronavirus (2019-nCoV) outbreak will significantly and negatively affect the economy, sources told Fastmarkets on Wednesday March 4. "The market in Italy is quiet and coronavirus is going to stop the economy," one distributor said. The construction industry has not slowed, but buyers are actin...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More
There were new bookings reported in the Turkish deep-sea scrap market on Wednesday March 4, with steel mills expected to hold out until the end of the week, sources told Fastmarkets.The steel mills went quiet at the start of last week, after buying around 750,000 tonnes in February with no new cargoes booked so far in March.The last cargo reported sold, was on Monday February 24,&nb...Read More
Weaker domestic demand and a number of traders in short-selling positions have led to a drop in Japan export scrap prices over the past week, market sources told Fastmarkets.Lower offer prices from Japanese exporters resulted in increased sales activity from the country to South Korea and Taiwan during the week.Fastmarkets' price assessment for steel scrap H2 export, fob main port Japan, was ?23,...Read More