Brazilian vehicle output shrank by 3.9% year-on-year during December 2019, because higher domestic registrations were not enough to offset the continuing tumble in export volumes, local automakers' association Anfavea said on Tuesday January 7.The country produced 170,501 units in the last month of 2019, in comparison with 177,503 units a year before. These were the lowest monthly figures since 14...Read More
China's steel demand will remain largely flat in 2020 due to an anticipated softening of its automotive and shipbuilding industries, according to the China Metallurgical Industry Planning & Research Institute (MPI). The government research agency expects China's total steel demand in 2020 to amount to 881 million tonnes, down 0.6% from its forecast for 2019. It forecast China's 2019 steel demand t...Read More
Demand for flat steel products in Turkey was strong in December 2019 because of restocking purchase activity as well as globally increasing prices, market participants told Fastmarkets on Tuesday January 7.Local producers have now filled their order books until late March, sources added.Demand was strong in Turkey in November because of the rising prices, and continued to be strong in December.And...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 7.Click on...Read More
This year could look similar to 2019 on the merger and acquisitions front in the United States steel industry, with long products likely to be busier than flat products, according to analysts."People will get to doing deals [in 2020] much like [last] year - very selectively and where the strategic fit is right and they can bring some synergies to the table. I think that's what is really going to d...Read More
U.S. equity index futures were higher this morning despite missile attacks by Iran against U.S. troop locations in Iraq. S&P 500 futures were up 7 points in pre-opening trade. President Trump is scheduled to comment later this morning.Index futures moved slightly higher following release of the December ADP Employment Report at 8:15 AM EST. Consensus was 150,000 versus a gain of 67,000 in Nove...Read More
The three-month aluminium price on the London Metal Exchange led gains at the close of trading on Monday January 6, closing firmly above the $1,800-per-tonne support level despite just under 30,000 tonnes of rewarranting this morning, while the light metal's forward spreads widened over the day. Aluminium's outright price on the LME closed at $1,833 per tonne, topping daily gains across the comple...Read More
Fastmarkets copper concentrates treatment and refining charges (TC/RC) index was largely stable week on week due to quiet trading ahead of Lunar New Year on January 25. The copper concentrates TC/RC index was at $54.30 per tonne / 5.43 cents per lb on Friday January 3, compared little changed from $54.80 per tonne / 5.48 cents per lb a week ago. The index rose above $54 per tonne at the...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 0.9% month on month in November 2019, according to data released by major Japanese trading house Marubeni Corp. Aluminium stocks at the three ports totaled 321,200 tonnes on November 30, up 3,000 tonnes from the end of October, figures released on Monday January 6 showed. This follows a 2.6% month...Read More
Here are five Fastmarkets MB stories you might have missed on Monday January 6 that are worth another look.The global finished steel market in 2020 is set to be weighed down by a continuation of last year's weaker end-consumption rates, but there are bright spots coming in the longer term, Fastmarkets analysts forecast.Fastmarkets copper concentrates treatment and refining charges (TC/RC) index wa...Read More
UG2 chrome ore producers achieve higher sales prices amid improved sentiment.Chrome ore prices up on higher offersAlloy downtrend capped amid stronger upstream marketJapanese, South Korean markets flat during holidaysEuropean alloy prices riseUS prices slightly firmer on thin trader inventories.Prices for UG2 chrome ore rose on Friday January 3 after South African producers increased their offers...Read More
Seaborne manganese ore prices in China rose in the week ended Friday January 3 on support from reduced availability of material and improved sentiment after Hebei Steel increased its silico-manganese tender price by more than expected. The markets for higher and lower grades of manganese ore on a cif China and fob Port Elizabeth basis increased for the fifth consecutive week after some miners limi...Read More
Key data from the pricing session in London in the week to Friday January 3.Europe European antimony prices have begun the year under pressure but prices were barely changed due to the thin liquidity reported on spot basis, which capped any big decrease. Only the antimony MMTA standard-grade II, in-whs Rotterdam price adjusted downward by 0.1% after a deal was...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday January 3.ChinaKey drivers The price range for Chinese silicon 5-5-3 was flat week on week in a muted export market. Despite a quiet market, Chinese exporters held offer prices firm given the tight prompt availability of silicon and the rising domestic transportation cost, which usually doubles before the Lunar New Year ho...Read More
Turkish steel producers have returned to the deep-sea scrap markets for February cargoes with prices remaining largely stable, sources said on Monday January 6.Bookings of four deep-sea cargoes were heard after the daily indices closed late on Friday January 3.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (90:10), 8,000 tonnes of shredded and 2,000 tonnes...Read More
Ferrous scrap prices in most global markets were stable in the week ended Friday January 3 amid an absence of significant spot trading activity due to the year-end festivities.Turkish market remains quiet. United States looks forward to strong start to new year. Taiwanese buyers cut bids. India continues to catch up with international markets. TurkeyTurkish imported scrap prices remained stable th...Read More
Turkish scrap prices have remained largely stable over the past week with the costs for imported scrap remaining similarly steady, sources said on Monday January 6.Only two steel mills have made slight changes in their buy prices for auto bundle scrap over the past seven days.Long steel mill IDC raised its buy price for the...Read More
Cobalt metal prices in China have risen steadily since late December due to a combination of restocking activity ahead of the Chinese New Year holiday (January 24-30) and a recent rally in share prices of domestic cobalt-focused companies.Fastmarkets assessed the price of cobalt 99.8% Co min, ex-works China at 270,000-285,000 yuan ($38,757-40,910) per tonne on Friday January 3, up by 15,000-20,000...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% basis, China ex-works, adjustment to the standard-grade cobalt low-end price is on a $ per lb basis.Fastmarkets prices Read More