January 2020

COKING COAL DAILY: Moranbah North coal mine's roof falls; spot market steady

Seaborne coking coal prices were unchanged on Thursday January 30, despite Australian miner Anglo American confirming a 'geotechnical issue at Moranbah North [mine in Queensland, Australia] during development works, which resulted in a roof fall incident.'

IRON ORE DAILY: Buyers will honor long-term contracts amid talks of downstream cuts

Seaborne iron ore prices were down on Thursday January 30 while market participants further lowered estimates of physical transaction prices amid talk of steel production cuts in China and resulting concerns over the impact on mills’ raw material procurement.

FOCUS: Virus jitters will affect China's steel exports, sources say

The Wuhan coronavirus will likely influence fundamentals in China’s steel market and Chinese export trends in the near future, sources told Fastmarkets this week.

Southeast Asian billet import price dips amid declining scrap costs, Wuhan virus

Prices in Southeast Asia’s steel billet market fell during the week to Thursday January 30 with market participants adopting a bearish outlook amid weakening ferrous scrap prices and uncertainty surrounding the coronavirus outbreak in Wuhan City, China.

HOTTER ON METALS: Coronavirus adds to global growth challenges

Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.

APEX Q4 2019: SP Angel team tops base metals prediction leaderboard

John Meyer, Sergey Raevskiy and Simon Beardsmore of SP Angel clinched the top spot on the base metals leaderboard for the Apex fourth-quarter 2019 predictions, with an accuracy rating of 99.29%, while Rhona O’Connell of INTL FC Stone came top for precious metals with a rating of 99.26%.

BREAKING: China offering force majeure certs for coronavirus-hit businesses

The China Council for the Promotion of International Trade is offering "force majeure certificates" to businesses in China affected by the outbreak of the Wuhan novel coronavirus.

IN CASE YOU MISSED IT: 5 key stories from January 29

Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.

US OCTG, line pipe prices up; market sentiment mixed

Prices for oil country tubular goods (OCTG) and line pipe in the United States increased in January, although sentiment remains mixed due to uncertainty about demand and about the impact of recent increases on hot-rolled coil prices.

US HRC index falls below $30/cwt again on negative scrap outlook

Hot-rolled coil prices in the United States again dropped below $30 per hundredweight ($600 per short ton) on fears that a negative ferrous scrap outlook for February could put the flat-rolled steel market under more pressure.