Brazilian steelmaker Usiminas is currently negotiating with local slab producers to feed its Cubat??o unit in the southeastern state of S??o Paulo, after having had to import the raw material from abroad so far in 2019, sources told Fastmarkets this week.Brazilian suppliers spent the first part of the year focused on exporting slab to the United States at higher prices than could be achi...Read More
Turkish steel producers have resumed their deep-sea scrap bookings after a short break of a day, but demand is expected to slow down, sources said on Wednesday June 19.A steel mill in the Iskenderun region booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $278.50 per tonne and 7,000 tonnes of shredded at $283.50 per tonne cfr. This compares with a deep-sea deal from this region on M...Read More
Vale expects to resume production through wet processing at its Brucutu mine in 72 hours, following a decision from the country's Superior Court of Justice that nullified a previous ruling impeding the use of a tailings dam, it said on Wednesday June 19. Capacity at the unit is around 30 million tonnes per year of iron ore, which was halted following an accident at another mine, C??rrego...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreRio Tinto, Global Ore, 170,000 tonnes of 62% Fe Pilbara Blend fines, traded at the July average of a 62% Fe index...Read More
Physical iron ore prices continued to advance on Wednesday June 19 amid big gains in the futures markets following amelioration of trade tensions between China and the United States.MB 62% Fe Iron Ore Index: $114.08 per tonne cfr Qingdao, up $1.80 per tonne. MB 62% Fe Pilbara Blend Fines Index: $112.88 per tonne cfr Qingdao,up $1.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.81 per tonn...Read More
Fastmarkets is proposing changes to a portion of the specifications of its fob Australia and cfr China hard coking coal indices to align with those for materials typically sold in this segment of the seaborne spot market.The proposed revisions are as follows: Coke strength after reaction (CSR): Base 62%; Minimum 57%Volatile matter: Base 21.5%; Range 18.5-27%Ash: Base 8%; Maximum 11%Sulfur: Base 0....Read More
Samarco - Vale and BHP's iron ore pellet joint venture - is likely to restart its operations in Brazil's southeastern Minas Gerais state in the second half of 2020.The restart will take place in "either the third or fourth quarter" of next year, according to Chris Barrington, the chief advisor to the International Iron Metallics Association (IIMA).He disclosed this in his presentation, The Global...Read More
The seaborne coking coal market regained its downward momentum on Wednesday June 19 with participants mostly fixated on their bearish outlook for prices.A July-loading cargo of branded materials was traded on the Global Coal trading platform at $195 per tonne fob Australia during the day, various sources confirmed.A shipment of premium mid-vol hard coking coal, also scheduled for loading in July,...Read More
A major Japanese steelmaker has settled its pulverized coal injection (PCI) price for April-June at $141 per tonne fob Australia with Australian producer Realm Resources for the low-vol PCI Foxleigh.This compares with the settlement at $142 per tonne that it paid for both the January-March quarter and the corresponding quarter last year. The Fastmarkets...Read More
Dovish comments from European Central Bank (ECB) president Mario Draghi combined with some positive US-China trade developments, in that US president Donald Trump said he will meet Chinese president Xi Jinping in late June, to prompt a recovery in equities and industrial metals prices on Tuesday June 18. Markets are now consolidating while they await direction from the conclusion of today's US Fed...Read More
Base metals prices were broadly steady to lower in morning trading on the London Metal Exchange on Wednesday June 19, with waning macroeconomic optimism weighing on commodities.Trading volumes across the complex were thin after bearishness resurfaced, reflecting weakening global economies and the unlikelihood of an imminent US-Sino trade deal.The LME three-month lead price held its ground, trading...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board during morning trading on Wednesday June 19 amid renewed trade optimism and a more dovish tone from policymakers.The broad-based strength exhibited by the SHFE base metals follows comments from US president Donald Trump on social media overnight that he will meet with Chinese counterpart Xi Jinping at the Group of Twenty...Read More
A decade ago, the Shanghai Futures Exchange launched its steel rebar futures contract. In the years that followed it has become the gold standard for steel derivatives, achieving a success that other exchanges aspire to emulate. And they are definitely trying, with a total of 11 steel derivatives contracts launched by the main trading exchanges since. SHFE, which launched a wire rod futures contra...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Fastmarkets' Wednesday June 19 pricing session in Europe.Key drivers The European ferro-titanium price fell for the fourth consecutive week after six weeks of stability. Demand has been quiet since an initial bout of short-covering in mid-April when major European producer FE Mottram stopped production after a fire damaged its UK plant.FE Mottram aims to restart product...Read More
The following Fastmarkets minor metals prices changed on Wednesday June 19:Minor metalsAntimony MB free market regulus, $/tonne: $6,300-6,550 per tonne from $6,350-6,600Antimony MMTA standard grade II, $/tonne: $6,150-6,400 per tonne from $6,200-6,450Bismuth MB free market, $/lb: $3.00-3.30 per lb from $3.10-3.40Cobalt MB free market alloy grade,...Read More
Largo Resources has appointed Paul Vollant as its director of sales and trading, the vanadium producer said on Wednesday June 19.Starting from September 2019, Vollant will lead the development of Largo's sales and trading business, the Toronto-based producer said.Vollant's experience includes the position of general manager of sales and marketing at TNG Limited, Shanghai, where his responsibilitie...Read More
Key data from the Wednesday June 19 pricing session in Shanghai. Key drivers - The cobalt sulfate price in China trended lower on continued weak demand, although the rate of descent slowed in June compared with May, which reflects producers' resistance to lower bids.- Changes to the Chinese subsidies policy on electric vehicles...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 19:Aluminium scrapCommercial pure cuttings: ?920-960 per tonne from ?930-970Commercial cast: ?730-760 per tonne from ?740-770Group 7 turnings: ?420-440 per tonne from ?430-450Aluminium...Read More
The European Commission (EC) imposed definitive safeguard measures on 28 imported steel products in February, replacing the provisional measures that had been in place since July 2018.The EC opened the safeguard case in an attempt to prevent steel shipments being redirected to the EU after the United States imposed import tariffs as part of its Section 232 investigation. Almost one year after the...Read More