Copper miner KAZ Minerals is set to be taken into private ownership after its largest shareholders, including Vladimir Kim, offered $2.47 billion to buy out the rest of the company's stakeholders.The bid of 640 pence ( ?6.40, $8.34) per share is being led by the company's chairman, Oleg Novachuk, and Kim, Kazakhstan's richest man. Kim was a non-executive director and chairman of the company when i...Read More
South Africa's proposal to impose an export tax on UG2 chrome ore has revived sentiment and halted a slump in prices, while ferro-chrome markets held steady ahead of the release of November tenders, sources said on this week.News of the proposed export tax saw Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settle at $136 per tonne on Tuesday, up by $1 per t...Read More
An overview of the consumers electronics markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 28.Key driversThe ferro-titanium market in Europe climbed further over the week, adding to a steady run of gains since August 19 when the market was assessed at $3.30-3.85 per kg ddp. Steady demand and competition from overseas buyers in India and China have supported the rally in recent weeks, while persistent scrap tightne...Read More
A Turkish steel mill booked a mixed Baltic Sea scrap cargo at higher prices late on Tuesday October 27, confirming this week's upward price trend, sources told Fastmarkets on Wednesday.The Baltic Sea cargo, booked late on Tuesday evening, comprised 9,000 tonnes of HMS 1&2 (80:20) at $292.50 per tonne, 8,000 tonnes of shredded at $297.50 per tonne and 4,000 tonnes of bonus at $302.50 per tonne...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 28.Key driversThe ferro-titanium market in Europe climbed further over the week, adding to a steady run of gains since August 19 when the market was assessed at $3.30-3.85 per kg ddp. Steady demand and competition from overseas buyers in India and China have supported the rally in recent weeks, while persistent scrap tightne...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the main part firmer this morning, Wednesday October 28, this despite early weakness in major western equity index futures that were suffering because parts of Europe look set to escalate lockdown measures. France is reportedly contemplating a one-month nationwide lockdownNickel prices surge as a nickel min...Read More
Hot-rolled coil prices in the United States declined for the second consecutive day due to diminishing spot market activity and a lack of availability from steel producers, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $33.52 per hundredweight ($670.40 per short ton) on Wednesday October 28, down by 1.1% from $33.89 per cwt on Tuesda...Read More
Domestic prices for hot-dipped galvanized coil in Northern Europe increased in the week to Wednesday October 28, supported by reduced availability of the material in the spot market and strong demand from the automotive sector, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?600-620 ($709-733) per tonne ex-works on October 28,...Read More
Domestic prices for heavy steel plate went down in Europe in the week to Wednesday October 28 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?450-465 ($532-549) per tonne on October 28, down by ?,?5-10 per tonne from ?,?460-470 per tonne.The assessment reflected offers and achievable prices heard i...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 28 that are worth another look.Both the North American and Brazilian markets have strong growth potential stemming from infrastructure-related activity, Gerdau's global chief financial officer Harley Scardoelli told attendees at Fastmarkets' 2020 Steel Success Strategies Online conference on October...Read More
Brazilian flat and long steel producer Gerdau is optimistic about the country's steel demand in 2021, chief executive officer Gustavo Werneck said on Wednesday October 28."We are foreseeing a growth of steel demand somewhere between 6-8% [in 2021] compared with 2020," Werneck said. Brazilian apparent steel consumption is expected to fall by 4.7% this year, to 20 million tonnes from 20.98 million t...Read More
The price of mesh-quality steel wire rod has been broadly stable in Southern Europe over the past week, despite reduced buying activity caused by growing uncertainty over further Covid-19 lockdowns in the region. Short supplies and good producer order books were supporting prices, sources told Fastmarkets on Wednesday October 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-qu...Read More
A Turkish steel mill booked a mixed Baltic Sea scrap cargo at higher prices late on Tuesday October 27, confirming this week's upward price trend, sources told Fastmarkets on Wednesday.The Baltic Sea cargo, booked late on Tuesday evening, comprised 9,000 tonnes of HMS 1&2 (80:20) at $292.50 per tonne, 8,000 tonnes of shredded at $297.50 per tonne and 4,000 tonnes of bonus at $302.50 per tonne...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Seaborne iron ore prices were up on Wednesday October 28 amid an uptrend in the futures market, which was prompted by low steel reinforcing bar (rebar) inventories, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.87 per tonne, up $1.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.10 per tonne, up $1.09 per tonne58% Fe fines high-grade premium, cfr Qing...Read More
Activity in the Iranian export market for steel billet remained subdued in the week ended Wednesday October 28 because mills booked significant tonnages with traders in earlier weeks.There have been few offers from mills, with the rare price indications coming at $410 per tonne fob, but no fresh bookings were reported this week.Traders, meanwhile, sold a cargo of Iranian billet to Indonesia at aro...Read More
China's domestic rebar prices moved up on Wednesday October 28, following futures gains prompted by the expectation of lower inventories next month.DomesticEastern China (Shanghai): 3,730-3,760 yuan ($556-561) per tonne, up by 30 yuan per tonneMarket participants said their inventories had dropped gradually over the past two or three weeks on good end user demand.Rebar stock in one of big reb...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 28.Key driversThe ferro-titanium market in Europe climbed further over the week, adding to a steady run of gains since August 19 when the market was assessed at $3.30-3.85 per kg ddp. Steady demand and competition from overseas buyers in India and China have supported the rally in recent weeks, while persistent scrap tightne...Read More