The European Commission has placed provisional duties ranging 30.4% to 48% on aluminium extrusion imports from China, it said on Tuesday October 13. The commission launched the investigation on duties in February following a complaint by European Aluminium claiming member companies were being negatively affected by the dumping of Chinese exports of aluminium extrusions. Products from Guangdon...Read More
A summary of the operational results for Russia's Magnitogorsk Iron & Steel Works (MMK), for the third quarter of 2020.In brief In the third quarter, steel output was 2.88 million tonnes. This was up by 22.2% compared with the quarter before, when it was 2.36 million tonnes. That came amid a recovery in business activity and the launch of the company's hot-rolled products Mill 2500 in July. The mi...Read More
The domestic United Arab Emirates rebar price broke the steady streak held since mid-September this week after the low end of the range fell on weak demand, sources said on Tuesday October 13.Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia remained fairly stable over the past week amid limited demand, sources said on Tuesday October 13. UAE Offer prices for hot-rolled coil from Indian suppliers remained steady week on week at $525-535 per tonne cfr. Market participants gave a workable price for India-origin HRC of around $525 per tonne, although no significa...Read More
A summary of the operational results for Russian steelmaker Severstal for July-September 2020.In briefSeverstal increased its share of steel product sales to the domestic market to 63% in July-September, from 56% in April-June, owing to the recovery of demand in Russia. Year-on-year, however, the share was down from 67%.Domestic demand in Russia was slow to appear this year due to the effects of C...Read More
Liberty Steel UK has started producing "green" rebar at its Rotherham mill, targeting domestic infrastructure projects, it said on Thursday October 8.The site has an electric arc furnace (EAF) and rolling mill that last week started to make what the company says is "sustainably produced" reinforcing bar that will be used to support concrete structures in major construction and infrastructure proje...Read More
Scrap prices in Mexico were largely stable in the week to Friday October 9, because of a flat outcome in the price settlements in the United States and low supply of material locally.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Baj?-o at 6,450 pesos ($304) per tonne on Tuesday October 13, and the corresponding steel scrap No1 heavy melt, consumer buying...Read More
A summary of operational results from Polish coking coal miner Jastrzebska Sp??lka Weglowa (JSW) for the quarter ended September 30, 2020.In brief JSW's operational performance improved with the European steel market slowly recovering from the effects of the Covid-19 pandemic. During the quarter, European steelmakers such as ArcelorMittal and Voestalpine started to gradually resume steelmaking cap...Read More
The market for deliveries of steel scrap to domestic consumers in the UK has mostly gone down so far in October, paring back the gains made last month, industry sources said in the week to Tuesday October 13.September's gains were being reversed because the weakness of European exports to traditional deep-sea destinations meant that there was increased scrap supply domestically, which weighed on p...Read More
Seaborne premium hard coking coal prices slumped on Tuesday October 13, with the latest transactions agreed at lower prices while other participants watched the market for developments.Fastmarkets indicesPremium hard coking coal, fob DBCT: $125.04 per tonne, down $6.04 per tonnePremium hard coking coal, cfr Jingtang: $135.76 per tonne, down $4.38 per tonneHard coking coal, fob DBCT: $111.02 per to...Read More
Seaborne iron ore prices buckled on Tuesday October 13, amid soaring port inventories in China and weakened demand for finished steel, according to trade sources.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.15 per tonne, down $3.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.30 per tonne, down $3.14 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112...Read More
The three-month copper price on the London Metal Exchange softened toward the $6,700-per-tonne support level during morning trading on Tuesday October 13, despite another fresh cancelation of 12,150 tonnes, while positive forward spreads and steady trading volumes kept LME tin futures elevated. The LME copper price was recently trading at $6,715.50 per tonne, down from Monday's closing price of $6...Read More
Chinese exports of unwrought aluminium and aluminium products fell slightly on a year-on-year basis in September while imports of unwrought copper and copper products continued to increase, according to Chinese customs data released on Tuesday October 13.Chinese exports of unwrought aluminium and aluminium products fell slightly on a year-on-year basis in September while...Read More
China's domestic rebar prices dipped on Tuesday October 13 due to a drop in demand amid a weakening of the futures market.DomesticEastern China (Shanghai): 3,710-3,740 yuan ($551-555) per tonne, down by 10 yuan per tonneBuyers cut their procurement rates during the day, having done some replenishment over last Friday and Monday.A trader said his customers were planning to wait out the spot market...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Tuesday October 13, while those on the Shanghai Futures Exchange were either unchanged or firmer, as were equities. Equities seem to be maneuvering for a United States democratic presidency and all the extra stimulus that might bring. But LME metals are not following equities this morning. Base metalsTh...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
Stainless steel sheet prices in the United States have again risen in line with higher surcharges, while demand levels increased and lead times extended, Fastmarkets understands.Fastmarkets' price assessments for stainless steel 304 cold-rolled sheet, fob mill US and for stainless steel 304L cold-rolled sheet, fob mill US rose to $127 per hundredweight and $129 per cwt respectively on Monday...Read More
Customs officials in southern China have impounded just under 10,000 tonnes of copper 'concentrates' after it turned out to be smelting waste, which is prohibited from entering the country.Customs inspectors at Fangchenggang, in Guangxi province in southern China, said the cargo was reported by a Shanghai-based company as copper concentrates - a feedstock used by copper smelters for making refined...Read More
Exelon (EXC), an S&P 100 stock moved above $41.54 resuming an intermediate uptrend.Pre-opening Comments for Wednesday October 14thU.S. equity index futures were mixed this morning. S&P 500 futures unchanged in pre-opening trade.Index futures were virtually unchanged following release of the September U.S. Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain...Read More