Brazilian flat steel producer Usiminas has restarted its No1 blast furnace (BF) in Ipatinga city, in the country's southeastern Minas Gerais state, it said on Wednesday August 26. Usiminas has resumed activities at the blast furnace and its No1 steelworks at the mill, both halted in April because of the impact of the Covid-19 pandemic on the Brazilian economy. "The rebound of the Brazilian economy...Read More
Steel mesh-quality wire rod prices went up over the past week on good demand, while bullish suppliers seem intent on further price increase in September citing higher feedstock costs and demand growth, Fastmarkets heard on August 26.Southern EuropeFastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe increased to ?,?440-450 ($519-531) per...Read More
The price of steel H-beams in Europe inched up on Wednesday August 26 with producers pushing ahead with previously announced increases, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-565 ($632-668) per tonne on Wednesday, up from ?,?530-560 per tonne one week before.Market participants have slowly started to return to wor...Read More
The Turkish steel producers have continued their deep-sea scrap purchases for late September and October shipments, with prices becoming firmer, sources said on Wednesday August 26.After booking three deep-sea cargoes earlier this week, three more transactions were heard on Wednesday.A steel mill in the Izmir region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 15,000 tonne...Read More
Seaborne iron ore prices rose on Wednesday August 26 amid strong interest from steelmakers for high- and low-grade iron ore fines, trader sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.20 per tonne, up $1.22 per tonne 62% Fe low-alumina fines, cfr Qingdao: $123.65 per tonne, up $2.45 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.97 per tonne, u...Read More
The seaborne premium hard coking coal fob index continued yesterday's uptrend, with a transaction of premium hard coking coal concluded on Wednesday August 26 while in the cfr market, seaborne prices remained flat due to low liquidity, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.91 per tonne, up $1.50 per tonne Premium hard coking coal, cfr Jingtang: $114.77 per tonne,...Read More
Zinc premiums in China and the United States were flat in the week to Tuesday August 25, with US zinc market participants reporting an increase in spot demand after months, sources said.US spot demand for special high grade (SHG) zinc improves after months of thin demandShanghai zinc premiums were steady, although market participants anticipate a near-term riseSoutheast Asia premiums at all-time l...Read More
China's domestic rebar prices were stable on Wednesday August 26, but demand in some regions decreased as a result of Typhoon Bavi,Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($527-531) per tonne, unchangedThe northern part of Zhejiang province as well as Shandong province further north experienced rain during the day that was attributed to Typhoon Bavi, which is forecast to make landfall...Read More
The LME three-month nickel price hit a year-to-date high in the morning session on Wednesday August 26, up 1% from the previous day's close, and at its highest level since November 2019, at $15,140 per tonne. London Metal Exchange nickel futures were supported by the fresh cancelation of 444 tonnes as of 9am this morning. A 378-tonne outflow of material - 354 tonnes from D...Read More
Alvance Aluminium has achieved ASI 'Performance Standard' certification for its smelting and casting operations in Dunkerque, France, the Aluminium Stewardship Initiative (ASI) announced on Wednesday August 26. Part of the GFG Alliance's aluminium division, the Dunkerque plant - which produces slab and ingot through the electrolysis of alumina - has been successfully certi...Read More
A wide contango in London Metal Exchange spreads supported aluminium premiums across the globe in the week ended Tuesday August 25, with only the premiums in Shanghai bucking the trend.Rotterdam duty-unpaid premium at highest since MarchRestocking drives up premiums in BrazilImproved sentiment in JapanUS Midwest premium holds firmShanghai arb window closes.Tight supply, wide contango spur Rotterda...Read More
Key data from Fastmarkets' pricing session in London on Wednesday August 26.Key drivers: Alloy-grade cobalt traded at a premium to standard-grade with material in tight hands. Prices for both grades were well underpinned despite thinner liquidity compared with the beginning of August. Substantial spot volumes changed...Read More
Cobalt intermediates shipments to China leapt by 84.7% month on month in July and local futures prices responded by plummeting on Tuesday August 25 after the data was released. China imported 28,087 tonnes of cobalt intermediates, which are mostly comprised of cobalt hydroxide - a key feedstock for cobalt refineries - in July, up from 15,206 tonnes in June, and also 9.2% higher year on year, accor...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt alloy grade,...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt...Read More
China's imports of manganese ore totaled approximately 2.95 million tonnes in July, an increase of 35.2% from 2.18 million tonnes in June and the highest volume in a single month since December 2019, according to the latest available Chinese customs data. But July's volume is about 4.5% lower than the 3.09 million tonnes imported in the same month of 2019, the data showed. Of the total volume impo...Read More
The European Commission (EC) has started an expiry review of anti-dumping measures on imports of cold-rolled flat stainless steel from China and Taiwan.The request for an expiry review was lodged by the European steel association Eurofer on May 27 this year."The request is based on the grounds that the expiry of the measures would be likely to result in continuation or recurrence...Read More
Starbucks (SBUX), an S&P 100 stock moved above $83.17 extending an intermediate uptrend. Expedia (EXPE), a NASDAQ 100 stock moved above $97.59 extending an intermediate uptrend. Pre-opening Comments for Thursday August 27thIndex futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade. Traders are waiting for Federal Reserve Chairman Jerome Powell's add...Read More
(Adds comment from Vale) By Sabrina Valle and Luciano Costa SAO PAULO, Aug 26 (Reuters) - Authorities from Brazil'sMinas Gerais state are seeking a freeze on nearly $5 billion inassets from miner Vale SA as a partial payment tocover economic and other damages from last year's deadlyBrumadinho dam disaster. In a statement on Wednesday, state and federal prosecutorsin Minas Gerais said they had sent...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 25 that are worth another look.Mexican steel scrap prices increased in the week ended Friday August 21, maintaining an uptrend started in late July, with the country's manufacturing sector continuing to recover gradually from the Covid-19 pandemic...Read More