The European Commission has extended existing anti-dumping measures applied to corrosion resistant steels from China to imports of certain slightly modified corrosion resistant steel products, it said on Tuesday August 4. The EC started an investigation concerning a possible circumvention of existing anti-dumping measures, and made such imports subject to registration in November last year. The EC...Read More
Bangladeshi steelmaker SS Steel has purchased competitor producer Saleh Steel in a deal worth 247 million taka ($2.86 million), according to a filing to the Dhaka Stock Exchange. The deal, which was first made public on Tuesday August 4, sees SS Steel take 99% of the shares in Saleh Steel Industries Ltd. SS Steel has pledged to invest a further 1.34 billion taka toward the "smooth running" of the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 5 that are worth another look....Read More
An overview of the minor metals markets and their latest price moves.Read More
The three-month nickel price on the London Metal Exchange was pushed higher at the close of trading on Wednesday August 5 by a flurry of panic-buying against the monthly options expiry deadline, while zinc notched its highest close since January. Nickel's outright price on the LME closed at $14,419 per tonne on Wednesday afternoon, its highest close of the year while trading volumes were the highe...Read More
Domestic transaction prices in Italy for heavy steel plate have moved further upward because of rising slab costs, sources told Fastmarkets on Wednesday August 5.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?450-470 ($530-553) per tonne on August 5, up by ?,?5-20 per tonne week on week from ?,?445-450 per tonne.The assessment was based on the la...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 5 that are worth another look....Read More
Three experienced mining leaders give valuable insights into decision-making and seizing opportunities during a global crisis.Faced with the Covid-19 pandemic, mining executives are being forced to take swift action and make tough decisions as prices fall, economies contract and demand in key consuming industries declines. Three leading mining industry executives told Andrea Hotter about their res...Read More
After struggling throughout 2019 amid fierce competition from abroad, Chinese ferro-silicon exporters appear to be facing an even greater challenge this year. Global steel production shrank in the first half of 2020 amid the damaging economic and social effects of the Covid-19 pandemic, in turn dampening demand for ferro-silicon alloys.China, the world's largest ferro-silicon producer, exported 16...Read More
The three-month nickel price on the London Metal Exchange was pushed higher at the close of trading on Wednesday August 5 by a flurry of panic-buying against the monthly options expiry deadline, while zinc notched its highest close since January. Nickel's outright price on the LME closed at $14,419 per tonne on Wednesday afternoon, its highest close of the year while trading volumes were the highe...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 8.Please click...Read More
Seaborne prices across the board remained relatively flat on Wednesday August 5, with few transactions while most market participants were in wait-and-see mode, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.01 per tonne, down $0.39 per tonne Premium hard coking coal, cfr Jingtang: $116.30 per tonne, down $0.08 per tonneHard coking coal, fob DBCT: $88.77 per tonne, down $...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 8.Please click...Read More
Prices for domestic cold-rolled coil in Southern Europe increased over the week to Wednesday August 5, but remained unchanged in the North of the region, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe, was ?,?480-490 ($565-577) per tonne on August 5, up by ?,?10 per tonne week on week from ?,?470-480 per tonne on July 29...Read More
Key data from the Wednesday August 5 pricing session in Shanghai.Key drivers The front-month aluminium contract on the Shanghai Futures Exchange closed at 14,920 yuan ($2,138) per tonne on Tuesday, the highest since July 13 when the contract reached a three-and-and-half-year high of 15,185 yuan per tonne.The London Metal Exchange three-month daily official aluminium price rose to $1,748.50 per ton...Read More
Global aluminium premiums were supported amid continued LME spreads in contango with premiums in Rotterdam and the United States hitting a four-month high during the week to Tuesday August 5, while improved demand also strengthened the main Japanese ports (MJP) premium level.Rotterdam premiums rise to four-month highs; premiums in other European regions also increaseUS Midwest premium touches four...Read More
The traditional summer shutdowns kept global nickel premiums static in the week to Tuesday August 4, while Chinese steelmakers' preference for nickel pig iron and a closed arbitrage further dampened demand in Asia. Lack of import appetite leaves China premiums static. US premiums unchanged amid lackluster spot trade. European market out for summer, keeping premiums flat. Chinese import...Read More
Premiums for copper cathode in Shanghai continued their slide this week, and are now at one-and-a-half-month lows. Demand globally remains sluggish while seasonally weak summer buying is being compounded by concerns over extended recessions due to the Covid-19 pandemic.Shanghai copper premiums drop after stocks rise.Rotterdam premium stable amid low spot appetite, summer closures.US premium flat,...Read More
The three-month prices of base metals traded on the London Metal Exchange were up during the morning session on Wednesday August 5, buoyed by expansionary global manufacturing data, which has given renewed hopes of stronger metals demand. China's Caixin services purchasing managers' index (PMI) remains over 50, indicating expansion, despite dropping to 54.1 in July from 58 previously while the JP...Read More
Latin American steel group Ternium has reported earnings before interest, taxes, depreciation and amortization (Ebitda) of only $223.90 million in the second quarter of 2020, on lower shipments to Mexico and Argentina, partially offset by a reduction in costs.This compared with Ebitda of $302.10 million in the first quarter and $404.60 million in the second quarter of 2019.In brief: Steel shipment...Read More