Brazilian steelmaker Gerdau already plans to increase its domestic price for steel rebar by 6-8% in August, chief executive officer Gustavo Werneck told journalists in a press conference on Wednesday August 5.A previous increase of around 10% was already almost fully applied across June and July, according to the CEO. Stronger-than-expected demand from the construction sector and a discount over i...Read More
Domestic prices for hot-rolled coil have increased over the week to Wednesday August 5 in Northern and Southern Europe despite the seasonal market slowdown, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?414.17 ($487.64) per tonne on Wednesday August 5, up by ?,?1.67 per tonne day on day from ?,?412.50 per tonne on Tuesda...Read More
Hollow steel sections prices in Southern Europe moved up on Wednesday August 5 before the expected market slowdown for the summer, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-560 ($636-659) per tonne on Wednesday, unchanged week on week.Italian mills have been increasing their offer prices, even though mos...Read More
Iranian steel billet producers managed to achieve higher prices in the most recent round of sales, supported by the bullish mood in the global market and strong domestic demand.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $392-395 per tonne on Wednesday August 5, against $388-392 per tonne a week earlier.Market participants reported sales from mills to traders...Read More
The fossil-free steel initiative joint venture known as Hybrit - comprising SSAB, LKAB and Vattenfall - has completed successful trials of fossil-free fuels in the iron ore pellet process, it announced on Wednesday August 5.The companies reported that trials using fossil-free fuels at LKAB's pellet plant in Malmberget, Sweden, have shown that the first fossil-free iron ore pellets are within reach...Read More
The Turkish steel mills have continued their purchases of deep-sea ferrous scrap at steady prices, while suppliers in Europe were still struggling with the strength of the euro, sources said on Wednesday August 5.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of bonus and HMS 1 at an...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
Activity in the seaborne iron ore market fell flat on Wednesday August 5, with sources saying that trading eased off because of a lack of clear market information, which left prices stable.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $118.10 per tonne, up by $0.22 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.34 per tonne, up by $0.04 per tonne58% Fe fines high-grade premium, cfr...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
China's hot-rolled coil prices were largely stable on Wednesday August 5 in spite of reports of buyers in Vietnam paying higher prices for imports.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($582-583) per tonne, unchangedSeveral traders told Fastmarkets that domestic prices were stable on Wednesday amid moderate trading activity.The stability was attributed to buyers' expectations of weake...Read More
China's domestic rebar prices dropped slightly on Wednesday August 5 due to adverse weather weakening demand. Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($520-524) per tonne, down by 10 yuan per tonneParts of eastern China experienced wet weather due to Typhoon Hagupit, which affected demand for rebar from the construction sector.The most-traded October rebar futures contract also traded...Read More
The cobalt standard grade, in-whs Rotterdam 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 standard grade, in-whs Rotterdam at $14.35-14.80 per lb on Wednesday August 5, 2020....Read More
The cobalt alloy grade, in-whs Rotterdam 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 alloy grade, in-whs Rotterdam at $14.50-14.90 per lb...Read More
Key data from the pricing session in Europe on Wednesday August 5.Key drivers The ferro-titanium market remained stable for the third consecutive week. Ferro-titanium production has fallen in the UK with several suppliers operating below capacity. Sources do not expect output to pick up until there is increased liquidity, while some market participants report cautious optimism and...Read More
The local cobalt futures price in China leapt this week, resulting in higher quotations in the spot market, but weak downstream demand and resistance to rapid price hikes created a disconnect between physical and futures prices. The cobalt price on the Wuxi Stainless Steel Exchange (Wuxi) started to rise quickly at the beginning of this week after consolidating previous gains late in the prior wee...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday August 5. Key driversSome suppliers continued to raise offer prices with the intention of achieving deals at higher prices, citing limited spot cargoes at hand and high production costs.A number of consumers, however, remained wary of accepting higher prices, saying that the rise...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
A summary of Brazilian steelmaker Gerdau's financial results in the second quarter of 2020, as stated in its earnings report on Wednesday August 5.In brief Gerdau's crude steel output in Brazil decreased during the quarter following the stoppage in early April of the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, and some of its long rolling activities in the...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday August 6, but the complex was up by an average of 0.4%.Pre-market major western equity index futures and equities in Asian-Pacific markets were also mixed.* Western markets waiting for news on a stimulus package announcement by the United States this week, as well as Friday US employment report...* ...eit...Read More
Bristol-Myers (BMY) an S&P 100 stock moved above $60.68 resuming an intermediate uptrend. The stock responded to a favourable ruling on a patent for its blood thinner drug.UnitedHealth Group (UNH), a Dow Jones Industrial Average stock moved above $314.69 to an all-time high extending an intermediate uptrend. Western Digital (WDC), a NASDAQ 100 stock moved below $40.47 and $37.65 setting an int...Read More