Seaborne iron ore prices fell on Tuesday August 17, with crude steel production cuts in China leading to thin trading and depressing market sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $160.75 per tonne, down $2.77 per tonne62% Fe low-alumina fines, cfr Qingdao: $161.65 per tonne, down $2.38 per tonne58% Fe fines high-grade premium, cfr Qingdao: $129.54 per t...Read More
Robust domestic prices in the Japanese steel scrap market were keeping prices for material from the East Asian country strong despite tepid demand from major importers, sources told Fastmarkets on Tuesday August 17.Japanese local scrap prices remain firmBuying interest for imported HS limited in ChinaTaiwan scrap import prices inch higher amid strong offers.JapanContinued robust demand in Japan's...Read More
Demand for steel rebar and billet remained limited in the United Arab Emirates in the week to Tuesday August 17, with prices already falling and some market participants expecting them to drop even further, sources told Fastmarkets.The lower prices for billet and rebar imports are expected to have a knock-on effect on the domestic market, where prices are also expected to decline because of weak d...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
A third trade union representing workers at Codelco's Andina copper mine has gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said.A third trade union representing workers at Codelco's Andina copper mine have gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said. Suplant joined Industrial Integration Labor...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
Prices for hot-rolled and cold-rolled steel coil imports into the United Arab Emirates and Saudi Arabia increased during the week ended Tuesday August 17, although demand was only moderate, sources told Fastmarkets.The reason for this level of demand, given the slow market last week, was the low levels of stock being held in the two countries, sources said.But buyers preferred to make small bookin...Read More
New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told Fastmarkets on Thursday August 12.The unit is located close to the country's main steel trade hub, S??o Francisco do Sul port, and on inauguration had capacity to process 14,000 tonne...Read More
Russia's Novolipetsk Steel (NLMK) has suspended operations at its No2 basic oxygen furnace (BOF) at Lipetsk, having identified the need for further repairs after ramping up operations following an accident at the site.On Monday August 9, an explosion at the No2 BOF unit caused the roof to ignite. And while no one was injured,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
South Korean lithium-ion battery manufacturer LG Energy Solution (LGES) has entered into an offtake agreement with Australian Mines Ltd for battery-grade nickel and cobalt materials produced by the latter.Under the agreement, the Korean company will have access to 71,000 tonnes of nickel and 7,000 tonnes of cobalt in the form of mixed hydroxide precipitate for six years starting from the end of 20...Read More
A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-June 2021.In brief Erdemir Group produced 4.503 million tonnes of crude steel over the half-year, equivalent to 23% of the national total. The group's earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 284.99% in January-June 2021, because of strong demand for steel in....Read More
Steel scrap prices in Mexico were mostly stable in the steelmaking regions of Bajio and Monterrey in the week ended Friday August 13, with buyers and sellers disputing whether to reduce prices.Price cuts for several grades of scrap were announced in the last two weeks by at least two steel producers, following a similar trend in international prices. Total price reductions could amount to 400-450...Read More
Turkish steel producers are continuing with deep-sea scrap purchases for September shipment, but at a slow pace, market participants told Fastmarkets on Tuesday August 17.A steel mill in the Izmir region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $449 per tonne cfr late on Monday August 16.The cargo was scheduled to be shipped in the second half...Read More
Imports of iron ore into the United States fell 80% month on month in May, when shipments from Brazil slowed to a trickle, according to data from the US Geological Survey (USGS).Iron ore imports totaled 95,000 tonnes in May compared with 482,000 tonnes in April and 345,000 tonnes in March. The total, however, was 21.79% higher than the 78,000 tonnes imported in the same month last year.Deliveries...Read More
Seaborne iron ore prices fell on Tuesday August 17, with crude steel production cuts in China leading to thin trading and depressing market sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $160.75 per tonne, down $2.77 per tonne62% Fe low-alumina fines, cfr Qingdao: $161.65 per tonne, down $2.38 per tonne58% Fe fines high-grade premium, cfr Qingdao: $129.54 per t...Read More
US-listed lithium producer Albemarle is in formal negotiations with the Albemarle Salar Workers Union in an attempt to end their strike, the company's spokesperson has told Fastmarkets.The strike by members of the trade union at the Salar de Atacama lithium facility in the north of Chile started on Wednesday August 11 and was still continuing this week.FESUMIN, a Chilean federation of miners who w...Read More
A spike in the US Dollar Index in the afternoon of Tuesday August 17 brought down the prices for all base metals except tin and lead by the 5pm close of trading on the London Metal Exchange, with copper and nickel down respectively by 2% and 1.6%.The dollar index hit an intraday high of 93.14 on Tuesday, the highest since Thursday last week, when it reached 93.19."We've had two days of macro uncer...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
Prices for hot-rolled and cold-rolled steel coil imports into the United Arab Emirates and Saudi Arabia increased during the week ended Tuesday August 17, although demand was only moderate, sources told Fastmarkets.The reason for this level of demand, given the slow market last week, was the low levels of stock being held in the two countries, sources said.But buyers preferred to make small bookin...Read More