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
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
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
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
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
Domestic prices for steel rebar in Russia's Central Federal District around Moscow narrowed upward by 2,000 roubles ($27) per tonne in the seven days to Monday August 16.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 66,000 roubles ($900) per tonne including 20% value-added tax on August 16.This price narrowed upward from 64,000-66,000 roubles pe...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
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
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
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
Hot-rolled coil trading activity in the European market remained limited on Tuesday August 17 due to the seasonal slowdown, sources told Fastmarkets.Most of the region's buyers and producers have been holding back from trading during August; activity is not expected to revive until early September, following the traditional cycle.Northern European buyers have already started to slowly return to th...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
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
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 summary of China-headquartered Huayou Cobalt's results for the six months ended June 30, 2021, as released by the company on Monday August 16.January-June 2021 results(year-on-year change)Revenue 14.29 billion yuan ($2.21 billion), up by 57.91%Net profit 1.42 billion yuan,...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
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
Operations have been temporarily halted in Alashankou Port in Bortala Mongol autonomous prefecture, Northwest China's Xinjiang Uygur autonomous region, following reports of three new COVID-19 cases in the region on August 15.Commodities that have already arrived there, including copper cathodes, copper concentrates, refined zinc and zinc concentrates, are being held, and deliveries will be delayed...Read More