Here are five Fastmarkets stories you might have missed on Thursday July 29 that are worth another look.Industrial group Thyssenkrupp has agreed the sale of its mining business to Danish engineering company FLSmidth, the German company said on July 29.Former schoolteacher and union leader Pedro Castillo...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 31 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for June Personal Income was a drop of 0.2% versus a decline of 2.0% in May. Actual was an increase of 0.1%. Consensus for June Personal Spending was an increase of 0.7% versus a gain of 0...Read More
Former schoolteacher and union leader Pedro Castillo said it was not his intention to nationalize Peru's economy and pointed that the country needed a "new way of doing mining in its territory" in his inaugural speech as president on July 28. Castillo was elected Peru's new president after a contested second round of elections held in June. His left-wing party, Peru Libre, won 50.13% of valid vote...Read More
Aluminium delivery from northern China through central China remains restricted due to flooding in Hennan, with a section of the Longhai Line railway under repair, sources told Fastmarkets."Aluminium ingot in Northern China cannot be delivered to the south because they cannot pass through the Longhai line. So local areas can only consume current stocks... [aluminium] stocks in [the] Wuxi warehouse...Read More
Lundin Mining's copper production was down during the first half of the year because planned lower grades at its Chapada mine reduced its output.The company's profit in the first half was up by 160% at $835.2 million, boosted by higher gold, copper and zinc prices.In brief: At 120,811 tonnes, copper production was down...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 29 that are worth another look.Industrial group Thyssenkrupp has agreed the sale of its mining business to Danish engineering company FLSmidth, the German company said on July 29.Former schoolteacher and union leader Pedro Castillo...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Fleur...Read More
Summer maintenance work at steel mills was continuing across Japan but reduced generation volumes and strong prices paid by South Korea were continuing to support export scrap prices, sources told Fastmarkets on Wednesday July 28.On the lower-grade H2 material, reduced supply has been balanced by continued poor demand from Taiwan and Vietnam, sources said."I feel that the market is not so strong,...Read More
China's domestic sellers for hot-rolled coil kept prices stable on Wednesday July 28 due to stronger demand and exporters insisted on high offers ahead of the month end, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,880-5,900 yuan ($904-907) per tonne, unchangedThe weather was clear in Zhejiang and Shanghai, so demand and logistics resumed, supporting HRC prices.Demand in parts of J...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional's (CSN) adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) soared by 324.62% year on year due to higher steel and iron ore prices and sales volumes in the second quarter.In brief Sales of iron ore from CSN's mining division, CSN Minera????o, rose by 17.65% year on year during the quarter, to 9.11 mi...Read More
Turkish deep-sea scrap import prices fell sharply with the United States cargo deal announced on Wednesday July 28, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $475 per tonne, 25,000 tonnes of shredded and 15,000 tonnes of bonus at $495 per tonne cfr on July 23.This compares with the previous deep-sea trade recorded...Read More
The spot market for imported scrap into China remained quiet on Wednesday July 28 due to Japanese sellers offering cargoes at prices much higher than buyers' ideas of acceptable price levels, sources told Fastmarkets.Offers from Japan were heard at $600-615 per tonne cfr China on Wednesday. Offers remained strong because South Korean buyers have been paying competitive prices for Japanese heavy sc...Read More
Domestic prices for heavy steel plate in Italy moved down in the week ended Wednesday July 28 due to lower slab costs and competitive imports, sources have told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?950-970 ($1,122-1,145) per tonne on July 28, down by ?,?15-20 per tonne from ?,?970-985 per tonne on July 21.The assessment was based o...Read More
Domestic prices for hot-rolled coil in Europe remained fairly stable on Wednesday July 28 despite slow trading and pressure from cheap import offers to Southern Europe, sources told Fastmarkets.Demand has been weak due to the seasonal summer-holiday slowdown across the EU.In addition, the number of offers from European mills has been limited. Suppliers in Germany were reported to be holding back f...Read More
China's domestic and imported ferro-chrome prices were both boosted again in the week ended Tuesday July 27 after major stainless steel mills raised their August tender prices by 2,400 yuan ($369) per tonne from the previous month, to a level not seen in the past 13 years.Due to continuing supply interruptions and strong demand for material, Tsingshan announced its tender price for August-delivery...Read More
The main workers union at Escondida, the world's largest copper mine, has called on its members to reject BHP's last wage offer and vote for industrial action, the union said in a statement on July 28. "After analyzing the conditions of the last offer of Minera Escondida, controlled by Anglo-Australian BHP, it has been found that [the company] seeks to increase working times, decrease breaks, chan...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 28.Please click...Read More