Here are five Fastmarkets MB stories you might have missed on Monday June 28 that are worth another look....Read More
Tin was the best performer on the London Metal Exchange during trading on Monday June 28, while the rest of the complex was mixed at the start of the new week with particularly low volumes for copper's three-month contract. Tin's three-month price increased by 1.2% to $31,152 per tonne on Monday at the close from Friday's $30,774 per tonne price. The metal rose to as much as $31,220 per tonne dur...Read More
A Russian export tax on aluminium and other base metals levied to curb inflationary risk in the country has stirred expectations of further increases in an already bullish physical market.The Russian government approved temporary export duties Friday on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31....Read More
Flat steel market in Russia's Central Federal District in Moscow was broadly flat in the week to Monday June 28 with most producers preferred to roll over their price into July amid softer trading activity while buyers assessed the impact of recently introduced export duties on the domestic market. Russia on June 25 approved export duties on 340 metal products, including hot-rolled steel, effectiv...Read More
Finnish mining company Terrafame has announced that production has begun at its new battery chemicals plant in Soktamo, Finland, the company said on Monday June 28.Terrafame announced the ?,?240 ($286.44) million investment for the new plant in 2018, and have since worked on putting together the site's fully integrated production process - starting at the company's on-site mines and ending with pr...Read More
The domestic nickel pig iron (NPI) price rose in the week to Friday June 25 in an active spot market while the ferro-nickel price also went up due to a bullish stainless steel outlook, sources told Fastmarkets.Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,200-1,210 yuan ($185.50-187.10) per nickel unit on Friday, up by 15-25 yuan (1.7%)...Read More
A Russian export tax on aluminium and other base metals levied to curb inflationary risk in the country has stirred expectations of further increases in an already bullish physical market.The Russian government approved temporary export duties Friday on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31....Read More
Lithium iron phosphate batteries have recently regained their position as the preferred option among original equipment manufacturers in China, casting doubt on the forecast dominance of the alternative nickel-cobalt-manganese lithium-ion batteries in the country's electric vehicle battery supply chain.The situation has also raised questions about whether the change in sentiment would be mirrored...Read More
GFG Alliance and Liberty Steel's restructuring and transformation committee has announced its plans to restructure the group's steel businesses, the company said on Monday June 28."The developments [will] help to pave the way for a refinancing which will enable GFG [Alliance] to pay back creditors following the collapse of its main lender, Greensill Capital," the company said. "This in turn will a...Read More
Russia has approved temporary export duties on non-ferrous metals and steel products, including hot-rolled coil, which will come into effect on August 1 this year - and this will cause a spike in the country's HRC exports in July, market sources have told Fastmarkets.The country is the fourth-largest global steel exporter, but its government has set a base duty rate of 15% or $115 per tonne on HRC...Read More
Domestic prices for hot-rolled coil were rangebound on Monday June 28 after buyers held back from trading, sources told Fastmarkets. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,189.20 ($1,419.30) per tonne on Monday, down by just ?,?1.94 from ?,?1,191.14 per tonne on Friday. The index was, however, up by ?,?18.20 per tonne week on week a...Read More
Domestic prices for steel rebar in Russia's Central Federal district around Moscow rose in the week to June 28 on increased offers from local mills, sources told Fastmarkets.July offers from NLMK were heard at 72,500 ($1,004) roubles per tonne, up from 69,500 for June.Severstal was offering July-delivery rebar at 75,000 roubles per tonne cpt, sources said, unchanged from June.Tula Steel offered re...Read More
China's Hebei Iron & Steel Group (HBIS) and South Korea's Posco have signed a deal to establish a joint venture to produce automotive steel plate in China, according to a report from HBIS' official WeChat account published on Friday June 25. The planned new plant will have capacity to produce 900,000 tonnes per year of...Read More
Turkish steel producers made no deep-sea scrap bookings on the first day of the working week, but are expected to return to the market for August cargoes soon, market sources said on Monday June 28.The most recent deal was done on Thursday June 24, when a steel mill in the Izmir region booked a United States cargo at $499 per tonne cfr on heavy melting scrap 1&2 (80:20) basis and $519 per tonne cf...Read More
Iron ore prices increased on Monday June 28 even while market participants prepare for stricter restrictions on sintering, blast furnace operations and transportation of raw materials from June 29 to July 1 in certain areas in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $218.62 per tonne, up $2.17 per tonne 62% Fe low-alumina fines, cfr Qingdao: $220.77 per tonne, up $2.02 per t...Read More
Seaborne coking coal prices inched up in the cfr market on Monday June 28 on positive market sentiment following the bullish domestic coking coal market, while the fob market stayed largely stable to start the week. Fastmarkets indices Premium hard coking coal, fob DBCT: $183.82 per tonne, down $0.29 per tonne Premium hard coking coal, cfr Jingtang: $306.50 per tonne, up $2.36 per tonne Hard cokin...Read More
Seaborne iron ore concentrate and pellet prices fell in the week ended Friday June 25 due to a weaker demand outlook for steel, sources said. Fastmarkets iron ore indices Pellet premium over 65% Fe fines, cfr China: $62 per tonne, down $0.40 66% Fe concentrate, cfr Qingdao: $241.32 per tonne, down $1.31 65% Fe blast furnace pellet, cfr Qingdao: $300.81 per tonne, down $4.11 Key drivers Sentiment w...Read More
The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 billion rubles ($2.2...Read More
Hot-rolled coil prices in China's domestic market traded within a narrower range on Monday June 28, with talks of production curbs underpinning futures prices.DomesticEastern China (Shanghai): 5,400-5,450 yuan ($836-844) per tonne, narrowing upward by 20 yuan per tonne from 5,380-5,450 yuan.The most-traded HRC contract on the Shanghai Futures Exchange clawed back earlier losses to end the day slig...Read More
China's domestic rebar prices maintained their upward momentum on Monday June 28 on expectations of tighter supply, though demand was affected by rain across regions on the southern side of the Yangtze River.DomesticEastern China (Shanghai): 4,860-4,880 yuan ($752-755) per tonne, up by 10-20 yuan per tonneSteelmakers in China's steel hub of Tangshan in the northern region have been instructed to l...Read More