Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association said on Monday November 1.The US authorities made theannouncement, on Saturday October 30."We welcome the announcement of the agreement which could be the starting point of a ne...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Seaborne iron ore prices fell on Tuesday November 2 due to weak demand outlook caused by narrowing steel margins and ongoing sintering restrictions, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $95.77 per tonne, down $7.66 per tonne 62% Fe low-alumina fines, cfr Qingdao: $96.67 per tonne, down $7.99 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $67....Read More
Rebar and billet prices decreased slightly in the United Arab Emirates because some mills discounted their prices, sources told Fastmarkets on Tuesday November 2.Demand for rebar has improved week on week because prices have now been announced, sources added.Domestic rebarLocal rebar mills announced new prices on October 24.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne e...Read More
Seaborne coking coal prices were relatively stable on Tuesday November 2, with no trades heard in the market, although Chinese domestic coke prices in certain provinces started to fall due to rising inventories and reduced costs.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, unchangedHard coking coal, cfr Jingtang: $525.23 per tonne, unchangedPremium hard coking coal...Read More
Operations at Antamina, Peru's biggest copper mine, have been suspended since last weekend because of a roadblock manned by community protestors, according to a company statement.The statement by Compania Minera Antamina, published on Sunday October 31, stressed its commitment to public safety and clear communication. It said that it feared the possibility of "intolerable criminal offenses" and "c...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Continued declines in the Chinese steel billet market have caused many Southeast Asian buyers to shy away from importing the semi-finished product this week, sources told Fastmarkets on Tuesday November 2.Chinese billet import prices continued to crash on Monday and Tuesday, led by weakening ferrous futures markets across the Shanghai Futures Exchange (SHFE), together with growing volumes of iron...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Junior miner Lithium Americas has proposed a $400 million takeover for Argentina-based producer Millennial Lithium, outbidding China's battery maker Contemporary Amperex Technology (CATL).Millennial Lithium announced the new takeover offer from Lithium Americas on November 1.The Lithium Americas offer is a "Superior Proposal" to the one worth $304 million received by CATL in September, Millen...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Seaborne coking coal prices were relatively stable on Tuesday November 2, with no trades heard in the market, although Chinese domestic coke prices in certain provinces started to fall due to rising inventories and reduced costs.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, unchangedHard coking coal, cfr Jingtang: $525.23 per tonne, unchangedPremium hard coking coal...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board on Wednesday November 3, suggesting dips are once again finding support.The European Union’s manufacturing purchasing managers’ index (PMI) out on Tuesday at 58.3, while slightly weaker than September’s 58.5, still showed strong expansion, which will be helping to counter the slowd...Read More
Flat steel import markets in the United Arab Emirates and Saudi Arabia were slow during the week ended Tuesday November 2 because of uncertainty over the price direction, sources told Fastmarkets.The uncertainty was because of recent price decreases from China, which controls over 50% of the global steel market.On the other hand, strong local demand in the Indian market prompted buyers to expect p...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Investors are waiting for news at 2:00 PM EDT from the Federal Reserve on interest rates and tapering of its bond purchases.Index futures were virtually unchanged following release of the October ADP Employment Report at 8:15 AM EDT. Consensus was a gain of 395,000 versus an increase of...Read More
Sentiment in the European hot-rolled coil market was largely bullish on Tuesday November 2, supported by a slight recovery in demand amid news of an agreement between the US and the EU on Section 232 tariffs, sources told Fastmarkets.On October 30, the European Union and the United States agreed to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quo...Read More
The CIS export slab market was quiet in the week to Monday November 1 because most mills were absent from the market.No fresh offers were heard from Russian suppliers in the Black Sea basin, while local sources reported that the country is on lockdown until November 7, reducing trading activity.In the Far East...Read More
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....Read More