Two separate strikes at ArcelorMittal steelworks in northern Spain have had little or no impact on output, the company said on Tuesday, July 21.Workers at ArcelorMittal Olaberria in the Basque Country region started industrial action on July 15 over a new collective labor agreement, with workers demanding "decent salary increases and pension fund retention," according to the LAB union.Arcelo...Read More
Sales of flat-rolled steel by Brazilian distributors showed a rapid recovery in June, with volumes up both month on month from May and from June 2019, according to data from national distributors' association Inda.Distributors sold 290,500 tonnes of flat steel in June, up by 17.4% from 247,500 tonnes a year before, Inda said on Tuesday July 21. This volume was also up by 38.5% compared with 209,80...Read More
Liberty Steel has restarted production on the pickling line at its Magona plant in Italy and is preparing to restart operations on the long-idle organic coating line No1, the company said on Tuesday July 21.The producer has also invested ?,?10 million ($11.44 million) in the facility, formerly known as ArcelorMittal Piombino."I'm delighted to celebrate the first steps in our transformation plan fo...Read More
Prices for domestic hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday July 21, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?407.67 ($466.36) per tonne on Tuesday July 21, up by just ?,?0.28 per tonne from ?,?407.39 per tonne on Monday July 20. Tuesday's...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, although demand was only moderate, sources told Fastmarkets on Tuesday July 21.Demand was subdued because of the upcoming Eid Al-Adha religious holiday at the end of July. But prices went up because of high offers.India stopped offering flat steel to the UAE toward the end of last week and UAE...Read More
Turkish steel mills took a break from deep-sea scrap purchases Tuesday July 21, but still expected to book more cargoes for August and September shipments, sources told Fastmarkets.The most recent booking was from the Baltic Sea region, sold on Monday July 20 at $265 per tonne cfr on HMS 1&2 (80:20) basis. This compared with the previous Baltic Sea cargoes sold at the end of last week...Read More
Seaborne iron ore prices increased on Tuesday July 21 after further concerns emerged over supplies from Brazil, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $111.43 per tonne, up $1.89 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $113 per tonne, up $1.56 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $100.36 per tonne, up $2.50 per...Read More
Fastmarkets' seaborne premium hard coking coal cfr China index continued to edge up slightly on Tuesday July 21 after the latest transaction saw it rebound further from last week's perceived 'bottom'.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.26 per tonne, down $0.09 per tonne Premium hard coking coal, cfr Jingtang: $119.47 per tonne, up $0.91 per tonneHard coking coal,...Read More
Vale's iron ore fines output fell by 7.1% year on year in the first half of 2020, but the company has maintained its 2020 production guidance at 310-330 million tonnes and will assume the lower end, it said on Monday July 20.The company's iron ore fines production came to 127.2 million tonnes in the January-June period, down from 136.9 million tonnes the year before, which it attributed to the eff...Read More
Fresh regulatory changes and government mandates are required to raise the consumption of scrap metal in India, according to members of the Material Recycling Association of India (MRAI).Demand for recycled materials must first increase to stimulate higher collection rates of scrap in India, Ekta Narain, director of business development at technology company Recykal, said in an MRAI webinar last w...Read More
A summary of BHP's production results for metallurgical coal and iron ore for its financial fourth-quarter ended June 30, 2020, as stated in its latest production report released on Tuesday July 21.In brief Metallurgical coal production for the company's 2020 financial year was down 3% year on year to 41.1 million tonnes due to significant wet weather events during the Ma...Read More
Trading activity in China's domestic hot-rolled coil market picked up on Tuesday July 21, with sentiment improving amid the country's economic recovery.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($558-560) per tonne, up 20 yuan per tonneSeveral Shanghai-based traders told Fastmarkets that trading activity in eastern China had risen during the day in comparison with Monday, with rising futu...Read More
China's domestic rebar prices increased on Tuesday July 21 on market participants' expectations of a drop in production.Domestic Eastern China (Shanghai): 3,580-3,600 yuan ($512-515) per tonne, up by 10-20 yuan per tonneSeveral rebar producers that operate electric-arc furnaces are either planning to perform maintenance or have already started doing so amid high prices for steel scrap, in an effor...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing...Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More
Ferroglobe has appointed Craig Arnold as its new chief commercial officer, effective immediately, in the second addition to its senior sales team this year of someone from a high-purity silicon background. "Mr. Arnold succeeds Jeff Watson, who chose to step down from his position to pursue other interests while being closer to his family in the United States," London-based Ferroglobe said on July...Read More
Total exports of non-ferrous scrap materials from the United States increased slightly month on month in May after the global economy started to reopen following Covid-19 pandemic-induced shutdowns.Non-ferrous exports totaled 206,857 tons in May, up by 1.4% from 204,044 tons in April but down by 23.3% from 269,571 tons in May 2019.Year-to-date volumes have fallen by 13.4% compared with January-May...Read More
Advanced Micro Devices (AMD), a NASDAQ 100 stock moved above $59.00 and $59.27 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Wednesday July 22ndU.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US74.50 cents following release of Canada's June Consumer P...Read More
(Updates with prices) By Zandi Shabalala LONDON, July 21 (Reuters) - Copper prices climbed oninvestor hopes for a recovery in metals demand and the globaleconomy after European Union leaders agreed a massive stimulusplan and positive news emerged about a coronavirus vaccinetrial. Three-month copper on the London Metal Exchange rose0.8% to $6,541 a tonne by 1617 GMT on Tuesday, close to the25-month...Read More
Here are five Fastmarkets stories you might have missed on Monday July 20 that are worth another look.Steel products output in Ukraine reduced by 4.6% year on year in January-June 2020 to 9.03 million tonnes, according to a report published by national steel union Ukrmetallurgprom on Thursday July 16.Brazilian copper and brass products manufacturer Termomecanica is set to take its internationaliza...Read More