Robust demand for aluminium in China has supported the Shanghai Futures Exchange aluminium price into July and analysts expect it to maintain strength at least until the end of August. The SHFE front month aluminium contract soared to a three-and-a-half-year high of 15,185 yuan ($2,169) per tonne on Monday July 13, up 370 yuan per tonne from Friday's close at 14,815 yuan per tonne. The price...Read More
China's ferro-chrome market has been rising, with incremental increases in its annual output since 2015, and that momentum has extended despite the market being faced with a series of challenges in the first half of the year.This includes a wave of Covid-19-related production cuts and the supply disruptions to South Africa's chrome ore and while the market approaches the second half of 2020, the m...Read More
London Metal Exchange three-month base metals prices all closed down on Tuesday July 14 after a sell-off across US equities and weaker than expected Chinese data put a block on any upward price momentum. China trade balance data released earlier today was 329 billion for June against a forecast of 410 billion for the period and down from 443 billion in May.And US-China sentiment has become ev...Read More
Robust demand for aluminium in China has supported the Shanghai Futures Exchange aluminium price into July and analysts expect it to maintain strength at least until the end of August. The SHFE front month aluminium contract soared to a three-and-a-half-year high of 15,185 yuan ($2,169) per tonne on Monday July 13, up 370 yuan per tonne from Friday's close at 14,815 yuan per tonne. The price...Read More
Seaborne premium hard coking coal prices declined on Tuesday July 14 after several transactions were concluded at lower prices, with sources reporting a burst in trading over the day following inactivity last week. Fastmarkets indicesPremium hard coking coal, fob DBCT: $111.11 per tonne, down $1.38 per tonne Premium hard coking coal, cfr Jingtang: $121.57 per tonne, down $1.54 per tonneHard coking...Read More
Most steel scrap prices in Mexico fell during the week ended Friday July 10 amid slow demand, with the market affected by pessimism stemming from the monthly settlement in the United States.At least one scrap buyer has applied price cuts totaling 500 pesos ($22) per tonne since the end of June, while others have reduced prices by 300 pesos per tonne.Of the 10 grades of ferrous scrap tracked b...Read More
London Metal Exchange three-month base metals prices all closed down on Tuesday July 14 after a sell-off across US equities and weaker than expected Chinese data put a block on any upward price momentum. China trade balance data released earlier today was 329 billion for June against a forecast of 410 billion for the period and down from 443 billion in May.And US-China sentiment has become ev...Read More
Aluminium producer Vedanta is seeking an agent to market the company's aluminium products in Europe for 2021, sources close to the matter told Fastmarkets. Multiple sources confirmed to Fastmarkets a tender had been issued by Vedanta this week for the marketing rights for their products in Europe; it is understood the majority of this will be aluminium value-added products (VAP), such as billet an...Read More
Execution works at the copper-gold Serrote project, operated by Minera????o Vale Verde (MVV), have reached 60% completion and is planned to start production in the second half of 2021, MVV's parent company Appian Capital Advisory said on Tuesday July 14. The project is located in the Brazilian northeastern state of Alagoas, and has an expected production capacity of 20,000 tonnes per year of coppe...Read More
Robust demand for aluminium in China has supported the Shanghai Futures Exchange aluminium price into July and analysts expect it to maintain strength at least until the end of August. The SHFE front month aluminium contract soared to a three-and-a-half-year high of 15,185 yuan ($2,169) per tonne on Monday July 13, up 370 yuan per tonne from Friday's close at 14,815 yuan per tonne. The price...Read More
ArcelorMittal Dunkirk plans to restart production from a blast furnace (BF) that was idled in late March, when steel demand dropped due to the economic effects of the lockdown measures intended to control the spread of Covid-19.The steelmaker plans to restart operations at the Dunkirk BF in France in the middle of August this year, the company's spokesperson told Fastmarkets on Tuesday July 14.It...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Tuesday July 14, but steelmakers continue to push for price rises, sources told Fastmarkets. Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?403.00 ($456.87) per tonne on Tuesday July 14, down by just ?,?0.13 per tonne from ?,?403.13 per tonne on Monday. Tuesd...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Fastmarkets proposes to amend the specifications of its hot-dipped galvanized steel import price on a cfr South America basis to narrow the range of products included and better reflect the base-grade material traded in the region.Following discussions with market participants, Fastmarkets is proposing to narrow the thickness specification of its steel hot-dipped galvanized coil import, cfr main p...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly stable this week with demand being moderate, sources told Fastmarkets on Tuesday July 14.Demand was subdued because of the upcoming religious Eid Al-Adha holiday at the end of July.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $470 per tonne cfr, but buyers said that price was not work...Read More
Fastmarkets proposes to change the publication time of its Latin American steel price assessments to Friday at 2-3pm New York time from Friday 2-3pm London time.This proposal affects the following price assessments: Steel hot-rolled coil (dry) export, fob main port Latin America, $/tonne - MB-STE-0133 Steel hot-rolled coil import, cfr main ports South America, $/tonne - MB-STE-0102 ...Read More
Turkish steel producers have resumed their deep-sea scrap purchasing at slightly higher prices, sources said on Tuesday July 14.A steel producer in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 27,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.This compared with transactions for US material at...Read More
Polish coking coal miner Jastrzebska Sp??lka Weglowa (JSW), has reported a decline in second-quarter output and sales due to weakness in the steel industry caused by measures put in place to combat the Covid-19 pandemic.Slower demand for blast furnace coke across the EU due to Covid-19 has had a significant negative impact on JSW's results for the second quarter of 2020, the company said...Read More
Seaborne iron ore prices continued to rise on Tuesday July 14 but the bullish sentiment is cooling due to concerns over flooding in several parts of southern China, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $112.48 per tonne, up $1.39 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $114.26 per tonne, up $1.41 per tonne. 58% Fe fines high-grade premium, cfr...Read More