European hot-rolled coil producers have been under severe pressure from subdued demand and high raw materials costs, sources told Fastmarkets on Wednesday June 10.Market activity has been low due to a combination of well-stocked distributors and a lack demand from end users, including those in the automotive industry."Most automotive subcontractors have enough to do at the moment as carmakers have...Read More
Workers of Tata Steel Netherlands started industrial action after their ultimatum expired and the company's management failed to reach consensus with their workers' representatives, trade union FNV Metaal said on Wednesday June 10. Workers at the ore preparations of Tata Steel's Dutch asset in IJmiuden left their work at 2pm today local time, stating that Tata Steel failed to comply with their dem...Read More
High offers for steel plate issued by mills in China have led exporters in the country to seek out cargoes from other countries such as India and South Korea to sell elsewhere.Fastmarkets' price assessment for July/August shipments of steel heavy plate export, fob China main port was $470-480 per tonne for the week ended Tuesday June 9, up by $10 per tonne from $460-470 per tonne a week earlier.An...Read More
The price for steel H-beams in Europe was unchanged on Wednesday June 10 in a stable market, while a change in market direction could be possible when monthly scrap prices are settled, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?530-550 ($599-622) per tonne on Wednesday, flat week on week."Prices are unchanged. With...Read More
The European steel mesh-quality wire rod market has been quiet this week ahead of new steel scrap settlements, with prices diverging from region to region, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?420-440 ($475-497) per tonne on Wednesday June 10, stable over the week.ItalyThe "workable" price for wi...Read More
Prices of hollow steel sections in Europe fell slightly on Wednesday June 10, with stocks at mills increasing because they are trading less than they produce, sources told Fastmarkets. Fastmarkets assessed steel sections (medium), domestic, delivered Northern Europe at ?,?550-560 ($622-633) per tonne on Wednesday, narrowing downward from ?,?550-570 per tonne a week earlier.One distributor fears th...Read More
Japanese steel scrap prices have jumped again over the past week amid tightening supply but buyers are unwilling to accept the fresh price increases, market sources told Fastmarkets on Wednesday June 10.Tight supply of H2 heavy scrap has resulted in further increases in scrap buying prices at Japanese mills over the past week, together with a sharp rise in sales prices at the Kanto Tetsugen auctio...Read More
An expected shortfall in Brazilian supply of high-grade iron ore will likely result in 2020 becoming a boom year for Australian miners.While Brazilian miner Vale, a key producer of high-grade iron ore fines and pellets, is maintaining its production guidance despite a suspension of operations at its Itabira mining complex, many market participants in Asia are expecting a shortage of Brazil-origin...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 10 that are worth another look.US sanctions against Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary, E-Sail Shipping Co, are unlikely to have an impact on steel freight costs, sources told Fastmarkets on June 10.Carmakers Volkswagen AG and Ford Motor Company have signed agreements that stren...Read More
US sanctions against Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary, E-Sail Shipping Co, are unlikely to have an impact on steel freight costs, sources told Fastmarkets on Wednesday June 10.The US Treasury Department 8 designated 121 tankers, container ships and other vessels owned or tied to Iranian shipper IRISL for additional secondary sanctions, which came in...Read More
US sanctions against Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary, E-Sail Shipping Co, are unlikely to have an impact on steel freight costs, sources told Fastmarkets on Wednesday June 10.The US Treasury Department 8 designated 121 tankers, container ships and other vessels owned or tied to Iranian shipper IRISL for additional secondary sanctions, which came in...Read More
Workers of Tata Steel Netherlands started industrial action after their ultimatum expired and the company's management failed to reach consensus with their workers' representatives, trade union FNV Metaal said on Wednesday June 10. Workers at the ore preparations of Tata Steel's Dutch asset in IJmiuden left their work at 2pm today local time, stating that Tata Steel failed to comply with their dem...Read More
An expected shortfall in Brazilian supply of high-grade iron ore will likely result in 2020 becoming a boom year for Australian miners.While Brazilian miner Vale, a key producer of high-grade iron ore fines and pellets, is maintaining its production guidance despite a suspension of operations at its Itabira mining complex, many market participants in Asia are expecting a shortage of Brazil-origin...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 10 that are worth another look.US sanctions against Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary, E-Sail Shipping Co, are unlikely to have an impact on steel freight costs, sources told Fastmarkets on June 10.Carmakers Volkswagen AG and Ford Motor Company have signed agreements that stren...Read More
Fastmarkets has corrected its manganese 99.7% electrolytic manganese flake, in-whs Rotterdam price, which was published incorrectly on Wednesday June 10 due to an error.Fastmarkets' weekly price assessment for manganese 99.7% electrolytic manganese flake, in-whs Rotterdam was originally published at $1,500-1,600 per tonne on June 10. This has now been corrected to $1,550-1,600 per tonne.Fastmarket...Read More
Just over a year ago, US Section 232 tariffs against imports of aluminium from Canada were removed. Now there are calls to reintroduce them.The American Primary Aluminum Association (APAA), which represents US producers Century Aluminum and Magnitude 7, says that Canadian imports have "surged" since the tariffs were removed and are threatening the viability of the US primary aluminium industry.&nb...Read More
Join members of Fastmarkets' editorial team as they discuss post Covid-19 opportunities in minor metals with industry experts. Click here to register for the two-part webinar.Part 1: Opportunities in minor metals post Covid-19Tuesday June 16, 1pm London timePanel discussion with Donna Vareha-Walsh (Indium Corp), Sean Fuller (Vital Materials), Suzannah Lipmann (Lipmann Walton & Co) and Dharam Kotec...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 10 that are worth another look.US sanctions against Islamic Republic of Iran Shipping Lines (IRISL) and its Shanghai-based subsidiary, E-Sail Shipping Co, are unlikely to have an impact on steel freight costs, sources told Fastmarkets on June 10.Carmakers Volkswagen AG and Ford Motor Company have signed agreements that stren...Read More
Just over a year ago, US Section 232 tariffs against imports of aluminium from Canada were removed. Now there are calls to reintroduce them.The American Primary Aluminum Association (APAA), which represents US producers Century Aluminum and Magnitude 7, says that Canadian imports have "surged" since the tariffs were removed and are threatening the viability of the US primary aluminium industry.&nb...Read More
An expected shortfall in Brazilian supply of high-grade iron ore will likely result in 2020 becoming a boom year for Australian miners.While Brazilian miner Vale, a key producer of high-grade iron ore fines and pellets, is maintaining its production guidance despite a suspension of operations at its Itabira mining complex, many market participants in Asia are expecting a shortage of Brazil-origin...Read More