Spot cobalt hydroxide payables came off their recent highs during the second half of last week with consumers having completed the bulk of their recent restocking drive. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China stood at 65-66.5% of the standard-grade metal price (low-end) on Friday June 5, narrowing downward from 65-67% on June 3."Everyone is taking a pause to take th...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
Domestic prices for hot-rolled coil in Europe continued to slide during the week to Friday June 5 amid low demand.Fastmarkets' daily steel HRC index, domestic, exw Northern Europe was calculated at ?,?398.75 ($450.26) per tonne on Friday, down by ?,?1.96 per tonne week on week and by ?,?24.25 per tonne month on month.Friday's index was calculated based on deals and workable prices heard at ?,...Read More
Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6. ArcelorMittal presented a new industrial plan to the Italian authorities last week that included 5,000 job cuts, market sources told Fastmarkets. In early March this year, before the Co...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
Retail prices for rebar decreased in Egypt, with market participants expecting producer prices to follow down and in line, sources told Fastmarkets on Monday June 8.Rebar is now sold at E ?9,200-9,750 ($566-599) per tonne including 14% VAT in retail market, narrowing downward from E ?9,200-10,100 per tonne, Egyptian traders informed Fastmarkets.On May 21, Egypt's...Read More
Prices for steel rebar in Russia's Central Federal District around Moscow stabilized over the past week, while trading activity remained modest, sources told Fastmarkets on Monday June 8.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT was at 31,500-32,000 roubles ($459-466) per tonne on Monday, same as last week.Buying was sti...Read More
The imported deep-sea scrap prices in Turkey have continued to move up with more deals heard in the market, sources said on Monday June 8.Turkish steel mills have been active in the deep-sea scrap markets for the past couple of weeks since the easing of Covid-19-related restrictions and improving domestic demand for steel products in Turkey.Three new scrap cargoes were heard late on Frid...Read More
Iron ore prices surged on Monday June 8 following Vale's suspension of its Itabira complex, despite its iron ore fines guidance being unchanged, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $105.67 per tonne, up $4.93 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.65 per tonne, up $5.41 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $94.53 per tonne, up $5....Read More
Exports of ferrous scrap from Japan jumped by 46.3% year on year in April amid strong demand from Vietnam and Taiwan, according to statistics from the East Asian nation's finance ministry. The country exported a total of 903,016 tonnes of scrap in that month, compared with 617,333 tonnes a year earlier.April's exports are the highest since May 2013; the country shipped 928,040 tonnes abroad in Apr...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
International trade protection measures continued to loom large over global steel markets over the past year - to which the impacts of the Covid-19 pandemic have created further challenges. Alongside Fastmarkets' annual ranking of steelmakers by output, our correspondents around the world review developments in their regional steel sectors Right now, most steelmakers will have much more on their m...Read More
China's rebar prices moved up in both the domestic and export markets on Monday June 8 amid rising concerns over iron ore supply from Brazil's Vale.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($512-516) per tonne, up by 30 yuan per tonneSpot rebar prices built on the early-hour gains of rebar and iron ore futures in response to news of Vale's Itabira mining operations being suspended towar...Read More
Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6. ArcelorMittal presented a new industrial plan to the Italian authorities last week that included 5,000 job cuts, market sources told Fastmarkets. In early March this year, before the Co...Read More
Honda and Nissan will restart operations at their respective UK facilities today following pandemic related shutdowns, the companies said on Monday June 8. Honda will restart production at its Swindon site over the week commencing June 8, where there will be a staggered return with all shifts returning. New safety measures will be introduced, including temperature checks, staggering of shifts and...Read More
Reviewed safeguard measures proposed by the European Commission (EC) disregard the sharp drop in European steel demand due to the Covid-19 pandemic, putting the industry at further risk, the chief executive officers of the EU steel industry and European steel association Eurofer said in a joint statement on Monday June 8."The European steel industry's survival is at further, serious risk because t...Read More
Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6. ArcelorMittal presented a new industrial plan to the Italian authorities last week that included 5,000 job cuts, market sources told Fastmarkets. In early March this year, before the Co...Read More
Honda and Nissan will restart operations at their respective UK facilities today following pandemic related shutdowns, the companies said on Monday June 8. Honda will restart production at its Swindon site over the week commencing June 8, where there will be a staggered return with all shifts returning. New safety measures will be introduced, including temperature checks, staggering of shifts and...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
China is leading the world in a V-shaped recovery from the aftermath of the Covid-19 pandemic, with other countries slower to recover but showing signs of green shoots, according to the chief financial officer of Alcoa. William Oplinger told the 11th annual Deutsche Bank Global Industrials and Materials summit that China's industrial production, vehicle production, commercial starts and food and d...Read More