Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
Following initial research and consultation with market participants, Fastmarkets proposes to launch a weekly price assessment for tantalum concentrate.The introduction of a price assessment for tantalite, basis 25% Ta2O5, ex-works China, will expand Fastmarkets' current price coverage of raw materials.Tantalum prices have found support in the past two months from supply tightness and concerns abo...Read More
Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
The deep-sea scrap import market in Turkey was quiet and prices stable on Monday May 18, with the country's major cities under lockdown due to the Covid-19 pandemic until Tuesday night, May 19, sources said.Overall demand for deep-sea scrap is slow because of both the pandemic and the Islamic holy month of Ramadan, when steel trade traditionally slows in Muslim countries. "Turkish steel mills are...Read More
Turkish domestic auto bundle scrap prices inched up over the past week following slightly better market demand, sources said on Monday May 18.Several steel mills in the Izmir region increased their buy prices for auto bundle scrap, while some mills have been resuming or increasing production after a break because of the Covid-19 outbreak, which also increased demand for scrap.Long steel mills IDC...Read More
While backward-looking economic data continues to show how deep the global contraction has been, markets seem focused on the recovery this morning, Monday May 18, as more economies open up and plan to reopen in the weeks ahead. The base metals on the London Metal Exchange are up across the board, all the base metals with the exception of July nickel are up on the Shanghai Futures Exchange and Asia...Read More
Cobalt hydroxide payables rose slightly late last week, with sellers receiving more inquiries, although a stand-off in negotiations saw limited spot trades concluded in the second half of the week. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, edged up to 62-64.5% of the standard-grade cobalt price on Friday May 15, compared with 62-64% at the midweek assessment. Some Chi...Read More
Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
German steelmaker Thyssenkrupp is seeking a partner to consolidate its loss-making steel business, sources told Fastmarkets on Monday May 18.The company was reported to have started negotiations with a number of companies over the sale of a share in its steel business.Thyssenkrupp neither confirmed nor denied this information."No further comment at this moment," a spokesperson for Thyssenkrupp sai...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved down again due to limited trading activity, sources told Fastmarkets on Monday May 18.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?410.00 ($443.42) per tonne on Monday, down by ?,?1.88 per tonne from ?,?411.88 per tonne on May 15.Monday's index was calculated based on "workable" prices and bi...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was stable to slightly lower week on week on Monday May 18 while buying started to recover slowly, sources told Fastmarkets.Trading activity in the steel rebar market in the region has started to improve slowly following the gradual restart of the key rebar consumption sector - the construction industry - last week."Some c...Read More
Rebar buyers in Singapore are expecting a slow start to trading in the spot market once the government starts to lift Covid-19 over the next few weeks.About 20,000 construction workers will resume work gradually at infrastructure projects deemed to be critical, or at sites that need work to continue for safety reasons, according to Singapore's Building and Construction Authority (BCA). They will j...Read More
China's steel rebar prices increased in both the domestic and export markets on Monday May 18 due to rising production costs, Fastmarkets was told.Domestic Eastern China (Shanghai): 3,530-3,560 yuan ($496-500) per tonne, up by 70 yuan per tonneRaw materials' prices moved up in the past two weeks, pushing up rebar mills' production costs and supporting rebar prices in the spot market, sources said....Read More
How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) expects to ship 32 million tonnes of iron ore in 2020, chief financial officer Marcelo Ribeiro said on Friday May 15.The company aims to increase its output rate through the remainder of the year, after heavy rainfall cut production in the first quarter. CSN changed its 2020 output guidance to include third-party purchases...Read More
The deep-sea scrap import market in Turkey was quiet and prices stable on Monday May 18, with the country's major cities under lockdown due to the Covid-19 pandemic until Tuesday night, May 19, sources said.Overall demand for deep-sea scrap is slow because of both the pandemic and the Islamic holy month of Ramadan, when steel trade traditionally slows in Muslim countries. "Turkish steel mills are...Read More
Prices in the export markets for CIS steel slab moved in differing directions in the week to Monday May 18, with a widening gap between workable prices in the traditional outlets such as Italy and Turkey and those possible in China, which has become an active slab importer recently.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $330-350 per tonne on May 18, wi...Read More
China's steel rebar prices increased in both the domestic and export markets on Monday May 18 due to rising production costs, Fastmarkets was told.Domestic Eastern China (Shanghai): 3,530-3,560 yuan ($496-500) per tonne, up by 70 yuan per tonneRaw materials' prices moved up in the past two weeks, pushing up rebar mills' production costs and supporting rebar prices in the spot market, sources said....Read More
Import prices for steel slab in Southeast Asia and East Asia surged over the past week on strong demand from Chinese importers, sources told Fastmarkets. Producers were mainly focused on selling their export allocations to Chinese import traders, who were willing to buy in larger quantities and at higher prices than other Asian customers, market participants said.Fastmarkets' price assessment for...Read More
The Indian silico-manganese export price range fell 6% last week after export sales have been declining since the start of May when suppliers pushed prices higher, in line with stronger manganese ore prices and after manganese alloys production was slashed in India, Fastmarkets heard. In Europe, high-carbon ferro-manganese and silico-manganese market prices also eased amid quiet spot activity and...Read More