Glencore have signed an offtake agreement with Netherlands-based aluminium producer Aldel for up to 180,000 tonnes of aluminium this year and next, Aldel confirmed to Fastmarkets on May 18.Aldel currently produces 80,000 tonnes per year of aluminium products but plans to increase significantly in the next 12 months, the company said. Aldel informed customers that they had concluded the offtake agr...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
Lead-zinc producer Recylex Group filed for insolvency protection for its German subsidiaries and will consequently lose control of its German subgroup, the company said last week.Recylex, Europe's third-largest lead-smelting company through its 105,000-tonnes-per-year Weser-Metall smelter in Nordenham, Germany, cited the fall in zinc price caused by the disruptions of the Covid-19 pandemic as the...Read More
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 Monday May 18.Tata Steel Europe announced on Monday that Henrar will step down as chairman of the board of management of Tata Steel Nederlands on May 31 this year.His departure was agreed by mutual consent, a compa...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
Domestic prices for hot-rolled coil in Northern and Southern Europe dropped again during the week to Friday May 15 due to limited trading activity.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?411.88 ($445.45) per tonne on Friday May 15, down by ?,?8.95 per tonne week on week and down by ?,?51.45 per tonne month on month.Friday's index was calculated based on...Read More
China's domestic hot-rolled coil prices surged on Monday May 18 on production cuts in the country's steelmaking hub of Tangshan, which motivated exporters to raise their offers.DomesticEastern China (Shanghai): 3,520-3,550 yuan ($496-500) per tonne, up 90-100 yuan per tonneNorthern China (Tangshan): 3,520 yuan per tonne, up 100 yuan per tonneSellers in Shanghai offered cargoes at 3,520 yuan per to...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
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
Brazil-based miner Vale has resumed operations at its Teluk Rubiah Maritime Terminal (TRMT), a distribution center in Malaysia, with maintenance work complete and health protocols being enforced to prevent the Covid-19 infection from spreading among workers.The action will not affect Vale's iron ore production guidance for 2020, currently at 310-330 million tonnes, the company said on Monday May 1...Read More
Seaborne iron ore prices continued to gain ground on Monday May 18, after a rise in steel prices over the preceding weekend.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $96.84 per tonne, up by $3.19 per tonne.62% Fe low-alumina fines, cfr Qingdao: $99.53 per tonne, up by $3.20 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $82.56 per tonne, up by $2.93 per tonne.65% Fe Brazil-or...Read More
Seaborne coking coal prices rose slightly on Monday May 18, though most market participants maintained that premium hard coking coal prices would be stable, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $116.31 per tonne, up $0.62 per tonne Premium hard coking coal, cfr Jingtang: $124.10 per tonne, up $0.85 per tonneHard coking coal, fob DBCT: $89.68 per tonne, up $1.12 per t...Read More
Turkish producers continued to book scrap cargoes despite weakening steel demand in the country, while Asian markets registered modest gains over the working week ended Friday May 15.Turkish mills book seven scrap cargoesUS scrap export market expecting dip in Turkish marketVietnam enters market for Japanese and US scrap Taiwanese prices remain rangebound Indian sentiment improves slightly on retu...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
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday May 15.China A firm domestic price, despite sluggish overseas demand, is supporting the price increase as well as higher offers in the market. The domestic supply of silicon grade-553 is very tight. Hoshine's silicon plant in Xinjiang is only operating at one third of its capacity. Many plants...Read More
Donna Vareha-Walsh, director of sales and global supply chain for Indium Corp, has been elected to serve as vice chair of the Minor Metals Trade Association (MMTA) and take over as chair in April 2021.As vice chair, Vareha-Walsh will work closely with current chairman Simon Boon, and assume his position in April 2021 following the MMTA annual conference in Charleston, United States.Boon has been i...Read More
Key data from Fastmarkets' pricing session in Europe in the week to Friday May 15.Key drivers Antimony prices continue to fall on sluggish demand and limited inquiries, with some traders in Rotterdam cutting offers to secure sales. Major producer Shan Twinkling Star's production suspension had fueled recent gains...Read More