China's ferrous scrap prices moved up sharply over the past week due to tight supply, eating into the profits of mills that operate electric-arc furnaces.Fastmarkets' price assessment for steel scrap heavy scrap domestic, delivered mill China was 2,480-2,560 yuan ($350-361) per tonne including value-added tax on Friday May 8, up by 70-150 yuan per tonne from 2,330-2,490 yuan last Thursday. Sources...Read More
Concerns about Brazilian iron ore supply resurfaced among market participants this past week due to expectations that exports of the product would be impeded by Covid-19-related lockdowns in the South American country and the rising number of infections.Sao Luis was the first major Brazilian city to enter lockdown this week. It is located in the country's northeastern state of...Read More
The market for pig iron exports from the Commonwealth of Independent States went up again during the week to Thursday May 7 on sales to the United States.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $287-292 per tonne on May 7, up from $280-289 per tonne last week.Sales of both Ukraine- and Russia-origin pig iron were done during t...Read More
The seaborne iron ore market witnessed large price increases on Friday May 8 amid high prices in swap contracts and a general upturn seen on commodities such as rebar and copper. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.60 per tonne, up $4.25 per tonne 62% Fe low-alumina fines, cfr Qingdao: $90.92 per tonne, up $4.68 per tonne 58% Fe fines high-grade premium, cfr Qingd...Read More
China's domestic rebar prices continued to strengthen on Friday May 8 on steady demand and rising futures. Domestic Eastern China (Shanghai): 3,500-3,540 yuan ($494-499) per tonne, up by 50 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,450-3,500 yuan per tonne, up by 60 yuan per tonne Contractors maintained their active procurement rates to meet their daily use, sources said....Read More
Prices in Southeast Asia's steel billet market climbed over the past week due to surging demand from Chinese importers, sources told Fastmarkets.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $370-375 per tonne on Friday May 8, up by $5 per tonne from $365-370 per tonne on May 6.Befor...Read More
Member mills of the China Iron & Steel Association (Cisa) raised their production rates in late April on steady demand and healthy profits, according to data released on Friday May 8.April 21-30 outputCrude steel: 2.01 million tonnes per day, up by 3.1%Finished steel: 2.04 million tpd, up...Read More
Automotive production in Brazil, Mexico and Argentina neared zero in April due to massive shutdowns stemming from the Covid-19 pandemic, affecting steel and scrap markets in each country.BrazilProduction in Brazil hit a record low of only 1,800 units, according to data released by national auto association Anfavea on Friday May 8, a decline of 99.3% from 267,600 units in April 2019."Carm...Read More
Rio Tinto is partnering on a project to develop a zero-emission bus made of aluminium, which will be tested in the Saguenay-Lac-Saint-Jean region of Quebec, Canada, next year. The bus, known as the Electrip, is fully electric and made with aluminium, Rio Tinto director of regional economic development Emmanuel Bergeron said, noting that it also offers greater accessibility for people with reduced...Read More
China produced 6.08 million tonnes of crude stainless steel in the first quarter of 2020, down by 9.04% from a year earlier, according to data released by the China Stainless Steel Council (CSSC) on Thursday May 7.Apparent consumption totaled 4.90 million tonnes in the first three months of this year, down by 806,100 tonnes or 14.12% from the same...Read More
Member mills of the China Iron & Steel Association (Cisa) raised their production rates in late April on steady demand and healthy profits, according to data released on Friday May 8.April 21-30 outputCrude steel: 2.01 million tonnes per day, up by 3.1%Finished steel: 2.04 million tpd, up...Read More
The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.European steel association Eurofer has lodged a complaint with the EC, alleging that HRC has been exported from Turkey at dumped prices."In April 2020, a new [anti-dumping] investigation was opened into HRC from Turkey," ArcelorMit...Read More
Import prices for flat-rolled steel into South America were steady to slightly higher during the past week, with market participants already reporting a slight recovery for some materials despite the bulk of negotiations for July shipment having yet to take place.Peru and Ecuador were still under a quarantine period aimed at preventing the spread of Covid-19, but were gradually expected...Read More
Prices for cold-rolled and galvanized sheet in the United States rose for the first time in two months in the immediate aftermath of price-increase announcements from domestic steel mills.Fastmarkets' price assessment for steel cold-rolled coil, fob mill US climbed to $34 per hundredweight ($680 per short ton) on Thursday May 7 from $32.50 per cwt on Thursday April 30.Fastmarkets' price assessment...Read More
Indian steel mills have increased hot-rolled coil exports, booking more than 200,000 tonnes to China and South East Asian countries over the past couple of days.One private-sector mill alone booked 125,000 tonnes of HRC to China, and two other private mills booked 50,000 tonnes each to China in addition to smaller shipments to South...Read More
Concerns about Brazilian iron ore supply resurfaced among market participants this past week due to expectations that exports of the product would be impeded by Covid-19-related lockdowns in the South American country and the rising number of infections.Sao Luis was the first major Brazilian city to enter lockdown this week. It is located in the country's northeastern state of...Read More
If ever there was a masterclass in the need to disaster-proof a supply chain, then the Covid-19 pandemic has provided a harsh reminder to the automotive sector that it's failing. It's a wake-up call for the industry, which, after a massive earthquake and tsunami hit Japan in March 2011, had vowed to end its "just in time" production philosophy and diversify its supply chain in orderto limit a repe...Read More
The sharp decline in emerging market currencies combined with a collapse in oil prices are providing a twin saving grace for many metals and mining companies during the Covid-19 pandemic. For producers of energy-intensive metals like aluminium, and in particular the low-cost ones, the benefit is even greater. It's an emerging trend that is starting to be reflected in the earnings of corporates in...Read More
The Covid-19 pandemic may well provide Freeport-McMoRan with a silver lining it had never expected. The US copper producer is discussing with the government of Indonesia what should be done with the planned smelter in the Gresik region in the province of East Java. It has been forced to delay the completion timeline of December 2023 for the plant, due both to Covid-19-related disruptions to the wo...Read More
Concerns about Brazilian iron ore supply resurfaced among market participants this past week due to expectations that exports of the product would be impeded by Covid-19-related lockdowns in the South American country and the rising number of infections.Sao Luis was the first major Brazilian city to enter lockdown this week. It is located in the country's northeastern state of...Read More