Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...Read More
Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also runs assets in Europe and the United States, expects steel demand to show a double-digit drop in home markets in the second quarter of 2020 and for the full year, the company said on Thursday April 30."In Russia, we expect a double-digit decline in steel consumption in May and June, with potential recovery starting in July," chief e...Read More
The Egyptian parliament has this week requested the government add a 10% import duty on finished steel products to protect local steel production, Egyptian market sources told Fastmarkets.The government has not yet approved or rejected the proposal but, if accepted, flat steel producers will benefit from the new duties, sources said.Egypt already imposes a definitive safeguard duty of 16% of the c...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...Read More
Mexican scrap prices were stable or higher last week as low availability for some grades led to exceptional deals at increased prices, according to sources.Market participants reported that some scrap buyers had planned a 200 pesos ($8) price cut for last week, but by the end of the week such changes were not applied."In the whole month of April, buyers announced price cuts of around 1,000 pesos,...Read More
The Turkish deep-sea scrap import markets remained quiet with the mills seeking lower prices amid weak finished steel markets, sources said on Tuesday May 5.The most recent cargo deal was recorded on Friday May 1 when a steel mill in the Iskenderun region booked a European cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $236 per tonne cfr and 7,000 tonnes of bonus at $246 per tonne cfr, sendi...Read More
Some of the prices for steel billet and rebar in the United Arab Emirates decreased over the past week, with demand weak because of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, market sources said on Tuesday May 5.Authorities in the United Arab Emirates announced a curfew from 10pm until 6am local time for the Ramadan period, which started on April 23.Market participants in...Read More
Steel slab producers in the Commonwealth of Independent States have announced offer prices for June-rolling material for foreign customers, after successfully closing their May order books in recent weeks."We are in the market with June material, but are not offering it actively yet," a source at a Russian mill said.Offers of CIS-origin slab were heard in the market within the range of $335-340 pe...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...Read More
Kazakh company YDD Corp is targeting sales of ferro-silicon into North America this year, with the first shipments planned for next month, according to its output distributor on the project, Swiss trading house Helvetia Resources. YDD started cold commissioning three furnaces at its new Karaganda ferro-silicon operation in Kazakhstan at the end of 2018, with the aim of exporting ferro-silicon...Read More
The price spread for Europe-origin high-carbon ferro-chrome widened by a couple of cents per lb to $0.17 per lb in the week ended Friday May 1.This came after deals were reported at higher prices following the increase in the ferro-chrome and charge chrome benchmark for shipments in the second quarter of 2020. The gap was $0.20 per lb between the highest and lowest reported deal prices in the week...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
Car manufacturer Groupe PSA - maker of the Peugeot, Citroen, Opel and Vauxhall brands - has announced a "progressive and secured restart of Groupe PSA manufacturing sites."The restarts would be guided by the resumption of commercial activities, the company said on Monday May 4.Its various sites across Europe closed from March 18 because of the disruption affecting its majo...Read More
Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also runs assets in Europe and the United States, expects steel demand to show a double-digit drop in home markets in the second quarter of 2020 and for the full year, the company said on Thursday April 30."In Russia, we expect a double-digit decline in steel consumption in May and June, with potential recovery starting in July," chief e...Read More
The Egyptian parliament has this week requested the government add a 10% import duty on finished steel products to protect local steel production, Egyptian market sources told Fastmarkets.The government has not yet approved or rejected the proposal but, if accepted, flat steel producers will benefit from the new duties, sources said.Egypt already imposes a definitive safeguard duty of 16% of the c...Read More
A summary of the financial results of German metals distributor Kl??ckner & Co for the first quarter of 2020.In brief Continued weakness in the automotive, machinery and energy sectors, especially in Germany and the United States, weighed on Kl??ckner's results for the first quarter of 2020 Around 90% of Kl??ckner's branches are still operational, with the majority of closures in France&...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 5 that are worth another look.US President Donald Trump is threatening to abandon a preliminary trade deal leading to an easing of trade tensions with China, citing the Covid-19 virus.Employees at the Kroondal chrome mine in South Africa have been informed the facility will not restart after lockdown measures are relaxed b...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
A summary of base metals premiums from across the globe for the week to Tuesday May 5.Please click...Read More
Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also runs assets in Europe and the United States, expects steel demand to show a double-digit drop in home markets in the second quarter of 2020 and for the full year, the company said on Thursday April 30."In Russia, we expect a double-digit decline in steel consumption in May and June, with potential recovery starting in July," chief e...Read More