Prices for deep-sea bulk cargoes of ferrous scrap in Bangladesh have stayed largely flat over the past week amid a continued standoff between mills and suppliers, sources said on Thursday April 23.More stability in the Turkish import scrap market, a plunge in the price of crude oil and the continuation of Covid-19 pandemic lockdown restrictions in Bangladesh were three reasons highlighted by marke...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 23 that are worth another look.Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on April 23.South Africa is to end its nationwide lockdown and ease r...Read More
A summary of the first quarter production results for 2020 from British multinational mining company Anglo American, as stated in its latest production report released on Thursday April 23. In brief Anglo American recorded a 16% increase in production at the Collahuasi mine in Chile, offsetting the expected impact of water shortages at the Los Bronces mine, which sits 65 kilometers from the...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange are firmer this morning, Thursday April 23, but the price pullbacks in recent days have questioned the robustness of the earlier rebounds. Oil futures' dip into negative territory raised concerns, especially in financial markets, because it meant there was no longer a finite amount of risk in holding the commodity....Read More
The spread of the Covid-19 virus is forcing shutdowns and a reassessment of consumers' cobalt requirements. Prices of cobalt - metal, intermediates and salts - have so far taken a hit amid concerns of a general, global economic slowdown caused by the virus; a slower uptake in electric vehicle usage; and disrupted demand from the aerospace sector. But lockdowns aimed at limiting the spread of the v...Read More
European buyers of hot-rolled coil expected that domestic prices would slide due to the current poor demand, sources told Fastmarkets in Thursday April 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?447.00 ($484.68) per tonne on Thursday, up by only ?,?2 per tonne day on day from ?,?445.00 per tonne on April 22.Official offers have been heard at ?,?455-465...Read More
China's domestic hot-rolled coil prices were largely stable on Thursday April 23 despite falling futures. Some exporters have become more optimistic about overseas prospects amid reports of an easing of a lockdown in Vietnam to contain the Covid-19 virus.DomesticEastern China (Shanghai): 3,300-3,320 yuan ($466-469) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,240 yu...Read More
Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More
China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
The range of offers for rebar and wire rod exports from the Commonwealth of Independent States (CIS) region has widened so far in the second half of April.Rebar offers from the CIS have varied widely, but have stayed within the range of $380-410 per tonne fob Black Sea.Some mills are keeping their offers on the lower side to attract customers, while others - mainly from Russia,...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 23 that are worth another look.Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on April 23.South Africa is to end its nationwide lockdown and ease r...Read More
Turkish steel mills extended their absence from the deep-sea scrap markets due to a public holiday in the country on Thursday April 23, keeping any possible trading opportunities on hold.Thursday marked the National Sovereignty and Children's Day public holiday in Turkey, with most people in the country away from work. In addition to this, the country has imposed a lockdown from April 23 to April...Read More
Prices for deep-sea bulk cargoes of ferrous scrap in Bangladesh have stayed largely flat over the past week amid a continued standoff between mills and suppliers, sources said on Thursday April 23.More stability in the Turkish import scrap market, a plunge in the price of crude oil and the continuation of Covid-19 pandemic lockdown restrictions in Bangladesh were three reasons highlighted by marke...Read More
Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More
China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More
China's domestic and export prices for stainless steel moved up amid rising raw material costs.Rising nickel futures on the London Metal Exchange led to an increase in the prices for nickel pig iron, a major raw material for producing stainless steel in China, sources said. The three-month nickel contract on the London Metal Exchange ended the official trading session on Monday at $12,334 per tonn...Read More
Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on Thursday April 23.The company added that it is maintaining the production guidance for its Minas Rio operations in South America at 22-24 million tonnes, though the outloo...Read More
A summary of Tata Steel's provisional financial results for the fourth quarter and full year of its 2020 year ended March 31, 2020.In brief Steel demand has declined due to the Covid-19 pandemic in Europe with customers, including automotive producers, pausing production and utilization levels currently at 70%. Sales and production for the full year were down year on year, but...Read More
The Covid-19 pandemic could nudge Chinese steelmakers toward using more electric-arc furnaces (EAF) to produce steel, market sources say.This is especially due to the huge market uncertainty caused by the ongoing global economic crisis. EAF-based production could offer mills - most of which are still heavily reliant on blast furnaces (BFs) - the flexibility they need in such circumstances to reduc...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 23 that are worth another look.Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on April 23.South Africa is to end its nationwide lockdown and ease r...Read More