Demand for slab originating from the Commonwealth of Independent States came from China only during the week to Monday April 6, as activity in other outlets was disrupted due to the effects of Covid-19 pandemic.A 40,000-tonne cargo of Russia-origin slab to be shipped from the port of Saint Petersburg was reported sold to China at $347 per tonne cfr. Another mill sold a 50,000-tonne cargo to the sa...Read More
Moon Iron and Steel (Misco) started production of billet at its facility in Sohar, Oman in the week starting March 30, sources close to the company told Fastmarkets.Misco has an electric arc furnace, ladle furnace and a five-strand continuous billet caster with a production capacity of 1.2 million tonnes per year.The company will also...Read More
Prices in the major global steel billet markets continued to soften in the week to Friday April 3 due to the effects of the Covid-19 pandemic.Lack of demand for finished steel products, together with continuing uncertainty about how long the disruptions will last, were the major reasons for the negative sentiment.Even in China, which has been one of the main billet buyers recently, demand was expe...Read More
Here are five Fastmarkets stories you might have missed on Monday April 6 that are worth another look.Italian stainless steelmaker Acciai Speciali Terni (AST) has resumed production, following a week of downtime in response to the coronavirus pandemic, sources told Fastmarkets on April 6.The Covid-19 pandemic may have just sealed the fate of already-struggling aluminium smelting capacity.Chile's s...Read More
The European high-carbon ferro-chrome market cemented its recovery over the past week, with industry sources reporting higher spot prices amid supply worries from South Africa and India, both of which are on multi-week lockdowns. The low-phosphorous price also ticked up week on week, as did Turkish lumpy chrome ore, while the UG2 index to China remained flat. Sources attributed the price rises to...Read More
Vehicle production in Brazil fell by 21.1% year on year in March due to lockdowns introduced to contain the Covid-19 pandemic in the last 15 days of the month, car manufacturer association Anfavea said on Monday April 6. Output was 189,958 units during the month, compared with 240,763 units a year before. Production also fell by 7% in comparison with February data, which was 204,200 units. Over th...Read More
Moon Iron and Steel (Misco) started production of billet at its facility in Sohar, Oman in the week starting March 30, sources close to the company told Fastmarkets.Misco has an electric arc furnace, ladle furnace and a five-strand continuous billet caster with a production capacity of 1.2 million tonnes per year.The company will also...Read More
Spain's prime minister Pedro Sanchez has urged the Spanish parliament to extend the country's lockdown to April 25 to curb the spread of Covid-19, which would mean the country's steel industry continuing to operate at reduced rates, Fastmarkets heard on Monday April 6. On Saturday April 4 Pedro Sanchezsaid thelockdown in Spain should be extended through to April 25 to overcome the disease, discard...Read More
Vehicle production in Brazil fell by 21.1% year on year in March due to lockdowns introduced to contain the Covid-19 pandemic in the last 15 days of the month, car manufacturer association Anfavea said on Monday April 6. Output was 189,958 units during the month, compared with 240,763 units a year before. Production also fell by 7% in comparison with February data, which was 204,200 units. Over th...Read More
Here are five Fastmarkets stories you might have missed on Monday April 6 that are worth another look.Italian stainless steelmaker Acciai Speciali Terni (AST) has resumed production, following a week of downtime in response to the coronavirus pandemic, sources told Fastmarkets on April 6.The Covid-19 pandemic may have just sealed the fate of already-struggling aluminium smelting capacity.Chile's s...Read More
Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day in a slow market, sources told Fastmarkets on Monday April 6.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?473.00 ($510.96) per tonne on Monday, up by ?,?3 per tonne from ?,?470.00 per tonne on April 3.Monday's index was calculated based on deals, offers and "achievable...Read More
The London Metal Exchange three-month tin price closed trading higher on Monday April 6, with thin volumes across the complex allowing it capture the bulk of price gains, while aluminium entering LME warehouses put the light metal under pressure. LME tin's underlying price closed at $14,280 per tonne on Monday afternoon, climbing from an intraday low of $14,140 per tonne, while just 188 lots of ti...Read More
Demand for slab originating from the Commonwealth of Independent States came from China only during the week to Monday April 6, as activity in other outlets was disrupted due to the effects of Covid-19 pandemic.A 40,000-tonne cargo of Russia-origin slab to be shipped from the port of Saint Petersburg was reported sold to China at $347 per tonne cfr. Another mill sold a 50,000-tonne cargo to the sa...Read More
Here are five Fastmarkets stories you might have missed on Monday April 6 that are worth another look.Italian stainless steelmaker Acciai Speciali Terni (AST) has resumed production, following a week of downtime in response to the coronavirus pandemic, sources told Fastmarkets on April 6.The Covid-19 pandemic may have just sealed the fate of already-struggling aluminium smelting capacity.Chile's s...Read More
The Covid-19 pandemic may have just sealed the fate of already-struggling aluminium smelting capacity. At under $1,500 per tonne, aluminium cash prices on the London Metal Exchange are at levels last seen in 2015 and not far shy of the lows seen during the 2008-09 financial crisis. Estimates are that as much as half the world's smelters are now under water, meaning cuts and/or closures are inevita...Read More
The London Metal Exchange three-month tin price closed trading higher on Monday April 6, with thin volumes across the complex allowing it capture the bulk of price gains, while aluminium entering LME warehouses put the light metal under pressure. LME tin's underlying price closed at $14,280 per tonne on Monday afternoon, climbing from an intraday low of $14,140 per tonne, while just 188 lots of ti...Read More
The three-month copper price on the London Metal Exchange was higher during morning trading on Monday April 6, with prices nearing the $4,900-per-tonne resistance level amid low turnover, while the tin price was supported by a fresh outflow. Copper's underlying price on the LME was recently seen at $4,892.50 per tonne, climbing from an intra-morning low of $4,841 per tonne. Turnover remains modera...Read More
Three-month base metals prices on the London Metal Exchange were up across the board this morning, Monday April 6, as were gold and silver prices.Continued declines in the daily Covid-19 death tolls reported in Italy and France have lifted hopes that the virus can be brought under control, as seen in China. China's financial markets are closed on Monday for a public holiday, but other Asian-Pacifi...Read More
Moon Iron and Steel (Misco) started production of billet at its facility in Sohar, Oman in the week starting March 30, sources close to the company told Fastmarkets.Misco has an electric arc furnace, ladle furnace and a five-strand continuous billet caster with a production capacity of 1.2 million tonnes per year.The company will also...Read More
Prices in the major global steel billet markets continued to soften in the week to Friday April 3 due to the effects of the Covid-19 pandemic.Lack of demand for finished steel products, together with continuing uncertainty about how long the disruptions will last, were the major reasons for the negative sentiment.Even in China, which has been one of the main billet buyers recently, demand was expe...Read More