ArcelorMittal's Brazilian unit has clarified information about the shutdown of its No3 blast furnace in Tubar??o facility, in the country's southeastern Esp?-rito Santo state; the equipment will remain halted for an indeterminate period, the company told Fastmarkets on Friday April 3.The blast furnace has capacity to produce 2.8 million tonnes of crude steel per year. The Tubar??o unit supplies sl...Read More
Brazilian slab export prices widened during the week ended Friday April 3, with buyers opportunistic after prices decreased sharply in the previous two weeks.Buyers in North America and Asia were showing interest in Brazilian slab, with prices considered a bargain after several weeks of price decreases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil widened on Fri...Read More
Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More
Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More
Key data from Fastmarkets' pricing sessions in Europe, Shanghai and the United States in the week to Friday April 3. United States The US ferro-silicon market continued to surge, supported by a limited availability of inventory for the spot...Read More
Carmaker Ford has extended the restart of its European operations into May, while Mercedes-Benz owner Daimler has chosen to bring in short-time working while European nations try to control the Covid-19 pandemic.The automotive manufacturers in Europe and the UK extended their initial production suspensions following the introduction or extension of national lockdown measures.The shutdowns were ann...Read More
European steelmakers have been reducing output and temporarily idling equipment due to the poor demand caused by lockdowns and quarantine measures implemented across Europe intended to prevent the spread of Covid-19.Of particular importance has been the closure of a large number of automotive manufacturers. Carmakers in Europe and the UK have extended their previously announced production suspensi...Read More
Brazilian steelmaker Gerdau will idle the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, this month to adjust operations due to to currently weakened demand because of the Covid-19 pandemic, the company said on Friday April 3.Blast furnace No2 at Ouro Branco has capacity to produce 1.5 million tonnes per year of crude steel. Furnace No1, which will remain act...Read More
ArcelorMittal's Brazilian unit has clarified information about the shutdown of its No3 blast furnace in Tubar??o facility, in the country's southeastern Esp?-rito Santo state; the equipment will remain halted for an indeterminate period, the company told Fastmarkets on Friday April 3.The blast furnace has capacity to produce 2.8 million tonnes of crude steel per year. The Tubar??o unit supplies sl...Read More
Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More
Grupo Mexico has started to gradually reduce its mining operations in an effort to prevent the spread of the Covid-19 virus, with its activities declared non-essential by the government. The world's fifth-largest copper producer said on social media platform Twitter that it was complying with a decree issued by the governor of the state of Sonora in a manner that would protect its workers' health...Read More
Brazilian steelmaker Gerdau will idle the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, this month to adjust operations due to to currently weakened demand because of the Covid-19 pandemic, the company said on Friday April 3.Blast furnace No2 at Ouro Branco has capacity to produce 1.5 million tonnes per year of crude steel. Furnace No1, which will remain act...Read More
ArcelorMittal's Brazilian unit has clarified information about the shutdown of its No3 blast furnace in Tubar??o facility, in the country's southeastern Esp?-rito Santo state; the equipment will remain halted for an indeterminate period, the company told Fastmarkets on Friday April 3.The blast furnace has capacity to produce 2.8 million tonnes of crude steel per year. The Tubar??o unit supplies sl...Read More
Demand for lithium chemicals will not recover before mid-2021 due to the added headwinds caused by the global spread of the Covid-19 epidemic to an already oversupplied market, SCB's battery raw materials broker said.During a virtual lithium market presentation hosted by investment bank Morgan Stanley on Friday April 3, SCB's Martim Facada said the lithium market will remain in a bearish price env...Read More
China has re-acquired its taste for steel imports in the past few weeks due to an open window for arbitrage between its domestic market and the rest of the world.A more controlled descent of its steel prices has made it a major importer of steel, especially semi-finished products, with markets in the rest of the world trending downward amid stringent lockdowns and reduced operating rates imposed b...Read More
The London Metal Exchange three-month aluminium price briefly breached the $1,500 per tonne mark, with an intraday high of $1,505 per tonne, but closed at $1,481.50 per tonne on Friday April 3. A little more than 9,100 aluminium lots were traded on Friday, and the underlying price remained under pressure despite an outflow of 2,550 tonnes across LME-registered warehouses. Overall aluminium invento...Read More
The benchmark for the supply of aluminium to main Japanese ports (MJP) in the second quarter of 2020 has settled at a premium of $82 per tonne cif over the London Metal Exchange cash price. The settlement represents a 1.2% drop or $1 per tonne lower from the first-quarter benchmark of $83 per tonne, which was set at the end of December.Compared to last year, however, the second-quarter aluminium P...Read More
Seaborne coking coal prices dropped below $140 per tonne on a fob-Australia basis on Friday April 3, with buyers maintaining a bearish outlook, though some traders highlighted potential supply concerns from Australia.Fastmarkets IndicesPremium hard coking coal, fob DBCT: $138.60 per tonne, down $3.49 per tonnePremium hard coking coal, cfr Jingtang: $145.75 per tonne, down $3.62 per tonneHard cokin...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.A 6% decline in the daily average 62% Fe iron ore fines benchmark last week contributed to the lowest quarterly price rise for the first quarter in five years, in spite of clear evidence of supply-side constraints. Although there were clear demand-related obstacles to iron ore suppliers raking in more typical, seasonal price...Read More
The market for pig iron exports from the south of Brazil was stable during the week ended Friday April 3 because mills had sold out their material until June production.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was unchanged at $297-300 per tonne on Friday."[There is] no doubt that the global market is depressed, but we have sold out all available...Read More