Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Vale's shipments from Ponta da Madeira were not affected by the incident, the miner said late on Wednesday February 26.The ship, a very large ore carrier (VLOC) called MV Stellar Banner...Read More
Turkish steel mills have continued to stay away from the deep-sea scrap markets to try to keep pressure on prices, sources said on Thursday February 27.After a buying spree in the past three weeks, the mills stopped their deep-sea purchases at the beginning of this week.The mills were very active in the deep-sea scrap markets in the period from February 4-24, booking at least 22 cargoes totaling m...Read More
Turkish steel billet prices have remained stable over the past week on steady imported scrap costs, sources said on Thursday February 27.The suppliers in the Commonwealth of Independent States (CIS) region were still offering material at $405-415 per tonne cfr this week, but no significant bookings were heard at those prices.Some sources believed that bids from Turkish customers would be heard at....Read More
Prices for imported steel billet and domestic rebar in Egypt increased in the week ended Thursday February 27, but demand was still weak, sources told Fastmarkets.Some Egyptian rebar producers increased their prices on Wednesday February 26.Egyptian rebar producers were offering rebar at E ?9,600-10,100 per tonne ex-works including 14% value-added tax, up from last...Read More
China's domestic rebar prices dropped on Thursday February 27 on surging inventories despite a gradual improvement in the country's logistic sector.Eastern China (Shanghai): 3,420-3,450 yuan ($487-492) per tonne, down 30 yuan per tonne Northern China (Beijing): 3,370-3,410 yuan per tonne, down 10 yuan per tonneMost transportation restrictions that had been imposed in various part of the country to...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
The novel coronavirus (2019-nCoV) outbreak in South Korea, the largest export market for Chinese stainless steel, is likely to apply additional pressure on stainless steel prices in Asia, sources told Fastmarkets this week. Although the actual impact will be determined by the severity of the measures that the South Korean government undertakes, buyers are likely to exercise more caution while they...Read More
China's auto output and sales fell in January due to a shorter working month as a result of the Chinese New Year, the China Association of Automobile Manufacturers (CAAM) said on Wednesday February 26.A total of 1.767 million vehicles were produced in the country last month, down by 25.4% from a year earlier...Read More
A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Vale's shipments from Ponta da Madeira were not affected by the incident, the miner said late on Wednesday February 26.The ship, a very large ore carrier (VLOC) called MV Stellar Banner...Read More
Myanmar's JFE Meranti has begun operating its color-coating line at Thilawa Special Economic Zone, according to a joint announcement from the company's shareholders.The Japanese-backed company said its hot-dipped galvanizing plant - at the same location...Read More
The novel coronavirus (2019-nCoV) outbreak in South Korea, the largest export market for Chinese stainless steel, is likely to apply additional pressure on stainless steel prices in Asia, sources told Fastmarkets this week. Although the actual impact will be determined by the severity of the measures that the South Korean government undertakes, buyers are likely to exercise more caution while they...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
The London Metal Exchange three-month zinc price trended lower over the course of Thursday February 27, briefly touching an intraday high of $2,057 per tonne before falling to a closing price of $2,012 per tonne amid a turnover of fewer than 10,000 lots.The forward spreads remained favorable for holding onto the galvanizing metal, with the benchmark cash-to-three-month spread recently trading in a...Read More
A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Vale's shipments from Ponta da Madeira were not affected by the incident, the miner said late on Wednesday February 26.The ship, a very large ore carrier (VLOC) called MV Stellar Banner...Read More
Domestic prices for hot-rolled coil in Northern Europe inched up day on day on Thursday February 27, supported by long delivery times for domestic material and a lack of import offers, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.38 ($526.85) per tonne on February 27, up by ?,?0.67 per tonne day on day from ?,?483.71 per to...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 27 that are worth another look.A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country's north-eastern Maranh??o state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.Growing Chinese copper output and an imbalance in trade terms between China a...Read More
The Chinese domestic price for silico-manganese has drifted downward significantly in recent assessments because some alloy smelters reduced their offer prices to attract buying interest and generate cash amid the sluggish demand circumstances created by the outbreak of the 2019-nCoV coronavirus, market participants have told Fastmarkets.Fastmarkets' latest assessment of the price of silico-mangan...Read More
The novel coronavirus (2019-nCoV) outbreak in South Korea, the largest export market for Chinese stainless steel, is likely to apply additional pressure on stainless steel prices in Asia, sources told Fastmarkets this week. Although the actual impact will be determined by the severity of the measures that the South Korean government undertakes, buyers are likely to exercise more caution while they...Read More
The London Metal Exchange three-month zinc price trended lower over the course of Thursday February 27, briefly touching an intraday high of $2,057 per tonne before falling to a closing price of $2,012 per tonne amid a turnover of fewer than 10,000 lots.The forward spreads remained favorable for holding onto the galvanizing metal, with the benchmark cash-to-three-month spread recently trading in a...Read More