Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums i...Read More
Aluminium premiums in Europe continued to buck the general trend in the week ended Tuesday January 28, rising further while premiums in Asia and the United States were static.Rotterdam duty-unpaid premium climbs to highest since August US Midwest premium holds at 23-month low Domestic Brazil premium edges higher Asia premiums static due to lunar new year holiday. Tight availability fuels European...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Trading activity in the seaborne iron ore market was muted on Tuesday January 28 with markets in China closed for a week-long public holiday for the Chinese New Year, which has been extended until Sunday in light of the coronavirus outbreak in the country. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.71 per tonne, unchanged 62% Fe Pilbara Blend fines, cfr Qingdao: $92.75 per tonne, u...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country's copper commission Cochilco announced.Cochilco used the current project pipeline in the country as a basis for calculating production trends, it said on Monday January 27. In a bullish scenario, output could hit 8.08 million tonne...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums i...Read More
The London Metal Exchange three-month nickel price was slightly higher during morning trading on Tuesday January 28, with dip-buying momentum prompting a marginal uptick, while copper futures failed to gather momentum.Nickel's outright price on the LME was recently at $12,710 per tonne - above Monday's closing price of $12,610 per tonne - with some 1,200 lots exchanged as of 9:20am London time.&nb...Read More
Glencore have appointed Mike Westerman to the position of acting head of copper assets following the departure of Mike Ciricillo.Westerman accepts the role after having been chief operating officer of Glencore's Australian copper assets for several...Read More
The United States' steel imports declined by nearly 18% in December compared with the same month in 2018 but rose by 0.5% sequentially.Steel mill product imports totaled 1,409,279 tonnes in the final month of last year, according to preliminary data updated on Monday January 27 by the US Commerce Department's Enforcement and Compliance division. That's down from 1,717,818 tonnes in Dece...Read More
US hot-rolled coil prices remain volatile around $30 per hundredweight ($600 per short ton) on hopes that longer lead times will allow mills to keep prices stable.But persistent concerns about demand - amid heightened fears that the coronavirus could hurt the broader economy - have kept buyers on the sidelines, sources said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calcu...Read More
Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday January 28 due to a combination of good order books at EU mills and uncompetitive import offers, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?466.56 ($514.29) per tonne on January 28, up by ?,?5.31 per tonne day on day from ?,?461.25 per tonn...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia decreased this week on lower offers and bids, but demand was weak because buyers wanted to see which direction the market would take after the Chinese new year holiday, sources told Fastmarkets on Tuesday January 28.The lunar new year break started on January 25, and was expected to end on January 30. But the outbreak of a...Read More
Domestic and import prices for steel rebar in the United Arab Emirates changed over the past week, while demand was moderate because buyers wanted to wait for the direction of prices after China returns from the Lunar New Year holiday, market sources said on Tuesday January 28.The Chinese New Year holiday break began on January 25 and will end on February 2 after the Chinese government ordered an...Read More
A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association (Worldsteel).A total of 1.87 billion tonnes of crude steel were produced last year, compared with 1.81 billion tonnes a year earlier, Worldsteel said.Steel production in China continued to rocket upward, with steelmakers in the country...Read More
The Turkish deep-sea scrap import markets have remained quiet since yesterday, with both sellers and buyers holding back from the markets, sources said on Tuesday January 28.The mills in Turkey have booked only two deep-sea cargoes in the past two weeks because of the sluggish rebar and billet markets in the country.Late on January 22, a steel mill in the Iskenderun region booked a UK cargo compri...Read More
Trading activity in the seaborne iron ore market was muted on Tuesday January 28 with markets in China closed for a week-long public holiday for the Chinese New Year, which has been extended until Sunday in light of the coronavirus outbreak in the country. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.71 per tonne, unchanged 62% Fe Pilbara Blend fines, cfr Qingdao: $92.75 per tonne, u...Read More
Trading activity in the seaborne coking coal market was muted on Tuesday January 28 due to the absence of Chinese participants.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per tonne,...Read More
Demand for seaborne iron ore concentrate weakened ahead of a week-long public holiday in China for the Chinese New Year with mills in the country likely to have built up their inventories well in advance, while that for pellets was stronger due to last-minute restocking.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $111.87 per tonne last Friday Janua...Read More
A summary of the financial results for Swedish steelmaker SSAB for the fourth quarter and full year of its financial year in 2019. In brief Earnings drop on planned maintenance, lower shipments and strikes as well as weaker demand and pressured steel prices.SSAB GroupFourth-quarter 2019 results Loss before interest and taxes1.31 billion Swedish krona ($117.4 million), down from earnings befor...Read More