Iranian semi-finished steel producers have benefited from the growing demand for such materials in China, where domestic prices have surged due to government policies that have led to cuts in steel production because of environmental concerns.While customers in Southeast Asia, the Middle East and Europe became more cautious about purchasing billet and slab from Iran, fearing the consequences of th...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 30 that are worth another look.The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.Japanese copper producer Pan Pacific Copper (PPC) has offered its Chinese customers co...Read More
Executives from aluminium producers Alcoa, Hindalco, Norsk Hydro and EN+ have said that governments, regulators and companies need to work together to develop a framework to make sustainably produced aluminium competitive against metal produced by more traditional methods.They were speaking during a panel at Fastmarkets' Base Metals: Unplugged event on Monday October 28, as part of the London Meta...Read More
Three-month base metals traded on the London Metal Exchange mostly failed to make gains in the morning session on Wednesday October 30 amid low volumes traded across the complex, with a weaker dollar index, down by 0.04% at 97.65, failing to stimulate investors' appetites.The global macro picture continues to exert a hold over the metals market while United States-China trade tensions rumble on, a...Read More
Japanese copper producer Pan Pacific Copper (PPC) has offered its Chinese customers copper cathode supply in 2020 at a premium of $83 per tonne cif Shanghai, $3 per tonne lower than 2019's level, two sources familiar with the matter told Fastmarkets on Wednesday October 30.The lower offer comes after the Japanese copper producer raised its 2019 benchmark by $14 per tonne or 19% year on year to $86...Read More
Base metals prices on the Shanghai Futures Exchange were largely up but overall little changed during the morning trading session on Wednesday October 30, with investors adopting a cautious approach ahead of an expected interest rate cut by the US Federal Reserve.That said, the SHFE base metals continued to find some support from slight optimism stemming from ongoing trade negotiations between Chi...Read More
China's lead usage will fall by 1.1% in 2019 due to declining automotive production and increased use of lithium-ion batteries in motorcycle and e-bike sectors as well in uninterruptable power supply stationary backup systems, according to the International Lead & Zinc Study Group (ILZSG).Additionally, a further 0.5% reduction in Chinese demand is anticipated in 2020, ILZSG said on Monday October...Read More
Prices for hollow steel sections in Northern and Southern Europe were unchanged this week even as feedstock costs continued to fall, market sources told Fastmarkets on Wednesday October 30.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?560-580 ($621-644) per tonne on Wednesday, unchanged week on week. "We have adjusted our pri...Read More
Prices for hollow steel sections in Northern and Southern Europe were unchanged this week despite pressure from imports and recent feedstock costs, market sources told Fastmarkets on Wednesday October 23. Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?560-580 ($623-646) per tonne on Wednesday, unchanged week on week. Costs for the feeds...Read More
Third-quarter steel shipments from Ternium's operations in Mexico improved on an annual basis in 2019, the company said this week, while the volumes dispatched from its facilities in Argentina fell in the same comparison. Shipments from Ternium's Mexican plants reached 1.63 million tonnes in June-September, up by 7% from the same period in 2018, with sales amounting to 1.53 million tonne...Read More
Brazilian steelmaker Gerdau is expecting domestic steel prices to remain unchanged until year-end, but an improvement could be seen at the beginning of 2020 if demand recovers, chief executive officer Gustavo Werneck said.Although foreign exchange rates have been volatile in Brazil, and domestic price premiums were seen in negative territory at some times, current dynamics suggest stability for th...Read More
Prices for steel H-beams in Europe were unchanged again this week, as risingfeedstock costs offset lackluster demand, sources told Fastmarkets on Wednesday October 30Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was unchanged at ?,?540-570 ($599-633) per tonne on October 30."It is the end year business period, nobody will buy material if it's not really...Read More
Prices of mid-grade Brazilian fines were up on Wednesday October 30, with a Brazilian Blend fines (BRBF) cargo fetching $85.60 per tonne, although market participants saw little scope for any major correction in mid-grade iron ore prices.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.13 per tonne, up $0.49 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.95 per tonne, up $0....Read More
The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.It claimed this will give the new group 18 million tonnes of rolled steel capacity annually, making it the eighth largest steel producer outside China, with annual sales of approximately $15 billio...Read More
Market participants flagged a bearish outlook on seaborne coking coal prices in the coming weeks, citing the dwindling attractiveness of imported cargoes for Chinese buyers.Fastmarkets indicesPremium hard coking coal, fob DBCT: $143.81 per tonne, down $2.59 per tonnePremium hard coking coal, cfr Jingtang: $161.53 per tonne, unchangedHard coking coal, fob DBCT: $129.36 per tonne, unc...Read More
China's domestic rebar prices rose on Wednesday October 30 after news broke about the country's steelmaking hub of Tangshan planning to implement short-term curbs from Thursday.Eastern China (Shanghai): 3,650-3,680 yuan ($516-520) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, up 10-20 yuan per tonneLocal authorities in the northern Chinese city have ordered s...Read More
China's hot-rolled coil prices remained stable for a third day on Wednesday October 30 with mills receiving a steady stream of orders, though stockists drew down their inventories on a bearish outlook for the market.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($495-498) per tonne, unchangedNorthern China (Tangshan): 3,500 yuan per tonne, unchangedSteady downstream demand kept prices flat du...Read More
South Africa's manganese ore exports hit record levels of over 1.8 million tonnes in September and October 2019, shipping data shows. The country exported over 1.86 million tonnes of manganese ore in September and just over 1.80 million tonnes in October, taking the year-to-date total to just over 15.60 million tonnes. The September and October figures beat previous monthly records hit in March an...Read More
China's imports of cobalt intermediates, including cobalt hydroxide, surged by 24.5% in July-September versus the prior quarter amid extensive procurement from Chinese consumers, who looked to take advantage of falling cobalt raw material prices during the period.China imported 85,571 tonnes of cobalt intermediates in the third quarter of this year, up from the 68,717 tonnes shipped in April-June...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 215,000 versus revised 213,000 last week. Actual was 218,000. Consensus for September Personal Income was an increase of 0.3% versus a gain of 0.4% in August....Read More