Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will resume operations at its No3 blast furnace later this week, after a maintenance outage lasting more than three months.The company told Fastmarkets about the restart late on Tuesday October 22 and the resumption in output will add steelmaking capacity to the country's already-flat steel market. Prices are already under p...Read More
The price of steel rebar in the Southern European domestic market has been stable this week but participants were closely watching the ferrous scrap markets to see how prices there would develop, Fastmarkets heard on Wednesday October 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?445-465 ($496-518) per tonne on Wednesday, unc...Read More
The Turkish steel mills have extended their silence in the deep-sea scrap markets and are now focused on the markets for billet and finished long steel, sources said on Wednesday October 23.The mills in Turkey have been very active in scrap purchasing so far this month, booking at least 16 cargoes. They went quiet in the deep-sea markets at the end of last week after booking almost 500,000 tonnes...Read More
Exports of hot-briquetted iron from Venezuela have remained low in recent weeks because of a continuing shortage of iron ore pellets and pressure from sanctions imposed by the United States, sources told Fastmarkets on Wednesday October 23.Around 125,000 tonnes of HBI was available from stocks in Venezuela in early October, according to an official source."Venezuela is producing HBI but we will se...Read More
Seaborne iron ore prices edged up on Wednesday October 23 in line with the trend seen in the futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.18 per tonne, up $0.50 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87 per tonne, up $0.67 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.66 per tonne, up $0.39 per tonne.58% Fe fines high-premium, cfr Qin...Read More
CIS billet producers continued to increase their export offer prices, this week, amid reduced availability of the material in the market.Offers from Ukraine were limited because three mills- Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD), Dnipro Metallurgical Plant (DMP) and Elektrostal have idled parts of their facilities because of this year's unfavorable pricing environment.U...Read More
Export billet and slab prices in Iran moved in different directions in the week ended Wednesday October 23 with trends in the global markets showing a similar divergence.The Iranian export billet price inched upward following price rises in Asia, the CIS and the Middle East. Large-volume billet sales to China and Southeast Asia in recent weeks supported the efforts of Iranian billet producers.A ca...Read More
China's domestic rebar prices were flat on Wednesday October 23 as active selling by stockists offset stronger billet and futures prices. Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, unchangedNorthern China (Beijing): 3,550-3,590 yuan per tonne, unchangedTangshan's billet price picked up by 30 yuan per tonne after local blast furnace operators cut their production by...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More
An overview of the noble alloys markets and their latest price moves.Read More
Anglo American has raised the 2019 iron ore production guidance for its Minas Rio operations in Brazil while maintaining that for its Kumba operations in South Africa.The miner now expects Minas Rio to produce 20-22 million tonnes of the steelmaking raw material, compared with 19-21 million tonnes previously, it said in its third-quarter production report published on Tuesday October 22.The miner...Read More
Brazilian import volumes of flat steel products dipped by 22.51% in September 2019 while long steel imports almost doubled, soaring by 96.86%, according to figures from the country's economy ministry.Imports of hot-rolled coil (HRC) from China were only 619 tonnes last month, compared with 15,589 tonnes a year before.Meanwhile, China exported only 2,827 tonnes of cold-rolled coil (CRC) to Brazil,...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Domestic hot-rolled coil prices in Northern Europe have been stable over the past week, while prices in the south declined by ?,?5 per tonne over the period, sources told Fastmarkets on Wednesday October 23.Although the prices have not changed significantly, the market remains under downward pressure from poor demand.Northern EuropeDomestic prices for HRC in the north of Europe have been stab...Read More
The price of steel rebar in the Southern European domestic market has been stable this week but participants were closely watching the ferrous scrap markets to see how prices there would develop, Fastmarkets heard on Wednesday October 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?445-465 ($496-518) per tonne on Wednesday, unc...Read More
CIS billet producers continued to increase their export offer prices, this week, amid reduced availability of the material in the market.Offers from Ukraine were limited because three mills- Dneprovskiy Dzerzhinsky Metallurgical Plant (DMKD), Dnipro Metallurgical Plant (DMP) and Elektrostal have idled parts of their facilities because of this year's unfavorable pricing environment.U...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 23 that are worth another look.Taseko Mines Limited is in the process of seeking a listing on the Main Market of the London Stock Exchange (LSE), with approval anticipated prior to the end of 2019.Chilean iron ore and long steel producer Compa???-a de Acero de Pac?-fico (CAP) was forced to reduce production from some o...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
A combination of weak macroeconomics and an anticipated increase of global aluminium supply is prompting expectations that more participants will purchase metal with the intention of holding and financing it for long-term gain. The expected slowdown of the global economy, participants say, will lead to a decline in demand and metal consumption meaning more stock will be put on warrant on the Londo...Read More
The three-month copper price on the London Metal Exchange rose to its highest level in more than a month at the close of trading on Wednesday October 23 amid positive forward spreads, while tin futures underperformed in a 2% decline over the afternoon. Copper's three-month price closed at $5,881 per tonne this afternoon, its highest level since September 13, with just over 16,000 lots of metal exc...Read More