Czech steelmaker Liberty Ostrava is increasing its steel prices by ?,?20 ($23) per tonne to partially offset an increase in production costs, the company told Fastmarkets on Tuesday July 16. "Recent increases in raw materials and energy costs and the prevailing steel prices in Europe necessitate an immediate response to avoid further margin squeezes for our steel business," the company said.O...Read More
Turkish steel producers remained quiet in the deep-sea scrap markets, awaiting some signs of recovery in the finished steel sector, sources said on Tuesday July 16.The last verified scrap deal was on July 9 when a steel mill in the Iskenderun region booked a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20).Since then, Turkish steel mills have stayed away from the deep-sea markets...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 16.Please click...Read More
Czech steelmaker Liberty Ostrava is increasing its steel prices by ?,?20 ($23) per tonne to partially offset an increase in production costs, the company told Fastmarkets on Tuesday July 16. "Recent increases in raw materials and energy costs and the prevailing steel prices in Europe necessitate an immediate response to avoid further margin squeezes for our steel business," the company said.O...Read More
The London Metal Exchange three-month nickel price rose 2.9% on Tuesday July 16 to close above the $14,000-per-tonne resistance level.The LME three-month nickel contract closed at $14,065 per tonne, up $400 per tonne from the $13,665-per-tonne close on Monday.This is the first time nickel futures have surpassed the $14,000 mark since August 2018, with approximately 15,000 lots traded by 5pm o...Read More
First Cobalt Corp has agreed on a term sheet with Glencore AG, outlining the framework for a phased approach to recommission a cobalt refinery in Ontario, Canada, in less than a year with an expansion to 55 tonnes per day in 2021. The framework remains subject to a number of conditions and outline the key milestones to a long-term strategic relationship that could bring a reliable source of domest...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 16 that are worth another look.United States President Donald Trump signed an executive order on Monday July 15 aimed at maximizing the use of American-made products and materials, the third pillar of his "Buy American, Hire American" plans.The London Metal Exchange will list Huayou's cobalt cut cathodes with imme...Read More
An overall bearish mood has prevailed in most of the noble alloys markets in the first half of the year with some prices now trading at multi-year lows in contrast to record highs hit last year. The vanadium market fell by the most in percentage terms out of the complex with both ferro-vanadium and vanadium pentoxide prices plummeting by more than 50% since the beginning of the year. Both prices h...Read More
Concerns about widening restrictions on imported coal at Chinese ports took center stage on Tuesday July 16, even as trading activity in the spot market remained subdued. A branded cargo changed hands at $180 per tonne fob Australia on the Global Coal platform, sources said during the day. The trade was not included in the calculation of Fastmarkets' fob DBCT index as it fell outside the eight-wee...Read More
China's hot-rolled coil producers conceded to lower export prices on Tuesday July 16 despite some gains in the domestic market, with overseas buyers unwilling to pay too much for Chinese products.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedPrices picked up in Shanghai amid moderate tradi...Read More
China's domestic rebar prices picked up some strength on Tuesday July 16 on early gains in the futures market, but the export segment continued to soften on weak demand. Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-582) per tonne, widened upward by 10 yuan per tonneNorthern China (Beijing): 3,890-3,920 yuan per tonne, up 20 yuan per tonneTraders raised prices during the day in respons...Read More
Prices for flat steel imports to the United Arab Emirates and Saudi Arabia fell this week, with demand remaining weak because of the seasonal summer lull.UAE Offers for hot-rolled coil imports from China to the UAE came in at $510-520 per tonne cfr, while buyers were bidding $500 per tonne cfr.No major deal was heard.Working hours in the UAE are limited from June 15 until September because of...Read More
Recylex' listing on Euronext Paris resumed at the opening of the stock exchange on Tuesday July 16 after the lead and zinc recycler announced its projected cash requirements for 2019, 2020 and 2021. Trading in European zinc and lead producer Recylex' shares was suspended on Monday July 8 at the company's own request following an unexplained 40% increase in the share price during the prior two days...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday July 16 that are worth another look.United States President Donald Trump signed an executive order on Monday July 15 aimed at maximizing the use of American-made products and materials, the third pillar of his "Buy American, Hire American" plans.The London Metal Exchange will list Huayou's cobalt cut cathodes with imme...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose 1.4% month on month in June, data released by major Japanese trading house Marubeni Corp on Tuesday July 16 showed. Total aluminium stocks at the three ports totaled 300,000 tonnes at the end of June, compared with 296,000 tonnes at the end of May, reversing the fall seen from April to May this year....Read More
Rio Tinto's mined copper production fell by 13% year on year in April-June 2019 due to lower production from its Escondida and Kennecott projects reflective of lower grades, the company said on Tuesday July 16. Mined copper production totaled 137,100 tonnes in the second quarter. Production was also down by 5% from 143,900 tonnes in the first quarter of this year. Mined production at Kennecott in...Read More
The global market for refined zinc metal was in a deficit of 123,000 tonnes over the first five months of 2019, marking a 19.41% annual increase from 103,000 tonnes a year ago, the International Lead & Zinc Study Group (ILZSG) said. Refined zinc metal production contracted by 1% to 5.39 million tonnes in the first five months of the year compared with the same period of 2018. ILZSG reported produc...Read More
Turkish suppliers had already used up 70.43% of the annual EU steel import quota for Turkey-origin rebar by Monday July 15, just two weeks after the annual quota period began on July 1.Only 89,178 tonnes of the annual quota volume of 301,538 tonnes for Turkish rebar remains to be allocated. The current quota period will run until June 30, 2020.As of July 15, no further tonnes were awaiting allocat...Read More
Egypt's Administrative Court has refused an appeal against the suspension of a safeguard duty on imports of steel billet and rebar, sources in the country told Fastmarkets on Tuesday July 16.Some Egyptian steel mills appealed on July 7 against the decision by the Administrative Court, taken on July 4, to suspend the safeguard duties on steel billet...Read More
Prices for imported and domestic rebar in the United Arab Emirates have increased over the past seven days, but billet import prices have decreased, sources said on Tuesday July 16.The reason behind the higher price for rebar was that local prices have been low in the UAE since late May but demand has now become stronger in the country.Domestic rebarThe domestic rebar market in the UAE has improve...Read More