Steelmaker ArcelorMittal has completed an investment agreement with Invitalia, an Italian state-owned company, forming a public-private partnership between the two parties, the steelmaker said on Wednesday April 14.The joint company AM InvestCo Italy will be renamed Acciaierie d'Italia Holding, and its main operating subsidiary, ArcelorMittal Italia, will be renamed Acciaierie d'Italia.Invitalia h...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationBalkanization refers to fragmentation of globally integrated supply chains that have been global economic drivers for the past 20 years.Read More

Prices for steel hollow sections in Europe jumped on Wednesday April 14 due to mills passing on soaring feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?950-1,050 ($1132- 1,251)per tonne on April 14, up from ?,?920-950 per tonne one week previous.The ongoing shortage of hot-rolled coil (HRC) - the feedst...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday April 14, and broader markets were pleased US consumer prices did not shock to the upside, but markets are likely to remain wary in case corporate earnings do not live up to high expectations.* Tuesday’s US consumer price index (CPI) reading climbed by 0.6% in March, slightly highe...Read More

Steel rebar prices is the north of Europe were flat in the week to Wednesday April 14, despite subdued buying activity in some countries and customers pushing for discounts, Fastmarkets heard.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe remained at ?,?650-670 ($775-798) per tonne on April 14, unchanged week on week.After a splash of bu...Read More

European steel H-beam prices was unchanged on Wednesday April 14, with the outcome of monthly scrap settlements not yet clear, sources told Fastmarkets. Fastmarkets assessed the weekly price for steel beams, domestic, delivered Northern Europe at ?,?750-780 ($883-930) per tonne on Wednesday, steady week on week. Fastmarkets' weekly price assessment for steel beams, domestic, delivered So...Read More

The domestic steel wire rod price in the north of Europe held steady in the week to Wednesday April 14 despite producers' efforts to push for increases, with buyers reporting difficulties passing higher prices downstream. Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?660-690 ($786-822) per tonne on Wednesday, unchanged since...Read More

Magna International (MG), a TSX 60 stock moved above $118.71 to an all-time high extending an intermediate uptrend. Open Text (OTEX), a TSX 60 stock moved above US$49.77 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Wednesday April 14thU.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.Crude oil advan...Read More

Turkish steel producers continued to hold back from deep-sea scrap bookings because of limited sales of finished long steel, sources told Fastmarkets on Wednesday April 14.The most recent cargo sale was at the end of last week, when a steel mill in the Iskenderun region paid an average price of $436 per tonne cfr for 35,000 tonnes of HMS 1&2 (95:5) and 15,000 tonnes of shredded.The deal caused a $...Read More

British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in April unchanged compared with market levels the month before, amid persistent supply tightness, trade sources said this week.The move follows initial signs around the turn of the month of a potential fall of ?20 ($27) per tonne due to a combination of reasons: downward pressure on Eu...Read More

China's steel scrap import prices narrowed upward on Wednesday April 14, with rises in finished steel prices driving momentum in the market.The country's steel mills continued to raise their bids for imports of HRS101-grade scrap, with at least one bid heard at $490-495 per tonne cfr eastern China.The highest bid from northeast China reached $500 per tonne cfr China on Wednesday, which sources sai...Read More

Seaborne iron ore prices made largely rangebound movements on Wednesday April 14 except for the low-grade fines price, which fell amid weaker demand from steelmakers, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.54 per tonne, up $0.29 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.10 per tonne, down $0.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $15...Read More

The premium hard coking coal price inched up in the fob market due to increased procurement activity while the cfr market remained largely stable at the elevated level on Wednesday April 14, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.18 per tonne, up $0.59 per tonnePremium hard coking coal, cfr Jingtang: $218.87 per tonne, up $0.08 per tonneHard coking coal, fob DBCT:...Read More

British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in April unchanged compared with market levels the month before amid persistent supply tightness, trade sources said this week. A correction has...Read More

Exports of steel scrap from Japan fell by 26.2% year on year in January-February 2021, although volumes shipped to China jumped sharply, the latest data from Japanese customs shows.Japan exported 501,006 tonnes of steel scrap in January and 639,148 tonnes in February to make a combined 1.14 million tonnes. That was down from the 1.54 million tonnes exported over the same period of 2020, customs da...Read More

Coal exports from Australia's Queensland state were down by 4.85% year on year in March, according to data from the North Queensland Bulk Ports Corp and Gladstone Ports Corp. Queensland, Australia's metallurgical coal hub, exported 15.71 million tonnes of coal - including small volumes of thermal coal - in March, compared with 16.51 million tonnes a year earlier, the latest data from the two port...Read More

China's imports of copper concentrate reached 2.1 million tonnes in March to set a new highest monthly record, customs data out on Tuesday April 13 shows. "The robust imports in March came after weaker shipment [volumes] in February, presumably, due to the fact that high sea waves at Chilean ports caused a delay. The higher concentrate imports came amid rising smelter production that requires raw...Read More

China's domestic hot-rolled coil prices continued to rise on Wednesday April 14 amid declining inventories.DomesticEastern China (Shanghai): 5,490-5,530 yuan ($839-845) per tonne, up 30-80 yuan per tonneMajor warehouses in Shanghai had a total of 445,800 tonnes of HRC on Wednesday, down by 27,900 tonnes from 473,700 tonnes a week earlier, according to a survey by a domestic trading company.The dro...Read More

The London Metal Exchange three-month aluminium price reached a new year-to-date high on Wednesday April 14 morning, while the rest of the complex was trending higher on support from a lower US dollar index.LME aluminium's price reached $2,322 per tonne around 9:30am on higher volumes, trading over 4,500 lots by that time, that surpassed copper, which was trading around 3,800 lots. This is th...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday April 14, and broader markets were pleased US consumer prices did not shock to the upside, but markets are likely to remain wary in case corporate earnings do not live up to high expectations.Tuesday's US consumer price index (CPI) reading climbed by 0.6% in March, slightly higher than...Read More