Egypt's ministry of industry and trade has imposed an anti-dumping duty on pre-stressed concrete steel strands from China, Turkey and Tunisia, imported under HS code 73089010, Egyptian sources have told Fastmarkets.The product is mostly used by the cable industry.The anti-dumping duty, which took effect...Read More

Brazilian steelmaker Gerdau will invest around 1 billion Reais ($179 million) to modernize and expand production capacity at its special steel division in Brazil amid an expected recovery in demand from both the automotive and capital goods industries, the company said on Monday April 19.The bulk of that investment is aimed at its unit in Pindamonhangaba, in southeastern S??o Paulo state. Gerdau a...Read More

The price of hot-rolled coil continues to rise across Europe, with the upward trend being driven by a persistent material shortage, sources told Fastmarkets on Tuesday April 20.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?953.75 ($1,145.38) per tonne on Tuesday, up by ?,?12.08 per tonne from ?,?941.67 per tonne on April 19.The index was also up...Read More

Egypt's ministry of trade and industry reduced the safeguard duties on imports of steel billet, wire rod and rebar with effect from April 12, sources have told Fastmarkets.The safeguard duty on steel billet was now $46 per tonne, or 10% of the cif price. It had been $60 per tonne or 13% of...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe mining major today separately highlighted its exploration focus on copper, with the red metal reaching a nine-year high recently on the back of strong demand in China and ongoing disruptions to mine and scrap supply.Rio's initial 2021 programme at Solwezi was expected to include drilling at the Mitu...Read More

Are mining companies being held back by their board composition? SPONSOREDswannEmmerson's premium offeringSPONSOREDemmerson plcAlto emerging on song at SandstoneSPONSOREDalto metalsReady for development copper-gold projectSPONSOREDjosemaria resources incPilbara iron ore shipments on a 100% basis rose 7% to 77.8 million tonnes, just shy of Macquarie's forecast of 78.7Mt.Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationToronto-listed Turquoise Hill Resources (TRQ), which owns 66% of the mine and is in turn owned 50.8% by Rio, said cross-border concentrate shipments into China had partially resumed in mid-April.Oyu Tolgoi had declared force majeure in March in connection with customer contracts for concentrate, when shipment...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe development of each project has been halted by community resistance centred on fears about contamination of water sources."We have already decided this. Conga and Tia Maria are unviable cases. I have been a watchman and as a social fighter, I defend the aquifer buffers," Castillo said in Cajamarca, accord...Read More

Brazilian iron ore and base metals producer Vale signed a definitive agreement with Japanese trading company Mitsui on Monday April 19 to acquire the latter's interest in the Moatize coal mine and the Nacala Logistics Corridor, both in Mozambique.Vale said it expects to conclude the purchase of Mitsui's stake throughout 2021. The companies had reached a heads of agreement in January.These are the....Read More

Turkish steel producers continued to push for lower deep-sea scrap prices, while suppliers in the Baltic Sea and United States continued to maintain higher offers, market participants told Fastmarkets on Tuesday April 20.At least three deep-sea cargoes were booked on Friday April 16.The most recent was heard after the indices closed on Monday April 19.A steel mill in the Izmir region booked a Euro...Read More

Fastmarkets proposes to increase the frequency of its India ferrous shredded scrap index to twice each week because of continued price volatility in the market.The steel scrap shredded, index, import, cfr Nhava Sheva, India, is subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis. This means that the index, currently c...Read More

Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday. The US Dollar Index continues to trend lower.Base metalsLME three-month base metals prices were up by an average of 0.7% this morning, once again led by a 1.2% rise in...Read More

Demand and prices for steel billet in China were likely to be affected by new restrictions on re-rolling activity in the major production hub of Tangshan, sources have told Fastmarkets.Curbs on blast furnace-based sintering in Tangshan, together with solid demand for long steel products, has driven up billet consumption at some mills and re-rollers in the city this year. That has resulted in the p...Read More

Spot prices for imported ferrous scrap to China remained largely stable on Tuesday April 20, while cargoes of scrap booked in recent weeks have been gradually clearing customs, sources have told Fastmarkets.A steelmaker in north China had its first shipment of imported scrap successfully clear customs at Tianjin port on April 14, while a Chinese metals and minerals trading company had a cargo clea...Read More

Iron ore prices surged on Tuesday April 20 amid strong mill results, which reflect very healthy margins, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $189.61 per tonne, up $7.81 per tonne62% Fe low-alumina fines, cfr Qingdao: $190.03 per tonne, up $7.48 per tonne58% Fe fines high-grade premium, cfr Qingdao: $164.40 per tonne, up $6.91 per tonne65% Fe Brazil-origin fines, cf...Read More

Seaborne premium hard coking coal prices in the cfr China and fob Australia markets stayed largely stable on Tuesday April 20, sources told Fastmarkets.Both supply and demand for seaborne cargoes remained weak in the Chinese market while some gradual and necessary procurement activities took place in the fob market, market sources told Fastmarkets. Fastmarkets indices Premium hard coking coal, f...Read More

Italian domestic steel scrap prices have been largely unchanged in the month to Monday April 19, supported by limited availability of some grades of the material, market sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy was unchanged over the month at ?,?335-345 ($402-414) per tonne on Monday.And the correspondi...Read More

The London Metal Exchange three-month nickel price rebounded on Tuesday April 20 morning following its 1.5% dip on Monday at the close, while copper continued its price rise.LME three-month nickel was at $16,240 per tonne at 9am, a 0.7% increase from its Monday closing price of $16,121 per tonne. The metal fell by 1.5% on Monday from Friday's close of $16,363 per tonne following news that the...Read More

Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday.The US Dollar Index continues to trend lowerBase metalsLME three-month base metals prices were up by an average of 0.7% this morning, once again led by a 1.2% rise in co...Read More

Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday April 16.Key driversChina The price of silicon in China continued to drop after a previous rally, and leading producers reduced their offer prices for the domestic market. Numbers of deals and inquiries thinned, with buyers holding back. Sources expected the market to have more supply, with producers...Read More