Some flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase this week, but demand was still weak, sources told Fastmarkets on Tuesday September 1.No deals were heard during the week because buyers preferred to wait for prices to fall.UAEOffer prices for hot-rolled coil (HRC) from India were heard in the UAE at $535-540 per tonne cfr, and Saudi Arabian HRC was o...Read More
The price for steel rebar imported into the United Arab Emirates increased this week because of high production costs, market sources said on Tuesday September 1.Domestic rebarSince August 17, rebar producers in the UAE have been offering the material at 1,800-1,830 dirhams ($490-498) per tonne ex-works for orders to be produced in September, and deals were heard during the week at 1,730-1,800 dir...Read More
Markets were for the most part upbeat this morning, Tuesday September 1, with all the metals on the London Metal Exchange firmer, as were pre-market major western equity index prices.China’s Caixin manufacturing purchasing managers’ index (PMI) beat expectations with a reading of 53.1 for August, compared with 52.8 in July. This was enough to send three-month LME copper prices to levels...Read More
U.S. equity index futures were mostly higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Zoom advanced $11.90 to $238.00 after reporting higher than consensus second quarter revenues and earnings. The company also raised guidance. JP Morgan and Stiffel Nicolaus raised their target price on the stock.Eastman Kodak gained $1.89 to $7.87 on news that DE Shaw acquired a 5....Read More
Turkish steel mills extended their silence in the deep-sea scrap import market after booking a number of cargoes in the last week, sources said on Tuesday September 1.Six deep-sea cargoes totaling around 220,000 tonnes were booked by Turkish steelmakers from various sources at strengthening prices during the week to Friday August 28.The most recent deep-sea deal - booked on August 26 - put the pri...Read More
ArcelorMittal is preparing to restart two blast furnaces at its Asturias plant in Spain and Fos-sur-Mer plant in France this month, the company said on Tuesday September 1. The decision to bring the capacities back is connected to the relining of a BF at ArcelorMittal Gent in Belgium, the company said. ArcelorMittal Fos-sur-Mer The company will resume operations at BF No1 at Fos-sur-Mer plant in t...Read More
Swedish steelmaker SSAB, state-owned iron-ore producer LKAB and power company Vattenfall have started test production at their joint-venture pilot plant where they hope to produce direct-reduced iron (DRI) without the use of fossil fuels, the companies said on Monday August 31.The construction of the pilot plant was started in June 2018 with support from the Swedish Energy Agency.At the plant, the...Read More
Turkish domestic auto bundle scrap prices increased over the past week in response to rising finished long steel values, sources said on Tuesday September 1.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,890-2,155 lira ($258-294) per tonne on Tuesday, up from 1,870-2,085 lira per tonne a week earlier. ...Read More
Market participants believe iron ore concentrate premiums - rather than those for high-grade fines - will improve closer to the onset of winter when Chinese steelmakers start to adapt to strict anti-pollution measures imposed by authorities.Sintering restrictions usually cause demand for iron ore fines to fall compared to cleaner ore types. This is due to the higher levels of particulate pollution...Read More
Seaborne premium hard coking coal prices moved in different directions on Tuesday September 1, reflecting more activity in the fob market compared with the cfr market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.07 per tonne, up $0.48 per tonne Premium hard coking coal, cfr Jingtang: $114.49 per tonne, down $0.34 per tonneHard coking coal, fob DBCT: $85.76 per tonne,...Read More
Seaborne iron ore prices were rangebound on Tuesday September 1 while port side trading activity showed an increased interest toward low-grade fines, trade sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.66 per tonne, up $0.19 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $125.10 per tonne, up $0.89 per tonne.58% Fe fines high-grade premium, cfr Qingd...Read More
China's hot-rolled coil prices continued to rise on Tuesday September 1, with sellers raising offers on cost pressures.DomesticEastern China (Shanghai): 4,040-4,070 yuan ($590-594) yuan per tonne, widening upward by 20 yuan per tonneA Shanghai-based trader said some sellers had issued offers as high as 4,070 yuan per tonne during the day, though most transactions largely took place around 4,040-4,...Read More
China's domestic rebar prices were flat on Tuesday September 1 amid a tempered outlook for the market after a major mill kept its ex-works prices stable for early September.Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($536-540) per tonne, unchangedShagang, a major rebar producer in eastern China, rolled over its list price of 3,900 yuan per tonne for rebar booked in the September 1-10 peri...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process...Read More
South African manganese alloys producer Transalloys has declared force majeure after a fire at its plant in the country on August 22 that severely impacted the raw material handling system feeding its five furnaces, it was revealed over the weekend. No personnel were injured in the fire, the company said. The precise length of the force majeure is unclear at this stage, with the restoration of ful...Read More
World manganese ore output rose by around 4% in July from the prior month due to higher production across most global regions, the latest data from the International Manganese Institute (IMnI) shows. Global ore supply climbed to about 1.93 million tonnes of manganese units in July, marking increases of 4.2% month on month and 0.4% year on year respectively, according to IMnI data. Supply...Read More
Global silico-manganese output recorded a month-on-month increase of 2.7% to 1.45 million tonnes in July, with all regions monitored by the International Manganese Institute (IMnI) gaining on a monthly comparison. On an annual comparison, world supply of silico-manganese fell by 7.3%, data from IMnI showed. Of total supply, output in Asia and Oceania - the largest producing region - hit around 1.2...Read More
The latest data for the global manganese ore market for the week ended September 1, 2020.Read More
The first thought leadership panel of the Global Mining Symposium was focused on sustainability and the importance of the shift from commitments to action by the mining industry. Moderated by Henry Stoch, Deloitte's Canadian sustainability and climate change leader, the panel featured Marcia Smith, senior vice president, sustainability and external affairs with Teck Resources (TSX: TECK.B; NYSE: T...Read More