The Mexican government has announced a plan to gradually eliminate an existing safeguard duty of 15% on several steel products.The duty on steel imports classified under 186 tariff codes will remain at 15% until September 2021, when it will be reduced to 10%, according to the country's...Read More
Steelmaking restrictions planned for China's northern region - where the concentration of mills are the highest in the country - during the autumn-winter period appear to be looser this year compared with the corresponding period of last year.While no official guidelines have emerged, a draft of measures to control air pollution in 28 cities in the region during the October-March period has been c...Read More
Turkey produced 22.55 million tonnes of crude steel in January-August 2019, down by 10.46% from 25.19 million tonnes in the corresponding eight-month period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
Gold prices ended the week with a loss on Friday on the back of overall strength in the U.S. dollar, but held ground above the key $1,500-an-ounce mark as U.S. stocks traded lower following a report that the U.S. is looking to limit U.S. portfolio investments into China. The Trump administration is considering delisting Chinese companies from U.S. stock exchanges as one of the options to limit in...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
If the banks don't keep adding to their shorts, a significant rally could be close at hand. Ted explains...by Chris Marcus via Arcadia EconomicsLast week the Department of Justice not only charged several JP Morgan traders with manipulating the market, but even invoked the RICO act, which is traditionally reserved for organized crime cases.Of course for those who have been following Ted Butler's r...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
One of the downsides to saving large sums of cash is it starts to burn a hole in your pocket.When I was a kid, my grandparents would occasionally give me a $10 bill after I'd go visit for a week. I had zero tolerance for saving back then, so I would spend it on candy and comic books almost immediately.Since then, I've built up a pretty good tolerance against spending cash. I've seen too many finan...Read More
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