The United States nickel briquette premium dipped at the top end of the range in the week to Tuesday May 5, pushed lower by increased selling momentum at lower levels, while nickel premiums in Europe and China remained flat.?EUR? Virus-weakened demand pushed US briquettes premiums lower?EUR? China public holidays and a lack of arbitrage opportunities kept regional premiums unchanged?EUR? Lack...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More
Ailing silicon producer Ferroglobe will delay filing its 2019 annual report by up to six weeks as a result of the Covid-19 pandemic, the company announced last week."With the uncertainties created by the Covid-19 pandemic and potential implications for Ferroglobe's operating environment and financial results, the company continues to prepare financial scenarios for the near term, which its externa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Turkish steel producers avoided the deep-sea scrap market on Wednesday May 6, amid lower finished steel output in Turkey, due to the measures introduced to curb the spread of the Covid-19 virus, sources told to Fastmarkets.The most recent deep-sea transaction took place at the end of the last week when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne for HMS 1&2...Read More
Christophe Koenig has been appointed head of global sales and marketing at Nornickel, the world's largest nickel and palladium producer. He will also become chief executive officer of Metal Trade Overseas AG, Nornickel's Switzerland-based sales division. Koenig previously managed sales...Read More
Broader markets were mixed this morning, Wednesday May 6, while base metals prices on the London Metal Exchange were up across the board. Base metals prices on the Shanghai Futures Exchange were mixed following Chinese participants' return to the market after the country's Labor Day holiday (May 1-5).Asian-Pacific and pre-market western equity indices were mixed this morning.Markets should be brac...Read More
Domestic prices for heavy steel plate in Europe have decreased over the past week due to poor demand, sources told Fastmarkets on Wednesday May 6.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe was ?,?480-490 ($522-532) per tonne on May 6, down by ?,?10 per tonne from ?,?490-500 per tonne on April 29.The assessment is based on lower offers heard in t...Read More
Domestic prices for hot-rolled coil in Europe dropped again in the week to Wednesday May 6 due to slow trading activity, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?421.50 ($458.02) per tonne on Wednesday, down by ?,?1.50 per tonne from ?,?423.00 per tonne on Tuesday.Wednesday's index was calculated based on "workable" prices...Read More
Demand for flat steel products in Turkey was moderate in April despite the Covid-19 pandemic due to low stocks in the country, sources told Fastmarkets on Wednesday May 6.Turkish flat steel producers are fully booked until late June.Several carmakers stopped production in the country in March and April, but most have now resumed, or are planning to resume output in April and May.Steel output was a...Read More
US steel imports surged in April on the re-opening of quarterly quota limits on slab from Brazil - and despite double-digit declines for some finished steel goods.The US imported 2.68 million tons of steel last month, up by 68.9% from March but down by 11.3% from April 2019, according to license data from the US Department of Commerce's Enforcement and Compliance division last updated on Tuesday M...Read More
New orders in May are set to fall by 25% from a typical month - less than the 60% decrease seen at the end of March and in April - as steel demand starts to recover from the Covid-19 crisis in Brazil, Gerdau chief executive officer Gustavo Werneck said on Wednesday May 6.Construction site work in Brazil was down by 6% from the period before regional government quarantines to prevent the Covid-19 s...Read More
Brazil-based steelmaker Gerdau expects the No2 blast furnace at its Ouro Branco mill - in the southeastern state of Minas Gerais - to resume production between the end of June and the beginning of July, chief executive officer Gustavo Werneck said on Wednesday May 6.The blast furnace was idled in early April amid tumbling demand due to the Covid-19 pandemic and falling export prices. It has capaci...Read More
Turkish steel producers avoided the deep-sea scrap market on Wednesday May 6, amid lower finished steel output in Turkey, due to the measures introduced to curb the spread of the Covid-19 virus, sources told to Fastmarkets.The most recent deep-sea transaction took place at the end of the last week when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne for HMS 1&2...Read More
The seaborne iron ore market uptrend resumed on Wednesday May 6 due to more active trading after Chinese market participants returned from the Labor Day holiday on May 1-5. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.35 per tonne, up $0.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.24 per tonne, down $0.46 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $72.81 p...Read More
Steel billet producers in Iran have been active in the Southeast Asian market in the week to Wednesday May 6, Fastmarkets has learnt.Several cargoes of Iranian billet scheduled for production and shipment in May were reported sold within the range of $340-342 per tonne to Thailand and Indonesia, sources said.A cargo scheduled for the Indonesian market was reported sold at $365-367 per tonne cfr, w...Read More
China's domestic rebar prices moved up on Wednesday May 6 after a five-day break for Labor Day amid a drop in spot market inventory levels and rising futures. Domestic Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, up by 20 yuan per tonne China's 20 biggest rebar markets had 8.31 million tonnes of the product at the end of April, down by 610,000 tonnes (6.8%) from April 20,...Read More
High-carbon ferro-chrome traded in a wider range last week as market participants weighed the impact of a near-term pick-up in demand against the longer-term impact of Covid-19 on the alloys markets. The price spread for high-carbon ferro-chrome in Europe widened by a couple of cents per lb to $0.17 per lb in the week ended Friday May 1. Fastmarkets' price assessment for ferro-chrome high carbon 6...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 6 that are worth another look.Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation.Stainless steel prices in China were largely unchanged in the week to May 6, with market participants in t...Read More