Gunnar Groebler has taken over the position of chairman of the executive board and chief executive officer of German steelmaker Salzgitter, the company said on July 1.He replaces Heinz J??rg Fuhrmannm, who has retired.Groebler intends to further the development of Salzgitter as a future-oriented steel and technology group, with a focus on the company's...Read More
Kalidas Madhavpeddi has been appointed as the new chairman at Glencore, the commodities company announced on Monday July 5.Madhavpeddi will take over from retiring chairman Tony Hayward on July 30. Currently non-executive director of Novagold Resources Inc, Trilogy Metals Inc and Dundee Precious Metals Inc, Madhavpeddi has more than 40 years of experience in the international mining...Read More
Kalidas Madhavpeddi has been appointed as the new chairman at Glencore, the commodities company announced on Monday July 5.Madhavpeddi will take over from retiring chairman Tony Hayward on July 30. Currently non-executive director of Novagold Resources Inc, Trilogy Metals Inc and Dundee Precious Metals Inc, Madhavpeddi has more than 40 years of experience in the international mining...Read More
Base metals price movements on the London Metal Exchange were mixed during trading on Monday July 5, with copper and tin making the best showings among the complex.Copper's three-month price rallied upward by more than $130 per tonne during Monday's trading, to $9,511 per tonne at the 5pm close, from $9,376.50 per tonne on Friday, despite only 12,404 lots being traded during the day.While the stro...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More
CIS export billet prices fell on Monday July 5, with customers pushing for lower rates because Russian mills are now looking to sell volumes ahead the introduction of an export duty in August.On Friday June 25 the Russian government approved a temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU). The duties will apply from August 1 through to...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More
Tina Litzinger has been appointed as Vale's head of nickel sales west.Litzinger will be responsible for the company's sales of nickel and cobalt...Read More
Base metals production in Peru increased significantly year-on-year during May due to the strong effects of the Covid-19 pandemic in 2020, but figures were also up on a monthly basis on better performances by the largest mines, the country's ministry of energy and mines, Minem, said on Friday July 2.Copper output totaled 195,999 tonnes in May, up by 52.63% from 128,412 tonnes in the corresponding...Read More
Market sources in Asia were still weighing the news of Russia's plan to impose an export tax on ferrous and non-ferrous products, but there were growing expectations on Monday July 5 that the fourth-quarter premium for aluminium imports on a cif main Japanese ports (MJP) basis would rise even higher than the current level.Russian aluminium will carry an export duty of 15% plus $254 per tonne from...Read More
Brazilian slab prices remained stable for the fourth consecutive assessment period in the week ended Friday July 2, with buyers and sellers continuing to dispute the price level.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil, was $980-1,000 per tonne fob on July 2, unchanged since June 4.A little activity was seen during the week, with the market beginning to transitio...Read More
The latest data for the global manganese ore market for the week ended July 2, 2021.Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely stable in the week to Monday July 5, aided by solid demand from construction.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 72,500-75,000 ($990-1,024) roubles per tonne on Monday, including 20% value-added tax, unchanged from last week.High const...Read More
The domestic market for flat steel in Russia's Central Federal District around Moscow was broadly stable during the week to Monday July 5, with trading remaining slow amid expectations that prices will decline in July due to the effects of export duties, sources told Fastmarkets.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 105,00...Read More
Pakistan's government has removed some duties on imports of hot-rolled and stainless flat steel in its annual budget for 2021-2022, the Karachi Iron & Steel Merchants Association told Fastmarkets on Monday, July 5.The government made the announcement in its latest official budget statement, having suggested that it was a possibility on June 11.The annual budget was approved on June 29, and came in...Read More
Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.Markets taking comfort from Friday's US employment report. Markets likely to be quiet with the United States celebrating Sunday's Independence DayBase metalsLME three-month l...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
ArcelorMittal will invest 750 million Reais ($148 million) in projects to strengthen environmental controls at its Tubar??o slab and hot-rolled coil facility in Brazil's southeastern state of Esp?-rito Santo.The investment will be part of a deal signed in 2018 with state and federal authorities, in which the company committed to a series of operational actions and investments intended to...Read More
China's nickel sulfate price rose in the week ended Friday July 2, supported by a continuous shortage of mixed hydroxide precipitate (MHP) due to strong demand from the electric vehicle (EV) market, but sentiment has turned cautious amid the elevated price levels.Fastmarkets' weekly price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, at 34,500-35,000 yuan ($5,329-5...Read More
European buyers were insisting on lower domestic prices for hot-rolled coil although the availability of the material remained short, sources told Fastmarkets on Monday July 5.Buyers were reluctant to continue paying high prices for coil, and have been limiting their purchases in terms of both number and volumes, market sources said.Long lead times from domestic producers, sufficient stocks among...Read More