ArcelorMittal has again increased its official offer prices for all steel coil products in Northern Europe by ?,?20-50 ($24-60) per tonne, sources told Fastmarkets on Thursday April 29.The steelmaker had already increased its offers three times in April.With this latest increase, offer prices for hot-rolled coil reached ?,?1,020 ($1.233) per tonne ex-works, up by ?,?20 per tonne from the most rece...Read More
Domestic prices for flat-rolled steel in the United States are expected to remain high throughout the second quarter, but decrease slightly in the third and fourth quarters, although not significantly, Ternium chief executive officer M??ximo Vedoya said on Wednesday April 28.The executive said demand in the US was strong, and he doesn't expect any material improvement on the supply side this year....Read More
China will remove the export tax rebate for some steel products from May 1, the Ministry of Finance said on Wednesday April 28.Steel products with HS codes 7205-7307 will be affected, which includes hot-rolled coil, rebar, wire rod, hot rolled and cold-rolled sheet, plate, H beams and stainless steel, the ministry said.Market chatter about the cancellation of steel export rebate rates have be...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 29 that are worth another look.Major Indian steelmaker JSW Steel is reducing steel production to ensure that sufficient oxygen is sent from its plants to the healthcare sector to help combat the surge in Covid-19 cases in...Read More
Information about a new tax regime for imports of steel billet into China, to start on Saturday May 1, has added to the bullish sentiment among CIS billet exporters.On Wednesday April 28, China's ministry of finance announced that, in order to better guarantee the supply of steel resources and promote the high-quality development of the domestic steel industry, the import tariff for certain steel...Read More
ArcelorMittal has again increased its official offer prices for all steel coil products in Northern Europe by ?,?20-50 ($24-60) per tonne, sources told Fastmarkets on Thursday April 29.The steelmaker had already increased its offers three times in April.With this latest increase, offer prices for hot-rolled coil reached ?,?1,020 ($1.233) per tonne ex-works, up by ?,?20 per tonne from the most rece...Read More
The three-month price of copper breached the $10,000-per-tonne mark on the London Metal Exchange during trading on Thursday April 29, while zinc and aluminium also reached fresh year-to-date and multi-year highs, driven by overall bullish sentiment.Most metals set their new highs during early trading, when the US Dollar Index was around its two-month low of 90.47 on Thursday morning. But when the...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 29 that are worth another look.Major Indian steelmaker JSW Steel is reducing steel production to ensure that sufficient oxygen is sent from its plants to the healthcare sector to help combat the surge in Covid-19 cases in...Read More
Aluminium producer Rusal has appointed Roman Andryushin to the position of deputy chief executive officer of sales in Russia, the Commonwealth of Independent States (CIS) and China, the company said on Thursday April 29.Rusal also said Steve Hodgson will be returning to the company as director of sales and marketing, responsible for commercial operations and aluminium sales in the European, A...Read More
The three-month price of copper breached the $10,000-per-tonne mark on the London Metal Exchange during trading on Thursday April 29, while zinc and aluminium also reached fresh year-to-date and multi-year highs, driven by overall bullish sentiment.Most metals set their new highs during early trading, when the US Dollar Index was around its two-month low of 90.47 on Thursday morning. But when the...Read More
Base metals prices on the London Metal Exchange were higher across the board during morning trading on Thursday April 29, supported by a weaker dollar and bullish sentiment. Copper continues to drive the rest of the complex upward - the three-month price was trading $96 per tonne higher at $9,972 per tonne this morning. It hit a high of $9,999.50 per tonne earlier; the all-time high for the three-...Read More
With the exception of lead on the Shanghai Futures Exchange, base metals prices were stronger this morning, Thursday April 29, reassured that Federal Reserve would keep policy loose and because United States President Joe Biden pumped up the outlook for the US by saying the country is "ready for takeoff". Tin leapt higher on the LME on Wednesday, with the SHFE contract catching up today...... Mala...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on May 3 or 4 because of recent changes to the public holiday schedule in Ukraine. Instead, the prices will be published on May 5.The prices affected will be:MB-STE-0012 Steel cold-rolled coil, export, fob Black Sea, CIS, $ per tonneMB-STE-0013 Steel heavy plate, 8-50mm, export, fob Black Sea, CIS, $ per to...Read More
Turkish steelmakers took a break from deep-sea scrap purchases to monitor conditions in the finished steel markets on Thursday April 29, ahead of a 17-day coronavirus lockdown, sources told Fastmarkets.The most recent deep-sea trade was recorded on Wednesday April 28, when a steel mill in northern Turkey was heard booking 22,000 tonnes of HMS 1&2 (80:20) from the Baltic Sea at $432 per tonne cfr.T...Read More
Continued problems with the sourcing of semiconductor chips could start to affect the revenues of Kaiser Aluminum's automotive unit in the second half of the year, the semi-fabricated speciality aluminium producer has warned.The United States-based company has experienced slight delays in some automotive application programs in the first quarter of the year, it said on Thursday April 29, mainly du...Read More
The demand for nickel and cobalt as battery materials for electric vehicles (EV) will keep their long-term bullish fundamentals intact, according to Canadian miner Sherritt International.Over the past six months, numerous carmakers and governments have announced plans for significant investments to expand EV production capacity to meet growing demand, the company said.Sherritt produces nickel plus...Read More
Visible progress has been made toward network readiness and the availability of 5G telecommunications in the first quarter of 2021, after delays last year resulting from the Covid-19 pandemic, sources have told Fastmarkets.There has been already a significant ramping-up of the uptake of 5G devices so far this year. The Global Mobile Suppliers Association (GSA), in its 5G devices summary for March...Read More
A summary of Canada-headquartered Lundin Mining's output figures for the first quarter of 2021, as stated in its production report published on Wednesday April 28.In brief Lundin's Candelaria mine in Chile, and the Chapada mine in Brazil, increased mill throughput in the first quarter after disruptions reported in the last three months of 2020. Copper production fell year on year due to lower copp...Read More
ADC 12 aluminium alloy prices in China rose on Wednesday April 28, due to higher production costs and reduced supplies, caused by a month of environmental inspections in Jiangxi province.China's Environmental Protection Inspection Team is conducting checks in Jiangxi until May 7 and many ADC 12 producers there have lowered their output while the checks take place."We heard that producers in Jiangx...Read More
Fastmarkets has corrected its weekly price assessment for Aluminium ingot ADC 12, exw dp China, yuan/tonne, which was published incorrectly on Wednesday April 28 due to a reporter error.The assessment should have been 17,900-18,300 yuan per tonne, rather than 17,900-18,200 yuan per tonne, which was the previous week's range.This has now been corrected in Fastmarkets' pricing database, MinD.For mor...Read More