Brazilian steelmaker Gerdau will restart operations at its Arauc??ria unit, in the country's southern Paran?? state, after 6.5 years of downtime, the company said on Thursday April 22.Production will resume at a gradual pace, depending on domestic market developments, Gerdau said. Total crude steel capacity at the site is 420,000 tonnes per year, it added in a filing to Brazil's securities and exc...Read More
Vale was authorized by environmental regulators of the southeastern Rio de Janeiro state to maintain activities at its Gua?-ba Island iron ore terminal in Mangaratiba, after the local city hall ordered it to be suspended, the company said on Thursday April 22.Early on Thursday, Vale announced that it had been notified of a temporary stoppage order for the terminal issued by the Mangaratiba municip...Read More
Turkish steel mills continued to book deep-sea scrap for June shipment, supported by strong export demand for rebar, market participants told Fastmarkets on Thursday April 22.A steel mill in the Iskenderun region booked a Venezuelan cargo, consisting of 25,000 tonnes of HMS 1&2 (80:20), at $424.50 per tonne cfr.This compared with the most recent Baltic Sea cargo, which was booked at $427 per tonne...Read More
The price of high-grade 65% Fe iron ore fines looks set to break through the $230-per-tonne-cfr-Qingdao price ceiling amid tight supply of seaborne cargoes and hefty mill margins, industry sources told Fastmarkets. Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao stood at $221.90 per tonne on Wednesday April 21, up 12.6% from $197.10 per tonne on April 1. The price spre...Read More
Turkish steel billet prices increased over the past week in line with improving demand for billet and rebar in the export market, sources said on Thursday April 22.Fastmarkets' weekly price assessment for steel billet, domestic, exw Turkey was $590-600 per tonne on Thursday, up from last week's $580-585 per tonne.A steel mill in northern Turkey was heard selling a significant volume of billet to t...Read More
China's domestic rebar prices increased again on Thursday April 22, hitting a new 12-year high following futures gains - although market participants remain unconvinced there will be any further price rises.DomesticEastern China (Shanghai): 5,070-5,100 yuan ($776-780) per tonne, up by 30 yuan per tonne Prices broke the recent record of 5,050-5,090 yuan per tonne achieved on April 6. Rebar futures...Read More
Vale was authorized by environmental regulators of the southeastern Rio de Janeiro state to maintain activities at its Gua?-ba Island iron ore terminal in Mangaratiba, after the local city hall ordered it to be suspended, the company said on Thursday April 22.Early on Thursday, Vale announced that it had been notified of a temporary stoppage order for the terminal issued by the Mangaratiba municip...Read More
Tata Steel has filed a lawsuit against Liberty Steel over its speciality steel business deal made in 2017, Fastmarkets heard on Thursday April 22.A Tata Steel spokesperson confirmed the company has filed a commercial court claim against Liberty Steel concerning the speciality steel division deal, however, the spokesperson declined to go into more details because this is an active case.Liberty Stee...Read More
Anglo American has revised down its overall 2021 production guidance for coking coal to 14-16 million tonnes, from 18-20 million tonnespreviously.In the first quarter of 2021, export coking coal production in Anglo American's Australian mines in Queensland's Bowen Basin fell by 14% year on year and 22% quarter on quarter to about 3.3 million tonnes, according to the company's latest quarterly repo...Read More
Vale was authorized by environmental regulators of the southeastern Rio de Janeiro state to maintain activities at its Gua?-ba Island iron ore terminal in Mangaratiba, after the local city hall ordered it to be suspended, the company said on Thursday April 22.Early on Thursday, Vale announced that it had been notified of a temporary stoppage order for the terminal issued by the Mangaratiba municip...Read More
LME aluminium's three-month price surpassed its 2018 high in intraday trading on Thursday April 22, with lead's price up by 1.3%, while nickel and copper retreated from their Wednesday prices at the close. Aluminium's price reached $2,375 per tonne on Thursday, taking out the May 2018 high of $2,374.50 per tonne to stand at a level last seen in October 2010. But the light metal closed at $2,3...Read More
The persistent shortage of hot-rolled coil in Europe continues to drive prices upward, with steelmaker ArcelorMittal increasing its offer prices for the third time so far in April, Fastmarkets heard on Thursday April 22.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?965.00 ($1,160.35) per tonne on Thursday, up by ?,?8.75 per tonne from ?,?956.25...Read More
Turkish steel billet prices increased over the past week in line with improving demand for billet and rebar in the export market, sources said on Thursday April 22.Fastmarkets' weekly price assessment for steel billet, domestic, exw Turkey was $590-600 per tonne on Thursday, up from last week's $580-585 per tonne.A steel mill in northern Turkey was heard selling a significant volume of billet to t...Read More
The price of high-grade 65% Fe iron ore fines looks set to break through the $230-per-tonne-cfr-Qingdao price ceiling amid tight supply of seaborne cargoes and hefty mill margins, industry sources told Fastmarkets. Fastmarkets' index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao stood at $221.90 per tonne on Wednesday April 21, up 12.6% from $197.10 per tonne on April 1. The price spre...Read More
LME aluminium's three-month price surpassed its 2018 high in intraday trading on Thursday April 22, with lead's price up by 1.3%, while nickel and copper retreated from their Wednesday prices at the close. Aluminium's price reached $2,375 per tonne on Thursday, taking out the May 2018 high of $2,374.50 per tonne to stand at a level last seen in October 2010. But the light metal closed at $2,3...Read More
Iron ore prices fell on Thursday April 22 after fresh tensions between Australia and China emerged and further emissions restrictions were introduced in the Chinese steel hub of Handan city, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $183.62 per tonne, down $4.61 per tonne62% Fe low-alumina fines, cfr Qingdao: $185.38 per tonne, down $3.29 per tonne58% Fe fines high-grade...Read More
Aluminium prices on the London Metal Exchange set fresh multi-year highs on Wednesday April 21, while copper and tin shied away from previous highs, and the rest remain rangebound this morning.India reported 315,000 new Covid-19 infections on WednesdayHaven assets on the riseBase metalsLME three-month base metals prices were down across the board by an average of 0.4% this morning, but volume has...Read More
Turkish steel mills continued to book deep-sea scrap for June shipment, supported by strong export demand for rebar, market participants told Fastmarkets on Thursday April 22.A steel mill in the Iskenderun region booked a Venezuelan cargo, consisting of 25,000 tonnes of HMS 1&2 (80:20), at $424.50 per tonne cfr.This compared with the most recent Baltic Sea cargo, which was booked at $427 per tonne...Read More
Turkish domestic rebar and wire rod prices have increased over the past week amid rising imported scrap costs and strong export demand. But the overall demand in the local market was still sluggish, sources said on Thursday April 22.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 5,950-6,100 lira ($728-747) per tonne on Thursday, up from last week'...Read More
Antofagasta Minerals has reduced the number of workers at its mining operations and offices, and has postponed maintenance at one of Chile's largest copper mines, Los Pelambres, due to the appearance of a new wave of Covid-19 infections in the country, the company said on Thursday April 22.In March, Chile recorded the start of a second wave of Covid-19 infections with a sharp increase in case numb...Read More