Bolivia-based zinc-lead producer Minera San Crist??bal halted production indefinitely on Monday August 24 to ensure its workers' health and safety, because the local Covid-19 infection rate has climbed, the company said.Employees and contractors have been removed from the site since August 19 and would be kept away until August 26, the miner said in a statement published on its official website on...Read More
Jean Goldschmidt International (JGI) and Zinc Nacional (ZN) have entered into an agreement to acquire the zinc recycling business of Harz-Metall GmbH (HMG) in Lower Saxony, Germany. The transaction is subject to different conditions regarding the transfer of the real estate of HMG, JGI said in a release on Friday August 21. The company did not disclose the price for the deal. "For purposes of...Read More
London-based metals trading firm Amalgamet Ltd, part of Amalgamated Metal Corp (AMC Group), is expanding its commodity trade finance business, it said on Friday August 21."Amalgamet Ltd will look to build relationships with producers, manufacturers, traders and end-users in the minor metals industry to offer an alternative financing route from the usual banks," the company said.It trades in non-fe...Read More
Three-month base metals prices on the London Metal Exchange were up during morning trading on Monday August 24, with market optimism over a Covid-19 vaccine rising after US regulators approved the use of convalescent blood plasma as a treatment option, while continued weakness in the US dollar index also provided support. Total coronavirus deaths in the United States have now surpassed 175,000 acc...Read More
Hot-rolled coil prices in the United States have climbed back above $24 per hundredweight ($480 per short ton) on modestly rising demand and longer lead times. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.16 per cwt ($483.20 per ton) on Monday August 24, up by 2.5% from $23.57 per cwton Friday August 21 and up by 2.1% from $23.67 per cwt a week ago on August 17...Read More
Prices for carbon steel plate in the United States retreated to an almost-four-year low after market participants said evidence has mounted that there simply will not be much demand for plate in 2020.Producers thought prices had already bottomed this summer, but at least two US mills discounted prices again in August. Demand remains weak in end-use sectors ranging from the oil and gas industry to...Read More
Special bar quality (SBQ) steel prices in the United States have declined once again due to persistent demand weakness and lower raw material costs, according to market sources. On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US slipped to $31.25 per hundredweight ($625 per sh...Read More
Declining ferrous scrap costs pushed the price of cold-heading quality (CHQ) wire rod lower, while the price for high-carbon wire rod was unchanged, Fastmarkets learned. Fastmarkets' assessment for steel wire rod cold-heading quality, ddp settled at $35.50 per hundredweight ($710 per short ton) on Friday August 21, down 2.7% from $36.50 per cwt last month.The cost of steel scrap No1 busheling, del...Read More
Austrian steelmaking group Voestalpine plans to resume operation of a small blast furnace (BF) at Linz in Austria, the company said on Friday August 21.Production from the unit was temporarily shut down in March, following the abrupt slump in customer demand caused by Covid-19."The gradual revival of demand - which is most pronounced in the automotive, electrical and processing...Read More
Prices for steel rebar in Russia's Central Federal District around Moscow moved up in the week to August 24 on bullish offers from producers while buyers doubt the scale of increase the market can actually accept, sources told Fastmarkets on Monday.Prices for steel rebar in Russia's Central Federal District around Moscow moved up in a week to August 24 on bullish offers from producers while buyers...Read More
The steel recycling division of Tata Steel has announced it is launching a mobile app for sourcing steel scrap in India, the company said on August 19.The app - named FerroHaat - claims to be a world first and aims to source steel scrap from traders in India. The app is a step toward organizing the currently disorganized Indian scrap supply chain,while also providing a reliable source of scrap met...Read More
German steelmaker Salzgitter is to offer "green" strip steel to the market before the end of this year, the company announced last week.Before the end of this year, the company will be able to offer a range of green strip steel products in specified grades and dimensions, it said on August 18. The company is moving on "vibrant interest being expressed in these materials," it added.To enable produc...Read More
Turkish domestic auto bundle scrap prices declined slightly over the past week in line with the downturn in domestic long steel demand and prices, sources said on Monday August 24.Domestic long steel prices went down in Turkey last week amid poor demand and a slight recovery in the Turkish currency, Fastmarkets heard.Following the downturn in domestic rebar and wire rod prices, some mills - and a...Read More
Seaborne iron ore prices eased for the second consecutive trading session on Monday August 24 amid limited trading activity, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $125.23 per tonne, down by $2.15 per tonne.62% Fe low-alumina fines, cfr Qingdao: $124.78 per tonne, down by $1.93 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $111.21 per tonne, dow...Read More
Seaborne coking coal prices were relatively flat on Monday August 24 due to a lack of transactions, sources told Fastmarkets. Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.09 per tonne, down $0.62 per tonne Premium hard coking coal, cfr Jingtang: $114.63 per tonne, unchangedHard coking coal, fob DBCT: $85.19 per tonne, unchangedHard coking coal,...Read More
Seaborne iron ore concentrate and pellet prices rose again in the week ended Friday August 21 amid rising futures despite a weakening of demand, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $130 per tonne, up $4.75 per tonne65% Fe blast furnace pellet, cfr Qingdao: $139.27 per tonne, up $5.13 per tonneKey driversMarket participants said that the surge in th...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
Chinese silicon exporters raised offer prices in the week to Friday August 21 because of the unavailability of cheap material from domestic producers given tight spot supply, but overseas consumers have found higher prices almost impossible to accept, Fastmarkets learned. Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,420-1,480 per tonne on Friday, up b...Read More
India's ministry of steel has helped to establish a working group involving South Korean steelmaker Posco and state-owned Indian producer Vizag Steel (RINL) over the building of a new plant to produce special steels.A memorandum of understanding (MoU) was signed last year between the companies on the building of a plant, according to India's Economic Times newspaper on Sunday August 23.A spokesman...Read More