A summary of Brazilian mining company Vale's financial results for the second quarter of 2020, as stated in its earnings report released on Wednesday July 29.In briefFerrous division: Iron ore fines' realized price - after adjustments on both a cfr and fob basis - was $88.90 per tonne in the second quarter, down by 6% from $94.60 per tonne a year before. Pellet's realized price was $129.40 per ton...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 30 that are worth another look.Brazil's largest flat-rolled steel producer by capacity, Usiminas, is looking to correct the current domestic price discount to imports in the short term, commercial vice-president Miguel Homes said on July 30....Read More
Prices for cobalt salts, including cobalt tetroxide and sulfate, surged in the first half of this week, with suppliers refraining from offering large tonnages in the market. Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China was 190,000-195,000 yuan ($27,125-27,839) per tonne on Wednesday July 29, up by 10,000 yuan per tonne (5.5%) from 180,000-185,000 yuan per tonne...Read More
The price of steel scrap imported into Turkey rose further on Thursday July 30 on new bookings, continuing the trend started on July 29.A steel mill in the Iskenderun region booked two cargoes, one from the Baltic region and one from Western Europe.The first comprised 27,000 tonnes of HMS 1&2 (80:20) at $276 per tonne, 5,000 tonnes of bonus scrap at $286 per tonne and 3,000 tonnes...Read More
South Korean steelmakers were able to book bulk scrap cargoes from Japan over the past week at low prices although offers for US-origin deep-sea material continued to jump, sources have told Fastmarkets.Three cargoes of Japanese H2-grade scrap have been bought by a South Korean steelmaker at ?26,000 ($248) per tonne cfr over the past week, which would be equivalent to ?24,000 per tonne fob, Fast...Read More
ED&F Man's Ed Meir clinched the top spot on the base metals predictions leaderboard for the second quarter of 2020 with 98.87% accuracy while ING's Wenyu Yao took the top spot for precious metals predictions over the period with a 98.75% accuracy rating.For steel raw materials, Casper Burgering of ABN Amro topped the leaderboard with a 90.89% accuracy score. Click on the image below to download th...Read More
Base metals prices were for the most part firmer this morning, Thursday July 30, while broader markets were more mixed.The United States Federal Reserve provided more liquidity to international markets at its meeting that ended on Wednesday, but did not make any major changes. It also said that the path of the US economic recovery would depend on the course of Covid-19 in the country. Given the la...Read More
Two weeks after UC Rusal called for new Nornickel management and a relocation of its head office to Norilsk, Siberia - recently the center of three polluting events in six weeks - Nornickel has made several accommodations for its major shareholder. Rusal owns 27.82% of Moscow-based Nornickel.Having just announced multiple management changes, including the departure from public relations of a senio...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 30 that are worth another look.Brazil's largest flat-rolled steel producer by capacity, Usiminas, is looking to correct the current domestic price discount to imports in the short term, commercial vice-president Miguel Homes said on July 30....Read More
Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day on Thursday July 30, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?412.95 ($486.87) per tonne on July 30, up by just ?,?0.45 per tonne from ?,?412.50 per tonne on Wednesday July 29.Thursday's index was based on a deal heard at ?,?41...Read More
Turkish rebar export prices have increased over the past week amid rising imported scrap costs, although demand for material was still limited, sources said on Thursday July 30.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $420-430 per tonne on Thursday, up from the $415-425 per tonne of last week.The mills in Turkey raised their offers t...Read More
Prices in Egypt for steel billet imports and domestically produced steel rebar increased in the week to Thursday July 30 because of higher offers, despite soft demand, sources have told Fastmarkets.CIS-origin billet was offered this week at $415-425 per tonne cfr, up from offers at $405-410 per tonne cfr last week.Traders said that it was impossible to import billet because of the low rebar prices...Read More
A summary of ArcelorMittal Europe's financial results for the second quarter of 2020.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda) dropped due to lower steel shipments and lower steel sales prices in the quarter.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe averaged at ?,?420.46 ($494.23) per tonne in April-June 2020, compared with....Read More
The price of steel scrap imported into Turkey rose further on Thursday July 30 on new bookings, continuing the trend started on July 29.A steel mill in the Iskenderun region booked two cargoes, one from the Baltic region and one from Western Europe.The first comprised 27,000 tonnes of HMS 1&2 (80:20) at $276 per tonne, 5,000 tonnes of bonus scrap at $286 per tonne and 3,000 tonnes...Read More
ED&F Man's Ed Meir clinched the top spot on the base metals predictions leaderboard for the second quarter of 2020 with 98.87% accuracy while ING's Wenyu Yao took the top spot for precious metals predictions over the period with a 98.75% accuracy rating.For steel raw materials, Casper Burgering of ABN Amro topped the leaderboard with a 90.89% accuracy score. Click on the image below to download th...Read More
The state of the global iron ore supply remains a key risk factor for market participants in 2020 due to mining operations being affected by the Covid-19 pandemic, sources said.Market sentiment is mixed about whether the tight supply situation will persist in the second half of 2020, especially after Vale said its output for this year was likely to reach just the lower end of its forecast range."I...Read More
Prices in Egypt for steel billet imports and domestically produced steel rebar increased in the week to Thursday July 30 because of higher offers, despite soft demand, sources have told Fastmarkets.CIS-origin billet was offered this week at $415-425 per tonne cfr, up from offers at $405-410 per tonne cfr last week.Traders said that it was impossible to import billet because of the low rebar prices...Read More
Long-term uncertainty among consumers over end-user demand in Italy benefits downstream distribution network Metal Link who aims to serve consumer needs more quickly than producers who need consumers to have a clear order outlook for around 10 weeks.In an interview with Fastmarkets this month, the aluminium products distribution network said the economic uncertainty caused by Covid-19 offers busin...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects to increase its iron ore production from the third quarter, after transportation issues reduced output in the first six months of the year, the company's chief financial officer, Marcelo Ribeiro, said on Wednesday July 29.Own output and third-party purchases are estimated to be near the 10-million-tonne quarterly level during the s...Read More
The Technical Secretariat of Anti-Dumping (TSAIP) of the Gulf Co-operation Countries (GCC) has announced its preliminary determination in its steel safeguarding case, the World Trade Organization said on July 23.According to the preliminary results, GCC countries decided that the import of steel products under investigation had increased significantly to the region, which was causing serious harm...Read More