Execution works at the copper-gold Serrote project, operated by Minera????o Vale Verde (MVV), have reached 60% completion and is planned to start production in the second half of 2021, MVV's parent company Appian Capital Advisory said on Tuesday July 14. The project is located in the Brazilian northeastern state of Alagoas, and has an expected production capacity of 20,000 tonnes per year of coppe...Read More
Asian-Pacific equities and the base metals trading on the London Metal Exchange were weaker this morning, Tuesday July 14, with profit-taking emerging in the face of increased Covid-19 cases and earnings uncertainty. China's imports and exports climbed in June, a sure sign of improved economic conditions, albeit after months of hardship.United States President Donald Trump said last week he was no...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 14 that are worth another look.Sims Metal Management, the world's top metal and electronics recycler, is to lay off up to one-fifth of its UK workforce, Fastmarkets understands.Commercial vehicles led China's annual automotive output and sales in June, the China Association of Automobile Manufacturers (CAAM) said on July 10, e...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Fastmarkets proposes to change the publication time of its Latin American steel price assessments to Friday at 2-3pm New York time from Friday 2-3pm London time.This proposal affects the following price assessments: Steel hot-rolled coil (dry) export, fob main port Latin America, $/tonne - MB-STE-0133 Steel hot-rolled coil import, cfr main ports South America, $/tonne - MB-STE-0102 ...Read More
Most steel scrap prices in Mexico fell during the week ended Friday July 10 amid slow demand, with the market affected by pessimism stemming from the monthly settlement in the United States.At least one scrap buyer has applied price cuts totaling 500 pesos ($22) per tonne since the end of June, while others have reduced prices by 300 pesos per tonne.Of the 10 grades of ferrous scrap tracked b...Read More
Turkish steel producers have resumed their deep-sea scrap purchasing at slightly higher prices, sources said on Tuesday July 14.A steel producer in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $257 per tonne, 27,000 tonnes of shredded at $262 per tonne and 3,000 tonnes of bonus at $267 per tonne cfr.This compared with transactions for US material at...Read More
Fastmarkets proposes to change the publication time of its Latin American steel price assessments to Friday at 2-3pm New York time from Friday 2-3pm London time.This proposal affects the following price assessments: Steel hot-rolled coil (dry) export, fob main port Latin America, $/tonne - MB-STE-0133 Steel hot-rolled coil import, cfr main ports South America, $/tonne - MB-STE-0102 ...Read More
The prices for steel rebar and billet in the United Arab Emirates were stable this week, but buyers were expecting new local rebar prices next week, market sources said on Tuesday July 14.Some rebar import deals were heard from Oman during the period, at the same prices as were heard last week.Domestic rebarMills in the UAE were offering rebar at 1,770-1,774 dirhams ($482-483) per tonne ex-works,...Read More
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, pa...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 14 that are worth another look.Sims Metal Management, the world's top metal and electronics recycler, is to lay off up to one-fifth of its UK workforce, Fastmarkets understands.Commercial vehicles led China's annual automotive output and sales in June, the China Association of Automobile Manufacturers (CAAM) said on July 10, e...Read More
Commercial vehicles led China's annual automotive output and sales in June, the China Association of Automobile Manufacturers (CAAM) said on July 10, especially those related to the construction industry. This reflects the country's rapid expansions in infrastructure development, the association said. China produced 2.33 million vehicles in June, up by 6.3% from May and up by 22.5% from a year ago...Read More
The United States Court of International Trade (CIT) has ruled that President Donald Trump did not have the power to double the Section 232 tariff on steel imports from Turkey.The increase in the tariff - to 50% from 25% - was a violation of statutory procedures and of equal protection guarantees, the CIT stated in a 22-page ruling on Tuesday July 14. The ruling follows a complaint filed by US ste...Read More
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.By July 19, the UAE will apply a duty of 500 dirhams ($137) per tonne on imports of color-coated coil - in effect until May 14, 2021.The main supplier of color-coated coil to the UAE is China, Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 14 that are worth another look.Sims Metal Management, the world's top metal and electronics recycler, is to lay off up to one-fifth of its UK workforce, Fastmarkets understands.Commercial vehicles led China's annual automotive output and sales in June, the China Association of Automobile Manufacturers (CAAM) said on July 10, e...Read More
The United States Court of International Trade (CIT) has ruled that President Donald Trump did not have the power to double the Section 232 tariff on steel imports from Turkey.The increase in the tariff - to 50% from 25% - was a violation of statutory procedures and of equal protection guarantees, the CIT stated in a 22-page ruling on Tuesday July 14. The ruling follows a complaint filed by US ste...Read More