Here are five Fastmarkets stories you might have missed on Thursday June 4 that are worth another look.Workers of Tata Steel Netherlands have voted in favor of industrial action to protest planned redundancies, trade union FNV Metaal said on June 4.Russian President Vladimir Putin has declared a state of emergency after an accident at a plant operated by a subsidiary of top nickel and palladi...Read More
Katanga Mining has been taken private by Glencore International AG after shareholders voted overwhelming in favor of a definitive agreement to amalgamate the company with 836074 Yukon Inc, a wholly-owned Katanga subsidiary. A special meeting of shareholders was held on Tuesday June 2, with the deal - recommended by the Katanga board - getting 99.9% approval during a vote. The result of the vo...Read More
Turkish deep-sea scrap bookings have continued for July shipments at slightly stronger prices, sources said on Thursday June 4.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 30,000 tonnes of shredded at $263 per tonne cfr.This compared with the most recent United States-origin cargo sold at...Read More
Steelmakers in Bangladesh largely abstained from the market for import bulk scrap cargoes over the last week but offer prices increased due to recent deals done in India and Pakistan, market sources told Fastmarkets on Thursday June 4. Mills in India and Pakistan bought bulk cargoes from the US West Coast over recent days at increased prices amid stronger demand for scrap, low bulk freight ra...Read More
Japanese suppliers of H2 heavy scrap are experiencing difficulty in sourcing for supply, which has led to a rise in export prices for a second week, market sources told Fastmarkets.Low supply has resulted in dockside scrap prices climbing again over the past week, which push up export offers and exert pressure on domestic steelmakers' margins since they are also struggling to obtain material."The...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 4 that are worth another look.Workers of Tata Steel Netherlands have voted in favor of industrial action to protest planned redundancies, trade union FNV Metaal said on June 4.Russian President Vladimir Putin has declared a state of emergency after an accident at a plant operated by a subsidiary of top nickel and palladi...Read More
The metals were for the most part weaker this morning, Thursday June 4, while Asian-Pacific equities were stronger. While Asian-Pacific equities were firmer, pre-market major western equity index futures were showing losses.Germany provides its economy with a ?,?130 billion ($145.8 billion) stimulus package, including a 3 percentage point cut in value-added tax (VAT) and a doubling of rebate on el...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets assessed the price of cobalt...Read More
The cobalt standard grade, in-whs Rotterdam, trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
Katanga Mining has been taken private by Glencore International AG after shareholders voted overwhelming in favor of a definitive agreement to amalgamate the company with 836074 Yukon Inc, a wholly-owned Katanga subsidiary. A special meeting of shareholders was held on Tuesday June 2, with the deal - recommended by the Katanga board - getting 99.9% approval during a vote. The result of the vo...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 4 that are worth another look.Workers of Tata Steel Netherlands have voted in favor of industrial action to protest planned redundancies, trade union FNV Metaal said on June 4.Russian President Vladimir Putin has declared a state of emergency after an accident at a plant operated by a subsidiary of top nickel and palladi...Read More
Workers of Tata Steel Netherlands have voted in favor of industrial action to protest planned redundancies, trade union FNV Metaal said on Thursday June 4. Employees of Tata Steel's Dutch asset in IJmiuden are ready to go on strikes if Tata Steel fails to comply with their demands, according to FNV. "If the management of Tata Steel does not meet [our] requirements before Wednesday [June 10], we wi...Read More
Domestic prices for hot-rolled coil in Europe decreased day on day on Thursday June 4 due to low demand, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?400.08 ($448.70) per tonne on June 4, down by ?,?1.92 per tonne from ?,?402.00 per tonne on Wednesday.Thursday's index was calculated based on deals heard at ?,?400-...Read More
Global demand for steel will decrease by 6.40% year-on-year in 2020 due to the effects of Covid-19 pandemic lockdown measures, the World Steel Association (Worldsteel) said on Thursday June 4.Steel demand this year will drop to 1.65 billion tonnes, Worldsteel said in its Short Range Outlook for June 2020, but will recover in 2021 to 1.72 billion tonnes, which would be up by 3.80% year-on-year.This...Read More
Turkish domestic long steel prices have increased slightly over the past week in line with rising imported scrap costs and improving demand, sources said on Thursday June 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,250-3,300 lira ($483-491) on Thursday, up from 3,230-3,290 lira per tonne last week, including 18% VAT.Domestic rebar prices in t...Read More
Spanish steelmaker Celsa is to investigate the use of hydrogen to replace its fossil-fuel energy sources in a project at its Nordic region site, the companies involved jointly announced on Wednesday June 3.Celsa Armeringsst??l, of the Celsa Group, has teamed up with Mo Industripark and renewable energy company Statkraft, and has signed a letter of intent to establish a green hydrogen value chain f...Read More
The recent tariffs and trade wars had already stretched global supply chains to breaking point, but the Covid-19 pandemic broke those chains, according to a report by Gold Street Advisors (GSA).In a wide-reaching analysis on the impact of the pandemic on metals markets and what will change in its aftermath, the New York, United States-based asset management and risk advisory firm said that going f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron oreSentiment in the iron ore market continues to be dominated by concerns about supply disruptions in Brazil. Prices spiked above $100 per tonne after reports that there had been a recent surge of Covid-19 cases at Vale's three mines in Itabira. A...Read More
Turkish deep-sea scrap bookings have continued for July shipments at slightly stronger prices, sources said on Thursday June 4.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 30,000 tonnes of shredded at $263 per tonne cfr.This compared with the most recent United States-origin cargo sold at...Read More
Turkish steel billet prices increased over the past week due to strengthening demand and rising imported scrap values, sources said on Thursday June 4.Turkey has had a drop in the number of deaths related to the Covid-19 pandemic in the past few weeks with the reduced restrictions including a removal of the ban on travel, leading to some improvement in the steel markets.Domestic billet prices in T...Read More