British Steel is adjusting and pausing production at various sites due to a drop in demand, the company said on Friday April 3. British Steel chief executive Ron Deelen detailed some of the actions the company had taken during the Covid-19 virus outbreak, which included reducing production at various sites. "As we manage the internal and external challenges coronavirus brings, we'll take decisive...Read More
Turkish deep-sea scrap import prices have started to rebound on tightening supply, although no transactions have been made, sources told Fastmarkets on Monday April 6.Several sources reported a Baltic Sea offer at $240 per tonne cfr for HMS 1&2 (80:20), while mills' bids were no higher than $220 per tonne.The most recent deep-sea transactions were heard at the start of last week and put the HMS 1&...Read More
The Turkish domestic scrap market was stable over the past week but prices are expected to increase soon due to tightening supply, sources said on Monday April 6.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,380-1,515 lira ($206-226) per tonne on Monday, unchanged week on week.Long and flat steelmaker ??olakoglu maintained its buy price...Read More
Global ferrous scrap prices continued to move downward in the week ended Friday April 3, with reaction to the Covid-19 pandemic responsible for further lockdowns around the world, bringing trading to a halt in key export markets.Turkish import prices plungeUS export market pausesTaiwan import price dips on lower demandTrading remains at a halt in India.TurkeyPrices for scrap imported into Turkey f...Read More
Seaborne iron ore prices were flat on Monday April 6 at the end of the long weekend holiday in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $83.30 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $84.42 per tonne, unchanged. 58% Fe fines high-grade premium, cfr Qingdao: $72.05 per tonne, unchanged. 65% Fe Brazil-origin fines, cfr Qingdao: $97.70 per tonne, unchanged. 6...Read More
Trading activity in the seaborne coking coal market was muted on Monday April 6 with the only clearing market at the moment - China -on holiday and ex-Chinese buying activity practically suspended on the Covid-19 virus' spread to downstream operations of steel mills.Fastmarkets IndicesPremium hard coking coal, fob DBCT: $133.42 per tonne, down $5.18 per tonnePremium hard coking coal, cfr Jingtang:...Read More
The continuing growth of electric arc furnace (EAF)-based steelmaking in the United States raises questions about supplies of scrap to feed the furnaces.Industry observers' views remain mixed about how much tighter the availability of US ferrous scrap - particularly of such prime or factory scrap as No. 1 busheling and No. 1 bundles - will be once the expected big jump in domestic steelmaking capa...Read More
Key data from the pricing sessions in Europe, the United States and Asia for the week ended Monday April 6.EuropeKey drivers The silicon market weakened for both grades of material for the second consecutive week, amid sluggish demand in Europe. A few tonnes were booked at a price close to ?,?1,800 ($1,944) per tonne for 4-4-1 grade, while competitive bids were also heard...Read More
Canada-based ferro-titanium producer Metalliage is considering its options after local authorities in Canada said on Sunday April 5 that all non-essential business will be closed until May 4, extending its earlier order by three weeks.Metalliage has sought to avoid being shut, arguing that it provides an essential service so as to enable it to restart production at its Quebec-based plant. The plan...Read More
Italian stainless steelmaker Acciai Speciali Terni (AST) has resumed production, following a week of downtime in response to the coronavirus pandemic, sources told Fastmarkets on Monday April 6,Italian authorities ordered the closure of all non-essential production from March 23 to April 3, and then extended the lockdown until April 13.The decision was made after a jump in the death toll from Covi...Read More
The European high-carbon ferro-chrome market cemented its recovery over the past week, with industry sources reporting higher spot prices amid supply worries from South Africa and India, both of which are on multi-week lockdowns. The low-phosphorous price also ticked up week on week, as did Turkish lumpy chrome ore, while the UG2 index to China remained flat. Sources attributed the price rises to...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday April 7, with gains averaging 1.2% and 1.4% respectively.Broader markets are in a firmer tone following a 7.7% rise in the Dow Jones Industrial Average on Monday and after this morning’s announcement of a record breaking 108 trillion yen ($990 billion) stimulus package...Read More
U.S. equity index futures were higher again this morning. S&P 500 futures were up 77 points in pre-opening trade.Gold gained $15.70 to a seven year high at U.S. $1709.60 per ounce.AT&T added $0.94 to $30.38 after arranging a $5.5 billion line of credit. Kraft Heinz gained $1.04 to $26.95 after the company issued positive first quarter revenues and earnings. MMM advanced $7.80 to $148.50 af...Read More
Here are five Fastmarkets stories you might have missed on Friday April 3 that are worth another look.Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, declared force majeure to its clients on Thursday April 2 due to the effects of the Covid-19 pandemic on its operations, in a statement seen by Fastmarkets.The benchmark for the supply of aluminium to...Read More
Here are five Fastmarkets stories you might have missed on Friday April 3 that are worth another look.Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, declared force majeure to its clients on Thursday April 2 due to the effects of the Covid-19 pandemic on its operations, in a statement seen by Fastmarkets.The benchmark for the supply of aluminium to...Read More
Here are five Fastmarkets stories you might have missed on Friday April 3 that are worth another look.Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, declared force majeure to its clients on Thursday April 2 due to the effects of the Covid-19 pandemic on its operations, in a statement seen by Fastmarkets.The benchmark for the supply of aluminium to...Read More
Brazilian steelmaker Gerdau will idle the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, this month to adjust operations due to to currently weakened demand because of the Covid-19 pandemic, the company said on Friday April 3.Blast furnace No2 at Ouro Branco has capacity to produce 1.5 million tonnes per year of crude steel. Furnace No1, which will remain act...Read More
ArcelorMittal's Brazilian unit has clarified information about the shutdown of its No3 blast furnace in Tubar??o facility, in the country's southeastern Esp?-rito Santo state; the equipment will remain halted for an indeterminate period, the company told Fastmarkets on Friday April 3.The blast furnace has capacity to produce 2.8 million tonnes of crude steel per year. The Tubar??o unit supplies sl...Read More
Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More
Here are five Fastmarkets stories you might have missed on Friday April 3 that are worth another look.Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, declared force majeure to its clients on Thursday April 2 due to the effects of the Covid-19 pandemic on its operations, in a statement seen by Fastmarkets.The benchmark for the supply of aluminium to...Read More