Colin McGibbon has been appointed chief executive officer of Soci?(C)t?(C) le Nickel (SLN), French multi-metal company Eramet's New Caledonia subsidiary, the company said on Friday February 14.He succeeds Bernard Laflamme in the role and will be tasked with overseeing the implementation of SLN's rescue plan, which aims to return Eramet's embattled operations to profitability.Safeguarding measures....Read More
Brazil's slab export prices were stable this past week, with buyers waiting on the sidelines and purchasing only small batches while they wait for a clearer direction on global steel markets.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on Friday February 14, unchanged from the previous week.The value includes the most recent deals,...Read More
Hot-rolled coil prices in the United States have again fallen below $29 per hundredweight ($580 per short ton) due to low reselling prices at service centers pressuring those domestic mills that have some weakness in their order books, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US, was calculated at $28.75 per cwt ($575 per ton) on Friday Februar...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday February 14 following the rise seen earlier this week, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe was ?,?479.34 ($520) per tonne on February 14, up by ?,?0.03 per tonne from ?,?479.31 per tonne on February 13 and up by ?,?7.67 per tonn...Read More
Polish domestic rebar prices moved down over the past week due expectations of a decrease in the price of scrap, market sources told Fastmarkets on Friday February 14.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, fell to 2,050-2,150 zloty ($524-549) per tonne on February 14, down by 50-100 zloty...Read More
Indian domestic secondary billet prices have fallen by 800 rupees ($11) per tonne week on week on reduced demand from long product makers and oversupply of semi-finished products in the market, sources told Fastmarkets on Friday February 14.Fastmarkets assessed steel billet domestic, ex-works India, at 28,600-28,800 rupees per tonne on Friday, down 800 rupees from 29,400-29,600 rupees per tonne ex...Read More
A summary of Brazilian flat steel producer Usiminas' earnings in 2019.In briefAdjusted earnings at Usiminas dropped in 2019 from a year earlier, which reflected a fall in steel sales over last year mainly due to a reduction in steel exports. The company also faced an increase of 9.9% in its average cash cost per tonne in its steel business because of...Read More
The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday February 7, stabilizing after falling more than 11% in the prior week, with higher export prices from Europe this week supporting domestic British prices, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?70-9...Read More
The price of ferrous scrap imported into India moved up this week, as the bellwether Turkish market staged a recovery, sources told Fastmarkets on Friday February 14.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $286.96 per tonne on Friday, up from $284.44 per tonne one week ago - the first upwards movement for several weeks.There were no deals heard f...Read More
Turkish steel producers have continued their deep-sea scrap purchases for March shipment at slightly higher prices at the end of the week, sources told Fastmarkets on Friday February 14.A steel producer in the Izmir region booked a Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (80:20) at $274 per tonne cfr.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:...Read More
UK suppliers of steel scrap to domestic consumers have fallen for the latest monthly settlements for February delivery, paring most of the gains made since November on weaker demand and lower prices for European scrap into Turkey and the Indian subcontinent, sources said on Thursday February 13.February contracts were down by ?25 ($32) per tonne, after climbing ?35 per tonne over the three month...Read More
Seaborne iron ore prices were rangebound on Friday February 14, while there were more transaction for low-grade iron ore fines at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.67 per tonne, up $0.11 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $88 per tonne, up $0.11 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $89.79 per tonne, up $0.05 per tonne. 58% Fe f...Read More
Seaborne coking coal prices moved up on Friday February 14, defying the pessimism in the market resulting from the outbreak of the novel coronavirus (2019-nCoV) in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.43 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $161.28 per tonne, up $0.55 per tonneHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard...Read More
The three-month zinc price on the London Metal Exchange was lower during morning trading on Friday February 14, with positive price action stymied by a fresh inflow of some 2,475 tonnes, while ongoing drawdowns in aluminium failed to bolster its falling price.Zinc's outright price on the LME was recently seen at $2,150 per tonne, down by just under 1% from Thursday's closing price of $2,175 per to...Read More
China's domestic hot-rolled coil prices continued to fall on Friday February 14 on low demand, though participants in the export market are holding out for a rebound once the novel coronavirus (2019-nCoV) outbreak comes under control.DomesticEastern China (Shanghai): 3,460-3,480 yuan ($496-499) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, down 40 yuan per to...Read More
Deliverable stocks for all base metals except tin and nickel in Shanghai Futures Exchange-approved warehouses soared in the week to Friday February 14 because downstream operations have not fully resumed after the Lunar New Year holiday due to the outbreak of the novel coronavirus (2019-nCoV) in China.Copper registered the biggest inflow of 56,484 tonnes or 27.4%, taking total SHFE-approved stocks...Read More
The LME Week Asia 2020 seminar has been postponed and the LME Asia Dinner has been canceled, due to the coronavirus outbreak, the London Metal Exchange said on Friday February 14. "Against the backdrop of the novel coronavirus, HKEX Group has made the difficult decision to cancel the LME Asia Dinner and postpone the LME Asia Seminar," the exchange said in a notice to members. "This decision has be...Read More
With no let-up in the number of coronavirus (2019-nCov) infections in China, the market is this morning, Friday February 14, waiting for signs that the virus is being contained. In the meantime, it seems as though equities are riding high on the back of China monetary stimulus measures, while the metals markets are more aware that the disruption to production and demand will have a mixed impact co...Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
An overview of the Chinese minor metals markets and the reasons for the latest price moves.Read More