The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More
Liberty Steel Group will cut 355 jobs at its UK steelworks in Stockbridge, South Yorkshire and Newport, South Wales due to "challenging market conditions", the company said on Thursday January 9. This follows a move late in 2019 when the GFG Alliance announced plans to consolidate all its steel businesses into one global group named Liberty Steel Group. The company said it has decided to redu...Read More
China's Hebei province, the country's largest steel production hub, will reduce steel capacity by 14 million tonnes per year in 2020 as part of efforts to transform and upgrade the industry, according to a report from state-owned news agency Xinhua on Tuesday January 7.The plan, which is aimed at cutting overcapacity and reducing emissions, will not cause a significant drop in production nationwid...Read More
The flat-rolled steel import market was mixed on Wednesday January 8, with some products rising sharply due to gains in the domestic market while others were quiet following no immediate improvement in steel demand after the December holiday lull, market participants said.Entering the first full work week following the Christmas and New year holiday break, a number of domestic steelmaker...Read More
Hot-rolled coil prices in the United States have remained solidly above $30 per hundredweight ($600 per short ton) following a fifth round of mill price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.48 per cwt ($609.60 per ton) on Thursday January 9, down modestly from $30.54 per cwt on Wednesday January 8 but up by 5.1% from $28.99 per cwt a week...Read More
The three-month zinc price on the London Metal Exchange had declined at the close of trading on Thursday January 9, dipping below nearby support levels after a fresh inflow of 1,500 tonnes into Singapore capped momentum gained earlier in the week.Zinc's outright price on the LME closed at $2,377 per tonne this afternoon, dipping back below nearby resistance after reaching an intraday and two-month...Read More
The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 9 that are worth another look.The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.Mining and trading company Mitsui is ceasing copper concentrate blending in South Korea,...Read More
Canadian spodumene producer Nemaska Lithium's filing for bankruptcy protection could be a bellwether moment for spodumene producers searching for capital while lithium prices continue to fall, making upstream investment seem unattractive, market sources have told Fastmarkets.The Canadian junior miner filed for bankruptcy protection on December 23 last year to provide it with more time to seek refi...Read More
The Chinese alumina price recently reached a floor and began entering into a rebound on the spot market, however, excess market supply has limited the uptrend, market participants said."The bearish news of large quantities of imported material continuing as well as an oversupplied domestic market have been digested by the market already so we assume the price will enter an upward trend from now on...Read More
The three-month zinc price on the London Metal Exchange had declined at the close of trading on Thursday January 9, dipping below nearby support levels after a fresh inflow of 1,500 tonnes into Singapore capped momentum gained earlier in the week.Zinc's outright price on the LME closed at $2,377 per tonne this afternoon, dipping back below nearby resistance after reaching an intraday and two-month...Read More
There has been a flurry of buying activity in the Chinese alumina market at the start of January, supporting the benchmark alumina price above $270 per tonne. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $277.36 per tonne on Thursday January 9, up from $275.77 per tonne on Wednesday. The index has traded between $275 and $277 per tonne since December 27. Key driv...Read More
Physical iron ore prices fell on Thursday January 9 following derivatives losses amid paused restocking from Chinese mills and a big increase in steel inventories.62% Fe fines, cfr Qingdao: $94.37 per tonne, down $1.85 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.46 per tonne, down $1.85 per tonne.62% Fe low-alumina fines, cfr Qingdao: $95.22 per tonne, down $1.65 per tonne.58% Fe fines...Read More
Turkish steel producers have broken their silence in the deep-sea scrap markets after a mill in the Marmara region bought a European cargo, sources said on Thursday January 9.The mill booked the European cargo - comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 15,000 tonnes of bonus at an average price of $300 per tonne cfr - late on Wednesday January 8. .....Read More
Liberty Steel Group will cut 355 jobs at its UK steelworks in Stockbridge, South Yorkshire and Newport, South Wales due to "challenging market conditions", the company said on Thursday January 9. This follows a move late in 2019 when the GFG Alliance announced plans to consolidate all its steel businesses into one global group named Liberty Steel Group. The company said it has decided to redu...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 9 that are worth another look.The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.Mining and trading company Mitsui is ceasing copper concentrate blending in South Korea,...Read More
Key data from the price assessment on Thursday January 9. Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam at $95-100 per tonne on Thursday, up from $90-100 per tonne the day before and from $85-95 per tonne at the beginning of January.Key drivers:Supply for P1020 in Rotterdam, and other European ports, is tight, especially for certain shapes or other specifications. Alumini...Read More
There has been a flurry of buying activity in the Chinese alumina market at the start of January, supporting the benchmark alumina price above $270 per tonne. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $277.36 per tonne on Thursday January 9, up from $275.77 per tonne on Wednesday. The index has traded between $275 and $277 per tonne since December 27. Key driv...Read More
Mining and trading company Mitsui is ceasing copper concentrate blending in South Korea, an indication that grades and arsenic levels are improving at copper mines where it holds stakes, Fastmarkets understands. For several years, Mitsui ran a light-asset blending facility in the coastal port of Mokpo to process copper concentrates from Los Bronces and Collahuasi copper mines that have historicall...Read More
The three-month aluminium price on the London Metal Exchange was little moved during morning trading on Thursday January 9, with price action largely unaffected by a fresh cancelation of some 119,675 tonnes out of LME-registered warehouses in Asia. Aluminium's underlying price on the LME was recently seen at $1,795 per tonne, trading just $10 per tonne shy of its intra-morning high and keeping bel...Read More