Prices in the CIS export slab market picked up in the week to Monday November 11, supported by increased demand in Turkey and China as well as a stronger finished flat steel sector both domestically and in some of customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $340-360 per tonne on November 11, up by $5-15 per tonne.Early last week, several...Read More
Some rebar producers in Egypt increased their rebar prices with effect from Monday November 11, Fastmarkets has learnt.The country's biggest producer, Ezz Steel, is now offering rebar at E ?10,370 ($641) per tonne ex-works, up from the previous E ?9,900 per tonne ex-works, including 14% VAT.And the rebar price from Misr Steel is now E ?10,000...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
China is looking to take on the world's top steelmaker, ArcelorMittal, with a share transfer between Shougang and Baowu Steel.Northern China's Shougang Group is transferring 15% of its share in the listed unit of the same name to Baowu Steel without any charge, according to a company notice last Friday November 8. This takes Baowu Steel - China's biggest mill and second globally only to ArcelorMit...Read More
Fastmarkets has corrected its daily index for steel billet exports, fob Black Sea, which was published incorrectly on Monday November 11 due to a reporter error.The daily steel billet index, export, fob Black Sea, CIS, was wrongly published as $380 per tonne on Monday. It should have been $373 per tonne.Fastmarkets' price book and database have been updated to reflect this correction.For more info...Read More
Prices in the CIS export slab market picked up in the week to Monday November 11, supported by increased demand in Turkey and China as well as a stronger finished flat steel sector both domestically and in some of customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $340-360 per tonne on November 11, up by $5-15 per tonne.Early last week, several...Read More
The downtrend in the market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has continued, under pressure from low end-user demand, sources told Fastmarkets on Monday November 11.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-41,000 roubles ($619-642) per tonne on November 11, including 20% VAT...Read More
The three-month nickel price on the London Metal Exchange continued to fall over the course of Monday November 11 to end the day's trading down by just under 4% against high turnover, while the rest of the complex similarly closed lower. The nickel futures price closed at $15,565 per tonne on Monday afternoon, its lowest 5pm closing price since August 7. Turnover in nickel was high over the day wi...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
The three-month nickel price on the London Metal Exchange continued to fall over the course of Monday November 11 to end the day's trading down by just under 4% against high turnover, while the rest of the complex similarly closed lower. The nickel futures price closed at $15,565 per tonne on Monday afternoon, its lowest 5pm closing price since August 7. Turnover in nickel was high over the day wi...Read More
Stagnant tin prices could be set to climb after a bridge collapsed on a key route to Alphamin Resources' Bisie tin mine in the Democratic Republic of the Congo, Central Africa.The Mauritius-based mining company confirmed this week that the Maiko Bridge at Lubutu - on a key route to the Bisie tin mine in the Walikale territory of DRC - collapsed on October 30, some 53 kilometers sout...Read More
Seaborne coking coal prices displayed no clear trend on Monday November 11, though some market participants in China have reported an emergence of offers for November-loading cargoes despite it being close to the middle of the month.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.77 per tonne, up $1.53 per tonnePremium hard coking coal, cfr Jingtang: $145.02 per tonne, down $1.10 per t...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States has improved on a bullish mood among suppliers, which preferred to step back from the market rather than to continue sales at low prices, sources told Fastmarkets on Monday November 11.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $375-385 per tonne on November 11, up fr...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
Chilean copper production grew by 1.2% year-on-year in September, as higher output from state-owned Codelco offset a drop from Escondida and Collahuasi, the country's copper commission, Cochilco, said on Thursday November 7.Total production reached 483,800 tonnes of copper content during September, up from 478,200 tonnes a year earlier.Output during the January-September period came to 4.24 millio...Read More
Stagnant tin prices could be set to climb after a bridge collapsed on a key route to Alphamin Resources' Bisie tin mine in the Democratic Republic of the Congo, Central Africa.The Mauritius-based mining company confirmed this week that the Maiko Bridge at Lubutu - on a key route to the Bisie tin mine in the Walikale territory of DRC - collapsed on October 30, some 53 kilometers sout...Read More
Miner-smelter Nyrstar has begun the final stages of a planned restart to its Port Pirie lead smelter in Australia, with the first feed in its top submerged lance (TSL) furnace expected later this week, it said on Monday November 11. The smelter will be restarting 13 weeks after the company announced a "forced shutdown" on August 9 caused by an incident at the hearth in the primary smelter that req...Read More
The three-month nickel price on the London Metal Exchange recorded a sharp sell-off during morning trading on Monday November 11 on mounting fears that progress in a US-China trade deal could stall. Concerns that the trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampe...Read More
Concerns that China-United States trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampened sentiment in the metals.That said, US equities went on to brush off the news with markets closing at record highs again on Friday November 8. Gold prices break below support as US...Read More