Reports from the United States that the signing of a partial trade deal with China may be delayed until December has deflated recent enthusiasm; a trade deal, or even a partial trade deal, is still illusive - this has been going on for 16 months now.News of the delay seems to have put the brakes on across markets with the base metals trading either side of unchanged with no major moves, while equi...Read More
Nickel supply prompted the most heated discussions among market participants at the annual Antaike International Nickel & Cobalt Conference in Yichang on November 5-6, especially those involved in the electric vehicle (EV) battery raw materials supply chain, because of volatilities in the past two months. Meanwhile, the looming closure of Glencore's Mutanda copper-cobalt mine in the Democrati...Read More
Key data from Wednesday November 7 pricing session in Shanghai and London. Key drivers Cobalt hydroxide payables dropped at the start of November after suppliers cut their offer prices to encourage spot buying; spot trade has been slow since China's Golden Week holidays in early October. Chinese consumers have either stood on the sidelines or made aggressive bids (based on refinery net...Read More
Fastmarkets invites market feedback on a consultation on a proposed increase in the frequency of its benchmark prices for cobalt standard grade and cobalt alloy grade, in-whs Rotterdam, to daily. This pricing notice was originally published on October 9. Feedback is invited until November 27. Fastmarkets currently assesses both prices on Wednesday and Friday each week.Initial feedback suggests tha...Read More
ArcelorMittal reduced its forecast for apparent steel consumption growth in Brazil in 2019 because of weak performance in the infrastructure sector as well as other industries in the supply chain.The steelmaker now expects apparent steel use to grow by 0.5-1%, compared with a previous range of 1.5-2.5%, the company said on Thursday November 7. The cut in the guidance range is due to dela...Read More
Trading activity in China's hot-rolled coil market thinned on Thursday November 7 while prices stayed flat, with sentiment dampened by rising output.DomesticEastern China (Shanghai): 3,540-3,550 yuan ($505-507) per tonne, unchangedNorthern China (Tangshan): 3,540 yuan per tonne, unchangedA trader in Shanghai said buying slowed during the day despite steady prices, with rising output resulting in s...Read More
ArcelorMittal reduced its forecast for apparent steel consumption growth in Brazil in 2019 because of weak performance in the infrastructure sector as well as other industries in the supply chain.The steelmaker now expects apparent steel use to grow by 0.5-1%, compared with a previous range of 1.5-2.5%, the company said on Thursday November 7. The cut in the guidance range is due to dela...Read More
Brazilian apparent steel consumption is set to grow by 6-8% in 2020 if current gross domestic product (GDP) estimates are met, Gerdau's chief executive officer Gustavo Werneck said on Thursday November 7.The long-steel sector could rise faster because construction, its largest consumer, was hit harder during the country's recent economic crisis and has not yet started a significant recovery, the C...Read More
The price for steel rebar in Egypt decreased in the week ended Thursday November 7 even as imports costs for steel billet rose, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,600-9,900 ($592-610) per tonne ex-works including 14% VAT, down from last week's E ?10,400-10,900 per tonne ex-works including VAT. Sales were made at E ?9,500-9,800 per tonne ex-works including...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
Deep-sea scrap prices pushed up on Thursday, November 7, after a Turkish steel mill bought a cargo of HMS 1&2 (80:20) and shredded scrap from the United States, continuing the trend for US material set earlier in the week, sources told Fastmarkets.A steel mill in the Iskenderun region bought the cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $260 per tonne and 12,000 tonnes of shr...Read More
Physical iron ore prices weakened further on Thursday November 7 amid losses in derivatives markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.17 per tonne, down $0.30 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $83.20 per tonne, down $0.09 per tonne.62% Fe low-alumina fines, cfr Qingdao: $82.05 per tonne, down $0.81 per tonne.58% Fe fines high-premium, cfr Qi...Read More
The price for steel rebar in Egypt decreased in the week ended Thursday November 7 even as imports costs for steel billet rose, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,600-9,900 ($592-610) per tonne ex-works including 14% VAT, down from last week's E ?10,400-10,900 per tonne ex-works including VAT. Sales were made at E ?9,500-9,800 per tonne ex-works including...Read More
China's domestic rebar prices edged up further on Thursday November 7 on declining inventory levels, though the futures market registered a drop on a pessimistic outlook.Eastern China (Shanghai): 3,730-3,760 yuan ($532-536) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,670 yuan per tonne, up 10 yuan per tonnesRebar inventory levels in the spot markets of major Chinese cities wer...Read More
Nickel supply prompted the most heated discussions among market participants at the annual Antaike International Nickel & Cobalt Conference in Yichang on November 5-6, especially those involved in the electric vehicle (EV) battery raw materials supply chain, because of volatilities in the past two months. Meanwhile, the looming closure of Glencore's Mutanda copper-cobalt mine in the Democrati...Read More
Hebei Steel, China's second largest steel mill, has announced its purchase price for silico-manganese will be 6,100 yuan ($870) per tonne for November delivery, down by 1,200 yuan per tonne from its October tender price, market sources told Fastmarkets on Thursday November 7. This compares with the October delivery tender price set at 7,300 yuan per tonne in late September. Hebei Steel releas...Read More
ArcelorMittal reduced its forecast for apparent steel consumption growth in Brazil in 2019 because of weak performance in the infrastructure sector as well as other industries in the supply chain.The steelmaker now expects apparent steel use to grow by 0.5-1%, compared with a previous range of 1.5-2.5%, the company said on Thursday November 7. The cut in the guidance range is due to dela...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More
A summary of ArcelorMittal's financial results for the third quarter of 2019.In brief Earnings in the quarter dropped due to the combination of a fall in steel shipments, declining steel prices and higher raw material costs, the world's largest steelmaker said on Thursday November 7."As anticipated, we continued to...Read More
ArcelorMittal reduced its forecast for apparent steel consumption growth in Brazil in 2019 because of weak performance in the infrastructure sector as well as other industries in the supply chain.The steelmaker now expects apparent steel use to grow by 0.5-1%, compared with a previous range of 1.5-2.5%, the company said on Thursday November 7. The cut in the guidance range is due to dela...Read More