A fundamental industry that has always been a primary facilitator of global trade, shipping aims to be at the forefront of digital technology. This report explores initiatives at the Dutch Port of Rotterdam - Europe's largest port by cargo tonnage - and how those connect with global trade.The shipping industry is key to enhancing global trading. The Dutch Port of Rotterdam has decided to lead the...Read More
Brazil's Companhia Sider??rgica Nacional (CSN) has increased its planned iron ore sales volumes for 2019 by 2 million tonnes or more than 5%, it said.CSN now expects to sell 40 million tonnes of iron ore during the year, the steel and iron ore producer said alongside its second-quarter earnings report on Tuesday July 30, up from its forecast of 38 million tonnes published in May,To...Read More
Seaborne iron ore prices fell on Wednesday July 31, on an uncertain outlook for the markets.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.15 per tonne, down by $2.46 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $115.65 per tonne, down by $3.88 per tonne.Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $118.34 per dmt, do...Read More
Chinese buying activity appears to be supporting prices for premium low-vol hard coking coal despite a bearish outlook for the market among Indian buyers who pointed to ample supply and a subdued steel market in the South Asian country.A September-loading cargo of premium low-vol product was at $182.50 per tonne cfr China, sources told Fastmarkets on Wednesday July 31.Another cargo of the same pro...Read More
Metinvest chief executive officer Yuriy Ryzhenkov discusses with Marina Shulga the challenges the company has overcome and the strategies for its future prosperity.Metinvest, the largest steel producer in Ukraine, has faced the seizing of its assets by rebels, military action right next to its plants, raw material supply interruptions and debt restructuring over the last five years. Over this peri...Read More
A top Japanese steelmaker is expecting prices for October shipments of hot-rolled coil in Asia to continue to trend upward amid rising production costs as a result of raw materials becoming more expensive."Production volumes of electric-arc furnaces (EAFs) in China are increasing rapidly due to strong demand for long steel products from the construction sector, particularly as a result of domestic...Read More
The nickel premium market in China was quiet in the week to Tuesday July 30, with the incentive to import now gone while premium discounting has receded in the United States and Europe is starting to feel the summer slowdown. Chinese premiums flat while import demand is low and supply sufficient US briquette premiums steady; recent discounting seemingly halts European premiums flat on sustained se...Read More
Dramatic inflows of lead stock into London Metal Exchange warehouses this week have challenged the market notion of physical tightness following a suspension at Nyrstar's Port Pirie smelter, which has been cited as the key driver of a recent surge in the lead price. Total LME lead stock soared to 79,050 tonnes as of Wednesday July 31, up 42.5% from Monday's 55,475 tonnes. There were significant de...Read More
Domestic hot-rolled coil prices in China edged up on Wednesday July 31 while pessimism grew in the export segment following days of sparse trading.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($557-558) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,820 yuan per tonne, up 10 yuan per tonneSpot prices rebounded in line with gains in the futures market in the morning. In the after...Read More
China's rebar prices were flat in both the domestic and export markets on Wednesday July 31, with demand being reported as steady but weak.Domestic Eastern China (Shanghai): 3,920-3,940 yuan ($569-572) per tonne, unchangedNorthern China (Beijing): 3,830-3,850 yuan per tonne, unchangedRebar futures picked up in the morning before retreating in the afternoon, but the early gains failed to stimulate...Read More
World manganese ore supply reached only 1.66 million tonnes in June 2019, down by 3.4% year-on-year, according to the International Manganese Institute.June supply rose by slightly less than 1% compared with May, according to figures from IMnI's latest research, published on Wednesday July 31.Supply from Africa and the Middle East came to 951,000 tonnes, up by 10% year-on-year but down by 3% compa...Read More
Key data from Fastmarkets' Wednesday July 31 pricing session in Europe: Key drivers Tightness of availability on a spot basis and an increase in buying inquiries for August and September have encouraged suppliers to hold their offer prices around the top end of the current range, while UK producer FE Mottram has yet to restart production after a fire damaged its plant in April. The all...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 31:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,200 per tonne from $5,950-6,150Bismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.80-2.95 per lb from $2.75-2.90Cobalt alloy grade,...Read More
A fresh wave of stockpiling activities boosted the Chinese cobalt metal spot market price on Wednesday July 31. Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 222,000-232,000 yuan per tonne ($12.83-13.53 per lb, minus China VAT) on Wednesday, up 0.9% from 220,000-230,000 yuan per tonne on July 26. Renewed speculative buying this week was prompted by a combination of an ea...Read More
Chinese subsidy reforms will cool down the electric vehicle (EV) market and weigh on battery demand in the second half of 2019, Umicore chief executive officer Mark Grynberg said in a conference call on Wednesday July 31.The Belgian battery raw materials producer maintained a forecast for stable or falling income in 2019 when it reported its results for the first half of the year on Wednesday. Pro...Read More
Glencore expects to report earnings before interest and tax (Ebit) losses within its marketing department of $350 million for the first half of 2019 due to a sharp drop in cobalt prices. The trader-miner cited a 58% year-on-year drop in cobalt prices in the first half of 2019, referencing Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam, which averaged $17 per lb in the fi...Read More
Fastmarkets on Wednesday July 31 launched weekly export price assessments for stainless steel cold-rolled coil, grade 304 (2mm), fob China, $/tonne and stainless steel hot-rolled coil, grade 304, fob China, $/tonne.The launch of these assessments following a month-long consultation reflects China's status as a major exporter of stainless steel. They will serve as important benchmarks for the inter...Read More
Glencore has cut its ferro-chrome production guidance for 2019 by 10% to 1.48 million tonnes as part of its extended winter shutdown, the company said on Wednesday July 31. The trader-miner had already reduced its output guidance by 50,000 tonnes to 1.64 million tonnes in April due to "additional maintenance and extended winter shutdowns, amid reduced power availability/challenges in South Af...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday July 31:Aluminium scrapGroup 1 pure 99% & litho, delivered consumer UK, ?/tonne: ?1,280-1,320 per tonne from ?1,260-1,300Clean HE9 extrusions, delivered consumer...Read More
Equities sold off after the US Federal Open Market Committee (FOMC) suggested that its rate cut was simply a mid-cycle adjustment rather than the start of monetary easing; the US Dow Jones Industrial Average closed down by 1.23%. Metals followed equities lower but better Chinese manufacturing purchasing managers’ index (PMI) data may provide support; China’s Caixin PMI climbed...Read More