The Turkish steel mills have remained quiet in the deep-sea markets due to limited trading activity in te long steel and billet markets, sources said on Wednesday July 31.The mills in the country booked four deep-sea cargoes last week.Sources believed that the Turkish mills still needed scrap for August shipments but the weak rebar...Read More
A summary of Nornickel's production results for the first half of 2019In brief Nornickel increased production across all base metals, particularly copper, and platinum-group metals in the first half of 2019. Refined nickel output fell 4% in the second quarter of 2019 from the first quarter to 54,000 tonnes, which reflects scheduled maintenance at the...Read More
A summary of Glencore's production results for the half year ended on June 30, 2019, as well as its adjusted full-year production guidance.In brief Glencore's copper production totaled 663,000 tonnes in the first six months of 2019, marking a 5% decline against the same period of 2018. The company attributed the fall to the open-cut depletion at Alumbrera in Argentina and the sale of the Punitaqui...Read More
Asian equities were weaker in the morning of Wednesday July 31 on uncertainty on the progress in US/China trade negotiations, although base metals, which have focused more on brighter Chinese manufacturing purchasing managers' index (PMI) data, rose by an average of 0.4%. Chinese manufacturing PMI rises to 49.7 in July, from 49.4 in June. Busy day ahead for economic data. Market awaits U...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
Chinese cobalt metal exports jumped up in June due to strong overseas traders' buying appetites on appealing arbitrage profits, Fastmarkets learned.A total of 279 tonnes of cobalt metal were shipped outside China in June, up by 6.4% from 170 tonnes in May, according to official, but unconfirmed, data seen by Fastmarkets. The spike in metal outflows in June also brought total exports of the blue me...Read More
Sales at Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) dropped by 12.1% in the second quarter from a year earlier because of weakness in markets both at home and abroad, it said.Its sales volumes totaled 1.16 million tonnes in April-June, down from 1.32 million tonnes in the second quarter of last year, it said in its earnings report on Tuesday July 30. The faltering Brazilian economy...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have inched down over the past week due to slow trading, sources told Fastmarkets on Wednesday July 31.Demand was expected to be almost nil in August due to the seasonal slowdown, and although the market will recover in September, sources believed that generally activity will remain poor.Fastmarkets' weekly price assessment for steel HRC, domesti...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
The price of domestic mesh-quality wire rod in Northern Europe narrowed this week, while Southern European prices were unchanged ahead of the summer slowdown, sources told Fastmarkets on July 31.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, narrowed downward this week by ?,?5 per tonne to ?,?495-500 ($552-557) per tonne.In...Read More
The domestic prices for hollow steel sections in both Northern and Southern Europe were unchanged this week ahead of the seasonal summer break, sources told Fastmarkets on Wednesday July 31.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?615-630 ($686-702) per tonne on Wednesday, flat week on week.Market participants reported very low levels o...Read More
The price for rebar produced and delivered in Southern Europe has remained stable over the past seven days on limited trading activity, although some mills were still attempting to increase their prices, sources said on Wednesday July 31.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was unchanged week on week at ?,?470-485 ($524-541) p...Read More
The Turkish steel mills have remained quiet in the deep-sea markets due to limited trading activity in te long steel and billet markets, sources said on Wednesday July 31.The mills in the country booked four deep-sea cargoes last week.Sources believed that the Turkish mills still needed scrap for August shipments but the weak rebar...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
Export billet prices from Iran continued to increase in the last week of July amid lively trading of September-rolling volumes.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $390-395 per tonne on Wednesday July 31, against $385-395 per tonne a week earlier.Several cargoes have been reported sold to customers in the Middle East, Africa and Southeast Asia within t...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
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