Slower buying activity and lower bids from customers have forced CIS wire rod suppliers to reduce their export offer prices at the end of this month, Fastmarkets learnt on Monday July 29.Russia-origin wire rod was available to foreign customers at $490 per tonne fob Black Sea, down by $10 per tonne week on week. A European trader was bidding around $485 per tonne fob. But this price was rejected b...Read More
Turkish steel mills have reported no bookings in the deep-sea scrap markets at the start of this week although they were still need to buy more material for August, sources said on Monday July 29.After booking four deep-sea cargoes last week, the mills stepped out of the deep-sea markets because of weak demand for finished long steel, those sources added."I believe the mills will need to buy few m...Read More
Turkish domestic scrap prices have remained unchanged over the past week because of the slowness of the finished steel markets in summer, sources said on Monday July 29.Almost all of the mills kept their buy prices for local scrap unchanged from the previous week.Only ID??, the long steel mill in the Izmir region,...Read More
Singapore Exchange's (SGX) 65% Fe iron ore derivative contract hit a monthly-traded volume of 2.0397 million tonnes as on Monday July 29, the highest since the contract's launch on December 3, 2018.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.99 per tonne, down $0.32 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $1117.91 per t...Read More
Prices for UG2 chrome ore in China rose strongly for the second consecutive week over the seven days ended Friday July 26, but weak profitability for smelters raised questions about the durability of this recovery. UG2 ore market in China increases by $7 per tonne Domestic spot alloy price rises in China, imported alloy stable High carbon alloy prices in Europe, US stableThe chrome ore price conti...Read More
The monthly European alloy steel surcharges for August have increased from the levels for July following a recent surge in nickel prices, Fastmarkets heard on Monday July 29.Fsatmarkets' stainless steel cold-rolled sheet, 2mm grade 304 alloy surcharge, domestic, Europe, is likely to rise to ?,?1,337-1,382 ($1,487-1,537) per tonne for August, according to data released by Outokumpu, Acerinox and Ap...Read More
China's stainless crude steel production increased over the first six months of 2019 amid steady growth in demand.Stainless steel mills produced 14.35 million tonnes of stainless crude steel in January-June period, up 1.13 million tonnes - or 8.51% - from an adjusted 13.22 million tonnes in the first half of last year, according to the China Stainless Steel Council (CSSC) late last Friday Jul...Read More
Global crude steel production was at 158.98 million tonnes in June, up 4.6% from 152 million tonnes a year ago, according to data released by the World Steel Association (Worldsteel).Output from Chinese steelmakers was 87.53 million tonnes, a 10% increase from 79.59 million tonnes in June 2018. India's output rose 4% to 9.34 million, while Japanese...Read More
China's stainless crude steel production increased over the first six months of 2019 amid steady growth in demand.Stainless steel mills produced 14.35 million tonnes of stainless crude steel in January-June period, up 1.13 million tonnes - or 8.51% - from an adjusted 13.22 million tonnes in the first half of last year, according to the China Stainless Steel Council (CSSC) late last Friday Jul...Read More
Brazilian steel and iron ore producer Usiminas plans to sell a total of 9 million tonnes of iron ore this year, while production is expected to remain close to 8 million tonnes, chief executive officer of the company's mining unit, Carlos H?(C)ctor Rezzonico, said on Friday July 26.Last year, Usiminas's mining division produced 5.65 million tonnes of iron ore and sold a total 6.47 million tonnes.T...Read More
The rise in Chinese ferro-vanadium prices continued to be the principal driver for the European market in the week ended Friday July 26, pushing prices above $30 per kg. Chinese, European ferro-vanadium prices continue to climb on improved sentiment V2O5 price in China moves up 3.1% amid tightness, but Europe lags behind US prices unchanged on quiet spot market.Despite the lack of transactions, th...Read More
Prices for UG2 chrome ore in China rose strongly for the second consecutive week over the seven days ended Friday July 26, but weak profitability for smelters raised questions about the durability of this recovery. UG2 ore market in China increases by $7 per tonne Domestic spot alloy price rises in China, imported alloy stable High carbon alloy prices in Europe, US stableThe chrome ore price conti...Read More
The monthly European alloy steel surcharges for August have increased from the levels for July following a recent surge in nickel prices, Fastmarkets heard on Monday July 29.Fsatmarkets' stainless steel cold-rolled sheet, 2mm grade 304 alloy surcharge, domestic, Europe, is likely to rise to ?,?1,337-1,382 ($1,487-1,537) per tonne for August, according to data released by Outokumpu, Acerinox and Ap...Read More
Norsk Hydro learned some important lessons from its experiences following heavy rainfall at its Alunorte refinery in Brazil, particularly the need to improve community relations, chief executive officer Hilde Merete Aasheim said. Alunorte has been a "very difficult situation" for Hydro for the past 18 months, she told Fastmarkets during an interview in New YorkHeavy rainfall in Par?? in February l...Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 29 that are worth another look.The Peruvian federal government is drafting a new mining code to ensure legal certainty and social responsibility in the development of projects in the country, national president Mart?-n Vizcarra said on Sunday July 28 during the country's independence day festivities. The announcement wa...Read More
The discount for No2-grade copper scrap in China widened this month on higher availability because Chinese buyers have quickly used up the import quotas granted by the government.The value for copper scrap No2 copper (birch/cliff), imported into China, 94-96%, LME/Comex discount, cif China, was $0.32-0.36 per lb on Monday July 29, compared with $0.29-0.35 per lb on June 24.Scrap material from Sout...Read More
Singapore Exchange's (SGX) 65% Fe iron ore derivative contract hit a monthly-traded volume of 2.0397 million tonnes as on Monday July 29, the highest since the contract's launch on December 3, 2018.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.99 per tonne, down $0.32 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $1117.91 per t...Read More
Seaborne coking coal prices dropped on Monday July 29, as offer and traded levels plunged.A premium mid-vol cargo changed hands at $168 per tonne fob Australia, market sources said during the day.On the Global Coal platform, an offer for a September-loading premium mid-vol cargo stood at $162 per tonne fob Australia, they added.Chinese buyers continue to hold a bearish outlook on prices amid restr...Read More
Citic Metal, the exclusive sales agent in China for ferro-niobium from Companhia Brasileira de Metalurgia e Minera????o (CBMM), surprised the market by keeping its third-quarter price unchanged from the previous quarter, sources told Fastmarkets.The market had been expecting CBMM to lower its ferro-niobium price, which has gradually lost its allure compared with vanadium products because of the de...Read More
The uncertainty created by trade tensions, including the potential for US tariffs on the automotive sector, is deterring investment decisions in the industry and leading to reduced forecasts for growth, according to Norsk Hydro's chief executive officer. One of the key reasons why the Norwegian aluminium producer lowered its demand growth expectations for the metal in 2019 was the insecurity...Read More