Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Steel billet from suppliers in the Commonwealth of Independent States (CIS) was on offer this week to Egyptian customers at $450-455 per tonne, but with one deal heard concluded at $445 per tonne cfr.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $445 per tonne cfr on Thursday May 16, narrowing upward from $440-445 per tonne cfr on May 9 because of the pressure from...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying over the afternoon. The upward momentum in the three-month aluminium futures continued throughout the afternoon trading session, with the light metal settling at $1,860 per tonne, its highe...Read More
The price of steel billet in Turkey has gone down over the past week because of limited demand and falling scrap costs, sources said on Thursday May 16.Fastmarkets' weekly price assessment for billet imports into Turkey was $420-430 per tonne cfr on May 16, narrowing downward from last week's $420-440 per tonne.The price for CIS-origin billet has also gone down this week, with buyers continuing to...Read More
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 16 that are worth another look.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying during afternoon trading.Metals trader Glencore has reshuffled its c...Read More
Metals trader Glencore has reshuffled its cobalt team, with David Brocas leading the company's cobalt trading since Franck Schulders has gone on sabbatical.The changes took effect in the past few weeks, Glencore told...Read More
Michael Dornhofer left tungsten powders supplier Wolfram Bergbau und H? 1/4 tten (WBH) at the end of April, Fastmarkets has learned.Dornhofer had been Austria-based WBH's director of sales and purchasing for tungsten-containing raw materials...Read More
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying over the afternoon. The upward momentum in the three-month aluminium futures continued throughout the afternoon trading session, with the light metal settling at $1,860 per tonne, its highe...Read More
Seaborne iron ore prices jumped closer to the $100-per-tonne-cfr mark while setting a five-year high on Thursday May 16 amid bullish market sentiment.MB 62% Fe Iron Ore Index: $99.21 per tonne cfr Qingdao, up by $2.26 per tonne.MB 62% Fe Pilbara Blend Fines Index: $97.40 per tonne cfr Qingdao, up by $1.77 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $102.80 per tonne cfr Qingdao, up by $4.27 pe...Read More
China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to...Read More
Turkish domestic prices for rebar and wire rod have gone down over the past week with a strengthening of the country's lira, sources said on Thursday May 16.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,250-3,350 ($538-555) per tonne ex-works on May 16, down from last week's TRY3,330-3,420 per tonne, including 18% VAT.The domestic rebar price in the Izmir region was TR...Read More
The Turkish deep-sea scrap markets went quiet on Thursday May 16, with suppliers withdrawing their offers because of rumors that the United States will remove the doubled Section 232 tariff on Turkey-origin steel products, sources said.The head of the Turkish parliament's foreign affairs committee, Volkan Bozkir, met with the charge d'affaires of the US embassy, Jeffrey Hovenier, in Ankara on May...Read More
Recent optimism for an uptrend in global alumina prices has been knocked by the news that the Federal Court in Bel?(C)m, Brazil, has removed a production embargo on Norsk Hydro's Alunorte alumina refinery, sources told Fastmarkets on the sidelines of the Alumina & Bauxite conference in Zhengzhou, China on May 16-17. This is the first of two production embargoes that need to be removed but sou...Read More
Aluminium's three-month price on the London Metal Exchange appreciated during morning trading on Thursday May 16, climbing to an intraday high of $1,864 per tonne after it was buoyed by a fresh cancelation of 33,050 tonnes. The climb marks the light metal's highest price since April 26, but its three-month price has not traded above $1,900 per tonne since April 5, despite more than 400,000 tonnes...Read More
Although metals markets were mixed this morning, Thursday May 16, the downward trends on the charts seem to have halted; key now will be whether buying and short-covering follows. At least US President Donald Trump's delaying for six months his decision on whether to impose tariffs on imported vehicles and vehicle parts from Japan and Europe has not further broadened the trade war.US treasury yiel...Read More
The Federal Court in Bel?(C)m, Brazil, lifted a production embargo on Norsk Hydro's Alunorte alumina refinery under the civil lawsuit on Wednesday May 15. This is the first of two production embargoes that need to be lifted before the refinery can resume full operations. Alunorte is still subject to a production embargo imposed by the same court in a parallel criminal lawsuit. Alunorte will contin...Read More
Base metals prices on the Shanghai Futures Exchange exhibited broad-based strength for a second day in a row during morning trading on Thursday May 16, with nickel once again leading the charge higher - though gains were more tempered in the alloying metal compared with Wednesday.The most-traded July nickel contract on the SHFE stood at 97,710 yuan ($14,209) per tonne as at 9.46am Shanghai time on...Read More
Turkish rebar export prices have gone down over the past week because of the limited levels of current demand, sources said on Thursday May 16.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $450-460 per tonne fob on an actual weight basis on May 16, down from last week's $460-470 per tonne.The...Read More