Russia has criticized Mexico at the World Trade Organisation (WTO) for maintaining anti-dumping duties on Russian steel exports, which it claims are outdated, being based on pricing assessments using data from a different country.The Mexican government used this method for past dumping calculations on Russian steel because it is permitted under WTO rules where a government dominates an economy tha...Read More
UK long steel producer British Steel has been granted approval from a French court to take over troubled French special steelmaker Ascoval, the company said on Thursday May 2.Following the approval from the tribunal de grande instance (TGI) in Strasbourg, Ascoval, which is located in Saint-Saulve, Northern France, will officially become part of British Steel on Wednesday May 15 and will be renamed...Read More
While 2016 and 2017 each had a single, clear factor that drove up seaborne coking coal prices, this was a key feature that was missing last year, when the market continued to strengthen regardless.And if the first few months of 2019 are anything to go by, the seaborne coking coal market might have just reached a new level of complexity.When China decided to tackle overcapacity in its coal sector i...Read More
Russian billet and rebar producer Abinsk Electic Steel Works (Abinsk) has entered into a definitive agreement with compatriot Severstal to buy its long-products mini-mill in Balakovo in the Volga federal district.The transaction, worth $215 million, is expected to be completed by the end of June, following the receipt of approvals and other standard conditions."Following the sale of mini-mill Bala...Read More
Prices for flat steel products in the Brazilian domestic market remained largely unchanged this month as local steelmakers successfully applied a price increase for distributors.Fastmarkets' monthly price assessment for Brazilian domestic hot-rolled coil was at 2,560-2,610 Reais ($650-662) per tonne ex-works on Friday May 3, unchanged from April's assessment. Fastmarkets' monthly price assessment...Read More
With LME Asia Week now in full swing, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year's event: How will aluminium premiums in Japan and South Korea likely fare for the rest of the year?The main Japan ports (MJP) aluminium premium typically rises during the peak demand season seen during the second quarter of each year, Fastmarkets MB data indi...Read More
Comex copper remained in a fixed range to open the week, with European market participants sidelined for a public holiday.Comex copper remained in a fixed range to open the week, with European market participants sidelined for a public holiday.The copper price for July settlement on the Comex division of the New York Mercantile Exchange inched up 0.95 cents to $2.8285 per lb.In a post overnight on...Read More
Here are five Fastmarkets MB stories you might have missed on Monday May 6 that are worth another look.With LME Asia Week now in full swing, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year's event: How will aluminium premiums in Japan and South Korea likely fare for the rest of the year?Nearly 1,500 delegates will descend upon Singapore this w...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
Physical iron ore prices were rangebound on Monday May 6 amid limited trading activity in the wake of further trade uncertainties between China and the United States, as well as the start of steelmaking restrictions in Tangshan.MB 62% Fe Iron Ore Index: $94.34 per tonne cfr Qingdao, up $0.17 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.37 per tonne cfr Qingdao, up $0.17 per tonne. MB 62% Fe...Read More
Market participants are expecting stability for seaborne coking coal prices, at least in the near term, despite macroeconomic pessimism generated by the threat of higher import tariffs on Chinese products in the United States."[The tariff threat] is old news. Besides, supply and demand in the seaborne coking coal market are in a tight balance now, so the threat will not have any direct impact on p...Read More
China's hot-rolled coil market appeared to have held up against threats of higher import tariffs in the United States on Monday May 6, though sentiment took a beating, which could result in some downside for prices.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($603-604) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedSpot prices were largely stab...Read More
Physical iron ore prices were rangebound on Monday May 6 amid limited trading activity in the wake of further trade uncertainties between China and the United States, as well as the start of steelmaking restrictions in Tangshan.MB 62% Fe Iron Ore Index: $94.34 per tonne cfr Qingdao, up $0.17 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.37 per tonne cfr Qingdao, up $0.17 per tonne. MB 62% Fe...Read More
Market participants are expecting stability for seaborne coking coal prices, at least in the near term, despite macroeconomic pessimism generated by the threat of higher import tariffs on Chinese products in the United States."[The tariff threat] is old news. Besides, supply and demand in the seaborne coking coal market are in a tight balance now, so the threat will not have any direct impact on p...Read More
Here are five Fastmarkets MB stories you might have missed on Monday May 6 that are worth another look.With LME Asia Week now in full swing, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year's event: How will aluminium premiums in Japan and South Korea likely fare for the rest of the year?Nearly 1,500 delegates will descend upon Singapore this w...Read More
Copper stocks in Shanghai-bonded warehouses rose slightly in April compared with March, while muted trading activity last month pushed the bonded warrant premium for the red metal to a 13-month low.Despite the slight increase, market participants expect copper inventories to decline in the coming weeks and months because the second quarter of the year is traditionally associated with high metal co...Read More
Base metals prices on the Shanghai Futures Exchange were all down heavily during morning trading on Monday May 6, after US President Donald Trump threatened to raise tariffs on $200 billion of Chinese goods because US-China trade negotiations are moving "too slowly".In a post on social media platform Twitter overnight, Trump said that tariffs of 10% on certain Chinese goods would increase to 25% o...Read More
ArcelorMittal plans to temporarily idle production at its steelmaking facilities in Poland, reduce production in Spain and adjust shipments at ArcelorMittal Italia, temporarily reducing annualized production by 3 million tonnes, the company announced on Monday May 6.The company credited high energy costs, low demand and rising imports for the decision."These actions reflect the weak demand environ...Read More
China's hot-rolled coil market appeared to have held up against threats of higher import tariffs in the United States on Monday May 6, though sentiment took a beating, which could result in some downside for prices.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($603-604) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedSpot prices were largely stab...Read More
Import prices for steel slab in Southeast Asia and East Asia were unchanged over the past week amid quiet market conditions ahead of the start of the Islamic holy month of Ramadan.Re-rollers in Indonesia remain well-stocked and are in no rush to replenish supplies due to an expected reduction in business activity during Ramadan, a trader in Southeast Asia said.Ramadan starts on May 5 and ends on J...Read More