Russian steelmaker Severstal is forming a joint venture with global tube & pipe producer Tenaris to build a oil country tubular goods (OCTG) plant in the Surgut area of West Siberia.The welded pipe plant will be "in close proximity to the main oil and gas companies," Severstal said on Tuesday February 5. The Russian steelmaker will have a 51% interest in the JV, while Tenaris will own the rem...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 5 that are worth another look.Honda Motor Co Ltd aims to electrify around two-thirds of the vehicles it produces by 2030, Honda managing officer Noriya Kaihara said at the 25th Mining Indaba in Cape Town, South Africa.Japan's Panasonic is considering investing in the upstream part of the battery raw materials indus...Read More
European distributors of flat steel products reported a 3.1% year-on-year drop in shipment volumes in 2018, Eurometal said this week. "Shipments decelerated mainly in the second half of 2018, with mounting uncertainties regarding the European automotive industry and related supplier sectors," the regional federation for steel, tube and metals distribution and trade, said on Monday February 4. ...Read More
Russian steelmaker Severstal is forming a joint venture with global tube & pipe producer Tenaris to build a oil country tubular goods (OCTG) plant in the Surgut area of West Siberia.The welded pipe plant will be "in close proximity to the main oil and gas companies," Severstal said on Tuesday February 5. The Russian steelmaker will have a 51% interest in the JV, while Tenaris will own the rem...Read More
European distributors of flat steel products reported a 3.1% year-on-year drop in shipment volumes in 2018, Eurometal said this week. "Shipments decelerated mainly in the second half of 2018, with mounting uncertainties regarding the European automotive industry and related supplier sectors," the regional federation for steel, tube and metals distribution and trade, said on Monday February 4. ...Read More
Turkey's imported flat steel volumes fell by 17.66% year on year in 2018, according to data released by the Turkish Statistical Institute (TUIK) last week.Turkey imported 6,908,686 tonnes of flat steel in January-December 2018, down from 8,390,305 tonnes in 2017.The decrease was largely due to weak demand for steel in Turkey's local market through 2018, especially in the second half of 2018, sourc...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 5.Please click...Read More
Copper's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Tuesday February 5, with moderate volumes and a surge in the US dollar index doing little to curb the metal's upward price movement, while the rest of the complex broadly consolidated.Climbing above $6,200 per tonne for the first time since October 2018, the three-month copper price continued t...Read More
Russian steelmaker Severstal is forming a joint venture with global tube & pipe producer Tenaris to build a oil country tubular goods (OCTG) plant in the Surgut area of West Siberia.The welded pipe plant will be "in close proximity to the main oil and gas companies," Severstal said on Tuesday February 5. The Russian steelmaker will have a 51% interest in the JV, while Tenaris will own the rem...Read More
Turkish deep-sea scrap import prices went up on Tuesday February 5 following the sale of a higher priced cargo, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic cargo comprising 25,500 tonnes of HMS 1&2 (80:20) scrap at $321.50 per tonne cfr and 7,500 tonnes of bonus at $331.50 per tonne cfr.This new cargo price is an increase when compared to the sale of a European carg...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 5 that are worth another look.Honda Motor Co Ltd aims to electrify around two-thirds of the vehicles it produces by 2030, Honda managing officer Noriya Kaihara said at the 25th Mining Indaba in Cape Town, South Africa.Japan's Panasonic is considering investing in the upstream part of the battery raw materials indus...Read More
Manganese ore prices are showing signs of recovery after a poor start to 2019 that was blamed largely on bearish sentiment around silico-manganese and steel markets in China.Low-grade manganese ore prices have edged up in late January amid a flurry of demand ahead of Chinese New Year, which meant some of the firmer offers in the market were successful, despite the fact that some miners had cut off...Read More
Consumption of ferrous scrap in the United Kingdom will continue to increase over the coming years amid an expansion in the UK operations of international metals group Liberty House, Fastmarkets MB's research team believes. UK scrap demand in 2018 is on course to rise for the first time in four years after Liberty restarted a second electric arc furnace (EAF) at its site in Rotherham, northern Eng...Read More
It's been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union. There's been a huge debate over how successful the tariffs - imposed on the grounds of national security and also applied at a 25% rate to steel - have been. Much depends on who you talk to, and what their s...Read More
Base metals trading fund Commodities World Capital has brought in Kevin Connors as its new chief executive officer, it said on Tuesday February 5. He will take on the role to allow founder and co-chief...Read More
Copper's three-month price on the London Metal Exchange continued its uptrend at the close of trading on Tuesday February 5, with moderate volumes and a surge in the US dollar index doing little to curb the metal's upward price movement, while the rest of the complex broadly consolidated.Climbing above $6,200 per tonne for the first time since October 2018, the three-month copper price continued t...Read More
Comex copper prices in the United States shrugged off earlier losses in morning trading on Tuesday February 5, with the base metals complex temporarily boosted by the lack of Chinese participation while the East Asian country begins its Lunar New Year holiday.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rebounded by 2.20 cents on February 5 to $2....Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday February 5, with most metals consolidating gains made at Monday's close while low stocks and a weaker dollar fail to prompt upward price action. Across afternoon trading on Monday, nickel, zinc and lead futures rallied to reach fresh highs, with low liquidity due to the Chinese New Year holidays contributi...Read More
Although base metals are under pressure in the short term, we have a bullish bias to our 2018 price forecasts given the supportive background of solid global economic growth and the fact that all six base metal markets look set to be in fundamental deficit this year. But each has a slightly different supply-side story and this aspect should be the main differentiator. For example, zinc's narrative...Read More
The Indian government's plans of hitting 300 million tonnes of steel capacity by 2030 sounds overambitious in the current scenario given that output only managed to reach the 101 million tonne mark in 2017 - indicating three-fold (Read More