European prices for mesh-quality wire rod stayed flat across the continent on Wednesday January 30, with market activity almost at a standstill ahead of the imposition by the European Commission (EC) of new import quotas next month.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe stayed at ?,?530-550 ($606-629) per tonne delivered on Wednesday, with prices...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 30 that are worth another look.Brazilian iron ore pellet producer Samarco and its creditors have not reached a debt restructuring agreement by the end of a scheduled deadline, according to documents disclosed by the company on Tuesday January 29. Eastman Kodak Co was granted 40 exclusions to the United States...Read More
Roland Harings will take up the role of chief executive officer of German copper giant Aurubis in July 2019, the company said on Wednesday January 30.Harings will succeed current CEO J? 1/4 rgen Schachler in overseeing the business of Europe's largest copper producer.Since 2014, Harings has been CEO of Mansfelder Kupfer & Messing (MKM), a major European producer of semi-finished products of copper...Read More
The European tin premium dropped by $35 on the midpoint in the week ended Tuesday January 29 following a 1,000 tonne delivery to London Metal Exchange sheds, while other regional premiums were unchanged week on week in quiet markets. Premium for standard grade tin ingot, in-warehouse Rotterdam, falls 7.4% Adequate supply keeps US premiums unchanged Shanghai premium flat in quiet, pre-...Read More
Tim Li, vice president of Daye Nonferrous, will leave his position at the major Chinese copper smelter, Fastmarkets has learned. Li currently oversees the procurement of copper concentrates and blister copper for Daye, which has capacity of 700,000 tonnes per year of copper cathode. He will leave his...Read More
A summary of Nornickel's production results for the year ended December 31, 2018IN BRIEF: 2018 nickel and consolidated copper output exceeded production guidance forecast for the year amid productivity improvements.Completion of a downstream reconfiguration program, which...Read More
Zinc premiums in most regions were unchanged week-on-week amid sluggish demand, but a recovery was seen in the Italian market as low stocks buoyed prices ahead of the arrival of new shipments. Meanwhile, Indian lead premiums dipped on the futures price uptick on the London Metal Exchange (LME). Italian zinc premiums gain, underpinned by low stocks. Might be short-lived as new supply is on the wayZ...Read More
The price for rebar produced and delivered in Southern Europe remained stable on Wednesday January 30, with no new deals reported while market participants waited for a final proposal from the European Commission (EC) on its 2019 safeguarding import quotas.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?510-520 ($583-594) per tonne delivered on Wednesday, bu...Read More
Domestic prices for steel beams in Europe were unchanged on Wednesday January 30, with market conditions remaining stable this week, sources have told Fastmarkets.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-640 ($709-732) per tonne delivered on January 30, flat week on week."It seems that the reduction in scrap prices has...Read More
The price for rebar produced and delivered in Northern Europe remained flat on Wednesday January 30 on very little new business, as pressure builds ahead of the European Commission's final proposal for its 2019 import quotas, expected next week.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?530-550 ($606-629) per tonne delivered on Wednesday. The market has...Read More
Ukrainian steelmakers, excluding those in the eastern provinces that were seized by rebels in 2017, managed to increase their output of pig iron and steel in 2018, supported by favorable conditions in the global steel market, and higher prices in particular.Production of pig iron in Ukraine increased by 5% year-on-year in 2018 to 20.56 million tonnes, the country's steel union, Ukrmetallurgprom, s...Read More
The Gulf Co-operation Council nations (GCC) increased the import duty on rebar to 10% from the previous 5% iwithn effect from January 1, 2019, the Arab Iron & Steel Union (AISU) announced on Wednesday, January 30.The United Arab Emirates had earlier increased its own import duty on rebar to 10%, from the previous 5%, Dubai Customs announced on January 16.The AISU noted that the duty increase appli...Read More
Brazilian miner Vale is expected to compensate for most of the loss in output caused by the decommissioning of tailings dams by ramping-up other operations, analysts told Fastmarkets on Wednesday January 30.The company announced a potential 10% cut in its production guidance while decommissioning goes on. Vale intends to produce 400 million tonnes per year of iron ore from 2019 onward, but ending...Read More
Turkish deep-sea scrap import prices went up on Wednesday January 30 following another burst of fresh bookings completed at higher prices, sources told Fastmarkets.There were two cargoes booked from the United States.A steel mill in the Iskenderun region booked a US cargo comprising 30,000 tonnes of HMS 1&2 (80:20) at $310 per tonne cfr for February shipment.A second US cargo was booked by a mill...Read More
Seaborne iron ore prices surged above $80 per tonne on Wednesday January 30 amid market bullishness after Vale announced production cuts of 40 million tonnes per year due to the decommissioning of all its upstream tailings dams in Brazil.MB 62% Fe Iron Ore Index: $82.53 per tonne cfr Qingdao, up $3.84 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.37 per tonne cfr Qingdao, up $3.84 per tonne....Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, Global Ore,...Read More
China's hot-rolled coil prices spiked on Wednesday January 30 despite sellers winding down ahead of the Chinese New Year break, with developments in the iron ore market providing some upward momentum.DomesticEastern China (Shanghai): 3,780-3,800 yuan ($561-564) per tonne, up 40-50 yuan per tonneNorthern China (Tianjin): 3,720-3,740 yuan per tonne, up 30 yuan per tonnePrices rose during the day wit...Read More
The seaborne coking coal market strengthened further on Wednesday January 30 amid an emergence of higher bids.Bids for branded materials on trading platform Global Coal rose to $203 per tonne fob Australia during the day, compared with $189 per tonne fob a few days ago.Meanwhile, a top Australian brand was traded at around $208 per tonne cfr China via a miner's tender, according to various sources...Read More
Asian ferrous scrap prices are climbing due to steel mills looking to secure more steelmaking raw materials.This is on the back of possible iron ore supply cuts by key Brazilian miner Vale, which said it was expecting a production loss of 40 million tonnes while decommissioning all its upstream dams over the next three years."Steel mills in Asia are looking to purchase more ferrous scrap in case p...Read More
The US copper price built on previous momentum with optimism growing ahead of America and Chinese trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped by 4.15 cents to $2.7665 per lb. Scheduled trade talks between the United States and China could be one reason for this, while US Federal Reserve policymakers are expected to hold intere...Read More