Prices for export billet originating from the Commonwealth of Independent States (CIS) softened in the week to August 5 due to multiple low bids from Turkish and Chinese customers.Earlier in the week, information about a 20,000 tonne shipment of 3sp Ukraine-origin billet sold to Libya at $690 per tonne cfr was heard. The price nets back to $645 per tonne fob Black Sea, the source said.According to...Read More
The domestic markets for hot-rolled coil across Europe were seasonally quiet on Thursday August 5, with prices holding stable, Fastmarkets heard.European buyers have replenished their HRC stocks and were largely holding back from trading while evaluating the market situation. Regular trading activity was expected to revive toward September, following the traditional market activity cycle in Europe...Read More
Benjamin Baptista will retire and leave his role as chief executive officer of ArcelorMittal's Brazilian unit on September 30 after 12 years, with current Latin America long steel CEO, Jefferson De Paula, to replace his role, Baptista said on Tuesday August 3.Baptista joined ArcelorMittal in 1983, when it was still called Companhia Sider??rgica de Tubar??o (CST). It was later bought by Arcelor, to...Read More
US hot-rolled coil import prices dropped in Fastmarkets' latest assessment, while prices for imported cold-rolled coil and galvanized sheet simultaneously climbed to record highs. "It seems that every country wants to sell to the US right now," an East Coast trading source said. "Of course the Turks, but also Vietnam, Indonesia, Malaysia, etc. Furthermore, a few of these countries have material fo...Read More
Bangladeshi steelmakers have showed only limited interest in buying imports of steel scrap over the last week amid a continuing strict lockdown in the country, sources said on Thursday August 5.The country's strict Covid-19 lockdown was extended until Tuesday August 10, government officials announced on August 3. A feature of this latest lockdown is that most heavy industry such as steel productio...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 5 that are worth another look.Brazil has joined other major commodity producers in South America, such as Chile and Peru, in a debate about whether to increase mining royalties because of soaring prices - and it can be...Read More
The three month price of zinc outperformed the rest of the London Metal Exchange complex with a 1.8% rise on Thursday August 5 and most other prices advanced despite limited traded volumes. The metal rose to $3,028.50 per tonne on Thursday, its highest close since Monday, when it reached $3,050.50 per tonne. Top Canadian miner Teck Resources announced late on Wednesday that its Trail Ope...Read More
Brazilian imports of primary unalloyed aluminium rose by 142% year on year in July, putting a newly approved duty-free quota extension under pressure, according to data published by the ministry economy on Wednesday August 4.The country imported 37,181 tonnes of primary aluminium in July, up significantly from 15,376 tonnes a year before.During the January-July period, imports totaled 26...Read More
Work at miner Teck Resources' Trail Operations, in southwestern British Columbia, Canada, has been disrupted by smoke from wildfires in the region, Teck announced on Wednesday August 4.The Canada-based company said that its zinc refining operations at Trail were running at about 70% of normal rates, and that although lead refining continued to operate normally, lead smelting operations have been t...Read More
A summary of Canadian copper producer Taseko's second quarter financial and operating results, released on Wednesday August 4. Canadian mining company Taseko reported a 4.7% increase in total revenue during the second quarter of 2021 in comparison with the same period in 2020.The company's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter were do...Read More
Bangladeshi steelmakers have showed only limited interest in buying imports of steel scrap over the last week amid a continuing strict lockdown in the country, sources said on Thursday August 5.The country's strict Covid-19 lockdown was extended until Tuesday August 10, government officials announced on August 3. A feature of this latest lockdown is that most heavy industry such as steel productio...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 5 that are worth another look.Brazil has joined other major commodity producers in South America, such as Chile and Peru, in a debate about whether to increase mining royalties because of soaring prices - and it can be...Read More
Cobalt hydroxide prices rose recently despite weakness in downstream salt prices in the domestic Chinese market, as ongoing disruptions and delays at port operations in South Africa have prompted sellers to keep their offers firm and take advantage of spot sales where buyers need prompt availability.Fastmarkets' assessment for the cobalt hydroxide payable indicator, min 30% Co, cif China was 88-92...Read More
Increased South African exports of semi-carbonate manganese ore are filling up inventories at Chinese ports, according to market sources.Fastmarkets assessed the manganese ore inventories at the main Chines ports of Tianjin and Qinzhou at 5.65-5.87 million tonnes on Monday August 2, up from 5.32-5.60 million tonnes a month earlier, but down from 6.35-6.46 million tonnes at the start of 2021.But th...Read More
Iron ore prices decreased on Thursday August 5 with reduced market expectations of looser steel production restrictions in China, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.55 per tonne,down $12.14 per tonne62% Fe low-alumina fines, cfr Qingdao: $172.76 per tonne,down $11.63 per tonne58% Fe fines high-grade premium, cfr Qingdao: $136.28 per tonne,down $11.63 per tonn...Read More
Stahl-Holding-Saar (SHS) and its subsidiary, Saarstahl, have acquired the steel plants at Ascoval and Hayange in France from Liberty Steel, Saarstahl said on Thursday August 5.The acquisition has been formally validated by the French authorities, but the value of the deal was not disclosed."We are proud that our industrial concept for the takeover of Ascoval and Hayange has been validated and can...Read More
Brazilian imports of primary unalloyed aluminium rose by 142% year on year in July, putting a newly approved duty-free quota extension under pressure, according to data published by the ministry economy on Wednesday August 4.The country imported 37,181 tonnes of primary aluminium in July, up significantly from 15,376 tonnes a year before.During the January-July period, imports totaled 26...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 5 that are worth another look.Brazil has joined other major commodity producers in South America, such as Chile and Peru, in a debate about whether to increase mining royalties because of soaring prices - and it can be...Read More
The emergence of cheaper South Korea-origin steel scrap in the market has reduced prices for imported scrap in China, with the Chinese market is still reeling from strict production cuts, sources told Fastmarkets on Thursday August 5.Chinese scrap demand has been dampened by lower converter and EAF operation rates Strong shredded prices in Pakistan prevented sales to Bangladesh A major South Korea...Read More
A summary of European copper producer Aurubis' third quarter financial and production results released on Thursday August 5In brief:?EUR?Europe's largest copper producer, Aurubis, reported a 62% increase in total revenue during the third quarter (April-June) of its 2020/21 fiscal year compared with the same period last year.?EUR?The company's earnings before tax (EBT) were also up by 98% duri...Read More