Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...Read More
China's hot-rolled coil prices fell on Tuesday December 25 following plunges in the global financial markets with participants bearish on the macro-economic outlook, although exporters kept offer prices high due to a lack of urgency to sell.DomesticEastern China (Shanghai): 3,740-3,760 yuan ($542-545) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,650-3,670 yuan per tonne,...Read More
China's domestic rebar prices dropped on Tuesday December 25 amid weak demand on lower futures. Domestic Eastern China (Shanghai): 3,740-3,780 yuan ($542-548) per tonne, down 40 yuan per tonne Northern China (Beijing): 3,610-3,650 yuan per tonne, widened down 10 yuan per tonneRebar futures remained lower than Monday's settlement price of 3,465 yuan per tonne throughout Tuesday's tra...Read More
Base metals prices on the Shanghai Futures Exchange during Asian morning trading on Tuesday December 25 were broadly down led by nickel amid bearishness from a challenging macro-economic environment."The main factor pushing down base metals is the volatile macro-economic environment; last week the US Federal Reserve decided to raise interest rates again and there's still uncertainty over the...Read More
China's ferrous futures dropped in morning trading on Tuesday December 25. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,368 yuan ($488) per tonne, down 51 yuan per tonne May hot rolled coil: 3,354 yuan per tonne, down 38 yuan per tonne Dalian Commodity Exchange May iron ore: 483 yuan...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
Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company's industrial mining assets, a newly created position with oversight and responsibility for all Glenco...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
RAPAPORT... De Beers and Alrosa have released the dates of theirrough-diamond sales for 2019. Next year, De Beers will not hold a sight inOctober, replacing it with a sight in August instead. Alrosa sales also includegoods from its subsidiaries, Alrosa-Nurba, Severalmaz and Almazy Anabara.De Beers holds 10 sales, or sights, in Botswana every year, atwhich it sells about 90% of its rough suppl...Read More
RAPAPORT... Eurostar Diamond Traders has entered restructuringproceedings in Belgium, having amassed substantial debts, according to the company'scourt-appointed administrator.The Antwerp-based diamond manufacturer owes morethan $500 million to creditors across its global operations, Alain Van den Cloot, a lawyer at de ClippeleAdvocaten, estimated in an email to Rapaport News. Two Antwerp cou...Read More
RAPAPORT... Diamcor Mining's rough-diamond sales rose 62% year on yearto $1.4 million in the third fiscal quarter. The company sold 7,162 carats during the period which ends December 31, for an average price of $196 per carat, it said last week. At its December tender, the last of the quarter, the miner garnered$303,138 from the sale of 1,905 carats, at an average price of $159 per carat.Dia...Read More
(IDEX Online) - Lucapa Diamond Company Limited has declared an $8 million distribution and loan repayment. Of the $8 million, half will be distributed to the partners in the Lulo mine in Angola, with Lucapa receiving $1.6 million in line with its 40% interest. The other $4 million will be a loan repayment to Lucapa. The $8 million payment will come from the cash reserves of SML, the...Read More
(IDEX Online) - Maxim Shkadov, Director General of Russia's Kristall (Smolensk), the largest diamond manufacturer in Russia, is leaving the company to join ALROSA. He will be involved "in the issues of integration of ALROSA and Kristall, the two largest Russian enterprises in the field of production and manufacturing of diamonds," Kristall said in a statement. The integration o...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transactions: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. ...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBilletChina, billet,...Read More
Remember the "tea party" revolt in 2009-2010 against government bailouts and government spending? Remember the "fiscal cliff" drama of Dec. 31, 2012, when Congress raised taxes and cut spending to avoid a debt default and government shutdown? Remember the actual government shutdown in October 2013 as Republicans held the line against more government spending?Well, congratulations if you do, becaus...Read More