The graphite electrodes used in electric-arc furnace (EAF) steelmaking have changed from being a commodity to a strategic material, with prices surging last year amid drastic changes in market conditions, an industry conference has heard.Dr Mark Shujun Ma, the vice-chairman of the China Association of Small & Medium Enterprises, was speaking at the 78th meeting of the International Rebar Producers...Read More
Earnings at Brazilian steel and iron ore producer CSN dropped by 7% year-on-year in the first quarter of 2018 because of a fall in international iron ore prices over the same period.The fall in earnings came despite a boost to revenues from CSN's steel business due to a recovery in the domestic steel market, notably in the automotive and original equipment manufacturing sectors.The company's adjus...Read More
German steelmaker ThyssenKrupp expects "continued stable and high prices on the commodity and material markets" over the remainder of its financial year, which will end on September 30, 2018, it said on Tuesday May 15."Assuming that prices on the materials markets remain stable at a high level throughout the fiscal year, adjusted earnings before interest and taxes [Ebit] [will be] significantly hi...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia decreased slightly this week because of limited demand, sources told Metal Bulletin on Tuesday May 15.Buyers preferred to postpone bookings ahead of the Islamic holy month of Ramadan, which starts this week and will lead to a further reduction in market activity.Working hours will be reduced in Saudi Arabia, with Ramadan always...Read More
Industrial action has halted traffic along a key road for moving semi-carbonate manganese ore from mines in Hotazel in South Africa's Northern Cape. The R31 main road was blockaded on Tuesday morning in a dispute over pay to truck drivers. "This could seriously affect deliveries to all parts for all the miners in the area," a source said. The R31 is used to access various ports for "huge volumes"...Read More
Chinese ferro-silicon prices strengthened in the week ending Friday May 11 after production was cut in the country due to higher electricity costs for producers, with the trend seen persisting through June. Chinese consumers look to buy ahead of higher prices US market sags amid inactivity, more imports European spot market stagnates after second-quarter settlements Chinese domestic f...Read More
Global ferro-vanadium prices fell last week after Chinese ferro-vanadium exporters dropped offers amid a lack of buying interest, while European and US traders took advantage of arbitrage opportunities. Limited buying interest dragging down Chinese ferro-vanadium export prices European ferro-vanadium prices declined on profit-taking activity US ferro-vanadium market softens amid weake...Read More
China's import markets for charge chrome and chrome ore have shown signs of recovery after producers refused to cut offers. Charge chrome import prices gain in China UG2 chrome ore prices edge higherChina's domestic ferro-chrome prices holdAlloy prices weaken in South Korea and Japan Alloy prices flatline in Europe and the United StatesCharge chrome and chrome ore prices staged a modest rebound in...Read More
Good morning from Metal Bulletin's offices in Asia as we bring you the latest news and pricing stories on Tuesday May 15.Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Tuesday, with copper down amid disappointing Chinese data and rising stock levels.Check Metal Bulletin's live futures report here.SHFE snapshot at 10.44am Shanghai timeMos...Read More
Russia's Magnitogorsk Iron & Steel Works (MMK) has speeded up the implementation of major upstream investment projects included in its Strategy-2025 plan, the company's director for economics said last week.The company now hopes to commission its new sinter plant, with capacity for 5.5 million tonnes per year, in the first quarter of 2019, instead of the summer 2019 start that was initially schedu...Read More
Physical iron ore prices fell on Tuesday May 15, even though steel prices increased.Metal Bulletin 62% Fe Iron Ore Index: $67.28 per tonne cfr Qingdao, down by $1.65 per tonne Metal Bulletin 58% Fe Premium Index: $54.56 per tonne cfr Qingdao, down by $1.14 per tonne Metal Bulletin 65% Fe Iron Ore Index: $86.30 per tonne cfr Qingdao, up by $0.90 per tonne Metal Bulletin 62% Fe China Port Price Inde...Read More
The outlook for the seaborne coking coal market remains unclear, with buyers and sellers not seeing eye to eye when it comes to prices.A cargo of low-ranked premium hard coking coal was offered at $192-193 per tonne cfr China on Tuesday May 15, which resulted in a $7-8 per tonne gap with end-users' bids.There are at least three cargoes of premium low-vol materials and seven cargoes of premium mid-...Read More
China's ferrous futures all opened high but went on to tank during morning trading on Tuesday May 15, following the release of data pointing to a high supply of steel in the country.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,656 yuan ($577) per tonne, down 47 yuan per tonne October hot-rolled coil: 3,763 yuan per tonne, down 26 yuan per tonne Dalian Commodi...Read More
Gains in the billet and futures markets on Tuesday May 15 gave domestic rebar prices in China a small boost.Domestic Eastern China (Shanghai): 3,980-4,030 yuan ($628-636) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,940-3,970 yuan per tonne, narrowed upward by 10 yuan per tonne Traders raised their prices following gains in the futures market during Monday's night trading session as...Read More
The price of gold looks set to rise throughout 2018 with a number of underlying factors in the precious metal's favor, according to Ian Au, head of global research at Safe Gold Securities and Futures Ltd.Speaking at the Hong Kong Exchanges & Clearing's (HKEX) Precious Metals Seminar on Tuesday May 15, Au noted that there have been continued waves of political risk throughout the past few years whi...Read More
Sakthi Trading Group has entered a public-private partnership with the government of South Kivu in the Democratic Republic of Congo (DRC) to establish mining service centers for conflict-free sourcing of gold.The goal is eco-friendly and responsible sourcing of gold, Sakthi Trading chief executive officer Hariharan Sundarajan said at the HKEX precious metals seminar here on Tuesday May 15.Sakthi T...Read More
Sakthi Trading and its partners plan to build 10 service centers for small-scale miners in the eastern and western regions of Ghana as well as a refinery in the country, enabling eco-friendly and responsible sourcing of gold, chief executive officer Hariharan Sundarajan said.The government of Ghana has imposed a ban on illegal mining so "small scale and artisanal miners will need to approach the s...Read More
China Greatpower Jinchuan has initiated production of cobalt sulfate and cobalt chloride at its refinery in the Chinese province of Zhejiang at a time of mounting demand for sulfate despite elevated cobalt prices.The company expects to start making spot sales from June, a source at the company told Metal Bulletin.The refinery is expected to produce 2,000-2,500 tonnes of cobalt sulfate and chloride...Read More
Finnish stainless steelmaker Outokumpu has signed an agreement with Swedish engineering group Sandvik to acquire full ownership of the Fagersta stainless steel wire rod mill in Sweden for ?,?18 million ($21.53 million), it announced on Tuesday May 15.Fagersta Stainless is currently a 50:50 joint venture between Outokumpu and Sandvik. It made deliveries amounting to 52,000 tonnes in 2017, and gener...Read More
Manganese prices dropped further in China last week on weaker demand downstream. Ore prices fall as much as 6% Chinese alloy prices slide on weaker demand from steel mills Indian silico-manganese weakens European alloy prices flatline US ferro-manganese holds; silico-manganese trading range narrows Manganese ore prices continued lower on Friday May 11 amid weakening demand due to shrinking purchas...Read More