Prices for hollow steel sections in Europe dipped further this week with buyers rejecting current offer prices, sources told Fastmarkets on Wednesday May 20. Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?560-580 ($612-634) per tonne on Wednesday, down from ?,?580-590 per tonne one week previous. "We are not buying, domestic prices...Read More

Another day, another fight over hydroxychloroquine (HCQ)...On the data side, more and more evidence mounts that not only does HCQ make a positive difference in lessening the impact of covid-19 (when delivered early along with zinc and an antibiotic like azithromycin), but it also appears to work effectively when taken in advance of infection as a preventative measure. On the headline side, it's "d...Read More

Turkish steel mills stayed out of the deep-sea scrap market on Wednesday May 20, with national holidays and Covid-19 lockdown measures continuing to inhibit trading activity, sources told Fastmarkets.In addition to the public holiday on May 19 and the upcoming Eid al-Fitr break - from Friday May 22 to Tuesday May 26 to mark the end of Ramadan - the country's major cities remained subject...Read More

Prices for H2-grade heavy steel scrap remained stable in Japan over the past week after several deals were booked to Vietnam, market sources told Fastmarkets on Wednesday May 20.Deals for H2 material were heard at ?23,000 ($214) per tonne fob to Vietnam in recent days, equivalent to $248 per tonne cfr South Vietnam and $253-255 per tonne cfr North Vietnam, Fastmarkets heard.The Japanese deals cam...Read More

Seaborne iron ore prices fell on Wednesday May 20 amid slow trading activity, bringing to an end a run of consecutive increases seen since the start of May.Fastmarkets iron ore indices  62% Fe fines, cfr Qingdao: $96.95 per tonne, down $1.41 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $99.54 per tonne, down $1.45 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $84.05 per t...Read More

Iranian export billet and slab prices have begun to recover in the second half of May, supported by demand from customers in Asia, sources told Fastmarkets on Wednesday May 20.At least three cargoes of Iranian billet, totaling up to 100,000 tonnes and scheduled for shipment in July-early August, were sold at $348-350 per tonne fob this week to China and Southeast Asia, they said. Seven days a...Read More

Trading activity in China's domestic rebar market dropped on Wednesday May 20 after prices rose to their highest since the Chinese New Year a day earlier, but they held up during the day despite the weaker demand.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($501-505) per tonne, unchangedBuyers cut their procurement rates during the day amid the high prices after seeing rebar futures fluctu...Read More

The high-carbon and low-carbon ferro-markets in Europe increased in price last week, while industry sources reported around 900 tonnes of done deals in the former and about half of that for more refined-grade material.The high-carbon ferro-chrome price spread narrowed to $0.12 per lb after deals were reported that raised the lower end of the assessment.Deals for around 900 tonnes were reported and...Read More

Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More

Swedish steelmaker SSAB plans to extend temporary layoffs for its Finnish sites until September at least in a response to a downturn in the European steel market, the company said in a release on Wednesday May 20. In April, SSAB agreed temporary layoffs at its Finnish sites averaging three weeks in April-June with its employees and announced steelmaking output cuts. With economic conditions a...Read More

Dilip Oommen, chief executive officer of ArcelorMittal Nippon Steel India (AMNS), has been appointed as president of the Indian Steel Association (ISA).The decision was made in an extraordinary board meeting held on Tuesday May 19, the ISA said. Oommen takes the position from TV Narendran, CEO and MD of Tata Steel. He starts the role after more than 37 years of experience in the international stee...Read More

Production at Bosnian steelmaker ArcelorMittal Zenica has been interrupted by a strike, with unions protesting against temporary layoffs, sources told Fastmarkets on Tuesday May 19.The strikes were called on May 19 and affected all operations at the Zenica site except for the coking plant, sources said. The unions did not disclose how long the strikes will last....Read More

Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More

Cobalt has continued to trade on either side of $15 per lb so far this week, with thin spot demand, lockdowns and economic uncertainty created by the Covid-19 pandemic limiting scope for gains despite some sellers holding back from the spot market. Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $14.80-15.20 per lb on Wednesday May 20; the price has remained...Read More

The zinc premium in the United States moved for the first time in nine months, hitting a more than three-year low amid slack demand stemming from the Covid-19 pandemic. Zinc premiums in northern Italy, meanwhile, rose after lockdown restrictions eased.Battery giant Exide Technologies is seeking Chapter 11 bankruptcy protection under US Bankruptcy Code, announcing plans to sale of its North America...Read More

The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied duty-unpaid US Midwest aluminium premium, as well as any changes to its methodology that may alter premiums and impact contracts based on their current methodology. Mary Jane Saunders, the trade association's General Counsel, said in a letter to the price reporting agency on May 18 that the proposal was "inco...Read More

Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More

How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More

The smooth flow of material from South Africa will remain uncertain for a considerable period even after the country eased its restrictions on activity in response to the Covid-19 virus. South Africa entered lockdown on March 26, which severely tightened exports of 37% manganese ore, UG2 chrome ore and foundry grade chromite, among other materials. The government has since granted permission for m...Read More

China Iron & Steel Association (Cisa) forecasts the country could post a decline of 16 million tonnes in steel exports in 2020 amid the Covid-19 pandemic, sources told Fastmarkets. The association convened with several major mills on May 12 to address concerns of the country's rising imports against falling exports in the steel industry, two sources familiar with the meeting said. Steel export bus...Read More