German steelmaker Thyssenkrupp is seeking a partner to consolidate its loss-making steel business, sources told Fastmarkets on Monday May 18.The company was reported to have started negotiations with a number of companies over the sale of a share in its steel business.Thyssenkrupp neither confirmed nor denied this information."No further comment at this moment," a spokesperson for Thyssenkrupp sai...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved down again due to limited trading activity, sources told Fastmarkets on Monday May 18.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?410.00 ($443.42) per tonne on Monday, down by ?,?1.88 per tonne from ?,?411.88 per tonne on May 15.Monday's index was calculated based on "workable" prices and bi...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was stable to slightly lower week on week on Monday May 18 while buying started to recover slowly, sources told Fastmarkets.Trading activity in the steel rebar market in the region has started to improve slowly following the gradual restart of the key rebar consumption sector - the construction industry - last week."Some c...Read More
Rebar buyers in Singapore are expecting a slow start to trading in the spot market once the government starts to lift Covid-19 over the next few weeks.About 20,000 construction workers will resume work gradually at infrastructure projects deemed to be critical, or at sites that need work to continue for safety reasons, according to Singapore's Building and Construction Authority (BCA). They will j...Read More
China's steel rebar prices increased in both the domestic and export markets on Monday May 18 due to rising production costs, Fastmarkets was told.Domestic Eastern China (Shanghai): 3,530-3,560 yuan ($496-500) per tonne, up by 70 yuan per tonneRaw materials' prices moved up in the past two weeks, pushing up rebar mills' production costs and supporting rebar prices in the spot market, sources said....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
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) expects to ship 32 million tonnes of iron ore in 2020, chief financial officer Marcelo Ribeiro said on Friday May 15.The company aims to increase its output rate through the remainder of the year, after heavy rainfall cut production in the first quarter. CSN changed its 2020 output guidance to include third-party purchases...Read More
The deep-sea scrap import market in Turkey was quiet and prices stable on Monday May 18, with the country's major cities under lockdown due to the Covid-19 pandemic until Tuesday night, May 19, sources said.Overall demand for deep-sea scrap is slow because of both the pandemic and the Islamic holy month of Ramadan, when steel trade traditionally slows in Muslim countries. "Turkish steel mills are...Read More
Prices in the export markets for CIS steel slab moved in differing directions in the week to Monday May 18, with a widening gap between workable prices in the traditional outlets such as Italy and Turkey and those possible in China, which has become an active slab importer recently.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $330-350 per tonne on May 18, wi...Read More
China's steel rebar prices increased in both the domestic and export markets on Monday May 18 due to rising production costs, Fastmarkets was told.Domestic Eastern China (Shanghai): 3,530-3,560 yuan ($496-500) per tonne, up by 70 yuan per tonneRaw materials' prices moved up in the past two weeks, pushing up rebar mills' production costs and supporting rebar prices in the spot market, sources said....Read More
Import prices for steel slab in Southeast Asia and East Asia surged over the past week on strong demand from Chinese importers, sources told Fastmarkets. Producers were mainly focused on selling their export allocations to Chinese import traders, who were willing to buy in larger quantities and at higher prices than other Asian customers, market participants said.Fastmarkets' price assessment for...Read More
The Indian silico-manganese export price range fell 6% last week after export sales have been declining since the start of May when suppliers pushed prices higher, in line with stronger manganese ore prices and after manganese alloys production was slashed in India, Fastmarkets heard. In Europe, high-carbon ferro-manganese and silico-manganese market prices also eased amid quiet spot activity and...Read More
Ferro-silicon prices fell by almost 9% in Europe over the past week, with suppliers cutting their offer prices and doing deals well below the previous market range, sources said.Steelmakers were already rolling over quarterly settlements into the third quarter from the current quarter, suggesting quieter demand and further downward pressure on spot prices in the coming months, trade sources said.F...Read More
German steelmaker Thyssenkrupp is seeking a partner to consolidate its loss-making steel business, sources told Fastmarkets on Monday May 18.The company was reported to have started negotiations with a number of companies over the sale of a share in its steel business.Thyssenkrupp neither confirmed nor denied this information."No further comment at this moment," a spokesperson for Thyssenkrupp sai...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) expects to ship 32 million tonnes of iron ore in 2020, chief financial officer Marcelo Ribeiro said on Friday May 15.The company aims to increase its output rate through the remainder of the year, after heavy rainfall cut production in the first quarter. CSN changed its 2020 output guidance to include third-party purchases...Read More
Market focus is on the annual sittings of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference, or "twin sessions", later this week, with the fate of ferrous supply chain prices depending on its aftermath. The annual gatherings of China's national legislature and top political advisory board are the major risk events market par...Read More
Here are five Fastmarkets stories you might have missed on Monday May 18 that are worth another look.The departure of the chief executive officer of Tata Steel Netherlands, Theo Henrar, will result in job losses at the company's operations in the country, trade union FNV Metaal said on May 18.How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now...Read More
The latest data for the global manganese ore market for the week ended May 18, 2020.Read More
Prices in the export markets for CIS steel slab moved in differing directions in the week to Monday May 18, with a widening gap between workable prices in the traditional outlets such as Italy and Turkey and those possible in China, which has become an active slab importer recently.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $330-350 per tonne on May 18, wi...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