The main workers' union representing employees of Cobre Panam??, Utramipa, is pressuring Panamanian authorities to reopen the largest copper mine in Central America as soon as possible due to the suspension of labor contracts in late April, Fastmarkets heard."We demand an immediate reopening of the mine," a union announcement read on Sunday June 7. "We have already had four fortnights without pay....Read More
Portside manganese ore prices in China continued to slide in the week to Friday June 5 in response to some traders lowering their offer prices amid cautious buying from domestic alloy smelters and weak market sentiment.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 44.90 yuan ($6.34) per dry metric tonne unit (dmtu) on June 5, equivalent to $5.47 per dmtu...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
Bearish sentiment strengthened in China's silicon export market after plants in southern China gradually restarted operations amid a weak overseas demand, sources said.Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,370-1,430 per tonne on Friday June 5, down by $20 per tonne (1.4%) from $1,390-1,450 per tonne a week earlier. China's silicon export price stre...Read More
The imported deep-sea scrap prices in Turkey have continued to move up with more deals heard in the market, sources said on Monday June 8.Turkish steel mills have been active in the deep-sea scrap markets for the past couple of weeks since the easing of Covid-19-related restrictions and improving domestic demand for steel products in Turkey.Three new scrap cargoes were heard late on Frid...Read More
Exports of ferrous scrap from Japan jumped by 46.3% year on year in April amid strong demand from Vietnam and Taiwan, according to statistics from the East Asian nation's finance ministry. The country exported a total of 903,016 tonnes of scrap in that month, compared with 617,333 tonnes a year earlier.April's exports are the highest since May 2013; the country shipped 928,040 tonnes abroad in Apr...Read More
Base metals prices were mixed this morning, Monday June 8, after a positive performance on Friday following the surprisingly strong employment report in the United States.Asian-Pacific equities, although stronger this morning, were not up by the same extent as western equity indices were on Friday. China's exports rose by just 1.4% year on year in May after rising by 8.2% in April. Imports fell by...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonneThe exchange rate on Friday June 5 at 46,000 yuan to $6,462.Friday June 5Price unchan...Read More
Spot cobalt hydroxide payables came off their recent highs during the second half of last week with consumers having completed the bulk of their recent restocking drive. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China stood at 65-66.5% of the standard-grade metal price (low-end) on Friday June 5, narrowing downward from 65-67% on June 3."Everyone is taking a pause to take th...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
Domestic prices for hot-rolled coil in Europe continued to slide during the week to Friday June 5 amid low demand.Fastmarkets' daily steel HRC index, domestic, exw Northern Europe was calculated at ?,?398.75 ($450.26) per tonne on Friday, down by ?,?1.96 per tonne week on week and by ?,?24.25 per tonne month on month.Friday's index was calculated based on deals and workable prices heard at ?,...Read More
Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6. ArcelorMittal presented a new industrial plan to the Italian authorities last week that included 5,000 job cuts, market sources told Fastmarkets. In early March this year, before the Co...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
Retail prices for rebar decreased in Egypt, with market participants expecting producer prices to follow down and in line, sources told Fastmarkets on Monday June 8.Rebar is now sold at E ?9,200-9,750 ($566-599) per tonne including 14% VAT in retail market, narrowing downward from E ?9,200-10,100 per tonne, Egyptian traders informed Fastmarkets.On May 21, Egypt's...Read More
Prices for steel rebar in Russia's Central Federal District around Moscow stabilized over the past week, while trading activity remained modest, sources told Fastmarkets on Monday June 8.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT was at 31,500-32,000 roubles ($459-466) per tonne on Monday, same as last week.Buying was sti...Read More
The imported deep-sea scrap prices in Turkey have continued to move up with more deals heard in the market, sources said on Monday June 8.Turkish steel mills have been active in the deep-sea scrap markets for the past couple of weeks since the easing of Covid-19-related restrictions and improving domestic demand for steel products in Turkey.Three new scrap cargoes were heard late on Frid...Read More
Iron ore prices surged on Monday June 8 following Vale's suspension of its Itabira complex, despite its iron ore fines guidance being unchanged, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $105.67 per tonne, up $4.93 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.65 per tonne, up $5.41 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $94.53 per tonne, up $5....Read More
Exports of ferrous scrap from Japan jumped by 46.3% year on year in April amid strong demand from Vietnam and Taiwan, according to statistics from the East Asian nation's finance ministry. The country exported a total of 903,016 tonnes of scrap in that month, compared with 617,333 tonnes a year earlier.April's exports are the highest since May 2013; the country shipped 928,040 tonnes abroad in Apr...Read More
Fastmarkets' weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9. The prices affected:CIS export cold rolled coil $ per tonne fob Black SeaCIS export hot rolled coil $ per tonne fob Black SeaCIS export heavy plate (10-50mm) $ per tonne fob Black SeaCIS export rebar $ per ton...Read More
International trade protection measures continued to loom large over global steel markets over the past year - to which the impacts of the Covid-19 pandemic have created further challenges. Alongside Fastmarkets' annual ranking of steelmakers by output, our correspondents around the world review developments in their regional steel sectors Right now, most steelmakers will have much more on their m...Read More