A summary of the financial results for Swedish steelmaker SSAB for the fourth quarter and full year of its financial year in 2019. In brief Earnings drop on planned maintenance, lower shipments and strikes as well as weaker demand and pressured steel prices.SSAB GroupFourth-quarter 2019 results Loss before interest and taxes1.31 billion Swedish krona ($117.4 million), down from earnings befor...Read More
A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association (Worldsteel).A total of 1.87 billion tonnes of crude steel were produced last year, compared with 1.81 billion tonnes a year earlier, Worldsteel said.Steel production in China continued to rocket upward, with steelmakers in the country...Read More
A summary of the financial results for Swedish steelmaker SSAB for the fourth quarter and full year of its financial year in 2019. In brief Earnings drop on planned maintenance, lower shipments and strikes as well as weaker demand and pressured steel prices.SSAB GroupFourth-quarter 2019 results Loss before interest and taxes1.31 billion Swedish krona ($117.4 million), down from earnings befor...Read More
David Becker5 hours ago (Jan 28, 2020 07:33 PM GMT)Gold prices moved lower on Tuesday reversing the prior days’ rise. There was a reversal of a breakout of a cup and saucer pattern, as prices made a lower high and a lower low. Risker assets rebounded which reversed some of the demand for safe-haven assets. The circulation of the coronavirus that has spread throughout Wuhan China, continues...Read More
A lack of information on the extended Section 232 tariffs that were announced by US President Donald Trump on Friday January 24 has made it difficult to predict the impact on the downstream steel and aluminium markets.The steel and aluminium tariffs will be set at 25% and 10% respectively and will take effect on February 8, according to the presidential proclamation.A list of targeted goods h...Read More
Aluminium premiums in Europe continued to buck the general trend in the week ended Tuesday January 28, rising further while premiums in Asia and the United States were static.Rotterdam duty-unpaid premium climbs to highest since August US Midwest premium holds at 23-month low Domestic Brazil premium edges higher Asia premiums static due to lunar new year holiday. Tight availability fuels European...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 28.Click on...Read More
Mexican steel scrap prices changed little in the week ended Friday January 24, with market participants waiting to see a clearer definition of the international price trend.Until the previous week, Mexican prices had shown consecutive price rises, but this was interrupted by a shift in the global trend for the raw material.Fastmarkets' weekly assessment of the steel scrap No1 heavy melt consumer b...Read More
Flat steel export prices from the Commonwealth of Independent States (CIS) were stable in the week ending Monday January 27, although the direction prices might take remains unclear because of the opposing moods of suppliers and buyers.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea was $475-490 per tonne on Monday January 27, unchanged we...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums i...Read More
Aluminium premiums in Europe continued to buck the general trend in the week ended Tuesday January 28, rising further while premiums in Asia and the United States were static.Rotterdam duty-unpaid premium climbs to highest since August US Midwest premium holds at 23-month low Domestic Brazil premium edges higher Asia premiums static due to lunar new year holiday. Tight availability fuels European...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Trading activity in the seaborne iron ore market was muted on Tuesday January 28 with markets in China closed for a week-long public holiday for the Chinese New Year, which has been extended until Sunday in light of the coronavirus outbreak in the country. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.71 per tonne, unchanged 62% Fe Pilbara Blend fines, cfr Qingdao: $92.75 per tonne, u...Read More
The London Metal Exchange three-month nickel price hit a seven-month low at $12,550 per tonne on Tuesday January 28, precipitated by risk-off selling while the uncertainty in Asian markets mounts due to China's growing coronavirus epidemic. "All eyes have been on the underlying nickel price with the market hitting a seven-month low on the coronavirus outbreak. Funds have shifted into risk-off mode...Read More
Chilean copper content in mine production is estimated to reach 7.04 million tonnes in 2030, rising by 19.7% from 5.88 million tonnes expected in 2019, the country's copper commission Cochilco announced.Cochilco used the current project pipeline in the country as a basis for calculating production trends, it said on Monday January 27. In a bullish scenario, output could hit 8.08 million tonne...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.A strong rise in Chinese steel production led the way to a 3.4% year-on-year increase in global crude steel output in 2019, according to the World Steel Association.Aluminium premiums in Europe continued to buck the general trend in the week ended January 28, rising further while premiums i...Read More
The London Metal Exchange three-month nickel price was slightly higher during morning trading on Tuesday January 28, with dip-buying momentum prompting a marginal uptick, while copper futures failed to gather momentum.Nickel's outright price on the LME was recently at $12,710 per tonne - above Monday's closing price of $12,610 per tonne - with some 1,200 lots exchanged as of 9:20am London time.&nb...Read More
Glencore have appointed Mike Westerman to the position of acting head of copper assets following the departure of Mike Ciricillo.Westerman accepts the role after having been chief operating officer of Glencore's Australian copper assets for several...Read More
The United States' steel imports declined by nearly 18% in December compared with the same month in 2018 but rose by 0.5% sequentially.Steel mill product imports totaled 1,409,279 tonnes in the final month of last year, according to preliminary data updated on Monday January 27 by the US Commerce Department's Enforcement and Compliance division. That's down from 1,717,818 tonnes in Dece...Read More
US hot-rolled coil prices remain volatile around $30 per hundredweight ($600 per short ton) on hopes that longer lead times will allow mills to keep prices stable.But persistent concerns about demand - amid heightened fears that the coronavirus could hurt the broader economy - have kept buyers on the sidelines, sources said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calcu...Read More