China imported 14,259 tonnes of flake graphite in April, up 156% year on year, while exports fell due to cheaper available stocks from Mozambique, according to official but unconfirmed data seen by Fastmarkets. While rising significantly year on year, imports were down 15.7% from March. Shipments to China fell month on month due to an uptick in imports in March, according to market sources. China...Read More
Benchmark cobalt prices edged lower again at the end of last week after some sellers cut their offers to secure larger tonnage inquiries after an early start to the quieter summer period. Fastmarkets MB assessed the standard-grade cobalt price at $16-16.55 per lb, in-warehouse, on Friday May 24, down from $16.20-16.75 per lb on May 22. Buying from consumers has tailed off in the past few weeks, an...Read More
Export prices for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) went up in the week ended Tuesday May 28 on improved market sentiment.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $470-490 per tonne fob Black Sea on May 28. This was up by $10 per tonne week on week."Despite talk about low demand in Turkey, the domestic a...Read More
Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.In the first quarter of 2019, Metinvest's consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volu...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have remained stable over the past week due to limited demand amid the observance of the Islamic holy month of Ramadan, sources told Fastmarkets on Tuesday May 28.The observance of Ramadan among Muslim communities typically results in shorter working days and reduced demand for materials. Ramadan began earlier t...Read More
Prices for cold-heading quality (CHQ) and high-carbon wire rod declined in the United States after costs for raw materials fell and buyers grew more confident that they'll enjoy an abundance of supply from producers. Fastmarkets AMM's monthly pricing assessment for cold-heading quality wire rod dropped to $43.50 per hundredweight ($870 per short ton) North American delivered duty paid Great Lakes...Read More
CIS export rebar and wire rod prices increased at the end of May, supported by fresh bookings at higher levels, sources told Fastmarkets on Tuesday May 28. They said positive sentiment in the market, driven by the reduction in duties on Turkish steel in the United States, had led to the resumption in buying activity.Several cargoes of June-rolling Ukrainian rebar were sold to E...Read More
The UK's Insolvency Service has made contact "with more than 80 potential trade purchasers" interested in buying troubled UK long steel producer British Steel, it said on Tuesday May 28.Sixty of the potential bidders have been sent non-disclosure agreements, with official expressions of interest due by early June, the UK's Official Receiver, part of the UK's Insolvency Service, said.British Steel...Read More
The Turkish steel mills have continued to book deep-sea scrap for June now that the United States has removed the extra import tariff for the country, sources said on Tuesday May 28.Three steel mills booked a total of 80,500 tonnes of deep-sea cargoes at the end of last week and the beginning of this week.A steel mill in the Izmir region booked a UK cargo, comprising 22,500 tonnes of HMS 1&2 (80:2...Read More
The Tuesday Market Minute Global stocks edge higher, pulling Wall Street futures into the green, amid ongoing questions over the fate of U.S.-China trade talks and broader market reaction to the weekend's European elections.President Donald Trump says the U.S. "is not ready" to make a deal with Beijing, but hints at an August pact with Japan following a four-day state visit to Tok...Read More
Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.In the first quarter of 2019, Metinvest's consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volu...Read More
Turkish domestic ship scrap prices have inched up over the past week, while auto bundle scrap prices have remained largely stable, sources said on Tuesday May 28.Only one steel mill in the Izmir region raised its buy price for ship scrap last week, by $3 per tonne to $295 per tonne, in line with the increasing imported scrap values.So Fastmarkets' weekly price...Read More
Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.In the first quarter of 2019, Metinvest's consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volu...Read More
Prices for steel billet and rebar in the United Arab Emirates dropped over the past seven days, while demand for both remained weak, sources told Fastmarkets on Tuesday May 28.Domestic rebarLocal demand for rebar remained weak because of the Islamic holy month of Ramadan, which started earlier in May, and the expectation that prices could fall further.The observance of Ramadan in Muslim commu...Read More
China's rebar prices were largely flat on Tuesday May 28 in both the domestic and export markets amid the mild movements of the long steel product's futures contract. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($580-587) per tonne, unchangedNorthern China (Beijing): 3,920-3,970 yuan per tonne, widened downward by 10 yuan per tonneDespite the steady price increases for iron ore in the past...Read More
Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.In the first quarter of 2019, Metinvest's consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volu...Read More
The UK's Insolvency Service has made contact "with more than 80 potential trade purchasers" interested in buying troubled UK long steel producer British Steel, it said on Tuesday May 28.Sixty of the potential bidders have been sent non-disclosure agreements, with official expressions of interest due by early June, the UK's Official Receiver, part of the UK's Insolvency Service, said.British Steel...Read More
China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marab??, a city in the Brazilian northern state of Par??, through its local subsidiary Concremat, the company said on Thursday May 23.Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in c...Read More
Manganese ore prices have been sliding for seven consecutive weeks and fell to 18-month lows over the past week amid buyer caution in China. 37% and 44% ore hit lowest levels since late 2017Alloy prices flatline across Asia and EuropeFurther price cuts predicted in ores and alloysUS alloy markets dormant Manganese ore prices continued their seven-week slide on Friday May 24 amid increasingly caut...Read More
Export prices for hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) went up in the week ended Tuesday May 28 on improved market sentiment.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $470-490 per tonne fob Black Sea on May 28. This was up by $10 per tonne week on week."Despite talk about low demand in Turkey, the domestic a...Read More