Sales volumes for flat steel distributors in Brazil grew by 18.10% year on year in April 2019, amid destocking while large importers lost market share, local distribution association, Inda, said this week.Flat steel sales totaled 266,000 tonnes, up from 225,100 tonnes in April 2018. However, volumes were down by 15% compared with March's 312,900 tonnes, which was weaker than Inda's forecast o...Read More

Troubled UK long steel producer British Steel has been placed into compulsory liquidation following an order from the UK high court, the UK official receiver, part of the UK's Insolvency Service, said on Wednesday May 22."The company in liquidation is continuing to trade and supply its customers while I consider options for the business. Staff have been paid and will continue to be employed," a st...Read More

The quietness in the deep-sea scrap markets has continued because market participants were still looking for clarity in the export markets for finished products such as rebar, sources said on Wednesday May 22.After the United States reduced its tariff on steel imports from Turkey to 25%, from 50%, on May 17, Turkey was again in a position to supply to the US market.But scrap suppliers pulled back...Read More

Iron ore prices continued their uptrend on Wednesday May 22 with the Fastmarkets MB 62% Fe Iron Ore Index rising to more than $105 per tonne cfr China.MB 62% Fe Iron Ore Index: $105.78 per tonne cfr Qingdao, up by $3.75 per tonne.MB 62% Fe Pilbara Blend Fines Index: $103.97 per tonne cfr Qingdao, up by $3.75 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $108.26 per tonne cfr Qingdao, up by $2.50...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreBHP, Global Ore, 80,000 tonnes of 62% Fe...Read More

The ongoing consolidation of the Indian steel industry is a "right step" in bringing back growth and credibility to the domestic markets, Nathani Group's Zain Nathani said at the BIR 2019's World Recycling Convention & Exhibition in Singapore this week.The vice-president of BIR's Ferrous Division said bankrupt mills such as Bhushan Steel, Monnet Ispat & Energy, Essar Steel and Usha Martin have all...Read More

The reduction of Section 232 tariffs against Turkey was a "pivotal moment" for global ferrous scrap prices this year, market sources told Fastmarkets this week at the Bureau of International Recycling's 2019 World Recycling Convention & Exhibition in Singapore.Bearish market sentiment flipped straightaway overnight once United States president Donald Trump tweeted that the Section 232 tariffs...Read More

Global usage of electric-arc furnaces (EAF) by steelmakers was up 12% in 2018, largely due to China's ongoing drive to increase the quantity of ferrous scrap charged into blast furnaces (BF) to reduce pollution, statistics released by the Bureau of International Recycling this week at its 2019 World Recycling Convention & Exhibition in Singapore showed.EAFs accounted for 524 million tonnes of crud...Read More

The ongoing China-US trader war has battered the South Korean won, causing weaker demand for imports of Japanese scrap and dampening prices as a result."The bearish sentiment brought about by the China-US trade tensions has caused the South Korean won to depreciate because the South Korean economy is so dependent on Chinese demand," Hisatoshi Kojo of Japan's Metz Corporation said at the BIR 2019 W...Read More

Copper premiums in Shanghai dropped over the week ended on Tuesday May 21, with a slew of deals for SX-EW cathodes at low levels, while the spike in premiums in the United States may not last if key smelters return to the market.?EUR? Shanghai premiums drop down to two-year lows?EUR? US premiums pushed down while Comex copper trades at a small discount to the London Metal Exchange?EUR? European pr...Read More

London Metal Exchange base metals prices were suppressed in the morning session on Wednesday May 22, with macro-inspired bearish selling equating to thin trading volumes and a strengthened dollar exerting downward pressure."Base metals open in a sea of red amidst a stronger dollar [and] with low levels of general participation in our space we remain vulnerable to sharp price moves amidst lower liq...Read More

Base metals prices on the Shanghai Futures Exchange were down across the board during morning trading on Wednesday May 22, with a challenging macroeconomic backdrop and firm dollar weighing on the complex.Unresolved trade tensions between China and the United States, concerns over a slowdown in global economic growth and a strong dollar dented investors' appetite for commodity investment on Wednes...Read More

The following Fastmarkets minor metals prices changed on Wednesday May 22:Antimony MB free market regulus, $/tonne: $6,800-7,000 per tonne from $6,900-7,150Antimony MMTA standard grade II, $/tonne: $6,600-6,750 per tonne from $6,800-7,000Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 39,000-40,000 yuan per tonne from...Read More

Fastmarkets has amended the names and specifications of its China cobalt sulfate assessments, effective Wednesday May 22, 2019. Fastmarkets has assessed the price of cobalt sulfate, ex-works China, on a 20.5% Co basis since the assessment was launched in June 2018, but due to an error, the definition of cobalt purity for the assessment was incorrectly stated as "Co 20.5% min" instead of "Co 20.5%...Read More

Import prices for stainless steel in East Asia have declined over the week ended on May 22 because of limited buying interest amid the heightened trade tensions between China and the United States.China declared that it would impose duties on $60 billion worth of US goods from June 1 in retaliation to US president Donald Trump's announcement that the US would raise tariffs on $200 billion worth of...Read More

European Metal Recycling (EMR) has sold parts of specialty scrap recycler Metal & Waste Recycling (M&W) to UK-based Recycling Lives following a competition inquiry. As part of the transaction, the two London-based sites of M&W will be retained by EMR. The sale will complete on Thursday May 30, EMR said. The disposal comes following an intervention by...Read More

The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 22:Aluminium scrapBaled old rolled: ?720-740 per tonne from ?730-750Commercial cast: ?750-780 per tonne from ?750-800Group 7 turnings: ?430-450 per tonne...Read More

Germany's Aurubis has agreed to acquire copper-tin recycler Metallo Group in a ?,?380 million ($424 million) share purchase deal, it said on Wednesday May 22.Fastmarkets reported in February that TowerBrook Capital Partners, Metallo's private equity owner, was close to agreeing a sale of the company, which operates plants in Belgium and...Read More

A decline in output from the automotive market in Europe has negatively affected demand in the vanadium and ferro-chrome markets, with prices for both materials falling to multi-month lows.From January to April 2019, demand for new cars in the European Union decreased by 2.6% year on year to 5.3 million units registered in total, according to the European Automobile Manufacturers Association (ACEA...Read More

Young, new investors, you have time on your side.This is a very important factor to consider when choosing the right stocks for your RRSP, as the patience that this affords you is needed when considering investing in an undervalued stock in a cyclical industry.Here I would like to present to you a base metals stock that has underperformed, but that is now really trading at depressed valuations, Hu...Read More