Latest Steel news
HOTTER ON METALS: Apex Act not the answer to aluminium premiums
Wed, 19 Jun 2019 19:18:00 GMT
The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium.
LIVE FUTURES REPORT 19/06: LME zinc sheds 1.6% amid fresh inflows; Sn follows down
Wed, 19 Jun 2019 18:00:00 GMT
Zinc’s three-month price on the London Metal Exchange was subdued at the close of trading on Wednesday June 19, drifting below the nearby $2,500-per-tonne support level after steady inflows and dwindling demand continue to pressure the galvanizing metal’s outright price.
Steel shipments from Iran unaffected by Gulf crisis, but demand low
Wed, 19 Jun 2019 16:55:00 GMT
Shipments of steel products from Iran remained unaffected by the conflict in the Gulf of Oman, which took place late last week, sources told Fastmarkets.
Usiminas targets domestic slab supplies after resorting to imports at start of year
Wed, 19 Jun 2019 16:52:00 GMT
Brazilian steelmaker Usiminas is currently negotiating with local slab producers to feed its Cubatão unit in the southeastern state of São Paulo, after having had to import the raw material from abroad so far in 2019, sources told Fastmarkets this week.
U.S. Steel idling two blast furnaces in the US, one in Europe
Wed, 19 Jun 2019 15:41:00 GMT
U.S. Steel plans to idle two blast furnaces in the United States and one in Europe as a result of “current market conditions,” the company announced in earnings guidance released after the close of markets on Tuesday June 18.
Vale expects to fully resume Brucutu ops in 72 hours following judicial ruling
Wed, 19 Jun 2019 14:54:00 GMT
Vale expects to resume production through wet processing at its Brucutu mine in 72 hours, following a decision from the country’s Superior Court of Justice that nullified a previous ruling impeding the use of a tailings dam, it said on Wednesday June 19.
PEOPLE MOVES: Paul Vollant appointed as Largo Resources' director of sales, trading
Wed, 19 Jun 2019 14:24:00 GMT
Largo Resources has appointed Paul Vollant as its director of sales and trading, the vanadium producer said on Wednesday June 19.
Codelco presents new labor offer to unions; voting to take place on Wednesday
Wed, 19 Jun 2019 12:45:00 GMT
Codelco has presented a new labor offer to the three trade unions on strike at its Chuquicamata operation and workers will deliberate on the matter on Wednesday June 19.
PRICING NOTICE: Proposal to reduce publication frequency of Japan, South Korea high-carbon ferro-chrome price assessments
Wed, 19 Jun 2019 12:30:00 GMT
Fastmarkets proposes to reduce the frequency of publication of its Japan and South Korea high-carbon ferro-chrome price assessments due to low spot liquidity over the past year.
DRI & PELLET 2019: Samarco ‘likely to resume’ pellet production in H2 2020
Wed, 19 Jun 2019 11:50:00 GMT
Samarco - Vale and BHP’s iron ore pellet joint venture - is likely to restart its operations in Brazil’s southeastern Minas Gerais state in the second half of 2020.
MORNING VIEW: Metals consolidate recent gains after risk-on returns amid growing trade optimism
Wed, 19 Jun 2019 10:55:00 GMT
Dovish comments from European Central Bank (ECB) president Mario Draghi combined with some positive US-China trade developments, in that US president Donald Trump said he will meet Chinese president Xi Jinping in late June, to prompt a recovery in equities and industrial metals prices on Tuesday June 18.
LIVE FUTURES REPORT 19/06: LME base metals prices fall as macro optimism fades
Wed, 19 Jun 2019 10:34:00 GMT
Base metals prices were broadly steady to lower in morning trading on the London Metal Exchange on Wednesday June 19, with waning macroeconomic optimism weighing on commodities.
EU new car sales rise for first time in more than eight months
Wed, 19 Jun 2019 09:59:00 GMT
EU demand for passenger cars increased by 0.1% year on year in May, following eight consecutive month of decline, the European Automotive Manufacturers Association (ACEA) said this week.
Major Japanese mill agrees $141 per tonne fob Australia for Q2 PCI shipments
Wed, 19 Jun 2019 09:20:00 GMT
A major Japanese steelmaker has settled its pulverized coal injection (PCI) price for April-June at $141 per tonne fob Australia with Australian producer Realm Resources for the low-vol PCI Foxleigh.
FREE WEB SEMINAR: Fastmarkets' copper concentrates index - benchmarking the spot market
Wed, 19 Jun 2019 09:15:00 GMT
The Fastmarkets copper concentrates TC/RC (treatment/refining charge) index tracks the market’s central point, providing miners, traders and smelters with a tool to benchmark long-term contracts against spot deals.
LIVE FUTURES REPORT 19/06: SHFE base metals prices all up amid easing trade tensions, policymakers’ dovishness
Wed, 19 Jun 2019 06:25:00 GMT
Base metals prices on the Shanghai Futures Exchange were up across the board during morning trading on Wednesday June 19 amid renewed trade optimism and a more dovish tone from policymakers.
HOTTER ON METALS: Steel futures follow the rebar holy grail
Wed, 19 Jun 2019 03:40:00 GMT
A decade ago, the Shanghai Futures Exchange launched its steel rebar futures contract. In the years that followed it has become the gold standard for steel derivatives, achieving a success that other exchanges aspire to emulate.
IN CASE YOU MISSED IT: 5 key stories from June 18
Wed, 19 Jun 2019 00:05:00 GMT
Here are five Fastmarkets MB stories you might have missed on Tuesday June 18 that are worth another look.
STEEL SUCCESS STRATEGIES: US hot-rolled coil expected to rebound after hitting $500/t floor - WSD execs say
Tue, 18 Jun 2019 23:15:00 GMT
Prices for hot-rolled coil in the United States will drop as low as $500 per short ton ($25 per hundredweight) in the coming months before climbing to $720 per ton ($36 per cwt) in early 2020, according to top executives from World Steel Dynamics (WSD).
STEEL SUCCESS STRATEGIES: China said unlikely ferrous scrap exporter
Tue, 18 Jun 2019 23:10:00 GMT
China is unlikely to become a major supplier in the ferrous scrap export market over the short to mid-term, due largely to robust demand in that country’s domestic market, according to a top executive at Turkey-based Çolakoglu Metalurji.
LIVE FUTURES REPORT 18/06: LME base metals up on rate-cut anticipation; Sn up 1% despite inflows
Tue, 18 Jun 2019 18:00:00 GMT
Base metals traded on the London Metal Exchange had all closed up by the afternoon kerb on June 18 after the potential US Federal Reserve interest rate cuts inspired a bullish sentiment.
Outokumpu Tornio to gain 100,000 tpy and reduce lead times through digitalized stainless steel production
Tue, 18 Jun 2019 17:22:00 GMT
Outokumpu hopes to increase capacity by 100,000 tonnes per year and significantly improve lead times by fully digitalizing production at its site in Tornio, Finland, by 2020, it said on June 17.
Pala to buy 100% of Cobalt 27 shares; newly listed Nickel 28 to hold JV, royalty portfolio
Tue, 18 Jun 2019 15:08:00 GMT
Pala Investments will buy 100% of the remaining shares in Cobalt 27 for C$501 million ($374 million), the companies said on Tuesday June 18.
Codelco's Chuquicamata copper unit at 50% capacity after workers take strike action
Tue, 18 Jun 2019 14:42:00 GMT
Chilean state-owned copper producer Codelco is running its Chuquicamata division at half capacity, due to strike action by three unions at the site in northern Chile.
Vale suspends nickel processing at Onça Puma plant [UPDATED]
Tue, 18 Jun 2019 14:03:00 GMT
Vale has suspended all nickel-processing activities at its Onça Puma plant in the Brazilian state of Para on judicial orders, it said on June 17.
‘Green’ Terrafame will be main European EV nickel supplier – CEO
Tue, 18 Jun 2019 12:50:00 GMT
Terrafame will be the main supplier of battery-grade refined nickel products to the European electric vehicle (EV) market when demand penetrates the continent, company CEO Joni Lukkaroinen told Fastmarkets in an interview on June 5.
FREE WEB SEMINAR: Cobalt: contending with volatility in 2019 and beyond – catch-up
Tue, 18 Jun 2019 12:25:00 GMT
Fastmarkets hosted a free web seminar on Tuesday June 18 discussing recent price moves in the cobalt market and how industry developments might affect the market - and prices - going forward.
Chinese alumina import interest weak as domestic prices slide
Tue, 18 Jun 2019 11:17:00 GMT
An open arbitrage window for importing alumina into China failed to attract a flurry of inquiries last week as domestic prices continued to slide, sources told Fastmarkets on Tuesday June 18.
LIVE FUTURES REPORT 18/06: LME base metals prices buoyed ahead of FOMC meeting; Cu up 0.7%
Tue, 18 Jun 2019 11:07:00 GMT
Base metals traded on the London Metal Exchange were broadly up during morning trading on Tuesday June 18, taking their cue from the Dow Jones Index which edged higher overnight in anticipation of the US Federal Open Market Committee (FOMC) meeting which gets underway today.
Guangxi Yinyi’s battery materials production not affected by parent company’s bankruptcy
Tue, 18 Jun 2019 10:03:00 GMT
Production of battery materials, including cobalt sulfate and nickel sulfate, at Guangxi Yinyi Advanced Material will not be affected by the bankruptcy of its parent company, Yinyi Group, Fastmarkets understands.