Latest Steel news
PEOPLE MOVES: Lead producer Recylex promotes Gofflot to CEO as Rudow exits
Thu, 25 Feb 2021 18:18:00 GMT
Jacky Gofflot will become chief executive officer at French lead producer Recylex on Monday March 1 when Sebastian Rudow, who has recently resigned, leaves the company.
LIVE FUTURES REPORT 25/02: LME aluminium up 2%, copper at $9,400, nickel down to $19,200
Thu, 25 Feb 2021 18:03:00 GMT
The price of aluminium showed a 2.3% rise and held close to its new 2021 high of $2,243 per tonne during trading on the London Metal Exchange on Thursday February 25.
Copper spread tightness balloons, price continues to surge
Thu, 25 Feb 2021 17:40:00 GMT
The backwardation in copper’s benchmark cash-to-three-month spread reached a near two-year high of $51.50 per tonne, with the bullish rally on the red metal showing no signs of relenting.
Huge investment needed for new energy drive, BloombergNEF says
Thu, 25 Feb 2021 17:35:00 GMT
At least $14 trillion must be invested in the electricity grid worldwide by 2050 to support new energy usages, research consultancy BloombergNEF reported on Tuesday February 23.
Biden signs order to strengthen US supply chains, address chips shortage
Thu, 25 Feb 2021 17:25:00 GMT
United States President Joe Biden signed an executive order on Wednesday February 24 intended to secure his nation’s supply chains through a review of critical products, which will include computer chips and batteries.
UAE’s Conares Steel reduces rebar price
Thu, 25 Feb 2021 16:25:00 GMT
Dubai's Conares Steel has cut its rebar price to 2,530 dirhams ($689) per tonne ex-works, down from the previous 2,590 dirhams per tonne ex-works, chief executive Bharat Bhatia told Fastmarkets on Thursday, February 25.
AT A GLANCE: Finland's Terrafame posts 4.6% rise in nickel output, 9% uptick in overall sales for 2020
Thu, 25 Feb 2021 15:27:00 GMT
A summary of Finnish miner Terrafame's financial results for the fourth quarter and full year to December 31, 2020, published by the company on Thursday February 25.
LIVE FUTURES REPORT 25/02: Aluminium, copper rise 2% to new highs
Thu, 25 Feb 2021 10:33:00 GMT
Aluminium crossed the $2,200-per-tonne mark and copper continued to extend its bullish rally on the London Metal Exchange during morning trading on Thursday February 25, with a softer US Dollar Index supporting higher prices in the complex.
More Chinese copper scrap surfaces amid price rally, dampens import interest
Thu, 25 Feb 2021 08:45:00 GMT
Copper scrap yards across China are keen to offload their stock following a recent rally in the red metal price, dampening Chinese buyers’ interest in overseas materials.
MORNING VIEW: Cu, Al, Sn prices steam ahead, others consolidate
Thu, 25 Feb 2021 08:42:00 GMT
Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.
US raises duty to prohibitive 160% on Kazakh silicon imports
Thu, 25 Feb 2021 08:00:00 GMT
The United States Department of Commerce has proposed a severe 160% duty on silicon metal from Kazakhstan, up from 120% in the department’s preliminary duty proposal.
AT A GLANCE: Arconic’s 2020 sales down on Covid-19, Boeing 737-Max headwinds
Thu, 25 Feb 2021 02:26:00 GMT
A summary of Arconic Corp’s fourth-quarter and full-year 2020 earnings results.
IN CASE YOU MISSED IT: 5 key stories from February 24
Thu, 25 Feb 2021 00:05:00 GMT
Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.
LIVE FUTURES REPORT 24/02: Nickel up 1.8%, aluminium above $2,180, bulls still in charge
Wed, 24 Feb 2021 18:15:00 GMT
Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.
Nickel prices react to two partial shutdowns at Norilsk mines
Wed, 24 Feb 2021 16:09:00 GMT
Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky.
Emirates Steel surprises market with rebar price cut
Wed, 24 Feb 2021 13:33:00 GMT
The United Arab Emirates’ biggest producer Emirates Steel dropped its rebar price by 91 dirhams ($25) per tonne on Wednesday February 24, Fastmarkets understands.
AT A GLANCE: Gerdau Q4 earnings up on construction, automotive resilience
Wed, 24 Feb 2021 12:45:00 GMT
A summary of Brazilian steelmaker Gerdau’s financial results in the fourth quarter and full year of 2020, as stated in its earnings report published on Wednesday February 24.
Pangang halts some V2O5 output for maintenance – sources
Wed, 24 Feb 2021 12:37:00 GMT
China's Pangang Group has paused some vanadium pentoxide (V2O5) production at one of its three blast furnaces to conduct maintenance, a source at the company confirmed to Fastmarkets.
China's steel mills look elsewhere for contractual supplies after ‘unpredictable politics’ disrupts flow of Australian coking coal
Wed, 24 Feb 2021 11:22:00 GMT
China's “unpredictable political moves” in relation to coking coal from Australia has driven some Chinese steel mills to increase their contractual supplies of the steelmaking raw material from elsewhere, sources told Fastmarkets this week.
MORNING VIEW: Metals prices consolidate after recent strength, broader markets mixed
Wed, 24 Feb 2021 10:39:00 GMT
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.
LIVE FUTURES REPORT 24/02: Copper falls after new high of $9,342 per tonne; complex consolidating
Wed, 24 Feb 2021 10:20:00 GMT
The London Metal Exchange three-month copper price fell below $9,200 per tonne on Wednesday February 24, despite hitting a new annual high during earlier trading, with the rest of the base metals complex also trading lower following their recent bullish boost.
Cisa member mills’ finished steel inventories rise 21% in mid-February
Wed, 24 Feb 2021 09:58:00 GMT
Finished steel inventories at member mills of the China Iron & Steel Association (Cisa) and in the spot market increased sharply over February 11-20, compared with the preceding 10 days, according to data published by the association on Tuesday February 23.
Major Japanese steelmaker to increase offers for May-shipment steel plate
Wed, 24 Feb 2021 08:50:00 GMT
A major Japanese steel producer plans to increase its offer for May-shipment steel plate by $30 per tonne to $780 per tonne in Southeast Asia amid limited supplies, Fastmarkets understands.
IN CASE YOU MISSED IT: 5 key stories from February 23
Wed, 24 Feb 2021 00:05:00 GMT
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.
Brazil's CSN seeks further domestic price increase in March
Tue, 23 Feb 2021 21:37:00 GMT
Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.
LIVE FUTURES REPORT 23/02: Nickel down 3.8% from $20,110/t high; copper firm above $9,200/t at close
Tue, 23 Feb 2021 18:13:00 GMT
Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.
EU decides to skip preliminary anti-subsidy duties on Turkish HRC, investigation continues
Tue, 23 Feb 2021 17:59:00 GMT
The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.
Industry association VDM slams LME discussion paper proposals
Tue, 23 Feb 2021 17:58:00 GMT
Industry association Verband Deutscher Metallhändler (VDM) has slammed proposals by the London Metal Exchange to close its open-outcry trading floor, increases fees and change its margin methodology, saying that these moves would contradict the LME’s core mission to serve the physical metals markets and could lead to the elimination of the exchange’s dates structure.
AT A GLANCE: CSN posts record Q4 earnings on steel, iron ore performance
Tue, 23 Feb 2021 13:40:00 GMT
A summary of production figures and financial results from Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) for the fourth quarter and full-year 2020, as stated in its earnings report published on Monday February 22.
Strong oil prices, high vessel demand boost bulk freight rates
Tue, 23 Feb 2021 12:18:00 GMT
A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.