Latest Steel news
Vale halts operations at one Ferrous Resources mine; output cut by 4mln tpy
Fri, 16 Aug 2019 19:48:00 GMT
Brazilian miner Vale has decided to temporarily halt part of the operations of subsidiary Ferrous Resources due to the absence of licensing documents.
LIVE FUTURES REPORT 16/08: LME nickel price holds gains; tin dips below $17,000 per tonne
Fri, 16 Aug 2019 18:45:00 GMT
The three-month price of nickel on the London Metal Exchange remained elevated at the close of trading on Friday August 16, retaining gains made at Thursday’s close above the $16,000 per tonne support level, while a weak LME tin price could see the two prices converge.
CTT cuts cobalt production in August, September on low prices
Fri, 16 Aug 2019 17:19:00 GMT
Compagnie de Tifnout Tiranimine (CTT) cut cobalt production at its operations in Morocco at the beginning of the August and will continue to operate at a lower rate in September as a result of low cobalt prices.
Bisie tin project prompts Alphamin Resources leadership restructuring
Fri, 16 Aug 2019 15:55:00 GMT
Progress at Mauritius-based Alphamin Resources’ Bisie tin mine in the Democratic Republic of Congo has led the company to alter its leadership structure, with the project now a step closer to full production after the conclusion of its commissioning phase.
MJP aluminium stocks rise for second straight month
Fri, 16 Aug 2019 15:39:00 GMT
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 2.9% month on month in July, according to data released by major Japanese trading house Marubeni Corp on Friday August 16.
Rising HRC exports make Turkey a new backyard for EU steelmakers, local producers say
Fri, 16 Aug 2019 14:42:00 GMT
Turkish steel producers believe that their market has become a ‘backyard’ for European steel firms, they told Fastmarkets on Thursday August 15.
Turkey’s OYAK reaches provisional agreement to buy British Steel
Fri, 16 Aug 2019 12:20:00 GMT
Turkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16.
SHFE STOCKS REPORT 16/08: Zinc stocks drop 7%; copper inventories up 4%
Fri, 16 Aug 2019 11:18:00 GMT
Deliverable zinc stocks at Shanghai Futures Exchange-approved warehouses fell to 73,857 tonnes on Friday August 16, a drop of 5,585 tonnes or 7% from a week earlier, according to the SHFE’s latest inventory report.
LIVE FUTURES REPORT 16/08: Fresh 31kt inflow fails to rattle LME copper; tin below $17,000/t amid largest delivery in 10 yrs
Fri, 16 Aug 2019 10:25:00 GMT
The three-month copper price on the London Metal Exchange was little moved during morning trading on Friday August 16, with its price action largely unfazed by another fresh inflow of some 31,000 tonnes, while nickel futures held gains above $16,100 per tonne.
MORNING VIEW: Nickel price remains in the spotlight while other base metals consolidate
Fri, 16 Aug 2019 09:58:00 GMT
Against the background of heavy economic and geopolitical clouds, markets are getting some lift on Friday August 16, presumably since they have absorbed all the latest gloomy news on global economy, trade, the unrest in Hong Kong and debt default concerns in Argentina.
Weak Chinese fundamentals will cap alumina price uptrend - Huatai Futures
Fri, 16 Aug 2019 09:50:00 GMT
China’s domestic alumina market recovered slightly this week after producers raised their offer prices amid production cuts across the country, but the upward momentum will be difficult to sustain over the long term, Huatai Futures aluminium analyst Li Shuheng told Fastmarkets on Thursday August 15.
LIVE FUTURES REPORT 16/08: SHFE base metals prices mostly little changed to up; Ni climbs 2.4%
Fri, 16 Aug 2019 07:10:00 GMT
Base metals prices on the Shanghai Futures Exchange were broadly little changed to up during morning trading on Friday August 16, with nickel giving the best performance of its peers with a gain of 2.4%.
IN CASE YOU MISSED IT: 5 key stories from August 15
Fri, 16 Aug 2019 00:05:00 GMT
Here are five Fastmarkets MB stories you might have missed on Thursday August 15 that are worth another look.
LIVE FUTURES REPORT 15/08: LME nickel price clocks 5-year high; tin recovers losses
Thu, 15 Aug 2019 17:59:00 GMT
The three-month nickel price on the London Metal Exchange closed at its highest since December 2014 on Thursday August 15, climbing to $16,250 per tonne amid renewed buying momentum, while a steady incline in tin futures led to its highest close since August 1.
Codelco starts underground phase at Chuquicamata copper mine
Thu, 15 Aug 2019 17:10:00 GMT
Chilean state-owned copper producer Codelco began operations at Chuquicamata’s subterranean phase on Wednesday August 14, with an aim to increase mine life by 40 years and to improve the division’s productivity, the company said.
Analysts think China's State Grid could release a major boost for copper in H2
Thu, 15 Aug 2019 16:32:00 GMT
The world's biggest copper consumer could be getting ready to start spending, analysts told Fastmarkets.
AT A GLANCE: Erdemir Group H1 earnings down on weak demand
Thu, 15 Aug 2019 12:45:00 GMT
A summary of the financial results for Turkey’s biggest steelmaking group Erdemir for the first half of 2019, between January 1 and June 30.
Chinese alumina market shows signs of recovery amid supply disruptions, sources say
Thu, 15 Aug 2019 12:00:00 GMT
China’s alumina market is showing signs of a recovery following the emergence of higher offer prices by domestic producers this week due to a number of production cuts in the country, market sources told Fastmarkets on Wednesday August 14.
LIVE FUTURES REPORT 15/08: LME copper price shrugs off 32,000t inflow; zinc climbs above $2,300/t
Thu, 15 Aug 2019 10:33:00 GMT
Copper held steady on the London Metal Exchange during morning trading on Thursday August 15 despite stocks rising by 32,000 tonnes taking to above 300,000 tonnes for the first time since July 5.
Quota to be imposed on HR flat steel imports to Eurasian Economic Union countries from December
Thu, 15 Aug 2019 10:33:00 GMT
The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.
NEWSBREAK: Court orders auction of Fanya's entire antimony stock on August 31
Thu, 15 Aug 2019 07:03:00 GMT
Southwestern China’s Kunming Intermediate People’s Court will auction for all of the 18,661 tonnes of antimony ingots held by the collapsed Fanya Metal Exchange in late August, according to an official notice seen by Fastmarkets on Thursday August 15.
LIVE FUTURES REPORT 15/08: SHFE base metal prices broadly down amid global recession concerns, weak risk appetite; lead down nearly 1%
Thu, 15 Aug 2019 05:51:00 GMT
Base metals prices on the Shanghai Futures Exchange were broadly down during morning trading on Thursday August 15, with weak economic data releases on Wednesday fueling anxiety among investors and dampening risk-on sentiment.
IN CASE YOU MISSED IT: 5 key stories from August 14
Thu, 15 Aug 2019 00:05:00 GMT
Here are five Fastmarkets MB stories you might have missed on Wednesday August 14 that are worth another look.
Iron ore stockpile builds at SL’s Marampa mine on exports bar
Wed, 14 Aug 2019 18:27:00 GMT
The suspension of iron ore exports from SL Mining’s operations at Marampa in Sierra Leone have left stockpiles of more than 500,000 tonnes of concentrates at the mine in the Port Loko district, according to the company.
LIVE FUTURES REPORT 14/08: LME zinc price weakness continues; tin holds above $17,000 per tonne
Wed, 14 Aug 2019 18:08:00 GMT
The three-month price of zinc on the London Metal Exchange continued to slide at the close of trading on Wednesday August 14, slipping below the support level at $2,300 per tonne amid a 2.8% selloff, while tin futures held on to gains above the $17,000 per tonne threshold.
TATA STEEL AT A GLANCE: April-June earnings down on weak EU results
Wed, 14 Aug 2019 14:18:00 GMT
A summary of Tata Steel’s financial results for the quarter ending in June 2019.
LME trading volumes down 6% in first half 2019, says HKEX
Wed, 14 Aug 2019 11:51:00 GMT
Trading volumes on the London Metal Exchange declined by 6% in the first half of 2019, parent company Hong Kong Exchanges & Clearing (HKEX) said in its own half-year results announcement.
LIVE FUTURES REPORT 14/08: LME zinc fails to hold on to gains; more Al cancellations at Port Klang
Wed, 14 Aug 2019 09:51:00 GMT
Three-month base metals prices on the London Metal Exchange were lower during morning trading on Wednesday August 14, with zinc undoing Tuesday’s gains.
China’s steel output shows signs of slowdown in July
Wed, 14 Aug 2019 09:24:00 GMT
Chinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China.
LIVE FUTURES REPORT 14/08: SHFE zinc price up 0.7% amid easing US-China trade tensions; Ni, Al weaken
Wed, 14 Aug 2019 04:51:00 GMT
Barring those for nickel and aluminium, base metals prices on the Shanghai Futures Exchange were up during morning trading on Wednesday on August 14, with signs of easing trade tensions between the United States and China buoying overall market sentiment.