Latest Steel news
IN CASE YOU MISSED IT: 5 key stories from December 13
Mon, 16 Dec 2019 00:05:00 GMT
Here are five Fastmarkets MB stories you might have missed on Friday December 13 that are worth another look.
AT A GLANCE: Aurubis records 71% operating earnings loss but says multi-metal strategy intact
Fri, 13 Dec 2019 17:49:00 GMT
Europe’s largest copper producer, Aurubis, reported a €137 million ($152.5 million) operating earnings loss in the fiscal year of 2018-19 ended September 30, but pledged to maintain plans to become a multi-metal provider, in a company statement on Wednesday December 11.
LIVE FUTURES REPORT 13/12: LME nickel price leads gains; copper softens after setting multi-month high
Fri, 13 Dec 2019 17:46:00 GMT
Nickel ended firmly above $14,000 per tonne in London Metal Exchange trading on Friday December 13 while copper stepped back after peaking earlier at its highest since May.
Jiangxi Copper, Chambishi agree 2020 blister copper RC benchmark at $128/t; lowest since 2015
Fri, 13 Dec 2019 16:09:00 GMT
Chinese copper smelter Jiangxi Copper and Zambian blister copper producer Chambishi (CCS) have signed a 2020 supply contract at a refining charge (RC) of $128 per tonne cif China, Fastmarkets learned.
SHFE STOCKS REPORT 13/12: Lead inventories surge by 24.2% vs last week
Fri, 13 Dec 2019 12:03:00 GMT
Stocks of base metals stored at Shanghai Futures Exchange-approved warehouses increase in the week to Friday December 13 bar those of aluminium and zinc.
LIVE FUTURES REPORT 13/12: LME aluminium price shrugs off fresh 33kt inflow; nickel holds above $14,100/t
Fri, 13 Dec 2019 10:37:00 GMT
The three-month aluminium price on the London Metal Exchange was higher across morning trading on Friday December 13, with price action unaffected by a fresh inflow of some 32,975 tonnes, while nickel futures maintained gains made over the week.
NEWSBREAK: Fanya indium stock auction set for Dec 29
Fri, 13 Dec 2019 10:33:00 GMT
Southwestern China’s Kunming Intermediate People’s Court is auctioning all of the indium stocks once held by the defunct Fanya Metal Exchange, according to an official notice published via the Alibaba judicial online platform on Friday December 13.
MORNING VIEW: Markets firmer on Trump’s ‘Big Deal’ tweet
Fri, 13 Dec 2019 09:00:00 GMT
Broader markets are upbeat this morning, Friday December 13, because hopes are running high that a preliminary United States-China trade will be signed before new tariffs come into force on Sunday as well as following the United Kingdom’s general election result that means a Brexit deal moves forward.
Vietnam's Formosa Ha Tinh raises HRC, wire rod offers for February
Fri, 13 Dec 2019 07:41:00 GMT
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel has raised the offer prices for its hot-rolled coil products for February shipment and delivery by $15 per tonne, tracking the recent bullish price trend in Asia.
LIVE FUTURES REPORT 13/12: SHFE base metals prices rangebound while investors await direction
Fri, 13 Dec 2019 06:00:00 GMT
Base metals prices on the Shanghai Futures Exchange were on divergent paths but largely little changed at the close of the morning trading session on Friday December 13.
CAPACITY WATCH: Rizhao Steel to add 2.7 mln tpy of crude steel capacity
Fri, 13 Dec 2019 05:44:00 GMT
Eastern China’s Rizhao Iron & Steel plans to install new iron and steelmaking equipment in 2022, having bought over capacity from other producers, according to a notice released on Thursday December 12 by Shandong province’s Industry & Information Technology Department.
CAPACITY WATCH: Shagang installing new EAF at Jinfeng operations
Fri, 13 Dec 2019 05:26:00 GMT
Major eastern Chinese steel producer Shagang plans to install a new electrical-arc furnace (EAF) in 2022 to replace an older one, according to a notice released on Thursday December 12 by Jiangsu province’s Industry & Information Technology Department.
Copper smelter Dongying Fangyuan experiencing ‘tight liquidity’, denies bankruptcy filing
Fri, 13 Dec 2019 03:31:00 GMT
Chinese copper smelter Dongying Fangyuan has acknowledged that it is “experiencing a tight liquidity situation”, according to statement made by the company on Thursday December 12.
IN CASE YOU MISSED IT: 5 key stories from December 12
Fri, 13 Dec 2019 00:05:00 GMT
Here are five Fastmarkets MB stories you might have missed on Thursday December 12 that are worth another look.
China’s NEV output, sales in fifth consecutive annual decline in November
Thu, 12 Dec 2019 12:49:00 GMT
China’s output and sales of new energy vehicles (NEVs) fell again on an annual comparison in November 2019 following its first negative growth in July.
Ganfeng Lithium signs supply agreement with BMW
Thu, 12 Dec 2019 11:41:00 GMT
Chinese lithium producer Ganfeng Lithium has signed a long-term supply agreement for lithium compounds with BMW to supply their designated battery or cathode makers, it said on Thursday December 12.
LIVE FUTURES REPORT 12/12: LME nickel price absorbs further inflows
Thu, 12 Dec 2019 11:03:00 GMT
The three-month nickel price on the London Metal Exchange consolidated during morning trading on Wednesday December 12, with another fresh inflow of 25,518 tonnes into several locations elevating a weak LME nickel stock count.
MEIS 2019: Emirates Steel CEO urges Middle Eastern steelmakers to diversify
Thu, 12 Dec 2019 07:26:00 GMT
Middle Eastern steel producers need to diversify their product lines to survive weakening demand in the region, according to Saeed Ghumran Al-Remeithi, the chief executive officer of the United Arab Emirates’ biggest steelmaker, Emirates Steel.
LIVE FUTURES REPORT 12/12: Most SHFE base metals prices up on rising optimism, dollar weakness; Sn, Al drop
Thu, 12 Dec 2019 06:38:00 GMT
Base metals on the Shanghai Futures Exchange were broadly higher at the close of the morning session on Thursday December 12, with optimism over a recovery in Chinese demand and a weak US currency providing support to the complex.
IN CASE YOU MISSED IT: 5 key stories from December 11
Thu, 12 Dec 2019 00:05:00 GMT
Here are five Fastmarkets MB stories you might have missed on Wednesday December 11 that are worth another look.
MEIS 2019: Be fair to us, Turkish steelmakers plead [AMENDED]
Wed, 11 Dec 2019 19:53:00 GMT
Turkey is calling for a level playing field when it comes to trading with the European Union and the United States, Turkish steelmakers said during a panel discussion at Fastmarkets' Middle East Iron and Steel conference in Dubai.
LIVE FUTURES REPORT 11/12: LME nickel price climbs by 3% despite fresh inflows; copper breaches $6,150/t
Wed, 11 Dec 2019 17:46:00 GMT
Nickel gained more than 3% on the London Metal Exchange on Wednesday December 11, closing at a two-week high.
Jiangxi Copper to become First Quantum’s largest shareholder with $1-bln Cupric acquisition
Wed, 11 Dec 2019 14:37:00 GMT
Chinese copper producer Jiangxi Copper will become the largest shareholder of Canada-listed First Quantum Minerals (FQM) after its $1.12-billion purchase of PIM Cupric Holdings (PCH), which holds around 18.015% of FQM’s issued shares.
GLOBAL ZINC & LEAD WRAP: US lead premium rises on LME price fall; Italy delivered premium dips, Shanghai stable
Wed, 11 Dec 2019 13:00:00 GMT
The sharp fall in London Metal Exchange three-month lead price has put upward pressure on the US lead premium. Stock liquidation and weak buying saw the Italian delivered zinc premium decline, while the Shanghai zinc market held firm.
AT A GLANCE: Trafigura FY gross profit rises 25%; 15% growth in refined metal trading volume
Wed, 11 Dec 2019 11:21:00 GMT
A summary of Trafigura Group’s financial results for the 2019 financial year ended September 30, 2019.
Eskom implements first ever round of stage 6 load shedding amid severe power squeeze [UPDATED]
Wed, 11 Dec 2019 11:02:00 GMT
South African state power utility Eskom was forced to implement stage 6 load shedding for the first time ever on Monday December 9 amid a severe lack of generating capacity.
LIVE FUTURES REPORT 11/12: Fresh 13.5kt inflow fails to stifle LME nickel price; copper holds ground
Wed, 11 Dec 2019 09:58:00 GMT
The three-month nickel price on the London Metal Exchange was little changed during morning trading on Wednesday December 11 despite another sizeable inflow of material into LME-registered warehouses, keeping forward spreads wide.
CAPACITY WATCH: HBIS plans 20-million-tpy Laoting Iron & Steel project
Wed, 11 Dec 2019 08:35:00 GMT
Major Chinese steelmaker Hebei Iron & Steel (HBIS) is planning a capacity replacement project called Laoting Iron & Steel to replace Xuanhua Iron & Steel.
INTERVIEW: Technology refresh a focus for LME, its new chair says
Wed, 11 Dec 2019 08:05:00 GMT
When Gay Huey Evans attended her first London Metal Exchange dinner in 1999, she was head of markets at former UK regulator the Financial Services Authority (FSA) - some 20 years later she was there as LME chair elect, the first woman appointed to the role.
China's Shagang cuts long steel prices for mid-December
Wed, 11 Dec 2019 05:55:00 GMT
Eastern China’s Shagang has dropped the price for its wire rod booked over the December 11-20 period and rolled over that for its rebar, according to its announcement on Wednesday December 11.