Latest Steel news
Rusal calls for new Nornickel management
Wed, 15 Jul 2020 06:00:00 GMT
UC Rusal, Nornickel’s second-largest shareholder, has called for a change in the latter’s management, following three polluting events in six weeks within Nornickel.
Chinese aluminium exports plunge 30% y-o-y in June; copper imports double
Wed, 15 Jul 2020 03:57:00 GMT
China’s exports of unwrought aluminium and aluminium products declined by 30% year on year in June, while total exports for the first six months of 2020 fell by 20.6%, according to preliminary Chinese customs data released on Tuesday July 14.
IN CASE YOU MISSED IT: 5 key stories from July 14
Wed, 15 Jul 2020 00:05:00 GMT
Here are five Fastmarkets stories you might have missed on Tuesday July 14 that are worth another look.
Trump cannot double Section 232 duty vs Turkey, US CIT finds
Tue, 14 Jul 2020 22:29:00 GMT
The United States Court of International Trade (CIT) has ruled that President Donald Trump did not have the power to double the Section 232 tariff on steel imports from Turkey.
LIVE FUTURES REPORT 14/07: Lackluster China data, US equities sell-off halts upward momentum in LME base metals
Tue, 14 Jul 2020 19:02:00 GMT
London Metal Exchange three-month base metals prices all closed down on Tuesday July 14 after a sell-off across US equities and weaker than expected Chinese data put a block on any upward price momentum.
EU STEELMAKER CLOSURES 14/07: ArcelorMittal to restart BF at Dunkirk plant
Tue, 14 Jul 2020 18:23:00 GMT
ArcelorMittal Dunkirk plans to restart production from a blast furnace (BF) that was idled in late March, when steel demand dropped due to the economic effects of the lockdown measures intended to control the spread of Covid-19.
FOCUS: Bulk alloys under persistent pressure in Europe, India
Tue, 14 Jul 2020 18:22:00 GMT
Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.
Vedanta seeks 2021 marketing partner for European aluminium market - sources
Tue, 14 Jul 2020 17:45:00 GMT
Aluminium producer Vedanta is seeking an agent to market the company’s aluminium products in Europe for 2021, sources close to the matter told Fastmarkets.
Appian Capital's Serrote copper-gold project in Brazil to start output in H2 2021
Tue, 14 Jul 2020 17:32:00 GMT
Execution works at the copper-gold Serrote project, operated by Mineração Vale Verde (MVV), have reached 60% completion and is planned to start production in the second half of 2021, MVV’s parent company Appian Capital Advisory said on Tuesday July 14.
New duties to affect UAE flat steel imports
Tue, 14 Jul 2020 16:08:00 GMT
New flat steel import duties are expected to affect flat steel imports into the United Arab Emirates (UAE), market sources told Fastmarkets on Tuesday July 14.
PRICING NOTICE: Proposal to discontinue Argentina steel assessments
Tue, 14 Jul 2020 14:30:00 GMT
Fastmarkets proposes to discontinue four price assessments of steel in Argentina following a long period of low liquidity and an inactive spot market.
Poland's JSW sees coking coal output, sales slump due to Covid-19 impact on steel industry
Tue, 14 Jul 2020 13:51:00 GMT
Polish coking coal miner Jastrzebska Spólka Weglowa (JSW), has reported a decline in second-quarter output and sales due to weakness in the steel industry caused by measures put in place to combat the Covid-19 pandemic.
Workers at two Antofagasta copper mines vote to strike after rejecting pay offer
Tue, 14 Jul 2020 12:36:00 GMT
Workers at Antofagasta’s Zaldivar and Centinela copper mines in Chile have successively voted to take industrial action after the negotiations for labor contract renewals failed, Fastmarkets understands.
LIVE FUTURES REPORT 14/07: LME zinc price wipes out Monday’s gains in 2% decline; China imports climb
Tue, 14 Jul 2020 10:53:00 GMT
The three-month zinc price on the London Metal Exchange was the standout underperformer during morning trading on Tuesday July 14, wiping out gains made on Monday amid continued market volatility.
MORNING VIEW: Markets weaker, nervous in case US corporate earnings trigger a reality check
Tue, 14 Jul 2020 08:43:00 GMT
Asian-Pacific equities and the base metals trading on the London Metal Exchange were weaker this morning, Tuesday July 14, with profit-taking emerging in the face of increased Covid-19 cases and earnings uncertainty.
OM Holdings cuts further ferro-silicon production due to limited manpower
Tue, 14 Jul 2020 06:26:00 GMT
OM Holdings Ltd is idling an additional ferro-silicon furnace at its smelter complex in Sarawak, Malaysia, due to limited manpower amid strict travel restrictions imposed by the Malaysian government and other local authorities as a result of the Covid-19 pandemic, the company said on Tuesday July 14.
China’s finished steel exports drop in June, but imports double
Tue, 14 Jul 2020 06:18:00 GMT
China's finished steel exports continued to fall in June, but imports doubled year on year, according to customs data released on Tuesday July 14.
IN CASE YOU MISSED IT: 5 key stories from July 13
Tue, 14 Jul 2020 00:05:00 GMT
Here are five Fastmarkets stories you might have missed on Monday July 13 that are worth another look.
LIVE FUTURES REPORT 13/07: Breakout close leads LME zinc up 3% amid Fed stimulus; copper follows
Mon, 13 Jul 2020 17:55:00 GMT
The London Metal Exchange three-month zinc price recorded its highest settlement price since January at the close on Monday July 13, rallying above nearby resistance despite well-supplied exchange stocks, while copper futures registered a standout turnover against the metal’s continued price incline.
PEOPLE MOVES: Aurubis appoints Michael Hellemann to commercial SVP
Mon, 13 Jul 2020 17:42:00 GMT
Europe’s largest copper producer Aurubis has appointed Michael Hellemann to the senior vice president of commercial, the company said on Monday July 13.
Nornickel reports second Arctic oil spill [UPDATED]
Mon, 13 Jul 2020 15:42:00 GMT
Russian multi-metal miner Nornickel reported a second Arctic fuel spill during an aviation refueling exercise, the company said on Sunday July 12.
Galaxy extends spodumene offtake agreement with Sichuan Yahua
Mon, 13 Jul 2020 13:18:00 GMT
Australian lithium spodumene producer Galaxy Resources has extended its offtake agreement with Chinese lithium producer Sichuan Yahua by a further three years to December 31, 2025, it said on Monday July 13.
Honda invests in CATL to form strategic alliance for battery supply
Mon, 13 Jul 2020 13:18:00 GMT
Japanese carmaker Honda has acquired about 1% of the shares in Chinese battery maker Contemporary Amperex Technology (CATL) through a non-public issuance of stocks, with the intention of securing a stable supply of batteries from the Chinese firm, the two companies said in a joint statement on Friday July 10.
Fire forces Vietnam’s Hoa Phat to stop steel output at blast furnace
Mon, 13 Jul 2020 11:18:00 GMT
Vietnamese integrated steel producer Hoa Phat was forced to halt steel output at its blast furnace (BF) No1 in Dung Quat over the weekend after a fire started at the mill, Fastmarkets understands.
Aleris Aluminum Duffel receives ASI chain of custody
Mon, 13 Jul 2020 10:48:00 GMT
The Aluminum Stewardship Initiative (ASI) announced Aleris Aluminum Duffel, one of the largest rolling mills in Europe, has been awarded the ASI Chain of Custody certification as of July 13.
LIVE FUTURES REPORT 13/07: Production woes put LME copper above $6,500/t on high vol; C/3M holds backwardation
Mon, 13 Jul 2020 10:38:00 GMT
The London Metal Exchange three-month copper price increased during morning trading on Monday July 13, up against further supply-related concerns from Chile, while the metal’s forward curve held in backwardation amid strong buying momentum.
Copper price hits 2-yr peak on Chile strike fears [UPDATED]
Mon, 13 Jul 2020 09:24:00 GMT
Copper futures in London and Shanghai soared in early morning trading on Monday July 13 after miners in Chile declared they would strike over wages, Fastmarkets understands.
MORNING VIEW: Broader markets start week on front foot; fresh supply disruption concerns underpinning the metals
Mon, 13 Jul 2020 08:22:00 GMT
Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.
Nornickel fine may hit Rusal's credit: Fitch
Mon, 13 Jul 2020 07:05:00 GMT
UC Rusal’s credit may suffer from a $2.1 billion fine imposed on Nornickel, almost 28% of which is owned by Rusal, Fitch Ratings said.
IN CASE YOU MISSED IT: 5 key stories from July 10
Mon, 13 Jul 2020 00:05:00 GMT
Here are five Fastmarkets stories you might have missed on Friday July 10 that are worth another look.