Latest Steel news
Five key stories from May 13
Sun, 15 May 2022 23:05:00 GMT
Here are five Fastmarkets stories you might have missed on Friday May 13 that are worth another look.
Tosyali Holding orders second slab caster for Algerian HRC mill
Fri, 13 May 2022 18:12:00 GMT
Tosyali Holding ordered a second slab caster from Primetals Technologies for its hot-rolled coil mill in Bethioua, Algeria, Primetals said on Wednesday May 11.
LME copper price regains some ground; but tin down 15% this week
Fri, 13 May 2022 17:15:00 GMT
Base metals price movements on the London Metal Exchange were mixed at the close of trading at the end of the week on Friday May 13.
LME opens consultation on OTC position reporting, accountability levels
Fri, 13 May 2022 12:15:00 GMT
The London Metal Exchange has opened a consultation on proposals that it believes would further enhance its visibility in over-the-counter (OTC) markets, it announced on Friday May 13.
SHFE base metals stocks diverge; nickel down by 27.4%
Fri, 13 May 2022 11:55:00 GMT
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses diverged into two camps in the week ended Friday May 13, with nickel falling the most in percentage points, by 27.4%, and tin topping the increase at 44.1%.
Metinvest to take maintenance outage at Italian assets until June due to slab shortage
Fri, 13 May 2022 11:48:00 GMT
Ukrainian steelmaker Metinvest will bring forward the planned maintenance work at its Italian assets during the current steel slab shortage, the company said earlier this week.
LME tin continues to fall in morning trade; nickel drops 2%
Fri, 13 May 2022 09:22:00 GMT
The three-month tin price continued to fall during morning trading on the London Metal Exchange on Friday May 13, following a steep decline a day earlier.
China domestic demand for steel, aluminum to rise if US removes import duties on Chinese goods
Fri, 13 May 2022 08:01:00 GMT
Chinese market participants expect domestic demand for steel and aluminium to increase if the United States removes some or all of its punitive tariffs on imports from China.
Five key stories from May 12
Thu, 12 May 2022 23:05:00 GMT
Here are five Fastmarkets stories you might have missed on Thursday May 12 that are worth another look.
LME base metal futures sold off; tin falls 5.6%
Thu, 12 May 2022 17:01:00 GMT
Base metal futures on the London Metal Exchange mostly fell steeply at the 5pm close amid a broad base sell off across the complex, mirroring activity in equity markets due to persistent macro-economic headwinds.
Wire rod not included in cut in Brazil's rebar import duties, Aço Brasil says
Thu, 12 May 2022 15:55:00 GMT
A Brazilian government resolution to cut import duties on steel rebar until the end of 2022 will not be valid for wire rod, steelmakers’ association Instituto Aço Brasil told Fastmarkets on Thursday May 12.
China’s auto output, sales fall again on supply-chain disruptions
Thu, 12 May 2022 15:15:00 GMT
China’s automotive output and sales figures both fell year on year for a second consecutive month in April, after controls on new Covid-19 outbreaks choked the supply chain, the China Association of Automobile Manufacturers (CAAM) said in its latest monthly report.
Salzgitter reports record-high results for Q1 on high steel prices
Thu, 12 May 2022 13:53:00 GMT
A summary of German steelmaker Salzgitter’s financial results for the quarter from January 1 to March 30, 2022, as published by the company on Thursday May 12.
Argentina's Aluar up to 85% capacity in Jan-Mar; output, sales rise
Thu, 12 May 2022 13:09:00 GMT
A summary of operational figures and financial results from Argentinian aluminium producer Aluar for the third quarter of its fiscal year 2022 (January-March 2022), as stated in its earnings report published on Wednesday May 11.
Base metal warrants report for May 12
Thu, 12 May 2022 12:27:00 GMT
A summary of the London Metal Exchange warrant premiums across the globe for the week ended Wednesday May 11.
Copper dips below $9,000/t as LME base metals all open lower
Thu, 12 May 2022 09:45:00 GMT
All base metals contracts on the London Metal Exchange opened lower on Thursday May 12, with the copper price dipping below $9,000 per tonne.
ArcelorMittal awaits competition authority nod for acquisition of German scrap recyclers
Thu, 12 May 2022 07:56:00 GMT
ArcelorMittal is awaiting competition clearance before acquiring three German metals recycling companies from environmental services and recycling company Alba International Recycling, according to the German and Austrian competition regulators.
Brazil's steel rebar import duty cut 'unjustifiable, against the flow,' Aço Brasil says
Thu, 12 May 2022 05:30:00 GMT
Brazil’s national steelmaker association Instituto Aço Brasil has described a government decision to slash import duties for steel rebar as having no justification and going against the flow of higher protectionism in global steel markets.
Five key stories from May 11
Wed, 11 May 2022 23:05:00 GMT
Here are five Fastmarkets stories you might have missed on Wednesday May 11 that are worth another look.
Tin, zinc prices rebound on LME after sell-offs earlier this week
Wed, 11 May 2022 17:27:00 GMT
Tin and zinc prices rebounded by more than 2% in trading across the base-metals complex on the London Metal Exchange on Wednesday May 11, following sell-offs earlier in the week.
Rio Tinto starts tellurium production at Kennecott
Wed, 11 May 2022 15:45:00 GMT
Rio Tinto has started producing tellurium at its Kennecott copper operation in the US state of Utah, becoming one of only two producers in the United States of the critical mineral, used in advanced thin film photovoltaic solar panels.
Financial ‘taps not running’ for private metal companies in China
Wed, 11 May 2022 14:13:00 GMT
Private metal enterprises in China have become more vulnerable in 2022, with many finding themselves blocked from traditional routes to finance since commodities prices reached historic highs earlier this year.
Brazil's aluminium association raises 2022 demand forecast to 1.66mln tonnes
Wed, 11 May 2022 13:40:00 GMT
The Brazilian aluminium association, Abal, has increased its outlook for consumption of the metal in 2022 to 1.66 million tonnes, from 1.65 million tonnes previously, after hitting an all-time high last year, it said on Tuesday May 10.
Europe announces definitive anti-dumping duty rates on HDG from Russia, Turkey
Wed, 11 May 2022 13:18:00 GMT
The European Commission has announced its planned definitive anti-dumping duty rates for imports of hot-dipped galvanized coil from Russia and Turkey, according to a document seen by Fastmarkets and dated Tuesday May 10.
Idled Chinese copper smelter reheats furnace, resumes concs negotiations
Wed, 11 May 2022 12:52:00 GMT
A quicker-than-expected resumption of Xiangguang’s copper smelting operations was likely, with the state-owned asset preparing concentrates feed close to the site, Fastmarkets learnt on Wednesday May 11.
Fastmarkets creates separate weekly rebar price assessments for Italy, Spain
Wed, 11 May 2022 10:09:00 GMT
Fastmarkets today, Wednesday May 11, launches weekly price assessments for the Italian and Spanish domestic rebar markets, to replace its previous Southern European domestic rebar assessment.
3 reasons why demand for high-grade iron ore in China is likely to remain limited
Wed, 11 May 2022 09:50:00 GMT
At least three reasons have been identified by market participants as the key factors constraining demand for high-grade iron ore concentrate and pellet in China - in turn, prompting premium levels to narrow.
LME base metals prices broadly up at the open; nickel, lead buck trend
Wed, 11 May 2022 09:35:00 GMT
Base metals prices on the London Metal Exchange were largely up during morning trading on Wednesday May 11, recouping some of the losses made in recent days, but nickel and lead were down.
Iron ore shipments from Port Hedland up 1.5% year on year in April
Wed, 11 May 2022 07:47:00 GMT
Iron ore shipments from Port Hedland in Western Australia totaled 45.8 million tonnes in April 2022 - a 1.5% increase on the same month in 2021, according to the latest data from the Pilbara Ports Authority.
Baosteel cuts HRC price by $15/t for June bookings
Wed, 11 May 2022 03:58:00 GMT
China’s Baoshan Iron & Steel (Baosteel) is lowering the domestic base prices for some of its carbon flat steel products - including hot-rolled coil and sheet - by 100 yuan ($15) per tonne for June bookings.