Latest Steel news
IN CASE YOU MISSED IT: 5 key stories from May 17
Mon, 17 May 2021 23:05:00 GMT
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.
China’s Ganfeng signs deal with Argentina’s government to develop lithium-ion battery factory
Mon, 17 May 2021 18:59:00 GMT
Major Chinese lithium producer Ganfeng Lithium has signed a memorandum of understanding with Argentina’s Mining Ministry and Jujuy provincial state for the development of a lithium-ion battery factory in the north of the country, Argentina’s government announced on Friday May 14.
LIVE FUTURES REPORT 17/05: Zinc above $3,000/t again; LME prices gain over 1% after Friday dip
Mon, 17 May 2021 16:52:00 GMT
The bullish momentum on the London Metal Exchange resumed on Monday May 17, following a pullback at the end of last week, with lead and zinc leading and returning to prices they had hit one week earlier when most metals set new LME year-to-date peaks.
Egyptian rebar producers add another $25/t to sales prices
Mon, 17 May 2021 16:20:00 GMT
Rebar producers in Egypt have increased their prices by another E£400 ($25.50) per tonne with effect from Monday May 17, sources told Fastmarkets.
Chinese businesses should use futures to hedge against commodity price hikes, China Futures Association says
Mon, 17 May 2021 15:47:00 GMT
Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said.
NEWSBREAK: Early MJP aluminium Q3 premiums at $180-190/t - sources
Mon, 17 May 2021 13:01:00 GMT
Third-quarter 2021 supplies of aluminium to main Japanese ports (MJPs) are on offer at a premium of $180-190 per tonne over the London Metal Exchange cash price, market participants told Fastmarkets on Monday May 17.
Nanshan’s Indonesian alumina project starts production trial
Mon, 17 May 2021 12:12:00 GMT
The first phase of Shandong Nanshan Aluminium’s alumina project in Indonesia recently started trial production, sources told Fastmarkets on Monday May 17.
Glencore has key recycling role in circular economy, Sinha says
Mon, 17 May 2021 11:23:00 GMT
Glencore has well-established recycling activities and is extending its role as a key part of the circular economy, Glencore Recycling’s global commercial lead, Kunal Sinha said.
LIVE FUTURES REPORT 17/05: Lead up 1%; copper rises following last week's decline
Mon, 17 May 2021 10:19:00 GMT
Prices of base metals on the London Metal Exchange were up during morning trading on Monday May 17, with lead gaining the most in percentage terms, after a week which saw all prices reach new highs, before ending lower on Friday.
IN FIGURES: China's crude steel output rises 13.4% in April
Mon, 17 May 2021 09:45:00 GMT
China’s crude steel, hot metal and finished steel production continued to experience year-on-year growth in April, according to data released by the country’s National Bureau of Statistics (NBS) on Monday May 17.
IN CASE YOU MISSED IT: 5 key stories from May 14
Sun, 16 May 2021 23:05:00 GMT
Here are five Fastmarkets stories you might have missed on Friday May 14 that are worth another look.
Brazilian ferrous scrap consumption to remain stable in H2, Inesfa says
Fri, 14 May 2021 19:08:00 GMT
Brazilian consumption of ferrous scrap has been higher in the first half of 2021 and is expected to maintain similar levels until the end of the year, Clineu Alvarenga, president of national ferrous scrap association Inesfa, told Fastmarkets on Thursday May 13.
JSW Steel reports 5% drop in steel output after diverting oxygen supplies
Fri, 14 May 2021 17:10:00 GMT
Indian steel producer JSW has reported a 5% drop month-on-month in crude steel production in April 2021, as a result of diverting oxygen supplies to hospitals to help treat coronavirus infections, the company has said in an announcement via the Bombay Stock Exchange.
LIVE FUTURES REPORT 14/05: LME ends week of multi-year highs on softer prices
Fri, 14 May 2021 16:37:00 GMT
Copper’s price on the London Metal Exchange ended the week lower despite hitting an all-time record high on Monday May 10, with the rest of the complex was also down on the week despite slight rises day on day on Friday.
Appian sells Caserones copper royalty for $23mln
Fri, 14 May 2021 13:45:00 GMT
London-based investment firm Appian Capital Advisory is selling the mining royalty for the Chilean Caserones copper mine to Nomad Royalty, a Canadian-based gold mining company, it said on Friday May 14.
African copper suppliers trying to cash in on record price struggle to find cargo space
Fri, 14 May 2021 13:05:00 GMT
Africa-origin copper shipments were facing delays as long as two months amid a lack of vessel space and increased numbers of stoppages of port operations, industry sources told Fastmarkets on Friday May 14.
Commodities trader Marex eyes London Stock Exchange listing
Fri, 14 May 2021 13:01:00 GMT
London-based commodities, energy and financial markets brokerage firm Marex plans to list on the main segment of the London Stock Exchange, it said on Friday May 14.
Chinese ports impose extra fees on Indian iron ore for Covid-19 checks
Fri, 14 May 2021 12:20:00 GMT
Some Chinese ports have made stricter checks or have imposed extra fees on iron ore cargoes from India recently, the better to prevent the spread of the Covid-19 pandemic, market sources have told Fastmarkets.
UK's SFO to investigate GFG Alliance
Fri, 14 May 2021 11:31:00 GMT
The United Kingdom's Serious Fraud Office is investigating the Gupta Family Group Alliance in relation to the organization's financing arrangements, it said on Friday May 14.
SHFE STOCKS REPORT 14/05: Inventories of most base metals rise; lead up by 22%
Fri, 14 May 2021 11:30:00 GMT
Base metals, with the exception of tin and zinc, registered an increase in inventories at Shanghai Futures Exchange-registered warehouses during the week to Friday May 14, with lead up the most in percentage terms, at 22%.
LIVE FUTURES REPORT 14/05: Dips continue for copper, aluminium; Rotterdam warehouses see first copper inflow since April 14
Fri, 14 May 2021 09:32:00 GMT
Copper dipped to its lowest price in a week during morning trading on Friday May 14, with aluminium also continuing to soften, while a slowdown in China’s economic stimulus has dampened the bullish sentiment seen earlier in the week.
Port Hedland's April iron ore shipments unchanged year on year
Fri, 14 May 2021 09:12:00 GMT
Australia’s Port of Port Hedland exported 45.1 million tonnes of iron ore in April, down by just 0.4% from 45.3 million tonnes a year earlier.
Cisa member mills cut finished steel output by 7% in early May
Fri, 14 May 2021 08:22:00 GMT
Member mills of the China Iron & Steel Association (Cisa) reduced their daily finished steel output on May 1-10, compared to the preceding 10 days, according to data published by the association on Thursday May 13.
MORNING VIEW: Metals weaker but broader market more upbeat after recent weakness
Fri, 14 May 2021 08:13:00 GMT
Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.
China’s 2nd-largest steel mega-merger to see Shagang control Anyang Steel
Fri, 14 May 2021 05:33:00 GMT
Eastern China’s Shagang will participate in a mixed ownership reform of central China’s Anyang Iron & Steel, and the former is likely to emerge as the controlling shareholder in the latter, according to a notice released by Anyang Steel late on Thursday May 13.
IN CASE YOU MISSED IT: 5 key stories from May 13
Thu, 13 May 2021 23:05:00 GMT
Here are five Fastmarkets stories you might have missed on Thursday May 13 that are worth another look.
PEOPLE MOVES: Kerkhoff takes over as Klöckner CEO, commits to digital transformation
Thu, 13 May 2021 18:23:00 GMT
Guido Kerkhoff has become chief executive officer of German metals distributor Klöckner & Co, Fastmarkets has heard.
Glencore joins trading rival Trafigura in talks for Cliveden copper contracts
Thu, 13 May 2021 17:08:00 GMT
Glencore has joined fellow global commodities trader Trafigura in holding talks to purchase a portion of Cliveden Trading’s copper book, informed sources told Fastmarkets on Thursday May 13.
LIVE FUTURES REPORT 13/05: Decreases of 1% or more across LME futures
Thu, 13 May 2021 16:58:00 GMT
Selling continued on the London Metal Exchange throughout Thursday May 13, leading to lower prices at the close, after higher-than-expected inflation readings from the United States triggered concerns of interest-rate increases on Wednesday.
AT A GLANCE: Novelis shipments rose more than 21% in fiscal Q4 2021
Thu, 13 May 2021 16:37:00 GMT
A summary of aluminium roller and recycler Novelis’ fiscal fourth-quarter 2021 operating results, released on Wednesday May 12.