BATTERY RAW MATERIALS MARKET REPORT 20/09: Seaborne lithium prices grind lower amid ample supply
An overview of the battery raw materials markets and their latest price moves.
Banker Steel Completes Structure Vanderbilt project in New York
WDBJ7 reported that Banker Steel Company announced the completion of the structural steel for the One Vanderbilt project in New York. The steel used in One Vanderbilt was fabricated in the Virginia and New Jersey plants of NYC Constructors, a subsidiary of Banker Steel Company. One Vanderbilt’s tiered steel tower is complete at 1,401 feet,…
DetailsLIVE FUTURES REPORT 20/09: LME lead price breaches $2,100/t; strong backwardation persists in nickel
The three-month lead price on the London Metal Exchange rose by 1.2% at the close of trading on Friday September 20, climbing beyond the $2,100 per tonne support level, while forward spreads in LME nickel tightened over the afternoon. Lead futures closed at $2,120 per tonne, its highest closing price since March, while just under…
DetailsSSAB, LKAB and Vattenfall to Advocate for Zero Emissions in Iron & Steel Industries
SSAB, LKAB and Vattenfall, the owners behind the HYBRIT initiative, will participate in the Climate Week NYC and UN Climate Action Summit in New York. The message they will bring is that it is possible to reach net zero emissions in the iron and steel industry and energy sector. UN Secretary-General Antonio Guterres has invited…
DetailsUS PIG IRON: Market falls on buyers’ pessimism on prices
The import market for pig iron in the United States fell in the week ended Friday September 20, with buyers still not ready to resume purchases and expecting lower prices because of the weak scrap sector and planned maintenance outages in December. Fastmarkets’ price assessment for pig iron, import, cfr Gulf of Mexico, US, was…
DetailsToyota Tsucho America & Modumetal form JV for Nanoaly Alloy
Toyota Tsusho America and Modumetal have announced an agreement of a non-binding MoU for the establishment of a joint venture to deploy Modumetal’s patented nanolaminated alloy product NanoGalv, which can be used for industrial fastener and bolting applications. The joint-venture company will be known as ModuTAI, which plans a new production facility in Houston Texas…
DetailsFOCUS: Fanya auctions give momentum to minor metals prices after years of overhang
Questions about the fate of stocks held by the defunct Fanya Metal Exchange have been a weight on negotiations in many minor metals markets since the bourse collapsed in 2015, and have contributed to the uncertainty that has stifled trade for much of 2019. Buying appetite in the spot market has weakened, and prices for…
DetailsWEEKLY SCRAP WRAP: Global scrap prices succumb to market pessimism
Global scrap prices continued to fall in all major markets during the week ended Friday September 20, under pressure from persistent negative sentiment and with market participants seeing no prospect of relief. Turkey import prices fall further; suppliers accept lower prices US export prices down for cargoes sold off both coasts Asian import prices decline…
DetailsSteel industries Need to Focus to Meet on Future Mobility- worldsteel
The trend toward connected, self-driving, shared and electric vehicles is quickly moving from concepts to commercial viability. Self-driving vehicles will introduce a new kind of freedom both for the driver and its occupants. Vehicles will no longer be designed around the driver but designed to serve the needs and comfort of the occupants. With the…
DetailsBrazilian pig iron export prices down on weak scrap, low demand
Export prices for pig iron from Brazil have gone down on the influence of weak global scrap pricing and fading demand, sources told Fastmarkets during the week ended Friday September 20. Fastmarkets’ weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $285-300 per tonne on Friday, down from $305-310 per tonne last week.…
DetailsUS Steel Kosice Unionists Present Petition to Save Steel Industry
TASR reported that labour unionists delivered a petition signed by employees of US Steel Kosice to Prime Minister Peter Pellegrini urging the Government to take action to help save steel industry jobs in both Slovakia and Europe. The petition was launched at US Steel Kosice on July 22. OZ KOVO company labour union head Juraj…
DetailsBrazilian slab export prices stable amid strong pressure from buyers
Brazilian slab export prices remained unchanged in the week ended Friday September 20, with no deals agreed while buyers and sellers battled to establish a new price. Fastmarkets’ weekly price assessment for steel slab, export, fob main port Brazil, was $420-435 per tonne on September 20, unchanged week-on-week. The price corresponded to the most recent…
DetailsBlueScope Allegedly Tried To Rig Prices – Report
WA reported that Australia’s largest steel company BlueScope in 2013 elevated Mr Jason Ellis, the son of former BHP chairman Mr Jerry Ellishim from a regional divisional manager in Thailand to one of the most senior positions in the company the general manager of sales and marketing. Within months of assuming his position, one that…
DetailsChina steel futures open lower
SHANGHAI, Sept. 20 (Xinhua) – Steel futures opened lower Friday in daytime trading on the Shanghai Futures Exchange. The most active construction steel rebar contract for January delivery was down 66 yuan (about 9.33 U.S. dollars) to open at 3,381 yuan a tonne. The most active January 2020 contract for hot rolled coils, mainly used…
DetailsFlat steel import prices mostly down, stable in South America on global downturn
Prices for imported flat-rolled steel in South America were mostly down in the week to Friday September 20, given a continuing global downtrend and low demand from the region. Fastmarkets assessed the price for steel hot-rolled coil import, cfr main ports South America, at $490-500 per tonne on September 20, down from $500-515 per tonne…
DetailsPrimetals Technologies & Tata Steel Europe complete Remote Commissioning of Continuous Caster
For the first time in over 50 years of cooperation, Primetals Technologies and Tata Steel Europe have commissioned a Level 2 system for a continuous caster completely online. In mid-July 2019, the newsystem from Primetals Technologies successfully replaced the existing automation on continuous casterCC21 of Tata Steel Europe in IJmuiden, the Netherlands. At the same…
DetailsGlobal Steel Industry Facing Surplus Production: Dharmendra Pradhan
Indian steel industry is facing some challenges amid the ongoing trade war between the US and China, according to Union Steel Minister Dharmendra Pradhan. The minister also noted that the global steel industry is facing the challenge of surplus production. Pradhan was interacting with reporters on the sidelines of two-day International Galvanising Conference event here.…
DetailsCIS STEEL BILLET: Mills reluctant to accept lower bids
CIS producers of steel billet have kept their offer prices stable despite mounting downward pressure from the poor international scrap trading environment and limited demand, market sources told Fastmarkets on Friday September 20. Fastmarkets’ daily steel billet index, export, fob Black Sea, CIS, was $357 per tonne on September 20, compared with $356 per tonne…
DetailsJSW Steel Promoters Repay Debt
JSW Steel Ltd informed BSE that it has repaid debt of INR 1,148.59 crore to take a release of 5.07 crore of its pledged shares, representing about 2.09% of its share capital. The debt was repaid by three promoter entities that got their pledged shares released. These were, JSW Techno Projects Ltd. that repaid about…
DetailsVietnamese Steel Sector under Pressure – VSA
VNA reported that escalating trade tensions and rising protectionism have caused a formidable pressure on Vietnamese steel sector. The Vietnam Steel Association has said local steel producers faced difficulties in the first months of 2019 when prices averaged just 650 USD per tonne, a fall of 12 percent compared to the same time last year,…
DetailsSHFE STOCKS REPORT 20/09: Copper inventories fall 7% ahead of National Day holidays
Restocking by downstream consumers in preparation for China’s National Day holiday was the main driver of a drawdown of most base metal stocks at Shanghai Futures Exchange-approved warehouses in the week to Friday September 20. All base metals inventories fell, barring zinc and nickel. Copper stocks tumbled by 7.1% or 10,809 tonnes to 141,379 tonnes…
DetailsBaowu Completes Merger with Magang to Become 2nd Largest Steel Maker Globally
Chinese state owned Baowu Steel Group inked an agreement with Magang (Group) Holding Co Ltd to secure a 51% stake in the latter. Mr Chen Derong, chairman of Baowu said the partnership was a continuation of the long-term cooperative relationship between the two, as well as a major move in pushing for the supply-side reform…
DetailsUkraine: pipe output up in January-August 2019
In January-August Ukraine increased pipe output by 0.6% YoY, to 738.5 thousand tons. In August 75.8 thousand tons of pipes were produced. Ukrtruboprom enterprises decreased output by 1.2%, to 539.2 thousand tons, with 53.7 thousand tons produced in August. Interpipe NTZ decreased pipe manufacture by 14%, to 170.6 thousand tons, and Trubostal – by 15%,…
DetailsFalling Raw Material Costs Add to The Negative Trend in Northern European Steel Prices
Northern European suppliers of flat steel products report sluggish activity, since the end of the summer vacation period. Carmaking, in Western Europe, continues to be depressed, while other manufacturing sectors show little sign of picking up. Falling raw material costs add to the negative trend in northern European steel prices. Few third country offers are…
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