Chinese iron ore futures rose more than 4% on Tuesday, extending gains into a fourth session, as steel mills restocked raw materials even though top steelmaking cities carried out anti-pollution curbs. The most-traded iron ore futures contract on the Dalian Commodity Exchange for January 2020 delivery rose as much as 4.2% to 644 yuan ($90.80)…
Aluminium prices on the London Metal Exchange remain at historically low levels despite low stock levels, high premiums and sustained elevated raw materials costs. The LME aluminium three-month price has failed to trade over $2,000 per tonne since 2018 and closed at just $1,775 per tonne on Wednesday September 4. Yesterday’s close price was 9%…
Reuters, citing people familiar with the matter, reported that Thyssenkrupp has started a structured process to look for potential buyers of all or parts of its elevator unit, its most profitable division. Source of information
MEXICO CITY – Mexico's government said on Wednesday that new duties imposed on some Mexican structural steel by the U.S. Commerce Department are part of a normal investigation when an industry feels it is being affected by imports that use unfair practices, such as dumping or subsidies. "The investigation in question is ongoing and the…
The three-month tin price on the London Metal Exchange has rebounded by more than 4% during morning trading on Thursday September 5, prompted by the announcement of planned refined tin smelter production cuts by a basket of 14 smelters in China. Tin’s outright price reached an intraday high of $17,740 per tonne this morning, its…
India Ratings and Research has revised its outlook on the steel sector to stable-to-negative from stable for the remainder of FY20 given sluggish steel demand growth expectations owing to mix of structural and cyclical concerns in end-user sectors, primarily auto and real estate construction. Hence, Ind-Ra has revised downwards its FY20 steel demand growth expectations…
German steel giant Thyssenkrupp AG will have to leave Germany's benchmark DAX index on September 23, the Deutsche Boerse announced on Wednesday evening. Thyssenkrupp will be replaced by German aircraft engine manufacturer MTU Aero Engines AG, the Deutsche Boerse said. After its exit from the DAX, Thyssenkrupp will be included in the MDAX index, the…
Trading activity in China’s domestic rebar market picked up on Thursday September 5 due to an open arbitrage window between physical and futures prices. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($510-514) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,640-3,660 yuan per tonne, up 30-40 yuan per tonne A gap of about 200…