The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday September 18, with the price breaching the nearby resistance value amid low trading volumes, while the rest of the base-metals complex continued to consolidate. Nickel futures closed at $17,200 per tonne in the afternoon, climbing by more…
SSAB has started to explore flexibility measures related to staffing adjustments at the end of August and initiated employer-employee negotiations in its Finnish operations concerning potential temporary lay-offs of a maximum of 90 days. The negotiations have now ended and there will be a temporary lay-off need averaging 2-3 weeks in 2019. The temporary layoffs…
Market sources expected that domestic prices for hot-rolled coil (HRC) in Europe will continue to decline due to persisting poor demand and mounting pressure from reductions in import offer prices, sources told Fastmarkets on Wednesday September 18. Suppliers from Turkey and India have been active in the European market to compensate for the lack of…
Business Line reported that Ministry of Mines has allowed Steel Authority of India Ltd to offload, in a year, up to a quantity equivalent to maximum of 25 per cent of total iron ore production in the previous year. This is subject to clearance from the respective State governments where the mines are located. It…
Activity in the EU strip mill product market was muted during the summer holidays. Numerous supply chain participants remarked that conditions were quieter than usual for the time of year. In early/mid-September, the market remained subdued. Procurement by distributors is still weak, due to concerns about their own tight resale margins. Overall demand indicates little,…
The price of wire rod delivered in the Southern European market went down this week amid slow trading, Fastmarkets heard on Wednesday September 18. Fastmarkets’ assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was €470-490 ($519-541) per tonne on Wednesday, down by €10 per tonne from the week… Source of…
Vallourec’s Supervisory Board met under the chairmanship of Vivienne Cox to discuss the succession plan for the Management Board whose terms of office expire on 15 March 2020. As Philippe Crouzet did not wish to take on a new term of office, the Supervisory Board has managed an internal and external selection process. At the…
Seaborne iron ore prices softened further on Wednesday September 18 amid a roller-coaster ride in the futures market. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $96.42 per tonne, down by $0.75 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.81 per tonne, down by $0.75 per tonne. 62% Fe low-alumina fines, cfr…