Seaborne iron ore prices dropped below $85 per tonne cfr again on Monday August 26 after trade tensions between China and the United States escalated over the weekend. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.91 per tonne, down $2.90 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $85.29 per tonne, down…Details
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India Ratings and Research has published the credit news digest on India’s steel sector for July 2019. The report highlights the demand-supply scenario, price trends, imports & exports in both India and China, encompassing finished steel products, both flat & long, scrap, iron ore, coking coal etc., while also looking at the impact of end-user…Details
In the first half of 2019, MMK Group allocated 1.04 billion roubles to social support programmes and charitable causes. Among the priority areas of social support were assistance to pensioners and children, as well as the improvement of health conditions for the employees of the company. The full range of social and charitable programmes implemented…Details
China’s hot-rolled coil prices dropped in both the spot and futures markets on Monday August 26, amid escalating trade tensions between the country and the United States. Domestic Eastern China (Shanghai): 3,670-3,680 yuan ($517-519) per tonne, down 50 yuan per tonne Northern China (Tangshan): 3,650 yuan per tonne, down 50 yuan per tonne Spot prices…Details
Indian steel industry has transformed substantially during 2018-19, with several mills changing ownership under IBC, commissioning of new capacities, as well as unveiling of new expansion plans by some of the Indian steel giants. Indian Steel Sector Map 2019, an update version of 2018 map, depicts capacities of various steel makers at various locations and…Details
Base metals prices on the Shanghai Futures Exchange tumbled across the board on the morning of Monday August 26, reflecting a further escalation of trade tensions between the United States and China after both sides said they would ramp up tariffs against each other. Last Friday, China said it would impose tariffs on $75 billion…Details
Chinese steel producer Shandong Iron and Steel Groups Shandong Province based subsidiary Shandong Iron and Steel Co Ltd has reported net profit slump 65.58% YoY in the first half of 2019. The company’s net profit attributable to shareholders reached CNY 577.5 million (USD 81.5 million) in the first six months, compared with CNY 1.68 billion…Details
Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices. Fastmarkets’ daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week. Meanwhile, Fastmarkets’ daily index…Details
China’s Anyang Iron & Steel is investing 5.84 billion yuan ($828 million) in a new steel production facility in Henan province. The move is part of a capacity replacement program approved by Henan’s provincial authorities in December 2017 to conform to new… ИсточникDetails
Aluminium alloys from China will be subject to at least 20% in tariffs by September while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets.
Aluminium alloys from China will be subject to at least 20% in tariffs by September while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets. That is because the new tariffs US President Donald Trump signaled against China…Details
PAO Severstal and Air Liquide have signed a new long-term contract for the supply of oxygen, nitrogen and argon in Cherepovets. Air Liquide will invest around 50 million euros in the construction of a state-of-the-art Air Separation Unit (ASU) which will improve the energy efficiency and the overall environmental footprint of the Severstal production process.…Details
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look.
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look. The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May. The Chinese government…Details
The weakening of the yuan to a decade-low against the US dollar is causing a lot of disruption to steel trading markets in Asia, sources told Fastmarkets this week.
The weakening of the yuan to a decade-low against the US dollar is causing a lot of disruption to steel trading markets in Asia, sources told Fastmarkets this week. “The situation is very chaotic now, and bids and offers are all over the place,” a trader in East Asia said on Monday August 5. China’s…Details