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The three-month nickel price on the London Metal Exchange continued to surge at the close of trading on Friday August 30, closing at its highest level since September 2014, while a 3.6% uptick in tin futures did little to close a widening gap between the two metals. Nickel’s rally began just before midday after the…
DetailsSSAB introduces flexibility measures and initiates employer-employee negotiations in its Finnish operations. The initiatives are due to a reduction in production volumes in the Nordic operations. The negotiations to be initiated concern potential temporary lay-offs in the Finnish operations, excluding Lappohja tube mill and the subsidiaries Ruukki Construction, Tibnor, Raahen Voima and Presteel. The negotiations…
DetailsDomestic rebar prices in Poland remained unchanged this week with market activity just beginning to recover after the seasonal summer slowdown, sources told Fastmarkets on Friday August 30. Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, remained at 2,150-2,200 zloty ($542-555) per tonne on August 30. The assessment reflected the… Source…
DetailsLeading Russian mining and metals companies Mechel PAO has signed a major contract for coke and coal supplies with the international trading company Steel Mont. According to the agreement, before the end of 2020 Mechel will supply Steel Mont with up to 700,000 tonnes of products, including up to 350,000 tonnes of metallurgical coke produced…
DetailsKey data from the pricing sessions in China, Asia, Europe and the United States for the week ending Friday August 30. Europe The high-carbon ferro-chrome market ticked down in response to business being reported at the lower end of the range and below. Some producers were aggressive in their offer prices to generate liquidity. At…
DetailsDeccan Herald reported that Steel Minister Dharmendra Pradhan has sought enhanced technology and investment support from Japan for the domestic steel sector. He discussed bolstering energy ties between the two oldest democracies in Asia and sought increasing role of Japanese technology and investments into the Indian steel sector. The meeting assumes significance as steel companies…
DetailsCurrency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019. These five currency pairs should be on your watch-list for the significant influences…
DetailsReuters reported that Britain announced GBP 390 million of spending for low carbon technology, most of which will go to the steel industry in a fund to help it reduce emissions. The announcement of GBP 250 million Clean Steel Funds was accompanied by a GBP 100 million fund to develop the production of hydrogen, which…
DetailsFerrous scrap prices around the world fell over the week ended Friday August 30 on thin buying interest from end-users, which expected more price falls so were not eager to purchase materials. Ample supply damps prices More falls in export prices expected Prices plunge on thin buying interest Limited transactions on weak downstream demand. Turkey…
DetailsNLMK Group has placed an order with SMS group for the delivery of two gas recovery systems for its Lipetsk site. Steelmaking shop no 1, which has three 160 tonne converters, is to be equipped with a switch-over station, a gasholder with a capacity of around 60,000 cubic meters, and a gas transfer station. Steelmaking…
DetailsAnother local metal manufacturing company will close due to the increased cost of steel tariffs, as well as other “crippling” business conditions, according to a filing with the Texas Workforce Commission. United Structures of America, a Houston metal fabrication and engineering company with facilities here and in Portland, Tenn. will cease operations. The company’s Houston…
DetailsEuropean aluminium billet premiums on Friday August 30 traded at their lowest since late 2016 and early 2017, pressured by a sustained oversupply in the region. Oversupply, aggressive offers sink premiums in Europe. Brazilian billet premium falls on weak demand. US, Asian billet premiums steady. European premiums hit by sustained oversupply European billet premiums hit…
DetailsSky News has learnt that Systra, which has been engaged in talks to buy TSP for three months, has clinched a deal to buy the business, along with its GBP 70 million plus pension liabilities. The agreement is expected to be announced by Systra and the Official Receiver, which has been managing British Steel since…
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