The Edge Markets reported that dragged by lower selling prices, Southern Steel Bhd reported a net loss of RM34.85 million for the fourth quarter ended June 30, 2019, as compared with a net profit of RM35.21 million a year ago. This is the third consecutive quarterly net loss, resulting in a full year loss of…Details
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Aluminium premiums were mostly stable globally during the week ended Tuesday August 27, with participants shifting their focus to longer-term contract negotiations. But the recovery recently seen for Rotterdam material was spreading throughout Europe. Rotterdam uptrend pushing European premiums up Main Japanese port (MJP) premium flat; focus goes to quarterly contracts Premium in United States’…Details
Bloomberg reported that world’s largest vanadium producer outside China Evraz Plc said steelmakers are boosting their use of vanadium again after it slumped as much as 75% this year. Alexander Erenburg, VP of Evraz, said “The current vanadium price of USD 30 to USD 40 per kilogram makes it optimal for steel alloying both in…Details
The Chinese ferro-silicon price continued to trend lower over the past week amid persistently weak domestic demand, while prices in Europe and the United States were steady in inactive spot markets. China’s domestic ferro-silicon price drops on weak demand, adequate supply Export price in China steady but vulnerable EU prices steady in quiet market US…Details
China Steel Corp announced that it would keep steel prices unchanged for most products for domestic deliveries in the fourth quarter and would increase prices moderately on two products to reflect improved market conditions. The company would increase the price of electrical sheets by NTD 255 per tonne and electro-galvanized sheets by NTD 173 per…Details
The export market for Commonwealth of Independent States (CIS)-origin hot-rolled coil and cold-rolled coil weakened during the week ended Monday August 27 amid anticipated further price declines and high trader stocks. Fastmarkets’ price assessment for steel HRC, export, fob Black Sea, CIS was $450-460 per tonne on Monday, falling by $20 per tonne week-on-week. “We see that…Details
Mr PK Rath, CMD of RINL, while reviewing the performance of the plant and current steel market scenario with senior management, has taken stock of the situation on Company’s financial front and the initiatives to improve the cash flow. He expressed the hope that Steel Industry has a great future and will recover shortly due…Details
PRICING NOTICE: Discontinuation of third-party ferrous scrap, non-ferrous scrap and foundry ingot prices
Fastmarkets MB has today discontinued 40 steel scrap, non-ferrous scrap and foundry ingot prices. After a two-month notice period, Fastmarkets MB has delisted and ceased the publication of steel scrap prices from BDSV; aluminium alloy prices from Affimet; zinc alloy prices from Brock Metals; and non-ferrous scrap and foundry alloy prices from Lettre D’Information Metaux,…Details
Mumbai: Aug 26 (PTI) The mayhem in equities market and falling deposit rates have retail investors lapping up corporate debt like never before, if the overwhelming response to the recent/ongoing NCD issues from NBFCs, which are facing one of the worst liquidity crisis ever, is any indication. This shows that retail investors’ confidence in NBFCs…Details
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country’s lira, but ship scrap prices have been stable, sources said on Tuesday August 27. Fastmarkets’ weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing…Details
Mint reported that according to an Economic and Political Weekly study by Jayanta Kumar Mallik of the Reserve Bank of India, the current method of measuring gross capital fixed formation, which is regularly used as a proxy for investment activity, needs more scrutiny and could be biasing overall GDP growth estimates. According to Mallik, GFCF…Details
China’s hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States. Domestic Eastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per…Details