Base metals on the Shanghai Futures Exchange mostly traded higher during morning trading on Friday August 30 following improved sentiment attributed to positive comments from the Chinese Commerce Ministry late on Thursday amid China’s trade war with the United States. “China has ample means for retaliation, but thinks the question that should be discussed now…Details
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The Danieli C-Stock Consignment Stock System represents a unique opportunity for metals producers to select Danieli as preferred provider for the supply of high-turnover items, including high-wear parts. The system allows customers to avoid costly procurement, to exploit dilution of parts expenses, and to enjoy from rapid and continuous availability, granting continuity of operation and…Details
Due to a technical issue, Fastmarkets MB’s 65% Fe Brazil-origin iron ore fines index data series found in the Fastmarkets Excel Add-in had some missing data. The missing data was scattered from November 2014 to March 2015. The missing data was from November 26, 2014 to December 5, 2014; December 16, 2014; from December 22,…Details
Indian government has sought inputs from the steel industry for usage of LD slag in the next two weeks as it has been accumulating over the years and posing a problem. LD slag a by product of a steel making process, is not used in India unlike the blast furnace slag which is being commercially…Details
Import share, as a proportion of apparent finished steel consumption, in the EU, has been on an upward trend for several years. However, this largely remained below 20 percent, prior to 2018. The US government’s application of Section 232 tariffs, from March 2018, disrupted international trade flows. This caused concern amongst many steelmakers, in the…Details
The Fastmarkets MB 65% Fe Brazil-origin iron ore fines index, first published in January 2014, was launched with a six-month published price history. This data, dating to August 2013, was calculated internally prior to the index’s launch. Due to a technical issue, the data series found in Price Book and Fastmarkets’ Excel Add-In only extended…Details
Tata Steel may look at commercial mining as a business opportunity, drawing on its expertise in the exploration and production of coal and iron ore for more than a century. The company is exploring the possibility of entering the merchant mining space and bidding for mines when they are put up for auction. Mr Koushik…Details
US flat product steelmakers are bucking the seasonal price trend, by pressing for a rise in local values, despite the summer lull in activity. Domestic suppliers, in an attempt to stave off the threat of further losses, introduced a series of list price hikes, during the July/August period. Local mills had little option but to…Details
Turkish steel billet prices have gone down over the past week in line with falling scrap values and limited demand for the material, sources said on Thursday August 29. Fastmarkets’ weekly price assessment for steel billet, import, cfr main port Turkey, was $395-405 per tonne on Thursday, down from last week’s $410-415 per tonne cfr.…Details
Reuters reported that Nippon Steel Corp aims to raise product prices and boost productivity by streamlining its manufacturing structure to help shore up faltering earnings. Nippon Steel EVP Mr Katsuhiro Miyamoto told Reuters in an interview “Steel demand is weakening this quarter, especially overseas and is expected to deteriorate later this year. Demand for flat…Details
Physical iron ore prices retreat slightly on Thursday August 29 while market participants await confirmation of production restrictions in China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $81.47 per tonne, down $0.98 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $81.85 per tonne, down $0.98 per tonne. 62% Fe low-alumina fines, cfr…Details
Moody’s Investors Service says in a new report that rising input costs and an inability to pass on higher costs to customers is pressuring the profitability of Asian steel producers, and has as a result revised its outlook for the sector to negative. Chris Park, an Associate Managing Director in Moody’s Corporate Finance Group, said…Details
The volume of capital investments in the metal industry and the manufacture of metal wares in January-June grew by 38.3% YoY, to 12.34 billion UAH. In Q2 the investments dynamics improved considerably – 48.3% from 27.6%. According to the State Statistics Service, investments in mining increased by 42.9% YoY, to 30.9 billion UAH. In Q1…Details