Jiuquan Iron & Steel Group (Jisco) plans to temporarily close its Alumina Partners of Jamaica (Alpart) refinery for over a year in the next two to three months, sources told Fastmarkets on Friday August 30. Sources close to the matter said the refinery, which is located in Nain in St Elizabeth, Jamaica, needs to shut…Details
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All base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday August 30, with the biggest percentage fall in nickel stocks, which tumbled by 15.2% or 4,509 tonnes to 25,262 tonnes. The largest outflow in nickel inventories was from CMST Dachang’s warehouse in Shanghai, which delivered out 3,927 tonnes leaving…Details
An aluminium producer has offered fourth-quarter 2019 supply of aluminium to main Japanese ports (MJP) at a premium of $110 per tonne, according to market sources. The number is 1.9% higher than the cif MJP premium for the third quarter of $108 per tonne. “We are quite surprised that the offer is above $105 per tonne because…Details
BATTERY RAW MATERIALS MARKET REPORT 30/08: Cobalt hydroxide index up 28% in reaction to Mutanda closure
An overview of the battery raw materials markets and their latest price moves. Source of informationDetails
The Dawn reported that steel bar and flat products stakeholders in Pakistan are perturbed over slowdown in sales during July to August saying that most of the projects in public and private sector have been on hold coupled with rising prices of long and flat products. Former Senior Vice President, Karachi Iron and Steel Merchants…Details
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…Details
SSAB 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…Details
Domestic 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…Details
Leading 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…Details
Key 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…Details
Deccan 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…Details
Currency 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…Details
Reuters 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…Details