Based on preliminary Census Bureau data, the American Iron and Steel Institute reported today that the US imported a total of 3,028,000 net tons of steel in July 2019, including 1,843,000 net tons of finished steel (up 48.3% and 6.6%, respectively, vs. June final data). Through the first seven months of 2019, total and finished…Details
Key data from the pricing sessions in Asia and Europe during the week ended Friday August 23. Europe Key drivers Prices for both grades of antimony in Europe weakened on August 23 due to slow demand and few tonnages being exchanged. The price for antimony MMTA standard grade II, in-whs Rotterdam, has fallen by 0.4% while that for antimony max…Details
After revealing plans to let go of up to 200 workers at its Great Lakes facility in Michigan, US Steel announced on Friday that it will idle a plant in East Chicago in Indiana by mid-November as part of the consolidation of its till mill operations in the United States, a move which could result…Details
The price for ammonium paratugnstate (APT) in Europe moved lower in the week ended Friday August 23, weighed down by bearish sentiment ahead of the late-August auction for the entire antimony stock held in the defunct Fanya Metal Exchange. Meanwhile, the Chinese APT export price was stable amid market uncertainty. Tungsten concentrate prices again stable…Details
ArcelorMittal Brazil has extended the stoppage of its Tubarao’s Blast Furnace No 2 to the end of the year, from an initially expected 70-day time frame. Company CEO Flat Carbon South America Mr Benjamin Baptista on the sidelines of Instituto Aco Brasil steel congress last week said that “We are going to take a slow…Details
While the major Chinese stainless steel mills are expected to release their September tender prices for domestic ferro-chrome this week, the majority of market participants expect a price increase in near future tenders, including for September, Fastmarkets understands. Some market participants also long for such a price hike to boost the overall ferro-chrome market, which…Details
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
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…
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
It has been three years since the commissioning of the polymer-coating unit No. 5 at the Lysvensky Metallurgical Plant, which currently manufactures products with decorative designs under the SteelArt brand. These products consist of a metal base with a three-layer polymer coating, which accurately imitates the look and feel of natural materials such as stone,…Details
China’s iron ore futures dropped 2% on Thursday, falling for a sixth day in a row, as traders remained wary about expected increase in supplies from miners. “Sentiment of traders has collapsed… People don’t know how much further the iron ore will go down and everyone is desperately getting rid of the goods they hold,”…Details
MUMBAI: Synergy Group Corp, a South American conglomerate that owns majority shares in airlines including Colombian carrier Avianca Holdings, has shown exploratory interest in investing in Jet Airways, said a person aware of the development. The conglomerate submitted an expression of interest for the bankrupt and grounded airline after the August 10 deadline set by…Details
Brazilian iron ore exports fell by 4.7% on the year in July, with Vale’s successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil’s ministry of economy showed.
Brazilian iron ore exports fell by 4.7% on the year in July, with Vale’s successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil’s ministry of economy showed. The country exported 34.27 million tonnes of the steelmaking raw…Details
PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2019. Q1 2019 GROUP HIGHLIGHTS Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in…Details