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The pellet segment of the seaborne iron ore market is starting to show signs of moving from annual contracts to shorter-term ones. The recent drop in iron ore prices amid improvements in Brazilian and Australian supply and a weak global steel market have led to buyers renegotiating the premium they had agreed with Brazil’s Vale…
DetailsNWI Times reported that anew president has been named at Gary based Chemcoaters. It hired Mr Connor McMenamin, who most recently headed up Tata Steel’s operations in Mexico. He also worked in sales and account management for India based multinational steelmaker. A University of Illinois alumnus, McManamin is fluent in Spanish, Portuguese, Arabic and French.…
DetailsIndian domestic secondary billet prices rose by 300 rupees ($4) per tonne week-over-week in the seven days ended Friday September 13, on the rising costs of finished long steel products and tight supply of semi-finished materials. The price of steel billet domestic, ex-works India, assessed by Fastmarkets on September 13, was up by 300 rupees…
DetailsWestern Superconducting Technologies Co Ltd in Xian in Shaanxi Province of China has successfully put into service a 63/80-MN two-column high-speed push-down open-die forging press supplied by SMS group. The supply also included two integrated railbound 25-ton manipulators and a mobile eight-ton loading and unloading manipulator. The Chinese company is now able to flexibly manufacture…
DetailsCold-rolled and galvanized steel prices in the United States declined over the past week, with weakening end-market demand and September’s ferrous scrap settlement working in tandem to erode spot market prices. Fastmarkets’ weekly price assessments for steel cold-rolled coil, fob mill US, and for steel hot-dipped galvanized (base) steel coil, fob mill US, both decreased to $37…
DetailsThe steel industry recognizes the importance of the issues surrounding emissions to air and their impact on ambient air quality, human health and the environment. For decades, the steel industry has taken measures to address these issues, thereby significantly and demonstrably reducing emissions per tonne of steel. Steel, whether produced via the integrated, direct reduced…
DetailsHere are five Fastmarkets MB stories you might have missed on Thursday September 12 that are worth another look. The three-month nickel price on the London Metal Exchange closed lower on Thursday September 12, while considerable tightness in the metal’s forward spreads prompted questions in the market about prospective deliveries into LME warehouses to ease trading conditions.…
DetailsManila Times reported that Philippines Presidential Anti-Corruption Commission has launched an investigation into the allegations of corruption against several big steel manufacturers and officials of the Bureau of Customs involving the smuggling of steel that has deprived the government of billions of pesos in tax revenues. PACC Chairman Dante Jimenez said his office has brought…
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