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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…
DetailsTurkish 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.…
DetailsReuters 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…
DetailsPhysical 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…
DetailsMoody’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…
DetailsThe 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…
DetailsIn June Russia imported 76 thousand tons of chromium ore and concentrate, down by 16.8% MoM and by 12.2% YoY. Deliveries from Kazakhstan decreased by 10%, from South Africa by 58% and from Turkey by 56%, to 70, 2 and 4 thousand tons respectively. In 6 months the imports of chromium ore totaled 486.1 thousand…
DetailsTALCO Gold, a joint venture created by the Tajik state aluminum company TALCO and Chinese Tibet Huayu Mining, announced that it would start developing the mercury-antimony deposit Konchoch in March 2020. TALCO received the license back in 2015. The joint venture plans to extract some 15 thousand tons of antimony per year and produce 6…
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