The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow was strong during the week ended Monday April 1, on seasonally good demand.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was stable at 43,900-44,000 roubles ($668-670) per tonne cpt Moscow on April 1, including 20% VAT."Demand [in the secondary market] remains st...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) has softened on improved availability of May-rolling products, sources told Fastmarkets on Monday April 1.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $500-515 per tonne fob Black Sea on April 1, down from $510-520 per tonne fob a week ago.Magnitogorsk Iron & Steel Works...Read More
CIS export rebar prices dropped by $10 per tonne week on week on Monday April 1 on subdued demand and a weakening of the Turkish import scrap market.Rebar offers from Ukraine and Belarus varied within the range of $470-475 per tonne fob Black Sea, down from $480-490 per tonne fob a week earlier, sources told Fastmarkets on Monday.Several sources reported a 30,000-tonne CIS-origin cargo being sold...Read More
Monthly European alloy surcharges for stainless steel products have increased for April because of higher component costs, including those for nickel, molybdenum and ferro-chrome, Fastmarkets heard on Monday April 1.April surcharges for grade-304 cold-rolled (CR) stainless sheets - according to data released by Outokumpu, Acerinox and Aperam - have increased to ?,?1,423-1,430 ($1,596-1,604) per to...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 1 that are worth another look.The United States has challenged European Union proposals to label titanium dioxide and cobalt as carcinogens on free-trade grounds. As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed exte...Read More
Daniel Guinabert began his new role as director general of Eurometal, the umbrella association for European steel service centers and distributors, on Monday April 1.He left his role as chief executive officer of ArcelorMittal Distribution Solutions BD Downstream on March 31.Guinabert joined...Read More
As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed extent of the surplus, according to Fastmarkets' market sources. Trader and consumer buying returned to the cobalt market in earnest last week for the first time in the best part of a year, but the restocking does not signal the beginning of a ret...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Monday April 1, supported by strength in both the Chinese and United States' manufacturing data despite continued market concerns over the health of the global economy. Despite reported strength from the manufacturing sector, US retail sales were weaker than expected in February at -0.4%, down from...Read More
The US copper price built on Friday's momentum with the base metals complex receiving a boost from strong Chinese manufacturing data on Monday April 1.The copper price for May settlement on the Comex division of the New York Mercantile Exchange rose by 1.25 cents to $2.9520 per lb. Overnight, the Chinese official manufacturing purchasing managers' index (PMI) rose to 50.5 in March, beating the exp...Read More
The weakness in the seaborne coking coal spot market persisted on Monday April 1 with participants anticipating further price decreases."End users are staying by the sidelines mostly because the market is still in a downtrend. This, coupled with the short-term uncertainties in the coke market, means seaborne coking coal prices will not get too much support," a...Read More
As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed extent of the surplus, according to Fastmarkets' market sources. Trader and consumer buying returned to the cobalt market in earnest last week for the first time in the best part of a year, but the restocking does not signal the beginning of a ret...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 1 that are worth another look.The United States has challenged European Union proposals to label titanium dioxide and cobalt as carcinogens on free-trade grounds. As consumer inventories of cobalt start to run low, their metal restocking alone is unlikely to establish a floor in ailing prices, such is the believed exte...Read More
Aluminum Corp of China (Chalco) has become the world's second-largest aluminium producer - overtaking Russian aluminium producer UC Rusal - by increasing output to 4.17 million tonnes, Fastmarkets understands.Rusal produced 3.75 million tonnes of aluminium last year.Chalco's 15.5% year on year output increase came amid a "complicated and fickle market environment," chairman Lu Dongliang said...Read More
Andrew Green has been promoted to executive director of the International Zinc Association (IZA), the trade group said on Monday April 1. CHICAGO - Andrew Green has been promoted to executive director of the International Zinc Association (IZA), the trade group said on Monday April 1. Green is a 20-year veteran of the zinc industry and was involved in...Read More
Nornickel, one of the world's top nickel producers, has announced plans to develop a mining project and nickel concentrator in its home country, Russia, to help it to achieve a projected 15% increase in nickel and copper production by 2025, Fastmarkets has heard.The company will invest 90 billion roubles ($1.37 billion) between now and 2023 in an attempt to develop the South Cluster mining project...Read More
Codelco's own refined copper output totaled 1.68 million tonnes in 2018, compared with 1.73 million tonnes in the previous year, the Chilean company said on Friday March 29 in its earnings report. Falling copper content in mined ore was one of the main reasons why overall production by the state-owned group reached 1.81 million tonnes during the year, below 1.84 million tonnes in 2017, according t...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Monday April 1, supported by strength in both the Chinese and United States' manufacturing data despite continued market concerns over the health of the global economy. Despite reported strength from the manufacturing sector, US retail sales were weaker than expected in February at -0.4%, down from...Read More
The US copper price built on Friday's momentum with the base metals complex receiving a boost from strong Chinese manufacturing data on Monday April 1.The copper price for May settlement on the Comex division of the New York Mercantile Exchange rose by 1.25 cents to $2.9520 per lb. Overnight, the Chinese official manufacturing purchasing managers' index (PMI) rose to 50.5 in March, beating the exp...Read More