June 2020

MRI appoints Nunnenmacher new CEO; Paterson becomes President

Swiss metal merchant MRI Trading has appointed Markus Nunnenmacher as its new chief executive officer, with longstanding head Iain Paterson stepping down from the role effective from July 1.

GULF FLAT STEEL IMPORTS: HRC prices down but HDG demand improves

Hot-rolled coil import prices in the United Arab Emirates and Saudi Arabia have decreased this week while hot-dipped galvanized coil prices have widened upward, with demand better than in previous weeks, sources told Fastmarkets on Tuesday June 30.

Europe ferro-silicon market drops to March 2016 low

The European spot ferro-silicon price resumed its downturn last week, falling to a level last seen in March 2016 with consumers in the steel sector dragging down the cost of feedstock against a slump in end-user consumption.

EU toughens existing safeguard measures in second review

The European Commission (EC) has toughened the existing safeguard measures on imports of steel products in the second review of the matter, it said on Tuesday June 30.

IRON ORE DAILY: 62% Fe fines index continues losing while others recover

Seaborne iron ore prices have fluctuated at current levels amid increasing Chinese manufacturing PMI, which is helping market sentiment to recover, sources said.

China’s flat steel export down sharply in May on unattractive prices

Most major foreign buyers of cut flat steel imports from China in May due to non-competitive prices, but a few buyers of rebar have signed direct supply contracts in large tonnages with Chinese mills.

Major Chinese stainless steel mills lower July ferro-chrome tender prices by $14 per tonne

China’s leading stainless steel producers - Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - have all lowered their high-carbon ferro-chrome tender prices for July following a recent backswing in upstream chrome ore prices.

CHINA HRC: Importers snub cargoes from India amid higher freight rates

China’s domestic hot-rolled coil prices rebounded on Tuesday June 30, but importers still had little interest in shipments from India due to an increase in freight rates.

COKING COAL DAILY: Seaborne coking coal prices flat on inactive trading

Seaborne coking coal prices across the board stayed relatively flat on Tuesday June 30 due to a lack of trading, Fastmarkets heard.

CHINA REBAR: Price decline persists despite Tangshan output curbs

China’s domestic rebar prices fell further on Tuesday June 30 amid soft demand despite the country’s steelmaking hub of Tangshan announcing a new round of restrictions for July.