German long steel producer BSW shuts down for 10 days
German long steel producer BSW has informed its ferrous scrap suppliers that it will halt production for 10 days in mid-to-late August.
The stoppage is expected to reduce the mill's ferrous scrap consumption by around 80,000t this month. The downtime is broadly in line with last year's summer stoppage.
Other German steel mills are likely to close for 7-14 days in August for maintenance, market participants said.
Scheduled maintenance, coupled with anticipated lower steel orders, drove mills to reduce their scrap requirements and target prices for August delivery.
Many negotiations for scrap deliveries in August between mills and scrap suppliers are continuing. Most mills are heard to have closed or indicated prices ranging from a rollover to a €5/t reduction from the previous month, depending on grades and volume.
The Argus monthly average delivered to mill assessment for E40 shredded ferrous scrap in Germany was €239.26-249.26/t ($268.43-279.65/t) in July.
The Argus daily cfr Turkey assessment for premium HMS 1/2 80:20 ferrous scrap fell by $6.50/t to $287.50/t on 9 August, from $294/t on 15 July, when the German domestic market was last assessed.
BSW has crude steel production capacity of around 2.5mn t/yr. Riva in eastern Germany and Feralpi in central Germany are the two other major German rebar producers.
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
