Oil fell on Monday as an emergency rate cut by the US Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus, while a price war between top producers added to a growing supply glut.
News ID: 8754 Publish Date : 2020/03/16
Oil giant Saudi Aramco on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to “rationalize” capital spending in the wake of the coronavirus outbreak.
News ID: 8736 Publish Date : 2020/03/15
Canada's Methanex, the world's largest producer of methanol, has idled its 850,000 t/yr Titan plant in Trinidad effective today and will idle its 800,000 t/yr Chile IV methanol plant effective 1 April, both for an indefinite period.
News ID: 8727 Publish Date : 2020/03/16
The company has released its monthly steel output results yesterday which reported fall in crude steel and finished steel output in Feb '20 against the previous month.
News ID: 8715 Publish Date : 2020/03/12
Indian Silico Manganese prices remained unchanged owing to the dull steel market conditions. The selling pressure is quite intense in the domestic market. Meanwhile, prices in the export market also softened amidst currency fluctuations and the spread of deadly Coronavirus.
News ID: 8710 Publish Date : 2020/03/12
Gold prices are caught in a tug-of-war between acting as a safe haven and meeting liquidity needs. Still, expectations for further loosening of global monetary policy are likely to underpin the metal in the longer term, said Standard Chartered Thursday.
News ID: 8692 Publish Date : 2020/03/12
Gold prices are sharply lower and have fallen below psychological support at $1,600, falling victim to the old trading adage, “when you can’t sell what you want, you sell what you can.”
News ID: 8690 Publish Date : 2020/03/12
Asian styrene monomer (SM) prices fell today to an 11-year low after a corresponding slump in crude futures.
News ID: 8657 Publish Date : 2020/03/09
The last two years have been a roller coaster ride for the Graphite electrodes manufacturers globally. The supply-side structural changes in China that took place in the latter half of 2017 required polluting GE units to shut down and subsequently created its shortage and increased prices.
News ID: 8625 Publish Date : 2020/03/05
The medium scale steel mills in Dhaka, Bangladesh have kept their rebar prices firm over average demand prevailing in local market, SteelMint learned from its credible sources.
News ID: 8622 Publish Date : 2020/03/05
This week HR plate prices were reported largely stable on weak demand prevailing in the domestic market. Market participants in trade segment shared that recent increase in prices by steel manufacturers didn’t passed on to retail market over limited inquiries. Buyers are postponing their purchases amid higher plate prices.
News ID: 8619 Publish Date : 2020/03/05
Turkish imported scrap prices have slightly moved down, in a recent deep-sea cargo concluded yesterday. Turkish market for imported scrap had remained silent for over 10 days since the last major booking, with buyers bidding considerably low levels to pull down the prices.
News ID: 8615 Publish Date : 2020/03/03
Iranian domestic billet prices have witnessed an acute drop this week. The billet prices have fallen by IRR 8,800/kg, W-o-W. As a result of this event, the country’s finished steel prices are also witnessing the drop.
News ID: 8614 Publish Date : 2020/03/03
Imported scrap offers to Pakistan have come down in the last few days, after continuous uptrend for more than 3 weeks. Recent bookings in other markets at lowered prices, including a deep sea cargo to Turkey and 3 bulk cargoes to Bangladesh, have pulled down offers, while container shortage situation has led to a reduction in the number of offers from most suppliers.
News ID: 8612 Publish Date : 2020/03/03
Indian Silico Manganese prices remain flat due to oversupply in the market. Durgapur market is the most adversely affected region as most of the Ferro Chrome producers in the region have shifted to Silico Manganese and the existing producers also operated at full capacity, which brought down the prices as the selling pressure intensified in the Durgapur area. This has also affected the Raipur market.
News ID: 8611 Publish Date : 2020/02/25
HRC import prices to India have come down sharply in a recent deal concluded, SteelMint learned from its close sources. A major South Korean steelmaker has concluded a deal for 10,000 MT HRC (SAE 1006 re rolling grade) with an Indian importer (steel manufacturer) at USD 500-503/MT CFR India for April shipments. The import booking is likely to arrive at Kandla port. The import price is lower by USD 20-22/MT against the last booking reported by SteelMint at USD 525/MT, CFR India in Jan'20.
News ID: 8609 Publish Date : 2020/02/25
Gold prices have quickly dropped from double-digit gains seen just a short while ago to double-digit losses in active trading late Friday morning.
News ID: 8595 Publish Date : 2020/03/06
Eastern China’s largest private ferrous scrap consumer and EAF steelmaker- Shagang Jiangsu Steel group has announced its first price cut in its scrap purchase price, after a gap of over 2 months since the last price revision on 9th Dec’19. For all major grades of domestic scrap, the company has lowered its purchase price by RMB 30/MT (USD 4) effective from today, 27th Feb’20
News ID: 8566 Publish Date : 2020/02/27
Domestic HR-Plate prices depicted mixed movements with a decline of INR 500/MT in the Mumbai market, however, exhibited stability in Delhi.
News ID: 8563 Publish Date : 2020/02/27
Japan’s leading EAF mini-mill, Tokyo Steel has lowered its scrap purchase price by JPY 500/MT (USD 5) at its Kyushu works, while keeping its bids unchanged for the other 4 plants, as per the latest price circular. The new prices for all grades shall be effective from tomorrow (28th Feb’20).
News ID: 8561 Publish Date : 2020/02/27
