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A government-decreed lockdown in India has resulted in closed factories and import and export markets stalled by a lack of workers for the transport and processing of goods.
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Global crude steel production rose 2.8% year on year in February, according to the Worldsteel Association (Worldsteel), with a strong performance from steel mills in China.
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South Africa’s andalusite producers are in the process of closing their mining operations in the country for three weeks in line with a government directive to contain the spread of novel coronavirus (2019-nCoV) in the country.
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Mining companies in South Africa are in emergency meetings after the country’s president ordered a three-week lockdown amid the spread of novel coronavirus (2019-nCov).
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While countries start to lock down their borders to prevent the spread of the novel coronavirus (2019-nCoV), mining companies are beginning to halt production, delay projects and withdraw staff.
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Vesuvius attributed a 4.9% drop in its 2019 revenues to £87.6 million ($112.9 million) and a 40.4% slump in profits to weak steel and foundry end-markets.
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Global crude steel production totaled 154.44 million tonnes in January, a year-on-year rise of 2.1%, according to the World Steel Association (Worldsteel).
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China’s steel industry has faced difficulties in production and sales since the first working day after the Lunar New Year holiday due to the novel coronavirus (2019-nCoV) outbreak, which has led to some 78,000 infections and close to 2,700 deaths in the country so far.
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View the Fastmarkets holiday pricing schedule for 2020 and 2021.
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The digitalization of global trade received another push this week, with the International Chamber of Commerce (ICC), the government of Singapore and industry participants signing an agreement to facilitate and accelerate the adoption of technologies in commerce at the World Economic Forum in Davos, Switzerland.
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Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year.
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Availability could have dropped slightly for 2019 after last year's strong production, while demand in main consuming markets has softened because of the weak performance across refractories.
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The approach of the International Maritime Organization’s (IMO) 2020 sulfur cap has sparked concern among international shipping companies, with many questioning how they will comply with the new regulation.
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Increasing output from China’s domestic steel industry has not brought strong demand for refractory materials, with prices under mounting pressure.
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The bearish phase of the commodity cycle and weak end-user markets will mean consumers of raw materials will only source only as much as they are sure to use in the short term.
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Demand for refractory and foundry equipment in Europe is sagging due to a "challenging market environment" in steel, Vesuvius says.
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The supply chains of refractory raw materials as well as finished products could be drastically affected by China’s economic performance and political stance, but refractories operators lament a lack of visibility for strategy planning.
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Key takeaways from the 62nd Colloquium on Refractories, held in Aachen, Germany, on September 25-26
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Refractories manufacturers and suppliers of raw materials alike see further bearish conditions affecting the whole industry in 2020, and expect market conditions to worsen further.
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The producer expects market uncertainty to continue in the second half of the year, potentially leading to more destocking from customers in the steel division, while the industrial and non-ferrous sectors performed better.
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The South African andalusite producer should restart operations over the coming week, after a hiatus of a month and some 6,000 tonnes of lost output.
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There is still no timeline for a resumption of andalusite production by the South African miner.
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Here is a selection of main takeaways from the GIFA and Metec trade show held in Dusseldorf, Germany, on June 25-29.
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The chief executive of major refractories producer RHI Magnesita says that consolidation in the industry is likely to continue.
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Planned reduction in steel output will continue to dampen demand in the coming months, sources at the Dusseldorf trade show said.
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South Africa's Andalusite Resources has halted the production of the refractory raw material after the exacerbation of financial difficulties, Fastmarkets understands.
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Mutares has added wire and steel rope maker TrefilUnion to its earlier acquisition of Aperam's French stainless welded tubes division.
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German steelmaker ThyssenKrupp is still open to consolidation in the European flat steel sector despite the European Commission's opposition to its proposed merger with Tata Steel's flat steel business in the region.
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The producer cited pressures on refractory raw material costs once the current phase of high stocks and falling prices, in markets such as magnesia, has passed.
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Fastmarkets IM is increasing the frequency of its andalusite price assessments to quarterly.
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Prices for two grades of bauxite have ticked downward, as has the price for white fused alumina, but brown fused alumina remained stable, with the market said to be mostly flat on limited activity.
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Fastmarkets IM has begun a consultation on its proposal to increase the frequency of its andalusite price assessments to quarterly.
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UK refractory material producer Vesuvius has bought a refractory products company in the United States to develop its presence in North America.
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The andalusite market remains buoyant on refractories demand and ongoing issues with alternative raw materials such as Chinese bauxite, but participants are hopeful the ripple effects of the 2017 shortage may finally be coming to an end.
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The company, which sees volatile market conditions continuing this year, will focus on cash generation and cost control to reduce business risk.
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Key takeaways from the 61st International Colloquium on Refractories, held September 25-26 in Aachen, Germany
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Most delegates seem to agree that prices for raw materials, including bauxite, alumina, magnesia and graphite, will continue at high levels with small fluctuations.
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Attendees discuss how market participants will secure supply for the coming year, and how prices are expected to perform going forward.
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Graphite, magnesia, alumina and silicon carbide are excluded from the list of China-origin materials subject to a new US tariff, as are antimony, rare earths and barite. Pigments such as titanium dioxide will also be subject to the duty, as will refractory finished products, some ceramic minerals such as kaolin, and lithium.
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Many major minerals could be affected if the US goes ahead with a plan to raise the import tariff on China-origin materials as the trade war between the two countries gathers pace.
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The refractories maker posted rises in sales and volumes to both industrial and steel end markets, and is investing in raw material assets and optimization of production lines.
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The Trump administration has asked its trade authorities to consider a 25% import duty rate on Chinese minerals rather than the 10% rate it officially proposed in July.
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The refractories producer managed to offset the rise in raw material costs while it achieved higher turnover and profits.
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Strong demand for refractories from both steelmaking and industrial customers supported business in the first quarter and helped offset higher prices in mineral raw materials.
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IM's monthly price movements.
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Shanxi is gearing up to clamp down on illegal bauxite mining while it maintains its focus on improving local environmental conditions. But the sector fears an impact to supply flows.
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Imerys has made a number of changes to its management board, with Gilles Michel appointed to chairman of the board while the role of chief executive officer will go to ex-AkzoNobel head of performance coatings, Conrad Keijzer.
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Persisting market tightness leads to higher andalusite prices in 2018; Extension of consultation period regarding proposal to discontinue kyanite prices; Extension of consultation period regarding olivine price
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IM's monthly price movements.
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Contract prices for andalusite have edged up by about 10% from last year’s levels, with widespread consumer demand further compounding limited availability of material.
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