South32’s decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options.
The United States’ reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week.
A recent call from the China Tungsten Industry Association for its members to continue to tightly control capacity and cut tungsten concentrate output by a further 10% this year has not yet had a positive effect on Chinese spot prices.
The Chinese domestic cobalt sulfate price hit a fresh low for 2019 mid-week amid persistent selling pressure among producers who are mostly struggling to break even, sources said.
In people moves, Acerinox chief executive officer Bernardo Velázquez has been elected chairman of the International Stainless Steel Forum for a two-year period until 2021, the Spain-based stainless steel producer said on Thursday May 23. Finnish stainless steelmaker Outokumpu said on May 23 that it appointed Olli-Matti Saksi the head of its Americas business with immediate effect. And the Bureau of International Recycling elected Chiho Environmental Group chief operating officer Tom Bird president of the association at its General Assembly at the BIR World Recycling Convention & Exhibition in Singapore on May 21.
Here are five Fastmarkets MB stories you might have missed on Thursday May 23 that are worth another look.