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London Metal Exchange urges companies to participate in sanctions on Russia
The London Metal Exchange (LME) has ordered its companies to suspend payments to individuals/companies subject to sanctions against Russia on February 25, 2022. The U.S., U.K. and EU have announced additional sanctions against Russia. The LME would also impose...
ArcelorMittal raises HRC prices by $200/ton for March sales
ArcelorMittal Europe has announced a significant €180/ton ($200/ton) increase in hot rolled coil (HRC) prices for domestic sales beginning March 1, 22. Escalating geopolitical tension between Russia and Ukraine, rising energy costs and disruption to trade have pushed...
Steel: Metinvest declares force majeure on existing contracts
Ukrainian steel major Metinvest has declared force majeure due to Russia's invasion and entry into force of martial law, with military blockade of ports and threat of destruction of land infrastructure. The integrated steel major, which produces more than 40 mln...
Steel: prices in China break 2-week highs on Russia-Ukraine supply risks
Steel futures in China, the world's largest producer of the building material, rose to their highest in more than two weeks Wednesday on hopes that the Russia-Ukraine conflict will boost demand for Chinese steel abroad. Russia, which is facing an unprecedented wave of...