Base Metal Stock Articles

IRON ORE DAILY: Prices largely stable amid weak demand outlooks

October 26, 2021 / Staff reporter

Seaborne iron ore prices were largely stable on Monday October 25, but market sentiment was weak due to poor iron ore and steel demand outlooks, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.08 per tonne,down $0.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.48 per tonne,down $0.41 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne,do...Read More

IN CASE YOU MISSED IT: 5 key stories from October 25

October 26, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More

PRICING NOTICE: Amendment to publication time of weekly India HMS scrap assessment

October 26, 2021 / Staff reporter

Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More

Bahrain Steel in 3-year deal to produce high-quality iron ore pellet for Anglo American

October 26, 2021 / Staff reporter

Bahrain Steel is to convert 2 million tonnes per year of iron ore from the Minas-Rio mine in Brazil into high-quality pellet for multinational mining company Anglo American.Under the three-year agreement, Anglo American will ship 2 million tpy of iron ore (pellet feed) from its Minas-Rio mine in...Read More

TURKEY DOMESTIC STEEL SCRAP: Rising import costs push up domestic prices

October 26, 2021 / Staff reporter

Turkish domestic scrap prices continued to rise over the past week amid rising imported scrap values, market sources told Fastmarkets on Monday October 25.And Turkish steelmakers continued their deep-sea scrap bookings from last week despite increasing prices.Steel producers in the country booked five deep-sea cargoes in the week to Friday October 22.In response to the upward movement in the impor...Read More

Ferroglobe restarts silicon production - trade sources

October 26, 2021 / Staff reporter

Spain-based ferro-alloys producer Ferroglobe has restarted one of the silicon metal furnaces at its Sabon plant in Galicia, with the company looking to take advantage of record high metals prices, sources in Europe told Fastmarkets.Only one furnace at the Sabon plant has been restarted, the sources said, after the company shut production there a few weeks ago due to a spike in power prices in Spai...Read More

MARBL Lithium to restart Wodgina lithium mine in Western Australia in Q3 2022

October 26, 2021 / Staff reporter

The MARBL Lithium joint venture will restart operations at its Wodgina lithium mine in the Pilbara region of Western Australia in the third quarter of 2022, JV partner Mineral Resources said on Monday October 25.MARBL is 40% owned by Australia's Mineral Resources and 60% owned by United States-listed lithium producer Albemarle.The Wodgina mine was previously put under care and maintenance in Novem...Read More

CIS LONG STEEL: Prices rise amid positive market sentiment

October 26, 2021 / Staff reporter

Export prices for reinforcing bar and wire rod originating from the Commonwealth of Independent States surged in the week to Monday October 25, supported by positive market conditions.Firstly, prices from competitive Turkish suppliers increased over the week, supported by growing import scrap and electricity costs in the country.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar...Read More

PRICING NOTICE: Amendment to publication time of weekly India HMS scrap assessment

October 26, 2021 / Staff reporter

Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More

IN CASE YOU MISSED IT: 5 key stories from October 25

October 26, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More

PRICING NOTICE: Amendment to publication time of weekly India HMS scrap assessment

October 26, 2021 / Staff reporter

Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More

Insteel logs record profitability for fiscal '21

October 26, 2021 / Staff reporter

Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More

LIVE FUTURES 25/10: Focus on fundamentals help LME copper prices shrug-off bearish China developments

October 26, 2021 / Staff reporter

Base metals on the London Metal Exchange closed the session higher on Monday October 25, but market participants expect further weakness in coming sessions.The three-month copper price led the base metals uptrend, closing at $9,867.50 per tonne, up 1.68% from the close of $9,704 per tonne on Friday October 22. Market participants continued to focus on dwindling copper stocks in LME sheds, wit...Read More

CHINA HRC: Prices stable amid thin trading

October 26, 2021 / Staff reporter

Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,550-5,600 yuan ($870-877) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Monday, finishing the day at 5,180 yuan per tonne, which...Read More

COKING COAL DAILY: Seaborne prices stable; Shanxi unveils winter production restrictions plan

October 26, 2021 / Staff reporter

Seaborne coking coal prices were relatively stable across the board on Monday October 25, with no transactions heard, sources told Fastmarkets - although some Chinese coke producers proposed price hikes and Shanxi province unveiled its winter restrictions plan.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $615.14 per tonne, down $0.26 per tonneHard coking coal, cfr Jingtang: $568.59 p...Read More

MANGANESE ORE ANALYTICS: October 25, 2021

October 26, 2021 / Staff reporter

The latest data for the global manganese ore market for the week ended Monday October 25.Read More

Thai aluminium billet market flat on sluggish demand recovery, elevated freight

October 26, 2021 / Staff reporter

A combination of hurdles to a recovery of demand, elevated freight rates and lower supply have capped premiums for aluminium billet in Thailand for the second time in three months.Buyers continue to report a shortage of supply from producers in the market, though few were actively negotiating for cargoes. Fastmarkets' monthly assessment of the aluminium 6063 extrusion billet premium, cif Thailand...Read More

IN CASE YOU MISSED IT: 5 key stories from October 25

October 26, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More

Weekly HRC recap: US hot-rolled coil index down for 3rd straight week

October 26, 2021 / Staff reporter

Sentiment in the US hot-rolled coil market has been mixed but continues to lean bearish, with prices again trending downward over the past week, backsliding to levels last seen in August.Fastmarkets' calculation of the daily steel hot-rolled coil index, fob mill US averaged $95.93 per hundredweight ($1,918.60 per short ton) during the week ended Friday October 22, down by 0.54% from $96.45 per cwt...Read More

NLMK US Q3 flat-rolled shipments up 59%

October 26, 2021 / Staff reporter

Russian steelmaker Novolipetsk's (NLMK) US steel assets performed well in the third quarter of 2021 on a combination of higher steel prices and stable demand."In the third quarter of 2021, average steel prices grew across all key sales markets. In the US, prices hit new highs," according to NLMK Group's chief financial officer Shamil Kurmashov. Flat-rolled steel selling prices in the US were...Read More

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