Base Metal Stock Articles

LIVE FUTURES 16/08: LME complex mixed; lead C/3m backwardation above $100/t

August 17, 2021 / Staff reporter

Prices on the London Metal Exchange were mixed at the close on Monday August 16, with only tin making a solid advance, while the rest of the metals were either down or around their Friday levels. Tin's three-month price was up to $35,680 per tonne on Monday, up 1% from last Friday's closing price of $35,680 per tonne. It reached its latest all-time high of $35,955 per tonne on Thursday of last wee...Read More

CHINA REBAR: Housing industry growth slows

August 17, 2021 / Staff reporter

Eastern China's domestic rebar price decreased slightly on Monday August 16 after the National Bureau of Statistics (NBS) released housing industry data for July.DomesticEastern China (Shanghai): 5,190-5,220 yuan ($801-806) per tonne, down by 10 yuan per tonneThe total area used for new housing construction totaled 1.19 billion square meters in January to July, down by 0.9% year on year, while the...Read More

Tech Talk for Tuesday August 17th 2021

17/08/2021 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US79.22 cents following release of July Canadian Housing Starts at 8:15 AM EDT. Consensus was a decline to 270,800 from upwardly revised 295,085 in June. Actual was 286,620.Index futures moved lower following release of the July Retail Sales...Read More

CIS LONG STEEL: Prices continue to slide amid competition with Turkish mills

August 17, 2021 / Staff reporter

Rebar and wire rod export prices from the Commonwealth of Independent States continued to decrease in the week ended Monday August 16, pressured by the downward trend in the Turkish market that was spurred by a lack of demand and lower costs for imported scrap.Scrap prices in Turkey declined at the beginning of this week due to the latest transaction.Thus, Fastmarkets' index for steel scrap,...Read More

EUROPE HRC: Domestic prices stable in slow market

August 17, 2021 / Staff reporter

Domestic hot-rolled coil prices were stable across Europe on Monday August 16, reflecting typically quiet market conditions over the summer, sources told Fastmarkets.Most of the region's buyers and producers have been holding back from trading during August; activity is not expected to pick up until early September, as is traditional.Fastmarkets calculated its steel hot-rolled coil index, domestic...Read More

Brazilian domestic flat steel prices stable as imports soar

August 17, 2021 / Staff reporter

Prices of flat steel coil products in the Brazilian spot market remained stable in August, with distributors finding it difficult to compete with a strong influx of imported material.High volumes of coil material arrived through July and continued into August, all booked at lower prices several months ago.Imports of flat steel reached 190,854 tonnes in July 2021, up by 141% from the 79,186 tonnes...Read More

DAILY STEEL SCRAP: Fresh Baltic Sea cargo confirms further decline in prices

August 17, 2021 / Staff reporter

Turkish steel producers started the week with a single deep-sea cargo, which further deepened the decrease in prices, market participants told Fastmarkets on Monday August 16.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 18,500 tonnes of HMS 1&2 (80:20) at $455 per tonne, along with 5,000 tonnes of shredded and 1,500 tonnes of bonus at $470 per tonne cfr.The previous cargo...Read More

Tech Talk for Monday August 16th 2021

16/08/2021 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening news.Index futures were virtually unchanged following release of the August Empire State Manufacturing Index at 8:30 AM EDT. Consensus was a drop to 30.00 from 43.00 in July. Actual was a drop to 18.3.Chipotle dropped $10.31 to $1,877.50 after Raymond James downgraded the stock from Strong Buy...Read More

Escondida's No1 workers' union confirms labor deal to avert strike

August 15, 2021 / Staff reporter

The No1 workers' union at the Escondida copper mine confirmed the signing of a labor deal with operating company BHP - averting a strike - and called it the best labor negotiations ever for the Chilean mining industry, according to an announcement on Friday August 13.Approval of the deal was almost unanimous after BHP improved its offer during government-led mediation."This negotiation will, no do...Read More

CHINA REBAR: Falling spot inventories support prices

August 15, 2021 / Staff reporter

Eastern China rebar prices held steady on Friday August 13 on tighter supply due to lower spot market inventories, but prices were down by 10 yuan per tonne week on week due to Thursday's fall.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,170-5,210 yuan per tonne, up by 60-70 yuan per tonneFalling spot market invento...Read More

STEEL SCRAP WRAP: Markets impacted by poor sentiment due to high freight rates, rising Covid-19 cases

August 15, 2021 / Staff reporter

Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.Turkish scrap prices fell amid weak downstream demandUnited States scrap exports were poor due to high freight costsWeak demand for imports in Vietnam due to Covid-19China abstains from purchasing due to large bid-offer sp...Read More

Escondida's No1 workers' union confirms labor deal to avert strike

August 15, 2021 / Staff reporter

The No1 workers' union at the Escondida copper mine confirmed the signing of a labor deal with operating company BHP - averting a strike - and called it the best labor negotiations ever for the Chilean mining industry, according to an announcement on Friday August 13.Approval of the deal was almost unanimous after BHP improved its offer during government-led mediation."This negotiation will, no do...Read More

ASIA HRC: FHS reduces offer, MMK maintains low offer

August 15, 2021 / Staff reporter

Spot prices for imported hot-rolled coil in Vietnam were stable in the week to Friday August 13 amid poor spot liquidity while major Vietnamese domestic producer Formosa Ha Tinh Steel Corporation (FHS) reduced its prices, sources said.South Korean traders continued to offer low prices for Russian HRC from Magnitogorsk Iron and Steel Works (MMK), including the remaining quantities of 15,000-20,000...Read More

Escondida's No1 workers' union confirms labor deal to avert strike

August 15, 2021 / Staff reporter

The No1 workers' union at the Escondida copper mine confirmed the signing of a labor deal with operating company BHP - averting a strike - and called it the best labor negotiations ever for the Chilean mining industry, according to an announcement on Friday August 13.Approval of the deal was almost unanimous after BHP improved its offer during government-led mediation."This negotiation will, no do...Read More

Southeast Asia steel billet markets rangebound on tepid demand

August 14, 2021 / Staff reporter

Demand for cargoes of steel billet has been low in key Southeast Asian markets over the past week with prices rangebound, sources told Fastmarkets on Friday August 13."The Southeast Asian markets are dead, there are no bids from Thailand, which has now become a billet exporter, and there is a very strict lockdown in the Philippines," a South Asian billet trader said."Philippine demand is in really...Read More

ALUMINIUM FOUNDRY WRAP: Premiums flat in Europe, US amid summer lull

August 14, 2021 / Staff reporter

Aluminium primary foundry alloy (PFA) premiums were unchanged this month in Europe and the United States, continuing to lag other value-added products such as billet.EuropeFastmarkets assessed the aluminium primary foundry alloy, silicon 7 ingot premium, ddp Germany at $510-550 per tonne on Friday August 13, flat from July 9. "The market has been really quiet this week. We are waiting until Septem...Read More

LIVE FUTURES 13/08: Lead curve tightens; aluminium closes above $2,600

August 14, 2021 / Staff reporter

Base metals prices on the London Metal Exchange were trading mostly higher at the close on Friday August 13, with copper, aluminium and lead all making gains.The three-month aluminium price closed at $2,600 per tonne, up from $2,582.50 per tonne. This was the first time it has closed above $2,600 per tonne since August 2.The price hit an intraday trading high of $2,622.50 per tonne, also the highe...Read More

LIVE FUTURES 13/08: Lead curve tightens; aluminium closes above $2,600

August 14, 2021 / Staff reporter

Base metals prices on the London Metal Exchange were trading mostly higher at the close on Friday August 13, with copper, aluminium and lead all making gains.The three-month aluminium price closed at $2,600 per tonne, up from $2,582.50 per tonne. This was the first time it has closed above $2,600 per tonne since August 2.The price hit an intraday trading high of $2,622.50 per tonne, also the highe...Read More

STEEL SCRAP WRAP: Markets impacted by poor sentiment due to high freight rates, rising Covid-19 cases

August 14, 2021 / Staff reporter

Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.Turkish scrap prices fell amid weak downstream demandUnited States scrap exports were poor due to high freight costsWeak demand for imports in Vietnam due to Covid-19China abstains from purchasing due to large bid-offer sp...Read More

Brazilian rebar price drop confirms signs of downturn

August 14, 2021 / Staff reporter

The domestic price for steel rebar in Brazil - which had not moved in three months - fell on Friday August 13 amid mill discounts, confirming lingering signs of a downturn.In Brazil, rebar supply recovered in 2021, and scrap prices started being cut. The global scenario lent headwinds to the Brazilian rebar price, with a downturn seen particularly in Turkey.Brazil-based steelmakers often follow in...Read More

Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok