Base Metal Stock Articles

Volkswagen to take 10-day halt at Brazilian plants amid chip shortage

June 02, 2021 / Staff reporter

German carmaker Volkswagen will halt production at two sites in Brazil for 10 days due to the global semiconductor chip shortage, the company told Fastmarkets on Tuesday June 1.Units in S??o Jos?(C) dos Pinhais, a city in the southern state of Paran??, and in Taubat?(C), in the southeastern state of S??o Paulo, will cease activities for a 10-day period starting on June 7, the company said."A signi...Read More

ENERGY TRANSITIONS: The complex path to net zero

June 02, 2021 / Staff reporter

Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More

G7 criticizes subsidies driving overcapacity in steel, aluminium

June 02, 2021 / Staff reporter

Leaders of the Group of Seven (G7) countries have reaffirmed their commitment to fair trade and criticized the use of subsidies that create excess capacity, including in steel and aluminium.In a joint statement issued at the virtual G7 Trade Track meeting on May 28, the governments of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States called for the start of talks to d...Read More

Basic oxygen furnaces could be exempt from Tangshan's emission curbs

June 02, 2021 / Staff reporter

The municipal government of Tangshan - China's steelmaking hub in the northern region - has suggested that basic oxygen furnaces no longer come under production restrictions due to the low level of pollutants that they emit.In a notice released late on Monday May 31, it also suggested a relaxation of the rates of emissions cuts by steel mills in the city to 20-30% from the more stringent 30-50% cu...Read More

IN CASE YOU MISSED IT: 5 key stories from June 1

June 02, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday June 1 that are worth another look.Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."German carmaker Volkswagen will halt...Read More

BIR 2021: Proposed European scrap export restrictions to be revealed; industry to step up lobbying

June 02, 2021 / Staff reporter

The first proposed draft on scrap shipment regulation revisions in Europe will come out in a few weeks, with more restrictions on the free flow of secondary metal raw materials expected, panelists said at the Bureau of International Recycling (BIR) Convention, which started on Monday May 31.The biggest point of uncertainty is whether the European Commission (EC) will stop the export of both unproc...Read More

ENERGY TRANSITIONS: The complex path to net zero

June 02, 2021 / Staff reporter

Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More

NEWSBREAK: MJP aluminium Q3 deals conclude at $185 per tonne

June 02, 2021 / Staff reporter

The first deals for the supply of aluminium to main Japanese ports (MJP) for the third quarter have been concluded at a premium of $185 per tonne cif MJP, market sources told Fastmarkets on Tuesday June 1.Fastmarkets understands that the deals were between producers and traders, although tonnages had yet to be confirmed at the time of publication.The initial deals were more than double the first d...Read More

IN CASE YOU MISSED IT: 5 key stories from June 1

June 02, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday June 1 that are worth another look.Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."German carmaker Volkswagen will halt...Read More

LIVE FUTURES REPORT 01/06: LME lead up 1%, other metals steady from end-May highs

June 02, 2021 / Staff reporter

London Metal Exchange prices were mostly unchanged on the first trading day of this month, but maintained the bullish tone they struck at the end of May at the close on Tuesday June 1, given a release of positive economic data."A short-lived pullback seen in the base-metals complex suggests that underlying sentiment remains very bullish, with dip buyers welcoming lower prices with open arms," Fast...Read More

COKING COAL DAILY: Seaborne cfr prices surge on Monday with new deal heard [CORRECTED]

June 02, 2021 / Staff reporter

The seaborne premium hard coking coal price in the cfr market jumped on Monday May 31, with a deal heard done at $275 per tonne cfr China, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.89 per tonne, up $1.09 per tonnePremium hard coking coal, cfr Jingtang: $284.65 per tonne, up $21.19 per tonneHard coking coal, fob DBCT: $129.95 per tonne, unchangedHard cokin...Read More

COKING COAL DAILY: Seaborne hard coking coal prices up; China coke faces price cuts

June 02, 2021 / Staff reporter

Seaborne hard coking coal prices increased on Tuesday June 1 following Monday's jump in the premium hard coking coal cfr price and with support from a lack of spot volumes. And sources said that major mills in east China have proposed a first round of coke price cuts this year by 120 yuan ($19) per tonne.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.44 per tonne, down by $0.45 per to...Read More

RESEARCH: Ferro-alloy prices to maintain momentum into June, through H2 2021

June 02, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More

RESEARCH: Tighter trade policy likely to raise global floor for stainless steel prices

June 02, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More

CIS LONG STEEL EXPORT: Prices slide after drop in Turkey, China market

June 02, 2021 / Staff reporter

Commonwealth of Independent States-based (CIS) rebar and wire rod exporters had to revise their prices significantly downward over the assessment week following the drop in prices in the Turkish and Chinese markets, sources said.Stronger state control over speculation in the domestic market in China have sent rebar futures and physical prices down since mid-May. After a proposal from local authori...Read More

RUSSIA REBAR: Prices firm on strong end-use sector, short supply

June 02, 2021 / Staff reporter

The price of steel rebar in Russia's Central Federal District around Moscow was broadly stable in the week to June 1, backed by solid demand from end-users as well as tight availability, sources told Fastmarkets.Severstal was offering June-delivery rebar at 75,000 roubles ($1,022) per tonne, sources said, the same as last week.Several sources said that Tula Steel, another major supplier, was offer...Read More

LIVE FUTURES REPORT 01/06: LME lead up 1%, other metals steady from end-May highs

June 02, 2021 / Staff reporter

London Metal Exchange prices were mostly unchanged on the first trading day of this month, but maintained the bullish tone they struck at the end of May at the close on Tuesday June 1, given a release of positive economic data."A short-lived pullback seen in the base-metals complex suggests that underlying sentiment remains very bullish, with dip buyers welcoming lower prices with open arms," Fast...Read More

CIS STEEL SLAB: Prices soften amid limited demand, falling flat steel costs

June 02, 2021 / Staff reporter

Steel slab prices from the Commonwealth of Independent States region showed some signs of softening in the week to Tuesday June 1, despite the fact that mills have not been active in the market."It is too early. [According to what I have heard,] they will not make any offer before June 10," one trader said.A producer from Russia said that it was not offering any material at the moment, but if it w...Read More

Sudbury nickel mine operations disrupted, Vale says

June 02, 2021 / Staff reporter

Operations at one of Vale's largest nickel mines - located in Sudbury, Ontario - will be disrupted following a partial impasse in negations with the United Steelworkers (USW) union, the Brazilian miner said on Tuesday June 1."United Steelworkers (USW) Local 6500, representing production and maintenance employees in Sudbury, voted to reject the company's offer of a new five-year collective bargaini...Read More

AMAG ships first ASI chain-of-custody aluminium to carmaker Audi

June 02, 2021 / Staff reporter

Austria Metall AG (AMAG), a producer of aluminium cast and flat rolled material has shipped its first aluminium certified under the Aluminium Stewardship Initiative (ASI) chain of custody standard, the company has said, with the customer being German carmaker Audi.The metal has been sent to the Audi plant in Neckarsulm, Germany, and will be used for the outer body sheet of the tailgate for the A6...Read More

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