Base Metal Stock Articles

PRICING NOTICE: Proposal to amend Fastmarkets' methodology for Taiwan steel scrap price assessment

June 02, 2021 / Staff reporter

Fastmarkets invites feedback on its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 1, 2021, seeks to ensure that our methodology continues to reflect the physical market under the price as...Read More

Brazil's MVV finalizes construction of Serrote copper-gold project

June 02, 2021 / Staff reporter

Brazil-headquartered Minera????o Vale Verde (MVV) completed construction of the Serrote copper-gold project in the northeastern Alagoas state ahead of schedule and expects its first concentrate shipment to be made in November, its parent company Appian Capital Advisory said on Tuesday June 1.The mining company will ramp up production during the second half of the year aiming to ship high-grade cop...Read More

Trafigura bolsters claims as top trader in copper with swoop for Cliveden book

June 02, 2021 / Staff reporter

Trafigura has purchased a sizeable amount of rival merchant Cliveden's copper trading book, increasing what was already said to be the world's biggest copper trading book by volume.The relevant parties have been in discussions for weeks on a deal, which was tabled after Zug-based Cliveden contacted trading houses for assistance in financing copper concentrate cargoes, multiple sources confirmed.So...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

Turnagain nickel project in Canada has potential to be world's first carbon-neutral mine, exec says

June 02, 2021 / Staff reporter

Mineral sequestration could be used to develop the world's first-ever carbon-neutral nickel mine, according to the president of Giga Metals Corp, which is developing the Turnagain project in British Columbia, Canada.Martin Vydra said that its Turnagain project is on a path to achieving carbon neutrality without having to purchase carbon credits, according to test results conducted on mineralized m...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

EUROPE HRC WRAP: Shortage drives prices further up, but market wary of China price fall

June 02, 2021 / Staff reporter

Domestic prices for hot-rolled coil in the EU increased in the week to Friday May 28, supported by continuing coil shortages and good demand.The mood in the market, however, has changed due to a decline of prices in China.Sentiment in the European coil segment has turned from bullish to mixed, with buyers starting to believe that a recent price correction in China might put an end to the price ris...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

GULF STEEL BILLET, REBAR: Prices fall on global uncertainty

June 02, 2021 / Staff reporter

Prices for steel rebar and billet in the United Arab Emirates dropped in the week to Tuesday, June 1, due to uncertainty over long and semi-finished steel values in the global market, sources told Fastmarkets.Global long steel prices feel during the previous week after the Chinese government warned steel producers against high prices.Fastmarkets' weekly price assessment for steel reinforcing bar (...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

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

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

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 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

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

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

Turnagain nickel project in Canada has potential to be world's first carbon-neutral mine, exec says

June 02, 2021 / Staff reporter

Mineral sequestration could be used to develop the world's first-ever carbon-neutral nickel mine, according to the president of Giga Metals Corp, which is developing the Turnagain project in British Columbia, Canada.Martin Vydra said that its Turnagain project is on a path to achieving carbon neutrality without having to purchase carbon credits, according to test results conducted on mineralized m...Read More

Brazil's MVV finalizes construction of Serrote copper-gold project

June 02, 2021 / Staff reporter

Brazil-headquartered Minera????o Vale Verde (MVV) completed construction of the Serrote copper-gold project in the northeastern Alagoas state ahead of schedule and expects its first concentrate shipment to be made in November, its parent company Appian Capital Advisory said on Tuesday June 1.The mining company will ramp up production during the second half of the year aiming to ship high-grade cop...Read More

Trade log: Cobalt alloy grade, in-whs Rotterdam, $/lb

June 02, 2021 / Staff reporter

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More

Trade log: Cobalt standard grade, in-whs Rotterdam, $/lb

June 02, 2021 / Staff reporter

The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 20.00-20.50...Read More

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