Base Metal Stock Articles

Lithium Americas to start production at Argentina's Cauchari-Olaroz site in mid-2022

March 03, 2021 / Staff reporter

Junior miner Lithium Americas will start production of lithium at its Cauchari-Olaroz site in north-west Argentina in mid-2022, it announced on Tuesday March 2.The junior miner is moving ahead with the Argentinian lithium project in partnership with China's Gangfeng Lithium."Based on the latest construction schedule, which assumes a reduced workforce at site in accordance with Covid-19 protocols,...Read More

CIS FLAT STEEL: Market up on further sales, supplier bullishness

March 03, 2021 / Staff reporter

The export market for steel hot-rolled coil from the Commonwealth of Independent States (CIS) improved during the week to Monday March 1 on new sales to Turkey and bullishness among suppliers.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS, was $725-735 per tonne on Monday, up from $705-725 per tonne a week earlier.One Russia-origin cargo was sold to Turkey at $760 p...Read More

ArcelorMittal raises European long steel prices by $35-48 per tonne - sources

March 03, 2021 / Staff reporter

ArcelorMittal has raised its European long steel product prices by a minimum of ?,?30-40 ($35-48) per tonne, market sources told Fastmarkets on Tuesday March 2.The price increases relate to mesh-quality wire rod, beams and rebar and came into effect on Friday February 26...Read More

GULF STEEL BILLET, REBAR: Import rebar prices dip after local price cuts, deals heard

March 03, 2021 / Staff reporter

Imported steel rebar prices to the United Arab Emirates decreased this week amid new deals, after the price reduction from local rebar producers, sources told Fastmarkets on March 2.The country's biggest steel producer Emirates Steel has been offering rebar at 2,535 dirhams ($690) per tonne ex-works since February 24 and Conares Steel is offering rebar at 2,530 dirhams per tonne ex-works.Hamriyah...Read More

CHINA REBAR: Spot market gets support from higher ex-works prices

March 03, 2021 / Staff reporter

China's domestic rebar market stabilized on Tuesday March 2 following the issuance of higher list prices and a strengthening of futures contracts. DomesticEastern China (Shanghai): 4,610-4,650 yuan ($713-719) per tonne, unchangedShagang, a major rebar producer in eastern, China raised its ex-works prices for rebar by 150 yuan per tonne to 4,850 yuan per tonne including value-added tax. This prices...Read More

Widespread fall in Mexican steel scrap prices, regional gap widens

March 03, 2021 / Staff reporter

Prices for steel scrap in the principal Mexican markets decreased sharply in the week ended Friday February 26, amid increases in inventories and a wider gap between prices in the various regions.Fastmarkets' weekly steel scrap assessments for Mexico fell sharply in nine grades, with a number of steel producers reducing prices in all regions, and also reflecting price cuts announced recently but t...Read More

ArcelorMittal raises European long steel prices by $35-48 per tonne - sources

March 03, 2021 / Staff reporter

ArcelorMittal has raised its European long steel product prices by a minimum of ?,?30-40 ($35-48) per tonne, market sources told Fastmarkets on Tuesday March 2.The price increases relate to mesh-quality wire rod, beams and rebar and came into effect on Friday February 26...Read More

DAILY STEEL SCRAP: Turkish steelmakers pushing for higher steel prices before resuming scrap purchases

March 03, 2021 / Staff reporter

Turkish steel mills stayed out of the deep-sea scrap markets again on Tuesday March 2, focusing instead on raising steel prices following the latest surge in scrap values, market sources told Fastmarkets.The latest transaction was recorded late on Friday February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20).The transaction raised the dai...Read More

PRICING NOTICE: Further extension of consultation on proposed amendments to Southeast Asia steel billet price

March 03, 2021 / Staff reporter

Following extensive market engagement, Fastmarkets is again extending the consultation period for amendments to the specification of its daily price for steel billet, import, cfr Southeast Asia to provide additional time for market participants to submit feedback.After market feedback, Fastmarkets is extending the consultation period for its proposal to amend the MB-STE-0141-steel billet import, c...Read More

CIS STEEL SLAB: Higher prices achieved in sales to Italy [CORRECTED]

March 03, 2021 / Staff reporter

Prices in the CIS export steel slab market picked up in the week to Monday March 1 with bookings heard at higher prices in Italy. Higher costs for raw materials and raised prices for finished flat steel prices supported the uptrend in the slab sector.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $450.49 per tonne on March 1, down...Read More

Brazil iron ore exports up 10.9% in February after Vale boosts output

March 03, 2021 / Staff reporter

Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country's economy ministry on Monday March 1.Brazil exported 24.05 million tonnes of iron ore in February, up from 21.69 million tonnes in the same month last year, according to the ministry.Vale, the world's largest producer...Read More

TRADE CASE MONITOR: Around the world's steel markets in February 2021

March 03, 2021 / Staff reporter

As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in February 2021.The case list below includes only updates. For other continuing cases this year,...Read More

IN CASE YOU MISSED IT: 5 key stories from March 2

March 03, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday March 2 that are worth another look.The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 02/03

March 03, 2021 / Staff reporter

A summary of base metals premiums from across the globe for the week to Tuesday March 2.Please click on the thumbnail...Read More

Widespread fall in Mexican steel scrap prices, regional gap widens

March 03, 2021 / Staff reporter

Prices for steel scrap in the principal Mexican markets decreased sharply in the week ended Friday February 26, amid increases in inventories and a wider gap between prices in the various regions.Fastmarkets' weekly steel scrap assessments for Mexico fell sharply in nine grades, with a number of steel producers reducing prices in all regions, and also reflecting price cuts announced recently but t...Read More

LIVE FUTURES REPORT 02/03: Gains exceed 3.5% for LME aluminium, tin on lower US Dollar Index

March 03, 2021 / Staff reporter

Aluminium and tin showed the biggest increases at the close of trading on the London Metal Exchange on Tuesday March 2, with price support coming from a lower US Dollar Index.The dollar index went down, prompted by the advancement of a proposed $1.9 trillion Covid-19 relief package through the US Congress.Following the passing of the stimulus bill through the House of Representatives late last wee...Read More

IN CASE YOU MISSED IT: 5 key stories from March 2

March 03, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday March 2 that are worth another look.The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange...Read More

LIVE FUTURES REPORT 02/03: Gains exceed 3.5% for LME aluminium, tin on lower US Dollar Index

March 03, 2021 / Staff reporter

Aluminium and tin showed the biggest increases at the close of trading on the London Metal Exchange on Tuesday March 2, with price support coming from a lower US Dollar Index.The dollar index went down, prompted by the advancement of a proposed $1.9 trillion Covid-19 relief package through the US Congress.Following the passing of the stimulus bill through the House of Representatives late last wee...Read More

Objections on LME closing prices climb with ring shut, LME publishes new data

March 03, 2021 / Staff reporter

The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange on Tuesday March 2 shows.The exchange has published new data surrounding the number of objections, the volume in the pricing process and the number of participants involved while the debate around a permanent shift t...Read More

LIVE FUTURES REPORT 02/03: LME nickel drops 1%, tin above $23,500/t

March 03, 2021 / Staff reporter

Base metals prices on the London Metal Exchange were in consolidation mode on Tuesday March 2, with tin declining slightly following a near 9% dive on Monday and nickel decreasing by 1%, amid a stronger US Dollar Index, which is at its highest since the first week of February.The three-month tin price increased to $23,520 per tonne at 9am on Tuesday, following its 8.6% slump at Monday's close to $...Read More

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