Base Metal Stock Articles

FOCUS: Pessimistic outlook clouds iron ore pellets market

February 24, 2021 / Staff reporter

A bearish pall is emerging for the iron ore pellets market amid growing supply from Brazil and a shift in demand toward fines with the expected easing of sintering restrictions in China. Improved demand for finesChinese steelmakers will likely increase their consumption of iron ore fines once the winter heating season in China ends. Sintering restrictions imposed at the start of the heating season...Read More

LIVE FUTURES REPORT 23/02: Nickel down 3.8% from $20,110/t high; copper firm above $9,200/t at close

February 24, 2021 / Staff reporter

Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.Nickel's three-month price, which reached $20,110 per tonne on Monday - the mosthighest level since May 2014 - was under selling pressure on Tuesday and fel...Read More

IRON ORE DAILY: Positive short-term demand likely to limit any further falls after dip in seaborne prices

February 24, 2021 / Staff reporter

Iron ore prices went into reverse on Tuesday February 23 amid a correction after the surge on Monday, sources told Fastmarkets, but robust demand means prices should not fall much further.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.05 per tonne, down $2.91 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.52 per tonne, down $2.46 per tonne58% Fe fines high-grade premium, cfr Qi...Read More

COKING COAL DAILY: Seaborne premium prices fluctuate amid uncertainty

February 24, 2021 / Staff reporter

Seaborne premium hard coking coal prices in both the fob and cfr markets fluctuated on Tuesday February 23, while most market participants, uncertain where prices will go, adopted a wait-and-see attitude, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.78 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $220.28 per tonne, down $3.11 per tonne Hard cokin...Read More

RESEARCH: Seamless OCTG, linepipe prices static in China but rise elsewhere

February 24, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese export prices for seamless oil country tubular goods (OCTG) and linepipe barely moved in February 2021, after rallying in January, because the holidays to celebrate the Lunar New Year curbed market activity sharply.With the holiday now ended, we have seen some sharp jumps in round billet prices and we expect there to...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 23/02

February 24, 2021 / Staff reporter

A summary of base metals premiums from across the globe for the week to Tuesday February 23.Read More

GLOBAL CHROME SNAPSHOT: China production restrictions support domestic ferro-chrome prices

February 24, 2021 / Staff reporter

An overview of the chrome ore and alloy markets on Tuesday February 23 and their latest price moves.China The domestic spot ferro-chrome market resumed its upward momentum after the Lunar New Year holiday (February 11-17). Inner Mongolia's continuing restrictions on ferro-alloy production means there is a supply shortage, which is feeding the bullish sentiment Many market participants anticipated...Read More

LIVE FUTURES REPORT 23/02: Nickel down 3.8% from $20,110/t high; copper firm above $9,200/t at close

February 24, 2021 / Staff reporter

Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.Nickel's three-month price, which reached $20,110 per tonne on Monday - the mosthighest level since May 2014 - was under selling pressure on Tuesday and fel...Read More

Industry association VDM slams LME discussion paper proposals

February 24, 2021 / Staff reporter

Industry association Verband Deutscher Metallh??ndler (VDM) has slammed proposals by the London Metal Exchange to close its open-outcry trading floor, increases fees and change its margin methodology, saying that these moves would contradict the LME's core mission to serve the physical metals markets and could lead to the elimination of the exchange's dates structure.The organization represents ar...Read More

China's Jan auto output gain bolsters metal raw materials prices

February 24, 2021 / Staff reporter

China's auto output and sales gained year on year in January due to the government's continuous efforts to control the Covid-19 pandemic, which helped support the prices of metal raw materials, Fastmarkets understands.The country produced 2.388 million units of vehicles in January, up by 34.6% from a year ago, China Association of Automobile Manufacturers (CAAM) data shows.China's automotive sales...Read More

AT A GLANCE: AWAC hits record alumina production in 2020; low prices affect profit

February 24, 2021 / Staff reporter

A summary of Alumina Ltd's full-year 2020 results for the period ending on December 31, 2020.The results also include the 2020 results for Alcoa World Alumina & Chemicals (AWAC), 40%-owned by Alumina Ltd and 60% owned by Alcoa.In brief Alumina Ltd recorded a net profit after tax of $146.6 million for 2020, compared with $214 million in 2019. Excluding significant items, net profit would have been...Read More

LIVE FUTURES REPORT 23/02: Copper continues upsurge, nickel falls below $19,500/t

February 24, 2021 / Staff reporter

For a fourth trading day in a row, copper's three-month price on the London metal Exchange rose to a new year-to-date high on Tuesday February 23, while the rest of the base metals traded slightly lower than where they were on Monday, when they all reached fresh 2021 highs. The red metal's high of $9,305 per tonne this morning is the most since early August 2011, nevertheless copper retreated to $...Read More

Low demand causes MJP aluminium stocks to drop 9.7% y-o-y in Jan

February 24, 2021 / Staff reporter

Total primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama fell by 9.7% year on year at the end of January, data from Japanese trading house Marubeni on Monday February 22 shows.Aluminium stocks at the three ports totaled 275,500 tonnes as of January 31, down by 29,700 tonnes from 305,200 tonnes a year earlier, according to the data.The year-on-year decline...Read More

EU decides to skip preliminary anti-subsidy duties on Turkish HRC, investigation continues

February 24, 2021 / Staff reporter

The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.The investigation, however, will continue, the EC said on February 18.The investigation was started in June 2020, following a complaint lodged by the European steel association Eurofer.Provisional measures in the anti-subsidy case were scheduled to be set by March 12, 2...Read More

EUROPE HRC: Domestic price stable at high level on strong demand, low material

February 24, 2021 / Staff reporter

The domestic hot-rolled coil price in Northern Europe remained fairly stable on Tuesday February 23 on support from good demand and short supply, sources said.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?726 ($881.07) per tonne on Tuesday February 23, up by ?,?1 per tonne from ?,?725 per tonne on February 22. The index was down by ?,?1.50 p...Read More

GULF FLAT STEEL IMPORTS: Prices mostly stable, HRC booked from India

February 24, 2021 / Staff reporter

Flat steel import prices were mostly unchanged, with hot-rolled coil (HRC) bookings made from India to the United Arab Emirates and Saudi Arabia during the week, sources told Fastmarkets on Tuesday February 23.Despite prices remaining mostly stable, market participants expect price increases because of the recent rises in global markets.Fastmarkets' weekly price assessment for steel HRC, export, f...Read More

GULF STEEL BILLET, REBAR: Market quiet ahead of expected price rises

February 24, 2021 / Staff reporter

The steel billet and rebar markets in the United Arab Emirates remained quiet in the week to Tuesday, February 23, with buyers expecting prices to increase, sources told Fastmarkets."If the prices will increase is not the question," a trader said, "[but rather] by how much will prices increase?" Rebar producers in the UAE are expected to announce new prices soon and buyers have been in wait-a...Read More

CIS STEEL BILLET: Fresh sales to Turkey push prices upward

February 24, 2021 / Staff reporter

Export prices for steel billet from the Commonwealth of Independent States surged on Tuesday February 23, with several cargoes sold at higher prices to Turkey.Turkish customers accepted price increases for billet because of the continuing uptrend in the sector, based on import scrap and local billet prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turk...Read More

DAILY STEEL SCRAP: Prices firmer on higher freight costs, strong demand

February 24, 2021 / Staff reporter

Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More

AT A GLANCE: CSN posts record Q4 earnings on steel, iron ore performance

February 24, 2021 / Staff reporter

A summary of production figures and financial results from Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) for the fourth quarter and full-year 2020, as stated in its earnings report published on Monday February 22.In brief Power shortages and the stoppage of the No2 blast furnace at the Presidente Vargas mill (UPV) until mid-November drove slab output down during the fourth quarter. Sl...Read More

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