Base Metal Stock Articles

IN CASE YOU MISSED IT: 5 key stories from February 9

February 10, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 9 that are worth another look.Australia's Port of Port Hedland shipped 4% more iron ore in January compared with a year earlier, though shipments were lower than those made in December, data from the Pilbara Ports...Read More

PEOPLE MOVES: HKEX hires JP Morgan's Aguzin as CEO after Li's retirement

February 10, 2021 / Staff reporter

Hong Kong Exchanges & Clearing Limited (HKEX) has appointed Alejandro Nicolas Aguzin as its new chief executive officer, effective May 24, 2021. Aguzin will serve a term of three years until May 23, 2024, subject to the approval of the Securities and Futures Commission. Aguzin will also become an ex-officio member of the HKEX board of directors on the same day. HKEX is the owner of the London Meta...Read More

LIVE FUTURES REPORT 09/02: LME copper, aluminium, nickel up on weaker dollar

February 10, 2021 / Staff reporter

Base-metal prices on the London Metal Exchange rose across the board on Tuesday February 9, with copper showing the most marked increase of 1.4%, given the continued fall of the US Dollar Index.Meanwhile, attention to the Chinese New Year holiday, February 11-17, seemed to be taking a back seat.The Dollar Index came to 90.55 on Tuesday at 5pm, having bottomed at 90.50 throughout trading, its lowes...Read More

COKING COAL DAILY: Seaborne prices flat on limited trading

February 10, 2021 / Staff reporter

The seaborne coking coal market was flat amid limited trading activity, sources told Fastmarkets on Tuesday February 9.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.04 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $217.23 per tonne, unchangedHard coking coal, fob DBCT: $133.57 per tonne, unchangedHard coking coal, cfr Jingtang: $203 per tonne, unchan...Read More

IRON ORE DAILY: Prices up amid positive demand expectation after Chinese New Year

February 10, 2021 / Staff reporter

Iron ore prices pushed up on Tuesday February 9, supported by the expectation of a positive outlook for demand after the Chinese New Year holiday, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.10 per tonne, up $3.60 per tonne62% Fe low-alumina fines, cfr Qingdao: $164.46 per tonne, up $3.66 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nb...Read More

RESEARCH: European steel prices move up, but mood is more cautious

February 10, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.The uptrend in European flat steel prices continued in January 2021 as expected, with the prices for hot-rolled coil in the North and South of the region averaging ?,?698 and ?,?686 ($840 and $826) per tonne respectively, within 1% of the Fastmarkets research forecasts.With European HRC prices climbing to their highest level...Read More

EUROPE HRC: Domestic prices stabilize at high level; buyers bearish

February 10, 2021 / Staff reporter

Domestic prices for hot-rolled coil across Europe were stable on Tuesday February 9, with buyers holding back from making new deals because they anticipate a decrease in prices, sources told Fastmarkets.Domestic prices for hot-rolled coil across Europe were stable on Tuesday February 9, buyers hold back from making new deals on anticipated price decrease, sources told Fastmarkets.Fastmarkets calcu...Read More

LIVE FUTURES REPORT 09/02: LME copper, aluminium, nickel up on weaker dollar

February 10, 2021 / Staff reporter

Base-metal prices on the London Metal Exchange rose across the board on Tuesday February 9, with copper showing the most marked increase of 1.4%, given the continued fall of the US Dollar Index.Meanwhile, attention to the Chinese New Year holiday, February 11-17, seemed to be taking a back seat.The Dollar Index came to 90.55 on Tuesday at 5pm, having bottomed at 90.50 throughout trading, its lowes...Read More

US P1020 aluminium premium up on potential Section 232 longevity

February 10, 2021 / Staff reporter

The United States Midwest aluminium premium rose to a nearly six-month high on Tuesday February 9, with market participants increasingly bullish amid expectations that the Section 232 tariffs will persist after US President Joe Biden showed a willingness to invoke those tariffs last week.The Midwest premium is now at its highest level since mid-August 2020.Fastmarkets assessed the aluminium P...Read More

INTERVIEW: Drive to low-carbon economy will support growth in aluminium, UC Rusal says

February 10, 2021 / Staff reporter

The global drive to a low-carbon economy will support new capacity growth, with aluminium and other industries restructuring and repositioning themselves, a senior executive at UC Rusal said.But whether this results in a premium or discount being paid for the material is not the key driver for this change, head of sales and marketing Roman Andryushin told Fastmarkets in an interview. "The supply s...Read More

INTERVIEW: China aluminium growth may fluctuate but won't contract, Rusal exec says

February 10, 2021 / Staff reporter

Growth in China, the world's largest consumer of aluminium, may fluctuate over the coming months but is not expected to contract, according to the head of sales and marketing at UC Rusal. Roman Andryushin said he shares concerns that there may be pauses in Chinese growth, especially in the second half of the year, as the country works to rebalance its economy and prevent overinflation. At the same...Read More

INTERVIEW: Rusal targets aluminium VAP sales of at least 50% in near future

February 10, 2021 / Staff reporter

UC Rusal is targeting sales of value-added products (VAP) to account for at least half of its total aluminium sales over the next 10 years, according to its head of sales and marketing. Roman Andryushin told Fastmarkets in an interview that the company may reach this sales level relatively soon and would then aim to boost the ratio even higher. "It's our priority for the next 10 years that we shou...Read More

Latest aluminium tender by South Korea's PPS awarded at lower premium

February 10, 2021 / Staff reporter

South Korea's Public Procurement Service (PPS) has awarded a 1,500-tonne aluminium tender at a premium of $119 per tonne, which is about 2.5% lower than the premium for its previous tender a week ago. The awardee was once again Glencore International, according to the notice published by the state agency on Tuesday February 9. Glencore was also awarded the tender from PPS last week...Read More

CIS STEEL BILLET: Market weakens further amid lower scrap costs, lack of demand

February 10, 2021 / Staff reporter

Lower scrap costs in Turkey, along with a lack of demand for semi-finished steel, were the major reasons for falling billet export prices in the Commonwealth of Independent States on Tuesday February 9, sources told Fastmarkets. Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was calculated at $527 per tonne on Tuesday, down from $538 per tonne on Monday. Several market sour...Read More

FERROUS ANALYTICS: Steel mills face cash crunch on soaring costs

February 10, 2021 / Staff reporter

Fastmarkets' Ferrous Analytics report helps subscribers...Read More

GULF FLAT STEEL IMPORTS: Saudi Arabian buyers expect prices to fall, UAE buyers wait

February 10, 2021 / Staff reporter

Buyers of flat steel in Saudi Arabia expected prices to decrease because of the current low demand, while buyers in the United Arab Emirates were waiting for next week to see the direction of price movement, sources told Fastmarkets on Tuesday February 9.China and India are the main flat steel exporters to the Gulf region. China will be on its national New Year holiday February 11-17, and no new p...Read More

GULF STEEL BILLET, REBAR: Uncertainty on rebar prices continues

February 10, 2021 / Staff reporter

The uncertainty about new domestic prices for steel rebar in the United Arab Emirates continued during the week ended Tuesday February 9, with trading subdued and no imports heard, sources told Fastmarkets.Rebar producers in the UAE were expected to announce new prices next week, most probably after the Chinese New Year holiday (February 11-17).Importers of billet and rebar preferred to wait until...Read More

CIS FLAT STEEL: HRC prices down on negative market sentiment

February 10, 2021 / Staff reporter

Export prices for steel hot-rolled coil from the Commonwealth of Independent States (CIS) softened further during the week to Monday February 8 on negative market sentiment and weak demand.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS, was $690-715 per tonne on Monday, down from $695-725 per tonne a week earlier.One supplier from Russia was heard to reduce its offe...Read More

DAILY STEEL SCRAP: Turkish market remains quiet, close to bottom

February 10, 2021 / Staff reporter

The Turkish deep-sea scrap import market remained quiet on the second working day of the week with no deep-sea bookings heard, market sources said on Tuesday February 9.The most recent bookings were heard on February 5 at $380 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20) and $387 per tonne cfr for UK material, sending the daily scrap indices down by around $15 per tonne...Read More

COKING COAL DAILY: Seaborne prices flat on limited trading

February 10, 2021 / Staff reporter

The seaborne coking coal market was flat amid limited trading activity, sources told Fastmarkets on Tuesday February 9.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.04 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $217.23 per tonne, unchangedHard coking coal, fob DBCT: $133.57 per tonne, unchangedHard coking coal, cfr Jingtang: $203 per tonne, unchan...Read More

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