Base Metal Stock Articles

DAILY STEEL SCRAP: Turkish mills seek lower prices amid weak steel demand

January 27, 2021 / Staff reporter

Turkish steel mills continued to stay away from the deep-sea scrap import market, on continuing poor demand for steel billet and finished long steel, sources told Fastmarkets on Tuesday January 26.Steel producers in Turkey have been quiet in the deep-sea markets since last week and have been seeking lower prices.The most recent transaction was heard on Wednesday January 20 at $440 per tonne c...Read More

Russia mulls new steel scrap export restrictions to protect domestic construction sector

January 27, 2021 / Staff reporter

The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned. The Ministry of Industry and Trade of the Russian Federation (Minpromtorg) might further limit scrap exports from the country. New trade remedies, such as quotas or even export bans, could be applied, deputy ministe...Read More

GULF STEEL BILLET, REBAR: Market slow on expectation of price cuts

January 27, 2021 / Staff reporter

Demand for steel rebar and billet in the United Arab Emirates was slow this week because buyers expected prices to fall, while producers kept their prices unchanged, sources told Fastmarkets on Tuesday January 26.Billet imports were likely to remain slow until local producers gave discounts, sources added.Domestic rebarSince Janaury 13, the country's steel producers have been offering rebar at 2,5...Read More

CIS STEEL SLAB: Both sides of market await further clarity amid downstream volatility

January 27, 2021 / Staff reporter

There was a stalemate in the export slab market in the Commonwealth of Independent States region in the week ended Monday January 25, with mills holding back offers and inviting customers to place bids while most customers were awaiting clearer direction. Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $635-640 per tonne on Monday, down from $675-695 per to...Read More

Russia mulls new steel scrap export restrictions to protect domestic construction sector

January 27, 2021 / Staff reporter

The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned. The Ministry of Industry and Trade of the Russian Federation (Minpromtorg) might further limit scrap exports from the country. New trade remedies, such as quotas or even export bans, could be applied, deputy ministe...Read More

EU member states ask EC to extend safeguard measures on steel imports

January 27, 2021 / Staff reporter

A dozen EU member states have called on the European Commission to extend the safeguard measures on steel imports that are due to expire on June 30 this year, according to a letter seen by Fastmarkets on Tuesday January 26.The letter, dated January 14,  was signed by the governments of 12 countries: Italy, Germany, France, Slovakia, Luxembourg, Finland, Hungary, Poland, Spain, the Czech...Read More

IN CASE YOU MISSED IT: 5 key stories from January 25

January 27, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Monday January 25 that are worth another look.The London Metal Exchange will launch its new cash-settled lithium futures contract on June 14, 2021, settled against Fastmarkets' price assessment for lithium hydroxide monohydrate.Liberty Steel Group has completed...Read More

Liberty submits firm bid on Thyssenkrupp's steel business

January 27, 2021 / Staff reporter

Liberty Steel Group has completed "due diligence" on Thyssenkrupp Steel Europe and submitted a "firmed up" bid for its acquisition based on the results, the UK-based steel company told Fastmarkets on Monday January 25."On Monday January 25, 2021, Liberty Steel submitted a firmed-up bid for Thyssenkrupp Steel Europe based on the results of the comprehensive due diligence process including multiple...Read More

IN CASE YOU MISSED IT: 5 key stories from January 26

January 27, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday January 26 that are worth another look.The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned.A global shortage...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 26/01

January 27, 2021 / Staff reporter

A summary of base metals premiums from across the globe for the week to Tuesday January 26.Please click...Read More

Mexican ferrous scrap prices edge up; first signs of price cuts appear

January 27, 2021 / Staff reporter

Ferrous scrap prices in Mexico have held steady or moved up marginally week on week, but market participants indicated that prices may have peaked, noting growing talk of price cuts.Fastmarkets' price assessments edged up in the country's central Baj?-o region. Some market participants reported that consumers applied increases, which had been announced in the week to January 15, to their buying pr...Read More

EU member states ask EC to extend safeguard measures on steel imports

January 27, 2021 / Staff reporter

A dozen EU member states have called on the European Commission to extend the safeguard measures on steel imports that are due to expire on June 30 this year, according to a letter seen by Fastmarkets on Tuesday January 26.The letter, dated January 14,  was signed by the governments of 12 countries: Italy, Germany, France, Slovakia, Luxembourg, Finland, Hungary, Poland, Spain, the Czech...Read More

IN CASE YOU MISSED IT: 5 key stories from January 26

January 27, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday January 26 that are worth another look.The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned.A global shortage...Read More

FOCUS: Stock decline, Covid-19 supply issues put tin spreads in widest back since '09

January 27, 2021 / Staff reporter

The cash price for tin and its benchmark spread are receiving a boost from a short-term lack of supply on the London Metal Exchange, the question is when and how stocks on the exchange will return?The LME cash contract was at $23,120 per tonne on January 26 and traded nearly $300 above its three-month delivery counterpart, which went as high as $22,740 per tonne the same day, with both prices at n...Read More

FOCUS: Australia, Peru copper supply gap leaves Chinese smelters short of options

January 27, 2021 / Staff reporter

China's ban on Australian mined copper import and a lingering Peruvian mine disruption have gone against its smelting industry's original ambition to produce more copper, Fastmarkets understands.China has been engaged in an escalating trade row with Australia of late, with Chinese copper smelters and traders verbally ordered to avoid buying Australian copper concentrate in early November 2020. The...Read More

FOCUS: China's record cobalt metal imports signal risk management drive

January 27, 2021 / Staff reporter

A sharp increase in China's cobalt metal imports last year was a consequence of refineries' efforts to hedge against tightening upstream supply, and trader moves to lock in profits during times of a favorable import arbitrage, market participants told Fastmarkets. And these participants expect imports to remain elevated in 2021.A total of 6,192 tonnes of cobalt metal was shipped to China over the...Read More

LIVE FUTURES REPORT 26/01: LME tin price nears $23,000/t, lead rises by 1.5%

January 27, 2021 / Staff reporter

Tin and lead's forward prices on the London Metal Exchange continued their advances, with rises of over 1.5% on Tuesday January 26 and tin nearing the $23,000 per tonne mark, supported by falling stocks and a lower dollar index. Tin's price reached yet another new year-to-date high during trading of $22,900 per tonne on Tuesday, nearing the July 9, 2014 intraday high of $22,950 per tonne. The met...Read More

FOCUS: Stock decline, Covid-19 supply issues put tin spreads in widest back since '09

January 27, 2021 / Staff reporter

The cash price for tin and its benchmark spread are receiving a boost from a short-term lack of supply on the London Metal Exchange, the question is when and how stocks on the exchange will return?The LME cash contract was at $23,120 per tonne on January 26 and traded nearly $300 above its three-month delivery counterpart, which went as high as $22,740 per tonne the same day, with both prices at n...Read More

IRON ORE DAILY: Prices down amid weak demand, Chinese plans to cut crude steel production

January 27, 2021 / Staff reporter

Iron ore prices fell on Tuesday January 26, due to weakening demand generally and in response to China's announcement about its plans to cut crude steel production in 2021 as part of its 14th Five-year Plan. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $165.07 per tonne, down $4.09 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.19 per tonne, down $3.94 per tonne58% Fe fi...Read More

LIVE FUTURES REPORT 26/01: LME tin price nears $23,000/t, lead rises by 1.5%

January 27, 2021 / Staff reporter

Tin and lead's forward prices on the London Metal Exchange continued their advances, with rises of over 1.5% on Tuesday January 26 and tin nearing the $23,000 per tonne mark, supported by falling stocks and a lower dollar index. Tin's price reached yet another new year-to-date high during trading of $22,900 per tonne on Tuesday, nearing the July 9, 2014 intraday high of $22,950 per tonne. The met...Read More

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