Base Metal Stocks Articles

BHP seeks to increase iron ore export capacity

April 29, 2020 / Staff reporter

BHP is consulting with relevant stakeholders on options to increase its licensed iron ore export capacity to over 290 million tonnes per year from Hedland, the shipping hub in Western Australia, it told Fastmarkets on Tuesday April 28.Tim Day, BHP acting asset president for Western Australia iron ore, said BHP's focus remains on reaching 290 million tonnes per year in the medium term, but improvem...Read More

China increases flat steel exports in March, but long steel shipments fall

April 29, 2020 / Staff reporter

Chinese flat steel accounted for 63% of the 6.48 million tonnes of steel exported in March, with countries on short-sea routes the major buyers due to short delivery times and competitive prices. China's major steel  exportsFlat steel: 4.09 million tonnes, up by 8.5% year on yearSteel bar: 1.01 million tonnes, down 16.7%Angles and sections: 400,000 tonnes, up 36.1%Steel wire rod: 18...Read More

IN CASE YOU MISSED IT: 5 key stories from April 28

April 29, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday April 28 that are worth another look.Swedish special steel producer Ovako has used hydrogen to heat steel before rolling for the first time, the company announced on April 28.Over the past month, Chinese importers have been keen to buy overseas copper scrap at more competitive prices, with scrap production shrunk by the effects of...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 28/04

April 29, 2020 / Staff reporter

A summary of base metals premiums from across the globe for the week to Tuesday April 28.Please click...Read More

Rwanda allows some tantalum mines, exports to restart - sources

April 29, 2020 / Staff reporter

Rwanda has allowed some mines and exporters in the country to resume operations starting from Tuesday April 28, sources told Fastmarkets. Five of the 19 export organizations in the country in eastern Central Africa will be allowed to ship out material from today and 20 mines - including those producing tantalum, tungsten and tin - will be allowed to slowly resume operations. Ta...Read More

NORTHERN EUROPE HRC: Trading activity remains slow, prices edgedown

April 29, 2020 / Staff reporter

Domestic hot-rolled coil prices in Northern Europe moved down slightly day on day due to low demand, sources told Fastmarkets in Tuesday April 28.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?440.00 ($476.70) per tonne on Tuesday April 28, down by ?,?1 per tonne from ?,?441.00 per tonne on April 27.Tuesday's index was calculated based on official offers hear...Read More

IN CASE YOU MISSED IT: 5 key stories from April 28

April 29, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday April 28 that are worth another look.Swedish special steel producer Ovako has used hydrogen to heat steel before rolling for the first time, the company announced on April 28.Over the past month, Chinese importers have been keen to buy overseas copper scrap at more competitive prices, with scrap production shrunk by the effects of...Read More

FOCUS: Covid-19 throws global ferrous correlations into disarray

April 29, 2020 / Staff reporter

The impact of Covid-19 is undeniably huge. It continues to make its presence felt across all commodity markets, including the ferrous supply chain, from raw materials down to finished steel products. One significant impact that can be tracked closely through spot pricing is the increasing disarray in price correlations between various segments of the ferrous supply chain after the Covid-19 pandemi...Read More

LIVE FUTURES REPORT 28/04: LME base metals prices directionless in lackluster day's trade

April 29, 2020 / Staff reporter

Upside momentum in London Metal Exchange base metals prices was capped during the afternoon session on Tuesday April 28 while pervading uncertainty across the complex left three-month prices mixed at the close. Some analysts suggested participants were waiting on the sidelines in anticipation of macro developments from virus-hit global economies including the United States, before committing to fu...Read More

IRON ORE DAILY: Seaborne prices drop following futures curve

April 29, 2020 / Staff reporter

Seaborne iron ore market prices fell on Tuesday April 28, following the momentum in the iron ore futures curve on the Dalian Commodity Exchange. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $82.20 per tonne, down $1.28 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $84.60 per tonne, down $0.90 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $71.97 per tonne, down $0.50 per t...Read More

LIVE FUTURES REPORT 28/04: LME base metals prices consolidate; copper supported by 7,300t fresh cancellation

April 29, 2020 / Staff reporter

Base metals prices on the London Metal Exchange consolidated during morning trading on Tuesday April 28, characterized by thin volumes and sideways trading, while a 7,300-tonne fresh cancellation from Asian locations bolstered copper's price incline. The LME three-month copper price was recently at $5,188 per tonne, inching up by 0.1% from an intra-morning low of $5,170 per tonne. Trading turnover...Read More

RESEARCH: Key takeaways from the latest Ferro-alloys Market Tracker

April 29, 2020 / Staff reporter

Ferro-alloys prices have generally retreated over the past month, with demand concerns gaining in prominence.The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferro-alloy pricing trends have generally diverged ove the past month, depending on the security of the supply-side position of the market. With most supply concerns fading with the resumption of industrial activity i...Read More

LIVE FUTURES REPORT 28/04: LME base metals prices directionless in lackluster day's trade

April 29, 2020 / Staff reporter

Upside momentum in London Metal Exchange base metals prices was capped during the afternoon session on Tuesday April 28 while pervading uncertainty across the complex left three-month prices mixed at the close. Some analysts suggested participants were waiting on the sidelines in anticipation of macro developments from virus-hit global economies including the United States, before committing to fu...Read More

Boliden raises metal concentrate stocks to ensure supplies for smelters

April 29, 2020 / Staff reporter

Swedish mining company Boliden increased its concentrate stocks of zinc, copper and lead during the first quarter of 2020 to ensure supplies of raw materials for its smelters amid the growing market uncertainty created by the Covid-19 pandemic."The company is planning for normal business operations during the coming quarters," Boliden said in its interim report for the January-March quarter on Tue...Read More

Eramet Q1 sales fall on lower steel-sector demand

April 29, 2020 / Staff reporter

French metals and ore producer Eramet reported an 11% drop in revenues in the first three months of 2020 because of lower steel demand globally, with increased uncertainty about the future due to the Covid-19 pandemic.Eramet's manganese business reported sales down by 17% in January-March to ?,?359 million ($389 million), due to falling steel demand and a build-up of manganese ore at Chinese ports...Read More

Zambia unlikely to impose Covid-19 restrictions on mining, First Quantum exec says

April 29, 2020 / Staff reporter

Zambia is highly unlikely to impose restrictions on the mining sector during the Covid-19 pandemic because current practices are working very well, a senior executive at First Quantum said. Hannes Meyer, the company's chief financial officer, said Zambia's population demographics have also aided the limited spread of the virus in the copper-rich country. "I don't think for one minute that we will...Read More

FOCUS: Global race for copper scrap intensifies with no finish line in sight

April 29, 2020 / Staff reporter

Over the past month, Chinese importers have been keen to buy overseas copper scrap at more competitive prices, with scrap production shrunk by the effects of the Covid-19 pandemic, as well as disruptions in the supply of substitute copper products from Africa."Buy, buy, buy whatever copper scrap, ingots, blister you see on the market. This is what I have been told," a major Chinese copper smelter...Read More

LIVE FUTURES REPORT 28/04: LME base metals prices consolidate; copper supported by 7,300t fresh cancellation

April 29, 2020 / Staff reporter

Base metals prices on the London Metal Exchange consolidated during morning trading on Tuesday April 28, characterized by thin volumes and sideways trading, while a 7,300-tonne fresh cancellation from Asian locations bolstered copper's price incline. The LME three-month copper price was recently at $5,188 per tonne, inching up by 0.1% from an intra-morning low of $5,170 per tonne. Trading turnover...Read More

US hot-rolled coil index falls below $23/cwt; market seeks new floor

April 29, 2020 / Staff reporter

US hot-rolled coil prices have crashed below $23 per hundredweight ($460 per short ton) despite some mills trying to lift prices in tandem with an expected increase in scrap costs in May.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.63 per cwt ($452.60 per ton) on Tuesday April 28, down by 1.7% from $23.03 per cwt on Monday April 27 and down by 4.8% from $2...Read More

GULF STEEL BILLET, REBAR: Prices dip in the first week of Ramadan

April 29, 2020 / Staff reporter

The prices for steel billet and rebar in the United Arab Emirates fell over the past week due to weak demand during the Islamic holy month of Ramadan, as well as the continued effects of the Covid-19 pandemic, market sources said on Tuesday April 28. Authorities in the UAE announced a curfew from 10pm to 6am for the month of Ramadan, which started on April 23. Traditionally consumption of steel pr...Read More

Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok