Base Metal Stocks Articles

COKING COAL DAILY: Traders sound caution over Australian supply; prices plunge

April 04, 2020 / Staff reporter

Seaborne coking coal prices dropped below $140 per tonne on a fob-Australia basis on Friday April 3, with buyers maintaining a bearish outlook, though some traders highlighted potential supply concerns from Australia.Fastmarkets IndicesPremium hard coking coal, fob DBCT: $138.60 per tonne, down $3.49 per tonnePremium hard coking coal, cfr Jingtang: $145.75 per tonne, down $3.62 per tonneHard cokin...Read More

Key takeaways from the latest Steel Raw Materials Market Tracker

April 04, 2020 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.A 6% decline in the daily average 62% Fe iron ore fines benchmark last week contributed to the lowest quarterly price rise for the first quarter in five years, in spite of clear evidence of supply-side constraints. Although there were clear demand-related obstacles to iron ore suppliers raking in more typical, seasonal price...Read More

South Brazil pig iron export prices stable with mills sold out until June

April 04, 2020 / Staff reporter

The market for pig iron exports from the south of Brazil was stable during the week ended Friday April 3 because mills had sold out their material until June production.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was unchanged at $297-300 per tonne on Friday."[There is] no doubt that the global market is depressed, but we have sold out all available...Read More

EUROPE HRC: Domestic prices stable but falls likely

April 04, 2020 / Staff reporter

Domestic prices for hot-rolled coil in Northern Europe have been stable day on day but were expected to decrease due to poor demand, sources told Fastmarkets on Friday April 3.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was unchanged at ?,?470.00 ($512.11) per tonne on Friday.Friday's index was calculated based on offers and "achievable" prices heard at ?,?460-47...Read More

US aluminium scrap prices continue downtrend

April 04, 2020 / Staff reporter

Aluminium scrap prices in the United States continued to trend flat to soft this past week as the novel coronavirus prompted industrial slowdowns through capacity reduction at smelters and manufacturing plants across the country.Prices for smelter-grade scrap mostly moved lower week on week due to sustained pressure resulting from automotive plant closures and reduced flow...Read More

LIVE FUTURES REPORT 03/04: LME aluminium contract closes below $1,500 amid low turnover

April 04, 2020 / Staff reporter

The London Metal Exchange three-month aluminium price briefly breached the $1,500 per tonne mark, with an intraday high of $1,505 per tonne, but closed at $1,481.50 per tonne on Friday April 3. A little more than 9,100 aluminium lots were traded on Friday, and the underlying price remained under pressure despite an outflow of 2,550 tonnes across LME-registered warehouses. Overall aluminium invento...Read More

COPPER CONCS SNAPSHOT: TC/RCs move higher in choppy market; eyes on mine disruptions

April 04, 2020 / Staff reporter

Fastmarkets' copper concentrates treatment charges and refining charge (TC/RC) index moved up to $65.70 per tonne and 6.57 cents per lb this week, underpinned by a handful of deals reported in the high $60s per tonne. Traders are cautious about offering tonnages to the spot market in anticipation of supply uncertainties from South America. Notably, the counterparty spread between TC purchase level...Read More

Rusal shareholders to vote on near 7mln-tonne aluminium supply deal with Glencore

April 04, 2020 / Staff reporter

Independent shareholders of UC Rusal are to vote on a proposed $16.3-billion deal for the supply of up to almost 7 million tonnes of primary aluminium to Glencore over the next several years.The contract, which was approved at Rusal's board meeting on December 13 of last year, is for 2020-2024 and can be extended to 2025. It would mark the return of Rusal to a long-term sales contact with Gle...Read More

BATTERY RAW MATERIALS MARKET REPORT 03/04: Dampened consumer electronics demand weighs on cobalt tetroxide

April 04, 2020 / Staff reporter

An overview of the battery raw materials markets and their price moves from the past week.Read More

PRICING NOTICE: Delayed publication of daily alumina index, fob Australia

April 04, 2020 / Staff reporter

Fastmarkets published its alumina index, fob Australia later than scheduled on Friday April 3 due to data coming in toward the end of Friday's pricing discovery process.Fastmarkets' price book and database have both since been updated.The following price was published in Fastmarkets' price book later than scheduled: Alumina index, fob Australia, $/tonneFor more information or to provide feedb...Read More

China's top copper smelters to set Q2 buying floor online next week

April 04, 2020 / Staff reporter

China's largest copper smelters will gather online next week to agree the second-quarter pricing floor for the processing charges of copper concentrates following significant changes to market conditions from the first three months of the year.The video conference meeting of China Smelters Purchase Team (CSPT), which accounts for more than half the world's copper smelting capacity, will be held ne...Read More

US hot-rolled coil index falls below $26/cwt amid mill competition

April 04, 2020 / Staff reporter

Prices for hot-rolled coil in the United States have come down sharply, to a more-than-four-month low, while suppliers have been fighting each other for any orders on the market amid anticipated deteriorated demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.92 per hundredweight ($518.40 per short ton) on Friday April 3, down by 2.7% from $26.65 per...Read More

EU CARMAKER CLOSURES 03/04: Ford extends shutdowns, Daimler applies short-time working

April 04, 2020 / Staff reporter

Carmaker Ford has extended the restart of its European operations into May, while Mercedes-Benz owner Daimler has chosen to bring in short-time working while European nations try to control the Covid-19 pandemic.The automotive manufacturers in Europe and the UK extended their initial production suspensions following the introduction or extension of national lockdown measures.The shutdowns were ann...Read More

Steel import price slide persists in South America on vanishing buyer appetite

April 04, 2020 / Staff reporter

Flat steel import prices continued to slide in South America on lower offers, mainly from China, and while customer interest disappeared from the market due to the Covid-19 pandemic. "Anyone who was in the market is now away from it," a Brazil-based trader said. "Some importers are actually temporarily halting activities." May-shipment volumes are already down by at least 50% from expected fi...Read More

Brazilian slab export prices widen as buyers take advantage of 'opportunity'

April 04, 2020 / Staff reporter

Brazilian slab export prices widened during the week ended Friday April 3, with buyers opportunistic after prices decreased sharply in the previous two weeks.Buyers in North America and Asia were showing interest in Brazilian slab, with prices considered a bargain after several weeks of price decreases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil widened on Fri...Read More

Indian HRC export prices down by $10 per tonne on domestic lockdown

April 04, 2020 / Staff reporter

Indian mills cut the export price of hot-rolled coil by $10 per tonne in the week ended Friday April 3, amid the complete lockdown of the domestic market while the country tries to control the spread of the Covid-19 pandemic.The price for steel HRC, export, fob main port India, was assessed by Fastmarkets at $380-385 per tonne on Friday, a fall of $10 per tonne compared with...Read More

Europe's largest coking coal producer declares force majeure due to pandemic

April 04, 2020 / Staff reporter

Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, declared force majeure to its clients on Thursday April 2 due to the effects of the Covid-19 pandemic on its operations, in a statement seen by Fastmarkets.The company had already implemented shortened working hours from March 23 to combat the spread of the virus.On Wednesday this week, the company sai...Read More

UK SCRAP: Light iron market stabilizes ahead of April settlements

April 04, 2020 / Staff reporter

The inter-merchant spot price for light iron scrap in the UK has stabilized over the past week after falling by more than 37% between March 13 and March 27, as the market pauses ahead of monthly delivery settlements to consumers for April.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?45-55 ($56-68) per tonne on...Read More

US PIG IRON: Market down on lower demand, depressed scrap prices

April 04, 2020 / Staff reporter

The pig iron market in the United States weakened further in the week to Friday April 3, pressured lower by a depressed scrap market and weak demand among mills that have cut steel output.Fastmarkets' price assessment of pig iron, import, cfr Gulf of Mexico, US was $290-300 per tonne on Friday, down from $320-325 per tonne a week earlier."Steel producers in the US cut production a lot because...Read More

INDIA IMPORT SCRAP: Lockdown keeps trading on pause

April 04, 2020 / Staff reporter

The price of ferrous scrap imported into India continued to dip this week following a substantial drop last week when the country implemented a 21-day nationwide lockdown, bringing trade to a halt, sources told Fastmarkets on Friday April 3.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $243.49 per tonne on Friday, down from $247.00 per tonne one week p...Read More

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