Base Metal Stocks Articles

IN CASE YOU MISSED IT: 5 key stories from February 12

February 13, 2020 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Wednesday February 12 that are worth another look.China may not be the big steady steel rebar buyer that most of us in the market thought it was, the International Rebar Producers & Exporters Association (Irepas) said on February 5 with regards the impact of the novel coronavirus (2019-nCoV).Major Chinese copper smelter Daye Nonferrous,...Read More

OUTLOOK: Scrap-rebar price gap in Turkey lowest in a year in January 2020, Irepas says

February 13, 2020 / Staff reporter

The price difference between scrap and rebar for Turkish mills in January this year was at its narrowest since January 2019, the International Rebar Producers & Exporters Association (Irepas) said on February 5.In fact, compared with January 2019, the spread had only ever been smaller in January 2017, according to Irepas' outlook statement.Turkish producers were also trying to widen the spread, wh...Read More

EUROPE WIRE ROD: Prices stable while market waits for scrap settlements

February 13, 2020 / Staff reporter

The price of steel mesh-quality wire rod was unchanged in Europe while market participants waited to see how the monthly European ferrous scrap prices would settle, sources told Fastmarkets on Wednesday February 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, remained at ?,?460-470 ($502-513) per tonne on February 12, the fourth conse...Read More

DAILY SCRAP REPORT: Prices rise in new US, Baltic Sea cargo deals

February 13, 2020 / Staff reporter

Turkish deep-sea scrap import prices have increased sharply with improving demand from the country's steel mills, sources said on Wednesday February 12.A steel mill in the Izmir region has booked a US cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $268 per tonne, 12,000 tonnes of shredded at $273 per tonne and 4,000 tonnes of bonus at $278 per tonne cfr. It was not clear whether this deal w...Read More

IRON ORE DAILY: Seaborne prices remain supported as Vale lowers its production guidance for Q1

February 13, 2020 / Staff reporter

Seaborne iron ore prices remained firm on Wednesday February 12 following an announcement by Vale that it expects lower production for the quarter ending on March 31.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.68 per tonne, up $0.75 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.01 per tonne, up $0.75 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.93 per tonne, up $0.7...Read More

Mexican steel scrap market reports price cuts; negative sentiment persists

February 13, 2020 / Staff reporter

Prices for ferrous scrap in the Mexican domestic market were down in four grades and stable in five other grades in the week ended Friday February 7, with consumers attempting to reduce prices but meeting resistance from sellers.At least two scrap consumers in the region around the city of Monterrey announced price cuts for several grades last week, in the range of 100-150 pesos ($5-8) per tonne.M...Read More

CIS STEEL BILLET: Suppliers' mood turns positive as scrap market rebounds

February 13, 2020 / Staff reporter

The mood in the CIS export billet market had turned positive by the middle of the current week amid a rebound in import scrap prices in Turkey.Some CIS mills returned to the market after taking a wait-and-see position at the end of last week, and were now testing it with higher offers.CIS billet was...Read More

OUTLOOK: It is hard to predict full impact of coronavirus in China, Irepas says

February 13, 2020 / Staff reporter

China may not be the big steady steel rebar buyer that most of us in the market thought it was, the International Rebar Producers & Exporters Association (Irepas) said on February 5 with regards the impact of the novel coronavirus (2019-nCoV). In general, the demand outlook is still positive globally while developments in the automotive and industrial markets may help to support construction produ...Read More

CHINA REBAR: Call to resume production lifts sentiment

February 13, 2020 / Staff reporter

China's domestic rebar prices held steady on Wednesday February 12 amid weak demand, though optimism emerged following a call by the country's Ministry of Industry & Information Technology for enterprises to resume production gradually. Eastern China (Shanghai): 3,380-3,420 yuan ($485-490) per tonne, unchangedNorthern China (Beijing): 3,440-3,460 yuan per tonne, unchangedA trader in eastern China...Read More

NOBLE ALLOYS MARKET REPORT 12/02: Ferro-molybdenum rises 1.2% on prompt material tightness

February 13, 2020 / Staff reporter

An overview of the noble alloys markets and the reasons for any price moves.Read More

TITANIUM SNAPSHOT: Markets stable, suppliers hold prices

February 13, 2020 / Staff reporter

Key data from Fastmarkets' pricing session in Europe on Wednesday February 12.Key drivers The price range for ferro-titanium has been stable over the past week, with suppliers holding their offer prices against steady but low-key demand from consumers. No deals were reported, apart from in the scrap market where there were reports of almost 40 tonnes bought in the UK at the top end of the latest a...Read More

Molybdenum prices climb to 5-month highs on logistical constraints, active Chinese market

February 13, 2020 / Staff reporter

Transport restrictions in China affecting raw material supply amid the coronavirus outbreak have led to a more active molybdenum spot market in China and as a result have lifted prices in South Korea and Europe. Low inventories in China have forced buyers there to import more material and subsequently drive the alloy and oxide prices to their highest levels since October 2019, according to Fastmar...Read More

EUROPE SECTIONS: Prices flat as Turkey's import quota turns critical

February 13, 2020 / Staff reporter

The prices of hollow steel sections in Europe remained flat this week, with eyes on the soon-to-be-exhausted import quota allocated to Turkey, sources told Fastmarkets on Wednesday February 12.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($677-698) per tonne on Wednesday, unchanged week on week.Prices have remained steady des...Read More

TURKEY STEEL PIPE EXPORTS: Weak demand, falling raw material costs drag down prices

February 13, 2020 / Staff reporter

Turkish pipe export prices have gone down over the past month on falling raw material prices and limited demand, sources said on Wednesday February 12.Fastmarkets' monthly price assessment for steel structural pipe, export, S235JR grade, EN10219, 2mm wall thickness, fob main port Turkey, was $510-515 per tonne on Wednesday, down from $545-550 per tonne in early January.The steel pipe producers in...Read More

FOCUS: Chinese aluminium, steel coil demand hit; coronavirus hammers auto sector

February 13, 2020 / Staff reporter

Demand for aluminium and steel coil in China has come under strain while the novel coronavirus (2019-nCoV) crisis has allowed the gears of the country's automotive sector to grind to a halt.Many manufacturing plants across China - including those in the automotive segment - have paused operations in the past two weeks to February 12 after the government extended workers' Lunar New Year holiday to...Read More

FOCUS: Rebar demand in China expected to recover in Q2

February 13, 2020 / Staff reporter

The outbreak of the novel coronavirus (2019-nCoV) in China has weakened the country's rebar market in recent weeks, sending prices to their lowest in close to three years. Fastmarkets' February 11 assessment for steel reinforcing bar (rebar) domestic, ex-whs eastern China was 3,380-3,420 yuan ($485-490) per tonne, down 250-260 yuan per tonne from 3,640-3,670 yuan per tonne on January 23 - the last...Read More

FOCUS: India's budget gets mixed response from steel sector despite boost to infrastructure spending

February 13, 2020 / Staff reporter

India's recently announced national budget got a mixed response from the country's steel sector, with some describing it as "disappointing" while others said it was "promising," sources told Fastmarkets.The Indian government's $428 billion budget for 2020-21 was presented on February 1.Part of the budget concerned the soon-to-be-launched National Logistics Policy, which will include various infras...Read More

PEOPLE MOVES: Outokumpu ceo Roeland Baan to step down

February 13, 2020 / Staff reporter

Outokumpu chief executive officer and president Roeland Baan will step down in May, the Finnish stainless steelmaker said on Friday February 7.He will continue in his role as the company's ceo until May 15, 2020. His successor has not yet been named by the company.Baan joined Outokumpu in January 2016....Read More

LIVE FUTURES REPORT 12/02: Low liquidity nudges LME copper price up; nickel holds above $13,000

February 13, 2020 / Staff reporter

The three-month price of copper on the London Metal Exchange edged higher at the close of trading on Wednesday February 12, staying firmly above the $5,700 per tonne support level despite low turnover, while nickel similarly held above nearby support.Copper's outright price on the LME closed at $5,764 per tonne on Wednesday afternoon, falling from an intraday high of $5,783 per tonne but topping T...Read More

GLOBAL TIN WRAP: Premiums flat in all regions for tin ingots, though market players' eye spread of coronavirus

February 13, 2020 / Staff reporter

Contango has returned to the price of tin, but the spot markets have remained quiet on muted demand and uncertainty about the implications of the outbreak in China of novel coronavirus (2019-nCoV).London Metal Exchange tin price still down from earlier in the year, with coronavirus spreading.Tin imports to China largely halted; premiums flat in Taiwan, too.United States sees modest spot trade over...Read More

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