Base Metal Stocks Articles

IN CASE YOU MISSED IT: 5 key stories from January 29

January 30, 2020 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More

FOCUS: Wuhan virus likely to dent Q2 demand for steel, iron ore in Asia

January 30, 2020 / Staff reporter

Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More

FOCUS: China's virus lockdown puts copper sellers, smelters in logistical bind

January 30, 2020 / Staff reporter

The outbreak of a coronavirus has led to the prolonged closure of Chinese businesses, triggering delays in logistical operations with copper market participants looking to ship cathodes and concentrates into the country.Traders and producers with shipments set to arrive in China in the first two weeks of February reported potential delays as well as difficulty in getting guarantees that letters of...Read More

BASE METALS WARRANT REPORT 29/01

January 30, 2020 / Staff reporter

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 29.Please click...Read More

LIVE FUTURES REPORT 29/01: LME lead price sinks another 3%; copper dips below $5,700

January 30, 2020 / Staff reporter

The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More

MJP aluminium stocks decline in December; Nagoya stocks dive 8%

January 30, 2020 / Staff reporter

Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More

LIVE FUTURES REPORT 29/01: LME lead price sinks another 3%; copper dips below $5,700

January 30, 2020 / Staff reporter

The three-month price of lead on the London Metal Exchange stood out as the most notable underperformer at the close of trading on Wednesday January 29, selling off more than 3% of its outright price to close at its lowest level since June 2019, while copper continued to struggle over the afternoon.Lead's underlying price on the LME closed at $1,832 per tonne on Wednesday afternoon, falling from a...Read More

EUROPE WIRE ROD: Prices steady as market waits for further scrap losses

January 30, 2020 / Staff reporter

The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week, with participants anxious about how far ferrous scrap prices would fall, sources told Fastmarkets on Wednesday January 29.Ferrous scrap prices in Turkey climbed sharply between late November and mid-December but then remained steady until mid-January. The Turkish price is a benchmark for the regional...Read More

IN CASE YOU MISSED IT: 5 key stories from January 29

January 30, 2020 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More

US stainless scrap prices hit by nickel fall

January 30, 2020 / Staff reporter

Stainless steel scrap prices in the United States have weakened after the London Metal Exchange cash nickel price fell below the $6-per-lb mark."Speculation that China's economic growth will suffer significantly because of the virus outbreak has taken a toll on base metal prices, and nickel has not been immune [to the fall]," one major dealer source said, adding that "prices have reverse...Read More

PEOPLE MOVES: Alcoa sales VP Perez to leave company after 18 years

January 30, 2020 / Staff reporter

I??igo P?(C)rez, vice president of Europe and Asia sales at Alcoa, will be leaving the aluminium producer after working there for 18 years, Fastmarkets understands. P?(C)rez, who handled aluminium product sales at Alcoa, will...Read More

MJP aluminium stocks decline in December; Nagoya stocks dive 8%

January 30, 2020 / Staff reporter

Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on month at the end of December 2019, according to data released by major Japanese trading house Marubeni Corp.Aluminium stock levels at warehouses in Nagoya were at 139,000 tonnes at the end of December 2019, down from 151,200 tonnes the previous month. Total aluminium stocks at the three main Japanese ports (MJP) o...Read More

GLOBAL NICKEL WRAP: European uncut cathode, US briquette premiums tick upward

January 30, 2020 / Staff reporter

The Rotterdam uncut nickel cathode and US nickel briquette premiums rose in the week to Tuesday January 28 on firmer demand for the former and weaker supply of the latter, while premiums in China held firm with participants out of the market for the extended Lunar New Year break.The in-warehouse Rotterdam cut cathode premium rose at the top end of the range, with firmer demand enlivening spot sale...Read More

US HRC index falls below $30/cwt again on negative scrap outlook

January 30, 2020 / Staff reporter

Hot-rolled coil prices in the United States again dropped below $30 per hundredweight ($600 per short ton) on fears that a negative ferrous scrap outlook for February could put the flat-rolled steel market under more pressure.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.98 per cwt ($599.60 per ton) on Wednesday January 29, down by 0.8% from...Read More

EUROPE REBAR: Prices stable, activity quiet as market mulls next move

January 30, 2020 / Staff reporter

Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-500 ($540-551) per tonne on Wednesday, unchanged week on wee...Read More

EUROPE SECTIONS: Steady prices could rise on thinning import quotas, rising feedstock costs

January 30, 2020 / Staff reporter

Hollow steel sections prices in Europe were unchanged this week, despite increasing feedstock costs and quickly expiring import quotas, market sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?620-640 ($683-705) per tonne on Wednesday, unchanged week on week.Earlier in the month, mills and...Read More

EUROPE BEAMS: Market prepares for next round of increases

January 30, 2020 / Staff reporter

The prices of steel H-beams in Europe were unchanged on Wednesday January 29 with mills working toward further price increases in February, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($606-639) per tonne on January 29, unchanged week on week.In recent weeks, producers have achieved higher H-beam prices to...Read More

FOCUS: Wuhan virus likely to dent Q2 demand for steel, iron ore in Asia

January 30, 2020 / Staff reporter

Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More

DAILY SCRAP REPORT: Fresh US cargo sends indices down by $10

January 30, 2020 / Staff reporter

Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.A steel mill in the Marmara region booked a cargo of 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cfr, Fastmarkets was told. This would put the HMS 1&2 (80:20) price at $272 per tonne cfr, several market sources said. The US cargo was compared with the...Read More

COKING COAL DAILY: Spot trading stays muted

January 30, 2020 / Staff reporter

Seaborne coking coal market remained inactive on Wednesday January 29, with top spot buyer China on an extended New Year break due to the outbreak of the coronavirus.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchanged ...Read More

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