Base Metal Stocks Articles

IN CASE YOU MISSED IT: 5 key stories from January 14

January 15, 2020 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Tuesday January 14 that are worth another look.ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.Nizi International has closed its base metals tradi...Read More

Novelis acquisition of Aleris delayed

January 15, 2020 / Staff reporter

Novelis Inc will not complete its acquisition of Aleris Corp by the previously announced January 21 deadline, a company spokesperson confirmed to Fastmarkets AMM on Tuesday January 14."Novelis will no longer be able to meet the January 21, 2020, target date to close the acquisition of Aleris as a result of the European Commission's request for additional time to review Liberty House Group as the b...Read More

FOCUS: What happens after China renames scrap metal as renewable material?

January 15, 2020 / Staff reporter

Starting in July this year, and for the first time, millions of tonnes of copper and aluminium scrap will be shipped into China not as waste but as merchandise, after the country announced its timetable for the renaming of high-purity non-ferrous scrap as recyclable materials.On Monday January 13, China's State Administration for Market Regulation said that the new specifications for secondary cop...Read More

FOCUS: LME options spike signals cautious optimism on copper

January 15, 2020 / Staff reporter

London Metal Exchange copper bulls are turning to the options market to make cautious bets that copper's price will continue its rapid rise into March 2020, Fastmarkets learned.Open interest in March options has spiked and a total of 9,635 lots of call options - equivalent to over 240,000 tonnes of copper - are currently live with strike prices between $6,400 per tonne and $6,600 per tonne.Call op...Read More

US HRC slips on Brazil slab surge, scrap uncertainty

January 15, 2020 / Staff reporter

Hot-rolled coil prices in the United States slipped on increased jitters about the direction of raw material prices amid a surge in availability of Brazilian slabs.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.52 per hundredweight ($610.40 per short ton) on Tuesday January 14, down by 0.7% from $30.75 per cwt on Monday January 13 but up by 1.9% from $2...Read More

AM Kryvyi Rih seeks revision of anti-dumping duty on Belarus long steel

January 15, 2020 / Staff reporter

ArcelorMittal Kryvyi Rih, the major long steel producer in Ukraine, has called on the country's government to review its decision to impose an import tariff on rebar and wire rod steel imports from Belarus, referring to evidence of dumping.On December 6, 2019, the Interagency Commission on International Trade announced the results of an anti-dumping investigation into steel imports from Belarus an...Read More

Mexico's Ahmsa shuts down blast furnace on tough market conditions

January 15, 2020 / Staff reporter

Mexico's largest integrated steelmaker, Altos Hornos de M?(C)xico (Ahmsa), has shut down its blast furnace No6 in the country's northern city of Monclova due to the current market conditions, it has said."The company decided to adjust production to variations in demand, which has been weak since last year, and to pursue greater flexibility to respond to the expected positive changes in the market,...Read More

CIS FLAT STEEL: Market strong on low availability

January 15, 2020 / Staff reporter

The export market for flat rolled products from the Commonwealth of Independent States (CIS) remained strong in the first two weeks of January on low availability, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea was $475-490 per tonne on Monday January 13, up from $460-470 per tonne a week earlier.Offers from Russian expor...Read More

DAILY SCRAP REPORT: Mills stuck between weak rebar markets, firm scrap costs

January 15, 2020 / Staff reporter

Turkish steel producers continued to hold back from the deep-sea scrap markets on the second day of the working week because of the soft rebar market and firm scrap prices, sources said on Tuesday January 14.The country's steel producers went through last week with only one deep-sea cargo bought, when a steel mill in the Marmara region booked a European cargo at an average price of $300 per tonne...Read More

IRON ORE DAILY: Seaborne iron ore prices jump on yuan appreciation, low shipments

January 15, 2020 / Staff reporter

Seaborne iron ore prices strengthened further on Tuesday January 14 amid continued appreciation of the yuan against the dollar and lower shipments from Australia and Brazil. 62% Fe fines, cfr Qingdao: $97.03 per tonne, up $1.10 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.07 per tonne, up $1.10 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $97.53 per tonne, up $1.33 per tonne. 58% F...Read More

COKING COAL DAILY: Prices steady on thin trading day

January 15, 2020 / Staff reporter

Seaborne coking coal prices were stable on Tuesday January 14 while trading activity took a breather.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.26 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $160.87 per tonne, unchangedHard coking coal, fob DBCT: $125.01 per tonne, unchangedHard coking coal, cfr Jingtang: $135.76 per tonne, unchanged  ...Read More

India's JSPL targets further steel output rise after DRI plant restarts

January 15, 2020 / Staff reporter

Indian steel producer Jindal Steel and Power (JSPL) has reopened a major direct reduced iron (DRI) plant to boost its steel output by a further 1.5 million tonnes in the period from April 2020 to March 2021, the firm said on Tuesday January 14. JSPL bucked the general trend of output cuts among India's steel producers in late 2019, the company said in its quarterly results on January 2. Bumper sal...Read More

LIVE FUTURES REPORT 14/01: LME nickel price sinks 3% on selling pressure; copper holds gains

January 15, 2020 / Staff reporter

The three-month nickel price on the London Metal Exchange tumbled 3% during morning trading on Tuesday January 14 after a sell-off of just under $600 brought the price below the $14,000 per tonne psychological support level. The outright nickel price on the LME was recently at $13,720 per tonne, while trading volumes were high over the morning at more than 3,500 lots exchanged as of 9:15am London...Read More

CHINA HRC: Exporters raise offers amid weakening dollar

January 15, 2020 / Staff reporter

China's hot-rolled coil exporters raised their offers on Tuesday January 14 on a weakening dollar, but thin trading kept domestic prices flat.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($562-564) per tonne, unchangedNorthern China (Tangshan): 3,600 yuan per tonne, unchangedA Shanghai-based trader said there was barely any movement in the market with trading activity thinning due to downstr...Read More

LIVE FUTURES REPORT 14/01: Nickel leads SHFE base metals downward; copper up by 0.5%

January 15, 2020 / Staff reporter

Base metals prices on the Shanghai Futures Exchange were mostly down at the close of morning trading on Tuesday January 14, with the downtrend led by nickel, which is reversing the strength seen on Monday.The most-traded March nickel contract closed Tuesday's morning trading session at 110,250 yuan ($15,981) per tonne, down by 2,960 yuan per tonne - or 2.6% - from Monday's close of 113,210 yuan pe...Read More

PEOPLE MOVES: Ferroglobe appoints Marco Levi as chief executive

January 15, 2020 / Staff reporter

Silicon and bulk alloys producer Ferroglobe has appointed Marco Levi as its chief executive officer, replacing Pedro Larrea, who leaves the company to seek new professional challenges, according to a company statement on Monday January 13. The new chief executive will be in charge of designing a new strategy that will lead the ferro-alloys maker, which has recently moved its headquarters to Madrid...Read More

Pangang halts some V2O5 output for maintenance - sources

January 15, 2020 / Staff reporter

China's Pangang Group has paused some vanadium pentoxide (V2O5) production at one of its three blast furnaces to conduct maintenance, a source at the company confirmed to Fastmarkets. The maintenance started last month and will last for 70 days, the source said. Around 1,000 tonnes of V2O5 will be taken out of production over this period at the company's Panzhihua production base. Pangang has two...Read More

Mexican ferrous scrap prices bolstered by gains in US market

January 15, 2020 / Staff reporter

Mexican ferrous scrap prices soared last week following gains in the United States' market, continuing the upward drive that began in late December in the region of Monterrey - capital of the northeastern Mexican state of Nuevo Le??n - and in the country's central Baj?-o region.Fastmarkets' weekly assessment of the steel scrap No1 HMS, consumer buying price, delivered mill Bajio was at 5,200...Read More

Tech Talk for Wednesday January 15th 2020

15/01/2020 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the January Empire State Manufacturing Survey is unchanged from December at 3.5. Actual was 4.8. Consensus for the December Producer Price Index was an increase of 0.2% versus no chang...Read More

LIVE FUTURES REPORT 13/01: LME copper nears $6,300/t in 1.3% uptick; outflows fail to bolster Al

January 14, 2020 / Staff reporter

The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday January 13, settling at a nine-month high against moderate volumes traded, while aluminium futures stagnated despite tumbling exchange stocks.Copper's underlying price on the LME closed at $6,290 per tonne on Monday afternoon, its highest settlement price since April 2019, while its daily trading...Read More

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