Base metal stocks Articles

EU states approve extension of steel safeguard measures, sources say

June 19, 2021 / Staff reporter

The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More

CHINA REBAR: Futures contract loses early-hour gains on mixed market sentiment [CORRECTED]

June 19, 2021 / Staff reporter

The October rebar futures contract at the Shanghai Futures Exchange rose in the morning and dropped in the afternoon of Friday June 18 due to conflicting trends in the rebar market.Domestic Eastern China (Shanghai): 4,970-5,000 yuan ($771-776) per tonne, up by 50-60 yuan per tonne.  Northern China (Beijing): 4,930-4,970 yuan per tonne, down by 140-150 yuan per tonne The National Developmen...Read More

POLAND WIRE ROD: Prices stable but new rises likely

June 19, 2021 / Staff reporter

Domestic prices for steel wire rod in Poland have been broadly stable at high levels over the past week, but the market was braced for new price rises soon because of the continuing supply shortage and increased feedstock costs, Fastmarkets heard on Friday June 18.Wire rod prices in Poland stabilized this week after last week's significant increase, leaving Fastmarkets' weekly price assessment for...Read More

STEEL SCRAP WRAP: Asian prices diverge from subdued Turkish market

June 19, 2021 / Staff reporter

Global scrap prices in the key markets diverged in the week to Friday June 18, with those in Asia moving upward, while Turkish scrap prices fell amid slow buying driven by uncertainty over finished steel sales.Turkish buyers had to pay a premium for US-origin shredded scrapUS export market reported new sales to TurkeySolid demand in Vietnam resulted in higher pricesChina reported stability in impo...Read More

US PIG IRON: Market softens on lower demand

June 19, 2021 / Staff reporter

The United States' pig iron import prices softened during the week to Friday June 18, with buyers having predominantly restocked while material for near-term shipment remained available in the market. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $650-665 per tonne on Friday, down by 2.16% from $672 per tonne a week earlier."We have bought enough and do not nee...Read More

SOUTH ASIA STEEL SCRAP: Market sentiment dips as week ends

June 19, 2021 / Staff reporter

Prices for shredded steel scrap imported into India and Pakistan have risen on active purchasing that tailed off toward the end of the week, sources told Fastmarkets on Friday June 18.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $533.93 per tonne on June 18, up from $516.47 per tonne on June 11.Offers heard this week were in the range of $520-540 per tonne cfr, whi...Read More

Brazilian slab export prices stable, buyers remain cautious

June 19, 2021 / Staff reporter

Brazilian slab export prices remained stable as buyers and sellers held their ground in negotiations for August-shipment batches amid high flat steel prices and raw material costs.Fastmarkets assessed the price for steel slab export, fob main port Brazil unchanged for the second consecutive week at $980-1,000 per tonne on Friday June 18.Sellers were holding offers at $1,000 per tonne fob to t...Read More

EU states approve extension of steel safeguard measures, sources say

June 19, 2021 / Staff reporter

The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More

Asia import billet prices remain largely flat in handful of new deals

June 19, 2021 / Staff reporter

Prices for steel billet imported to China and Southeast Asia were largely unchanged during the week to Friday June 18, with bids falling but deals heard propping up prices across the week.Chinese buyers dropped their bid prices to $660-670 per tonne cfr China towards the end of this week, from $690 per tonne cfr on Monday, amid a downtrend in ferrous futures markets.Offers for Indonesia-origin 3sp...Read More

European car registrations up in May but well below 2019 levels

June 19, 2021 / Staff reporter

European passenger car registrations in May 2021 increased by 53.4% year-on-year, yet remained significantly below the level seen two years ago in May 2019, the European Automobile Manufacturers Association (ACEA) said on Thursday June 17."In May 2021, passenger car registrations in the EU rose [to] 891,665 units. Nevertheless, last month's result is still far below the 1.2 million cars that were...Read More

EU states approve extension of steel safeguard measures, sources say

June 19, 2021 / Staff reporter

The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More

FOCUS: Can China really move away from financial derivatives, imported commodities?

June 19, 2021 / Staff reporter

China has started cautioning state-owned enterprises (SOEs) regarding overdependence on imported commodities and overexposure in commodity-based financial derivatives, market sources told Fastmarkets this week.In the past few days, there had been rampant market chatter the country's State-owned Assets Supervision & Administration Commission (Sasac) asking SOEs to report their positions in commodit...Read More

Brazilian apparent steel use up 83% in May

June 19, 2021 / Staff reporter

Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, Ao Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparison...Read More

Brazilian slab export prices stable, buyers remain cautious

June 19, 2021 / Staff reporter

Brazilian slab export prices remained stable as buyers and sellers held their ground in negotiations for August-shipment batches amid high flat steel prices and raw material costs.Fastmarkets assessed the price for steel slab export, fob main port Brazil unchanged for the second consecutive week at $980-1,000 per tonne on Friday June 18.Sellers were holding offers at $1,000 per tonne fob to t...Read More

South America flat steel market up on higher freight costs, sale prices

June 19, 2021 / Staff reporter

Prices for flat-rolled steel products imported into South America increased in the week ended Friday June 18 amid reports of higher freight rates and more expensive deals.Demand for August-shipment material was steady, and close to levels seen in previous months, according to market participants. But clients were still uneasy due to the possibility of tax changes in China.Most sources were expecti...Read More

CHINA HRC: Export prices fall amid poor trading [CORRECTED]

June 19, 2021 / Staff reporter

Hot-rolled coil prices in China's domestic market edged higher on Friday June 18, while export prices fell as overseas buyers became more cautious due to the potential imposition of export taxes.DomesticEastern China (Shanghai): 5,500-5,530 yuan ($853-858) per tonne, up by 20-30 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,450-5,480 yuan per tonne, down by 90-100 yuan per tonne.S...Read More

NEW ENERGY MATERIALS MARKET REPORT 18/06: Cobalt prices up on increased buying appetites in Europe, US

June 19, 2021 / Staff reporter

An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More

FOCUS: Global shredded scrap shortage affecting key export markets

June 19, 2021 / Staff reporter

A shortage of shredded scrap is squeezing major supplier markets and pushing up the prices of key grades in the world's export markets, sources told Fastmarkets this week.Lower inflows to scrapyards and stronger demand for key grades in the major supplier nations have made it much harder for overseas consumers to secure shredded scrap over the past month.The lack of available shredded scrap, combi...Read More

FOCUS: Can China really move away from financial derivatives, imported commodities?

June 19, 2021 / Staff reporter

China has started cautioning state-owned enterprises (SOEs) regarding overdependence on imported commodities and overexposure in commodity-based financial derivatives, market sources told Fastmarkets this week.In the past few days, there had been rampant market chatter the country's State-owned Assets Supervision & Administration Commission (Sasac) asking SOEs to report their positions in commodit...Read More

CHINA HRC: Export prices fall amid poor trading [CORRECTED]

June 19, 2021 / Staff reporter

Hot-rolled coil prices in China's domestic market edged higher on Friday June 18, while export prices fell as overseas buyers became more cautious due to the potential imposition of export taxes.DomesticEastern China (Shanghai): 5,500-5,530 yuan ($853-858) per tonne, up by 20-30 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,450-5,480 yuan per tonne, down by 90-100 yuan per tonne.S...Read More