Base Metal Stocks Articles

BANGLADESH STEEL SCRAP: Major mills avoid containers after recent bulk buys

September 17, 2021 / Staff reporter

The largest steelmakers in Bangladesh were largely out of the market for containers of steel scrap on Thursday September 16 following recent deep-sea cargo bookings, market participants have told Fastmarkets.In deals done last week, two deep-sea cargoes were booked to a mill in Bangladesh from the United States West Coast at $530 per tonne cfr for shredded, while a second mill booked deep-sea mate...Read More

TURKEY STEEL BILLET: Markets remain weak on poor finished steel sales

September 17, 2021 / Staff reporter

Steel billet prices in Turkey have gone down over the past week amid soft demand, market participants told Fastmarkets on Thursday September 16.The suppliers in the Commonwealth of Independent States have reduced their billet offers to Turkish customers to $620-625 per tonne cfr.But Turkish buyers were bidding only $600-605 per tonne cfr, because domestic material was available at $620 per tonne e...Read More

EGYPT STEEL BILLET, REBAR: Buyers wait for lower prices

September 17, 2021 / Staff reporter

Steel rebar and billet buyers in Egypt are waiting for prices to fall further before placing orders, sources told Fastmarkets.Global billet and rebar prices have recently been weakening; buyers in Egypt are waiting for prices to flatten before placing orders.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $610-620 per tonne on September 16, falling from $620-...Read More

LIVE FUTURES 16/09: Lead the only riser while nickel plunges 3.3%

September 17, 2021 / Staff reporter

There was a divergence in London Metal Exchange prices in the morning of September 16, with lead being the only metal to register gains, while copper, aluminum and nickel all fell - with the latter down by almost $1,000. Lead's three-month price, after a few days of persistent selling, was up by a slight $7 to $2,242 per tonne on Thursday at 9am. On Wednesday, the metal touched $2,213 per tonne, i...Read More

LIVE FUTURES 16/09: Nickel down 3.1%, copper down 2.7% with dollar at 3-week high

September 17, 2021 / Staff reporter

London Metal Exchange base-metals prices were mostly lower at the 5pm close of trading on Thursday September 16, with a rise in the US dollar and the intended release of more metal from China's reserves weighing on the complex.The US Dollar Index reached its highest on Thursday since August 27, with an intraday high of 92.97. The index was well bid, with investors expecting a hawkish view from the...Read More

EC extends anti-dumping duties on imports of CR stainless steel from China, Taiwan

September 17, 2021 / Staff reporter

The European Commission (EC) has extended definitive anti-dumping duties on imports of stainless steel cold-rolled (SSCR) flat products from China and Taiwan.The decision, published in the Official Journal of the European Union on Thursday September 16, followed an expiry review lodged by the European steel association Eurofer in May. The extended duties will now remain in place until 30...Read More

Brazil's aluminium producer CBA joins state power rationing program

September 17, 2021 / Staff reporter

Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) has decided to join a federal government initiative to reduce power demand in the country, the company said on Thursday September 16.Adhering to this program will not affect production, however, CBA said. It will adjust consumption hours during the day to a schedule yet to be defined by the country's national electric system oper...Read More

SOUTHERN EUROPE WIRE ROD: Weaker scrap, cheap imports weigh on prices

September 17, 2021 / Staff reporter

Domestic prices for steel wire rod in Italy have widened downward over the past seven days amid sluggish buying, a decline in scrap prices and the availability of cheap imports, Fastmarkets heard on Wednesday September 15.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, was ?,?800-845 ($945-998) per tonne on Wednesday, widening downward b...Read More

FOCUS: Logistics bottleneck freezes global cobalt trade flows

September 17, 2021 / Staff reporter

Global trade flows of cobalt metal have been frozen by logistics disruptions including high freight costs and a shortage of available containers, market participants have told Fastmarkets.Cobalt metal is a highly liquid commodity, with traders moving metals on their books around the globe depending on price differentials between Asia and Europe.But in the past 2-3 months, such trade flows have bee...Read More

EUROPE HRC: Buyers hold back from trading, await new quota period

September 17, 2021 / Staff reporter

Trading activity remained slow in the European hot-rolled coil market on Thursday September 16 because buyers held back from deals while they wait for a clearer price trend, sources told Fastmarkets.Buyers are waiting for the new quota period, which will start on October 1. Market sources said that large volumes of steel products are sitting in European Union ports awaiting customs clearance at th...Read More

IN CASE YOU MISSED IT: 5 key stories from September 16

September 17, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....Read More

SOUTHERN EUROPE WIRE ROD: Weaker scrap, cheap imports weigh on prices

September 17, 2021 / Staff reporter

Domestic prices for steel wire rod in Italy have widened downward over the past seven days amid sluggish buying, a decline in scrap prices and the availability of cheap imports, Fastmarkets heard on Wednesday September 15.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, was ?,?800-845 ($945-998) per tonne on Wednesday, widening downward b...Read More

Base metals mixed across exchanges, but mostly standing still

17 September 2021 / Staff reporter

Base metals prices on the LME and SHFE were mixed on the morning of Friday September 17, with most remaining listless despite being buffeted by a firmer US dollar, generally weaker economic data and disruption to both production and supply.Broader markets were quiet but firmer heading into the weekend and China's Mid-Autumn Festival holiday takes place on Monday and Tuesday.Base metalsThree-month...Read More

SPECIALTY STEEL RAW MATERIALS 15/09: Moly oxide prices decline on increased availability

September 16, 2021 / Staff reporter

An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook, Janie Davies...Read More

Restrictions on smelters support Chinese ferro-chrome alloy markets

September 16, 2021 / Staff reporter

China's domestic spot market for high-carbon ferro-chrome went up in the week to Tuesday September 14, reflecting tight availability and an expectation of good consumer demand.Fastmarkets' weekly price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, rose by 100-200 yuan per tonne to 10,000-10,300 yuan ($1,553-1,599) per tonne on Tuesday, from 9,800-10,200 yuan per tonne previou...Read More

PRICING NOTICE: Correction to pricing rationale of Fastmarkets' standard grade price, in-whs Rotterdam

September 16, 2021 / Staff reporter

Fastmarkets has corrected the pricing rationale for MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which was published incorrectly on Wednesday September 15 due to reporter errors.The range of offers was entered incorrectly for publication in the rationale as $24.30-24.80 per lb, and has been corrected to $24.60-24.80 per lb.One bid at $24.30 was discarded from the assessment due to...Read More

LIVE FUTURES 15/09: Aluminium, nickel up 2%, tin at highest in a month

September 16, 2021 / Staff reporter

London Metal Exchange prices bounced back on September 15, with lead the only metal under selling pressure. Aluminium had an intraday high of $2,924 per tonne. This is its highest price since it touched $3,000 per tonne on Monday prior to the sell-off on Monday afternoon. Its closing price was lower, at $2,893 per tonne, but still 2.2% higher than Tuesday's closing price. Similarly, nickel's...Read More

GERMANY STEEL SCRAP: Prices fall on international downtrend, higher domestic availability

September 16, 2021 / Staff reporter

German steelmakers have settled their monthly steel scrap contracts for September at lower prices, following the trend in international markets and due to the increased availability of some scrap grades in the local market, sources told Fastmarkets on Wednesday September 15.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of material...Read More

BASE METALS WARRANTS 15/09

September 16, 2021 / Staff reporter

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 15.Please click...Read More

Logistical challenges, tight supply support Europe's chrome alloy markets

September 16, 2021 / Staff reporter

Producers continued to raise their offer prices for low-carbon ferro-chrome during the week to Tuesday September 14 amid tight supply, high costs and uncertain logistics.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe was $2.78-3.10 per lb Cr on Tuesday, an increase of 5 cents, or 1.7%, from $2.73-$3.05 per lb Cr one week earlier."Several of the producer...Read More

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