Base Metal Stocks Articles

PRICING NOTICE: Clarification of specification of cfr Vietnam steel scrap assessment

June 26, 2019 / Staff reporter

Fastmarkets wishes to clarify the specification of the Vietnam steel scrap assessment, which is based on heavy melting scrap 1&2 of 80:20 quality.The name of this price, which from July 5 will have the symbol MB-STE-0783 exclusively associated with it, has been amended to steel scrap HMS 1&2 (80:20), cfr Vietnam, $/tonne. The specifications for this price are as follows:Assessment: Steel...Read More

GULF STEEL BILLET, REBAR: Billet import prices fall, demand remains weak

June 26, 2019 / Staff reporter

Prices for imported billet in the United Arab Emirates weakened over the past week, in line with lower offers and a lack of demand, sources said on Tuesday June 25.Domestic rebar The domestic rebar market in the UAE was sluggish due to a drop in demand during the summer period. The UAE's largest producer, Emirates Steel, was offering rebar at 1,881 dirhams ($512) per tonne ex-works this week, whil...Read More

CHINA REBAR: Northern region prices rise further on strong futures

June 26, 2019 / Staff reporter

Northern China's domestic rebar prices continued to rise on Tuesday June 25 amid surging futures, though the eastern Chinese market held steady.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, up 30-40 yuan per tonneTraders in Shanghai kept prices flat despite rising futures in an attempt to secure more sales.B...Read More

GLOBAL CHROME WRAP: Ore, alloy prices under pressure globally amid weak demand

June 26, 2019 / Staff reporter

Chrome ore prices dropped again in China and alloy prices weakened globally in the week ended Friday June 21 due to poor demand. Ore prices down for seventh week runningCharge chrome import prices weaken in ChinaAlloy prices dip in Japan, South KoreaEuropean alloy prices slumpUS market flat once again UG2 chrome ore prices in China slid for the seventh consecutive week on Friday after some suppli...Read More

GLOBAL FERRO-SILICON WRAP: Chinese market garners futures support; European market falls almost 6%

June 26, 2019 / Staff reporter

Ferro-silicon prices in China were stable in the week ended Friday June 21, extending a steady run in the market for a fifth consecutive week against firm Chinese futures prices and relatively limited availability in the physical market.In Europe, the market has fallen due to weak spot demand and an increasing number of quarterly deals done below ?,?1,000 ($1,139) per tonne, which has dragged down...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 25/06

June 26, 2019 / Staff reporter

A summary of base metals premiums from across the globe for the week to Tuesday June 25.Please click...Read More

Australia's Sandfire expands global copper footprint with acquisition of MOD Resources in Botswana

June 26, 2019 / Staff reporter

Australia's Sandfire Resources is to acquire Botswana, Africa-focused copper development and exploration company MOD Resources in a deal worth A$167 million ($116.38 million). The offer has been made on a share-to-share basis, with 0.0664 Sandfire shares to be offered for each MOD share held, the companies said a joint announcement through the Australian Stock Exchange on Tuesday Ju...Read More

LIVE FUTURES REPORT 25/06: LME Ni up 1.2% on fresh outflows despite modest vols

June 26, 2019 / Staff reporter

Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.Marginal headway made in US-Sino trade negotiations, with US President Donald Trump and China's Xi Jinping set to meet at the G20 Summit in Japan this week, is supporting risk sentime...Read More

China's CRC, HDG export prices up on bullish tone after China output cuts

June 26, 2019 / Staff reporter

Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose for the first time since early April after the municipal government in northern China's steelmaking hub of Tangshan said steelmakers in the city would have to lower production by at least 20% until the end of July to reduce pollution.Prices in the upstream HRC market surged following the announcement, with Fastmarkets M...Read More

IN CASE YOU MISSED IT: 5 key stories from June 25

June 26, 2019 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Tuesday June 25 that are worth another look.Some of Jiangxi Tungsten Holding Group's tungsten mines have had to cut production due to floods caused by heavy rain since the start of June in China's Jiangxi province, with some market sources expecting this to cap the downtrend in tungsten concentrate prices. Static trading conditions...Read More

FOCUS: Lower price, environmental checks pose challenges to Chinese V2O5 production ramp-up plans in 2019 - sources

June 26, 2019 / Staff reporter

Chinese vanadium pentoxide (V2O5) producers may be unable to achieve their scheduled production ramp-up plans in 2019 due to cost pressures stemming from the comparatively low V2O5 price so far this year and persistent stringent environmental inspections across the country, market sources told Fastmarkets MB. Many Chinese V2O5 producers planned to ramp up their operations in 2019, encouraged by ha...Read More

LIVE FUTURES REPORT 25/06: LME Ni up 1.2% on fresh outflows despite modest vols

June 26, 2019 / Staff reporter

Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.Marginal headway made in US-Sino trade negotiations, with US President Donald Trump and China's Xi Jinping set to meet at the G20 Summit in Japan this week, is supporting risk sentime...Read More

COKING COAL DAILY: Weak demand keeps trading thin in seaborne market

June 26, 2019 / Staff reporter

Weakness persisted in the seaborne coking coal spot market on Tuesday June 25 with participants in both the China and ex-China segments keeping to the sidelines amid poor demand."End users' interest in seaborne coking coal cargoes is thin amid weakness in the metallurgical coke market," a Chinese trading source said.A second Chinese trader said that offers for premium low-vol hard coking coal rema...Read More

CHINA HRC: Mills raise export prices on stronger domestic market

June 26, 2019 / Staff reporter

China's hot-rolled coil producers raised export prices on Tuesday June 25 amid continual gains in the domestic market.DomesticEastern China (Shanghai): 3,910-3,920 yuan ($568-570) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10-20 yuan per tonnePrices rose further during the day with more and more participants becoming more bullish about the market.The...Read More

GULF STEEL BILLET, REBAR: Billet import prices fall, demand remains weak

June 26, 2019 / Staff reporter

Prices for imported billet in the United Arab Emirates weakened over the past week, in line with lower offers and a lack of demand, sources said on Tuesday June 25.Domestic rebar The domestic rebar market in the UAE was sluggish due to a drop in demand during the summer period. The UAE's largest producer, Emirates Steel, was offering rebar at 1,881 dirhams ($512) per tonne ex-works this week, whil...Read More

IRON ORE DAILY: Tangshan production restrictions continue to weigh on prices

June 26, 2019 / Staff reporter

Iron ore prices retreated further on Tuesday June 25 due to the expectation of falling demand amid restrictions on steelmakers in China's steel production hub of Tangshan.MB 62% Fe Iron Ore Index: $114.46 per tonne cfr Qingdao, down $2.31 per tonne. MB 62% Fe Pilbara Blend Fines Index: $113.26 per tonne cfr Qingdao, down $2.31 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.71 per tonne cfr...Read More

IN CASE YOU MISSED IT: 5 key stories from June 25

June 26, 2019 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Tuesday June 25 that are worth another look.Some of Jiangxi Tungsten Holding Group's tungsten mines have had to cut production due to floods caused by heavy rain since the start of June in China's Jiangxi province, with some market sources expecting this to cap the downtrend in tungsten concentrate prices. Static trading conditions...Read More

US copper cathode premium widens lower

June 26, 2019 / Staff reporter

The premium for copper cathodes in the United States has moved for the first time since May 14, widening downward amid ample supply and a slowdown in spot trading.Fastmarkets AMM assessed the US copper cathode premium at 7.25-8 cents per lb delivered to the Midwest on Tuesday June 25, widening from the previous range of 7.5-8 cents per lb.Market sources credited strong supply and muted demand for...Read More

LIVE FUTURES REPORT 25/06: LME copper, zinc breach nearby resistance in upbeat trading

June 26, 2019 / Staff reporter

Both copper and zinc's three-month prices on the London Metal Exchange were elevated during morning trading on Tuesday June 25, breaching the nearby resistance levels while a weaker US dollar index fueled further buying momentum.The red metal's three-month price has been trading in a narrow range between $5,900-6,000 per tonne over June, while physical market participants continue to indicate a hi...Read More

LIVE FUTURES REPORT 25/06: Soft dollar supports SHFE base metals prices; zinc jumps 1.2%

June 26, 2019 / Staff reporter

Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Tuesday June 25, with a softening dollar helping to ease the bearishness engulfing the market amid continuing geopolitical uncertainty.The dollar index, which measures the value of the US dollar against a basket of foreign currencies, fell by 0.08% to 95.93 as at 10.27am Shanghai time. This...Read More

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