Base Metal Stocks Articles

CHINA HRC: Domestic prices rise, but pessimism persists

May 17, 2019 / Staff reporter

China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to...Read More

TURKEY LONG STEEL: Stronger lira cools domestic prices

May 17, 2019 / Staff reporter

Turkish domestic prices for rebar and wire rod have gone down over the past week with a strengthening of the country's lira, sources said on Thursday May 16.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,250-3,350 ($538-555) per tonne ex-works on May 16, down from last week's TRY3,330-3,420 per tonne, including 18% VAT.The domestic rebar price in the Izmir region was TR...Read More

DAILY SCRAP REPORT: Suppliers withdraw offers on rumors of reduction in US duties

May 17, 2019 / Staff reporter

The Turkish deep-sea scrap markets went quiet on Thursday May 16, with suppliers withdrawing their offers because of rumors that the United States will remove the doubled Section 232 tariff on Turkey-origin steel products, sources said.The head of the Turkish parliament's foreign affairs committee, Volkan Bozkir, met with the charge d'affaires of the US embassy, Jeffrey Hovenier, in Ankara on May...Read More

ZHENGZHOU ALUMINA & BAUXITE CONF: Global alumina price bullishness hit by Alunorte progress - sources

May 17, 2019 / Staff reporter

Recent optimism for an uptrend in global alumina prices has been knocked by the news that the Federal Court in Bel?(C)m, Brazil, has removed a production embargo on Norsk Hydro's Alunorte alumina refinery, sources told Fastmarkets on the sidelines of the Alumina & Bauxite conference in Zhengzhou, China on May 16-17. This is the first of two production embargoes that need to be removed but sou...Read More

LIVE FUTURES REPORT 16/05: LME aluminium price climbs 0.5% amid 33kt fresh cancelation

May 17, 2019 / Staff reporter

Aluminium's three-month price on the London Metal Exchange appreciated during morning trading on Thursday May 16, climbing to an intraday high of $1,864 per tonne after it was buoyed by a fresh cancelation of 33,050 tonnes. The climb marks the light metal's highest price since April 26, but its three-month price has not traded above $1,900 per tonne since April 5, despite more than 400,000 tonnes...Read More

MORNING VIEW: LME base metals consolidate against mixed background

May 17, 2019 / Staff reporter

Although metals markets were mixed this morning, Thursday May 16, the downward trends on the charts seem to have halted; key now will be whether buying and short-covering follows. At least US President Donald Trump's delaying for six months his decision on whether to impose tariffs on imported vehicles and vehicle parts from Japan and Europe has not further broadened the trade war.US treasury yiel...Read More

Alunorte moves closer to restart after Federal Court lifts first production embargo

May 17, 2019 / Staff reporter

The Federal Court in Bel?(C)m, Brazil, lifted a production embargo on Norsk Hydro's Alunorte alumina refinery under the civil lawsuit on Wednesday May 15. This is the first of two production embargoes that need to be lifted before the refinery can resume full operations. Alunorte is still subject to a production embargo imposed by the same court in a parallel criminal lawsuit. Alunorte will contin...Read More

LIVE FUTURES REPORT 16/05: Positive trade headlines buoy SHFE base metals prices; Ni up 0.5%

May 17, 2019 / Staff reporter

Base metals prices on the Shanghai Futures Exchange exhibited broad-based strength for a second day in a row during morning trading on Thursday May 16, with nickel once again leading the charge higher - though gains were more tempered in the alloying metal compared with Wednesday.The most-traded July nickel contract on the SHFE stood at 97,710 yuan ($14,209) per tonne as at 9.46am Shanghai time on...Read More

TURKEY LONG STEEL EXPORTS: Weak demand pushes rebar prices further downward

May 17, 2019 / Staff reporter

Turkish rebar export prices have gone down over the past week because of the limited levels of current demand, sources said on Thursday May 16.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $450-460 per tonne fob on an actual weight basis on May 16, down from last week's $460-470 per tonne.The...Read More

CHINA HRC: Domestic prices rise, but pessimism persists

May 17, 2019 / Staff reporter

China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to...Read More

CHINA REBAR: Domestic prices pick up more strength on futures, billet gains

May 17, 2019 / Staff reporter

China's domestic rebar prices rose further on Thursday May 16 on gains in the billet and futures markets, though trading activity fell in response to the increases.Domestic Eastern China (Shanghai): 4,020-4,040 yuan ($585-587) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,950-4,000 yuan per tonne, up 20 yuan per tonneMills raised their offers following the gains in the futures mark...Read More

Long Steel Products Trade Log, May 16, 2019

May 17, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade III...Read More

Flat Steel Products Trade Log, May 16, 2019

May 17, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

IRON ORE DAILY: Prices surge toward $100 per tonne on strong sentiment

May 17, 2019 / Staff reporter

Seaborne iron ore prices jumped closer to the $100-per-tonne-cfr mark while setting a five-year high on Thursday May 16 amid bullish market sentiment.MB 62% Fe Iron Ore Index: $99.21 per tonne cfr Qingdao, up by $2.26 per tonne.MB 62% Fe Pilbara Blend Fines Index: $97.40 per tonne cfr Qingdao, up by $1.77 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $102.80 per tonne cfr Qingdao, up by $4.27 pe...Read More

Steelmaking Raw Materials Trade Log, May 16, 2019

May 17, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreRio Tinto, Global Ore, 170,000 tonnes of 62% Fe Pilbara Blend fines, traded at $97.40 per tonne cfr China, laycan...Read More

COKING COAL DAILY: Abundant offers, little interest

May 17, 2019 / Staff reporter

The seaborne coking coal spot market was inundated with offers on Thursday May 16 although the high asking prices kept buyers at bay.At least 11 cargoes of premium hard coking coal and two cargoes of second-tier hard coking coal are being offered to buyers in China, according to various sources.Top Australian brands were offered at around $215-216 per tonne cfr China while two cargoes of other bra...Read More

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

May 17, 2019 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Thursday May 16 that are worth another look.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying during afternoon trading.Metals trader Glencore has reshuffled its c...Read More

COBALT INSTITUTE CONF 2019: Six things we learned in Hong Kong

May 17, 2019 / Staff reporter

Six key takeaways from the Cobalt Institute's annual conference in Hong Kong on May 15-16, 2019.Cobalt prices likely to oscillate either side of $15 per lbSupplies of cobalt metal remained limited but the upside for prices would be capped as long as the hydroxide market was in a surplus.Prices were expected to fall over the summer due to weaker seasonal demand, before rebounding as they did at the...Read More

Glencore reshuffles cobalt department; Schulders on sabbatical

May 17, 2019 / Staff reporter

Metals trader Glencore has reshuffled its cobalt team, with David Brocas leading the company's cobalt trading since Franck Schulders has gone on sabbatical.The changes took effect in the past few weeks, Glencore told...Read More

UK ferro-titanium plant looks for production restart in Q3

May 17, 2019 / Staff reporter

British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, intends to restart production in the third quarter of 2019 after a fire damaged its plant in April, according to an industry source.FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in Sheffield, northern England, after a furnace exploded on...Read More

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