Base Metal Stocks Articles

Tosyali Algeria commissions 2.5m tpy direct-reduced iron plant

December 21, 2018 / Staff reporter

Steelmaker Tosyali Algeria has announced the completion of a 'state-of-the-art' direct reduced iron-making (DRI) plant with a nameplate capacity of 2.5 million tonnes per year. In a press release this week, Suhat Korkmaz, chief executive officer of Tosyali Holdings, the Turkey-headquartered parent company of Tosyali Algeria, said the plant, "provides Tosyali Algeria with greater flexibility to pro...Read More

IRON ORE DAILY: No holiday lull for SGX's new high-grade derivative contract; physical prices up again

December 21, 2018 / Staff reporter

Singapore Exchange's 65% Fe iron ore derivative contract continues to lend transparency to the high-grade segment, with trades registered for August-December 2019 months on Thursday December 20 and physical prices up amid active trading.MB 62% Fe Iron Ore Index: $72.26 per tonne cfr Qingdao, up $3.11 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.09 per tonne cfr Qingdao, up $3.14 per tonne....Read More

COKING COAL DAILY: Seaborne market still deadlocked, PCI prices soften

December 21, 2018 / Staff reporter

The seaborne coking coal market remained in a stalemate on Thursday December 20 with offers made at prevailing levels failing to pique the interest of buyers."I was offered three cargoes of premium low-vol hard coking coal at around $210-212 per tonne cfr China during the day. Though sellers said there is room for negotiation, I'm not ready to commit yet," a northeastern Chinese mill source said.A...Read More

China AM: Iron ore futures buck downtrend again

December 21, 2018 / Staff reporter

Ferrous futures in China fell during morning trading on Thursday December 20, apart from the iron ore contract which posted small gains during the session.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,433 yuan ($498) per tonne, down 13 yuan per tonneMay hot-rolled coil: 3,438 yuan per tonne, down 22 yuan per tonne Dalian Commodity Exchange May iron ore: 490.50 yua...Read More

INTERVIEW: China Molybdenum expects more acquisitions; IXM key for future growth

December 21, 2018 / Staff reporter

China Molybdenum's acquisition of trading house IXM is central to the company's growth strategy for the coming years and it will continue to survey the market for more M&A opportunities, the company told Fastmarkets.The Chinese mining company, which has spent $4.65 billion in the past two years on an acquisition rampage, remains open to buy new assets if the right ones appear."We are looking for m...Read More

LIVE FUTURES REPORT 20/12: Dollar retreat buoys LME base metals prices; Al hits fresh 2018 low amid sanction relief

December 21, 2018 / Staff reporter

Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Thursday December 20, with a weaker US dollar index sustaining buying momentum while the potential removal of US sanctions against UC Rusal pressured aluminium to a fresh 2018 low. Reaching an intraday low of $1,905.50 per tonne, aluminium's three-month price fell to its lowest level of the year ami...Read More

PRICING NOTICE: Delayed publication of low-grade cobalt price assessment Dec 14

December 21, 2018 / Staff reporter

Fastmarkets' low-grade cobalt price assessment for Friday December 14 was published later than scheduled due to a technical error. The low-grade cobalt price is correct and now appears as normal in the Fastmarkets MB price book. To provide feedback on this pricing notice or if you would like to provide price information by becoming a data submitter, please contact Charlotte Radford by email at: pr...Read More

Two Chinese antimony smugglers arrested in latest crackdown; market downplays impact on prices

December 21, 2018 / Staff reporter

Chinese customs officials continue to clamp down on antimony smuggling, with more material seized and more arrests made this week, Fastmarkets understands. Two suspects were arrested and 20 tonnes of antimony ingot seized on Wednesday December 19 amid China's latest efforts to stop the illegal movement of goods via the China-Vietnam border, sources familiar with the matter told Fastmarkets MB on T...Read More

NORTH AMERICAN MORNING BRIEF 20/12: LME aluminium price hits fresh 2018 low; China Molybdenum expects more acquisitions

December 21, 2018 / Staff reporter

The latest metal markets news and price moves to start the North American day on Thursday December 20.Base metals prices on the London Metal Exchange were predominantly higher during morning trading, with a weaker dollar index sustaining buying momentum while the potential removal of US sanctions against UC Rusal pressured aluminium to a fresh 2018 low.Reaching an intraday low of $1,905.50 per ton...Read More

METALS MORNING VIEW 20/12: Metals prices mainly under pressure while broader markets show weakness

December 21, 2018 / Staff reporter

The three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Thursday December 20. The exception was aluminium that was up by 0.4% at $1,916 per tonne, while the rest were lower by an average of 0.5%.Copper was down the most with a 1.2% drop to $5,994 per tonne, this after rebounding 1.8% on Tuesday. Today's low at $5,946 per tonne once again breached...Read More

FOCUS: Why China's implementation of new rebar policy is failing to support vanadium prices

December 21, 2018 / Staff reporter

Revised standards for rebar in China have failed to lend continued support to vanadium prices in the country since their introduction in November, primarily due to enforcement of the standards not being as stringent as previously expected, market sources told Fastmarkets.The new rebar policy, effective November 1, 2018, requires Chinese steel mills to eliminate the original 335 megapascals (MPa)-t...Read More

East Asian stainless steel prices continue slide on year-end lull

December 21, 2018 / Staff reporter

Import prices for stainless steel in East Asia continued on a downward trend over the past week amid the year-end lull.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,860-1,930 per tonne cif for the week ended Wednesday December 19, down $40 per tonne from a week earlier.Fastmarkets MB's import price assessment for 304 stainless trimmed h...Read More

Tech Talk for Friday December 21st 2018

21/12/2018 / 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 November Durable Goods Orders was an increase of 1.2% versus a gain of 4.3% in October. Actual was an increase of 0.8%. Excluding transportation, consensus for November Durable Goods Or...Read More

AIIS questions Section 232 constitutionality at CIT hearing

December 20, 2018 / Staff reporter

A steel trade group argued that the statute under which the US Section 232 tariffs on steel and aluminum imports were issued was unconstitutional, according to oral arguments during a US Court of International Trade (CIT) hearing on Wednesday December 19. The American Institute for International Steel (AIIS) alleged that the statute violates the constitutional prohibition against Congress delegati...Read More

OFAC sanctions against UC Rusal, En+ to be removed in 30 days

December 20, 2018 / Staff reporter

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) plans to remove sanctions against UC Rusal and En+ Group in 30 days due to significant restructuring and corporate governance changes, it said in a notice.Russian oligarch Oleg Deripaska will remain sanctioned, however, and his property will remain blocked."Treasury sanctioned these companies because of their ownership and...Read More

LIVE FUTURES REPORT 19/12: LME base metals prices stage modest recovery; copper, nickel gather momentum

December 20, 2018 / Staff reporter

Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Wednesday December 19, reflecting a continued retreat in the dollar index The three-month copper price climbed 0.7%, ending back above $6,000 per tonne. In a quiet trading day, 16,200 lots of copper changed hands. In supply-side news, judges earlier this week ordered the reopening of Sterlite Copper's Tut...Read More

NEWSBREAK: Alcoa to curtail additional capacity at Aluminerie de Becancour smelter

December 20, 2018 / Staff reporter

Alcoa will start to curtail half of the one operating potline at its Aluminierie de Becancour Inc (ABI) smelter in Quebec, Canada, it said on Wednesday December 19. The smelter has a nameplate capacity of 413,000 tonnes per year across its three potlines. Alcoa owns 74.95% of the Becancour smelter while Rio Tinto owns the remaining...Read More

MINOR METALS MARKET REPORT 19/12: Antimony price weakens; selenium continues downward trend

December 20, 2018 / Staff reporter

An overview of the minor metals markets and the reasons for any price moves.Read More

FOCUS: China removes high-energy density requirement for EV batteries

December 20, 2018 / Staff reporter

A requirement for a higher energy density for new EV battery projects has been removed from the official regulations on automobile industry investment published by the country's National Development and Reform Commission (NDRC) on its website. The energy density threshold was removed from the final version of the regulations on Tuesday December 18 owing to the fact that current technology is not d...Read More

DAILY SCRAP REPORT: New cargo sends prices down

December 20, 2018 / Staff reporter

Turkish scrap import prices fell again Wednesday December 19, following news of a fresh deep-sea cargo booking, sources told Fastmarkets MB.Details of a steel producer in the Iskenderun region booking a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 7,000 tonnes of a mixture of bonus and shredded and 3,000 tonnes of busheling, at an average price of $285 per tonne cfr, came to light...Read More

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