Base metal stocks Articles

LIVE FUTURES REPORT 16/06: Mixed prices on LME ahead of US Fed statement

June 17, 2021 / Staff reporter

Price movements on the London Metal Exchange futures complex were mixed at the close of trading on Wednesday June 16, but were within the range of its Tuesday prices ahead of the US Federal Reserve's statement later in the day.Copper's three-month price, which fell by 4% on Tuesday to $9,569.50 per tonne, strengthened by 1% on Wednesday at 5pm to $9,667 per tonne. Its intraday low of $9,489 per to...Read More

COKING COAL DAILY: Premium prices diverge in cfr, fob markets

June 17, 2021 / Staff reporter

Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More

CHINA REBAR: Destocking demand causes downward pressure on prices

June 17, 2021 / Staff reporter

China's domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.DomesticEastern China (Shanghai): 4,980-5,010 yuan ($778-783) per tonne, down by 70 yuan per tonne.Fear of further drops in end-user demand and the decline in futures prices have strengthened sellers' desire to run down...Read More

Zinc production in Yunnan to fully resume by mid-June

June 17, 2021 / Staff reporter

Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More

RESEARCH: HDG, tinplate contract prices set for big hike

June 17, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More

RESEARCH: Bullish factors could underpin US HRC prices into Q3 2021

June 17, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:  US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying supply a...Read More

RESEARCH: HRC prices strengthen in May, buyer resistance grows

June 17, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More

RESEARCH: Welded pipe prices surge on substrate costs

June 17, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More

RESEARCH: Ferro-alloy prices to maintain momentum into June, through H2 2021

June 17, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More

RESEARCH: Tighter trade policy likely to raise global floor for stainless steel prices

June 17, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More

NORTHERN EUROPE WIRE ROD: Persistent supply-demand imbalance sends prices higher

June 17, 2021 / Staff reporter

Steel wire rod prices in Northern Europe increased as expected in the week to Wednesday June 16, mainly propelled by the continuing tightness of supply, but aggravated by restricted access to imports due to the trade safeguard measures currently in place, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was 860-900 (...Read More

EUROPE SECTIONS: Market looks for stability as price rises level off

June 17, 2021 / Staff reporter

Prices for steel hollow sections in Europe remained flat on Wednesday June 16 with feedstock costs remaining stable, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was 1,320-1,340 ($1,600-1,625) per tonne on June 16, unchanged week on week."Stocks are diminishing rapidly, and new rollings are hard to come by with hot-rolled...Read More

LIVE FUTURES REPORT 16/06: Mixed prices on LME ahead of US Fed statement

June 17, 2021 / Staff reporter

Price movements on the London Metal Exchange futures complex were mixed at the close of trading on Wednesday June 16, but were within the range of its Tuesday prices ahead of the US Federal Reserve's statement later in the day.Copper's three-month price, which fell by 4% on Tuesday to $9,569.50 per tonne, strengthened by 1% on Wednesday at 5pm to $9,667 per tonne. Its intraday low of $9,489 per to...Read More

China likely to sell copper stockpile at a discount to reduce price

June 17, 2021 / Staff reporter

Sources expect the Chinese government to sell its copper inventory at a slight discount to end consumers to combat the recent price spike in base metals, sources told Fastmarkets.As a country that is usually highly secretive about its buying and selling intentions China made a high-profile announcement to sell its copper, aluminium and zinc reserves in batches to participants in the downstream sec...Read More

GLOBAL COPPER WRAP: US spot premium widens; China market remains sluggish

June 17, 2021 / Staff reporter

Copper premiums traded as high as 8.5 cents per lb in the United States on Tuesday June 15, which remains the strongest physical market for cathodes, given continued weakness in China and an expected summer slowdown in Europe. US premium range widens on diverging market outlooks  China premiums drop further amid government announcement it will sell some strategic reserves  European mark...Read More

GLOBAL NICKEL WRAP: US premiums jump; miners' strike at Vale enters third week

June 17, 2021 / Staff reporter

A correction has been issued for this article. The...Read More

GLOBAL ZINC & LEAD WRAP: Global zinc premiums stable, US lead still at all-time high

June 17, 2021 / Staff reporter

Premiums for spot zinc material were stable in the week to June 15, with the US premium for lead holding at an all-time high. Zinc premiums in Europe are at their highest since 2019 due to low availability of spot material, but may drop in summer 2021. US lead premiums continue at their peak of 14.50-16.50 cents on tight supply and logistics issues, with the latter also affecting the European zinc...Read More

AT A GLANCE: Ezz Steel Q1 2021 earnings up on higher flat steel sales

June 17, 2021 / Staff reporter

A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.In briefEarnings increased in line with increased production of flat steel, specifically hot-rolled coil, and exports, the company said in a release to London Stock Exchange on Wednesday June 16."With respect to flat steel, a significant development has occurred in t...Read More

SOUTHERN EUROPE REBAR: Surging scrap costs, demand drive price uptrend

June 17, 2021 / Staff reporter

Increased feedstock costs as well as solid demand pushed the rebar price in Southern Europe up further in the week to Wednesday June 16. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe at 760-785 ($921-952) per tonne on Wednesday, up from 740-760 per tonne last week. The price has been rising steadily since early May when it stood at...Read More

EUROPE BEAMS: Uptrend continues, mills fill order books

June 17, 2021 / Staff reporter

European steel H-beam prices rose again on Wednesday June 16, with some mills closing their order books for July bookings, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was 1,000-1,030 ($1,212-1,249) per tonne on June 16, up from 970-1,000 per tonne one week earlier.Various European mills have stepped out of the market due t...Read More