Base Metal Stocks Articles

LIVE FUTURES REPORT 08/02: Comex copper price stages modest recovery

February 08, 2018 / Dalton Barker

Comex copper prices bounced back on Thursday February 8 after crashing to a multi-week low the day before, with investors still upbeat on global growth prospects for 2018. Copper for March settlement on the Comex division of the New York Mercantile Exchange rose 1.00 cents or 0.3% to $3.0975 per lb. Yesterday, the metal touched $3.1060, the weakest since January 23. "Downside prices risks are like...Read More

METALS MORNING VIEW 08/02: Panic over but base metals prices remain fragile

February 08, 2018 / Boris Mikanikrezai

Base metals traded on the London Metal Exchange are little changed this morning, Thursday February 8, with copper (+0.5%) and zinc (+0.5%) the only metals in positive territory, while the rest are under slight downward pressure. Volume remains healthy, however, with 18,941 lots traded as of 07.16 am London time.The base metals complex seems to be undermined by a more pronounced appreciation in the...Read More

ArcelorMittal Mexico to build 2.5 mln tpy hot strip mill

February 08, 2018 / Viral Shah

ArcelorMittal Mexico is to build a 2.5 million tonne per year capacity hot strip mill and a 650,000 tpy hot skin pass mill at its L??zaro C??rdenas site in Michoac??n, Southern Mexico.Both mills are planned to start up in 2020."This [project] will enable ArcelorMittal L??zaro C??rdenas to process the slabs produced in its works on site," equipment provider Primetals Technologies said on...Read More

EUROPE HDG: Domestic prices continue to rise on strong sentiment

February 08, 2018 / Maria Tanatar

Domestic prices in Europe for hot-dipped galvanized coil (HDG) have increased again this week, following the upward trend settled in the region's wider flat steel markets, sources told Metal Bulletin on Thursday February 8.Prices for domestic hot-rolled coil (HRC) have increased by ?,?10-20 ($12-25) per tonne in the EU this week.And Metal Bulletin's weekly price assessment for domestic HDG in Sout...Read More

CHINA HRC: Domestic prices flat amid weak trading interest

February 08, 2018 / Gladdy Chu

China's domestic hot-rolled coil prices stabilized on Thursday February 8 amid weak trading interest on both sides of the market, which has resulted in a slight increase in inventory levels ahead of the Chinese New Year.DomesticEastern China (Shanghai): 4,110-4,130 yuan ($656-659) per tonne, unchangedNorthern China (Tianjin): 4,000-4,030 yuan per tonne, unchangedDomestic prices held steady amid sp...Read More

US import rebar prices rise, domestic prices unchanged

February 08, 2018 / Nat Rudarakanchana

Import rebar prices in the United States have edged higher since mid-January, but domestic prices are flat from three weeks ago while supply appears tight following an accepted $40-per-ton increase, market participants said.American Metal Market's assessment for import rebar cfr Houston narrowed up to $572-576 per ton from $562-576 per ton on January 17. Meanwhile, the fob mill asse...Read More

TURKEY LONG STEEL: Domestic prices up on costlier scrap

February 08, 2018 / Cem Turken

Turkish domestic rebar and wire rod prices have gone up over the past week, amid increasing scrap prices, sources said on Thursday February 8.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-575 per tonne ex-works, up from the $550-565 per tonne of last week."The rebar prices are increasing due to rising scrap import values. It seems the market will...Read More

TURKEY LONG STEEL EXPORTS: Rebar, wire rod prices up as export markets recover

February 08, 2018 / Cem Turken

Turkish rebar and wire rod export prices have advanced over the past week on strengthening demand, sources told Metal Bulletin on Thursday February 8.A number of Turkish steel mills were heard selling rebar to North America, the EU, Asia and Africa this week.The rebar sales into the United States and Canada were done at $625-630 per tonne cfr theoretical weight, equivalent to around $550-560 per t...Read More

CIS PIG IRON: Prices stable while market waits for clearer direction

February 08, 2018 / Vlada Novokreshchenova

CIS export pig iron prices were mostly stable in the week ended Thursday February 8 while the market waited for clearer trends to emerge in raw materials, scrap in particular.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region was $350-375 per tonne fob Black Sea on February 8, unchanged week on week.A cargo of Russian material was heard sold to the United Stat...Read More

ArcelorMittal Mexico to build 2.5 mln tpy hot strip mill

February 08, 2018 / Viral Shah

ArcelorMittal Mexico is to build a 2.5 million tonne per year capacity hot strip mill and a 650,000 tpy hot skin pass mill at its L??zaro C??rdenas site in Michoac??n, Southern Mexico.Both mills are planned to start up in 2020."This [project] will enable ArcelorMittal L??zaro C??rdenas to process the slabs produced in its works on site," equipment provider Primetals Technologies said on...Read More

DAILY SCRAP REPORT: Prices up as Turkish mills return for more March cargoes

February 08, 2018 / Cem Turken

The Turkish steel mills returned to the deep-sea scrap market for a number of cargoes with prices going up on Thursday February 8.Steel producers in the country booked at least four deep-sea cargoes, totaling 137,000 tonnes, late on February 7.A steel mill in the Iskenderun region booked a US cargo, comprising 23,000 tonnes of HMS 1&2 (80:20) at $349.50 per tonne, 20,000 tonnes of shredded at $354...Read More

ArcelorMittal Mexico to build 2.5 mln tpy hot strip mill

February 08, 2018 / Viral Shah

ArcelorMittal Mexico is to build a 2.5 million tonne per year capacity hot strip mill and a 650,000 tpy hot skin pass mill at its L??zaro C??rdenas site in Michoac??n, Southern Mexico.Both mills are planned to start up in 2020."This [project] will enable ArcelorMittal L??zaro C??rdenas to process the slabs produced in its works on site," equipment provider Primetals Technologies said on...Read More

TURKEY STEEL BILLET: Import prices dip but export, domestic prices stable

February 08, 2018 / Cem Turken

Turkish imported billet prices have gone down slightly over the past week, while domestic and export prices remained stable, sources said on Thursday February 8.The Turkish customers slowed their demand for CIS-origin billet after booking a few cargoes at $505 per tonne cfr.The CIS suppliers then reduced their...Read More

EGYPT STEEL BILLET, REBAR: Import billet prices narrow but local rebar stable

February 08, 2018 / Serife Durmus

Steel billet import prices in Egypt narrowed but domestic rebar prices remained unchanged in the week ended Thursday February 8.Billet import prices narrowed with new offers heard but demand for the material was weak."There is no buying because rebar prices are unchanged in Egypt and stocks are high," a trader told Metal Bulletin on Thursday."There is not much demand because...Read More

Molybdic oxide, ferro-molybdenum prices bounce on demand

February 08, 2018 / Declan Conway

Renewed demand in the European molybdic oxide and ferro-molybdenum markets has pushed prices higher this week after dipping the week before when slower demand encouraged profit-taking, sources told Metal Bulletin. Metal Bulletin assessed molybdic oxide prices at $12.10-12.50 per lb in-warehouse Rotterdam on Wednesday February 7, up 50 cents from Friday. The market was assessed at $9.80-9.90 p...Read More

China AM: Ferrous futures little changed

February 08, 2018 / Jessica Zong

China's ferrous futures ended the morning trading session on Thursday February 8 little changed from their opening prices. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,937 ($628) per tonne, up 7 yuan per tonne May hot-rolled coil: 4,029 yuan per tonne, up 16 yuan per tonne Dalian Commodity Exchange May iron ore: 522.50 yuan per tonne, down 2 yuan per tonneMay cok...Read More

East Asian stainless steel prices edge up on strong yuan, fewer offers

February 08, 2018 / Fiona Lam

The appreciation of the Chinese currency against the US dollar and the suspension of export offers ahead by several mills ahead of the Lunar New Year resulted in East Asian stainless steel prices rising slightly over the past week.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,250-2,320 per tonne cif East Asian ports for the week ended Wednesday Febru...Read More

ArcelorMittal Mexico to build 2.5 mln tpy hot strip mill

February 08, 2018 / Viral Shah

ArcelorMittal Mexico is to build a 2.5 million tonne per year capacity hot strip mill and a 650,000 tpy hot skin pass mill at its L??zaro C??rdenas site in Michoac??n, Southern Mexico.Both mills are planned to start up in 2020."This [project] will enable ArcelorMittal L??zaro C??rdenas to process the slabs produced in its works on site," equipment provider Primetals Technologies said on...Read More

CIS PIG IRON: Prices stable while market waits for clearer direction

February 08, 2018 / Vlada Novokreshchenova

CIS export pig iron prices were mostly stable in the week ended Thursday February 8 while the market waited for clearer trends to emerge in raw materials, scrap in particular.Metal Bulletin's export price assessment for high-manganese pig iron from the CIS region was $350-375 per tonne fob Black Sea on February 8, unchanged week on week.A cargo of Russian material was heard sold to the United Stat...Read More

LIVE FUTURES REPORT 08/02: LME copper struggles to recover; zinc, lead recoup losses

February 08, 2018 / Alice Mason

Base metals prices on the London Metal Exchange mostly recovered from early morning lows at the close on Thursday February 8, but copper prices remained downbeat.Copper closed $35 lower after crashing over 2.4% on Wednesday, prices remain below $6,900 per tonne following further deliveries into LME-listed warehouses. "Copper was weaker earlier on news that LME stocks rose by another 21,000 tonnes...Read More

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