Base metal stocks Articles

CHINA REBAR: Safety inspections to last until end of June; steel output likely to fall

June 18, 2021 / Staff reporter

China's domestic rebar prices continued dropping on Thursday June 17, but the pace of the decline was much slower after a pick-up in futures values driven by market participant expectations of a fall in supplies.DomesticEastern China (Shanghai): 4,970-5,000 yuan ($773-778) per tonne, down by 10 yuan per tonneThe Work Safety Commission of China's State Council has sent teams to steel mills to check...Read More

LIVE FUTURES REPORT 17/06: LME copper falls 2.1% amid dollar strength, others also weaker

June 18, 2021 / Staff reporter

Copper's price fall and a higher US dollar index were the main factors in a decline in London Metal Exchange base metals prices for a fourth day on the morning of Thursday June 17, with most down by at least 1%.The three-month copper contract on the LME was at $9,459.50 per tonne at 9am London time on Thursday, down by 2.1% from its $9,667 per tonne closing price on Wednesday. The contract fell to...Read More

Zinc production in Yunnan to fully resume by mid-June

June 18, 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: Key takeaways from the latest Base Metals Market Tracker

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of base metals analysts are ready to view, including an upgrade to our aluminium price forecasts.Aluminium: Price forecasts raisedWe correctly expected the macro reflationary theme to raise the prices for all base metals but, with it being the base metal with by far the weakest fundamentals, we had expected the price of aluminium to underperform relative...Read More

RESEARCH: Key takeaways from the latest Base Metals Market Tracker

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.These include an increase in our copper mine disruption estimates, upgrades to our production outlook for Indonesian nickel pig iron (NPI), a smaller refined zinc surplus, and an upgrade to our zinc price forecasts.Aluminium: Big disconnect between price and fundamentalsAluminium has extended its uptrend on the London Metal...Read More

RESEARCH: HDG, tinplate contract prices set for big hike

June 18, 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 18, 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 18, 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 18, 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 18, 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: Ferro-alloy prices forecast to remain elevated through Q2 2021 on supply shortfall and rising demand

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:  Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation issue...Read More

OUTLOOK: Ferro-chrome market to adapt as tight supply in China runs into Q2

June 18, 2021 / Staff reporter

Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More

RESEARCH: Ore and alloy prices forecast to maintain momentum through Q1

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:In a strong start to the year, January saw ore and alloy pricing gains across all markets priced by Fastmarkets - with the exception of Chinese silicon metal export prices, which retreated slightly last month after posting impressive gains in December 2020.The combination of i...Read More

RESEARCH: Key takeaways from Coaltrans Asia; what to expect for scrap, metallics demand in China

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Fastmarkets analysts were invited to present our outlook for the coking coal market at Coaltrans Asia, held online on November 23-25. One of the key topics at the event was the trade tensions between China and Australia, which overtook Mongolia to become the largest coking coal exporter to China this year...Read More

RESEARCH: Supply boost threatens iron ore price spike

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore remains the most bullish commodity of the year, with prices fuelled by Chinese demand and supply disruptions in Brazil, along with bullish sentiment. But prices are expected to come down because Brazilian exports have begun to recover, and have reached their highest level since the Brumadinho dam disaster in 2019. W...Read More

RESEARCH: Brazil's iron ore export volumes recovering; mildly positive outlook for met coal

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More

RESEARCH: Iron ore, met coal diverge while pressure grows for China scrap, metallics prices

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese blast furnace (BF) utilization rates have stagnated and iron ore port stock volumes are rising, reaching their highest levels since March, which suggests that iron ore supply is becoming excessive while demand is not growing. Unsurprisingly, prices dropped last week and we expect the trend to continue. The market has...Read More

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

June 18, 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

RESEARCH: EU set to impose import duties on Indian, Indonesian stainless steel

June 18, 2021 / Staff reporter

The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More