Base metal stocks Articles

China AM: Ferrous futures post mid-week surge

November 15, 2018 / Staff reporter

China's ferrous futures rose across the board during morning trading on Wednesday November 14, following the release of data showing higher-than-expected industrial output in October.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,926 yuan ($564) per tonne, up 57 yuan per tonneJanuary hot-rolled coil: 3,617 yuan per tonne, up 34 yuan per tonneDalian Commodity Ex...Read More

ASIAN MORNING BRIEF 15/11: LME base metals move higher on crude oil rebound; MJP primary aluminium stocks down in October, Marubeni says; ICDX tin trades halt due to supply disruptions

November 15, 2018 / Staff reporter

The latest news and price moves to start the Asian day on Thursday November 15.Base metal prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the United States' dollar index. Read more in our live futures report.Here are how prices looked at the cl...Read More

EUROPE WIRE ROD: Market starts to rise as import quota becomes a factor

November 15, 2018 / Staff reporter

European prices for mesh-quality wire rod rose across the Northern and Southern parts of the continent on Wednesday November 14, with the volume available in the EU's import quota continuing to go down.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe narrowed upward to 540-560 ($608-630) per tonne delivered on Wednesday, from 535-560 per...Read More

SOUTHERN EUROPE REBAR: Low end of price range rises again as sellers push offers

November 15, 2018 / Staff reporter

The price for rebar produced and delivered in Southern Europe pushed slowly upward again on Wednesday November 14, with sellers offering higher prices due to high costs but consumers so far unwilling to commit to large-volume deals.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe narrowed upward to 530-535 ($597-602) per tonne delivered on Wednesday, from 520-535 per tonn...Read More

DAILY SCRAP REPORT: Weak rebar prices, increasing scrap supply keep mills out of market

November 15, 2018 / Staff reporter

The Turkish steel mills continued their silence in the deep-sea scrap markets for another day on Wednesday November 14, because of a softening rebar market and increasing scrap supply in Europe, Fastmarkets was told.After booking two cargoes from the United States late last week, Turkish mills paused their purchases. Meanwhile, rebar prices have shown a downturn with news of recent sales at $506-5...Read More

IRON ORE DAILY: Market mixed amid tightness of seaborne Australian cargoes

November 15, 2018 / Staff reporter

Iron ore prices were mixed on Wednesday November 14 with supply tightness and higher premiums reported for December-arrival Pilbara Blend fines.MB 62% Fe Iron Ore Index: $75.91 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.71 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.25 per tonne cfr Qingdao, up $0.53 per tonne.MB 58% F...Read More

Vietnam buys some 30,000 tonnes of Japanese H2 scrap

November 15, 2018 / Staff reporter

Vietnam, a major consumer of scrap in Asia, has purchased at least 30,000 tonnes of Japanese H2 materials this week.Deals involving at least two bulk shipments bound for southern Vietnam were heard concluded around $329-330 per tonne cfr Vietnam.This suggests that fob Japan prices have fallen further from last week's level of 34,700-35,000 ($305-307) per tonne after a tender held by the Kanto Tet...Read More

CHINA REBAR: Domestic prices tumble on despite rising futures

November 15, 2018 / Staff reporter

China's domestic rebar market maintained its downward trend on Wednesday November 14 despite rising futures. Domestic Eastern China (Shanghai): 4,390-4,430 yuan ($631-637) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,180-4,230 yuan per tonne, down 70 yuan per tonneAmid deteriorating air quality in northern China over the past couple of days, a few steel mills in the region have...Read More

INTL FERRO-ALLOYS CONF: Manganese ore price fall more likely than silico-manganese rally

November 15, 2018 / Staff reporter

Manganese ore prices are overheated compared with production costs and manganese alloy prices, making them prone to a decline next year, panelists said at Fastmarkets' 34th International Ferro-alloys conference in Lisbon this week. Manganese ore prices have trended higher since May this year. Fastmarkets MB's 44% manganese ore index was last calculated at $7.13 per dry metric tonne unit dmtu,...Read More

Global trade conflicts pressure Voestalpine's H1 earnings down 11%

November 15, 2018 / Staff reporter

Special steelmaker Voestalpine attributed an 11% fall in its earnings for the first half of 2018 to continuing global trade conflicts, it said late last week.The Austrian company reported a decline of 11.2% in earnings before interest, taxes, depreciation and amortization (Ebitda) over April-September 2018, the first half of its financial year, to 860 million ($969 million). This compared with 969...Read More

INTL FERRO-ALLOYS CONF: Vanadium rally must turn, but prices will settle at higher base

November 15, 2018 / Staff reporter

Vanadium prices will find a much higher base than their 2015 lows when they inevitably fall, due to a structural shift in the global vanadium market, according to Amy Bennett, principal consultant at Fastmarkets MB. "Ferro-vanadium will not stay above $100 per kg for eternity [and] at some point there will be less of a panic to get material," delegates heard at Fastmarkets' 34th International Ferr...Read More

EUROPE SECTIONS: Prices flat despite threat of mill increases

November 15, 2018 / Staff reporter

Prices for hollow steel sections in Northern Europe were flat this week amid stable market conditions, Fastmarkets heard on Wednesday November 14.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was 640-660 ($720-743) per tonne delivered on November 14, unchanged week on week.Last week, hollow section prices widened by 10 per tonn...Read More

TURKEY PIPE EXPORTS: Weak demand sends prices down

November 15, 2018 / Staff reporter

Turkish steel pipe export prices continued to weaken amid limited interest for the material in the country's major export markets, sources said on Wednesday November 14.Steel pipe producers in Turkey were offering 2mm wall thickness EN10219-standard, grade-S235 tube at around $600-610 per tonne fob, compared with last month's offers at $640-650 per tonne.Fastmarkets' monthly...Read More

Global trade conflicts pressure Voestalpine's H1 earnings down 11%

November 15, 2018 / Staff reporter

Special steelmaker Voestalpine attributed an 11% fall in its earnings for the first half of 2018 to continuing global trade conflicts, it said late last week.The Austrian company reported a decline of 11.2% in earnings before interest, taxes, depreciation and amortization (Ebitda) over April-September 2018, the first half of its financial year, to 860 million ($969 million). This compared with 969...Read More

MJP aluminium stocks down 1% in October vs September, Marubeni says

November 15, 2018 / Staff reporter

Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama slipped 1% month on month in October, according to the latest data from major Japanese trading house Marubeni Corp. The data, which was published on Wednesday November 14, also shows that total aluminium stocks at the three ports came to 317,300 tonnes at the end of last month.  On a y...Read More

EUROPE HRC: Domestic prices slide in south on weak demand

November 15, 2018 / Staff reporter

Domestic prices for hot-rolled coil (HRC) are down over the past week in Southern Europe, sources told Fastmarkets on Wednesday November 14.The decrease was the result of slow trading and competitive import offers from Turkey, market participants said.Southern EuropeFastmarkets' domestic price assessment for HRC in Southern Europe was 480-525 ($540-591) per tonne ex-works on November 14, down from...Read More

EUROPE WIRE ROD: Market starts to rise as import quota becomes a factor

November 15, 2018 / Staff reporter

European prices for mesh-quality wire rod rose across the Northern and Southern parts of the continent on Wednesday November 14, with the volume available in the EU's import quota continuing to go down.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe narrowed upward to 540-560 ($608-630) per tonne delivered on Wednesday, from 535-560 per...Read More

GLOBAL NICKEL WRAP: Nickel premiums flat worldwide

November 15, 2018 / Staff reporter

Nickel premiums in China, the United States and Europe remained unchanged over the week amid limited activity, an unstable import window in Shanghai and participants' absence from the market. An open but unstable import window kept premiums in Shanghai flat Subdued activity in the US nickel market maintains premiums European nickel market quiet with long-term in focusShanghai nickel premiums uncha...Read More

ASIAN MORNING BRIEF 15/11: LME base metals move higher on crude oil rebound; MJP primary aluminium stocks down in October, Marubeni says; ICDX tin trades halt due to supply disruptions

November 15, 2018 / Staff reporter

The latest news and price moves to start the Asian day on Thursday November 15.Base metal prices on the London Metal Exchange were predominantly higher at the close of trading on Wednesday November 14, boosted by a steady rebound in global benchmark crude oil futures and a marginal retreat in the United States' dollar index. Read more in our live futures report.Here are how prices looked at the cl...Read More

NORTH AMERICAN MORNING BRIEF 14/11: China copper demand/supply outlook; US copper premiums up; zinc under pressure

November 15, 2018 / Staff reporter

The latest metal markets news and price moves to start the North American day on Wednesday November 14. Base metals on the London Metal Exchange were mostly lower during morning trading, with prices weakened by a prolonged sell-off in crude oil markets while continued strength in the US dollar index increased downward pressure. Falling by just under 1% over the morning, the three-month nickel...Read More