Base metal stocks Articles

CHINA REBAR: Prices up on lower sales pressure

January 22, 2019 / Staff reporter

The upward momentum in China's rebar market strengthened on Monday January 21 with sellers being under less pressure to cut their inventories.Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($546-552) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,670-3,700 yuan per tonne, up 40 yuan per tonneRebar futures posted gradual increases over the last few days on positive macroeconomic...Read More

GLOBAL TUNGSTEN WRAP: Chinese APT price falls but concentrates price edges up on tightening availability

January 22, 2019 / Staff reporter

The price of ammonium paratungstate (APT) fell in China last week although the concentrates market edged up on tightening availability ahead of Lunar New Year. APT price falls in China; European price unchanged  Concentrates price edges up on tightening supply in China  Ferro-tungsten price in China moves down amid limited buying activity Fastmarkets MB assessed the fob China ammonium p...Read More

Turkish crude steel output down 0.56% in 2018 vs 2017

January 22, 2019 / Staff reporter

Turkey produced 37.311 million tonnes of crude steel in 2018, a 0.56% decrease compared with 2017, according to the Turkish Steel Producers Association (TD).In December 2018, crude steel production in the country was 2.9 million tonnes, a 11.04% year-on-year fall compared with 3.26 million tonnes produced in December 2017, the TD said last week.The decrease in Turkish crude steel production was la...Read More

China AM: Ferrous futures soften after release of industrial data

January 22, 2019 / Staff reporter

China's ferrous futures largely declined during morning trading on Monday January 21 amid the release of industrial data by the National Bureau of Statistics (NBS). Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,644 yuan ($538) per tonne, down 9 yuan per tonneJanuary hot-rolled coil: 3,520 yuan per tonne, down 5 yuan per tonneDalian Commodity Exchange January iron...Read More

China's crude steel output exceeds 900 mln tonnes in 2018

January 22, 2019 / Staff reporter

China's crude steel output rose to a new high in 2018 on healthy profit margins among mills and growth in downstream demand.The world's second-largest economy produced a total of 928.26 million tonnes of crude steel last year, the National Bureau of Statistics (NBS) said on Monday January 21. The bureau said this is up 6.6% from that in 2017.Chinese mills produced 1.11 billion tonnes of finished s...Read More

LIVE FUTURES REPORT 21/01: Mixed trading continues as uncertainty about China builds

January 22, 2019 / Staff reporter

The base metals complex showed mixed results in afternoon trading on Monday January 21, with London Metal Exchange-three month prices for copper, aluminium and nickel failing to live up to last week's universal closing rally.The focus of the market remains on China's fourth-quarter data, which showed a further slowing of the economy at the end of 2018, with gross domestic product (GDP) growing by...Read More

Turkish crude steel output down 0.56% in 2018 vs 2017

January 22, 2019 / Staff reporter

Turkey produced 37.311 million tonnes of crude steel in 2018, a 0.56% decrease compared with 2017, according to the Turkish Steel Producers Association (TD).In December 2018, crude steel production in the country was 2.9 million tonnes, a 11.04% year-on-year fall compared with 3.26 million tonnes produced in December 2017, the TD said last week.The decrease in Turkish crude steel production was la...Read More

TURKEY FERROUS SCRAP: Mills raise buy prices for local material on higher import costs

January 22, 2019 / Staff reporter

Domestic scrap prices in Turkey have increased over the past week, in line with the firmer costs for imported scrap, sources said on Monday January 21.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,450-1,630 ($272-305) per tonne delivered on January 21, widening upward from TRY1,450-1,590 per tonne last week.The change in the assessment came after...Read More

CIS STEEL SLAB: Market turns around on higher February deals

January 22, 2019 / Staff reporter

The CIS export slab market turned around because of deals made at higher prices in the second half of January, Fastmarkets was told on Monday January 21.Reduced availability of slabs as well as an improvement in demand for finished flat steel in the CIS market gave additional support to slab producers.Several cargoes of Ukrainian and Russian slab were reported booked in Europe at prices within the...Read More

LIVE FUTURES REPORT 21/01: Mixed trading continues as uncertainty about China builds

January 22, 2019 / Staff reporter

The base metals complex showed mixed results in afternoon trading on Monday January 21, with London Metal Exchange-three month prices for copper, aluminium and nickel failing to live up to last week's universal closing rally.The focus of the market remains on China's fourth-quarter data, which showed a further slowing of the economy at the end of 2018, with gross domestic product (GDP) growing by...Read More

IRON ORE DAILY: Prices rise amid futures, rebar gains

January 22, 2019 / Staff reporter

Physical iron ore prices continued to advance on Monday January 21 after exceeding $75 per tonne cfr last Friday, following gains in the futures and rebar markets.MB 62% Fe Iron Ore Index: $75.90 per tonne cfr Qingdao, up $0.20 per tonne. MB 62% Fe Pilbara Blend Fines Index: $76.74 per tonne cfr Qingdao, up $0.20 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $77.14 per tonne cfr Qingdao, up $0....Read More

CHINA HRC: Tightening supply, improving sentiment push up prices

January 22, 2019 / Staff reporter

China's hot-rolled coil prices maintained their strength on Monday January 21, particularly those in the export market, amid a drop in supply coupled with an improvement in sentiment.DomesticEastern China (Shanghai): 3,660-3,680 yuan ($540-543) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, widening downward by 10 yuan per tonnePrices were largely stable natio...Read More

DAILY SCRAP REPORT: Turkish mills pay more to keep production running

January 22, 2019 / Staff reporter

Turkish steel producers have accepted higher prices for scrap imports so that they can replenish their stocks and avoid halting production, although the finished steel market was still sluggish, sources said on Monday January 21.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 5...Read More

GLOBAL TUNGSTEN WRAP: Chinese APT price falls but concentrates price edges up on tightening availability

January 22, 2019 / Staff reporter

The price of ammonium paratungstate (APT) fell in China last week although the concentrates market edged up on tightening availability ahead of Lunar New Year. APT price falls in China; European price unchanged  Concentrates price edges up on tightening supply in China  Ferro-tungsten price in China moves down amid limited buying activity Fastmarkets MB assessed the fob China ammonium p...Read More

Sandfire submits $81mln offer for copper junior MOD

January 22, 2019 / Staff reporter

Copper-gold miner Sandfire Resources has submitted an offer of $80.8 million for fellow copper explorer MOD Resources, both companies announced on Monday January 21.Sandfire has made an offer of A$0.38 per share ($0.27) for MOD, a premium over the current valuation of A$0.22 per share, the two parties said in separate notices published by...Read More

LIVE FUTURES REPORT 21/01: Base metals have mixed morning after Chinese data release

January 22, 2019 / Staff reporter

Base metals on the London Metal Exchange complex consolidated in mixed morning trading on Monday 21 January, while market focus shifted to China's fourth-quarter data release.China's fourth-quarter GDP data was in line with expectations at 6.4%, down 0.1% from its previous recorded figure at 6.5%.''These numbers are basically in line with expectations, which were not optimistic,'' John Browning of...Read More

China's 'looser' aluminium winter cuts has limited effect after 7.4% increase in total output in 2018

January 22, 2019 / Staff reporter

China produced 35.8 million tonnes of aluminium in 2018, up 7.4% year on year, according to data released by China's Statistics Bureau on Monday January 21, suggesting the annual winter production cuts did little to slow output in the country. Chinese output in December 2018 reached 3.05 million tonnes, marking an 11.3% increase from the same period of last year. Market producers said the only mod...Read More

SHFE vs LME physical arbitrage 21/01: Copper, aluminium, zinc, nickel

January 22, 2019 / Staff reporter

Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday January 21 *Copper -$80.05 (-544.76 yuan) Aluminium -$338.41 (-2,303.02 yuan)  Zinc -$16.40 (-111.59 yuan) Nickel -$310.82 (2,115.27 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

METALS MORNING VIEW 21/01: Metals prices hold up well despite China's weak GDP

January 22, 2019 / Staff reporter

Despite weak Chinese gross domestic product (GDP) data that showed fourth quarter 2018 growth of 6.4%, after 6.5% in the prior quarter, the three-month base metals prices on the London Metal Exchange were for the most part holding up relatively well on Monday January 21, with prices just off slightly. The complex posted an average loss of 0.2%, with copper showing the largest reaction; the three-m...Read More

LIVE FUTURES REPORT 21/01: US-China trade optimism continues to buoy SHFE base metals prices

January 22, 2019 / Staff reporter

Base metals prices, barring those for tin, on the Shanghai Futures Exchange were up during Asian morning trading on Monday January 21, with residual optimism over trade talks between China and the United States helping to offset some weak Chinese data earlier this morning.Market sentiment had turned more bullish late last week following news that the US was mulling the removal of tariffs on Chines...Read More