Base metal stocks Articles

GLOBAL TIN WRAP: Premiums flat in all regions, Indonesian export uncertainty endures

April 25, 2019 / Staff reporter

Fastmarkets premiums held in all regions on Tuesday April 23 despite supply uncertainty from Indonesia and stocks held off-exchange. European buyers stay out of spot market.  The US market is heavily supplied and spot demand is quiet over the Passover/Easter holiday.  China's import window closed. European premiums hold despite falling LME tin price In Europe, Fastmarkets assessed the p...Read More

LIVE FUTURES REPORT 24/04: US-China trade resolution hopes boost Comex copper price

April 25, 2019 / Staff reporter

The Comex copper price inched higher in US morning trading on Wednesday April 24 amid positive signs the United States and China's trade impasse could be approaching a resolution. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 0.95 cents to reach $2.9030 per lb. The red metal has been unable to set a clear price direction over the past few week...Read More

GLOBAL ZINC & LEAD WRAP: European zinc market tumbles to 2009 low; global markets soften

April 25, 2019 / Staff reporter

A large backwardation in the cash/three-month spread put pressure on global zinc markets in the week to Tuesday April 23 with premiums in Europe at their lowest levels since 2009; while in the United States, market participants are still awaiting a second-quarter boost. European zinc market falls to 2009 low. US market unchanged, participants hopeful for uptick. Chinese zinc premium fal...Read More

NORTHERN EUROPE REBAR: Prices unchanged in quiet Easter market

April 25, 2019 / Staff reporter

The price range for rebar produced and delivered in Northern Europe has remained unchanged week on week on limited market activity, sources told Fastmarkets on Wednesday April 24.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was 535-550 ($601-618) per tonne delivered on Wednesday, unchanged from April 17.Following the long Easter weekend, a number of countries in...Read More

EUROPE WIRE ROD: EU prices remain stable in quiet market

April 25, 2019 / Staff reporter

The European domestic price for mesh-quality wire rod has remained flat week on week in a quiet market, market participants told Fastmarkets on Wednesday April 24.Following the long Easter holiday weekend, a number of countries in both Northern and Southern Europe, including Germany, Italy and Spain, will also celebrate...Read More

EUROPE BEAMS: Prices stable in Easter slowdown but low demand persists

April 25, 2019 / Staff reporter

Steel H-beam prices in both Northern and Southern Europe were stable in the week to Wednesday April 24 with market activity down to minimal levels because of the Easter holiday.Many market participants were away from the market over the week, while those that remained said that buying and selling activity had taken place at much reduced levels.As a result, the prices in the market did not change f...Read More

CHINA REBAR: Domestic prices continue to move lower amid soft demand

April 25, 2019 / Staff reporter

China's domestic rebar prices maintained their downward trend on Wednesday April 24 as buyers lowered procurement rates. Domestic Eastern China (Shanghai): 4,050-4,100 yuan ($604-610) per tonne, down 20-30 yuan per tonne Northern China (Beijing): 3,950-4,000 yuan per tonne, down 40-50 yuan per tonneRebar futures dropped further on Wednesday amid lower buying interest in the spot mar...Read More

CHINA HRC: Prices down on supply worries

April 25, 2019 / Staff reporter

China's hot-rolled coil prices dropped on Wednesday April 24 after mills lowered offers amid weak demand and concerns over rising supply.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,900-3,920 yuan per tonne, down 10-20 yuan per tonnePrices dropped after mills lowered offer prices in the morning session.A mill i...Read More

NAIS 2019: Egypt's DRI output to grow again in 2019

April 25, 2019 / Staff reporter

Egypt, the largest producer of direct-reduced iron (DRI) in Northern Africa, will increase its output further in 2019, Fastmarkets heard at the North Africa Iron & Steel Summit in Cairo on April 16-17.In 2019, DRI production in Egypt may reach 6.6 million tonnes, one steel producer in the country estimated, depending on the balance between the supply of natural gas to power the smelting process an...Read More

DAILY SCRAP REPORT: Mills maintain market silence as demand stays low

April 25, 2019 / Staff reporter

The Turkish steel producers have continued to stay away from the deep-sea scrap markets due to weak demand for finished steel, sources said on Wednesday April 24.Demand in the country's export markets was still limited because of the safeguarding imports quotas impose by the EU, the doubled Section 232 import tariffs in the United States, and import duties in Egypt.Suppliers in the Baltic Sea regi...Read More

IRON ORE DAILY: Prices slip amid futures, steel declines

April 25, 2019 / Staff reporter

Iron ore prices retreated on Wednesday April 24 following a downturn in the futures and steel markets.MB 62% Fe Iron Ore Index: $93.55 per tonne cfr Qingdao, down $0.98 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.33 per tonne cfr Qingdao, down $0.98 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.94 per tonne cfr Qingdao, down $0.94 per tonne. MB 58% Fe Premium Index: $83.70 per tonne...Read More

Steelmaking Raw Materials Trade Log, April 24, 2019

April 25, 2019 / Staff reporter

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreBHP, private tender, 110,000 tonnes of 61% Fe Mining Area C...Read More

COKING COAL DAILY: Chinese buyers wait on the sidelines for clearer cues

April 25, 2019 / Staff reporter

Participants in China were still sitting on the sidelines of the seaborne coking coal spot market on Wednesday April 24 while they waited for a clearer sense of direction in the domestic coke market.There have been talks in the market over a possible coke price hike by the end of April, according to various sources in China. "A coke plant in Hebei province has led the way, by proposing to increase...Read More

East Asian stainless steel prices fall due to declining nickel cost

April 25, 2019 / Staff reporter

Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week....Read More

LIVE FUTURES REPORT 24/04: LME base metals mixed; data, dollar-index high buoy economic optimism

April 25, 2019 / Staff reporter

Record highs in the S&P 500 and NASDAQ Composite indices, alongside a 2019 dollar-index high of 97.73, (at the close on April 23) boosted economic optimism with some base metals trading up in the morning session on April 24, while others remain marginally suppressed.United States' stocks recovered to a record degree on Tuesday April 23 in response to dovish rhetoric from the US Federal Reserve and...Read More

MORNING VIEW: LME base metals prices remain under pressure despite record-setting US equities

April 25, 2019 / Staff reporter

Trading across most of the base metals is leading to price weakness - this despite record-setting levels seen in the S&P 500 and Nasdaq Composite on Tuesday. The exception is aluminium, where prices have been edging higher in recent days.Asian equities give up early gains; in the US, earnings and dovish Federal Reserve sent shares to, or near to, record highsTop US officials travel to Beijing to c...Read More

GLOBAL COPPER WRAP: Chinese premiums soften on low buying appetite; European rates stable amid ample supply

April 25, 2019 / Staff reporter

Copper premiums in Asia softened this week amid a slump in spot inquiries and a continued contango in the metal's nearby cash/three-month spread on the London Metal Exchange, while continued availability of material in Europe kept premiums there flat. Lack of buying appetite softens Chinese copper premiums European participants question Italian copper consumption US market stable, participants co...Read More

LIVE FUTURES REPORT 24/04: SHFE zinc tumbles 1% on rising availability, firm dollar; rest fall

April 25, 2019 / Staff reporter

Zinc led the rest of the base metals traded on the Shanghai Futures Exchange downward during morning trading on Wednesday April 24, with stock inflows and a firm dollar weighing on the galvanizing metal's prices.A strong performance by the US dollar on Tuesday has dampened investors' appetite for commodity investment, in turn pressuring base metals prices on the SHFE this morning.The dollar index,...Read More

BMW locks in cobalt supply from Murrin Murrin, CTT

April 25, 2019 / Staff reporter

Carmaker BMW has locked in supply of cobalt metal produced at Murrin Murrin and CTT for the production of electric vehicles, market sources confirmed to Fastmarkets. Material will be supplied to BMW from 2020, sources added, though details on tonnage or price terms were not immediately available. About 1,800 tonnes per year of cobalt are produced at the CTT mine in Morocco in the form of broken ca...Read More

TITANIUM SNAPSHOT: Supply worries support market prices

April 25, 2019 / Staff reporter

Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More