Base metal stocks Articles

STEEL WEEK IN BRIEF: Asia scrap prices tumble; US HRC prices down to pre-232 levels; Voestalpine earnings slip...

November 17, 2018 / Staff reporter

Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample sup...Read More

LIVE FUTURES REPORT 16/11: LME lead price up 3% in dollar downturn; zinc stabilizes

November 17, 2018 / Staff reporter

Base metals futures on the London Metal Exchange rebounded at the close of trading on Friday November 16, led by a strong performance in the three-month lead price while a marked downturn in the US dollar index prompted follow-up buying. Trading for a time above $2,000 per tonne, the three-month lead price posted significant gains amid total LME lead stocks and remained at its lowest level since 2...Read More

Chile's Cochilco lowers copper price estimates for 2018, 2019

November 17, 2018 / Staff reporter

Chile's Copper Commission, or Cochilco, has lowered its copper price estimates for 2018 and 2019, while expecting an increase in prices for 2020, the state-run board said on Thursday November 15.In its quarterly report on the copper market, average copper prices should be $2.97 (297 cents) per lb this year, according to Cochilco, down from a previous $3 per lb forecast in July. The commission expe...Read More

LIVE FUTURES REPORT 16/11: Positive opening for LME base metals boosted by dollar dip; lead, nickel prices climb 1%

November 17, 2018 / Staff reporter

Base metals on the London Metal Exchange had a mixed start in morning trading on Friday November 16, with investor sentiment improving amid easing US-China trade tensions and a slight downturn in the US dollar index.Both lead and nickel futures were the biggest climbers over the morning, appreciating more than 1% respectively amid depleting LME stocks and strong demand from the electric vehicle an...Read More

EUROPE ALLOY STEEL SCRAP: Prices fall further as bearish outlook persists

November 17, 2018 / Staff reporter

Austenitic steel scrap prices fell further this week with the negative market factors that have developed in recent weeks remaining in place. The pressure on prices came from poor demand, decreasing nickel prices and a lack of confidence that the market will pick up early in 2019.In Europe, the price of imports of 18/8 stainless steel scrap solids was assessed at 950-970 ($1,076-1,098) per tonne c...Read More

TURKEY COATED FLAT STEEL: Prices fall on limited demand

November 17, 2018 / Staff reporter

Domestic prices for coated steel coil products in Turkey have moved down over the past week due to slow trading conditions, sources told Fastmarkets on Friday November 16."Demand is slow and sentiment is bearish, so the mills have had to decrease their prices," a trader...Read More

NON-FERROUS WEEK IN BRIEF: Fastmarkets ferro-alloys conference; Antofagasta expansion; OJSC Electrozinc plans for restart

November 17, 2018 / Staff reporter

Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week.Base metalsAntofagasta aims to increase copper capacity by 70,000 tonnes per year via a rebuild of its Los Pelambres mine in Chile at a cost of $1.3 billion, the Chilean copper producer said.The US Beer Institute has called on the United States government to scrutinize aluminium price...Read More

Investor Astor takes copper miner Atalaya back to court for $18 mln

November 17, 2018 / Staff reporter

Astor Management, a private company based in Switzerland, plans to pursue European copper producer Atalaya Mining in the UK Supreme Court for $18 million in so-called "uptick payments", the Swiss company said on Thursday November 15.An earlier dispute over loans and investment agreements between the companies in the years between 2000 and now was settled by the UK High Court and Court of Appeal.Th...Read More

LIVE FUTURES REPORT 16/11: LME lead price up 3% in dollar downturn; zinc stabilizes

November 17, 2018 / Staff reporter

Base metals futures on the London Metal Exchange rebounded at the close of trading on Friday November 16, led by a strong performance in the three-month lead price while a marked downturn in the US dollar index prompted follow-up buying. Trading for a time above $2,000 per tonne, the three-month lead price posted significant gains amid total LME lead stocks and remained at its lowest level since 2...Read More

Chile's Cochilco lowers copper price estimates for 2018, 2019

November 17, 2018 / Staff reporter

Chile's Copper Commission, or Cochilco, has lowered its copper price estimates for 2018 and 2019, while expecting an increase in prices for 2020, the state-run board said on Thursday November 15.In its quarterly report on the copper market, average copper prices should be $2.97 (297 cents) per lb this year, according to Cochilco, down from a previous $3 per lb forecast in July. The commission expe...Read More

BATTERY RAW MATERIALS MARKET REPORT 16/11: Cobalt prices show weakness on thin trading, ailing Chinese market

November 17, 2018 / Staff reporter

An overview of the battery raw materials markets and their price moves from the past week.Read More

INTL FERRO-ALLOYS CONF: Eight things we learned in Lisbon

November 17, 2018 / Staff reporter

Fastmarkets MB presents the key things we learned when the ferro-alloys community gathered for a busy week of meetings and contract negotiations in Lisbon at the 34th International Ferro-alloys Conference on November 11-13. The global vanadium deficit will continue: Ferro-vanadium and vanadium pentoxide prices sit at or near historic highs due to significant global supply concerns, and market part...Read More

LIVE FUTURES REPORT 16/11: Comex copper rally reaches fourth day

November 17, 2018 / Staff reporter

Comex copper prices hit a multi-week high in morning tradingin the United States on Friday November 16, amid improving macroeconomic fundamentals and with trade talks to be held between the US and China.The copper price for December settlement on the Comex division of the New York Mercantile Exchange rose by 2.25 cents to $2.7690 per lb on Friday. Earlier in the trading session, the contract peake...Read More

US government asked to investigate aluminium market irregularities, including warehousing

November 17, 2018 / Staff reporter

The US Beer Institute has called on the United States government to scrutinize aluminium price irregularities and distortions, referring to speculative activity to warehouse and withhold metal as being among the reasons for high premiums. James McGreevy, president and chief executive officer of the Beer Institute, noted past comments by US Secretary of Commerce Wilbur Ross that "antisocial behavio...Read More

STEEL WEEK IN BRIEF: Asia scrap prices tumble; US HRC prices down to pre-232 levels; Voestalpine earnings slip...

November 17, 2018 / Staff reporter

Metal Bulletin reviews the major stories that have affected the steel market during the week ended Friday November 16.Raw MaterialsThe Singapore Exchange will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December.Asia ferrous scrap prices are still falling due to weak demand from steel mills and ample sup...Read More

US cold-rolled coil, coated steel prices fall again

November 17, 2018 / Staff reporter

Cold-rolled coil and coated steel base prices declined this past week in the United States, in line with lower feedstock pricing.Fastmarkets assessed the price of domestic CRC at $45.50 per hundredweight fob Midwest mill on Thursday November 15, down by 1.1% from $46 per cwt a week earlier.Fastmarkets' assessment for the hot-dipped galvanized base price also dropped to $45.50 per cw...Read More

TURKEY FLAT STEEL: Domestic prices to move down on slow trading

November 17, 2018 / Staff reporter

Domestic prices for steel coil products in Turkey were expected to move down due to limited demand, sources told Fastmarkets on Friday November 16."Demand is barely there, and there were hardly any deals done this week," a source said."There might be more activity seen next week, but most likely the mills will not be able to maintain the current level of prices," he added.Fastmarkets' weekly price...Read More

Indian domestic billet prices fall on weak post-Diwali demand

November 17, 2018 / Staff reporter

Domestic Indian prices for steel billet fell this week by at least 400 rupees ($6) per tonne, with demand for semi-finished products remaining weak on account of subdued sales of finished products such as rebar.Indian domestic secondary billets, mainly produced by the induction process, ended the week priced at 33,000-33,200 rupees ($459-462) per tonne ex-mill on Friday November 16. This was down...Read More

NORTH AMERICAN MORNING BRIEF 16/11: Southeast Asian steel billet import prices fall; SGX to launch high-grade iron ore derivatives; China rebar price lowers

November 17, 2018 / Staff reporter

The latest metal markets news and price moves to start the North American day on Friday November 16. Base metals on the London Metal Exchange had a mixed start during morning trading on Friday November 16, with investor sentiment improving amid easing US-China trade tensions and a slight downturn in the US dollar index.Both lead and nickel futures were the biggest climbers over the morning, apprec...Read More

Southeast Asia billet market slumps on lower offers, pessimism

November 17, 2018 / Staff reporter

The import price for steel billet in Southeast Asia fell on Friday November 16 after suppliers offered cheaper cargoes, while negative sentiment intensified on China's possible return to the export market.Fastmarkets' daily price assessment for billet imported into Southeast Asia was $495-502 per tonne cfr Manila on Friday, widening downward by $5 per tonne from $500-502 per tonne cfr the previous...Read More