Base metal stocks Articles

COKING COAL DAILY: Unexpected transaction boosts cfr China prices

January 23, 2019 / Staff reporter

A transaction in the seaborne coking coal market on Tuesday January 22 took participants by surprise, having been concluded at a higher price than expected, in contrast with prevailing sentiment.A February-laycan cargo of premium mid-vol hard coking coal was sold at around $195-196 per tonne cfr China to an end user in southern China, according to various sources. This is around $4 per tonne highe...Read More

BHP AT A GLANCE: December quarter production results

January 23, 2019 / Staff reporter

Summary of BHP's production results for the three months ended December 31, 2018.(year-on-year change)Copper416,000 tonnes, -3%Iron ore58 million tonnes, -6%Iron ore...Read More

China AM: Coking coal contract bucks downtrend in ferrous futures market

January 23, 2019 / Staff reporter

China's ferrous futures largely declined during morning trading on Tuesday January 22, apart from the coking coal contract, which ended slightly higher than its opening price. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,661 yuan ($539) per tonne, down 24 yuan per tonneMay hot-rolled coil: 3,573 yuan per tonne, down 13 yuan per tonneDalian Commodity Exchange May...Read More

Fanya to auction more than 30 tonnes of indium stocks - sources

January 23, 2019 / Staff reporter

The Fanya Exchange will auction 34.64 tonnes of indium stocks it holds in its warehouse at the end of the month, market sources told Fastmarkets on Tuesday January 22. Of the auctioned volume, 7.6 tonnes are stored in a Kunming warehouse of Changyue Feiping, a Chinese storage and logistics company, while the remaining 27.04 tonnes are in a local warehouse of Yunnan Postal Savings Bank. The stocks...Read More

LIVE FUTURES REPORT 22/01: LME Al price increases amid 37kt cancelation; zinc, lead trend higher

January 23, 2019 / Staff reporter

Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday January 22, with aluminium futures leading gains on more than 37,000 tonnes freshly canceled while broad strength in the US dollar index fueled downward pressure. Aluminium lead the complex with the most volumes traded over the morning at 4,616 lots as of 9:50am London time, while more than 50,000 tonnes o...Read More

CHINA HRC: Mills raise offers amid easing of selling pressure

January 23, 2019 / Staff reporter

Chinese steelmakers raised their offers on Tuesday January 22 in the absence of any selling pressure before the upcoming Chinese New Year holiday.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($544-547) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,660-3,680 yuan per tonne, up 30 yuan per tonneMany steelmakers in China raised their offers since they have secured enough orders for...Read More

METALS MORNING VIEW 22/01: Metals prices suffer after global growth outlook lowered

January 23, 2019 / Staff reporter

Once again the upside initiatives in three-month base metals prices on the London Metal Exchange have run into overhead resistance, with the complex down by an average of 0.4% this morning, Tuesday January 22.Other commodity prices have also shown weakness, which we put down to the focus of slower global growth after the International Monetary Fund (IMF) lowered its global growth outlook to 3.5% i...Read More

GLOBAL MANGANESE WRAP: Ore prices fall again with bearish sentiment also felt in alloys markets

January 23, 2019 / Staff reporter

Aggressive bidding and lower offer prices weighed on manganese ore prices in China, where inventories also fell sharply in the week ended Friday January 18. Manganese ore prices in China continue to fall  Manganese ore stocks in China slump  Ferro-manganese prices in Europe, China drop  Silico-manganese price fob India falls  Alloy prices stable in United States The manganese...Read More

Metals prices consolidate while awaiting fresh direction

23 January 2019 / Staff reporter

Three-month base metals prices on the London Metal Exchange had dipped in recent days on the back of global growth concerns and after follow-through buying from last week waned, but the complex is broadly up again with average gains of 0.3% this morning, Wednesday January 23. Tin, that has been a star performer this year, was bucking the trend with a 0.3% dip to $20,390 per tonne. The rest we...Read More

Tech Talk for Wednesday January 23rd 2019

23/01/2019 / Staff reporter

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. The Canadian Dollar slipped 0.07 to 75.04 cents U.S. following release of Canadian November Retail Sales at 8:30 AM EST. Consensus was a decrease of 0.6%. Actual was a drop of 0.9%. IBM gained $9.53 to $132.05 after reporting higher than consensus fourth quarter sales and earnings. Tesla...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

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

Trade log January 2019: Cobalt Sulfate

January 22, 2019 / Staff reporter

Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price at Co 20.5% basis is on a $ per lb basis. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cob...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

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

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

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

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

Slow European long steel market scuppers early-year hopes of prices rises

January 22, 2019 / Staff reporter

The European long steel markets have started 2019 in lethargic fashion, disappointing suppliers that were resolutely raising their offer prices just two months ago in anticipation of strong demand.In November, rebar producers were confident of better prices on higher raw material costs, a forecast of strong demand, and external factors such as critically low water levels in the Rhine river and its...Read More