Base metal stocks Articles

Chinese indium market participants retreat on announcement of second Fanya auction

April 19, 2019 / Staff reporter

The Chinese domestic indium price dropped by 4% week on week on Wednesday April 17 in response to news that the Fanya Metal Exchange will again auction 34.64 tonnes of the indium stock it holds in its warehouse, after the first auction in January failed to attract any bidders. The stock will be auctioned via Alibaba judicial online platform at 10am Beijing time on April 24 and 10am Beijing time on...Read More

LIVE FUTURES REPORT 18/04: LME base metals universally suppressed in morning trading; weak EU data overtakes China data optimism

April 19, 2019 / Staff reporter

Base metals price on the London Metal Exchange were all trading down on Thursday April 18 after the previous day's boost from positive Chinese industrial production and retail data was replaced by bearish sentiment on weak European data, in particular German PMI figures. Base metals prices spiked on Wednesday when positive Chinese data sparked a spate of bullish consumption, but analysts consider...Read More

'Favorable' market boosts South32 YTD manganese ore output to record high, production guidance raised

April 19, 2019 / Staff reporter

South32 has reported record year-to-date manganese ore output in the current 'favorable' market and has increased its 2019 annual production guidance by 4% in both Australia and South Africa.The miner reported 4.25 million tonnes of total manganese production for the nine months of the 2019 financial year beginning in June 2018, up 1% year on year. For the January-March third quarter, product...Read More

CHINA COBALT SNAPSHOT: Metal, salts prices unchanged amid low activity

April 19, 2019 / Staff reporter

Key data from the Wednesday April 17 pricing session in Shanghai. Key driversChina's cobalt market was broadly stable on Wednesday following marginal upticks in international cobalt metal prices at the end of last week, which caused buyers to adopt a wait-and-see stance and thus stifled trading activity. Fastmarkets MB assessed the standard-grade cobalt price at $15.35-16.75 per lb on April 12, na...Read More

Cobalt rebound slows but underpinned by nearby tightness

April 19, 2019 / Staff reporter

Cobalt prices continued their recovery on Wednesday April 17, although gains were more muted than in recent weeks as buyers assessed their restocking needs after recent price increases. Fastmarkets assessed standard-grade cobalt prices at $15.60-16.75 per lb, in-warehouse, on April 17, up from $15.35-16.75 per lb previously.  Alloy-grade prices rose to $16.85-17.65 per lb, up 20 cents on...Read More

PEOPLE MOVES: Jeff Gerard appointed Katanga CEO, head of Glencore DRC assets

April 19, 2019 / Staff reporter

Jeff Gerard has been appointed chief executive officer of Katanga Mining, effective May 2, following the resignation of Danny Callow.As well as being CEO of Katanga Mining, Gerard will be head of Glencore's assets in the...Read More

Swedish steel distributor Tibnor completes $68m purchase of Danish distributor Sanistl

April 19, 2019 / Staff reporter

Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanistl, Denmark's second largest steel distributor, it said on Thursday April 17.The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanistl's automated steel distribution center in Taulov, Denmark, four sales offices in Den...Read More

Excess supply weighs on stainless HRC prices in East Asia

April 19, 2019 / Staff reporter

Import prices for stainless cold-rolled coil in East Asia were mostly steady over the past week due to soft demand and a stable nickel market, while those for stainless hot-rolled coil fell due to excess spot supply.Stainless CRCFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia was $2,030-2,100 per tonne cif on Wednesday April 17, unchanged fr...Read More

Weak demand, increased supply weigh on China's stainless steel prices

April 19, 2019 / Staff reporter

China's stainless steel prices dropped over the past week on sustained weakness in demand and rising inventory levels in the spot market.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,100-14,500 yuan ($2,106-2,166) per tonne including value-added tax for the week ended Wednesday April 17, down 300 yuan per tonne from a wee...Read More

ASIA FERROUS SCRAP: Mill stoppages dampen spot prices but rebound expected

April 19, 2019 / Staff reporter

Ferrous scrap prices in Asia continued to slide this week due to a series of mill stoppages in the region, market sources told Fastmarkets MB.The weak demand led traders to divert excess supply to other key markets.But market sources think prices have likely bottomed out and should experience a rebound soon.VietnamThe Fastmarkets MB import price assessment for bulk cargoes of heavy melting scrap 1...Read More

European steel demand growth to slow on trade uncertainties, Brexit - Worldsteel

April 19, 2019 / Staff reporter

European demand for finished steel products is forecast to grow by 0.3% year on year in 2019 to 170.2 million tonnes amid a 'deteriorating trade environment and uncertainty over Brexit', according to the World steel association's (Worldsteel) latest short-range outlook."We expect slower growth in demand for steel in the major EU economies (especially in those more export dependent) in 2019," World...Read More

LIVE FUTURES REPORT 17/04: High-vol trading pushes LME copper to fresh 2019 high

April 18, 2019 / Staff reporter

Copper's three-month price on the London Metal Exchange climbed above $6,600 per tonne at the close of trading on Wednesday April 17, buoyed by strong GDP figures out of China while a softer dollar index below the psychological level of 97 supported afternoon buying.Volumes traded in the red metal reached their highest level since March 22 over the day, with more than 24,000 lots changing hands by...Read More

GLOBAL NICKEL WRAP: Chinese premiums firm in anticipation of opening import window; bearish sentiment weighs on EU briquette premium

April 18, 2019 / Staff reporter

Chinese nickel premiums strengthened on Tuesday April 16 due to optimism that the import window will open, while the European nickel briquette premium softened on bearish sentiment. Chinese premiums strengthen ahead of import window opening European briquette premium slides on bearish sentiment US premiums hold firm, retain previous gains Chinese premiums rise to meet import window open...Read More

INTL ZINC & LEAD CONF: Lead price could rebound to $2,100/t in 2019 before falling again - Macquarie

April 18, 2019 / Staff reporter

The lead price could rebound above $2,000 per tonne and even touch $2,100 per tonne in the next six months because it is oversold and supply and demand conditions remain tight this year, Macquarie bank said on Tuesday April 16. "The recent decline in the lead price is overdone and was on the back of a large re-warranting in Asia rather than a change in fundamentals," Macquarie metals strategist Vi...Read More

INTL LEAD & ZINC CONF: Healthy precious metals prices 'will save zinc-lead miners in global slump' - panelists

April 18, 2019 / Staff reporter

Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. David Stein, who manages the Aerecura Capital fund and invests directly in mines, said base metal prices including zinc and lead could fall in a wider rout of the markets. Du...Read More

GLOBAL FERRO-SILICON WRAP: Low-priced Asian imports sink Chinese export offers

April 18, 2019 / Staff reporter

Ferro-silicon prices in the Chinese domestic market held steady last week despite elevated April tender prices from steel mills, while export offers in the country sank due to an influx of imported material into Asian markets. Meanwhile, US ferro-silicon prices softened slightly amid low levels of spot activity. Chinese domestic ferro-silicon prices stable despite higher April mill tender prices C...Read More

MINOR METALS MARKET REPORT 17/04: Indium price falls 2.5%; antimony standard grade II firms

April 18, 2019 / Staff reporter

An overview of the minor metals markets and the reasons for any price moves.Read More

BATTERY MATERIALS CONF: Eight things we learned in Shanghai

April 18, 2019 / Staff reporter

Fastmarkets' battery raw materials team summarizes eight key takeaways from last week's Battery Materials Conference in Shanghai. Cobalt's upside is limited without China on board: While market participants at last week's MMTA conference in Edinburgh were enjoying cobalt having found its floor and the resultant round of restocking, delegates in Shanghai were more concerned about whether Chine...Read More

DAILY SCRAP REPORT: Fresh deep-sea cargoes confirm price increases

April 18, 2019 / Staff reporter

Turkish steel producers continued their deep-sea scrap purchases for May deliveries, and the prices of the latest cargoes confirmed the upward market direction, sources said on Wednesday April 17.A steel producer in Northern Turkey booked a European cargo, comprising 35,000 tonnes of HMS 1&2 (75:25) and 5,000 tonnes of bonus at an average price of $307 per tonne cfr.The prices of each grade were c...Read More

NORTHERN EUROPE REBAR: Prices remain stable in quiet Easter market

April 18, 2019 / Staff reporter

The price range for rebar produced and delivered in Northern Europe has remained unchanged week-on-week ahead of the Easter holidays, sources told Fastmarkets on Wednesday April 17.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was 535-550 ($604-621) per tonne delivered on Wednesday, unchanged from April 10. "We expect the price to remain stable over the weeks...Read More