Base metal stocks Articles

TURKEY LONG STEEL EXPORTS: Limited demand, weaker Chinese market drag prices down

November 16, 2018 / Staff reporter

Turkish long steel export prices have fallen over the past week amid limited demand and weakening steel prices in China, sources told Fastmarkets on Thursday November 15.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $505-510 per tonne fob, down from the $510-520 per tonne of last week.The decrease in the assessment followed news of a rebar cargo...Read More

TITANIUM SNAPSHOT: Ferro-titanium price losses persist but floor seen

November 16, 2018 / Staff reporter

Key data from the Wednesday November 14 pricing session in Europe. Key driversThe recent downward trend in the ferro-titanium price has created more losses in the European alloy market. The trend started on September 12, when the market was assessed at $5.80-6.05 per kg.Trading activity was slower this week, with many market participants at Fastmarkets MB' International Ferro-alloys conference in...Read More

NORTH AMERICAN MORNING BRIEF 15/11: LME zinc price climbs 3%; Antofagasta, Jiangxi agree on copper concs benchmark

November 16, 2018 / Staff reporter

The latest metal markets news and price moves to start the North American day on Thursday November 15.Base metals prices on the London Metal Exchange rallied against a high dollar index during morning trading, recovering losses made at Wednesday's close and topped by strong gains in zinc and nickel futures.Climbing by 3%, the three-month zinc price reached an intraday high of $2,595 per tonne over...Read More

2018 ICDA CONF: Oversupply to haunt chrome industry in the short term

November 16, 2018 / Staff reporter

Expansions in chrome capacity over the next five years will lead to a global oversupply in the short term, Fastmarkets learned at the 2018 International Chromium Development Association (ICDA) Conference in Baotou, China's Inner Mongolia Autonomous Region on November 6-8. There will be an increasing oversupply in the chrome industry over the next five years though it is difficult to gauge whether...Read More

EUROPEAN MORNING BRIEF 15/11: SHFE base metals prices rebound; nickel premiums unchanged; European tin premium holds at 21-month high

November 16, 2018 / Staff reporter

Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Thursday November 15.Base metals prices on the Shanghai Futures Exchange were up across the board during Asian morning trading on Thursday, reversing the previous day's losses on a weaker dollar and easing trade tensions.Check Fastmarkets MB's live futures report here. Nickel premiums in China...Read More

UK FERROUS SCRAP: November prices rolled over for second month

November 16, 2018 / Staff reporter

UK ferrous scrap prices for deliveries in November have been rolled over due to steady business and a small increase in European export prices to the key destination of Turkey, which meant there has been no support for changes to British domestic scrap prices, trade sources told Metal Bulletin on Wednesday November 14.UK suppliers had initially pushed for an increase of around 5-10 ($6-13) per to...Read More

IRON ORE DAILY: Prices weaken on first day of winter steelmaking restrictions in China

November 16, 2018 / Staff reporter

Iron ore prices weakened on Thursday November 15, marking the start of the winter heating season in north China and the accompanying steelmaking restrictions.MB 62% Fe Iron Ore Index: $74.93 per tonne cfr Qingdao, down $0.98 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.73 per tonne cfr Qingdao, down $0.98 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $77.97 per tonne cfr Qingdao, down $0.2...Read More

COKING COAL DAILY: Sellers not budging from offers despite little buying interest

November 16, 2018 / Staff reporter

Sellers in the seaborne coking coal market maintained their offers on Thursday November 15 despite inactivity, with supply of the steelmaking raw material tightening amid steady demand from downstream sectors. "[China's biggest met coal producer] Shanxi Coking Coal Group talked about its plans to shut down certain coking coal mines next year thereby decreasing its total output. Coke plants will pr...Read More

China AM: Ferrous futures prices shed upward momentum

November 16, 2018 / Staff reporter

China's ferrous futures, particularly the steel and coke contracts, tumbled during morning trading on Thursday November 15 on profit-taking after across-the-board gains a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,874 ($557) yuan per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,577 yuan per tonne, down 30 yuan per tonneDalian Commodit...Read More

ASIA COPPER WEEK 2018: Chinese presence in copper futures market 'is growing'

November 16, 2018 / Staff reporter

China's presence and influence in the copper futures market is growing, reflected in the significant increase in the number of copper transactions conducted by Chinese participants across major exchanges over the past two years, representatives of major bourses told delegates at Asia Copper Week in Shanghai.Around 25% of copper transactions on the London Metal Exchange are either done by Chinese p...Read More

SHFE vs LME physical arbitrage 15/11: Copper, aluminium, zinc, nickel

November 16, 2018 / Staff reporter

Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 15 * Copper -$192.98 (-1,341.20 yuan) Aluminium -$432.34 (-3,004.69 yuan) Zinc -$94.99 (-660.14 yuan) Nickel $609.10 (4,233.09 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More

LIVE FUTURES REPORT 15/11: LME zinc price climbs 3% amid 11,000t fresh cancelation; complex follows higher

November 16, 2018 / Staff reporter

Base metals prices on the London Metal Exchange rallied against a high dollar index during morning trading on Thursday November 15, recovering losses made at Wednesday's close and topped by strong gains in zinc and nickel futures.Climbing by 3%, the three-month zinc price reached an intraday high of $2,595 per tonne over the morning after more than 11,000 tonnes was freshly canceled across LME-lis...Read More

Chinese cobalt metal price down, traditional brands lose market share

November 16, 2018 / Staff reporter

The cobalt metal price in China edged lower mid-week, pressured by the overall bearish sentiment toward the cobalt market's outlook following an industry event last week.Fastmarkets assessed the Chinese cobalt metal price at 410,000-430,000 yuan per tonne ($23.10-24.22) per lb, China VAT-free, on Wednesday November 14, down 4.5% from 430,000-450,000 yuan per tonne previously. "Following the event...Read More

METALS MORNING VIEW 15/11: Metals prices rebound after dollar pulls back

November 16, 2018 / Staff reporter

Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.7% on the morning of Thursday November 15. Zinc and nickel prices were up by the most with gains of 1.2% and 1.1% respectively, while copper was up by 0.8% at $6,149 per tonne. The others were up by between 0.2% for aluminium and 0.8% for lead. Volume has been below average with 4,583 lots trade...Read More

EC exempts South African stainless flat steel from safeguard measures

November 16, 2018 / Staff reporter

The European Commission (EC) has decided that flat stainless steel products originating from South Africa should be excluded from the scope of its provisional safeguard measures on steel product imports, it said on Tuesday November 13.The decision will be enacted retroactively and the quotas for stainless hot-rolled (HR) and cold-rolled (CR) sheets and strips should be adjusted.The products concer...Read More

East Asian stainless steel prices tumble further on lower offers, nickel losses

November 16, 2018 / Staff reporter

Import prices for stainless steel in East Asia weakened again during the past week, with exporters continuing to lower their offers amid intense competition in the region.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,950-2,070 per tonne cif East Asia for the week ended Wednesday November 14, down $30-80 per tonne from a week earlier.Fas...Read More

China's stainless steel prices drop on soft demand

November 16, 2018 / Staff reporter

China's domestic stainless steel prices moved down over the past week due to decreasing demand. Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,100-15,600 yuan ($2,171-2,243) per tonne including VAT for the week ended Wednesday November 14, down 100-300 yuan per tonne from a week earlier.Demand from...Read More

CHINA ALUMINIUM INGOT ADC 12 SNAPSHOT: MJP, domestic Chinese prices drop on weak demand

November 16, 2018 / Staff reporter

Key data from the Wednesday November 14 pricing session in Asia. Key drivers:  The strong performance of the downstream vehicle sector in Japan in the fourth quarter was not enough to stoke greater buying interest from Japanese consumers due to the...Read More

UK secondary aluminium price slide prompts consideration of production cuts

November 16, 2018 / Staff reporter

Secondary aluminium producers in the UK are considering production cuts following a nine-week slide in ingot prices, which is cutting into profit margins.The low ingot price combined with scrap prices not falling at a fast enough rate could prompt production cuts in the coming months, UK producers said.LM24 pressure diecasting ingot on a delivered consumer works basis fell to 1,390-1,440 ($1,776....Read More

Metals mixed while trade uncertainty dominates

16 November 2018 / Staff reporter

Three-month base metals prices on the London Metal Exchange were either little changed or stronger on the morning of Friday November 16.Zinc and aluminium prices were up by the most with gains of 0.6% and 0.4%% respectively, while the rest were little changed with copper down by 0.1% at $6,195 per tonne. Volume has been above average with 6,330 lots traded as at 07.10am London time. This morn...Read More