Base Metal Stock Articles

ENERGY TRANSITION: UK to set up critical minerals committee, update list

October 22, 2021 / Staff reporter

The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More

Chinese alumina prices reach 13-year high despite slower operations, buying

October 22, 2021 / Staff reporter

Domestic alumina prices in China continued to climb in the week to Thursday October 21, with new transactions being made on an as-needed basis, Fastmarkets has heard.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-649) per tonne on Thursday, up by 100-150 yuan per tonne from 3,800-4,000 yuan last week.Alumina prices have now reached a 13...Read More

Rio Tinto to invest $7.5 billion to meet its revised emission targets

October 22, 2021 / Staff reporter

Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.Following more ambitious climate targets by governments, Rio Tinto is revising its emissions reduction targets. Its new target is to reduce its Scope 1 & 2 carbon emissions of the greenhouse gas (GHG) Protocol by 50% by 2030, more than triple...Read More

TURKEY LONG STEEL: Domestic prices continue to rise amid higher scrap costs and weaker lira

October 22, 2021 / Staff reporter

Turkish domestic rebar and wire-rod prices have continued to rise over the past week due to higher scrap costs and a weaker lira, market sources said on Thursday October 21.Turkish steel mills have continued their deep-sea scrap purchases with prices exceeding $500 per tonne for HMS 1&2 (80:20).Fastmarkets' calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cf...Read More

TURKEY LONG STEEL EXPORTS: Prices up on costlier scrap

October 22, 2021 / Staff reporter

Turkish reinforcing bar and wire rod export prices continued to increase over the past week due to strengthening scrap costs, market participants told Fastmarkets on Thursday October 21.Turkish steel mills continued their deep-sea ferrous scrap purchases this week, with prices exceeding $500 per tonne for an 80:20 mix of No1 and No2 heavy melting scrap.Fastmarkets' daily index for steel scrap HMS...Read More

IN CASE YOU MISSED IT: 5 key stories from October 21

October 22, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.The government of the United...Read More

CHINA HRC: Spot trading stagnates after futures tumble again

October 22, 2021 / Staff reporter

Spot trading for hot-rolled coil in China stagnated in the afternoon of Thursday October 21 after the continued tumble in futures prices kept market participants cautious.DomesticEastern China (Shanghai): 5,710-5,750 yuan ($892-898) per tonne, narrowing by 10-30 yuan per tonneSpot HRC was traded at 5,710-5,750 yuan per tonne in Shanghai on Thursday morning, when the most-traded HRC contract on the...Read More

EGYPT STEEL BILLET, REBAR: Prices increase, demand slightly better

October 22, 2021 / Staff reporter

Egypt's prices for imported billet and domestic reinforcing bar increased in the week to Thursday October 21, with demand also picking up from previous weeks, sources told Fastmarkets.Local rebar producers increased their prices effective October 20.Buying increased after the price hikes were announced because buyers believed prices could rise further, traders said.On the other hand, the Advanced...Read More

SHFE nickel price surges by over 7% amid talk of Indonesian export ban

October 22, 2021 / Staff reporter

Nickel prices on the Shanghai Futures Exchange shot up to an all-time high during morning trading on Thursday October 21 amid a possible export ban on raw materials by Indonesia, among other bullish market dynamics.SHFE nickel was trading at 160,300 yuan ($25,071) per tonne at 11.30am Shanghai time, up by 10,720 yuan per tonne (7.17%) from a closing price of 149,580 yuan per tonne on Wednesday.Ind...Read More

IN CASE YOU MISSED IT: 5 key stories from October 21

October 22, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.The government of the United...Read More

IN CASE YOU MISSED IT: 5 key stories from October 21

October 22, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.The government of the United...Read More

IRON ORE DAILY: Prices down amid drop in steel prices

October 22, 2021 / Staff reporter

Iron ore prices were largely down on Thursday October 21, following the bearish mood in terms of steel prices and demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.93 per tonne,down $7.14 per tonne62% Fe low-alumina fines, cfr Qingdao:  $118.68 per tonne,down $6.53 per tonne58% Fe fines high-grade premium, cfr Qingdao:  $88.98 per tonne,down $5.99 per tonn...Read More

ENERGY TRANSITION: UK to set up critical minerals committee, update list

October 22, 2021 / Staff reporter

The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More

ENERGY TRANSITION: UK to set up critical minerals committee, update list

October 22, 2021 / Staff reporter

The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More

Freeport to start mine development at Kucing Liar in Indonesia

October 22, 2021 / Staff reporter

Freeport-McMoRan's Indonesian unit plans to start long-term mine development activities at its Kucing Liar deposit, the company said.PT-Freeport Indonesia (PT-FI), in which Freeport holds a 48.76% stake and manages its mining operations, will develop the project over the next 10 years, the US copper producer said.At full operating rates, annual production from Kucing Liar is expected to exceed 500...Read More

ASIA STEEL SCRAP DIGEST: Taiwanese buyers continue to purchase at higher prices

October 22, 2021 / Staff reporter

Buyers in Taiwan continued to purchase containerized scrap cargoes at higher prices on Thursday October 21 amid bullishness in the spot market, sources said. Taiwan continues to book containerized cargoes at higher prices Spot prices in China edge down amid losses in finished steel futures Tokyo Steel announces another rise in domestic scrap purchase priceTaiwanTaiwanese buyers continued to secur...Read More

FOCUS: Higher production cost pushes up cobalt sulfate price in China

October 22, 2021 / Staff reporter

Cobalt sulfate prices have trended upward since early September this year due to continuously higher raw materials costs and the rising cost of chemical auxiliary materials despite thin downstream demand, sources told Fastmarkets.Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price was assessed at 89,000-93,000 yuan ($13,914-14,539) per tonne on Wednesday October 20,...Read More

DAILY STEEL SCRAP: Mills continue booking deep-sea cargoes

October 22, 2021 / Staff reporter

Turkish steel mills have continued their deep-sea scrap bookings with two Venezuelan cargoes, market participants told Fastmarkets on Thursday October 21.A steel mill in the Iskenderun region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $505 per tonne cfr late on Wednesday October 20. The cargo was scheduled to...Read More

EUROPE HRC: Reduced end-user demand weighs on prices

October 22, 2021 / Staff reporter

Domestic hot-rolled coil prices across Europe edged down on Thursday October 21 on reduced end-user demand, and trading activity remained limited, sources told Fastmarkets. The ongoing global shortage of semiconductors has caused automakers in Europe to reduce output and, consequently, to cut flat-steel purchases, market sources said.Moreover, market participants have suggested that some major aut...Read More

Freeport's planned new Indonesian copper smelter not subject to export duties

October 22, 2021 / Staff reporter

Freeport-McMoRan's new Indonesian copper smelter will not be subject to export duties, the US copper producer said.The new greenfield smelter, currently delayed by Covid-19, is to be located in Gresik, Indonesia, and will have the capacity to process around 1.7 million tonnes of copper concentrate per year.The same applies to the company's precious metals refinery (PMR), which will process gold an...Read More

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