Base Metal Stock Articles

EUROPE STAINLESS STEEL: Flat product prices resume upward trajectory on constrained supplies

June 26, 2021 / Staff reporter

The price of flat-rolled stainless steel in Europe resumed its upward trend this week amid a continuing supply shortage, sources told Fastmarkets on Friday June 25.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,450-3,500 ($4,116-4,176) per tonne on Friday, up ?,?100 from ?,?3,350-3,400 per tonne a week...Read More

CIS STEEL BILLET: Market quiet, price rise expected; Russia mulls export tax

June 26, 2021 / Staff reporter

The Commonwealth of Independent States (CIS) export billet market turned quiet at the end of the week to June 25 following news of the Russian government's plan to impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU) from August 1, Fastmarkets heard.Billet is one of the products that will be affected if the government imposes the duties.T...Read More

EUROPE STAINLESS STEEL: Flat product prices resume upward trajectory on constrained supplies

June 26, 2021 / Staff reporter

The price of flat-rolled stainless steel in Europe resumed its upward trend this week amid a continuing supply shortage, sources told Fastmarkets on Friday June 25.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,450-3,500 ($4,116-4,176) per tonne on Friday, up ?,?100 from ?,?3,350-3,400 per tonne a week...Read More

FOCUS: European buyers lambast steel safeguard extension

June 26, 2021 / Staff reporter

European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More

Indian local billet prices down $13 as rains reduce long-steel demand

June 26, 2021 / Staff reporter

Indian domestic prices for secondary steel billet fell by 1,000 rupees ($13) per tonne in the week ended Friday June 25, in line with similar price dips for finished products such as rebar, Fastmarkets has heard.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets at 41,300-41,500 rupees ($557-559) per tonne on Friday, compared with last week's assessment at 42,300-42,5...Read More

IRON ORE DAILY: Steel uptick supports raw material prices but near-term concerns linger

June 26, 2021 / Staff reporter

Iron ore prices increased across the board on Friday June 25, boosted by an increase in downstream steel prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $216.45 per tonne, up $2.99 per tonne 62% Fe low-alumina fines, cfr Qingdao: $218.75 per tonne, up $1.67 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $187.16 per tonne, up $3.30 per tonne 65% Fe Brazil-origin fines, cfr...Read More

Russia sets export duties on 340 metal products

June 26, 2021 / Staff reporter

The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More

US PIG IRON: Market down in new bookings, rebound possible on threat of lower supply

June 26, 2021 / Staff reporter

The United States' pig iron import market fell in the latest bookings during the week to Friday June 25, although a rebound may come on the threat of reduced supply from Russia if a proposed export tax is implemented.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $645-655 per tonne on Friday, down from $650-665 per tonne a week earlier.One booking of Russia-origin...Read More

Brazil's pig iron export market quiet, but expected to benefit from export tax in Russia

June 26, 2021 / Staff reporter

The pig iron export market in Brazil remained muted in the week to Friday June 25 due to continuing long lead times, but demand is expected to pick up if Russia implements a pig iron export tax in the coming weeks, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, unchanged week on week.The market remained ina...Read More

Russia sets export duties on 340 metal products

June 26, 2021 / Staff reporter

The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More

Indian mills reduce HRC export offers by $50 per tonne to boost sales

June 26, 2021 / Staff reporter

Steel mills in India reduced the price of hot rolled coil exports to Southeast Asia by as much as $50 per tonne in the week to Friday June 25, with official offers down to $940-950 per tonne fob Indian ports.According to market participants, however, buyers in Southeast Asia are considering HRC prices closer to $880-890 per tonne fob Indian ports for mid-July- August shipment.Fastmarkets' price as...Read More

TURKEY FLAT STEEL: HRC prices increase on proposed Russian export duties

June 26, 2021 / Staff reporter

Hot-rolled coil prices increased in Turkish domestic and export markets during the week to Friday June 25, following the news that Russia could impose export duties, sources told Fastmarkets.Russia's economy ministry proposed that the government impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU).Russia is one of the biggest flat steel e...Read More

Indian mills reduce HRC export offers by $50 per tonne to boost sales

June 26, 2021 / Staff reporter

Steel mills in India reduced the price of hot rolled coil exports to Southeast Asia by as much as $50 per tonne in the week to Friday June 25, with official offers down to $940-950 per tonne fob Indian ports.According to market participants, however, buyers in Southeast Asia are considering HRC prices closer to $880-890 per tonne fob Indian ports for mid-July- August shipment.Fastmarkets' price as...Read More

NEW ENERGY MATERIALS MARKET REPORT 25/06: Cobalt sulfate, metal prices up; payable unchanged

June 26, 2021 / Staff reporter

An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More

EUROPE HRC: Prices stable in slow market

June 26, 2021 / Staff reporter

Domestic prices for hot-rolled coil in Europe remained fairly stable on Friday June 25, supported by persistent short supply, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,191.14 ($1,421.24) per tonne on June 25, up by just ?,?0.27 from ?,?1,190.87 per tonne on June 24.The index was also up by ?,?39.14 per tonne w...Read More

Russia sets export duties on 340 metal products

June 26, 2021 / Staff reporter

The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More

POLAND WIRE ROD: Prices rise in new offers

June 26, 2021 / Staff reporter

Poland wire rod producers raised prices for July material, as expected, with shortages and good demand remaining the key drivers for the uptrend, Fastmarkets heard on Friday June 25.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 4,000-4,100 zloty ($1,054-1,081) per tonne on Friday, up 200 zloty from 3,800-3,900 zloty per tonne delivered la...Read More

Pilbara to restart former Altura project; spodumene digital auction scheduled for July

June 26, 2021 / Staff reporter

Pilbara Minerals' board has approved a staged restart at the Ngungaju lithium project, set for the December quarter of 2021, the company announced on Friday June 25.Pilbara completed the acquisition of the Altura Lithium in January, thereby becoming the 100% owner of Altura's Pilgangoora lithium project, which was promptly renamed Ngungaju. The project has been on care and maintenance since late O...Read More

POLAND REBAR: Good demand, short supply drive new price increases

June 26, 2021 / Staff reporter

The uptrend in Poland's steel rebar market continued in the week to Friday June 25, with prices gaining support from solid demand and short supply, sources have told Fastmarkets.Trading activity in the market remained strong, despite the surging prices, because buyers had more concerns about the availability of rebar, with producers planning to have maintenance stoppages in July-August."We heard t...Read More

NEW ENERGY MATERIALS MARKET REPORT 25/06: Cobalt sulfate, metal prices up; payable unchanged

June 26, 2021 / Staff reporter

An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More

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