Base Metal Stock Articles

IN CASE YOU MISSED IT: 5 key stories from March 4

March 05, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday March 4 that are worth another look....Read More

EU steel consumers call for end to safeguard measures in June 2021

March 05, 2021 / Staff reporter

Eight industry associations representing various steel end-consumers in Europe have sent a letter to the European Commission (EC) asking for termination of the region's safeguard measures imposed on steel imports.The European Commission started an investigation on February 26 into the possible extension of existing safeguard measures, which are applied to imports of 26 steel product categories.The...Read More

TURKEY LONG STEEL: Rising scrap costs, weakening lira push up domestic prices

March 05, 2021 / Staff reporter

Turkish domestic long steel prices increased over the past week because of rising imported scrap costs, but demand has not supported the rises, market participants told to Fastmarkets on Thursday March 4.Late on February 26, a steel mill in the Marmara region booked Baltic Sea-origin shipment of HMS 1&2 (80:20) scrap at $456 per tonne cfr, which pushed up the daily scrap on March 1, with Fastmarke...Read More

TURKEY LONG STEEL EXPORTS: Prices up on higher scrap costs, despite limited demand

March 05, 2021 / Staff reporter

Turkish rebar and wire rod export prices have gone up further this week on increasing scrap costs, market sources said on Thursday March 4.The latest deep-sea scrap transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20). This raised the daily scrap index for US-origin material - which tends to reflect Balt...Read More

DAILY STEEL SCRAP: Prices rise again but mills struggle with low steel sales

March 05, 2021 / Staff reporter

The Turkish steel producers have resumed their deep-sea scrap purchases after a short break and have booked two cargoes at slightly higher prices, market sources said on Thursday March 4.A steel mill in the Marmara region booked a Canadian cargo, comprising 18,000 tonnes of HMS 1&2 (95:5), 18,000 tonnes of shredded and 7,000-8,000 tonnes of plate and structural (P&S), at an average price of $471 p...Read More

WEBINAR: What does China's restart to scrap imports mean for global markets?

March 05, 2021 / Staff reporter

Join Fastmarkets and steel industry experts on Wednesday March 10 for a special webinar on the revival of the Chinese steel scrap import market - 'Understanding China's Steel Scrap Market Dynamics.'Fastmarkets has been at the forefront of reporting deals, obstacles and key regulatory changes in the Chinese steel scrap import market over the past year and on February 8 2020, started a daily pr...Read More

New Minas Gerais Covid-19 lockdown unlikely to affect iron ore output - sources

March 05, 2021 / Staff reporter

Mining activities at Minas Gerais are unlikely to be affected despite a newly-imposed Covid-19 lockdown on Thursday March 4, market sources said.The local authorities in Minas Gerais have issued an initial 15-day lockdown to tackle the spread of the Covid-19 virus, with further evaluation needed to determine whether an extension is needed, local news outlets saidMining activities will still c...Read More

CIS STEEL BILLET: Trading activity revives after quiet week

March 05, 2021 / Staff reporter

Trading activity in the CIS export market for steel billet had revived by the end of the week to Thursday March 4, although it started relatively quietly amid a lack of certainty in the raw materials and finished long steel sectors in customers' markets, particularly in Turkey."Turkish customers did not place many bids [for billet imports] because rebar and merchant bar sales in their domestic and...Read More

EGYPT STEEL BILLET, REBAR: Market remains slow with stable prices

March 05, 2021 / Staff reporter

The steel billet and rebar markets in Egypt have remained slow over the past seven days, with prices unchanged, sources told Fastmarkets on Thursday March 4.Demand for billet imports has been very slow since last year, and there have been hardly any imports since October 2020.The main reason for this weak demand for billet, Fastmarkets was told, was the Middle Eastern country's import safeguard du...Read More

Europe FeTi price dip to be brief, new tenders expected

March 05, 2021 / Staff reporter

The European ferro-titanium price dropped over the week to Wednesday March 3, with the range widening lower, which surprised industry sources because an acute shortage of scrap has been pushing up all titanium markets in recent months, sources said.The dip in ferro-titanium prices should be brief, however, given the upward pressure on prices from tight feedstock supplies, which is squeezing alloy...Read More

ArcelorMittal Nippon Steel India signs MOU for plant in Odisha

March 05, 2021 / Staff reporter

ArcelorMittal Nippon Steel India (AM/NS India) has signed a memorandum of understanding (MoU) with the government of Odisha, India to build an integrated steel plant in Odisha with a capacity for 12 million tonnes per year, it announced on Thursday March 4.The plant will be set up in the Kendrapara district and the investment is reported to be 500 billion rupees ($6.87...Read More

IN CASE YOU MISSED IT: 5 key stories from March 3

March 05, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday March 3 that are worth another look.A crackdown on industrial activity in Tangshan, China's steelmaking hub, is sending jitters throughout the sector. Fastmarkets examines what it means for the steel industry.Glencore has appointed BMO...Read More

TURKEY FLAT STEEL WRAP: Strong demand pushes all prices upward in February

March 05, 2021 / Staff reporter

Turkish prices for hot-rolled and cold-rolled coil increased in February 2021, with market demand strong because of low stock levels, Fastmarkets heard on Wednesday March 3.The country's HRC producers were fully booked until late June, while CRC producers were accepting orders for June, July and August production. They were not willing to give any discounts because of the strong local and export d...Read More

IN CASE YOU MISSED IT: 5 key stories from March 4

March 05, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday March 4 that are worth another look....Read More

LIVE FUTURES REPORT 04/03: LME selloff continues; copper down 2%, nickel down $1,200

March 05, 2021 / Staff reporter

Copper's price dipped to $8,907.50 per tonne while nickel sank by 7.4% at the 5pm close of trading on the London Metal Exchange on Thursday March 4, with sell-offs and corrections seen for a second day.Prices for other materials in the base-metals complex fell by an average of 1.9%."Base metals have backed off from their recent highs over the past week, with the market experiencing some very viole...Read More

CIS STEEL BILLET: Trading activity revives after quiet week

March 05, 2021 / Staff reporter

Trading activity in the CIS export market for steel billet had revived by the end of the week to Thursday March 4, although it started relatively quietly amid a lack of certainty in the raw materials and finished long steel sectors in customers' markets, particularly in Turkey."Turkish customers did not place many bids [for billet imports] because rebar and merchant bar sales in their domestic and...Read More

ArcelorMittal Nippon Steel India signs MOU for plant in Odisha

March 05, 2021 / Staff reporter

ArcelorMittal Nippon Steel India (AM/NS India) has signed a memorandum of understanding (MoU) with the government of Odisha, India to build an integrated steel plant in Odisha with a capacity for 12 million tonnes per year, it announced on Thursday March 4.The plant will be set up in the Kendrapara district and the investment is reported to be 500 billion rupees ($6.87...Read More

IN CASE YOU MISSED IT: 5 key stories from March 4

March 05, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday March 4 that are worth another look....Read More

COMMENT: What China's possible steel export rebate cuts mean for businesses around the world

March 05, 2021 / Staff reporter

A key topic reverberating around the Asian steel market over the past month has been the possibility of China reducing steel export rebates to 9% from the current 13%, or possibly axing them altogether.Market chatter on this topic has grown increasingly louder, with industry sources in China hearing more and more details about these plans from late January onward."This is likely in line with China...Read More

HOTTER ON METALS: Breakbulk is back amid shipping's container shortage

March 05, 2021 / Staff reporter

A shortage of containers to ship commodities around the world and the consequent soaring in associated freight rates have led to a revival of interest in breakbulk cargoes. Producers and physical traders of metals, agricultural, chemical and timber products have been starting to book shipments in breakbulk vessels, which cost far less and doesn't require vast amounts of equipment in port. On the m...Read More

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