Base Metal Stock Articles

Russia imposes temporary 5% duty on scrap exports

December 22, 2020 / Staff reporter

Russia has introduced a temporary export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved a temporary export duty of 5% but of at least 45 euros per tonne on steel scrap exports, according to a statement...Read More

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

December 22, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More

EUROPE HRC WRAP: Domestic prices rise further on continuous shortage

December 22, 2020 / Staff reporter

Transaction prices for domestic steel hot-rolled coil increased further across Europe in the week to Friday December 18, due to limited supply from both domestic and overseas suppliers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?650 ($796.90) per tonne on Friday December 18, up by ?,?43.75 per tonne week on week and by ?,?112.08 per tonne month...Read More

Vale's permit in Brumadinho city suspended after new accident

December 22, 2020 / Staff reporter

Vale's permit for running operations in Brumadinho city was suspended for seven days following a landslide that caused the death of an employee from a third party contractor in the company's C??rrego do Feij??o mine in Brazil's southeastern Minas Gerais state.The Brumadinho city hall decided to suspend the permit after the accident, which occurred during maintenance activities in the mine on Frida...Read More

Russia imposes temporary 5% duty on scrap exports

December 22, 2020 / Staff reporter

Russia has introduced a temporary export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved a temporary export duty of 5% but of at least 45 euros per tonne on steel scrap exports, according to a statement...Read More

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

December 22, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More

PEOPLE MOVES: First Quantum appoints new COO; co-founder and president Newall to take non-exec role

December 22, 2020 / Staff reporter

First Quantum has named Tristan Pascall its new chief operating officer while also announcing that one of its founders, Clive Newall, will relinquish his role as president.Pascall, who has worked at First Quantum since July 2007, was general manager of the Cobre Panama mine, the only major greenfield project in the copper industry, from its inception in October 2015...Read More

2021 PREVIEW: Scrap tightness should help primary tungsten, cobalt demand next year - sources

December 22, 2020 / Staff reporter

Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More

FOCUS: Asia braces for possible sharp price corrections amid historical highs, rumored contract cancellations

December 22, 2020 / Staff reporter

Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.The price increases since early October have stunned market watchers with their speed and magnitude, leading many market veterans to compare it to a similar price climb in 2008 - and the precipitous drop t...Read More

LIVE FUTURES REPORT 21/12: LME lead price falls 3.9%; profit-taking hits base metals

December 22, 2020 / Staff reporter

Base metals prices on the London Metal Exchange were down across the board at the close on Monday December 21 amid broad-based profit-taking. Lead was the worst performer, falling 3.9% to $1,959.50 per tonne at the close. Trading volume was relatively low with just over 5,000 lots. Lead stocks on the LME continue to rise, weighing on sentiment for the heavy metal. After big inflows of 13,000 tonne...Read More

COKING COAL DAILY: Premium prices up; 10th round of Chinese coke price increase proposed

December 22, 2020 / Staff reporter

Seaborne premium hard coking coal prices in both the cfr and fob markets increased on Monday December 21, with transactions active in the fob market.Coke producers in China also proposed a 10th round of price increases.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.39 per tonne, up $0.15 per tonnePremium hard coking coal, cfr Jingtang: $190.20 per tonne, up $1.78 per tonneHard coking...Read More

CHINA HRC: Price hits 12-year high on strong futures, active buying

December 22, 2020 / Staff reporter

China's hot-rolled coil prices reached their highest since August 2008 on Monday December 21 after futures hit the daily upper limit of 5% while buying in the spot market was active.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($757-762) per tonne, up 330-340 yuan per tonneSellers in Shanghai were offering around 4,950 yuan per tonne when futures started at high levels this morning. Spot pri...Read More

LIVE FUTURES REPORT 21/12: LME lead price falls 3.9%; profit-taking hits base metals

December 22, 2020 / Staff reporter

Base metals prices on the London Metal Exchange were down across the board at the close on Monday December 21 amid broad-based profit-taking. Lead was the worst performer, falling 3.9% to $1,959.50 per tonne at the close. Trading volume was relatively low with just over 5,000 lots. Lead stocks on the LME continue to rise, weighing on sentiment for the heavy metal. After big inflows of 13,000 tonne...Read More

EUROPE HRC: Recent offer hike supports domestic price

December 22, 2020 / Staff reporter

The domestic hot-rolled coil price increased day on day in Northern Europe on Monday December 21 following a rise in ArcelorMittal's offers at the end of last week.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?660.40 ($808.93) per tonne on Monday, up by ?,?10.40 per tonne from ?,?650.00 per tonne on Friday.The index was also up by ?,?37.07 per to...Read More

Lundin's Chapada copper-gold mine reaches full capacity

December 22, 2020 / Staff reporter

Canada-headquartered Lundin Mining has ramped up production at its Chapada copper-gold site in Brazil to full capacity following the repair of a previously damaged motor, the company said on Monday December 21.Chapada had been operating at around 35% capacity in November with only one grinding mill. It then installed a single motor on another mill and reached 100% processing capacity on December 2...Read More

PEOPLE MOVES: First Quantum appoints new COO; co-founder and president Newall to take non-exec role

December 22, 2020 / Staff reporter

First Quantum has named Tristan Pascall its new chief operating officer while also announcing that one of its founders, Clive Newall, will relinquish his role as president.Pascall, who has worked at First Quantum since July 2007, was general manager of the Cobre Panama mine, the only major greenfield project in the copper industry, from its inception in October 2015...Read More

LIVE FUTURES REPORT 21/12: LME prices retreat from 2020 highs; aluminium drops 1.4% on 30kt delivery

December 22, 2020 / Staff reporter

Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday December 21, consolidating from their recent year-to-date highs.The three-month aluminium price fell by 1.4% this morning after nearly 30,000 tonnes were delivered into LME-listed warehouses.Warehouses in Port Klang received 27,875 tonnes of aluminium, while a couple of hundred tonnes was also delive...Read More

Zhuzhou smelter reaches zinc output target two years after relocation

December 22, 2020 / Staff reporter

China's Zhuzhou zinc smelter has successfully met its production target of 300,000 tonnes per year in 2020, the company said on December 19, after a costly relocation that had weighed on output in recent years. But this target is still lower than the smelter's capacity prior to relocation. The flagship zinc smelting complex had capacity to produce 450,000 tpy of refined zinc when it was located in...Read More

US CHQ, high-carbon rod prices jump in December

December 22, 2020 / Staff reporter

Prices for cold-heading quality (CHQ) and high-carbon wire rod in the United States both surged by $5 per hundredweight ($20 per short ton) month on month, supported by higher ferrous scrap prices. Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 13.42% to $42.25 per cwt ($845 per ton) on Friday December 18 from $37.25 per cwt the prior month.Fastmark...Read More

CIS STEEL BILLET: Turkish demand remains the major price driver

December 22, 2020 / Staff reporter

Turkey remains the key market supporting price growth in the Commonwealth of Independent States export billet market, with buyers largely interested in wire rod grade semi-finished purchases, sources told Fastmarkets on Monday December 21.More producers from Russia announced export prices for steel billet with February shipment on Monday with offers ranging $580-600 per tonne fob, several sources...Read More

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