Base Metal Stock Articles

JAPAN STEEL SCRAP: Strong domestic demand pushing up export prices

November 19, 2020 / Staff reporter

Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More

IRON ORE DAILY: Slight uptick in seaborne prices amid relaxed Tangshan emission restrictions

November 19, 2020 / Staff reporter

Seaborne iron ore prices were up slightly on Wednesday November 18 after authorities removed emergency pollution controls in the steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $126.34 per tonne, up $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.58 per tonne, up $0.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More

Iran export billet, slab prices keep increasing

November 19, 2020 / Staff reporter

Iran's export prices for steel billet and slab kept increasing over the week to Wednesday November 18, with several billet export deals heard, Fastmarkets learned.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran was $430-438 per tonne on Wednesday November 18, against $415-420 per tonne the week before.Several cargoes of billet were reported sold at around $425-430 per...Read More

Southeast Asia billet prices continue upward momentum, suppliers raise offers again

November 19, 2020 / Staff reporter

The market for cargoes of steel billet imported to Southeast Asia expanded again over the past week, with suppliers raising their offers, influenced by higher finished steel prices in China.China's domestic rebar prices jumped to a two-year high on Tuesday thanks to strong construction demand and falling steel stock levels in the country.Chinese traders have slowed down their purchases of ste...Read More

IN CASE YOU MISSED IT: 5 key stories from November 18

November 19, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More

TITANIUM SNAPSHOT: Alloy market edges closer to annual high

November 19, 2020 / Staff reporter

Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers The ferro-titanium spot price in Europe increased, marking 13 weeks of persistent increases in line with scrap tightness and renewed demand from consumers in the steel sector.Suppliers reported deals done, or heard, for more than 500 tonnes of standard-grade ferro-titanium for prompt shipment, with a couple o...Read More

UG2 chrome ore prices in China fall on added supplies

November 19, 2020 / Staff reporter

The South African chrome ore market dipped in the week ended Tuesday November 17 in response to the availability of ample material in China.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, was $134 per tonne on Tuesday, down by $2 per tonne (1.5%) from $136 per tonne a week earlier."The decrease in ferro-chrome tender pricing, coupled with a wave of new offers fro...Read More

EUROPE SECTIONS: Prices steady but feedstock shortage continues

November 19, 2020 / Staff reporter

Prices for hollow steel sections in Europe remained unchanged over the past week, despite the continuing feedstock shortage, sources told Fastmarkets on Wednesday November 18.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?640-660 ($759-783) per tonne on Wednesday, flat week on week.The price of the feedstock material, hot-rolled coil, has mov...Read More

IN CASE YOU MISSED IT: 5 key stories from November 18

November 19, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More

EU new passenger car sales fall in October after rise a month earlier

November 19, 2020 / Staff reporter

Sales of passenger cars in the European Union dropped by 7.83% year on year in October 2020, following a first month of recovery this year in September, according to data released by the European Automotive Manufacturers Association (Acea).New car sales in the EU totalled 953,615 vehicles in October, down from 1.03 million units sold in the corresponding month of 2019, Acea said on Wednesday Novem...Read More

IN CASE YOU MISSED IT: 5 key stories from November 18

November 19, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More

China to remove restrictions on 'processing trade' for 136 steel products

November 19, 2020 / Staff reporter

China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week. This means steel mills and other factories in the downstream supply chain need not pay import duties on imported steel substrate materials that will later be processed into downstream products meant for re-export.The 136 steel products i...Read More

NLMK subsidiary reaches settlement with US government on Section 232 lawsuit

November 19, 2020 / Staff reporter

Russia-based steelmaker NLMK's US subsidiary has reached a settlement with the United States government on a lawsuit regarding Section 232 tariffs on steel imports.NLMK filed a suit in the US Court of International Trade on February 2020, challenging a decision from the Department of Commerce to deny the company's exclusion requests to the Section 232 tariff of 25% against steel imported from most...Read More

IN CASE YOU MISSED IT: 5 key stories from November 18

November 19, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More

BASE METALS WARRANT REPORT 11/18

November 19, 2020 / Staff reporter

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 18.Please click...Read More

PRICING NOTICE: Clarification of Fastmarkets' UG2 index MgO specification

November 19, 2020 / Staff reporter

Fastmarkets has identified a necessary clarification to the magnesium oxide specification for its UG2 chrome ore index.Fastmarkets has updated the magnesium oxide (MgO) specifications of its weekly price index for UG2 chrome ore to match the quality listed in the index's pricing notice.The MgO previously, and erroneously, was listed in the specifications at MgO max 0.15% although the correct quali...Read More

EUROPE HRC: Material shortage drives domestic prices further upward

November 19, 2020 / Staff reporter

Domestic prices for hot-rolled coil in Europe increased again in the week to Wednesday November 18, due to tight supplies, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?537.92 ($638.24) per tonne on Wednesday, up by ?,?8.34 per tonne from ?,?529.58 per tonne on Tuesday.The index was also up by ?,?13.42 per tonne week on...Read More

IN CASE YOU MISSED IT: 5 key stories from November 18

November 19, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More

IRON ORE DAILY: Slight uptick in seaborne prices amid relaxed Tangshan emission restrictions

November 19, 2020 / Staff reporter

Seaborne iron ore prices were up slightly on Wednesday November 18 after authorities removed emergency pollution controls in the steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $126.34 per tonne, up $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.58 per tonne, up $0.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More

COKING COAL DAILY: Seaborne premium prices diverge in fob, cfr markets

November 19, 2020 / Staff reporter

Seaborne premium hard coking coal fob and cfr prices diverged on Wednesday November 18 due to the ongoing restriction on Australian coking coal, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $98.87 per tonne, down $1.51 per tonnePremium hard coking coal, cfr Jingtang: $156.23 per tonne, up $1.90 per tonneHard coking coal, fob DBCT: $91.78 per tonne, down $3.72 per tonneHard c...Read More

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