Base Metal Stocks Articles

Beer Institute opposes floor for Platts US Midwest aluminium premium

May 21, 2020 / Staff reporter

The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied duty-unpaid US Midwest aluminium premium, as well as any changes to its methodology that may alter premiums and impact contracts based on their current methodology. Mary Jane Saunders, the trade association's General Counsel, said in a letter to the price reporting agency on May 18 that the proposal was "inco...Read More

FOCUS: Export flows from South Africa to falter despite lockdown easing

May 21, 2020 / Staff reporter

The smooth flow of material from South Africa will remain uncertain for a considerable period even after the country eased its restrictions on activity in response to the Covid-19 virus. South Africa entered lockdown on March 26, which severely tightened exports of 37% manganese ore, UG2 chrome ore and foundry grade chromite, among other materials. The government has since granted permission for m...Read More

IN CASE YOU MISSED IT: 5 key stories from May 20

May 21, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More

Cobalt metal prices steady; lockdowns and economic uncertainty keep confidence low

May 21, 2020 / Staff reporter

Cobalt has continued to trade on either side of $15 per lb so far this week, with thin spot demand, lockdowns and economic uncertainty created by the Covid-19 pandemic limiting scope for gains despite some sellers holding back from the spot market. Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $14.80-15.20 per lb on Wednesday May 20; the price has remained...Read More

TITANIUM SNAPSHOT: Alloy, scrap markets slow but steady

May 21, 2020 / Staff reporter

Key data from Fastmarkets' pricing session in Europe on Wednesday May 20.Key drivers Europe ferro-titanium market extends steady trend for seventh consecutive week while reduced production is counteracted by less demand, with little change in the near term. UK-based sources say domestic production has been cut by up to as much as 40% from some furnaces due to reduced staffing levels, while workers...Read More

DAILY SCRAP REPORT: Holidays, Covid-19 lockdown keep mills out of deep-sea market

May 21, 2020 / Staff reporter

Turkish steel mills stayed out of the deep-sea scrap market on Wednesday May 20, with national holidays and Covid-19 lockdown measures continuing to inhibit trading activity, sources told Fastmarkets.In addition to the public holiday on May 19 and the upcoming Eid al-Fitr break - from Friday May 22 to Tuesday May 26 to mark the end of Ramadan - the country's major cities remained subject...Read More

JAPAN SCRAP: H2 prices supported by Vietnam deals; high-grade premiums ease

May 21, 2020 / Staff reporter

Prices for H2-grade heavy steel scrap remained stable in Japan over the past week after several deals were booked to Vietnam, market sources told Fastmarkets on Wednesday May 20.Deals for H2 material were heard at ?23,000 ($214) per tonne fob to Vietnam in recent days, equivalent to $248 per tonne cfr South Vietnam and $253-255 per tonne cfr North Vietnam, Fastmarkets heard.The Japanese deals cam...Read More

Cobalt metal prices steady; lockdowns and economic uncertainty keep confidence low

May 21, 2020 / Staff reporter

Cobalt has continued to trade on either side of $15 per lb so far this week, with thin spot demand, lockdowns and economic uncertainty created by the Covid-19 pandemic limiting scope for gains despite some sellers holding back from the spot market. Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $14.80-15.20 per lb on Wednesday May 20; the price has remained...Read More

IN CASE YOU MISSED IT: 5 key stories from May 20

May 21, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More

EUROPE PLATE: Domestic prices under pressure from poor demand

May 21, 2020 / Staff reporter

Domestic prices for heavy steel plate in Europe have been under pressure from limited trading activity, sources told Fastmarkets on Wednesday May 20."The market is very quiet. Buyers are not interested in placing orders because they have high stocks," a Northern European trader said."There are some signs of a slow recovery, but it is very slow. Generally speaking, demand is still absent, especiall...Read More

EUROPE HRC: Domestic prices stable in quiet market

May 21, 2020 / Staff reporter

Domestic prices for hot-rolled coil in Europe have been fairly stable due to slow market activity, sources told Fastmarkets on Wednesday May 20.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?410 ($448.14) per tonne on Wednesday, up by only ?,?0.16 per tonne from ?,?409.84 per tonne on Tuesday.Wednesday's index was calculated based on deals heard at ?,?405-415...Read More

Turkey imposes additional duties on steel product imports

May 21, 2020 / Staff reporter

Turkey has imposed additional duties on imports of several steel products with effect from Wednesday May 20, according to the Turkish Official Gazette.Imports of hot-rolled flat steel under HS codes 7208 9080 1012 and 7208 9080 2012 will be subject to 14% additional import duty until September 30, 2020.A 10% additional import duty will be applied to various cold-rolled flat steel under HS code 720...Read More

EUROPE REBAR: Prices stabilize on support from higher scrap costs

May 21, 2020 / Staff reporter

Steel rebar prices in Europe have remained largely stable over the past week, supported by costlier scrap, with buying remained limited especially in the south, sources told Fastmarkets on Wednesday May 20.Buying activity was slow in the south of the region because the key rebar-consuming sector, construction, was still running at low rates while various countries eased their way out of their Covi...Read More

EUROPE SECTIONS: Prices continue to drop while market awaits further falls

May 21, 2020 / Staff reporter

Prices for hollow steel sections in Europe dipped further this week with buyers rejecting current offer prices, sources told Fastmarkets on Wednesday May 20. Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?560-580 ($612-634) per tonne on Wednesday, down from ?,?580-590 per tonne one week previous. "We are not buying, domestic prices...Read More

DAILY SCRAP REPORT: Holidays, Covid-19 lockdown keep mills out of deep-sea market

May 21, 2020 / Staff reporter

Turkish steel mills stayed out of the deep-sea scrap market on Wednesday May 20, with national holidays and Covid-19 lockdown measures continuing to inhibit trading activity, sources told Fastmarkets.In addition to the public holiday on May 19 and the upcoming Eid al-Fitr break - from Friday May 22 to Tuesday May 26 to mark the end of Ramadan - the country's major cities remained subject...Read More

JAPAN SCRAP: H2 prices supported by Vietnam deals; high-grade premiums ease

May 21, 2020 / Staff reporter

Prices for H2-grade heavy steel scrap remained stable in Japan over the past week after several deals were booked to Vietnam, market sources told Fastmarkets on Wednesday May 20.Deals for H2 material were heard at ?23,000 ($214) per tonne fob to Vietnam in recent days, equivalent to $248 per tonne cfr South Vietnam and $253-255 per tonne cfr North Vietnam, Fastmarkets heard.The Japanese deals cam...Read More

IRON ORE DAILY: Seaborne iron ore prices down in thin trading

May 21, 2020 / Staff reporter

Seaborne iron ore prices fell on Wednesday May 20 amid slow trading activity, bringing to an end a run of consecutive increases seen since the start of May.Fastmarkets iron ore indices  62% Fe fines, cfr Qingdao: $96.95 per tonne, down $1.41 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $99.54 per tonne, down $1.45 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $84.05 per t...Read More

Iranian semi-finished steel prices climb on fresh sales to Asia

May 21, 2020 / Staff reporter

Iranian export billet and slab prices have begun to recover in the second half of May, supported by demand from customers in Asia, sources told Fastmarkets on Wednesday May 20.At least three cargoes of Iranian billet, totaling up to 100,000 tonnes and scheduled for shipment in July-early August, were sold at $348-350 per tonne fob this week to China and Southeast Asia, they said. Seven days a...Read More

CHINA REBAR: Domestic demand drops after prices surge to 4-month highs

May 21, 2020 / Staff reporter

Trading activity in China's domestic rebar market dropped on Wednesday May 20 after prices rose to their highest since the Chinese New Year a day earlier, but they held up during the day despite the weaker demand.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($501-505) per tonne, unchangedBuyers cut their procurement rates during the day amid the high prices after seeing rebar futures fluctu...Read More

European FeCr markets increase amid increased spot buying [CORRECTED]

May 21, 2020 / Staff reporter

The high-carbon and low-carbon ferro-markets in Europe increased in price last week, while industry sources reported around 900 tonnes of done deals in the former and about half of that for more refined-grade material.The high-carbon ferro-chrome price spread narrowed to $0.12 per lb after deals were reported that raised the lower end of the assessment.Deals for around 900 tonnes were reported and...Read More

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