Base Metal Stocks Articles

Iranian billet producers hold offers firm on strong domestic demand

March 05, 2020 / Staff reporter

Trading activity in the Iranian export billet market was limited in the week to Wednesday March 4 because of a mismatch between mills' offer prices and the bids placed by customers.Iranian billet producers continued to insist on export offers at $390 per tonne fob, referring to strong demand in the domestic market.The increased demand seen in the local market in recent weeks was the result of the...Read More

CHINA REBAR: Market expects end-user demand to rise in late March

March 05, 2020 / Staff reporter

China's domestic rebar prices were mixed on Wednesday March 4, with those in the east of the country edging higher while those in the north moved down slightly on different trading activity.Eastern China (Shanghai): 3,420-3,440 yuan ($493-496) per tonne, narrowed upward by 20 yuan per tonne Northern China (Beijing): 3,280-3,320 yuan per tonne, down 10-20 yuan per tonneIn eastern China, some tradin...Read More

TITANIUM SNAPSHOT: Markets steady with renewed demand for Q2 settlements

March 05, 2020 / Staff reporter

Key data from Fastmarkets' pricing session in Europe on Wednesday March 4. Key drivers:  Prices move into March unchanged after four weeks, although participants report signs of renewed demand for second-quarter settlements from consumers in the steel sector.European suppliers expected to push...Read More

Chinese ferro-silicon market weakened further by poor downstream performance

March 05, 2020 / Staff reporter

The Chinese ferro-silicon price continued to fall in the week to Wednesday March 4 due to high stocks and worsening magnesium price performance. Fastmarkets' price assessment for ferro-silicon 75% Si min, in-whs China was 5,800-6,000 yuan ($837-866) per tonne on Wednesday, down by 7.6% at the midpoint from 6,300-6,400 in the previous week. "The price has fallen back to where it was before the...Read More

Chinese manganese ore stock build likely to escalate amid 'bloated' supply, poor demand

March 05, 2020 / Staff reporter

A buildup of manganese ore at Chinese ports is set to escalate in the coming weeks when a jump in fresh imports adds to a spillover of material into minor ports, manganese market sources predict. Manganese ore stocks in main Chinese ports stand at 4.64-4.85 million tonnes according to Fastmarkets' latest assessment on Monday March 2, compared with 4.52-4.64 million tonnes at the end of 2019....Read More

TURKEY FLAT STEEL WRAP: Demand improves in February but price moves vary

March 05, 2020 / Staff reporter

Demand for flat steel products in Turkey improved in February because end-user stock levels were low, market participants told Fastmarkets on Wednesday March 4.Sources added that local producers have now filled their order books until late April.Local demand was moderate in Turkey in February because buyers placed orders only to replenish their stocks. The market was now uncertain about the direct...Read More

Turkey flat steel imports up 45.65% in January

March 05, 2020 / Staff reporter

Turkey's flat steel import volumes increased by 45.65% year on year in January 2020, according to the latest statistics from the Turkish Statistical Institute (TUIK).The country imported 724,601 tonnes of flat steel in January 2020, compared with 497,487 tonnes in January 2019.Demand for flat steel in Turkey was better in January 2020 compared with December 2019, with producers in Turkey full...Read More

Turkish flat steel exports down 6.77% in January 2020

March 05, 2020 / Staff reporter

Turkey's flat steel export volumes fell by 6.77% year-on-year in January, according to the latest data from the Turkish Statistical Institute (TUIK).The main reason for the decrease was the safeguard measures and quotas in Europe.The European Commission (EC) set preliminary safeguard measures on imports of 23 steel products on July 18, 2018.And the EC...Read More

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

March 05, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More

EUROPE PLATE: Domestic prices down on limited demand

March 05, 2020 / Staff reporter

Domestic prices for heavy steel plate in Europe have inched down over the past week due to poor demand, sources told Fastmarkets on Wednesday March 4.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?510-525 ($568-585) per tonne ex-works on March 4, down by ?,?5 per tonne week on week from ?,?515-530 per tonne on February 26.The assessment was based...Read More

LIVE FUTURES REPORT 04/03: LME tin price up 1.4% to close above $17,000; zinc stays below $2,000

March 05, 2020 / Staff reporter

The three-month tin price on the London Metal Exchange topped the base-metals complex at the close of trading on Wednesday March 4, climbing by just over 1.4% to close at its highest level since January 23, but zinc futures failed to gather support over the afternoon.Tin's outright price on the LME closed at $16,925 per tonne, while the metal reached an intraday high of $17,160 per tonne but faile...Read More

EUROPE CRC: Northern domestic prices under pressure from imports

March 05, 2020 / Staff reporter

Domestic prices for cold-rolled coil in Northern Europe have inched down under pressure from competitive import offers, sources told Fastmarkets on Wednesday March 4.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?535-560 ($596-624) per tonne on March 4, down by ?,?10 per tonne week on week from ?,?545-570 per tonne. The assessment reflected deals and achi...Read More

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

March 05, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday March 4 that are worth another look.Brazilian mining company Vale has decided to halt operations indefinitely at its Fazend??o iron ore mine in the south-eastern state of Minas Gerais, after an expansion permit was revoked in February by the local environmental development council.Market participants avoided sending aluminium fro...Read More

HOTTER ON METALS: Coronavirus adds pressure to diversify supply chains

March 05, 2020 / Staff reporter

The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains. Both events have demonstrated just how interconnected the global economy is and have provided a wake-up call to businesses worldwide that it might be time to reduce their reliance on China as the workshop of the world. Of course, that's easier said than done. China is th...Read More

HOTTER ON METALS: Coronavirus adds to global growth challenges

March 05, 2020 / Staff reporter

Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More

Long Steel Products Trade Log, January 23, 2020

March 05, 2020 / Staff reporter

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebarEast China, domestic, grade III 16-25mm...Read More

Key takeaways from the International Copper Conference in Amsterdam

March 05, 2020 / Staff reporter

Conversations at Fastmarkets' International Copper Conference in Amsterdam, the Netherlands, on February 26-28 revolved around the impact of the novel coronavirus (2019-nCoV) on copper production and procurement chain, as well as logistics disruptions. Coronavirus spreads to Europe The event made use of technology to enable panelists from Italy's KME, Germany's Aurubis and China's Jiangxi Copper t...Read More

FOCUS: Europe's copper industry has bigger problems than coronavirus, say key players

March 05, 2020 / Staff reporter

For key market participants in Europe's struggling copper industry, the coronavirus (2019-nCoV) epidemic further limiting demand for products was the last thing they needed.Europe, typically, consumes 16% of all global refined copper, but endured a torrid 2019 when demand for the metal dropped significantly in several major economies.A reduced need for copper in the continent shaves yet more units...Read More

FOCUS: Alumina price uptrend in China likely to continue on slow output recovery

March 05, 2020 / Staff reporter

The price of alumina in China is likely to continue edging higher while refineries in the country struggle to ramp up production amid a shortage of raw materials due to the outbreak of novel coronavirus (2019-nCoV) at the beginning of the year, market sources told Fastmarkets. "Northern Chinese regions have removed almost 6 million tonnes of alumina production since the outbreak of the virus...Read More

LIVE FUTURES REPORT 04/03: LME tin price up 1.4% to close above $17,000; zinc stays below $2,000

March 05, 2020 / Staff reporter

The three-month tin price on the London Metal Exchange topped the base-metals complex at the close of trading on Wednesday March 4, climbing by just over 1.4% to close at its highest level since January 23, but zinc futures failed to gather support over the afternoon.Tin's outright price on the LME closed at $16,925 per tonne, while the metal reached an intraday high of $17,160 per tonne but faile...Read More

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