Base Metal Stocks Articles

China billet contract cancellation fears send SE Asian prices tumbling

February 08, 2020 / Staff reporter

Prices in Southeast Asia's steel billet market have tumbled over the past week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure. Market participants are concerned that any revoked transactions could result in low-priced material being offered to Southeast Asia, placing pressure on regional billet prices. Billet suppliers affected in...Read More

Long Steel Products Trade Log, February 7, 2020

February 08, 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:Rebar East China, domestic, grade III...Read More

UK SCRAP: Light iron market falls more than 11%

February 08, 2020 / Staff reporter

The inter-merchant spot market for light iron scrap in the UK dropped by 11.1% in the week ended Friday February 7, with domestic prices broadly reflecting similar moves in the European export markets to Turkey and the Indian subcontinent over the same period, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More

EUROPE ALLOY STEEL SCRAP: UK austenitic prices edge higher in line with nickel

February 08, 2020 / Staff reporter

The price of austenitic stainless steel scrap in the UK domestic market widened upwards on slightly firmer nickel costs, sources told Fastmarkets on Friday February 7. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?750-790 ($972-1,024) per tonne on Friday, up...Read More

DAILY SCRAP REPORT: Turkish demand for deep-sea scrap cargoes improves

February 08, 2020 / Staff reporter

Turkish steel producers continued to book deep-sea scrap cargoes at the end of the week to replenish their low stock levels, sources said on Friday February 7.A steel mill in the Iskenderun region booked a US cargo at $260 per tonne cfr for HMS 1&2 (80:20), although the cargo breakdown was not clear at the time of publication.This compares with a previous US cargo sold at a similar price on Thursd...Read More

Brazilian slab export prices little-changed as offers resume

February 08, 2020 / Staff reporter

Brazilian slab export prices widened upward slightly in the week ended Friday February 7, with the first negotiations for April-shipment volumes taking place.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on February 7, up from $460-475 per tonne a week before.Producers were expected to focus on the North American market for April shipment...Read More

CHINA REBAR: Prices flat ahead of next week's construction restart

February 08, 2020 / Staff reporter

China's domestic rebar prices remained unchanged on Friday February 7 amid weak trading despite an expected rise in construction activity from next week.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMany construction projects in Shanghai are scheduled to resume work next week, though a few of them have put o...Read More

China billet contract cancellation fears send SE Asian prices tumbling

February 08, 2020 / Staff reporter

Prices in Southeast Asia's steel billet market have tumbled over the past week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure. Market participants are concerned that any revoked transactions could result in low-priced material being offered to Southeast Asia, placing pressure on regional billet prices. Billet suppliers affected in...Read More

GLOBAL CHROME SNAPSHOT: Chinese domestic ferro-chrome price jumps on Coronavirus restrictions

February 08, 2020 / Staff reporter

Key data from the pricing sessions in Europe, the United States and Asia for the week ending Friday February 7. China  Coronavirus-related raw material supply disruptions and road transport restrictions pushed up domestic price.  Tightened road transport measures made it hard to find trucks to deliver alloy from smelters to stainless steel mills, sources said.  Trading activity in U...Read More

EUROPE STAINLESS STEEL: Slow demand could put downward pressure on stable prices

February 08, 2020 / Staff reporter

The price of stainless steel in the European domestic market remained unchanged this week, despite weak demand, sources told Fastmarkets on Friday February 7. Many market participants expect prices to fall in March because of recent weakness in the nickel market (despite nickel prices actually moving up slightly this week). But this expectation...Read More

PEOPLE MOVES: Outokumpu ceo Roeland Baan to step down

February 08, 2020 / Staff reporter

Outokumpu chief executive officer and president Roeland Baan will step down in May, the Finnish stainless steelmaker said on Friday February 7.He will continue in his role as the company's ceo until May 15, 2020. His successor has not yet been named by the company.Baan joined Outokumpu in January 2016....Read More

Six Philippine steelmakers' licenses suspended; long-steel supply stable

February 08, 2020 / Staff reporter

Market participants in the Philippines do not expect the domestic long steel market to face shortages, despite the country's Department of Trade and Industry (DTI) suspending six steelmakers' Philippine Standard (PS) licenses.Products from the six mills failed to meet the requirements listed in the Philippine National Standard (PNS) 49, Series of 2002, during a test the DTI's Bureau of Philippine...Read More

Ports cleared, shut down in Australia on mounting cyclone concerns

February 08, 2020 / Staff reporter

Australia's Port of Dampier in Western Australia state is being shut down at noon local time on Friday February 7 in preparation for a potential impact from a tropical cyclone that is expected to intensify during the day.The Pilbara Ports Authority (PPA) said during the day that its cyclone response procedure has been activated and with it, the Port of Dampier will be shut down, having already bee...Read More

Brazilian slab export prices little-changed as offers resume

February 08, 2020 / Staff reporter

Brazilian slab export prices widened upward slightly in the week ended Friday February 7, with the first negotiations for April-shipment volumes taking place.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on February 7, up from $460-475 per tonne a week before.Producers were expected to focus on the North American market for April shipment...Read More

MINOR METALS MARKET REPORT 07/02: Manganese flake rises, supported by coronavirus

February 08, 2020 / Staff reporter

An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More

GLOBAL MANGANESE SNAPSHOT: Higher portside manganese ore, alloys support seaborne ore market

February 08, 2020 / Staff reporter

Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 7.China The seaborne price of low-grade manganese ore rose after buyers accepted higher offers for March-delivery cargoes.Higher alloy and portside ore prices also supported the high- and low-grade seaborne markets.Hebei Steel, China's second-largest steel mill - raised its tender price...Read More

UK SCRAP: Light iron market falls more than 11%

February 08, 2020 / Staff reporter

The inter-merchant spot market for light iron scrap in the UK dropped by 11.1% in the week ended Friday February 7, with domestic prices broadly reflecting similar moves in the European export markets to Turkey and the Indian subcontinent over the same period, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More

LIVE FUTURES REPORT 07/02: Nickel's LME price down 3%, temporarily breaches $13,000 mark

February 08, 2020 / Staff reporter

The London Metal Exchange price of nickel fell by more than 3% on Friday February 7 after reaching a temporary high of $13,210 per tonne.And nickel's closing price dropped to $12,770 per tonne, in a day that saw more than 6,300 lots traded.LME nickel stocks in LME-registered warehouses were now just below 204,000 tonnes, with 3,576 tonnes of fresh cancellations seen in the LME's daily stock report...Read More

Zinc's cash/three-month spread flips to contango after 10,000t fresh inflow

February 08, 2020 / Staff reporter

Zinc's benchmark cash/three-month spread on the London Metal Exchange has moved into contango for the first time in five months after the largest inflow since last April brought on-warrant material to more than 50,000 tonnes. This is the first time LME zinc's on-warrant inventory has breached this level since August 2019. The galvanizing metal's cash/three-month spread traded in a $1.50 per tonne...Read More

IRON ORE DAILY: Cyclone concerns push seaborne prices higher; Chinese caution lingers

February 08, 2020 / Staff reporter

Seaborne iron ore prices continued to be buoyed by cyclone-led port impacts in Western Australia on Friday February 7, while doubts remained among Chinese market participants about steelmaking demand. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.59 per tonne, up $0.42 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.92 per tonne, up $0.42 per tonne. 62% Fe low-alumina fines, cf...Read More

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