Base Metal Stocks Articles

Cobalt sulfate price falls on aggressive consumer bids, smaller purchase volumes

November 22, 2019 / Staff reporter

The Chinese cobalt sulfate price fell again in the latest pricing session, under constant pressure since mid-October from significantly shrinking buying appetite amid a bearish near-term outlook for electric vehicle (EV) development. Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price dropped to 44,000-46,000 yuan ($6,248-6,532) per tonne on Wednesday November 20, do...Read More

Trade log November 2019: Cobalt sulfate

November 22, 2019 / Staff reporter

Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are in yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% basis, China ex-works, adjustment to the standard-grade cobalt low-end price is on a $ per lb basis.Fastmarkets prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20....Read More

DAILY SCRAP REPORT: Mills pause deep-sea bookings amid weak finished steel sales

November 22, 2019 / Staff reporter

Turkish steel producers have held back from the deep-sea scrap market for a day and made no bookings, although prices remained steady, sources said on Thursday November 21.The mills booked five deep-sea scrap cargoes last week, totaling 180,000 tonnes, but have now slowed down their purchases. Only two deep-sea cargoes have been booked so far this week, totaling 62,500 tonnes.The main problem for...Read More

INTL RECYCLED AL CONF: Delegates bullish for 2020 after disruptive year for scrap, secondary

November 22, 2019 / Staff reporter

The macro-induced downtrend in primary and secondary aluminium prices is a temporary market set-up, according to bullish delegates at Fastmarkets' International Recycled Aluminium Conference in Hamburg on November 12-14. "There is kind of a bearish sentiment that is related to global recessions, dips in the London Metal Exchange three-month aluminium price and Chinese scrap import news," Russian a...Read More

Indonesia's transshipment ban forces scrap traders to divert cargoes, seek out new supply

November 22, 2019 / Staff reporter

Traders are scrambling to divert their transshipped containerized cargoes of ferrous scrap bound for Indonesia to other destinations and find new supply sources in response to new import restrictions issued last month by the country's trade ministry."I'm working to divert my containerized scrap cargoes to other ports in Asia because the new regulations do not allow transshipment," a trader in East...Read More

MORNING VIEW: LME base metals prices mixed, risk sentiment weaker in line with increased trade tension

November 22, 2019 / Staff reporter

Discouraging news from China over the "phase one" trade deal with the United States has led to less risk appetite, which for now is affecting the broader markets more than the metals, which were broadly firmer on Thursday November 21.Asian equities weaker, led by a 1.5% decline in the Hang Seng. US 10-year treasury yields fall as the outlook for a trade deal deteriorates. Base metalsThree-month ba...Read More

Cobalt sulfate price falls on aggressive consumer bids, smaller purchase volumes

November 22, 2019 / Staff reporter

The Chinese cobalt sulfate price fell again in the latest pricing session, under constant pressure since mid-October from significantly shrinking buying appetite amid a bearish near-term outlook for electric vehicle (EV) development. Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price dropped to 44,000-46,000 yuan ($6,248-6,532) per tonne on Wednesday November 20, do...Read More

EUROPE HRC: Sentiment positive with prices firm but not rising

November 22, 2019 / Staff reporter

Domestic prices for hot-rolled coil in Europe have been stable day on day, but the mood in the market remained upbeat, sources told Fastmarkets on Thursday November 21.Northern Europe"Workable" prices and a few deals have been heard at ?,?420-425 ($465-470) per tonne ex-works, but market sources suggested that mills could give additional discounts of about ?,?5 per tonne to specific buyers for Dec...Read More

CHINA HRC: Trading activity drops on emerging caution

November 22, 2019 / Staff reporter

Trading activity in China's hot-rolled coil market thinned on Thursday November 21, with participants exercising caution after several days of gains.DomesticEastern China (Shanghai): 3,660-3,680 yuan ($521-524) per tonne, narrowing downward by 20 yuan per tonneNorthern China (Tangshan): 3,650-3,670 yuan per tonne, widening downward by 20 yuan per tonneBuying slowed across the country, which exerte...Read More

US domestic rebar price softens despite scrap uptrend

November 22, 2019 / Staff reporter

US domestic rebar prices declined further in the two weeks to Wednesday November 20, falling to their lowest since early January 2018, while import prices narrowed downward slightly in the same comparison.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US declined to $29.25-30.25 per hundredweight ($585-605 per short ton) on November 20, down by 0.8% from $29.75-30.25 per cwt p...Read More

Brazilian steel use up 1.5% in October as rebar demand, imports pick up

November 22, 2019 / Staff reporter

Brazil's apparent steel use in October reversed a four-month run of declines, led by shipments of long steel products, with new orders for rebar in particular picking up in the country since late in the third quarter and import volumes soaring during the month.Steel consumption in October totaled 1.8 million tonnes, which was a 1.5% year-on-year increase from 1.77 million tonnes, national steelmak...Read More

TURKEY LONG STEEL: Weak demand, costlier scrap keep prices flat

November 22, 2019 / Staff reporter

Domestic rebar and wire rod prices in the Turkish market remained fairly stable over the past week despite firming scrap prices, sources said on Thursday November 21.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 2,870-2,880 Turkish lira ($503-505) per tonne including 18% VAT on Thursday, compared with the last week's 2,850-2,900 Turkish lira.The do...Read More

DAILY SCRAP REPORT: Mills pause deep-sea bookings amid weak finished steel sales

November 22, 2019 / Staff reporter

Turkish steel producers have held back from the deep-sea scrap market for a day and made no bookings, although prices remained steady, sources said on Thursday November 21.The mills booked five deep-sea scrap cargoes last week, totaling 180,000 tonnes, but have now slowed down their purchases. Only two deep-sea cargoes have been booked so far this week, totaling 62,500 tonnes.The main problem for...Read More

IRON ORE DAILY: 65% seaborne price up as winter season demand grows

November 22, 2019 / Staff reporter

The Fastmarkets index for iron ore 65% Fe Brazil-origin, cfr Qingdao was lifted on Thursday November 21 amid growing winter season demand, while lump premiums posted smaller gains.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.67 per tonne, up $0.34 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.70 per tonne, up $0.34 per tonne.62% Fe low-alumina fines, cfr Qingdao:&n...Read More

Indonesia's transshipment ban forces scrap traders to divert cargoes, seek out new supply

November 22, 2019 / Staff reporter

Traders are scrambling to divert their transshipped containerized cargoes of ferrous scrap bound for Indonesia to other destinations and find new supply sources in response to new import restrictions issued last month by the country's trade ministry."I'm working to divert my containerized scrap cargoes to other ports in Asia because the new regulations do not allow transshipment," a trader in East...Read More

CIS STEEL BILLET: Positive mood prevails in export market after rise in demand

November 22, 2019 / Staff reporter

Sentiment in the CIS export billet market has improved in the second half of November due to an increase in demand after a rise in scrap prices.A significant number of sales to Africa, the Middle East and Asia have taken place in recent weeks, supported by bullish sellers despite some producers having already sold their December allocations.Recent billet...Read More

TURKEY STEEL BILLET: Domestic, export prices steady despite softening demand

November 22, 2019 / Staff reporter

Domestic and export prices for steel billet in Turkey have remained stable over the past week, but demand for the material was weakening, sources said on Thursday November 21.Fastmarkets' weekly price assessment for steel billet, domestic, exw Turkey, was $400-405 per tonne on Thursday, unchanged week on week.Only one Turkish steel mill was heard buying billet at $400 per tonne ex-works this week....Read More

EGYPT STEEL BILLET, REBAR: Prices continue climbing on strong demand

November 22, 2019 / Staff reporter

Prices for steel rebar and billet in Egypt continued to rise in the week ended Thursday November 21, with strong demand for rebar in the country, sources told Fastmarkets.Egyptian rebar producers were offering material at E ?9,850-10,370 ($611-643) per tonne ex-works including 14% VAT, up from last week's E ?9,600-10,370 per tonne ex-works including VAT.Some Egyptian...Read More

Scrap recycling, clean energy key to securing waste-free EAF steelmaking, industry bodies say

November 22, 2019 / Staff reporter

Steelmaking in electric arc furnaces (EAF) is already a good example of a waste-free circular economy since more than half of global steel output is being recycled, even if higher-quality materials are still produced from virgin materials and fossil-fueled processes, the president of the European Steel Technology Platform (ESTEP) said at a workshop in Bergamo, northern Italy last week. Carl de Mar...Read More

Tata Steel plans to cut up to 3,000 jobs in Europe

November 22, 2019 / Staff reporter

Tata Steel has outlined proposals to build a stronger and more sustainable business in Europe, which include cutting up to 3,000 jobs, the company said on Monday November 18.The programme is needed to "ensure the business can thrive despite severe market headwinds which have led to a sharp decline in profitability", the company said.In the first six months of its current financial year, which comm...Read More

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