Base Metal Stocks Articles

EU new car sales up more than 8% vs last year in October

November 20, 2019 / Staff reporter

Demand for passenger cars in Europe jumped by 8.68% year on year in October 2019, the European Automotive Manufacturers Association (ACEA) said on Tuesday November 19. New car sales in Europe totaled 1,177,746 vehicles in October this year, compared with 1,083,693 units sold in the corresponding month of 2018. The ACEA attributed the annual rise to a lower number of registrations in October 2018 f...Read More

RUSSIA FLAT STEEL: Weak demand pushes prices lower

November 20, 2019 / Staff reporter

Seasonally weak demand in Russia's Central Federal District around Moscow has pushed prices for hot-rolled and cold-rolled steel sheet lower, sources told Fastmarkets on Monday November 18.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,000-40,000 roubles ($611-627) per tonne on November 18, including 20% VAT. This was down from 39,500-41,000 r...Read More

Mexican ferrous scrap prices up on tighter supply

November 20, 2019 / Staff reporter

Mexican ferrous scrap prices inched upward during the week ended Friday November 15, with prices for most grades increasing by 150-350 pesos in the steelmaking regions of Bajio and Monterrey.A seller in the Bajio market expects prices to continue to climb due to tighter local scrap supply and increased prices for imported scrap from the United States. While one outlying Bajio mill trimmed pri...Read More

COKING COAL DAILY: Sustained Chinese demand for low-vol products supporting prices

November 20, 2019 / Staff reporter

Import hurdles that emerged in some ports in China last week do not appear to have had much of an effect on the seaborne coking coal market, with a cargo of premium low-vol product fetching $145 per tonne cfr China on Tuesday November 19.Fastmarkets indicesPremium hard coking coal, fob DBCT: $131.91 per tonne, down $1.81 per tonnePremium hard coking coal, cfr Jingtang: $144.14 per tonne, down $3.6...Read More

IRON ORE DAILY: 62% seaborne prices little changed on uncertain demand outlook

November 20, 2019 / Staff reporter

The mid-grade seaborne iron ore price was rangebound on Tuesday November 19 after market participants reported being wary of growing port inventories and unhealthy pollution levels in the steelmaking hub of Tangshan in north China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $85.80 per tonne, up $0.03 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $85.83 per tonne, up $0.03 per to...Read More

CHINA HRC: Strong trading activity drives up prices further

November 20, 2019 / Staff reporter

China's hot-rolled coil prices picked up even more upward momentum on Tuesday November 19 amid robust buying activity.DomesticEastern China (Shanghai): 3,650-3,660 yuan ($520-521) per tonne, up 30-40 yuan per tonneNorthern China (Tangshan): 3,610-3,620 yuan per tonne, up 40-50 yuan per tonnePrices rose by bigger margins during the day on strong trading activity in both eastern and northern China.A...Read More

CHINA REBAR: Steady demand pushes up domestic prices

November 20, 2019 / Staff reporter

China's domestic rebar prices continued to rise on Tuesday November 19 on steady demand amid gains in the futures market.Eastern China (Shanghai): 3,980-4,020 yuan ($567-573) per tonne, up 40-50 yuan per tonne Northern China (Beijing): 3,740-3,770 yuan per tonne, up 20 yuan per tonneEnd-user demand for rebar remained strong, with procurement rates rising in tandem with the futures market that stre...Read More

JFE Steel, Baowu Steel affiliate enter joint venture to tap Chinese auto demand

November 20, 2019 / Staff reporter

JFE Steel Corp and an affiliate of China's largest steelmaker Baowu Steel is setting up a joint venture to tap into demand for high-grade special steel bar from the Chinese automotive sector.The move will see JFE Steel take a 50% share in Baosteel Special Steel Shaoguan Co, while the latter's existing parent Guangdong Shaoguan Iron & Steel Songshan Co (SGIS) will hold the other half of the stake,...Read More

Tech Talk for Wednesday November 20th 2019

20/11/2019 / Staff reporter

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade.The Canadian Dollar was virtually unchanged at U.S. 75.25 cents following release of Canada's October Consumer Price Index at 8:30 AM EST. Consensus was a year-over-year gain of 1.9% versus an increase of 1.9% in September. Actual was a gain of 1.9%. Urban Outfitters plunged $4.70 to $24....Read More

LIVE FUTURES REPORT 18/11: LME lead price sinks below $2,000 per tonne; fresh inflows put pressure on aluminium

November 19, 2019 / Staff reporter

The three-month lead price on the London Metal Exchange was lower at the close of trading on Monday November 18, with the price settling below the $2,000 per tonne support level for the first time since September, while continued inflows pushed aluminium futures lower.Lead's outright price closed at $1,953.50 per tonne in the afternoon, its lowest close since August 2, while turnover was at its hi...Read More

FOCUS: On-warrant aluminium stocks jump 30% but LME Jan backwardation remains

November 19, 2019 / Staff reporter

More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More

FREE WEB SEMINAR: Introducing the new Fastmarkets LME aluminium MJP contract

November 19, 2019 / Staff reporter

Fastmarkets will host a free web seminar on Monday November 25 at 9:30am London time, to introduce the new Fastmarkets-settled London Metal Exchange cash-settled main Japanese ports (MJP) aluminium premium contract.The webinar will cover how Fastmarkets assesses its spot MJP aluminium premium, an insight into current market dynamics and how you can manage your risk with the new LME cash-settled co...Read More

Low-grade manganese ore price shows first rise since August, high-grade consolidates

November 19, 2019 / Staff reporter

The price of seaborne low-grade manganese ore managed to tick upward in the latest assessment period, which ended on Friday November 15, amid a revival in buying appetites.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, rose by 3 cents week on week to $3.28 per dry metric tonne unit (dmtu) on November 15, the first rise recorded since late August, when the price was $5.04 per dmtu.Fastmarke...Read More

GLOBAL TUNGSTEN SNAPSHOT: Chinese APT price weakens on thin demand; European market steady on firm offers

November 19, 2019 / Staff reporter

Key data from the pricing sessions in London and Shanghai in the week to Friday November 15.ChinaKey drivers China's ammonium paratungstate (APT) export market softened in line with weakness in the domestic market and a depreciation of yuan. Thin inquiries in response to muted demand abroad has caused China exporters to cut their offer prices to attract business. China's domestic tungsten concentr...Read More

GLOBAL FERRO-SILICON SNAPSHOT: Prices remain steady worldwide amid stagnant demand

November 19, 2019 / Staff reporter

Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 15.ChinaThe domestic spot alloy price in China remained steady with producers continuing to report limited supply of 75% grade material but that demand also remains weak. The export alloy price was similarly unchanged after major Chinese suppliers refused...Read More

GLOBAL ANTIMONY SNAPSHOT: Bearish sentiment takes over Chinese, European markets

November 19, 2019 / Staff reporter

Key data from the pricing sessions in Asia and Europe in the week to Friday November 15. China Key drivers  The antimony, MMTA standard grade II, ddp China price fell for the second consecutive week after some of the country's suppliers slashed offer prices further to secure business amid scant inquiries from consumers.  Chinese antimony consumers either procured on a hand-to-mouth...Read More

Low-grade manganese ore price shows first rise since August, high-grade consolidates

November 19, 2019 / Staff reporter

The price of seaborne low-grade manganese ore managed to tick upward in the latest assessment period, which ended on Friday November 15, amid a revival in buying appetites.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, rose by 3 cents week on week to $3.28 per dry metric tonne unit (dmtu) on November 15, the first rise recorded since late August, when the price was $5.04 per dmtu.Fastmarke...Read More

DAILY SCRAP REPORT: European cargo pushes prices upward

November 19, 2019 / Staff reporter

Turkish scrap import prices have increased once again on news of a European cargo being sold at the beginning of the week, although mills were still worried about soft demand for finished long steel products, sources said on Monday November 18.A steel mill in the Iskenderun region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 7,500 tonnes of a mixture of HMS 1 and plate and...Read More

TURKEY FERROUS SCRAP: Domestic auto bundle prices rise, ship scrap to follow

November 19, 2019 / Staff reporter

Domestic auto bundle scrap prices in Turkey have increased in line with rising imported scrap values, with local ship scrap prices expected to follow soon, sources said on Monday November 18.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,455-1,640 Turkish lira ($253-286) per tonne on Monday, up from 1,455-1,560 lira per tonne last week.Th...Read More

INTERVIEW: 'Our industry is always searching for a competitive edge' - Wendt Corp president

November 19, 2019 / Staff reporter

Now under the leadership of Tom Wendt Jr, the family owned and operated Wendt Corp has served the scrap metal recycling industry for over 40 years. Bette Kovach asks him about the growth of the business founded by his father, now chairman, in 1977 and company strategy to supply ever more demanding markets.Wendt CorpWhile still in high school, Tom Wendt accompanied his father, Thomas Wendt Sr, to a...Read More

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