Base Metal Stocks Articles

EC extends anti-dumping duties on imports of CR stainless steel from China, Taiwan

September 17, 2021 / Staff reporter

The European Commission (EC) has extended definitive anti-dumping duties on imports of stainless steel cold-rolled (SSCR) flat products from China and Taiwan.The decision, published in the Official Journal of the European Union on Thursday September 16, followed an expiry review lodged by the European steel association Eurofer in May. The extended duties will now remain in place until 30...Read More

ENERGY TRANSITION: AMAG to be carbon-neutral by 2040, calls for better green energy policies

September 17, 2021 / Staff reporter

Austria Metall AG (AMAG) has committed to carbon neutrality by 2040 and has called for politicians to create a framework for the stable supply of green energy at competitive prices in good time.The company laid out its strategy to achieve net-zero carbon emissions, which will focus on increased recycling, energy efficiency and the replacement of fossil fuels.Like its peers in the metals and mining...Read More

EGYPT STEEL BILLET, REBAR: Buyers wait for lower prices

September 17, 2021 / Staff reporter

Steel rebar and billet buyers in Egypt are waiting for prices to fall further before placing orders, sources told Fastmarkets.Global billet and rebar prices have recently been weakening; buyers in Egypt are waiting for prices to flatten before placing orders.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $610-620 per tonne on September 16, falling from $620-...Read More

EU car registrations drop in July, August

September 17, 2021 / Staff reporter

Sales of passenger cars in the European Union recorded double-digit falls in both July and August 2021, the European Automotive Manufacturers Association (ACEA) said on Thursday September 16.The decrease followed a continuous rise in car registrations in March-June 2021.Car registrations in the EU decreased by 23.20% year on year to 823,949 units in July 2021 and by 19.05% year on year to 622,993...Read More

EU GREEN STEELMAKING: Tata Steel Netherlands opts for hydrogen route, but govt support vital

September 17, 2021 / Staff reporter

Tata Steel will adopt hydrogen technology at its steelworks at IJmuiden in the Netherlands as part of its sustainability process, the company announced on Wednesday September 15.The company already has a goal for the works to reduce its CO2 emissions by 5 million tonnes per year by 2030, and it has been exploring technological options to achieve this, including the capture and storage of CO2 or a...Read More

SOUTHERN EUROPE WIRE ROD: Weaker scrap, cheap imports weigh on prices

September 17, 2021 / Staff reporter

Domestic prices for steel wire rod in Italy have widened downward over the past seven days amid sluggish buying, a decline in scrap prices and the availability of cheap imports, Fastmarkets heard on Wednesday September 15.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, was ?,?800-845 ($945-998) per tonne on Wednesday, widening downward b...Read More

Thyssenkrupp sells Italian stainless steelmaker Acciai Speciali Terni to Arvedi

September 17, 2021 / Staff reporter

Steelmaker Arvedi is in the process of purchasing fellow Italian stainless steel producer Acciai Speciali Terni (AST) from Thyssenkrupp, the German steelmaker said on Thursday September 16.The sale, which is subject to approval by Thyssenkrupp's supervisory board and merger control clearance, also includes associated sales organizations in Germany, Italy and Turkey. The sale is expected to be comp...Read More

IN CASE YOU MISSED IT: 5 key stories from September 16

September 17, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....Read More

LIVE FUTURES 16/09: Nickel down 3.1%, copper down 2.7% with dollar at 3-week high

September 17, 2021 / Staff reporter

London Metal Exchange base-metals prices were mostly lower at the 5pm close of trading on Thursday September 16, with a rise in the US dollar and the intended release of more metal from China's reserves weighing on the complex.The US Dollar Index reached its highest on Thursday since August 27, with an intraday high of 92.97. The index was well bid, with investors expecting a hawkish view from the...Read More

Russia may triple tax on iron ore extraction from 2022

September 17, 2021 / Staff reporter

The Russian government is considering a near-threefold rise in the minerals extraction tax (MET) on iron ore from 2022 in order to balance the federal budget, sources told Fastmarkets on Wednesday September 15.The current MET on conditioned ores of ferrous metals in Russia is applied at 16.8%. This is calculated from a fixed base rate of 4.8% multiplied by a coefficient, which is currently 3.5, ac...Read More

TURKEY LONG STEEL EXPORTS: Prices stable despite limited demand

September 17, 2021 / Staff reporter

Turkish rebar and wire rod export prices remained largely unchanged this week due to a lack of demand, market participants told Fastmarkets on Thursday September 16.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was stable week on week at $660-670 per tonne on Thursday.The country's steelmakers have been offering the material for export...Read More

ASIA STEEL SCRAP DIGEST: Japanese sellers withhold offers amid domestic uptick

September 17, 2021 / Staff reporter

Increasing steel production rates in Japan are making Japanese yards increasingly reluctant to offer cargoes to China, market sources told Fastmarkets this week. Better margins to be found in Japan's domestic marketTaiwan continues to chase containerized cargoesContainer scrap offers to Bangladesh fall amid sluggish demandChinaA slowdown in downstream demand has continued to weight on spot demand...Read More

DAILY STEEL SCRAP: Mills retreat from deep-sea bookings after buying spree

September 17, 2021 / Staff reporter

Turkish steel mills withdrew from the deep-sea scrap markets after booking several cargoes for October shipment, sources told Fastmarkets on Thursday September 16.Turkish steelmakers have booked at least five deep-sea cargoes so far in the reported week from the United States, Canada and Baltic Sea. Market participants generally agree that most steelmakers in the country have replenished their sto...Read More

IN CASE YOU MISSED IT: 5 key stories from September 16

September 17, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....Read More

ASIA STEEL SCRAP DIGEST: Japanese sellers withhold offers amid domestic uptick

September 17, 2021 / Staff reporter

Increasing steel production rates in Japan are making Japanese yards increasingly reluctant to offer cargoes to China, market sources told Fastmarkets this week. Better margins to be found in Japan's domestic marketTaiwan continues to chase containerized cargoesContainer scrap offers to Bangladesh fall amid sluggish demandChinaA slowdown in downstream demand has continued to weight on spot demand...Read More

DAILY STEEL SCRAP: Mills retreat from deep-sea bookings after buying spree

September 17, 2021 / Staff reporter

Turkish steel mills withdrew from the deep-sea scrap markets after booking several cargoes for October shipment, sources told Fastmarkets on Thursday September 16.Turkish steelmakers have booked at least five deep-sea cargoes so far in the reported week from the United States, Canada and Baltic Sea. Market participants generally agree that most steelmakers in the country have replenished their sto...Read More

TURKEY STEEL BILLET: Markets remain weak on poor finished steel sales

September 17, 2021 / Staff reporter

Steel billet prices in Turkey have gone down over the past week amid soft demand, market participants told Fastmarkets on Thursday September 16.The suppliers in the Commonwealth of Independent States have reduced their billet offers to Turkish customers to $620-625 per tonne cfr.But Turkish buyers were bidding only $600-605 per tonne cfr, because domestic material was available at $620 per tonne e...Read More

LIVE FUTURES 16/09: Nickel down 3.1%, copper down 2.7% with dollar at 3-week high

September 17, 2021 / Staff reporter

London Metal Exchange base-metals prices were mostly lower at the 5pm close of trading on Thursday September 16, with a rise in the US dollar and the intended release of more metal from China's reserves weighing on the complex.The US Dollar Index reached its highest on Thursday since August 27, with an intraday high of 92.97. The index was well bid, with investors expecting a hawkish view from the...Read More

COKING COAL DAILY: Offer prices for US-origin coking coal rise, traders hold back

September 17, 2021 / Staff reporter

The hard coking coal cfr price rose on Thursday September 16 after Wednesday's surge in the premium hard coking coal cfr price, while offer prices for US-origin coking coal rose further, with market participants in China reluctant to procure material.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $560.76 per tonne, up $0.76 per tonneHard coking coal, cfr Jingtang: $486.93 per tonne, up...Read More

Open Mineral raises $33mln from Mubadala, others in series C investment round

September 17, 2021 / Staff reporter

Open Mineral has raised $33 million in a series C investment round that saw Mubadala Investment Co, Statkraft and Lingfeng Capital take stakes in the company.Founded in 2017 by former Glencore asset managers Boris Eykher and Ilya Chernilovskiy, Switzerland-based Open Mineral aims to apply digital tools and transparency to the world of metal concentrates trading.Having started with an online platfo...Read More

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