Base Metal Stocks Articles

China's daily crude steel output flat in mid-August

September 11, 2019 / Staff reporter

Major Chinese steel mills' daily crude steel output rates were largely unchanged in mid-August, but their finished steel inventories increased.Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.0542 million tonnes per day in the second 10 days of August, up 0.3% from 2.0481 million tpd in the first 10 days...Read More

WEEKLY BASE METAL PREMIUMS REPORT: 10/09

September 11, 2019 / Staff reporter

A summary of base metals premiums from across the globe for the week to Tuesday September 10.Please click...Read More

LIVE FUTURES REPORT 10/09: LME aluminium, copper prices buoyed by strong trading volumes

September 11, 2019 / Staff reporter

The three-month aluminium and copper prices on the London Metals Exchange defied a stronger dollar index to trade significant volumes by the end of the day's trading on Tuesday September 10. "Flow [of trading] this past week has been systematic short-covering and trading volumes are coming back under pressure suggesting prices will struggle to move aggressively," Marex Spectron said in a morning n...Read More

China's CRC export prices stable despite Vietnam anti-dumping probe

September 11, 2019 / Staff reporter

Chinese cold-rolled coil export prices remained unchanged over the past week despite an anti-dumping investigation being instigated in Vietnam.Vietnam's Ministry of Industry & Trade launched the probe after requests from several Vietnamese producers. The investigation encompasses non-alloy cold-rolled steel sheet and coil in widths of less than 1,600mm and in thi...Read More

Higher spot copper premium cif Shanghai can't change bearish view on 2020 benchmark - sources

September 11, 2019 / Staff reporter

Chinese spot copper premiums hit nine-month highs during a recent copper conference in the Chinese city of Qiqihar (September 5-6), but delegates were less optimistic for the annual benchmark contract negotiations for 2020. Fastmarkets looks at the key topics dominating the Chinese copper industry into the fourth quarter. Spot copper premiums basis cif Shanghai and in-warehouse Shanghai hit n...Read More

IN CASE YOU MISSED IT: 5 key stories from September 10

September 11, 2019 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Tuesday September 10 that are worth another look.Codelco, the world's largest copper producer, will keep its European copper cathode premium for 2020 supply at $98 per tonne, the same level as for 2019, sources told Fastmarkets on September 10.Demand from the Asian energy sector and domestic buyers in Indonesia will continue to support...Read More

Higher spot copper premium cif Shanghai can't change bearish view on 2020 benchmark - sources

September 11, 2019 / Staff reporter

Chinese spot copper premiums hit nine-month highs during a recent copper conference in the Chinese city of Qiqihar (September 5-6), but delegates were less optimistic for the annual benchmark contract negotiations for 2020. Fastmarkets looks at the key topics dominating the Chinese copper industry into the fourth quarter. Spot copper premiums basis cif Shanghai and in-warehouse Shanghai hit n...Read More

LIVE FUTURES REPORT 10/09: LME aluminium, copper prices buoyed by strong trading volumes

September 11, 2019 / Staff reporter

The three-month aluminium and copper prices on the London Metals Exchange defied a stronger dollar index to trade significant volumes by the end of the day's trading on Tuesday September 10. "Flow [of trading] this past week has been systematic short-covering and trading volumes are coming back under pressure suggesting prices will struggle to move aggressively," Marex Spectron said in a morning n...Read More

LME queue for aluminium at Istim's Port Klang warehouses rises again

September 11, 2019 / Staff reporter

The queue to remove aluminium from London Metal Exchange-approved warehouses operated by Istim in Port Klang, Malaysia, doubled to 64 days at the end of August, according to the latest LME data. At the end of July the queue was down to just 33 days, but a series of large cancellations throughout August have extended the time taken for metal to be delivered out of warehouses once again. Around 86,0...Read More

COKING COAL DAILY: Chinese buying activity supports prices

September 11, 2019 / Staff reporter

Seaborne coking coal prices were flat on Tuesday September 10, with Chinese market participants anticipating some strength in prices towards the end of the year but expecting downward pressure in the short term.Fastmarkets indicesPremium hard coking coal, fob DBCT: $150.76 per tonne, down $1.44 per tonne Premium hard coking coal, cfr Jingtang: $169.26 per tonne, up $0.19 per tonneHard co...Read More

CIS STEEL BILLET: Prices keep falling on sluggish demand, weak scrap market

September 11, 2019 / Staff reporter

Export prices for steel billet from the CIS region continued to drop in the second week of September under pressure from low demand and the weakening of the international scrap market.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $366 per tonne on Tuesday September 10, down by $4 per tonne day on day.There were few indications of offers on Tuesday. Market participants repo...Read More

DAILY SCRAP REPORT: Prices down again after latest Baltic Sea trade

September 11, 2019 / Staff reporter

Turkish deep-sea scrap import prices fell again on Tuesday September 10, after a Baltic Sea supplier agreed to accept a lower bid from a Turkish steel mill.Late on Monday, a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr.And other Baltic Sea scrap suppliers were offering HMS 1&2 (80:20) at $245 per tonne cfr.As a result....Read More

IN CASE YOU MISSED IT: 5 key stories from September 10

September 11, 2019 / Staff reporter

Here are five Fastmarkets MB stories you might have missed on Tuesday September 10 that are worth another look.Codelco, the world's largest copper producer, will keep its European copper cathode premium for 2020 supply at $98 per tonne, the same level as for 2019, sources told Fastmarkets on September 10.Demand from the Asian energy sector and domestic buyers in Indonesia will continue to support...Read More

Chilean copper output up 0.9% in July; lower volumes from Codelco, Escondida

September 11, 2019 / Staff reporter

Chilean copper production rose by 0.9% year-on-year in July 2019 with growth at the Esperanza, Collahuasi and Spence mines offsetting lower output from Codelco, Escondida and Anglo American.The country produced 486,500 tonnes of copper content during the month, compared with 482,000 tonnes a year earlier, Chilean copper commission Cochilco said on Monday September 9. Volumes had not grown on the s...Read More

LME queue for aluminium at Istim's Port Klang warehouses rises again

September 11, 2019 / Staff reporter

The queue to remove aluminium from London Metal Exchange-approved warehouses operated by Istim in Port Klang, Malaysia, doubled to 64 days at the end of August, according to the latest LME data. At the end of July the queue was down to just 33 days, but a series of large cancellations throughout August have extended the time taken for metal to be delivered out of warehouses once again. Around 86,0...Read More

LIVE FUTURES REPORT 10/09: LME copper price dips below $5,800/t; Al maintains support

September 11, 2019 / Staff reporter

The three-month copper price on the London Metal Exchange was slightly lower during morning trading on Tuesday September 10, falling below its nearby $5,800 per tonne support level amid broad complex weakness, while aluminium futures stayed above the $1,800 per tonne threshold. Volumes traded in copper over the morning have been moderate, topping the complex at around 4,400 lots exchanged as of 9:...Read More

LIVE FUTURES REPORT 10/09: SHFE nickel price outperforms with 1.5% gain, others mixed

September 11, 2019 / Staff reporter

Base metals prices on the Shanghai Futures Exchange exhibited mixed movements during morning trading on Tuesday September 10 while the complex reacts to global economic growth concerns and China relaxing its monetary policy. China's disappointing trade data for August, with exports unexpectedly down 1% year on year, weighed on market sentiment at a time when trade tensions between the world's top...Read More

Oil price stability, Indonesia demand to boost steel plate prices in Q4, Japanese mill says

September 11, 2019 / Staff reporter

Demand from the Asian energy sector and domestic buyers in Indonesia will continue to support steel plate prices in the final quarter of this year, a source close to a leading Japanese steelmaker told Fastmarkets this week."Crude oil prices have been hovering about $50-60 per barrel and this has led to more interest from the energy sector to increase steel procurement," the source said.This was mo...Read More

Asia HRC prices to rebound in Q4, major Japanese mill says

September 11, 2019 / Staff reporter

A top Japanese steelmaker is expecting a rebound in prices for hot-rolled coil (HRC) in Asia in the fourth quarter of the year, based on the bullish fundamentals which should be seen during that period, Fastmarkets has heard."Aggressive export offers from Indian mills - due to weak domestic demand during the monsoon season and short-selling by traders which held bearish oulooks on the spot market...Read More

GULF STEEL BILLET, REBAR: Billet prices down, rebar set to follow

September 11, 2019 / Staff reporter

Import prices for steel billet in the United Arab Emirates have gone down because of the global fall in steel prices and poor demand, and rebar prices were expected to start a similar downtrend soon, sources said on Tuesday September 10.Market participants were expecting new prices to be announced in the near future, Fastmarkets was told.Domestic rebarEmirates Steel is the UAE's largest producer,...Read More

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