Base Metal Stocks Articles

DAILY SCRAP REPORT: Turkish buying rally continues in deep-sea markets

June 14, 2019 / Staff reporter

Turkish steel producers have continued their deep-sea scrap purchases, increasing their combined tonnage for import to 226,000 tonnes in two days, sources said on Thursday June 13.In addition to two deep-sea cargoes booked early on June 12, four steel mills booked five more cargoes late that day.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $2...Read More

LITHIUM CONF: Chile to present new lithium mining rules next week, ministry says

June 14, 2019 / Staff reporter

The Chilean government expects to publish new lithium mining concession rules next week, in hopes that "clearer regulation" will boost projects in the country, deputy mining minister Pablo Terrazas said at Fastmarkets' 11th Lithium Supply and Markets Conference."We have decided that Chile needs to increase its lithium production, and President Sebasti??n Pi??era gave the ministry of mining the man...Read More

Chinese cobalt sulfate producers cut output amid falling prices, stagnant demand

June 14, 2019 / Staff reporter

An increasing number of cobalt sulfate producers in China have cut, or are planning to cut, output in response to falling battery raw materials prices amid stagnant demand, market sources told Fastmarkets MB.In addition, some producers have switched to producing other chemistry compounds, including cobalt chloride and nickel sulfate, sources added. But market participants have mostly downplayed th...Read More

EUROPE PLATE: Domestic prices dip on slow trading

June 14, 2019 / Staff reporter

Domestic prices for heavy steel plate across Europe have inched down over the past week due to slow trading activity, sources told Fastmarkets on Thursday June 13."I do not expect prices to recover any time soon, because trading activity is very weak in the end-markets," a representative of an Italian re-roller said.Fastmarkets' weekly price assessment for domestic grade-S235JR heavy steel plate i...Read More

EUROPE HRC: Domestic prices up, buyers turn to imports in south

June 14, 2019 / Staff reporter

The domestic price for hot-rolled coil (HRC) in the south of Europe has picked up over the past week, supported by production cuts, market sources told Fastmarkets on Thursday June 13.Steel mills in the region continued with their attempts to raise prices further, while bigger Italian buyers returned to purchasing imported material, according to market participants.Fastmarkets' weekly price assess...Read More

CHINA HRC: Further price drop, high costs put pressure on margins

June 14, 2019 / Staff reporter

China's hot-rolled coil prices continued to drop on Thursday June 13, narrowing producers' already-slim margins further amid rising costs.DomesticEastern China (Shanghai): 3,820-3,830 yuan ($552-554) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,780-3,790 yuan per tonne, narrowing downward by 10 yuan per tonnePrices continued to drop during the day with trading activity remaining th...Read More

EGYPT STEEL BILLET, REBAR: Billet prices down amid poor demand

June 14, 2019 / Staff reporter

The price of steel billet imported into Egypt has decreased in the week to June 13 on lower offers due to a lack of domestic demand.Billet producers, from the Commonwealth of Independent States (CIS) in particular, expected demand to pick up after the observance of the Islamic holy month of Ramadan, but the market remained quiet this week.The recent drop in...Read More

TURKEY LONG STEEL: Domestic prices down on falling scrap import costs, poor demand

June 14, 2019 / Staff reporter

Domestic long steel prices in Turkey have gone down over the past seven days, due to weak demand and falling imported scrap costs, sources said on Thursday June 13.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,200-3,220 ($551-554) per tonne ex-works on Thursday, down from last week's TRY3,330-3,400 per tonne.The domestic rebar price in the Izmir region was TRY3,220-3,2...Read More

TURKEY LONG STEEL EXPORTS: Falling scrap values drive prices downward

June 14, 2019 / Staff reporter

Turkish rebar and wire rod prices have gone down in line with the decline in imported scrap values, while demand has also been limited over the past week, sources said on Thursday June 13.The country's steel producers reduced their rebar offers to $460-470 per tonne fob on an actual weight basis, from the $480-490 per tonne offers heard before the Eid al-Fitr religious holiday last week.But the hi...Read More

DAILY SCRAP REPORT: Turkish buying rally continues in deep-sea markets

June 14, 2019 / Staff reporter

Turkish steel producers have continued their deep-sea scrap purchases, increasing their combined tonnage for import to 226,000 tonnes in two days, sources said on Thursday June 13.In addition to two deep-sea cargoes booked early on June 12, four steel mills booked five more cargoes late that day.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $2...Read More

IRON ORE DAILY: Seaborne prices top $110 per tonne for first time since April 2014

June 14, 2019 / Staff reporter

Seaborne iron ore prices jumped above $110 per tonne cfr on Thursday June 13 - their highest level in more than five years - driven by persistent bullishness, sources told Fastmarkets.MB 62% Fe Iron Ore Index: $110.16 per tonne cfr Qingdao, up $3.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $108.96 per tonne cfr Qingdao, up $3.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $114.50 per t...Read More

EGYPT STEEL BILLET, REBAR: Billet prices down amid poor demand

June 14, 2019 / Staff reporter

The price of steel billet imported into Egypt has decreased in the week to June 13 on lower offers due to a lack of domestic demand.Billet producers, from the Commonwealth of Independent States (CIS) in particular, expected demand to pick up after the observance of the Islamic holy month of Ramadan, but the market remained quiet this week.The recent drop in...Read More

TURKEY STEEL BILLET: Prices driven down by falling scrap costs

June 14, 2019 / Staff reporter

Turkish steel billet prices have gone down in the domestic and export markets in line with the weakening cost of scrap, while import billet prices have been stable so far this week, sources said on Thursday June 13.Fastmarkets' weekly price assessment for domestic billet in Turkey was $430-440 per tonne ex-works on Thursday, down from the last week's $440-445 per tonne.Long steel mill Kardemir, in...Read More

CIS STEEL BILLET: Lack of demand, low scrap prices pressure billet market

June 14, 2019 / Staff reporter

Sentiment in the Commonwealth of Independent States (CIS) export billet market deteriorated in the second half of this week, following the drop in import scrap prices in Turkey and a lack of interest from the customers' side."Everyone was expecting huge sales after [the observance of the Islamic holy month of] Ramadan, but there have not been any sales over the past 10 days," an international trad...Read More

China's stainless steel prices edge up, but sentiment remains bearish

June 14, 2019 / Staff reporter

Domestic stainless steel prices in China ticked up over the past week on gains in nickel futures, but participants still maintain a bearish outlook toward the market for the next few weeks.The Fastmarkets MB domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 13,900-14,300 yuan ($2,009-2,067) per tonne including value-added tax for the week ended...Read More

China's Shagang cuts long steel prices for mid-June

June 14, 2019 / Staff reporter

Eastern China's Shagang has lowered the list prices for its rebar and wire rod booked and shipped in mid-June. The mill is selling its HRB400 16-25mm rebar at 4,070 yuan ($588) per tonne over the June 11-20 period, down 180 yuan per tonne from its last...Read More

China's finished steel exports tumble in May

June 14, 2019 / Staff reporter

China's finished steel exports fell in May on both a year-on-year basis as well as when compared with the preceding month. The country shipped 5.74 million tonnes of finished steel abroad last month, down 16.5% from a year earlier, according preliminary Chinese customs data released on Monday June 10.Last month's exports are also...Read More

LIVE FUTURES REPORT 13/06: LME copper price stabilizes on news of Chuquicamata mine strike

June 14, 2019 / Staff reporter

Copper's three-month price on the London Metal Exchange consolidated at the close of trading on Thursday June 13, improving from an intraday low of $5,811.50 per tonne and closing marginally higher despite fresh inflows totaling more than 37,000 tonnes.News of strike action at Chilean state-owned copper producer Codelco's Chuqicamata mine helped to improve copper's three-month price over the day,...Read More

China's SRB carries out tungsten research, considers stockpiling - sources

June 14, 2019 / Staff reporter

China's State Reserve Bureau (SRB) has carried out research into major Chinese tungsten miners' products amid depressed spot activity in the domestic market and multiyear low prices, sources told Fastmarkets.After several failed bids in 2015 and 2016, the SRB bought 6,000 tonnes of tungsten concentrate in October 2016 from four major local miners as part of its stockpiling efforts when prices were...Read More

DAILY SCRAP REPORT: Turkish buying rally continues in deep-sea markets

June 14, 2019 / Staff reporter

Turkish steel producers have continued their deep-sea scrap purchases, increasing their combined tonnage for import to 226,000 tonnes in two days, sources said on Thursday June 13.In addition to two deep-sea cargoes booked early on June 12, four steel mills booked five more cargoes late that day.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $2...Read More

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