A summary of Canadian base metals miner Hudbay Minerals' results for the fourth quarter and full year of 2020. Summary:  The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for 2020 decreased by 14.4% to $306.7 million from 2019's full year figure of $358.5 million. This was despite adjusted Ebitda in the fourth quarter growing by 30% year on y...Read More

Inventories of base metals, with the exception of tin, increased in Shanghai Futures Exchange-registered warehouses in the week to Friday February 19, with zinc leading the way, according to the latest stocks report.On the second trading day for the exchange after the Chinese New Year break, zinc inventories stood at 101,919 tonnes, an increase of 32,553 tonnes, or 46.9%, from 69,366 tonnes on Feb...Read More

Aluminium producer Rusal will be the preferred global supplier of primary foundry alloys (PFA) for Kosei, a global wheel and auto components manufacturer, Rusal said on Friday February 19. Kosei designs and manufactures wheels, autoparts and components. It has 14 sites operating in seven countries. Rusal had previously provided primary foundry aluminium alloys to Kosei factories in India, Japan, T...Read More

Brazilian slab export prices were stable for the fifth consecutive week amid continuing low availability.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil remained at $760-780 per tonne fob on Friday February 19.Since mid-January, sellers have been more cautious about their...Read More

Hot-rolled coil prices in the Unites States rose again to an all-time high as buyers struggled to find spot material, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $60.61 per hundredweight ($1,212.20 per short ton) on Friday February 19, an increase of 0.56% from $60.27 per cwt the previous day and up 3.31% from $58.67 per cwt one we...Read More

The domestic hot-rolled coil price in Northern Europe was fairly stable day on day on Friday February 19, supported by reduced availability of material. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?723.75 ($873.28) per tonne on Friday, down by ?,?1.25 per tonne from ?,?725 per tonne on February 18. The index was, however, up by ?,?3.75 per...Read More

Hot-dipped galvanized (HDG) coil producers in Turkey increased their prices during the week to Friday February 19 on strong demand, sources told Fastmarkets.The main reason for the increasing prices was that high level of demand, but there were also rising prices for hot-rolled coil base material.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey, was $750-770 per...Read More

Turkey sold at least two cargoes of hot-rolled coil (HRC) to the United States over the week to Friday February 19, and market sources expect prices to keep increasing on strong demand in all markets, sources said.Turkey's exports to the US have been very limited since August 2018, when Section 232 tariffs rose to 50% for Turkish steel.The duty was reduced back down to 25% in May 2019, but Tukey's...Read More

Prices for secondary steel billet in India surged by 3,600 rupees ($49) per tonne in the week to Friday February 19 on increased demand across the country and the likely continuation of power shortages in central India's major hubs for secondary steelmaking.Fastmarkets' price assessment for steel billet, domestic, ex-works India, was up on Friday to 37,400-37,600 rupees ($514-517) per tonne compar...Read More

Crude steel output in Germany moved up by 6.0% year-on-year in January 2021, marking the fourth consecutive month of growth, German steel federation WV Stahl said on Friday February 19.In the first month of 2021, German crude steel production totaled 3.31 million tonnes, up from 3.12 million tonnes in the corresponding period of 2020."This means that production has reached the average level of 201...Read More

Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chili Cyprium sees the Nifty operation in Western Australia getting the show on the road next year, with 20,000tpa for 20 years the target.Read More

The pig iron import market in the United States improved during the week to Friday February 19 on a bullish attitude among suppliers.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $510-520 per tonne on Friday, widening upward from $510 per tonne a week earlier.One large pig iron buyer purchased a cargo for April shipment from...Read More

The Turkish deep-sea scrap market fell silent again at the end of the week following the latest upturn in prices, market participants told Fastmarkets on Friday February 19.The only deep-sea cargo heard over the past week came to light on Thursday February 18. The late-Wednesday deal, in which a steel mill in the Marmara region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $418...Read More

Prices for shredded steel scrap imported into India and Pakistan continued to move upward in the week to Friday February 19 on tight supply and challenging shipping conditions, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $430.86 per tonne on Friday, up from $415.11 per tonne one week earlier.Two deals were heard this wee...Read More

The price for UK light iron scrap moved up for the first time in five weeks on Friday February 19, linked to tight supplies and an improving international market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?140-150 ($195-209) per tonne on Friday, up from ?120-135 per tonne on February 12.Prices we...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.There are potential headwinds – namely the rising US treasury yields and talk that US taxes may have to rise to help pay for the pandemic respo...Read More

The export market for pig iron from the Commonwealth of Independent States increased during the week to Thursday February 18 on sales to Italy. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $500-515 per tonne on Thursday, rising $5 from $495-510 per tonne a week before. "It seems the market in the Mediterranean region [including Ita...Read More

Iron ore prices drifted down on Friday February 19, on weakening demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.55 per tonne, down $1.50 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.00 per tonne, down $1.50 per tonne58% Fe fines high-grade premium, cfr Qingdao: $159.21 per tonne, down $1.01 per tonne65% Fe Brazil-origi...Read More

New structures to lithium contracts will provide more flexibility to raise prices in response to improving market conditions, United States-based lithium producer Albemarle said during an earnings call on Thursday February 18.The call followed the release of the company's full-year and fourth-quarter financial results for 2020.Eric Norris, the company's president of lithium operations, said that n...Read More

NextEra Energy (NEE), an S&P 100 stock moved below $79.61 completing a double top pattern.Pre-opening Comments for Friday February 19thU.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US79.28 cents following release following release of Canada's December Retail Sales report at 8:30 AM...Read More