Canada-based base metals producer Lundin Mining has halted ore processing operations at its Chapada copper-gold mine in Midwestern Brazil after a power outage damaged mill motors, the company said on Sunday September 27. Interruption of power services to the mine occurred on Sunday. When power was restored, the protection system of Chapada's main electrical substation failed, according to the comp...Read More
Deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses all plummeted in the week to Friday September 25, with lead falling the most before China's Golden Week holiday (October 1-8).Lead stocks fell the most in percentage terms, diving by 45.3% or 13,199 tonnes to 15,921 tonnes as of Friday September 25.Warehousing company Zhejiang Tianchuan in Zhejiang had the largest outf...Read More
Prices for domestic and imported merchant bar quality (MBQ) steel in the United States rose by $1.50 per hundredweight ($30 per short ton) in response to a round of price increases by domestic mills.Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US rose by 4.4% to $35.30 per cwt ($706 per ton) on Friday September 25 from $33.80 per cwt pre...Read More
Hot-rolled coil prices in the United States edged up slightly on Monday September 28 on growing concerns about tightening supply and the ability of mills and service centers to meet customers' needs in a timely manner. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.02 per hundredweight ($600.40 per short ton) on September 28, up by 2 cents from $30 per cwt on Fri...Read More
Export prices for steel hot-rolled coil from the Commonwealth of Independent States (CIS) declined over the week to Monday September 28 on a lack of liquidity in the market, sources said.Fastmarkets' weekly price assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $495-510 per tonne on Monday, down from $505-515 per tonne a week ago.All flat steel suppliers from Russia, including S...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were steady in the week to September 28, supported by seasonally good demand from the construction sector, sources told Fastmarkets on Monday.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia held at 40,000-41,000 roubles ($512-524) per tonne on September 28, inclu...Read More
Brazilian iron ore miner Vale has suspended concentration activities at its Viga mine, in the Brazilian southeastern Minas Gerais state, due to a judicial ruling demanding it stops using a related tailings dam, the company said on Monday September 28. This temporary halt will cut 11,000 tonnes per day in iron ore fines output, Vale added. The company will continue with mining activities at Viga, i...Read More
Turkish steel mills skipped the first working day of the week, with no deep-sea bookings completed amid signs of a downward correction in the market, sources said on Monday September 28.There were talks of a cargo from the United States being sold to a steel mill in the Iskenderun region at $293 per tonne cfr for HMS 1&2 (80:20), $298 per tonne for shredded and $303 per tonne for bonus.Althou...Read More
Turkish domestic scrap prices were stable in the week to Monday September 28, with most mills keeping their buy prices unchanged, according to market sources.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 2,040-2,270 lira ($267-297) per tonne on Monday, unchanged week on week.Only two steel mills adjusted their buy prices to...Read More
Cleveland-Cliffs has reached a definitive agreement to buy ArcelorMittal USA and its subsidiaries for around $1.4 billion, which will make it the largest flat-rolled steel producer in the country, the company said on Monday September 28.The deal included the steel making operations of Indiana Harbor, Burns Harbor, Cleveland, Coatesville, Steelton, and Riverdale, as well as finished steel units Col...Read More
Iron ore prices were mostly higher on Monday September 28 due to active buying in the physical market by mills who were restocking ahead of the week-long National Day holidays in China, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.15 per tonne, up $0.94 per tonne 62% Fe low-alumina fines, cfr Qingdao: $116.15 per tonne, up $0.41 per tonne 58% Fe fines high-grade premi...Read More
Seaborne premium hard coking coal prices edged higher on Monday September 28 amid bullish sentiment in the market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.86 per tonne, up $0.05 per tonne Premium hard coking coal, cfr Jingtang: $143.57 per tonne, up $0.08 per tonneHard coking coal, fob DBCT: $112.26 per tonne, up $1.50 per tonneHard coking coal, cfr Jingtang: $121.12 per tonne,...Read More
ArcelorMittal resumed operations at blast furnace (BF) No1 at its Fos-sur-Mer plant in France last week, the company told Fastmarkets on Monday September 28. The steelmaker stopped BF No1 at Fos-sur-Mer as well as the converter and continuous caster on March 23 due to falling demand caused by Covid-19 lockdown measures across Europe. ArcelorMittal Fos-sur-Mer has two BFs...Read More
China imported 7.17 million tonnes of coking coal in August, by 20.9% from 9.06 million tonnes a year earlier, Chinese customs data showed. Last month's imports are also down by 2.7% month on month.Market sources largely attributed the year-on-year drop to China's tighter import restrictions this...Read More
China's hot-rolled coil prices weakened on Monday September 28 despite active buying, with buyers restocking ahead of an eight-day break to mark the country's National Day.DomesticEastern China (Shanghai): 3,820-3,840 yuan ($560-563) yuan per tonne, down 10-20 yuan per tonnePrices fell during the day even though most sources reported that there was more trading activity during the day than any one...Read More
The three-month copper price on the London Metal Exchange was slightly improved during morning trading on Monday September 28, with price action moving 0.4% higher despite a fresh inflow of just over 30,000 tonnes into LME-registered warehouses in Rotterdam, while tin futures led on the upside with 1.6% increase to trade firmly above the $17,000-per-tonne support level. Copper's outright price on...Read More
China's domestic rebar prices gained some upward momentum on Monday September 28 on a strengthening of demand.DomesticEastern China (Shanghai): 3,620-3,650 yuan ($530-535) per tonne, up by 10-20 yuan per tonneBuyers raised procurement rates during the day to stock up on materials for consumption during the Golden Week. The October 1-8 break marks China's National Day.A trader in eastern China said...Read More
Key data from Fastmarkets' pricing session in London on Friday September 25.Key drivers Antimony prices in Europe were supported by concerns about tight ore availability in China and reports of limited raw material stocks at plants, resulting in rising replacement costs for traders in Europe and the United States, especially for trioxide-grade material. Some market participants reported an uptick...Read More
The slowdown of the roll-out of fifth generation technology (5G) is continuing to weigh on the tantalum market with the concentrate price falling to a year-to-date low on Friday September 25. Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China at $56-57.75 per lb on Friday, down from $57-59 per lb a week earlier and down from its year-to-date high of $65-68 per lb in May. T...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it...Read More