A summary of the second-quarter iron ore production results for 2021 from British multinational mining company Anglo American, reported in its latest production report released on Tuesday July 20.In briefIron ore production increased by 6%, driven primarily by a 14% increase at Kumba, and partly offset by a 5% decrease at Minas Rio.Total production at Kumba increased, reflecting the effect of Covi...Read More
Major steelmaker Shagang raised its purchase price for domestic scrap in the week to July 20 after keeping its prices stable for one month, sources told Fastmarkets. Mills in other regions followed suit.Shagang increased its domestic scrap purchase price by 80 yuan to 3,850 yuan ($593.3) per tonne delivered mill on Saturday July 17, including a 9.2% value-added tax (VAT)."The supply of domestic sc...Read More
A summary of Brazilian miner Vale's iron ore results for the second quarter of 2021, as stated in its latest production and sales report published on Monday July 19.In brief Vale's iron ore fines production totaled 75.7 million tonnes in the second quarter of 2021, up by 12% from a year earlier and by 11.3% from the first quarter of 2021. Vale said second-quarter fines production increased for the...Read More
A summary of BHP's operational review for iron ore for the year ended June 30, 2021, as released on Tuesday July 20.In brief BHP delivered full-year production of iron ore in line with its guidance for the year to June 30, which was 245-255 million tonnes. BHP achieved record production at Western Australia Iron Ore (WAIO), reflecting record production at Jimblebar and Mining Area C, which include...Read More
China's domestic rebar price dropped on Tuesday July 20 due to weak demand caused by adverse weather in large parts of the country, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,220-5,240 yuan ($804-807) per tonne, down by 10-20 yuan per tonneThere was heavy rain in central China's Henan province and southern China's Guangdong province on July 20, and large...Read More
Base metals prices on the LME were up across the board this morning, Tuesday July 20, while the SHFE followed Monday's weakness, which was triggered by growing fears over the potential impact of the Delta variant of Covid-19 on the global economic recovery.Gold, the yen and the dollar were stronger and the United States 10-year treasury yield weaker - all signs of a pick-up in haven demandThe spre...Read More
The Cobalt standard 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 applies.Fastmarkets assessed Cobalt standard grade, in-whs...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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 applies.Fastmarkets assessed Cobalt...Read More
Chinese antimony market participants report reduced offers, higher prices and increasing difficulty in securing material, sources told Fastmarkets.Fastmarkets' weekly price assessment for antimony MMTA standard grade II, ddp China was 59,000-60,000 yuan ($9,093-9,248) per tonne onJuly 16, up by 1,500-2,000 yuan per tonne (3.0%) from 57,500-58,000 yuan pertonne the previous week.A shortage of ores...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 point in pre-opening trade. Chipotle advanced $68.86 to $1,641.21 after reporting higher than consensus second quarter revenues and earnings. Netflix added $2.15 to $533.20 after the company announced plans to enter the gaming industry.Canadian National Railway slipped $0.40 to US$101.90 after reporting slightly less...Read More
Here are five Fastmarkets stories you might have missed on Monday July 19 that are worth another look.European steel association Eurofer is demanding stronger carbon emissions measures to guarantee a balanced approach that will enable a decarbonization of the region's steel industry, it said on Thursday July 15.Read More
A combination of concerns over the spread of the delta variant of Covid-19, a sturdy dollar index and falling US equities triggered a sell-off in London Metal Exchange prices during the afternoon's trade on Monday July 19.Nickel's three-month price showed the biggest drop of the day, down by 3.2% at the close to $18,462 per tonne, from Friday's $19,070 per tonne price at the same time."Nickel pric...Read More
Alumina prices on an fob Australia basis were at a four-month high on Monday July 19 due to an increase in liquidity, with cargoes changing hands at higher prices.Fastmarkets assessed its daily alumina index, fob Australia, at $289.36 per tonne on Monday, the highest since March 19.Demand for cargoes has increased over the past week. But the rise in prices also related to concern in the market abo...Read More
Here are five Fastmarkets stories you might have missed on Monday July 19 that are worth another look.European steel association Eurofer is demanding stronger carbon emissions measures to guarantee a balanced approach that will enable a decarbonization of the region's steel industry, it said on Thursday July 15.Read More
The latest data for the global manganese ore market for the week ended July 19, 2021.Read More
Alumina prices on an fob Australia basis were at a four-month high on Monday July 19 due to an increase in liquidity, with cargoes changing hands at higher prices.Fastmarkets assessed its daily alumina index, fob Australia, at $289.36 per tonne on Monday, the highest since March 19.Demand for cargoes has increased over the past week. But the rise in prices also related to concern in the market abo...Read More
New power cuts in China's Inner Mongolia region boosted spot silico-manganese prices to a two-year high in the week ended Friday July 16, but sentiment in the low-grade manganese ore market went down on concerns that reduced manganese alloy production could hurt ore demand in the near term, despite the continuing civil unrest in South Africa.On July 14, Inner Mongolia's power network dispatch cent...Read More
Here are five Fastmarkets stories you might have missed on Monday July 19 that are worth another look.European steel association Eurofer is demanding stronger carbon emissions measures to guarantee a balanced approach that will enable a decarbonization of the region's steel industry, it said on Thursday July 15.Read More
Ports' operations in South Africa's KwaZulu-Natal have slightly improved, while cobalt hydroxide market participants wait for a clearer direction, sources told Fastmarkets.Ports and terminal operations in Durban and Richard Bay in KwaZula-Natal, South Africa have slowly begun to normalize while the country has prioritized recovery after recent civil unrest. Most participants held watchful attitude...Read More
German steelmakers settled their monthly steel scrap contracts for July at higher prices due to continuous tight availability in the market, sources told Fastmarkets.Prices for new scrap grades, such as E8, have risen higher compared with other grades due to short supply from both automotive producers and flat steel service centres. Stoppages and reduced production rates in the automotive sector r...Read More