Mineral sequestration could be used to develop the world's first-ever carbon-neutral nickel mine, according to the president of Giga Metals Corp, which is developing the Turnagain project in British Columbia, Canada.Martin Vydra said that its Turnagain project is on a path to achieving carbon neutrality without having to purchase carbon credits, according to test results conducted on mineralized m...Read More
Brazil-headquartered Minera????o Vale Verde (MVV) completed construction of the Serrote copper-gold project in the northeastern Alagoas state ahead of schedule and expects its first concentrate shipment to be made in November, its parent company Appian Capital Advisory said on Tuesday June 1.The mining company will ramp up production during the second half of the year aiming to ship high-grade cop...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...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 Rotterdam, $/lb at 20.00-20.50...Read More
Trafigura has purchased a sizeable amount of rival merchant Cliveden's copper trading book, increasing what was already said to be the world's biggest copper trading book by volume.The relevant parties have been in discussions for weeks on a deal, which was tabled after Zug-based Cliveden contacted trading houses for assistance in financing copper concentrate cargoes, multiple sources confirmed.So...Read More
Fastmarkets invites feedback on its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 1, 2021, seeks to ensure that our methodology continues to reflect the physical market under the price as...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum.* Brent crude oil is back above $70 per barrel, the highest it has been for two years. * Tuesday’s manufacturing purchasing managers’ index (PMI) d...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Zoom Video advanced $6.68 to $334.00 after reporting higher than consensus first quarter revenues and earnings. Deutsche Bank raised its target price from $360 to $375. IMAX dropped $0.34 to $21.93 after Goldman Sachs downgraded the stock to SellFedEx added $1.26 to $312.11 after JP Morga...Read More
Union workers at BHP's Spence mine in northern Chile have overwhelmingly rejected the latest wage proposal from the company, according to a post on the Spence union's website on Saturday May 29.Some 1,091 workers out a total of 1,126 voted against the latest wage offer from BHP, union management at Spence...Read More
Seaborne low- and high-grade manganese ore prices held steady in the week to Friday May 28, with participants in the market awaiting for miners to make offers for July-shipment in the following week. Fastmarkets' manganese ore index 37% Mn, cif Tianjin was unchanged week on week at $4.50 per dry metric tonne unit (dmtu) on May 28.No liquidity was reported to Fastmarkets, while there was concern am...Read More
China's nickel pig iron (NPI) prices widened downward last week amid a sliding stainless steel market, while the cif China discount for ferro-nickel decreased in the past month.Fastmarkets assessed the nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,125-1,150 yuan ($177-181) per nickel unit on Friday May 28, widening downward by 10 yuan (0.4%) per nickel unit from 1,135-1,150...Read More
The latest data for the global manganese ore market for the week ended May 31, 2021.Read More
China's domestic rebar prices rose sharply on Monday May 31 following strong gains in the billet market over the weekend, but demand decreased in response to the increases.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($785-790) per tonne, up by 170 yuan per tonne A $6-trillion budget for the United States' fiscal year 2022 unveiled by President Joe Biden last Friday led to bullish sentiment...Read More
Import prices for rebar in Singapore continued to fall in the week to Monday May 31 amid sustained bearishness in the Asian market, sources said.Buyers continued to abstain from purchases, and instead watching out for when offers stop falling in the region before they commit to any cargoes, a buyer source in Singapore told Fastmarkets.Most major buyers also have a lot of inventory, which makes it...Read More
Seaborne iron ore concentrate and pellet prices plunged further in the week ended Friday May 28 amid downward pressure from the bigger fines segment of the market.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $61.00 per tonne, down $0.10 per tonne66% Fe concentrate, cfr Qingdao: $213.91 per tonne, down $30.21 per tonne65% Fe blast furnace pellet, cfr Qingdao: $279.82 per...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
China's domestic rebar prices rose sharply on Monday May 31 following strong gains in the billet market over the weekend, but demand decreased in response to the increases.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($785-790) per tonne, up by 170 yuan per tonne A $6-trillion budget for the United States' fiscal year 2022 unveiled by President Joe Biden last Friday led to bullish sentiment...Read More
Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into reducing carbon emissions.In a Dutch court, Shell was ordered to reduce carbon dioxide emissions by 45% from 2019 levels, and to do so by 2030 - doubling its current pace.Activist shareholders Engine No1 will hold two seats on...Read More
China's relentless "suggestions" to industry that it wants to see stable commodity prices appear to have suppressed speculative behavior and are beginning to cool bullish market conditions, sources told Fastmarkets on Thursday May 27.Rising commodity prices were highlighted for the third time in 14 days, on Wednesday May 26, during the the weekly executive meeting of China's State Council, le...Read More
Seaborne low- and high-grade manganese ore prices held steady in the week to Friday May 28, with participants in the market awaiting for miners to make offers for July-shipment in the following week. Fastmarkets' manganese ore index 37% Mn, cif Tianjin was unchanged week on week at $4.50 per dry metric tonne unit (dmtu) on May 28.No liquidity was reported to Fastmarkets, while there was concern am...Read More