Vedanta's Skorpion zinc refinery will shut for four months from November due to a lack of local concentrate feed, the company told Fastmarkets on Thursday October 10. Skorpion is an integrated zinc mining and smelting operation located in Namibia, which produced 90,000 tonnes of refined zinc in 2018. It had been scheduled to produce 130,000 tonnes in 2020. But the smelter will soon not have enough...Read More
Switzerland-based miner-trader Glencore revealed on Thursday October 10 that chief executive officer Ivan Glasenberg holds an 8.3% shareholding in the company in its first disclosure of his stake since 2013.The miner-trader, which is the world's largest for metals, said on Thursday that the company's share buyback scheme had left long-time CEO Glasenberg with 9% of voting rights in the company and...Read More
Switzerland-based miner-trader Glencore revealed on Thursday October 10 that chief executive officer Ivan Glasenberg holds an 8.3% shareholding in the company in its first disclosure of his stake since 2013.The miner-trader, which is the world's largest for metals, said on Thursday that the company's share buyback scheme had left long-time CEO Glasenberg with 9% of voting rights in the company and...Read More
Coal industry billionaire Hans Mende joined the board of Jupiter Mines on Wednesday October 9 as a non-executive director, the Australian Stock Exchange-listed mining company has announced.Mende is co-founder and executive chairman of AMCI Group, a substantial shareholder...Read More
Any hopes the United States might relax its sanctions on Turkish steel exports appear to have been scuppered after Turkey launched an air and ground assault on Kurdish-held northern Syria. On Wednesday October 9, Turkey launched 'Operation Peace Spring' east of the Euphrates River in northern Syria to secure its borders, after the US army retreated from the region. And on Thursday, the head of the...Read More
New customs declaration procedures could be put in place by European Union member states if the United Kingdom ultimately leaves the bloc with no agreement in place (a "no-deal Brexit"), an industry association told Fastmarkets this week.This would cause months of congestion affecting UK-origin scrap cargoes although no long-term disruption was expected for the UK's metals recycling sector, worth...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw China, yuan/tonne. Fastmarkets lith...Read More
China's hot-rolled coil prices were largely unchanged on Thursday October 10 because although demand was robust, some participants were bearish on the price outlook after some buyers started selling imported goods from Russia.DomesticEastern China (Shanghai): 3,590-3,600 yuan ($502-503) per tonne, unchangedNorthern China (Tangshan): 3,540 yuan per tonne, unchangedSpot prices were stable even thoug...Read More
Turkish domestic prices for rebar and wire rod have gone up over the past week, while the country's lira weakens against the US dollar, sources said on Thursday October 10.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY2,790-2,800 ($477-478) per tonne on Thursday, up from the TRY2,730-2,780 per tonne of last week.Steel mills in the Izmir region...Read More
Any hopes the United States might relax its sanctions on Turkish steel exports appear to have been scuppered after Turkey launched an air and ground assault on Kurdish-held northern Syria. On Wednesday October 9, Turkey launched 'Operation Peace Spring' east of the Euphrates River in northern Syria to secure its borders, after the US army retreated from the region. And on Thursday, the head of the...Read More
Prices for steel rebar in Egypt fell in the week to Thursday October 10, while imported steel billet prices increased, sources have told Fastmarkets.Egyptian rebar producers reduced their prices on September 30 and October 9.The reason for these falls was that Egypt's prime minister last week announced a reduction in the cost for natural gas, to $5.50 per BTU from $7.00 per BTU. This will substant...Read More
The Turkish steel mills have fallen quiet in the deep-sea scrap markets following political developments that have raised concerns in the market, sources said on Thursday October 10.The most recent confirmed transaction was done from the United States on October 9. A Turkish steel producer booked a cargo comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at...Read More
Any hopes the United States might relax its sanctions on Turkish steel exports appear to have been scuppered after Turkey launched an air and ground assault on Kurdish-held northern Syria. On Wednesday October 9, Turkey launched 'Operation Peace Spring' east of the Euphrates River in northern Syria to secure its borders, after the US army retreated from the region. And on Thursday, the head of the...Read More
Seaborne iron ore prices rebounded on Thursday October 10 following a big decline a day earlier, thanks to gains in the futures markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.68 per tonne, up by $2.62 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $94.23 per tonne, up by $3.89 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.08 per tonne, up by $2.33 per tonne.58% Fe fi...Read More
The price of steel billet in the Turkish market has remained stable over the past week while the steel mills in the country mostly focused on the markets for finished steel products, sources said on Thursday October 10.Suppliers in the Commonwealth of Independent States (CIS) region continued to offer material to Turkey at $365-370 per tonne cfr, but bids from Turkish customers...Read More
The CIS export billet price continued to strengthen this week with fresh bookings agreed by customers in Africa at prices higher than those of earlier deals, Fastmarkets has heard.Customers in Egypt and Ethiopia booked a total of 25,000 tonnes of Russia-origin billet through a trader at $356 per tonne fob Black Sea. The price from the mill was estimated to be $354-355 per tonne fob Black Sea, whic...Read More
Prices for steel rebar in Egypt fell in the week to Thursday October 10, while imported steel billet prices increased, sources have told Fastmarkets.Egyptian rebar producers reduced their prices on September 30 and October 9.The reason for these falls was that Egypt's prime minister last week announced a reduction in the cost for natural gas, to $5.50 per BTU from $7.00 per BTU. This will substant...Read More
China's domestic stainless steel prices increased slightly this week on a spike in restocking demand following a national holiday in the country on October 1-7.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,800-16,100 yuan ($2,214-2,256) per tonne including value-added tax for the week ended Wedne...Read More
Vale expects Chinese demand for iron ore pellets and pellet feed to rise by 50 million tonnes per year with mills in China increasing the usage of pellets in their blast furnaces.It estimates that pellet consumption could increase its proportion of the total raw material mix in blast furnaces from 11% in 2015 to 19% in 2025, according to a presentation that the Brazilian miner showed to investors...Read More
Demand for flat steel products in Turkey was weak in September 2019 because of global price falls, market participants have told Fastmarkets.And local producers have now filled their order books until late November, they said on Wednesday October 2.Turkish steel prices increased on May 17 after the import duty into the United States, which had been applied at a rate of 50% in September 2018, was c...Read More