Lundin Mining has signed an agreement with Yamana Gold to buy the open-pit copper and gold Chapada mine in the Brazilian Midwest state of Goi??s for up to $1.03 billion, the miners said on Monday April 15.Cash payments will total $800 million, with an additional $125 million in effect over five years depending on gold prices, as well as $100 million more whether the mine chooses to build a pyrite...Read More
Gerdau will lay off 100 workers at its special steel unit in Pindamonhangaba city, in Brazil's southeastern S??o Paulo state, due to the weak performance of the Brazilian automotive industry, according to the company."Gerdau confirms negotiations with the union to conduct a layoff program at its Pindamonhangaba works, starting in April," the Brazilian steelmaker said.Supply to clients wi...Read More
Plate prices in the United States have remained on even ground in what has proven to be the longest period of stability for plate since late 2018.Fastmarkets AMM's price assessment for cut-to-length plate has been unchanged at $46 per hundredweight ($920 per short ton) since March 22, or roughly three-and-a-half weeks.The domestic plate price has not held steady for that long since November-Decemb...Read More
China's hot-rolled coil prices bounced back on Monday April 15, with domestic gains continuing to encourage steelmakers to raise their export offers.DomesticEastern China (Shanghai): 4,000-4,020 yuan ($597-600) per tonne, up 30-40 yuan per tonneNorthern China (Tianjin): 3,930-3,950 yuan per tonne, up 10-20 yuan per tonnePrices in Shanghai rose significantly during the day, with most transactions t...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Once the deal closes, Chevron will be the second-largest producing major in 2019 terms. It was fourth.The acquisition makes the Majors' peer group much more polarised. ExxonMobil, Chevron, Shell and BP are now in a league of their own...Read More
The U.S. Commerce Department has submitted to the White House the results of a national security investigation into uranium imports, a spokesman for the department said on Monday.The "Section 232" probe was prompted by a petition filed by two U.S. uranium mining companies, Ur-Energy Inc and Energy Fuels Inc, complaining that subsidized foreign competitors, including Russia and Kazakhstan, have cau...Read More
Fission Uranium (TSX: FCU) has tabled a prefeasibility study (PFS) for its Patterson Lake South uranium project in Saskatchewan's Athabasca region, outlining an open pit and underground hybrid operation. It's working on a preliminary economic assessment (PEA)-level underground only scenario that it says could offer improved economics.The PFS assigns the project a $693 million after tax net present...Read More
Egypt has imposed a temporary additional duty on imports of rebar and billet, effective from Monday April 15. The duty is 25% for rebar imports, and between 3% and 15% for billet imports. The duty for billet is as follows: If the cost, insurance and freight (cif) price is below $450 per tonne, the safeguard duty will be the maximum 15%. If the cif price is between $450 and below $470 per tonne, th...Read More
Vietnamese buyers of HRC booked at least two cargoes of imports over the past week while waiting for a major mill in the Southeast Asian country to issue its offers for materials shipped and delivered in June.Market sources widely expect Formosa Ha Tinh Steel Corp to raise its offers due to recent price increases for iron ore.Of the two transactions, one consisted of a 10,000-20,000-tonne cargo fr...Read More
SASKATCHEWAN - Fission Uranium has tabled a prefeasibility study (PFS) for its Patterson Lake South uranium project in Saskatchewan's Athabasca region, outlining an open pit and underground hybrid operation. It's working on a preliminary economic assessment (PEA) level underground only scenario that it says could offer improved economics.The PFS assigns the project a $693 million after tax net pr...Read More
Buyers in Singapore's spot rebar market are finding Turkish materials the most economical at the moment, sources told Fastmarkets MB.A major steel producer in Turkey sold a 50,000-tonne cargo, which consisted of 35,000 tonnes of rebar and 15,000 tonnes of coiled debar - to Singapore last week. Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes of t...Read More
China's rebar prices rebounded on Monday April 15 after market participants' outlook for demand in the next few months improved following the release of the latest data from the property sector. Domestic Eastern China (Shanghai): 4,060-4,110 yuan ($606-613) per tonne, up 40 yuan per tonneNorthern China (Beijing): 4,000-4,030 yuan per tonne, up 30-40 yuan per tonneThe housing market in first-tier C...Read More
Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
There were six key points for delegates of the minor metals community to take away from a busy week of meetings in Edinburgh, Scotland, for the Minor Metals Trade Association (MMTA) Conference on April 9-11.1. Sentiment in minor metals remains gloomy...While global uncertainty and oversupply continued to weigh on minor metals price sentiment in 2019, with prices for some materials at multi-year lo...Read More
RAPAPORT... Production at Petra Diamonds fell in the third fiscalquarter due to operational challenges at its Finsch mine in South Africa, it said Monday. Output for the three months ending March 31 dropped 7% to924,228 carats. Production at Finsch plunged 30% to 387,370 carats, 55,000carats below the miner's expectation. The majority of the shortfall was due toequipment problems at the depos...Read More
RAPAPORT... Titan Company noted strong growth in the most recent fiscal year, as itlaunched new digital initiatives and collections that were popular with customers. Group sales rose about 21% for the 12 months ending March 31, the Indian retailer said in a trading update published earlier this month, while revenue for the jewelry division increased 22%. Thecompany reported high demand for it...Read More
Turkish steel mills had a quiet start to the week in the deep-sea scrap markets, but market participants are expecting more bookings for May deliveries, sources said on Monday April 15.There were no new deep-sea transactions done on Monday, but mills continued to negotiate on May cargoes for lower prices, Fastmarkets heard. Some traders reported that mills were bidding for US-origin HMS 1&2 (80:20...Read More
RAPAPORT... Output at Lucapa Diamond Company's Lulo mine in Angola fellin the first quarter, as it focused on processing ore from lower-grade miningareas. Production declined 25% to 3,369 carats, compared with 4,507carats the previous year, the miner said last week. Sales volume for the periodplummeted 93% to 451 carats. However, sales value rose 12% to $12.1 million, as thecompany sold seven...Read More
Turkish domestic auto bundle scrap prices have increased over the past week, while domestic ship scrap prices moved downwards on a weak lira, sources said on Monday April 15.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,730-1,870 ($300-325) per tonne delivered on Monday, compared with TRY1,695-1,870 per tonne last week. The slight change in the...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.China's influence on global commodity markets is unparalled. It's a matter of scale.China imports more than 60% of domestic demand for oil, gas and iron ore. Its imports of oil, LNG and coal account for around a fifth of glo...Read More