Eastern promise for PolarXSPONSOREDpolarxThe planned Black Butte underground operation is at the permitting stage with the challenge for developers at the project (and in the region) revolving around environmental queries.Read More
Turkish steel producers have gone through Thursday without making any deep-sea scrap purchases, because the political situation in the country has changed and the value of the country's lira has become more volatile, sources said on Thursday April 18.Turkey's supreme committee of elections (YSK) has declared opposition candidate Ekrem Imamoglu the winner of the recent mayoral election in Istanbul,...Read More
The price of shredded ferrous scrap imported into India moved up this week with deals done at higher levels than last week, sources told Fastmarkets on Thursday April 18.Fastmarkets' weekly index for containerized imports of shredded scrap into India inched up to $332.25 per tonne cfr Nhava Sheva on Thursday, from $331.32 per tonne cfr one week before.This week, deals were heard for shredded scrap...Read More
Global Atomic's 'transformational discovery' changes everythingSPONSOREDglobal atomic corpAlkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesWestern Atlas drill-ready in NunavutSPONSOREDwestern atlas resourcesHow to monitor and manage your Tailings Storage FacilitySPONSOREDisometrixGlencore's Jeff Gerard will take on the top job on May 2, replacing Dan...Read More
Prices for light iron steel scrap in the United Kingdom were unchanged for a fifth week on Thursday April 18 following a recovery in Turkish scrap prices, sources told Fastmarkets on the day.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($117-143) per tonne on April 18. The price has remained unchanged since March 15.The steady 5C price...Read More
Niron Metals PLC, an investment vehicle with shareholders including former Xstrata chief executive officer (CEO) Mick Davis, has been given the go-ahead to export iron ore from the Zogota deposit in Guinea through Liberia using existing infrastructure. The company signed a Memorandum of Understanding with the Liberian government allowing it to use rail and port facilities to export the material fr...Read More
Brazilian steelmaker Usiminas exported 19.90% less iron ore during the first quarter of 2019 than in the corresponding months of 2018, with the company shifting production to third-parties in the domestic market, it said in an earnings report on Thursday April 18.External shipments of iron ore totaled 868,000 tonnes in January-March, from 1.08 million tonnes a year before. But domestic sales reach...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Investors are waiting for release of the redacted version of the Mueller report at 9:30 AM EDT.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 205,000 from 196,000 last week. Actual was 192,00...Read More
Participants took a breather from the seaborne coking coal spot market on Thursday April 18 following a flurry of trades earlier this week."We are not in a hurry to offer at the moment, especially since the loading dates for our shipments have been pushed back to May," a Chinese trading source said.Meanwhile, at the Port of Jingtang in China's steelmaking hub of Tangshan, a brand of premium low-vo...Read More
Alcoa's revenue for the first quarter of 2019 was $2.7 billion, down 19% from the fourth quarter of 2018, due to lower alumina and aluminium prices.The producers adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) excluding special items for the first quarter between January and March 2019 stood at $467 million, a 39% decrease from the previous quarter. "We improved ou...Read More
The Chinese domestic indium price dropped by 4% week on week on Wednesday April 17 in response to news that the Fanya Metal Exchange will again auction 34.64 tonnes of the indium stock it holds in its warehouse, after the first auction in January failed to attract any bidders. The stock will be auctioned via Alibaba judicial online platform at 10am Beijing time on April 24 and 10am Beijing time on...Read More
Base metals price on the London Metal Exchange were all trading down on Thursday April 18 after the previous day's boost from positive Chinese industrial production and retail data was replaced by bearish sentiment on weak European data, in particular German PMI figures. Base metals prices spiked on Wednesday when positive Chinese data sparked a spate of bullish consumption, but analysts consider...Read More
South32 has reported record year-to-date manganese ore output in the current 'favorable' market and has increased its 2019 annual production guidance by 4% in both Australia and South Africa.The miner reported 4.25 million tonnes of total manganese production for the nine months of the 2019 financial year beginning in June 2018, up 1% year on year. For the January-March third quarter, product...Read More
Key data from the Wednesday April 17 pricing session in Shanghai. Key driversChina's cobalt market was broadly stable on Wednesday following marginal upticks in international cobalt metal prices at the end of last week, which caused buyers to adopt a wait-and-see stance and thus stifled trading activity. Fastmarkets MB assessed the standard-grade cobalt price at $15.35-16.75 per lb on April 12, na...Read More
Cobalt prices continued their recovery on Wednesday April 17, although gains were more muted than in recent weeks as buyers assessed their restocking needs after recent price increases. Fastmarkets assessed standard-grade cobalt prices at $15.60-16.75 per lb, in-warehouse, on April 17, up from $15.35-16.75 per lb previously. Alloy-grade prices rose to $16.85-17.65 per lb, up 20 cents on...Read More
Jeff Gerard has been appointed chief executive officer of Katanga Mining, effective May 2, following the resignation of Danny Callow.As well as being CEO of Katanga Mining, Gerard will be head of Glencore's assets in the...Read More
Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanist??l, Denmark's second largest steel distributor, it said on Thursday April 17.The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanist??l's automated steel distribution center in Taulov, Denmark, four sales offices in...Read More
Import prices for stainless cold-rolled coil in East Asia were mostly steady over the past week due to soft demand and a stable nickel market, while those for stainless hot-rolled coil fell due to excess spot supply.Stainless CRCFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia was $2,030-2,100 per tonne cif on Wednesday April 17, unchanged fr...Read More
China's stainless steel prices dropped over the past week on sustained weakness in demand and rising inventory levels in the spot market.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,100-14,500 yuan ($2,106-2,166) per tonne including value-added tax for the week ended Wednesday April 17, down 300 yuan per tonne from a wee...Read More
The global coal markets have been on a tear lately. And America's miners are still tanking.Blame natural gas. St. Louis, Missouri-based miner Foresight Energy LP is having its worst month in three years as cheap gas continues to push the fuel out of the U.S. power mix. Alliance Resource Partners LP and Consol Energy Inc. are similarly down 10 percent since mid-March.All three miners depend heavily...Read More