Prices for light iron scrap in the United Kingdom were lower this week, dropping by ?5 ($6.40) per tonne from a week earlier, sources told Fastmarkets on Friday November 23.The move follows a drop in European export prices to major destination Turkey, while demand from the Indian sub-continent, another key importer from Europe, has been slow. UK sources expect another fall of ?5 per tonne in the...Read More
Brazilian pig iron suppliers continued to insist on higher export offer prices this week on lower material availability during the rainy season and lower availability due to suppliers having closed order books for the year. Fastmarkets increased its weekly price assessment for pig iron exports from the south-eastern Minas Gerais region to $355 per tonne fob on Friday November 23, from $346-34...Read More
The Turkish steel mills continued to book deep-sea scrap for December deliveries at the end of the week, following an earlier downturn in prices, sources said on Friday November 23.A steel mill in the Marmara region booked a US cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $329 per tonne, 23,000 tonnes of shredded at $334 per tonne and as much as 5,000 tonnes...Read More
Seaborne iron ore prices continued to drop toward the $70-per-tonne-cfr mark on Friday November 23 amid plunges in the futures and steel markets.MB 62% Fe Iron Ore Index: $70.13 per tonne cfr Qingdao, down $2.05 per tonne.MB 62% Fe Pilbara Blend Fines Index: $69.32 per tonne cfr Qingdao, down $2.05 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $73.07 per tonne cfr Qingdao, down $2.75 per tonne.M...Read More
Buyers and sellers in the seaborne coking coal market stayed on the sidelines on Friday November 23 amid declining prices for steel and coke in China coupled with a lack of clarity on the country's import restrictions. "It is becoming increasingly clear that the customs clearance ban [on coal imports] will be in place until at least January. Chinese buyers are hoping they can at least discharge th...Read More
China's hot-rolled coil market resumed its downward trend on Friday November 23 with participants still having a pessimistic outlook.DomesticEastern China (Shanghai): 3,730-3,750 yuan ($538-541) per tonne, down 30-40 yuan per tonneNorthern China (Tianjin): 3,660-3,680 yuan per tonne, down 20 yuan per tonneUnlike most Fridays when downstream buyers would typically restock in case of having to work...Read More
China's rebar prices declined significantly in both the domestic and export markets on Friday November 23 amid plunging futures.Domestic Eastern China (Shanghai): 3,920-3,950 yuan ($565-570) per tonne, down 70 yuan per tonneNorthern China (Beijing): 3,780-3,800 yuan per tonne, down 40-50 yuan per tonneThe sharp drop in the paper market during the day intensified the bearish sentiment in the spot m...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday November 23:Cobalt MB free market high grade, $/lb: $32.90-33.50 per lb from $33.25-34.00Cobalt MB free market low grade, $/lb: $33.00-33.50 per lb from $33.25-33.95Cobalt MB China domestic, yuan/tonne: 400,000-420,000 yuan per...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The three-month lead price on the London Metal Exchange was slightly firmer this morning, Friday November 23, while the rest of the complex was down by an average of 0.6%. Zinc led the decline with a 1.2% fall, while copper was off by 0.8% at $6,217 per tonne.Volume has been high with 11,796 lots traded as at 7.24am London time - the bulk of which has been in nickel, where 6,902 lots have traded....Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday November 23:Aluminium scrapFloated Frag: ?,?1,020-1,070 per tonne from ?,?1,000-1,050Cast: ?,?940-990 per tonne from ?,?920-970Mixed...Read More
Asia ferrous scrap prices are still falling, tracking weak downstream prices in the rebar and billet markets.The price of Taiwan's containerized import scrap has slipped below $300 per tonne cfr, while trading for heavy melting scrap (HMS) 1&2 (80:20) scrap in Vietnam was extremely illiquid due to cheaper material from Hong Kong and Japan being offered to Vietnamese steel mills.VietnamFastmarkets...Read More
LONDON - Britain's Banks Mining has won a high court challenge to the government's decision to reject its application to develop a new coal mine in northeastern England, the company said on Friday.Northumberland County Council agreed last year that the mine's developer, Banks Mining, a division of The Banks Group, could extract 3 million tonnes of coal by cutting an open cast, or surface, mine nea...Read More
Barrick Gold's incoming chief executive said he wants to pull together Tanzania's mining industry to tackle a "desperate" tax dispute that has snared several companies, including the firm's Acacia Mining unit.In an increasingly acrimonious conflict that has lasted almost two years, the government has torn up mining contracts, hiked taxes and royalties, and banned raw minerals exports. Randgold fou...Read More
Bluejay Mining (AIM: JAY) announced this week that, after three-year fieldwork studies, the Environmental Impact Assessment for its Dundas ilmenite project in Greenland is now completed and the operation is about to enter the final stages of permitting.In a press release, the London-based company said it is now working on the collection and collation of data for its Social Impact Assessment, which...Read More
BTU Metals (TSXV: BTU) has expanded its Dixie Halo gold project in Red Lake, Ontario, by acquiring Burgudy Exploration and its 41.6 sq. km of prospective land in the area. Dixie Halo surrounds Great Bear Resource's (TSXV: GBR; US-OTC: GTBDF) Dixie gold project and raises BTU's total Red Lake land position to 129 sq. km.BTU will acquire Burgundy for 3.6 million sharesThe company will call its new c...Read More
Camino Minerals (TSXV: COR) announced this week that it is in the process of completing an extensive surface exploration program on the 20,000-hectare Chapitos copper-gold project in southern Peru.Chapitos is located in the Arequipa province, near the Chala mining hub. This is the Peruvian Iron Oxide Copper Gold belt, which also hosts Minsur's Mina Justa, an open-pit deposit whose output is of 90,...Read More
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As of 7 am Friday morning, Black Friday online sales had already surpassed the $645 million mark as millions of Americans had yet to regain consciousness after falling asleep Thursday night in a turkey-and-stuffing induced haze.Read full newsRead More