Seaborne coking coal prices remain underpinned amid concerns about supply in the domestic Chinese market, participants said.An accident at a coal mine in Shandong province in northeast China recently is expected to increase safety checks at mines, participants said."While the inspections are likely to affect mines producing semi-hard or similar quality materials, however, the sentiment is that suc...Read More
China's ferrous futures were mixed during morning trading on Tuesday October 23, with steel contracts ending the session slightly lower than their opening prices while those for coke and coking coal ended higher.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,150 yuan ($598) per tonne, down 11 yuan per tonneJanuary hot rolled coil: 3,877 yuan per tonne, down 18...Read More
Global ferrous scrap availability will hit the billion-tonne mark by 2030, largely driven by China, according to World Steel Association (Worldsteel) director general Edwin Basson.This will be an increase of about 33% from the 750 million tonnes available globally this year, of which 630 million tonnes have been forecast to be recycled by the global steel and foundry casting industries, he told Fa...Read More
Base metals prices on the London Metal Exchange were broadly lower during morning trading on Tuesday October 23, hampered by broad risk-aversion amid a two-year low in European stock indexes while a firm US dollar index continues to limit price rallies. Topping losses over the morning, the three-month copper price edged back below $6,200 per tonne despite a continued trend of stock outflows and fr...Read More
China's hot-rolled coil prices fell on Tuesday October 23 amid sparse trading, dragged down by weak demand, sources told Fastmarkets MB.DomesticEastern China (Shanghai): 4,190-4,210 yuan ($604-607) per tonne, down 10-20 yuan per tonneNorthern China (Tianjin): 4,090-4,100 yuan per tonne, down 10 yuan per tonneTrading activity fell in comparison with that on Monday, sources said.The drop r...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday October 23 *Copper -$114.62 (-797.36 yuan)Aluminium -$437.03 (-3,040.10 yuan) Zinc -$78.91 (-548.90 yuan) Nickel $452.47 (3,147.49 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets MB.Unless otherwise stated, all prices are per lb on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price quotation, click here.To see all Fastmarkets' pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodolo...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker on the morning of Tuesday October 23, with losses averaging 0.4% - the exception being tin where prices were up by 0.1%.Zinc led the rest of the complex downward with a fall of 1.2% to $2,625 per tonne, while copper was down by 0.7% at $6,183 per tonne.The precious metals were split this morning with gold and...Read More
China-owned conglomerate CITIC and subsidiaries Sino Iron and Korean Steel have launched legal proceedings in the Australian Federal Court against mining tycoon turned politician, Clive Palmer, and his private company, Mineralogy.The Chinese firms have vowed to vigorously defend against an action launched by Palmer's private company over environmental rehabilitation funds for the massive Sino Iron...Read More
Kenya has won a case against Cortec Mining Kenya Limited, Cortec (pty) Limited and Stirling Capital Limited over the revocation in 2013 of a licence for mining niobium and rare earth minerals, a court ruling made public on Tuesday showed.The decision could add to wariness about Kenya's nascent mining industry among investors already spooked by resource nationalism in neighbouring Tanzania, analyst...Read More
Anglo American Plc will dig more platinum than expected this year, while diamond production from its De Beers business will be at the top end of its guidance range.The century-old mining company released its production results for the third-quarter Tuesday. While there were no major surprises, there was also no new information on its suspended Minas Rio iron ore mine in Brazil that's scheduled to...Read More
"The 2018 annual #WorldRiskReport is now live. It is a comprehensive review of #mining risk, including a jurisdiction-by-jurisdiction ratings system and assessment of business and operating risks and trends. Read it now: https://t.co/sl1MJhZ2bg ($) @M1NEHUTTE @MaplecroftRisk"Read full newsRead More
"@RobieMonsieur @HedgehogTrader This was just a speculative comment - nothing more. There are tons of supply/demand models out there - most of them are biased. Big problem with most of the analysis: Nobody knows about the real amount of U inventories, non-transparent and tough market to analyze. Good luck"Read full newsRead More
Having rebounded modestly back off a $65 handle intraday after OPEC/Saudi production comments, all eyes are now on API tonight which printed a huge 9.88mm barrel inventory build (biggest since Feb 2017) sending WTI back to a $65 handle.Read full newsRead More
The world's top diamond producer by value attributed the decline to planned volume reductions in Botswana and South Africa.Read full newsRead More
"@RobieMonsieur @HedgehogTrader Imho there's no need to bring lots of new supply online. Nexgen's Arrow and OD expansion might be enough next decade. As well Kazakhstan won't give up their market dominance."Read full newsRead More
The US miner has agreed to a deal that would give it up to 80% in Solaris' Ricardo property.Read full newsRead More
"@HedgehogTrader I wouldn't bet on that. BHP might flood this market next decade with Olympic Dam expansion. They don't care about the U price"Read full newsRead More
Brussels responded to Italy's budget proposal and implemented theRead full newsRead More
"Germany's BASF and Russian miner Norilsk Nickel (Nornickel) have struck a nickel and cobalt supply deal to support rapidly growing demand for #EV battery raw materials."Read full newsRead More