As the world gears up for the Fourth Industrial Revolution, African mines are embracing real-time information management systems to plug the gap left by the shortage of competent maintenance supervisors and mining equipment operators, Mining Equipment Manufacturers of South Africa CEO Ossie Carstens tells Mining Weekly. “The explosive growth seen in mechanised mining in the past 30 years or...Read More
European alloy steel scrap prices were largely unchanged in a week when the effects of low demand were countered by a slight increase in the price of nickel, sources told Fastmarkets on Friday June 21.Austenitic scrap prices primarily track nickel costs, with supply and demand acting as secondary price drivers. But demand has been so poor in recent weeks that it has started to exert a greater infl...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsIn its judgement, the Constitutional Court of Ecuador unanimously rejected the petition calling for a referendum on the basis of technicalities. The court judgement rejecting the petition did not discuss or rule on the merits of the case, and the formal resolution of the court with further detail into the rejection is yet to be publ...Read More
The price of shredded ferrous scrap imported into India went down for the fourth consecutive week amid poor trading conditions, sources told Fastmarkets on Friday June 21.Fastmarkets' weekly index for containerized imports of shredded scrap into India fell to $312.87 per tonne cfr Nhava Sheva on Friday, down from $318.38 per tonne cfr Nhava Sheva on Friday June 14.This is the lowest price to date...Read More
Turkish steel mills stayed away from the deep-sea scrap market at the end of the week amid increasing stock levels, sources said on Friday June 21.After booking a US cargo on Wednesday June 19, the mills went quiet in the deep-sea markets.A steel mill in the Iskenderun region had booked the US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $278.50 per tonne and 7,000 tonnes of shredded at $2...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsThe Vancouver-headquartered company said Thursday progress on three main fronts - technical, permitting and financing - had its Florence copper project in Arizona, USA, on track to be construction-ready in the first half of 2020.CEO Russell Hallbauer said: "Based on previous bench-scale testing, we expected it would take upwards of...Read More
Iron ore prices were rangebound on Friday June 21 with more concerns raised over the profit margins of Chinese steelmakers.MB 62% Fe Iron Ore Index: $116.98 per tonne cfr Qingdao, down $0.27 per tonne. MB 62% Fe Pilbara Blend Fines Index: $115.78 per tonne cfr Qingdao, down $0.27 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $118.46 per tonne cfr Qingdao, down $0.33 per tonne. MB 58% Fe Premium...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron ore Iron ore BHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, traded at the July average of a 62% Fe index at a premium of $5.65 per tonne, July arrival. BHP, Global Ore, 170,000 tonnes of 62%...Read More
Iran’s shooting down of a US drone has raised tensions in the Middle East, with gold and oil prices extending gains. Spot gold reached a high of $1,411.90 per oz after US President Donald Trump reportedly ordered an attack on Iran, which was later aborted. Equities in Asia have weakened across the board. Base metals Three-month base metals on the London Metal Exchange...Read More
The London Metal Exchange has reintroduced a matched bargain service to facilitate the buying and selling of B shares across its membership structure, it said in a note to members on Friday June 21.Stemming from the bourse's Strategic Pathway, which began in 2017, the LME pledged to provide an adequate matched bargain facility and leasing scheme for B shares after its previous service was disconti...Read More
Trading was active in China's export hot-rolled coil market on June 21, with traders rushing to restock on expectations that prices will gain further. Domestic Eastern China (Shanghai): 3,780-3,800 yuan ($550-553) per tonne, up 10-20 yuan per tonne. Northern China (Tianjin): 3,770-3,780 yuan per tonne, narrowing upward 10 yuan per tonne. Prices climbed further on Friday on futures g...Read More
Iran's shooting down of a US drone has raised tensions in the Middle East, with gold and oil prices extending gains, while equities in Asia have weakened.Spot gold price reaches high of $1,411.90 per ozUS President Donald Trump reportedly ordered an attack on Iran, which was later aborted Asian equities weaker across the board Base metals Three-month base metals on the London Metal Exchange were f...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.Gasoline prices are expected to move higher over the weekend. Crude oil prices have moved higher due to greater disturbances in the Middle East. In addition, the largest refinery complex on the U.S. East Coast experienced an explosion last night. The Canadian Dollar slipped 0.05 to 75.75...Read More
Base metals prices on the Shanghai Futures Exchange were broadly down during the morning trading session on Friday June 21, with nickel leading the charge lower.The most-traded August nickel contract stood at 98,450 yuan ($14,332) per tonne as at 10.15am Shanghai time, down by 1,430 yuan per tonne, or 1.4%, from Thursday's close of 99,880 yuan per tonne.The rest of the complex, barring tin, were i...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price assessment, click here.To see all Fastmarkets' pricing methodology and specification documents, go to www.metalbulletin.com/prices/pricing-methodology.Friday...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 June 21:Minor metalsBismuth MB free market, $/lb: $3-3.20 per lb from $3-3.30Bismuth MB China domestic, yuan/tonne: 42,000-43,000 yuan per tonne from 41,500-43,500 yuanCobalt MB free market alloy grade, $/lb: $14.50-15.15 per lb from $14.60-15.30Cobalt...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Prices for flat stainless steel products produced and delivered in Europe fell his week because of low demand and an expected surge of imports from July 1, Fastmarkets heard on Friday June 21. One European producer posted monthly alloy surcharges for July at lower levels than for June; others are expected to follow suit. Anticipation of these decreases is also believed to have weighed on stainless...Read More
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