The United States' ferrous scrap export market is enjoying momentum on the West Coast, with a pair of bulk cargoes and decent container sales concluded, while the East Coast remains quiet.From the West Coast, one cargo for an 80:20 mix of No1 and No2 heavy melting scrap was sold to Vietnam at $308 per tonne cfr on Thursday July 11 and another for the same material to Taiwan at $303...Read More
The largest investment project of Russian diamond miner Alrosa, the Verkhne-Munskoye diamond deposit, produced a 63.15 carat diamond earlier this month. The rough stone came from the deposit's Zapolyarnaya pipe. The crystal has an octahedral shape with small chips on the edges and tops. The mined diamond is transparent with a yellow hue. The Verkhne-Munskoye diamond deposit is located in the...Read More
The World Gold Council published its "mid-year outlook" for 2019. The WGC explained that there are four attributes that make gold a valuable strategic asset, by providing investors with a source of return; low correlation to major asset classes in both expansionary and recessionary periods; a mainstream asset that is as liquid as other financial securities; and a history of improved portfolio ris...Read More
The 2019 Global Multi-Stakeholder SIDS Partnership Dialogue, which took place at the United Nation in parallel with the UN High-Level Political Forum on Sustainable Development (HLPF), focused on opportunities available to a group of 57 small-island developing states in the Pacific and Indian Oceans and the Caribbean, Mediterranean and South China Seas, examining how they may be advanced through m...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on Wednesday July 17, because of the sluggish finished steel demand, sources told Fastmarkets.After booking a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20), the mills have stayed out of the market despite still needing to buy more cargoes for August deliveries."The steel producers in Turkey need to buy scrap for August...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 transactions: iron oreIron oreVale, Global Ore, 85,000 tonnes of 65% Fe Iron Ore Carajas, traded at $128.70 per tonne cfr China, bill of lading dated July 8.BHP, bilateral...Read More
Trading activity in the seaborne coking coal market was muted on Wednesday July 17 with Chinese buyers and global sellers digesting the implications of restrictions on imported coal at ports in China. Earlier this week, the Port of Caofeidian in Hebei province restricted customs declarations to only local end users, market sources said on Tuesday. This effectively bars traders from using the port...Read More
BHP expects to produce 73-79 million tonnes of metallurgical coal over the next year even as it plans major wash plant shutdowns for the current quarter.The mining major said on Wednesday July 17 that it produced 20.98 million tonnes of metallurgical coal in the April-June period, down 1.2% year on year amid lower wash plant yields.Its output for the 12 months ended June 30 totaled 74.5 million to...Read More
BHP expects its Western Australia Iron Ore operations to produce 273-286 million tonnes of the steelmaking raw material on a 100% basis over the next 12 months amid a significant maintenance program at the Port of Port Hedland, from which it ships its cargoes abroad."As part of this, a major car dumper maintenance campaign is planned for the September 2019 quarter, with a corresponding impact expe...Read More
Global alumina prices have plummeted over the past two months in June and July due to poor demand and a surplus of excess cargoes in the market.Alumina prices in Western Australia, Brazil and China are all down over 15% since May and close to their lowest level in over two years. This is a stark contrast to this time last year, when alumina prices were trading close to record highs following strik...Read More
Australian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumSaturn's high-grade discovery gives Apollo Hill a rocketSPONSOREDsaturn metalsGolden Mile goes back to the futureSPONSOREDgolden mile resources'When top miners commit to an aspiration, that does trickle down'SPONSOREDdeloitteGroup copper-equivalent production jumped 11% in the June quarter,...Read More
Eastern China's domestic prices for hot-rolled coil continued to pick up strength on Wednesday July 17, while those in the northern region held steady.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($566-569) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedRising futures stimulated trading in the spot market in eastern China, resulting in more buyi...Read More
Trade negotiations between the United States and China following a meeting between the countries’ leaders on the sidelines of the Group of 20 (G20) summit in Japan at the end of last month have not progressed as well as investors had hoped. Instead, relations between the world’s two largest economies remain frosty following a report that China will sanction US firms that sell weapons to...Read More
China's domestic rebar prices maintained their upward momentum on Wednesday July 17 amid rising futures. Domestic Eastern China (Shanghai): 3,980-4,010 yuan ($579-583) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,930 yuan per tonne, up 10 yuan per tonneSome buyers raised their procurement rates to replenish their inventories on seeing the gains in the futures market.End users m...Read More
Key data from Fastmarkets' Wednesday July 17 pricing session in Europe:Key drivers The ferro-titanium market moved down amid a decline in spot demand for ferro-titanium for the past couple of months in response to a weakening European steel market, which is likely to remain quiet over the summer. The ferro-titanium market is close to its floor, according...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 17:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,200 per tonne from $6,000-6,200Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,800-6,000 per tonne from $5,900-6,150Cadmium 99.95% min, cif global ports, cents/lb: 105-115 per lb...Read More
U.S. equity index futures were mixed this morning. The S&P 500 futures were up one point in pre-opening trade.Index futures were virtually unchanged following release of June Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.262 million units from 1.269 million units in May. Actual was 1.253 million unitsThe Canadian Dollar was virtually unchanged at U.S. 76.50 cents following release o...Read More
A multi-year low in the cobalt metal price in China triggered the speculative buying witnessed over the week to July 12, which is likely to be followed by restocking activity in the spot market, Fastmarkets learned.Fastmarkets' assessment of the price for cobalt 99.8% Co min, ex-works China was at 210,000-230,000 yuan ($12.27-13.43 per lb, minus China VAT) per tonne on Friday July 12, down nearly...Read More
Trade negotiations between the United States and China following a meeting between the countries' leaders on the sidelines of the Group of 20 (G20) summit in Japan at the end of last month have not progressed as well as investors had hoped. Instead, relations between the world's two largest economies remain frosty following a report that China will sanction US firms that sell weapons to Taiwan. In...Read More
After working 25, 30, 35 years, or longer, you might think that retirement will be a like a permanent vacation where you sit back with your feet up and watch the world whiz by. But it's not. Retiring is a life changer, it can be a shock to your system, and it's not all fun. In fact, it may actually be the toughest job you've ever had. That's because one of the biggest challenges you'll face for th...Read More