China's hot-rolled coil exporters capitalized on higher prices on Friday June 28 amid stability in the domestic market.DomesticEastern China (Shanghai): 3,920-3,940 yuan ($570-573) per tonne, narrowing from 3,900-3,950 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10 yuan per tonneTrading activity picked up a bit in Shanghai after prices fell a bit from the high end compar...Read More
In his speech during the opening session of the recent 2019 Intersessional Meeting of the Kimberley Process (KP), World Diamond Council president Stephane Fischler urged KP member countries to optimise the developmental opportunities provided by natural resources by protecting the interests of mining communities. The meeting took place in Mumbai, India, and was the first of two KP meetings to be h...Read More
The price of shredded ferrous scrap imported into India decreased for the fifth consecutive week, however many market participants were optimistic that prices had reached their lowest and a recovery was imminent, sources told Fastmarkets on Friday June 28.Fastmarkets' weekly index for containerized imports of shredded scrap into India went down to $308.88 per tonne cfr Nhava Sheva on Friday, from...Read More
Turkish steel producers returned to the deep-sea scrap market for August shipment cargoes at the end of the week, accepting higher prices, sources said on Friday June 28.A steel mill in the Izmir region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $293 per tonne, 15,000 tonnes of shredded at $298 per tonne and 5,000 tonnes of bonus scrap at $303 per tonne cfr on...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe environment group claims that the mine degrades the forests and rivers around Kasibu.Read More
Seaborne iron ore prices were steady on Friday June 28, with only minimal price moves compared with Thursday's activity, but interest in the Singapore Exchange's (SGX) 65% Fe iron ore derivative contract remained strong.By 6:30pm Singapore time, 205,000 tonnes had been traded and cleared on the contract, according to SGX data. This compares with 143,000 tonnes traded the previous day.MB...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland mineralsBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25Finally, a changed mining tech M&A landscapeSPONSOREDatricoThe collapse of "mining galleries" near the active Kamoto openpit at Katanga that reportedly killed a number of illegal miners...Read More
Pessimism remained in the seaborne coking coal market despite cfr China prices regaining some losses on Friday June 28.A Capesize cargo of premium low-vol hard coking coal, scheduled for loading over July 5-15, was sold to a southern Chinese steelmaker at $197 per tonne cfr China during the day, a source at the mill said."I would still think that the price floor has yet to be reached. But we have...Read More
Cheaper H2 scrap from Japan is likely to limit the large quantities of heavy melting scrap (HMS) coming into the region from the United States, at least in the near term, market sources told Fastmarkets this week.This is mainly because Vietnamese steel mills will be loathe to pay premiums for US-origin material when they can get Japanese scrap at cheaper prices.VietnamFastmarkets' price assessment...Read More
China's rebar market maintained its upward momentum on Friday June 28 amid rising futures, though spot demand fell gradually. Domestic Eastern China (Shanghai): 3,960-4,000 yuan ($577-583) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,850-3,880 yuan per tonne, up 40-50 yuan per tonneRebar futures rose during the day with traders engaging in speculation amid bullish sentiment attribute...Read More
The first day of the Group of 20 (G20) summit in Japan gets underway on Friday June 28. With world leaders gathering at the event, and a few notable meetings scheduled on the sidelines, market participants will be keeping a close eye on any developments.The London Metal Exchange three-month base metals prices were weaker on Friday morning and it is worth noting that the strongest performer this we...Read More
Monday is a federal statutory holiday celebrating the dominion of Canada.Pre-opening Comments for Friday June 28thU.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for May Personal Income was an increase of 0.3% versus a gain of 0.5% in Apr...Read More
Base metals prices on the Shanghai Futures Exchange were mostly little changed to weaker during Asian morning trading on Friday June 28, with aluminium leading on the downside. The most-traded August aluminium contract on the SHFE stood at 13,805 yuan ($2,008) per tonne as at 10.38am Shanghai time, down by 95 yuan per tonne, or 0.7%, from Thursday's close of 13,900 yuan per tonne.The rest of the c...Read More
ERG partially restarted production of cobalt metal at Chambishi in Zambia earlier this month. It is understood that the new production is fed by hydroxide produced at ERG's Metalkol Roan Tailings & Reclamation (RTR) project in the Democratic Republic of Congo (DRC). RTR started production late last year, with output in the process of increasing to 14,000 tonnes per year of cobalt in the form of...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 28:Minor metalsAntimony MB free market regulus, $/tonne: $6,180-6,400 per tonne from $6,300-6,500Antimony MMTA standard grade II, $/tonne: $6,100-6,350 per tonne from $6,150-6,400Bismuth MB free market, $/lb: $2.95-3.15 per lb from $3.00-3.20Bismuth MB China domestic, yuan/tonne: 41,500-42,500 yuan per tonne from 42,000-43,000 yu...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
Fastmarkets MB is proposing the launch of weekly export price assessments for stainless grade 304 Chinese hot-rolled coil and cold-rolled coil.These assessments highlight China's status as a major exporter of stainless steel and will serve as a price benchmark for the international market for the products.Assessment: Stainless steel cold-rolled coil, grade 304 (2mm), fob China, $/tonne Qualit...Read More
Billionaire investor Warren Buffett is often labeled frugal.He lives in the same house he bought back in 1958 for $31,500.He never spends more than $3.17 on breakfast, and up until 2014, was driving the same 2006 Cadillac DTS.It wasn't until his daughter told him it was embarrassing that he traded up for the new XTS model.Contrast Buffett's frugal lifestyle to this story shared on Reddit a few mon...Read More
Mortgage rates have been dropping for the past few months, with a 30-year fixed falling to 4% recently according to FreddieMac. And now there's the possibility that the Fed will lower interest rates this summer. So this could be the ideal time to buy that home you've been eyeing.But suppose you have credit problems or haven't saved enough for a hefty down payment (20% for most conventional loans)?...Read More