Export prices for pig iron from the Commonwealth of Independent States (CIS) remained stable over the week, while suppliers seek a price rise in the United States, sources told Fastmarkets.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $335-340 per tonne fob Black Sea on February 28, unchanged week on week.The latest deals for material have been made with buyers in th...Read More
UK prices for alloy steel scrap were unchanged on Friday March 1, reflecting the relatively stable prices in the markets for nickel and molybdic oxide.Traders in the UK remarked on a very flat and stable market, with no apparent pressures on prices. Supply and demand were unchanged and unexceptional, sources said.The price of domestic UK 18/8 stainless steel scrap solids on March 1 remained at ?8...Read More
China's hot-rolled coil exporters continued to aim for higher prices on Friday March 1 following futures-led gains in the domestic market.DomesticEastern China (Shanghai): 3,840-3,860 yuan ($574-577) per tonne, up 20-30 yuan per tonneNorthern China (Tianjin): 3,760-3,820 yuan per tonne, up 20-60 yuan per tonneFurther gains in the future market gave spot prices more upward momentum during the day.T...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday March 01* Copper -$167.67 (-1,126.68 yuan) Aluminium -$339.23 (-2,279.58 yuan) Zinc -$153.96 (-1,034.57 yuan) Nickel -$248.5 (-1,669.9 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday March 1, with a slight uptick in the US dollar index capping gains while disappointing Chinese and European PMI data continues to show weakness across global manufacturing sectors. That said, both copper and nickel, which are widely used as components in construction and infrastructure works, have co...Read More
Prices in the seaborne coking coal spot market moved in opposite directions on Friday March 1, with some Chinese buyers becoming more willing to pay more for materials while fob Australia offers start to show some weakness.A top Australian brand was sold via a miner's tender at around $217-218 per tonne to a Chinese trader, sources said during the day. A cargo in the same segment was traded around...Read More
China's domestic rebar prices rebounded for a second time this week on Friday March 1 on gains in the futures market, while the export segment also received a small boost.Domestic Eastern China (Shanghai): 3,780-3,830 yuan ($565-572) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,780-3,830 yuan per tonne, up 50 yuan per tonneRebar futures posted gains for two consecutive days, which re...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
U.S. equity index futures were higher this morning. S&P 500 futures gained 16 points in pre-opening trade. Index futures are responding to a 1.8% gain by the Shanghai Composite Index in anticipation of a trade deal between China and the U.S. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for January Personal Income was an increase of 0.3% ve...Read More
The following Fastmarkets minor metals prices changed on Friday March 1:Minor metalsAntimony MB free market regulus, $/tonne: $7,700-7,900 per tonne from $7,800-8,000Bismuth MB China domestic, yuan/tonne: 47,500-49,500 yuan per tonne from 48,500-50,500 yuanChromium MB free market alumino-thermic, $/tonne: $8,650-9,400 from $8,800-9,600Cobalt MB free market alloy grade, $/lb: $15.00-16.00 per lb...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
The transaction price for grade-304 stainless steel cold-rolled sheet products in Europe has increased this week following the announcement of a sharp rise in alloy surcharges by mills in the region.The March surcharges for grade-304 cold-rolled (CR) stainless sheets increased to ?,?1,308-1,351 ($1,489-1,538) per tonne on Friday March 1, according to data released by Outokumpu, Acerinox and Aperam...Read More
An award-winning scientist, engineer, and millionaire several times over predicted that by 2029, humans could start living forever. That's right. Immortality is almost here. This 'futurist' has been frightening the masses with his predictions for years. He predicted the collapse of the Soviet Union, described the rise of the Internet, and foretold the year a computer would beat a World chess ch...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday March 1:Aluminium scrapCast: ?,?960-980 per tonne from ?,?960-1,000Aluminium...Read More
Prices for ferrous scrap in the Asian markets have started to decline due to weaker demand from key downstream buyers in Vietnam and Taiwan, Fastmarkets heard on Friday March 1.Buyers in these two territories were out of the market temporarily, either on vacation or while waiting for further price falls.VietnamImport prices into the Southeast Asian nation were lower because of ample availability o...Read More
Import prices for steel billet in Southeast Asia were stable on Friday March 1 amid thin buying interest and the resulting lack of transactions.Fastmarkets' daily import price assessment for billet in Southeast Asia was $480-485 per tonne cfr Manila on Friday March 1, the same as the previous day. Southeast Asia's import prices have been largely steady since February 14 and last week rem...Read More
The mineral development industry continues to rely on and support a varied network of suppliers. From early-stage exploration to decommissioning, suppliers are there every step of the way, providing the goods and services that keep the industry humming.DSI UndergroundLuxembourg-based DSI Underground has bought Fero Group, an Australian galvanizing services and mesh-making firm. DSI's Australian o...Read More
SANTIAGO, CHILE - From barely featuring on the global mining map at the start of this century, Ecuador has moved rapidly to become one of the most dynamic jurisdictions in South America, with two mines due to enter production later this year.The sector's flagship venture is Lundin Gold's (TSX: LUG; US-OTC: FTMNF) US$692-million Fruta del Norte high-grade gold mine development, whose history mirror...Read More
Emerging copper-gold developer SolGold (TSX: SOLG; LON: SOLG) is steadily progressing toward its ultimate goal: to develop a province of discoveries across the under-explored Ecuadorean section of the Andean Copper Belt.SolGold is continuing to drill its Alpala copper-gold project in northern Ecuador, where in late 2018 it doubled its resource and substantially upgraded inferred resources to the i...Read More
The year was 1975, and I was involved with initial exploration of the Ertsberg East skarn system (GBT, IOZ and DOZ copper deposits) for Freeport Exploration on the island of New Guinea. This was a helicopter-supported drill project, 2 km away from the yet-to-be-discovered Grasberg copper-gold deposit. I had a crew of about 20 locals, mostly building camps, drill sites and trails at elevations of a...Read More