Prices for flat steel imports into the United Arab Emirates and Saudi Arabia continued to increase during the week ended Tuesday October 19, but demand was not strong in either country, sources have told Fastmarkets.Energy costs have been increasing in most markets, with steel mills adding these costs to their prices.Although sources said that demand in the two Middle Eastern countries was not ver...Read More
Tavsan is being developed by local player Zenit Madencilik, in which Ariana holds a 23.5% stake.Read More
Base metals prices continued to soar higher this morning, Tuesday October 19, with cash prices rising at an even faster pace while shorts are squeezed. Cash copper prices on the London Metal Exchange were evaluated on Monday evening at $1,103.50 per tonne.* All of the LME base metals’ cash/three-month spreads, except that for aluminium, are in backwardation.* Risk appetite is fairly upbeat de...Read More
Exporters of billet from the Commonwealth of Independent States aggressively increased offers on October 19, although no sales were heard at the higher levels.Fastmarkets' calculation of its daily steel billet index export, fob Black Sea, CIS was $650 per tonne on October 19, up by $1 per tonne...Read More
3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesThe event, from January 31 to February 3, has been organised with the theme of Engag...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy moved downward on Tuesday October 19 on increased supply to the spot market resulting from lower consumption by the automotive sector, sources told Fastmarkets.As a result, buyers have been cautious in their purchasing because they believed that cheaper prices would be available soon.Auto-industry output - and, consequently, steel de...Read More
Trading liquidity for Chinese steel cold-rolled coil and hot-dipped galvanized coil remained quiet in the week ended October 19 after growing fears of export policy changes ahead of the end of the year dented buying interest for Chinese material.Changes in export prices for Chinese CRC and HDG were moderate compared with the previous week, with domestic prices continuing to fluctuate amid supply r...Read More
Export prices for flat steel product from the Commonwealth of Independent States rose during the week ended Monday October 18 on a stronger local market in Turkey - the key destination for flat steel exports from Russia and Ukraine.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $820-840 per tonne on Monday, up by $20 per tonne from $800-820 per...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadership3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsWith metal prices continuing to be strong S&P Global expects the aggregate exploration budget to increase between 5% and 15% for...Read More
3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resources"Hydrogen presents a significant opportunity for economic development in South Afric...Read More
3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesIron ore production was down 3% quarter-on-quarter and 4% year-on-year to 63.3 milli...Read More
"We are seeing a number of majors looking at Argentina, pressing their noses against the window and looking at Los Azules.Read More
There were no deep-sea bookings by Turkish steel mills on Tuesday October 19, but sources expect mills to book more cargoes for December amid strong demand for billet and rebar, market participants told Fastmarkets.The most recent deep-sea trade was recorded on Monday October 18, when a steel mill in the Iskenderun region booked a Baltic Sea cargo consisting of 6,500 tonnes HMS 1&2 (95:5) at $512...Read More
Seaborne coking coal prices were relatively stable on Tuesday October 19, with no trading activity heard. And the seaborne premium fob price will likely remain steady for the rest of the year, several sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, down by $0.44 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, unchangedPremium hard coking coal,...Read More
German steelmakers have settled their monthly steel scrap contracts for October at fairly stable prices, sources told Fastmarkets on Tuesday October 19.Deals settled at the beginning of the month were at stable prices or, in some cases, slightly lower. By the middle of October, however, after international scrap prices rebounded, German suppliers refused to accept lower prices. This meant that mil...Read More
Spread the lovePRIVATE BLOG - Gold & the BenchmarksPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
Seaborne iron ore prices inched lower on Tuesday October 19 because market participants adopted a weak outlook for iron ore demand after more news of steel production cuts in south China's Jiangsu province and iron ore logistics disruptions in north China's Tangshan, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.04 per tonne, down $0.28 per tonne62% Fe low-alumina...Read More
Tokyo Steel has increased its domestic scrap purchase prices for the fourth time in October, keeping Japan's export offers for steel scrap well supported, sources told Fastmarkets on Tuesday October 19.?EUR?Tokyo Steel raises scrap buy prices?EUR?Japanese material unaffordable to buyers in China?EUR?Taiwanese buyers bid higherJapanTokyo Steel, Japan's largest operator of electric-arc furnaces, ann...Read More
What do Toyota's automotive plant shutdowns have to do with steel scrap prices?A lot, apparently.Japan's largest automaker's on-off production schedule has been a major driving force behind some of the sharp price rises for Japanese scrap in both the domestic and seaborne markets, especially for the prime-grade material.In Japan, such scrap is referred to as Shindachi, which comprises Shindachi Ba...Read More
Domestic hot-rolled coil prices in China narrowed upward on Tuesday October 19, with market sentiment boosted by new production curbs in the country's eastern region.DomesticEastern China (Shanghai): 5,780-5,800 yuan ($898-902) per tonne, narrowing upward by 80 yuan per tonneDue to power rationing, Shagang - a major steelmaker in East China's Jiangsu province - will suspend its rolling lines from...Read More