New Century has achieved commercial production by processing tailings left by the Century mine, once the world's largest zinc mine located in northwest Queensland of Australia. The Australia-based company produced 34,500 tonnes of zinc metal in the second quarter of this year, up 22% year on year, it said on Monday July 6. "From a market perspective, despite the zinc price remaining near four-year...Read More

The three-month copper price on the London Metal Exchange was higher during morning trading on Thursday July 9, with price action pushing firmly above nearby resistance levels, while a sizeable fresh cancellation in LME zinc stocks saw the metal's underlying price also rally. Copper's outright price on the LME was recently trading at $6,352 per tonne, climbing from a morning low of $6,246 per tonn...Read More

UK Trading house Sucden Financial has appointed ex-Soci?(C)t?(C) G?(C)n?(C)rale metals trading head Alan Burr to its London Metal Exchange metals and options desk in Hong Kong, the company said on Thursday July 9. Burr's appointment will enhance the company's Hong Kong operations, where he will focus on market-making and adding liquidity in the region, it said. His primary focus will be LME metal...Read More

The European construction industry has reported different levels of operational strength across various countries, with some projects reported as cancelled or postponed, putting pressure on demand for long steel products, sources have told Fastmarkets.For long steel products such as beams, hollow sections, rebar and wire rod, construction is a key sector for demand. With the Covid-19 pandemic and...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe extension to the payment deadlines reduces the total payments due between May 2020 and February 2021 from US$9.Read More

Prices for most flat steel imports into the United States have declined alongside falling domestic prices over the past two weeks, with exporters lowering offers in order to remain competitive.But bookings have been spotty, sources said, noting that although the prices have lowered compared with two weeks ago, offer levels are still not convincing enough for US buyers to place orders for products...Read More

Domestic rebar prices decreased in Egypt over the week to Thursday, July 9 due to the lower priced offers and deals heard, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,200-9,700 ($573-604) per tonne ex-works including 14% VAT this week, down from E ?9,200-10,100 per tonne ex-works previously, with deals made at E ?9,200-9,680 per tonne ex-works including 14% VAT, s...Read More

Domestic prices for hot-rolled coil in Northern Europe moved slightly upward day on day on Thursday July 9, and the steelmakers were insisting that there will be further price rises, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?404.29 ($456.93) per tonne on Thursday, up by just ?,?0.29 per tonne from ?,?404.00 per...Read More

Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc. Wednesday saw European equities pull back and those in the United States initially followed, but then US stocks ended Wednesday with ga...Read More

Turkish steel billet prices fell in the week to Thursday July 9, in line with the latest downturn in the deep-sea scrap import values, sources said. Suppliers in the Commonwealth of Independent States (CIS) lowered their offers for Turkey by $5 per tonne to $375-385 per tonne cfr, while the highest bid from Turkey was heard at $370 per tonne cfr. There were no significant transactions heard over t...Read More

In light of the recent turmoil in the oil market, the Fastmarkets research team has closely examined the correlations between the price of oil and the prices for ferrous scrap and finished steel products, to discover nuanced relationships and their changes over time.It is common for steel market participants to refer to high correlations between oil prices and the prices for scrap and steel. Among...Read More

Walgreen Boots (WBA), a Dow Jones Industrial stock moved below $39.83 setting an intermediate downtrend. The company announced plans to reduce its workforce by 7,000.CVS Health (CVS), an S&P 100 stock moved below $61.82 setting an intermediate downtrend.More precious metal stock breakouts on U.S. equity markets! Wheaton Precious Metals moved above US$47.05 to an all-time high, Kinross Gold mov...Read More

The Turkish deep-sea ferrous scrap import market remained quiet, with mills in the country holding back from purchasing due to weak finished long steel sales, sources said on Thursday July 9.Turkish steel producers booked five deep-sea cargoes late last week, totalling around 140,000 tonnes.But the mills then went quiet in the deep-sea market at the beginning of this week after failing to sel...Read More

South Africa's government has launched an investigation into how the supply of scrap metal has been affected by the challenges related to the Covid-19 pandemic, and has banned scrap exports for a period of two months beginning July 3.The country's minister at the department of trade, industry and competition (DTIC), Ebrahim Patel, has issued a trade policy directive to the International Trade Admi...Read More

Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, has cancelled the state of force majeure declared to its clients in early April due to the effects of the Covid-19 pandemic, the company said on Thursday July 9.JSW adopted a resolution on the cancellation on Thursday. The state of force majeure has been in place for three months.https://www.metalbulle...Read More

The price for cargoes of steel scrap imported to Bangladesh increased by $4 per tonne at the midpoint week on week following stronger demand for scrap in the South Asian nation, together with a revival of activity from Turkey. Fastmarkets' price assessment for bulk cargoes of steel scrap, HMS 1&2 (80:20), deep-sea origin, import, cfr Bangladesh was $268-275 per tonne on Thursday July 9, up $3...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.In a webinar we conducted on Asian ferro alloys, our research team discussed the Chinese authorities' announcing some major infrastructure investments that will increase demand for steel and steel raw materials, including iron ore. Our research shows that the recent infrastructure investment announcements are equal to about...Read More

Movements in prices for seaborne iron ore were rangebound on Thursday July 9, with concerns coming to light over the limited port inventories of some low- and mid-grade iron ore fines brands, according to market participants.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $106.32 per tonne, down by $0.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.30 per tonne, up by $0.02 per ton...Read More

Seaborne prices generally remained flat on Thursday July 9 amid a muted spot market while buyers and sellers are in a stalemate, market participants said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.03 per tonne, down $0.33 per tonne Premium hard coking coal, cfr Jingtang: $124.80 per tonne, down $0.42 per tonneHard coking coal, fob DBCT: $93.83 per tonne, unchangedHard coking coal,...Read More

China's hot-rolled coil prices climbed to their highest in nearly six months on Thursday July 9 despite rising inventory levels, with the previous day's trading activity encouraging sellers to issue higher offers.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($551-553) per tonne, up 20 yuan per tonneShanghai's HRC market has shaken off all of the decreases resulting from the Covid-19 outbreak...Read More