Turkish billet prices feel in the week ended November 4 in line with lower imported scrap costs and poor demand, market participants told Fastmarkets.Suppliers in the Commonwealth of Independent States (CIS) have lowered their offers to $700-705 per tonne cfr, compared with $725-730 per tonne last week.However, the buyers bid only $660-670 per tonne for CIS-origin billet. A steel mill in the Isken...Read More
Turkish steel mills have continued their deep-sea scrap imports with recovering prices on Thursday November 4, market participants told Fastmarkets.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:20) at $500 per tonne, 7,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr. Another steel mill in the same region booked a cargo from the...Read More
Vale and South Korea's Posco have signed a memorandum of understanding to seek low-carbon steelmaking solutions, the Brazil-headquartered company said on Thursday November 4.The world's largest iron ore producer and the steel producer are in talks about cutting carbon emissions - part of the strategy could involve Vale's higher-quality iron ore fines, pellets and briquettes, Vale added.This will a...Read More
The success side of the Chinese economic equation is well-known. It is the world's second-largest economy after the U.S. It has experienced the highest compound annual growth rate of any economy in history over the past 30 years. Literally several hundred million people have been lifted from poverty and are now able to enjoy a reasonable standard of living even if it seems spartan from the perspec...Read More
When the U.K. voted for Brexit in June 2016, the globalists were stunned. They couldn't believe it. They then did everything they could to delay and fight Brexit.Then when Donald Trump won the election as president in November 2016, the globalists were even more stunned. They went into complete denial and put their heads in the sand. They comforted themselves with the convenient myth that Russian...Read More
Hot-rolled coil spot prices in China retreated to eight-month lows on Thursday November 4 as part of a broad-based decline led by coal.DomesticEastern China (Shanghai): 4,980-5,000 yuan ($779-782) per tonne, down by 70-100 yuan per tonneSpot HRC prices in China's eastern market fell to their lowest since March 18, wiping out all of Wednesday's gains.Traders reported that the price decline has redu...Read More
LME base metal prices rose during the morning session on Thursday November 4, shrugging off news that the Federal Reserve will scale back its monetary easing measures.Although the US central bank will taper its monthly bond buying programme, this does not mean an immediate rise in interest rates - the Federal Reserve "can be patient," according to chair Jerome Powell. The timing for rate increases...Read More
Domestic rebar prices in China stopped falling on Thursday November 4, reflecting tighter supply from steel mills and on the spot market.East China (Shanghai): 4,950-4,980 yuan ($774-778) per tonne, unchangedOver the week to Thursday, rebar output totaled 2.88 million tonnes, a decrease of 21,600 tonnes from the previous week. According to a local industry information...Read More
Base metals prices on the LME and SHFE were mixed early on Thursday November 4, but neither the metals nor the broader markets have been rattled by the US Federal Reserve's announcement that it is to start tapering its monthly bond buying programme.The United States Federal Reserve to trim bond buying by $15 billion a month - it had been buying $120 billion a monthA pick-up in Covid-19 cases in Ch...Read More
The price of manganese flake has reached all-time highs in China and Europe, with most producers remaining bullish on the medium-and long-term outlook due to supply tightness. However, risk aversion continues in Europe; some cheaper offers are casting doubts about the immediate price direction of the metal, Fastmarkets heard.The manganese flake price has been on the rise in China since May, peakin...Read More
Key data from Fastmarkets' pricing session onThursday November 4.Key DriversFastmarkets' price assessment for selenium narrowed upward on higher deals in a buoyant market, with buyers seeking spot units and long-term contracts...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
An overview of the consumer electronics markets and their latest price moves on Thursday November 4.Janie Davies in London...Read More
International spot cobalt prices have continued their trend upward over the past week, fueled by bullish sentiment in long-term contract negotiations due to next year's improved demand outlook, sources said.Spot units remain in tight hands, with sellers offering aggressively, while some spot buying appetite has returned among consumers in the United States and the European markets following the co...Read More
A summary of Finland-based stainless steel producer Outokumpu's results for the third quarter of 2021.In brief Sales increased significantly year on year due to higher deliveries and stainless steel prices as the market recovers from Covid-19. Stainless steel deliveries increased by 18% from the third quarter of 2020, which was heavily affected by the pandemic, but declined by 8% compared with the...Read More
Sherritt International (TSX: S) is making plans to expand production and lengthen the life of the Moa nickel-cobalt mine in Cuba. Moa is a joint venture of Sherritt (50%) and General Nickel Co. of Cuba (50%).The plan calls for a multi-phased approach, and work will include a new slurry preparation plant and expansion of other circuits at the mill. Existing equipment at Sherritt's 100%-owned refine...Read More
Capstone Mining (TSX: CS) has received final approvals from the U.S. Forest Service for a new mine plan for the Pinto Valley copper mine 125 km east of Phoenix, Arizona. The mine life is extended 28 years to 2039, during which time it is expected to produce 2.5 billion lb. of copper.The mine is located in the Tonto National Forest and gaining approval for the changes took five years.Capstone compl...Read More
Otso Gold (TSXV: OTSO) has restarted production and completed the first gold pour at its namesake mine operation located near the town of Raahe in central Finland.The restart of production and the gold pour is the culmination of the completion of all the preparatory works and the hiring and training of over 140 full-time staff now on site with a further 128 contractors retained to provide permane...Read More
Canada's B2Gold (TSX: BTO; NYSE-AM: BTG) remains optimistic about solving an impasse with the government of Mali, which refused in March renewing the miner's permit for its Menankoto exploration project, located 20 kms north from its flagship Fekola gold mine.Since beginning its activities in Mali in 2014, B2Gold had enjoyed a "positive and mutually beneficial relationship" with the country's go...Read More