(IDEX Online) -  The body of Jaysukh Gajera, president of Surat Diamond Polishers' Association, has been found on the bank of a river in Surat district.He headed the trade body for 15 years but went missing last Wednesday.Local police were quoted as saying Mr Gajera, 53, had been facing financial crisis during lockdown. They said they were exploring a number of possibilities.  ...Read More

Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Monday September 14, although steelmakers were continuing to seek higher prices, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.45 ($564.32) per tonne on Monday, up by ?,?0.44 per tonne from ?,?476.01 per tonne on September 11.The...Read More

The three-month aluminium price on the London Metal Exchange surpassed nearby resistance at the close of trading on Monday September 14, closing just above $1,800 per tonne after today's fresh cancellation of 41,325 tonnes triggered afternoon buying, while lead futures rose by 1.7% in the US trading session to push beyond $1,900 per tonne. Aluminium's outright price on the LME closed at $1,800.50...Read More

Vedanta Resources will divest its Mount Lyell copper mine in Tasmania, Australia, after aborting a plan to restart the mine due to restrictions related to Covid-19, Australian media reported.The original plan to bring the Queenstown mine back on line from February 2020 has been shelved, with the Indian company deciding last week to put the mine up for sale, Australian Broadcasting Corp (ABC) repor...Read More

The Singapore High Court has published a notice stating that commodities trader ZenRock filed a winding-up application on August 25 this year, while another commodities trader, Hontop, has been put under judicial management.The notice was published in the Singaporean government's electronic Government Gazette on Friday September 11.ZenRock's winding-up application will be heard on September 28, th...Read More

Rio Tinto and Turquoise Hill Resources (TRQ) have signed a memorandum of understanding (MOU) to fund the completion of the Oyu Tolgoi underground copper project in Mongolia, Rio Tinto said on Thursday September 10.The MOU seeks to raise up to $500 million in additional lending from selected international financial institutions. Rio Tinto owns approximately 50.8% of shares in TRQ, which owns a 66%...Read More

The impact of the Covid-19 pandemic on the aluminium industry has led many smelters to diversify their operating strategy and production levels, and Alvance Aluminium's Dunkerque smelter was no exception, its managing director Am?(C)lie Hennion told Fastmarkets.Hennion explained that flexibility was key for the Dunkerque smelter in France and that there was still a high level of market uncertainty...Read More

Barring those for zinc and tin, deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses were little changed in the week to Friday September 11.Zinc stocks declined the most in percentage terms, falling by 21.4% (15,872 tonnes) to 58,453 tonnes as of Friday.Warehousing company Yuqiang in Shanghai saw the largest outflow with 5,432 tonnes of zinc this week, leaving behind 5,9...Read More

Fastmarkets' Ferrous Analytics report will help subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Analysts at Fastmarkets have been impressed by the persistent strength - and indeed the acceleration - of the raw materials prices identified in this month's Ferrous Analytics report....Read More

Export prices for flat steel products from the Commonwealth of Independent States (CIS) increased during the week to Monday September 14 on higher offers, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $505-515 per tonne on Monday, up from $492-505 per tonne one week earlier.Fastmarkets' weekly...Read More

Steel rebar producers in Egypt have increased their prices with effect from Monday September 14, Fastmarkets has learnt.The country's biggest producer, Ezz Steel, was now offering rebar at E ?10,100 ($640) per tonne ex-works including 14% VAT. This was up from E ?9,750 per tonne ex-works including VAT. ...Read More

China's hot-rolled coil prices gained in the domestic market on Monday September 14, but some exporters signed deals to Vietnam at prices below market averages.DomesticEastern China (Shanghai): 3,920-3,940 yuan ($574-577) yuan per tonne, up 20-30 yuan per tonnePrices in Shanghai gained from Friday, following futures gains, but trading activity was merely moderate, sources told Fastmarket...Read More

Tight regional supply of hot-rolled coil, as well as Vietnamese steelmaker Formosa Ha Tinh Steel Corp's increase in November-shipment offers, continued to boost import prices in Vietnam in the past week.Market sources said there were limited materials in the spot market because at least two major Indian steel mills had withdrawn offers in anticipation of more improvements in India's domestic marke...Read More

Base metals prices and equity markets were for the most part firmer on Monday September 14, and the common theme seems to be higher hopes for Covid-19 vaccines.Pharmaceutical company AstraZeneca said it has resumed phase three clinical trials, China stated that it was close to a viable vaccine too and drugmaker Pfizer said a vaccine could be distributed in the United States by the end of the year....Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.AVZ closes on financing for tier-one lithium projectSPONSOREDavz mineralsIn a report released on Monday, Bernstein forecast copper prices would average US$8,100/tonne in 2024, up from an estimated average of US$5,900/tonne in 2020.Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 38 points in pre-opening trade. Strength in index futures was influenced by a series of mega-takeover offers.Gilead slipped $0.60 to $64.30 and Immunomedics jumped $44.87 to $87.12 after Gilead offered to acquire Immunomedics for $88 per share cash. Value of the offer is $21 billion.Oracle gained $5.56 to an all-time h...Read More

Iron ore prices gained again on Monday September 14, with market sources expecting mills to replenish their iron ore inventory before the Golden Week holiday in October in China, which resulted in active trading at ports and a rise in prices.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $130.17 per tonne, up $1.80 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.22 per tonne, up...Read More

Turkish steel producers skipped the first working day of the week with no deep-sea bookings amid firm offers, sources said on Monday September 14. Mills in Turkey booked seven deep-sea cargoes, totalling around 230,000 tonnes early last week before withdrawing from the market on Thursday. The latest bookings put the scrap import prices into Turkey at $301 per tonne cfr on HMS 1&2 (80:20) basis. Ho...Read More

Turkish domestic auto bundle scrap prices moved up slightly on Monday September 14 on the weakening lira, while ship scrap prices were largely stable, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 2,040-2,270 lira ($273-304) per tonne on Monday, up from 2,040-2,225 lira per tonne a week earlier.The movement in the a...Read More

A correction has been issued for this article.The...Read More