Domestic hot-rolled coil prices in Northern Europe were largely unchanged on Tuesday October 20, but buyers expect producers to increase their official offers soon, sources told Fastmarkets. The offer prices will rise, they added, based on the combination of reduced availability and solid demand.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Eur...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia mostly edged down over the past week amid limited demand, sources said on Tuesday October 20.UAEOffer prices for hot-rolled coil from suppliers in India remained steady week on week at $525-535 per tonne cfr, with market participants putting the workable price for India-origin HRC at around $520-525 per tonne, althoug...Read More
Novolipietsk Steel (NLMK) - the largest steel producer in Russia - will start the rolling mill modernization at its Belgian subsidiary NLMK Clabecq, the company said on Tuesday October 20.A ?,?30 million ($35 million) plate rolling mill upgrade will include the installation of a new descaling system with two new descalers and the modernization of the four-stand finishing mill, NLMK said.Despite th...Read More
The domestic United Arab Emirates rebar price fell again on Tuesday October 20 after deals concluded at lower levels, while the import price weakened amid a lack of construction demand. Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow steel...Read More
China's hot-rolled coil prices weakened on Tuesday October 20 amid thinner trading, with some buyers in wait-and-see mode on expectations of price declines due to a slowdown in the release of further stimulus by the Chinese government. Domestic Eastern China (Shanghai): 3,880-3,900 yuan ($580-583) per tonne, widening downward by 10 yuan per tonne A Shanghai-based trader said he garnered fewer deal...Read More
Rebar and wire rod producers from the Commonwealth of Independent States were in no hurry to make concessions to customers amid a number of positive factors in the market last week, sources told Fastmarkets.Market participants cited higher raw materials costs, comparatively higher prices from Turkish wire rod suppliers and consistently strong domestic demand for finished long steel products in som...Read More
Turkish steel mills have steered clear of the deep-sea scrap market for a second day this week, with no new bookings heard on Tuesday October 20.The day before, the market reported two bookings which had came to light from the previous week, at slightly higher prices, but no further cargoes were booked on Monday.One market participant was hopeful that prices would inch higher following a...Read More
Seaborne premium hard coking coal prices plummeted on Tuesday October 20 after market participants lowered their estimates and said the spot market was declining. Fastmarkets indices Premium hard coking coal, fob DBCT: $113.98 per tonne, down $3.90 per tonne Premium hard coking coal, cfr Jingtang: $126.78 per tonne, down $3.51 per tonne Hard coking coal, fob DBCT: $105.02 per to...Read More
Magna International (MG), a TSX 60 stock moved above $71.00 extending an intermediate uptrend. Pre-opening Comments for Tuesday October 20thU.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures responded to renewed hopes for a fiscal stimulus package.Index futures were virtually unchanged following release of September U...Read More
Seaborne iron ore prices were largely rangebound on Tuesday October 20 but the shortage of iron ore carajas (IOCJ) fines prompted strong trade, market sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $119.61 per tonne, up $0.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.05 per tonne, up $0.15 per tonne58% Fe fines high-grade premium, cfr Qingdao: $111.15 per tonne, up...Read More
A summary of BHP's operational review for metallurgical coal and iron ore for its financial first quarter ended September 30, 2020, released on Tuesday October 20. In brief BHP's group production rose 2% year on year, driven by solid results in metallurgical coal and iron ore. Its metallurgical coal guidance for its 2021 financial year remained unchanged, although the company would mon...Read More
Vale's iron ore production increased both year on year and quarter on quarter in the three months to September as a result of the resumption of previously halted operations in several mining sites, it said late on Monday October 19.The Brazilian mining major produced 88.68 million tonnes of iron ore in the third quarter, up by 2.3% from the 86.70 million tonnes produced a year earlier, and 31.2% h...Read More
China's domestic rebar prices lost their upward momentum on Tuesday October 20 due to pressure on sellers to draw down their inventories and a subdued futures market. DomesticEastern China (Shanghai): 3,710-3,740 yuan ($555-560) per tonne, unchangedSeveral trading companies are actively selling the rebar in their warehouses due to concerns over high production rates weighing on rebar prices.End-us...Read More
CEO to discuss the Company's recent acquisition and latest exploration project located in a premier and growing gold district in Idaho, the Challis Gold ProjectELKO, Nev., Oct. 20, 2020 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the "Company"), a gold exploration and development company, today announced that its Chief Executive Officer, Mr. Edward Karr is scheduled to present and conduct one...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...Read More
The cobalt alloy 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....Read More
Spot-market demand for cobalt metal has remained at minimal levels in recent weeks, leading market participants to question the level of discount that would be achievable in the forthcoming "mating season."Sellers confirmed on Monday October 19 that consumers continued to take any additional requirements of metal from long-term contracts, enjoying discounted prices arranged last year.This has left...Read More
A strengthening of the yuan against the dollar is resulting in higher export offers for Chinese minor metals and ferro-alloys while also making buyers in China more willing to pay higher for imports.Following a strong economic recovery in China after the turmoil caused by the Covid-19 pandemic, the Chinese currency hit a 17-month high against the dollar on Friday October 9 - the first working day...Read More
The price of magnesium in China rose in the week to Friday October 16, supported by active purchasing by exporters looking to secure material for month-end deliveries and rising production costs, market sources told Fastmarkets.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,300-12,400 yuan ($1,837-1,852) per tonne on October 16, an increase of 200 yuan per tonne (1.6%)...Read More
Shares in Petra Diamonds (LSE: PDL) nosedived after it said it had abandoned plans to sell the company or parts of its business, opting instead for a debt-for-equity restructuring.The struggling South African miner, with operations in its home country and Tanzania, said it had received no viable offers since June, when it put up the "for sale" sign.Petra, which piled up debt to expand its flagship...Read More