Vale's head of base metals said he is "hopeful" a positive decision will be reached in two days for the sale of nickel-cobalt operation Vale New Caledonia (VNC) on Wednesday December 2.The Brazilian multi-metal miner entered into a 30-day exclusivity agreement to discuss the sale of VNC with a consortium comprising current management and employees of the unit, as well as state investors and S...Read More
Genesis opens new chapter at UlyssesSPONSOREDgenesis minerals'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningPantoro bullish on bigger production profileSPONSOREDpantoro limitedOceanaGold commits to net zero emissions by 2050SPONSOREDoceanagold"We will take a significant proportion of the time allotted to us to complete an exhaustive review of the administra...Read More
Gary Nagle will become the new chief executive officer of Glencore when Ivan Glasenberg retires during the first half of 2021, the company said on Friday December 4. Nagle is currently global head of Glencore's coal industrial business based out of Sydney Australia, and will return to Switzerland to begin a transition to the new role.After 18 years as Glencore CEO, Glasenberg will step down f...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The Copper Mountain mine will be the official trolley assist test site of mining equipment provider Komatsu, with a trial due to commence in mid-2021.Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.That came through in Tuesday's market when Sandfire gave the go-ahead for a $371 million development of T3 on the emerging Kalahari copper belt.Read More
Global nickel premiums were flat week on week, with the absence of an open arbitrage in Shanghai and market participants focused on 2021 negotiations rather than the spot market in Europe, sources told Fastmarkets.A lack of a profitable arb in Shanghai keeps refined nickel premiums unchanged; nickel pig iron (NPI) prices continue dropPremiums in Europe are flat despite an increased interest for ma...Read More
Copper led the way in a morning of gains on the London Metal Exchange on Friday December 4, rising to a seven-year high again and taking the rest of the complex higher after a day of slight losses on Thursday.The red metal's three-month price rose by 1.2% to $7,767 per tonne on Friday at 9am, a new year-to-date high and surpassing the previous 2020 high of $7,743 per tonne.Copper's price is now cl...Read More
Turkish steelmaker Tosyali Iron and Steel has ordered a quantum electric arc furnace and continuous slab caster from Primetals Technologies, Primetals said on Thursday December 3.The quantum EAF is able to produce 2 million tonnes per year of liquid steel and "can be operated with a mixture of scrap of varying composition, and hot briquetted iron and pig iron," Primetals said.The slab caster is tw...Read More
The publication of Fastmarkets' CIS billet export index for Friday December 4 has been delayed because of a reporter error in setting the publishing time. Rather than the scheduled time of 16.00 UK, the index will be published at 18.00 UK time.The Fastmarkets price book and database for the steel billet index, export, fob Black Sea, CIS, will both be updated at that time.For more information, or t...Read More
Indian hot rolled coil export prices have surged by $105 per tonne in the week to Friday December 4 on bookings from Europe, market participants told Fastmarkets.Fastmarkets assessed the price of steel hot-rolled coil export, fob main port India at $665-670 per tonne on Friday, up by $105 per tonne from last week's $560-565 per tonne fob.The latest HRC export booking to Europe was for a small parc...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil (pre-painted galvanized iron or PPGI) continued their uptrend in the week to Friday December 4 on strong demand, sources told Fastmarkets. The price of hot-rolled coil in Turkey, the base product for coated coil, rose by 4.5% week on week, lending additional support to the coated flat steel prices. Fastmarkets' weekly price...Read More
Simon Properties (SPG), an S&P 100 stock moved above $91.96 resuming an intermediate uptrend.Pre-opening Comments for Friday December 4thU.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for November Non-farm Payrolls was a drop to 469...Read More
The import market for pig iron in the United States was strong in the week to Friday December 4, due to continuing robust demand, sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $455-465 per tonne on Friday, up from $450 per tonne a week earlier.Earlier in the week, a US buyer purchased a cargo from Ukraine at $455 per...Read More
The prices of alloy steel scrap in the UK domestic market were largely unchanged this week despite lower nickel costs, because tight supply continued to provide pricing support, sources told Fastmarkets on Friday November 4.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, on Friday was ?950-980 ($1,276-1,316) per tonne, narrowing downwa...Read More
The price of shredded steel scrap imported into India and Pakistan increased on Friday December 4, due to continuing shipping issues and despite uncertainty over higher prices, sources have told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $380.65 per tonne on Friday, up from $365.18 per tonne one week earlier.Only one deal was report...Read More
An acute shortage of containers and new rule changes by container lines have combined over the past week to again raise containerized shipping costs for commodity market participants.Trading sources told Fastmarkets that container lines have not only continued to raise freight rates but have also introduced additional measures that will serve to make life increasingly difficult for companies invol...Read More
The British light iron market was stable over the week to Friday December 4, consolidating a steady run of gains through November ahead of expected increases in domestic delivery settlements for December, trade sources told Fastmarkets.There have been persistently stronger prices in inter-merchant trading for grade 5C scrap in the past few weeks, with major processors competing for tighter scrapfl...Read More
Fastmarkets' Ferrous Analytics report helps 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.Read More
Iron ore prices surged further on Friday December 4, supported by active long positions in futures markets and steady drawdowns in port inventory, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $145.01 per tonne, up $7.93 per tonne 62% Fe low-alumina fines, cfr Qingdao: $144.36 per tonne, up $7.38 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $132.83 pe...Read More
Seaborne coking coal prices fluctuated across the board in the fob market on Friday December 4 due to the latest changes in supply, while the cfr market was flat.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.62 per tonne, down $0.46 per tonnePremium hard coking coal, cfr Jingtang: $168.78 per tonne, unchangedHard coking coal, fob DBCT: $92.97 per tonne, up $2.17 per tonneHard coking...Read More