Rogesa, a joint subsidiary of German steelmakers Dillinger and Saarstahl, has installed new equipment which will result in reduced carbon emissions and additional energy generation, the company announced on Wednesday March 17.The new dedusting system for the circular cooler - a rotating belt on which the sinter cools - has been installed at sinter plant 3 of Rogesa Roheisengesellschaft Saar in Dil...Read More
Prices for steel scrap imported to Bangladesh remained on a downtrend over the last week amid a supply-demand imbalance in global markets, sources told Fastmarkets on Thursday March 18."The number of scrap cargoes available is currently higher than the number that markets such as Turkey are willing to buy. This means it's possible that United States sellers are under pressure to sell some material...Read More
The seaborne premium hard coking coal price in the fob market inched down amid a stable cfr market on Thursday March 18 because buyers in China were concerned about Mongolian coking coal exports to China, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.78 per tonne, down $1.65 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, unchangedHard coking coal, fo...Read More
The FOMC maintained its Fed Fund rate at 0.00-0.25% and projected no rate hike through 2023. Responses included the following:U.S. equity indices moved higherLong term bond prices initially moved lower, but closed unchangedThe U.S. Dollar and its related ETN moved lowerGold prices moved higherTechnical Notes for Wednesday March 17thPalladium ETN (PALL) moved above $236.33 resuming an intermediate...Read More
Iron ore prices increased slightly on Thursday March 18, after China announced that the emissions restrictions being imposed in Tangshan will be less strict than previously anticipated, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.62 per tonne, up $0.43 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.98 per tonne, up $0.71 per tonne58% Fe fines high-grade premium,...Read More
Atlas Commodities expects more ferrous scrap from the United Kingdom to be sold to China from now on."We expect demand for containerized scrap from China to grow significantly in coming months, underpinned by robust steel demand from the economic recovery in China," the commodity brokerage firm's chief executive officer Harry Seale told Fastmarkets on Thursday March 18.Atlas Commodities on Wednesd...Read More
Chinese market participants expect steel output to stay high in March amid a profit recovery, even after the government ordered mills in Tangshan to cut production for environmental protection, Fastmarkets heard.On March 11, Huang Runqiu, minister of ecology and environment, visited four mills in Tangshan - the steelmaking hub in northern China - and found all of them had been running at high oper...Read More
China's domestic hot-rolled coil prices edged up on Thursday March 18 but the market was inactive amid concerns over a possible export tax rebate cut.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($761-766) per tonne, up 10-20 yuan per tonneSeveral Shanghai-based trader said they raised their offers in response to rising futures, but found it hard to secure orders.One of the traders said some...Read More
The Federal Reserve sat idle on its hands today.And so the federal funds rate stays nailed to the floorboards. Monthly asset purchases will roll on at $120 billion the month.Markets feared that Mr. Powell and mates might telegraph hawkish hints today as growth - and inflation - bubble and percolate.But the reign of doves is extended yet again. Mr. Powell, today:Following a moderation in the pace o...Read More
China's domestic rebar prices increased on Thursday March 18 on falling spot inventory levels and a slight pick-up in demand following early-hour gains in the futures market.DomesticEastern China (Shanghai): 4,700-4,720 yuan ($724-727) per tonne, up 20 yuan per tonneRecovering end-user demand has resulted in Inventory levels in the spot market declining gradually this week, sources said.Mills' del...Read More
China's stainless steel market maintained its downward trend in the week to Wednesday March 17 amid pressure on sellers to reduce their inventories. Nickel prices failed to recover from the steep plunge at the start of this month, which kept sentiment bearish in the stainless steel market. The three-month nickel contract on the London Metal Exchange ended the official session on Wednesday at $16,0...Read More
Key data from Fastmarkets' pricing session in London on Thursday March 18.Key drivers Cobalt prices continue to move lower. Some sellers were open to lower bids and were happy to take profit on units bought earlier in the year, when prices were significantly lower. The price for cobalt, standard grade, in-whs Rotterdam, began 2021 at $15.30-15.90 per lb, with the alloy-grade price at...Read More
Manganese flake prices in Europe climbed in the first half of the week to Wednesday March 17 after most producers in China said that they would suspend their operations until the end of April, market sources told Fastmarkets.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 2.8% on March 17 to $2,630-2,800 per tonne from the March 12 assessm...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, $/lb at 24.40-25.40...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 Cobalt alloy grade, in-whs Rotterdam, $/lb...Read More
Key data from the pricing session in London on Wednesday March 18.Key drivers Prices in Europe were supported amid prompt material tightness after some delays to deliveries and logistical disruptions. There was an uptick in activity over the last two weeks, with increasing interest from traders in Europe and the United States but also some Chinese traders approaching the European market looking fo...Read More
Battery recycling start-up Li-Cycle sees the commercial production achieved at its Rochester, New York, plant as the start of something big.The plant, which achieved commercial production last December, has dthe capacity to process 5,000 tonnes of end-of-life lithium-ion batteries per year, doubling overall intake for the Canadian company, which is the first of its kind to use hydrometallurgy for...Read More
With a feasibility study underway for its McIlvenna Bay copper-zinc project in eastern Saskatchewan, developer Foran Mining (TSXV: FOM) has released assay results for two infill holes. The holes were drilled as part of a 30,000-metre program and are expected to "positively impact" existing resources by growing the indicated inventory.Drillholes MB-21-231a returned a 16.4-metre mineralized interval...Read More
With an updated resource for its past-producing zinc-silver-gold-copper South Mountain project expected in April, BeMetals (TSXV: BMET) has also started a preliminary economic assessment (PEA), which is scheduled for completion by September."These studies are part of the critical path towards advancing South Mountain to a potential mine construction decision stage given continued positive results,...Read More
Radisson Mining Resources (TSXV: RDS; US-OTC: RMRDF) has encountered more high-grade mineralization during a resource expansion drill program at its O'Brien gold project in northwestern Quebec, about halfway between the towns of Rouyn-Noranda and Val d'Or.Highlights included 57.48 grams gold per tonne over 2.80 metres starting from 848.80 metres downhole, including 196 grams gold per tonne over 0....Read More