Flat-rolled steel import prices in the United Arab Emirates and Saudi Arabia increased further during the week ended Tuesday May 18, but demand has yet to improve due to limited market activity after the Eid Al-Fitr holiday, sources told Fastmarkets.The Eid holidays ended on May 17 and stock levels are low in the countries, so buying is likely to improve soon, sources added.Saudi ArabiaHot-rolled...Read More

Sentiment in the CIS steel billet export market cooled down somewhat after a sharp drop in demand from China, sources told Fastmarkets on Tuesday May 18.Falling rebar futures prices resulted in significant cuts in spot rebar prices in the domestic market in China, which in turn led to reduced interest in imported billet, thereby pushing down offer prices. China had been the major buyer of CIS stee...Read More

Steel billet and rebar prices increased sharply in the United Arab Emirates during the week ending Tuesday May 18 due to very good demand after the Eid al-Fitr holiday ending earlier in the week, sources told Fastmarkets. "Contractors are buying more steel, expecting big price increases," one trader told Fastmarkets. The country's biggest producer, Emirates Steel, announced its rebar price at 3,06...Read More

The Commonwealth of Independent States' flat-rolled steel export market increased again during the week to Monday May 17 due to strong demand.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $1,055-1,075 per tonne on May 17, up by 2.65% from $1,020-1,055 per tonne a week earlier.Amid strong local market demand, the price in Turkey rose to $1,070-...Read More

Stellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDCopper supply struggling to match forecast demandSPONSOREDSaturn still shooting for the stars at Apollo HillSPONSOREDsaturn metalsEstablished parties lost out in local elections over the weekend to independent and left-leaning candidates, with capital Sant...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationRio Tinto agreed to purchase 11.8 million shares in the junior at C$2.17 per share, a 15% premium, to take an 8% stake in the company. Western will use the proceeds to fund feasibility study and permitting work at Casino and will remain the operator.The investment will allow Rio to have one member on the Casi...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationReporting initial results from the first 11 holes of its 16,500m 2021 drilling campaign, the company reported a highlight of 5.5m grading 3.46% copper, 0.25 grams per tonne gold and 8.Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.* Inflation concerns remain elevated, US treasury yields and gold firmer* United States Federal Reserve officials stick to their view that inflationary pressures w...Read More

Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipStellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDThe deposit has an indicated resource of 1.96 million tonnes grading 1.31% copper, 1.44 grams per tonne gold and 27.1g/t silver for 2....Read More

Turkish steelmakers remained quiet in the seaborne scrap market on the second working day of the week amid holiday and lockdown periods, market sources told Fastmarkets on Tuesday May 18.The country observed the post-Ramadan religious holiday, Eid al-Fitr from May 12 and ended during the country's full lockdown between April 29 and May 16 put in place in an attempt to halt a third wave of Covid-19...Read More

German steelmakers settled monthly contracts in May for steel scrap at higher prices due to tight supply as well as the rising price trend in the international market, sources told Fastmarkets. Availability of new scrap, included E8-grade, has been constrained by stoppages in the automotive segment, which in turn have been caused by a shortage of semiconductors , market participants said. Car manu...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Equity index futures were virtually unchanged following release of April U.S. Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.710 million units from 1.759 million units in March. Actual was 1.569 million units.Home Depot advanced $7.62 to $327.63 after reporting higher than conse...Read More

Seaborne iron ore prices were up across the board on Tuesday May 18, supported by falling stock levels at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $224.44 per tonne, up $6.67 per tonne 62% Fe low-alumina fines, cfr Qingdao: $227.77 per tonne, up $6.97 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $192.70 per tonne, up $6.05 per tonne 65% Fe Brazil-origin fin...Read More

Seaborne premium hard coking coal price surged in the fob market on rising activity, but cfr prices were largely stable on Tuesday on May 18, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $123.63 per tonne, up $2.84 per tonnePremium hard coking coal, cfr Jingtang: $273.15 per tonne, down $0.80 per tonneHard coking coal, fob DBCT: $107.96 per tonne, down $2...Read More

China's hot-rolled coil prices rebounded on Tuesday May 18 amid news of fresh restrictions in the country's Tangshan region, its steel production hub.DomesticEastern China (Shanghai): 6,100-6,120 yuan ($947-950) per tonne, up by 70-100 yuan per tonneTangshan's municipal government has ordered steel mills to suspend their sinter equipment for the first 10 hours from midnight from Tuesday until Thur...Read More

China's will strengthen the exploration and development of its domestic iron ore resources and work to ensure that steel capacity cuts are fully observed, according to it economic planner. "Domestically, we will intensify the exploration and development of iron ore resources, accelerate the construction of new and ongoing iron ore projects, and improve consumption of recycled iron-steel materials,...Read More

You can't have it both ways, but that doesn't mean you can't try. That's what Joe Biden is doing right now.On the one hand, Biden policies are, at least, partly responsible for the recent rise in unemployment and might be largely responsible.They're also responsible for the inability of employers to hire employees so they can reopen their businesses and return to full capacity. If that sounds like...Read More

The zinc price set a new year-to-date high in the morning of Tuesday May 18 on the London Metal Exchange, with worries about the recent political developments in Peru creeping into investor sentiment, while a dollar at its weakest since the end of February pushed most metals prices up too. Zinc's three-month price reached $3,108.50 per tonne on Tuesday during early trading, the most since June 15,...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.Inflation concerns remain elevated, US treasury yields and gold firmerUnited States Federal Reserve officials stick to their view that inflationary pressures will...Read More

Ferroglobe PLC halved its losses quarter on quarter due to higher prices for silicon metal and alloys and manganese alloys in the first quarter ended March 31, according to results released on Tuesday May 18. It was, however, the 13th quarterly loss in a row for the western world's biggest producer of silicon.Higher staffing costs related to the company's ongoing restructuring, including effo...Read More