The stainless steel scrap market in the United States firmed over the past week, with prices narrowing or strengthening across the board amid robust demand and continued tight supply."We are going to be cautious adjusting our buying prices to the upside until we get a feeling of how the processors are going to respond to the current market conditions," one dealer said.The intrinsic values for stai...Read More

Prices of lead scrap items in the Unites States did not display any significant week-on-week change, with the market trading in a narrow range amid limited spot activity.But price ranges widened upward on several assessments in response to volatility on the London Metal Exchange lead contract, rising freight costs and physical supply constraints."Smelters are running at capacity, and imports...Read More

RAPAPORT... India is experiencing a shortage of diamonds as rough supply has dropped and polished goods remain stuck at the Gemological Institute of America (GIA).Traders are struggling to source rough, and face rising prices when buying from miners and at tenders, Indian manufacturers told Rapaport News this week. This has made it hard to meet strong demand from the US and China."[Buying] ro...Read More

Major non-ferrous scrap products such as insulated copper wire (ICW) and zorba will not be able to enter Malaysia under a newly proposed import guideline, an industry body said at the Bureau of International Recycling (BIR) Convention 2021 on Wednesday June 2."Existing secondary investment will go down the drain if this guideline comes into force," Eric Tan, president of the Malaysia Non-Ferrous M...Read More

Chilean copper output fell 1.98% in April, compared to the same month of 2020, due to volume decreases from major producers like Codelco, Escondida and Los Pelambres, according to data published by the country's copper commission, Cochilco, on Wednesday June 2.The country produced 461,200 tonnes of copper in April, down from 470,500 tonnes a year before. Production also fell 5.63% from 488,700 ton...Read More

(IDEX Online) - Banks that lost money in a $770m gold and diamonds loan scam in India in 2013 have won a legal victory in their bid to trace the missing cash.A British judge yesterday restored four UK shell companies suspected of having laundered money lent to Indian-based Winsome Diamonds.The move may enable Standard Chartered Bank and other lenders to trace the assets of an Indian gold and diamo...Read More

(IDEX Online) - Hundreds of traders crowded the Israel Diamond Exchange (IDE) for the first Blue and White fair since lockdown restrictions were imposed more than a year ago.Among the 50 industry leaders exhibiting on the trading hall at Ramat Gan were Tache, Lili Diamonds, S. Schnitzer and Andre Messika.Almost all coronavirus restrictions have now been lifted in Israel after a vaccination program...Read More

Nickel premiums in the US rose while premiums in Europe and Asia were stable, sources told Fastmarkets.US briquette premium rises 9%Demand continues to bolster European premiumClosed arbitrage in Asia keeps premium flatStrong fundamentals boost seaborne sulfate premiumPremiums rise as higher offers gain traction Nickel premiums in the United States rose, with the premium for nickel briquette up by...Read More

Hot-rolled coil prices in the United States remained supported by lean supply and robust demand, with Fastmarkets' daily HRC index once again inching closer to the $81-per-hundredweight ($1,620-per-short-ton) mark.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $80.63 per cwt ($1,612.60 per ton) on Wednesday June 2, up by 0.69% from $80.08 per cwt on Tuesday June 1 bu...Read More

Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.Market participants did not expect any price decreases, though. Steel prices in China did decrease from April until May 27, but they then started to rise again.Hot-rolled coil export pric...Read More

Prices for steel hollow sections in Europe rose on Wednesday June 2 after a rise in demand led to mills struggling to keep up, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,614-1,638) per tonne on June 2, up from ?,?1,250-1,320 per tonne on May 26.Hollow section producers had less material to offer cust...Read More

European steel H-beam prices moved up again on Wednesday June 2, with producers achieving continuous price increases with little resistance from customers, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?940-970 ($1,149-1,186) per tonne on Wednesday, up from ?,?900-920 per tonne one week earlier. Some mills have steppe...Read More

Iranian billet producers turned quiet in the week to Wednesday June 2, waiting for a clearer trend after the recovery of billet and rebar prices in the domestic market in China - one of the key destinations for semi-finished steel from Iran.Last week, domestic billet prices in China dropped to 4,780 yuan ($749.36) per tonne on Friday, down by 140 yuan ($21.95) per tonne since the start of last wee...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe two companies have enjoyed a fractious relationship in recent years with differing opinions on the strategy to advance Cascabel.Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe company reported an intercept of 28.7m of continuous mineralisation grading 2.05% copper equivalent in both the massive sulphide lens and the underlying copper stockwork zone (CSZ).Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum.* Brent crude oil is back above $70 per barrel, the highest it has been for two years. * Tuesday’s manufacturing purchasing managers’ index (PMI) d...Read More

A Bangladeshi mill has returned to the United States deep-sea ferrous scrap market to secure two cargoes from separate shippers at a $70-per-tonne increase compared with the last-reported sale to the region.A West Coast exporter sold a cargo to Bangladesh comprising 7,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap priced at $535 per tonne cfr and 25,000 tonnes of shredded scrap pric...Read More

Turkish steel mills remained largely silent in the deep-sea scrap import markets due to continued sluggish finished steel demand in both domestic and export outlets, market participants told Fastmarkets on Wednesday June 2. Turkish steelmakers have been focusing on finished steel sales in the recent weeks in lieu of demand in Asia, while customers in the domestic market have been struggling with h...Read More

A large gap between bids and offers ensured that only limited business took place in the Japan steel scrap export market over the past week, sources said on Wednesday June 2.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?46,000-48,000 ($420-438) per tonne on Wednesday, down from ?47,000-48,500 per tonne one week earlier.Japanese H2 was heard sold to a South K...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationWhile the bill enjoyed widespread support among opposition parties, senator Isabel Allende of the Socialist party voted against its implementation along with two other opposition senators on theRead More