Nornickel resumed operations at its Taimyrsky nickel and copper mine in Siberia on June 1, the world's second biggest nickel producer said on Friday June 4. Taimyrsky is now operating at about 40% of capacity, having been disabled by flooding since February 28, while a second affected mine, Oktyabrsky, resumed full production on May 13. "Water from the horizons of the Taimyrsky mine has been pumpe...Read More

Freeport-McMoRan, BHP Ventures, Mitsubishi and Orion Resource Partners have invested in a technology firm to extract copper from low-grade primary sulfide ores.The United States-based Jetti Resources has secured 50 million dollars in Series C funding from these four companies, it said on June 4. Jetti, formed in 2014, specializes in technology to enable the extraction of copper from tailing a...Read More

Tin operations at Malaysia Smelting Corp (MSC) will be shut until at least Wednesday June 9 amid a strict lockdown put in place in Malaysia following a surge in Covid-19 cases, according to two sources with direct knowledge of the matter.MSC has halted operations from June 3 until June 9 due to the lockdown measures imposed in the country until June 14. Multiple customers of the company confirmed...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationJetti has proven the effectiveness of its leaching processing technology commercially at Capstone Mining's Pinto Valley mine in Arizona, USA, helping the miner double copper cathode productionRead More

Prices for galvanized steel sheet in the United States strengthened to another all-time high, and cold-rolled coil held steady at a record, after buyers in dire need of restocking reported a persistent inability to procure spot material.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US was unchanged at $91 per hundredweight ($1,820 per short ton) on Thursday June 3. The...Read More

Hot-rolled coil prices in the United States surged above $82 per hundredweight for the first time on Friday June 4, with buyers predicting that vigorous demand will extend the rally, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $82.36 per cwt ($1,647.20 per ton) on June 4, up 1.39% from $81.23 per cwt the previous day and up 2.37% from $80....Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman exploration"Even with the copper price recently reaching an all-time high, for example, the incentive price to build greenfield (and some brownfield) projects is still above the current price in some cases asRead More

Look beyond market approach to project valuations: van ZylLeadershipGreat Panther Mining is a precious metals miner in the AmericasSPONSOREDgreat pantherStellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDThe latter is reportedly in the final throes of raising A$500-600 million for a portfolio that includes...Read More

South American flat-rolled steel import prices all recovered past $1,000 per tonne on Friday June 4 following a momentary tumble the previous week, with China raising offers for shipment in August and market participants expecting higher or stable prices from other regions as well.Firm negotiations for August-shipment orders were expected to take place in the coming week. Import prices saw a wides...Read More

Most flat steel prices in Turkey decreased during the week to Friday June 4 amid slightly weaker demand compared with previous weeks due to low-priced imports.The country's currency is also losing value,resulting in cautiousness in the market, sources told Fastmarkets. The Turkish lira was trading at 8.67 lira to $1 onFriday, compared with 8.27 lira to $1 on May 1, and 7.42 lira to $1 on January1...Read More

Indian steel mills have increased their domestic hot-rolled coil prices by 2,500-5,000 rupees ($34-68) per tonne for sales in June, bringing local prices closer to international HRC prices, Fastmarkets heard on Friday June 4.The price of steel HRC, domestic ex-whse India, was assessed by Fastmarkets at 68,500-70,500 rupees ($938-965) per tonne on Friday, compared with last week's assessment at...Read More

Index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.U.S. equity futures moved slightly higher following release of the May employment report at 8:30 AM EDT. May Non-farm Payrolls were expected to increase to 671,000 from upwardly revised 278,000 in April. Actual was 559,000. May Unemployment Rate was expected to slip to 5.9% from 6.1% in April. Actual...Read More

Market activity has been slow in the European hot-rolled coil market because buyers were holding back from new deals to monitor the situation in the global market and to wait for a decision in the regional safeguard measures case, sources told Fastmarkets on Friday June 4.Domestic prices have been supported by good order books at European steelmakers, however, and by limited access to overseas coi...Read More

Mexican light vehicle production reached 241,442 units in May 2021, according to figures released by national statistics agency, Inegi, on Friday June 4.That marks an increase of 956.08% from the 22,862 units produced in the same month a year before, when production was negatively affected by stoppages...Read More

The price of stainless steel scrap in the UK and Europe moved upward this week amid higher nickel costs and persistent short supply, Fastmarkets heard on Friday June 4.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, widened upward week on week to ?1,150-1,240 ($1,626-1,753) per tonne on Friday, compared with ?1,150-1,180 per tonne pre...Read More

Prices for inter-merchant light iron scrap in the United Kingdom were stable for the second consecutive week on Friday June 4, with suppliers maintaining their offer prices amid firm domestic demand despite some mixed signs in export markets, trade sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?170-180 ($240-...Read More

Prices of shredded steel scrap imported into India and Pakistan have rebounded over the past seven days on tight supply and improving appetite, following a dip the previous week, Fastmarkets heard on Friday June 4.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $509.50 per tonne on June 4, up from $509.04 per tonne on June 1, and up week on week from $495.42 per tonne...Read More

Turkish steel producers ended the week with no deep-sea scrap bookings amid limited finished steel demand, market participants told Fastmarkets on Friday June 4.The most recent deep-sea trade was done at the end of last week, when a steel mill in the Marmara region booked a United States cargo comprising heavy melting scrap 1&2 (80:20) at $503 per tonne and shredded scrap at $513 per tonne cfr.Dem...Read More

Iron ore prices fell on Friday June 4 amid uncertainty about local government policies in China. As a result, most market participants held back from trading activity to wait for further developments.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $207.35 per tonne, down by $3.64 per tonne62% Fe low-alumina fines, cfr Qingdao: $209.20 per tonne, down by $3.61 per tonne58% Fe fines high-grad...Read More

Most base metals stocks in Shanghai Futures Exchange-registered warehouses went down in the week to Friday June 4, with aluminium recording the largest drop in percentage terms. Aluminium stocks totaled 313,699 tonnes on Friday, down by 15,873 tonnes (4.8%) from 329,572 tonnes a week ago. The largest outflow was from HenanGuochu Gongyi warehouse in Henan province, where volumes were down by 8,050...Read More