Previously, I have shown how  there were virtually no significant Silverrallies over the last 50 years during a period when the US Dollar index hasbeen rising.Betting on a silver rally when the US Dollarindex is in decline makes for great odds. There have been two significantSilver rallies in the last 50 years (marked out with rectangles on the chartbelow). During both of these, the US dollar...Read More

European stainless steel prices have remained stable over the past week due to the seasonal demand slowdown, sources told Fastmarkets on Friday August 7.Fastmarkets' assessment of the price for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?1,900-1,950 ($2,254-2,314) per tonne on August 7, unchanged week on week.The assessment was...Read More

European domestic prices for stainless steel scrap have increased over the past week, supported by the higher cost of nickel, sources told Fastmarkets on Friday August 7.Fastmarkets' weekly price assessment for stainless steel scrap, 18/8 solids, domestic, delivered merchants UK, was ?850-880 ($1,118-1,157) per tonne on Friday, up by ?10 per tonne from ?840-870 per tonne on July 31.The assessme...Read More

Secondary aluminium scrap prices in the United States rose week on week amid a slight uptick in business and some pricing pressure from exports, although consumers were still being cautious. "We are buying what we need," one consumer said. "[We] don't want to build the scrap inventory."Fastmarkets assessed the aluminium scrap turnings clean dry high grade buying price, delivered to Midwest seconda...Read More

The three-month copper price on the London Metal Exchange was the laggard at the close of trading on Friday August 7, with news of planned restarts at several of Chilean producer Codelco's operating facilities suppressing buying momentum.Meanwhile, lead futures declined by more than 2% but stayed above nearby support levels into the close.Copper's outright price on the LME closed at $6,308 per ton...Read More

Higher spot transaction volumes for copper concentrates were reported with Chinese smelters starting to procure for fourth quarter production and pressuring processing charges to a new low this week. Higher transaction volumes were reported in  the spot market for copper concentrates with Chinese smelters starting to procure for fourth quarter production, pressuring processing charges to a ne...Read More

The return of Section 232 tariffs on imports of Canadian aluminium has made European market participants nervous of excess stock arriving from Canada, which could pressure premiums, Fastmarkets heard on Friday August 7.United States President Donald Trump announced on Thursday August 6 that the US will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada - set...Read More

An overview of the battery raw materials markets and their latest price moves.Read More

Joshua Olmsted, currently senior vice president, will take the role of president and chief operating officer for the Americas region at Freeport-McMoRan on September 1 this year, when Harry Conger retires, the company said on Friday August 7. Working for Freeport for 28 years, Olmsted has been senior vice president for the North American copper division since late 2015. He previously took manageri...Read More

The world's largest copper producer, Codelco, has outlined plans to restart select operations across its production portfolio, detailing a resumption of operations at its Chuquicamata Subterr??nea underground mine, while plans to restart its El Teniente operations are set to be revealed in the coming weeks. Underground operations at its Chuquicamata mine will resume as early as next week, Codelco...Read More

US hot-rolled coil prices continue to hold steady just under $23 per hundredweight ($460 per ton) thanks to stronger-than-expected August scrap prices and despite fears of a potential fourth-quarter price drop.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.89 per hundredweight on Friday August 7, little changed from $22.90 per cwt on Wednesday and up by 1.6% from...Read More

The price of most flat-rolled steel products imported into South America rose during the week to Friday August 7 after mills around the world engaged in successive increases and clients rushed to close deals, market participants said.The demand recovery from the drought following restrictions to curb the Covid-19 spread since April as well as rising raw material and semi-finished steel costs suppo...Read More

Turkish prices in the domestic market for hot-dipped galvanized coil (HDG) and color-coated coil increased in the week to Friday August 7 due to higher feedstock prices and strong demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Turkey was $660-665 per tonne on August 7, rising from $610-625 per tonne on July 31.Turkish producers were heard offerin...Read More

The prices for both hot-rolled coil and cold-rolled coil in Turkey increased over the week to Friday August 7, with market sources not expecting any price decreases any time soon, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey was $500-505 per tonne on August 7, rising from $450-460 per tonne on July 31.HRC producers were heard to be offering HRC...Read More

Offers of steel billet to foreign customers from the Commonwealth of Independent States (CIS) region had gone up by the end of this week following the continuing uptrend in the scrap sector, Fastmarkets heard on Friday August 7.But trading activity was limited, even though some customers accepted the higher prices.Fastmarkets' steel billet index, export, fob Black Sea, CIS, was $404 per tonne on A...Read More

Indian steel mills increased their hot-rolled coil export prices by about $20-25 per tonne in the week ended Friday August 7 on strong domestic demand and a surge in local HRC prices.The price of steel hot-rolled coil (commodity), export, fob main port India, was assessed by Fastmarkets at $485-500 per tonne on Friday, up by $20-25 per tonne from last week's assessment at $465-475 per...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesAnglo American operated Collahuasi saw a 26.8% increase to 323,000t while the BHP-operated Escondida mine posted a 5.1% increase to 599,000t and state copper company Codelco saw output increase 3.Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesOk Tedi says these are the first positive cases recorded in Tabubil, and occurred despite the mine implementing a shutdown of all charter flights into and from Tabubil on July 28.Of the seven cases, only one person has exhibited flu like symptoms. The other six people are currently asymptomatic. All seven cases are in isolation at...Read More

Sentiment in the Northern European hot-rolled coil market has remained bullish despite low trading activity, sources told Fastmarkets on Friday August 7.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?413.46 ($490.59) per tonne on Friday, down by ?,?1.54 per tonne day on day from ?,?415.00 per tonne on Thursday.Friday's index was based on "workab...Read More

88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyLithium no quiet place for AVZSPONSOREDavz mineralsScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Element 25's Butcherbird on songSPONSOREDelement 25The company's revised production plan for 2020 was aimed at cutting spending near-term amid COVID-19 and other uncertainties while m...Read More