Domestic prices for ferrous scrap in Italy moved down slightly in the month to Tuesday August 11, with demand for the raw material reduced by scheduled maintenance outages during the month.Most Italian steel producers stopped production for summer maintenance work in August, but some have changed their schedules this year and planned shorter stoppages with demand recovering from the Covid-19-relat...Read More
Zinc premiums in Singapore and Malaysia have dropped to their lowest annual level - and since Fastmarkets began assessing the market - while stocks begin to pile up in regional warehouses, trading sources said.Fastmarkets assessed the zinc SHG 99.995% ingot premium, fca Singapore at $85-95 per tonne on Tuesday August 11, down from $90-100 per tonne the week previously and $100-110 per tonne at the...Read More
The three-month copper price on the London Metal Exchange was slightly lower during morning trading on Tuesday August 11, after failing to close above the psychological level of $6,400 per tonne on Monday, while the forward curve has tightened over the day. Copper's outright price on the LME was recently trading at $6,371.50 per tonne, 0.4% lower than Monday's closing price of $6,396.50 per tonne....Read More
The dip in base metals prices at the end of last week was a one-day wonder for copper and aluminium after prices for both metals rebounded yesterday, while consolidation has set in again this morning, Tuesday August 11, and the other metals continue to consolidate too.Asian-Pacific equities and pre-market western equity index futures were upbeat this morning. But gold prices are down by 0.9% at $2...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company said it was the first drill programme made possible in nearly 20 years at Warintza, where the Equinox Gold spin-out is aiming to expand the Warintza Central zone, discovered by the late David Lowell in 2000. The first hole returned 567m from 1m, grading 0.8% copper, 0.04% molybdenum and 0.1g/t gold.Artemis all set...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe project was suspended in mid-March as a preventative measure in the face of the COVID-19 pandemic. Teck vice president Amparo Cornejo told a Chilean mining forum on Monday the company was working closely with local authorities and hoped to reach full staffing levels at the project within three months, Reuters reported.Arte...Read More
Improving end-market demand has pushed the price of hot-rolled coil in the United States back above $23 per hundredweight, Fastmarkets has learned. Fastmarkets' daily hot-rolled coil index, fob mill US was calculated at $23.08 per hundredweight ($461.60 per ton) on Tuesday August 11, an increase of 0.9% from $22.87 on Monday August 10 and up 1.9% from $22.64 per cwt one...Read More
88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Element 25's Butcherbird on songSPONSOREDelement 25Lithium no quiet place for AVZSPONSOREDavz mineralsThe Reno, Nevada-based company was formed in April last year with a view to creating value in the near term by leveraging its packag...Read More
Following a consultation period, Fastmarkets will change the publication time of its Latin American steel price assessments to Friday, 2-3pm New York time, from 2-3pm London time, with effect from Friday August 14. The prices subject to the change are: MB-STE-0102 - Steel hot-rolled coil import, cfr main ports South America, $/tonne MB-STE-0133 - Steel hot-rolled coil (dry) export, fob m...Read More
The export market for flat steel products from the Commonwealth of Independent States rose over the week to Monday August 10 in line with Russian suppliers testing the market with higher offers, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $460-480 per tonne on Monday, up from $435-445 per tonne a week before.Russian supplier...Read More
The prices paid for steel rebar and billet in the United Arab Emirates continued to increase this week, although buying was moderate, market sources said on Tuesday August 11.Domestic rebarThe country's rebar producers were still offering the product at 1,770-1,773 dirhams ($482-483) per tonne ex-works for August-production orders, Fastmarkets understandsLocal producers are due to announce new reb...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday August 11, due to the normal seasonal demand slowdown.But steelmakers insisted on higher offers, and deal prices were likely to rise in September, when market activity traditionally revives after the summer lull.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculate...Read More
The dip in base metals prices at the end of last week was a one-day wonder for copper and aluminium after prices for both metals rebounded yesterday, while consolidation has set in again this morning, Tuesday August 11, and the other metals continue to consolidate too.* Asian-Pacific equities and pre-market western equity index futures were upbeat this morning.* But gold prices are down by 0.9% at...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase over the past seven days, with demand better than last week, when market participants were just returning from the Eid al-Adha religious holiday, sources told Fastmarkets on Tuesday August 11.Some deals were heard for re-stocking purposes, and buyers said that more price increases were expected because of g...Read More
Offers for steel slab from the Commonwealth of Independent States (CIS) surged in the week to Monday August 10 amid supportive market fundamentals, sources said.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $425-430 per tonne on Monday, up from $400-405 per tonne a week earlier.One of the reasons for higher prices was the reduced availability of material amid...Read More
U.S. Telecom iShares (IYZ) moved above $29.58 extending an intermediate uptrend.Auto ETF (CARZ) moved above $36.03 extending an intermediate uptrend.Emerson (EMR) an S&P 100 stock moved above $69.40 extending an intermediate uptrend.Union Pacific (UNP), an S&P 100 stock moved above $187.83 to an all-time high extending an intermediate uptrend.Manulife Financial (MFC), a TSX 60 stock moved...Read More
Turkish steel producers have slowed down their deep-sea scrap purchasing, after the domestic long steel market was affected by the weakening of the country's lira, sources said on Tuesday August 11.Mills in Turkey booked a number of cargoes last week, with the most recent transactions for material from the US and Baltic Sea at $285 per tonne cfr for HMS 1&2 (80:20).But the mills then paused their...Read More
China is turning to mergers, acquisitions and mine shutdowns to maintain its drive toward energy reform and the use of fewer fossil fuel resources.Shanxi is the country's second-largest coal-producing province. It plans to shut down 32 coal mines with total capacity for 20.74 million tonnes per year in 2020, as part of the country's drive to reduce pollution and overcapacity in the coal sector.The...Read More
Seaborne premium hard coking coal prices were relatively flat on Tuesday August 11 due to a lack of transactions, but the premium mid-volatility hard coking coal price was under pressure, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.51 per tonne, down $0.05 per tonne Premium hard coking coal, cfr Jingtang: $115.84 per tonne, down $0.04 per tonneHard coking coal, fob DBC...Read More
Seaborne iron ore prices rose on Tuesday August 11, with supply concerns developing because the Chinese government may extend the processing time for import licenses, while the high price for mid-grade fines has pushed mills to adjust their brand usage.Fastmarkets iron ore indices(Comparisons with August 7 due to National Day holiday in Singapore on August 10.)62% Fe fines, cfr Qingdao: $121.09 pe...Read More