Several mining companies in the Democratic Republic of Congo (DRC) will join a meeting with the government next week to lobby for their right to continue selling copper concentrate overseas, Fastmarkets has learned. The meeting would take place in the DRC capital city of Kinshasa on August 20. "At least now the DRC government is willing to listen," a copper miner source said. Miners in the biggest...Read More

Aluminium producer Alcoa has reached an agreement with the workers' representatives for the San Cipri??n aluminium smelter in Spain to extend the deadline of the formal consultation period for collective dismissals to September 28, 2020, the company announced on Thursday August 13.The extension will include a process intended to evaluate a potential sale of the aluminium smelter to GFG Alliance, w...Read More

Aluminium producer Rusal said global primary aluminium demand was down 6.6% to 30.3 million tonnes in the first half of 2020, with Covid-19 lockdowns halting most economies globally throughout the period. Although it estimates there was a decrease in demand in most regions of the world, the producer sees room for a rebound in the second half of 2020, it said in its first-half earnings report publi...Read More

The London Metal Exchange has unveiled a package of sustainability proposals including new aluminium and steel scrap contracts, a spot trading platform and LMEpassport - a new digital register for physical metals data. The spot trading platform is focusing initially on aluminium but is open to other metals. The first stage of LMEpassport is targeting electronic certificates of analysis (CoAs) for...Read More

Brazilian imports of both flat and long steel products decreased year on year in July amid lower demand for imported material in the country and increased import prices.Imports of flat steel products totaled 78,953 tonnes during the month, down by 11.9% from the 89,595 tonnes a year earlier, according to figures from the Brazilian economy ministry.Imports of cold-rolled coil from China reache...Read More

Prices for steel reinforcing bar (rebar) in the United States held steady while domestic mills said overall market conditions will sustain satisfactory volumes with import purchases inhibited by overseas cost trends.Rebar traders reported some of the tightest margins in their careers, while export scrap costs discouraged Turkish rebar providers from offering more competitive prices. US market part...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesBMC board chairman Valery Kazikayev said the company had started "capital development including stripping of Udokan deposit in order to provide access to minable minerals from the surface".Read More

Domestic prices for hot-rolled coil in Northern Europe inched up day on day on Thursday August 13 and prices will continue to recover, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?417.84 ($491.51) per tonne on Thursday August 13, up by ?,?0.12 per tonne from ?,?417.27 per tonne on Wednesday.The index was also up by ?,?2...Read More

Imported billet and domestic rebar prices in Egypt rose in the week to Thursday August 13 because of increasing production costs and improved market sentiment compared with previous weeks. Global steel prices have been increasing because of higher feedstock costs. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $276.12 per tonne...Read More

Markets across the board were in consolidation mode this morning, Thursday August 13, with metals and Asian-Pacific equities mixed, while pre-market major western equity index futures were weaker.Traders seem to be waiting to see if US Congress can agree on a pandemic recovery fund and how the United States-China trade talks go this weekend when they review the phase one trade deal.* High volumes...Read More

Turkish billet prices have gone up over the past week in response to increasing imported scrap costs, sources said on Thursday August 13.Suppliers in the Commonwealth of Independent States (CIS) have raised their billet offers by around $5 per tonne to $420-425 per tonne cfr Turkey, however, customers in Turkey were still looking for prices below $410 per tonne, Fastmarkets was told.Therefore, Fas...Read More

Turkish domestic long steel prices have increased over the past week due to rising scrap costs, a weakening lira and firm market demand, sources said on Thursday August 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,810-3,870 lira (524-532) per tonne on Thursday, up from the last week's 3,670-3,770 lira per tonne ex-works, including 18% VAT.Lon...Read More

Cisco (CSCO), a Dow Jones Industrial Average stock moved below $43.30 completing a double top pattern. The company lowered fiscal first quarter guidance. Micron (MU), a NASDAQ 100 stock moved below $47.10 setting an intermediate downtrend.The stock was downgraded by Deutsche Bank from Buy to Hold. Target price was reduced from $48 to $40. Pre-opening Comments for Thursday August 13thU.S. equity in...Read More

A summary of Swedish state-owned iron-ore producer LKAB's financial results for the second quarter - April 1-June 30 - of 2020.In brief LKAB attributes its decreased earnings for the second-quarter period to lower prices for highly upgraded iron ore products.Fastmarkets's iron ore index for 62% Fe fines, cfr Qingdao averaged $93.52 per tonne in the second quarter 2020, down from $100.92 per tonne...Read More

Prices for mid-grades of iron ore went down on Thursday August 13 with the expectation of an easing of the cargo congestion at ports in China, sources have told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $121.38 per tonne, down by $0.13 per tonne.62% Fe low-alumina fines, cfr Qingdao: $120.55 per tonne, down by $0.45 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $...Read More

Prices for bulk cargoes of steel scrap imported to Bangladesh jumped over the last seven days following two fresh deals from the United States West Coast, sources told Fastmarkets on Thursday August 13.Market participants said that Bangladeshi mills have booked at least four bulk scrap cargoes over the last three weeks, with three different mills purchasing material.One deal was closed for 8,000 t...Read More

Seaborne coking coal prices declined across the board on Thursday August 13 except for premium hard coking coal in the fob market, where market sources said trading was relatively active. Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.99 per tonne, up $0.57 per tonne Premium hard coking coal, cfr Jingtang: $114.87 per tonne, down $0.99 per tonneHard coking coal, fob DBCT: $85.02 per t...Read More

Former Barrick Gold Executive with Proven Track Record as Mine Builder and OperatorELKO, Nev., Aug. 13, 2020 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the "Company"), a gold exploration and development company, is pleased to announce that Mr. George Bee has been appointed as President.Mr. Bee is a senior mining industry executive, with deep mine development and operational experience. He...Read More

China's domestic hot-rolled coil prices were largely stable on Thursday August 13, while overseas buyers have started to seek out cheaper position cargoes.DomesticEastern China (Shanghai): 4,040-4,060 yuan ($582-585) per tonne, widening upward by 10 yuan per tonneSeveral Shanghai-based traders said transaction prices of 4,040-4,050 yuan per tonne were the most dominant during the day, the same as...Read More

China's domestic rebar prices stopped dropping on Thursday August 13 on steady demand from the construction sector.Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($520-524) per tonne, unchangedA trader in Shanghai said his rebar sales volume during the day was the same as a day earlier, which kept him from lowering prices further.Market participants expect rebar demand to remain stable for th...Read More