Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliScrape around for some negative commentary, however, and you'll find those who fret about labour negotiations amid reports unions want a substantive pay rise to take account of the sky-high price ofRead More

Russia's Mikhailovsky HBI - the world ?s largest hot-briquetted iron (HBI) plant - should start operations in the first half of 2024, it said on March 2.USM Holdings and Mikhailovsky GOK - part of Metalloinvest, which is the largest global HBI producer and one of USM's assets - jointly own the plant.The plant will have capacity to produce more than 2 million tonnes per year of HBI, it said."The ne...Read More

Turkish steel mills stayed out of the deep-sea scrap markets again on Tuesday March 2, focusing instead on raising steel prices following the latest surge in scrap values, market sources told Fastmarkets.The latest transaction was recorded late on Friday February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20).The transaction raised the dai...Read More

Seaborne premium hard coking coal prices in both the fob and cfr markets remained largely stable on Tuesday March 2, with very little trading activity reported, market participants told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $127.76 per tonne, up $0.71 per tonnePremium hard coking coal, cfr Jingtang: $217.31 per tonne, down $0.50 per tonneHard coking coal, fob DBCT: $11...Read More

Iron ore prices moved up on Tuesday March 2 because of firmer prices for steel products, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $175.55 per tonne, up $1 per tonne62% Fe low-alumina fines, cfr Qingdao: $175.70 per tonne, up $0.74 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.92 per tonne, up $0.83 per tonne65% Fe Brazil-origin fines, cfr Qingd...Read More

Inner Mongolia will be the first region to start China's drive to reduce energy-hungry industrial projects such as coking coal from 2021 onward, a draft notice seen by Fastmarkets said.Coal processing plants in the province's Langkou Jinquan Industrial Park have already stopped production and are awaiting further notice from the government. Facilities received a verbal notification to shut for a m...Read More

U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 7 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US78.92 cents following release of Canada's GDP in December. Consensus was an increase of 0.3% versus a gain of 0.8% in November. Actual was an increase of 0.1%Zoon (ZM) advanced $32.34 to $442.00 after reporting higher than consensu...Read More

China's domestic rebar market stabilized on Tuesday March 2 following the issuance of higher list prices and a strengthening of futures contracts. DomesticEastern China (Shanghai): 4,610-4,650 yuan ($713-719) per tonne, unchangedShagang, a major rebar producer in eastern, China raised its ex-works prices for rebar by 150 yuan per tonne to 4,850 yuan per tonne including value-added tax. This prices...Read More

Base metals prices on the London Metal Exchange were in consolidation mode on Tuesday March 2, with tin declining slightly following a near 9% dive on Monday and nickel decreasing by 1%, amid a stronger US Dollar Index, which is at its highest since the first week of February.The three-month tin price increased to $23,520 per tonne at 9am on Tuesday, following its 8.6% slump at Monday's close to $...Read More

China's domestic hot-rolled coil prices rebounded on Tuesday March 2 amid recovering demand, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,840-4,860 yuan ($749-752) per tonne, up 20 yuan per tonneA Shanghai-based trader said trading activity picked up on Tuesday, which helped push prices upward.He said the company he works for was receiving a steady stream of orders - close to its d...Read More

Base metals prices on the London Metal Exchange were mixed this morning, Tuesday March 2, while on the Shanghai Futures Exchange they were mainly weaker.Manufacturing, as indicated by recent purchasing managers index data, has provided mixed signals - growth is slowing in China, but still recovering well in Europe and the United StatesBase metals LME three-month base metals prices were mixed this...Read More

The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More

China will actively promote the development of offshore wind power as part of its effort to build clean energy infrastructure across the country, according to a carbon neutrality action plan issued by State Grid Corporation of China on Monday March 1.In September, Chinese President Xi Jinping announced that China aims to reduce the country's carbon dioxide (CO2) emissions by more than 65% by 2030...Read More

Key data from Fastmarkets' pricing session in China on Friday February 26.Key drivers The spot cobalt metal price in China narrowed downward on February 26 after local futures prices softened and buyers were reluctant to accept higher offers, which caused sellers to...Read More

Chinese buyer interest in the overseas blister copper spot market shrank in February due to the increased availability of lower-cost substitute material - scrap and ingots - in the domestic market.Refining charges (RCs) for 98-99% blister copper, cif China, were assessed at $160-170 per tonne for February - rising due to the increasing availability of overseas blister copper compared with January...Read More

Chinese import prices for high-grade heavy scrap (HS) have continued to increase, with a transaction concluded for a 3,000-tonne HS cargo from South Korea this week, sources said on March 2.One bulk cargo was sold into China at $495 per tonne cfr and was purchased by a trader who has backing from a steel mill, sources said.Another transaction was heard at $490 per tonne cfr China for 3,000 tonnes...Read More

The first deals for the supply of aluminium ingot to main Japanese ports (MJP) for the second quarter have been concluded at a premium of $149 per tonne cif MJP, market sources told Fastmarkets on Tuesday March 2.The first deal - at a premium of $149 per tonne to the London Metal Exchange cash price - was concluded between a producer and a Japanese trader for 500-1,000 tonnes per month from April...Read More

Chinese buyers paid higher prices for nickel ore and nickel pig iron (NPI) last week amid tight supply and costlier freight. Prices for 1.5% nickel ore rose to new highs amid the uptrend.Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China at $78-81 per tonne last Friday February 26, up by $12-13 (18.7%) per tonne from $66-68 per tonne a week earlier. This is the highest...Read More

Fury Gold Mines (TSX: FURY; NYSE: FURY) has released assay results for the first five drillholes completed as part of a 25,000-metre program focused on expanding and upgrading the highest-grade lower eastern portion of the Eau Claire resource in the James Bay region in Quebec.Michael Henrichsen, Fury Gold's senior VP of exploration, said the latest results "meaningfully expand the high-grade resou...Read More