Imported steel billet prices in Egypt fell in the week to Thursday, August 19, but demand failed to improve, sources told Fastmarkets.Demand for billet imports, however, was weak because of limited demand for the end product, rebar.The Egyptian government ended the ban on construction on July 1.However, rebar demand remained low in Egypt during the week because of decreasing global...Read More
Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on Thursday August 19.Plans include potentially installing an iron ore briquetting plant at Ternium Brasil, the steelmakers' slab mill in Brazil's southeastern state of Rio de Janeiro. Ot...Read More
Tata Steel India has commissioned its first steel recycling plant in Rohtak, Haryana, the company announced on August 18, providing a boost to the Indian domestic scrap industry.The plant will have a capacity of 500,000 tonnes per year and will be set up at Rohtak, Haryana. It is being built in partnership with Aarti Green Tech, a subsidiary of Aarti Steel, as a 'Build, Own, Operate' (BOO) partner...Read More
Iron ore prices continued to fall on Thursday August 19, with sentiment turning negative due to the bearish demand outlook, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $132.66 per tonne,down $20.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.30 per tonne,down $20.77 per tonne58% Fe fines high-grade premium, cfr Qingdao: $103.46 per tonne,down $20.02 per tonne65% F...Read More
A month-on-month drop in the Kanto Tetsugen auction and a price cut by major mill Tokyo Steel on Thursday August 19 has increased pessimism in the Japan steel scrap market, sources said.Japan's Kanto tender closed at a fall of $11 per tonne month on monthBearish sentiment in Chinese steel markets weighed on scrap import pricesTaiwan imported containerized scrap price stableJapanJapan's Kanto...Read More
Seaborne coking coal prices inched higher in the cfr China market amid positive market sentiment, while fob Austrialia prices remained largely unchanged, sources told Fastmarkets on Thursday August 19.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $366.41 per tonne, up $0.93 per tonneHard coking coal, cfr Jingtang: $323.83 per tonne, up $1.16 per tonnePremium hard coking coal, fob DBCT...Read More
Domestic hot-rolled coil prices in China extended their losses, falling to their lowest in about six weeks on Thursday August 19; futures prices continued their decline on demand concerns and waning cost supports.DomesticEastern China (Shanghai): 5,600-5,620 yuan ($863-866) per tonne, down by 90 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange weakened for a second stra...Read More
Domestic rebar prices in China dropped sharply on Thursday August 19 on falling futures, but restocking demand picked up amid the decreases. DomesticEastern China (Shanghai): 5,010-5,040 yuan ($773-777) per tonne, down by 130 yuan per tonneThe most-traded January rebar futures contract dropped to a low of 4,925 yuan per tonne during Wednesday's night trading session - down by 219 yuan per tonne fr...Read More
A gradual increase in end-user demand kept domestic stainless steel prices in China from falling further in the week ended Wednesday August 18. Nickel and stainless steel futures also experienced small changes during the week, which helped to keep spot stainless steel prices stable. The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $19,...Read More
First Solar, which claims to be the world's largest producer of solar power modules, has begun construction of a manufacturing facility in the eastern US state of Ohio, the company said on Tuesday August 17.The company, which is based in the state of Arizona in the western US, will invest $680 million in the Ohio facility, which will have capacity for 3.3GW-worth of modules.The plant will focus on...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...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
Key data from Fastmarkets' pricing session in China on Wednesday August 18. Key drivers The spot cobalt metal price in China narrowed up after local futures prices strengthened. And reducing stocks brought further support, with most sellers pushing up offer prices in response.The cobalt tetroxide price widened down with...Read More
Orca Gold (TSXV: ORG) subsidiary Montage Gold (TSXV: MAU; US-OTC: MAUTF) has exceeded its exploration objective at the Kon?(C) gold project in C??te d'Ivoire with 100% resource conversion and resource growth.Montage has reported an initial indicated resource for Kon?(C), outlining 225 million tonnes grading 0.59 gram gold per tonne for 4.27 million oz. of contained gold at a 0.2 gram per tonne cut...Read More
Pending continued improvement in regional health statistics, Vizsla Silver (TSXV: VZLA) plans a staged restart of drilling activities on September 1 at its Panuco silver-gold project in Sinaloa state, Mexico.Soaring Covid-19 cases have prompted the company to voluntarily suspend activities in late July to protect the health and safety of the team and the communities in which they work.The company...Read More
Canada's Ontario has rescinded a work suspension order in place over great swathes of the province in the wake of wildfire activity since July 21, allowing Great Bear Resources (TSX: GBR; US-OTC: GTBAF) to start work on Phase 2 drilling from August 18.The next phase of Great Bear's exploration strategy will test the continuity of mineralization along the significant LP Fault below 450 metres depth...Read More
After years of indecision and US$4.5 billion (pre-tax) invested in development since 2008, BHP has announced that it will move forward with its Jansen potash project in Saskatchewan and approved capital expenditure of US$5.7 billion to build the first phase of the project. The sum includes funding for the required port infrastructure.BHP, the world's largest mining company, paired that news with i...Read More
Chilean miner Antofagasta (LSE: ANTO) says that water shortages in the South American nation, which has been hit by a decade-long drought exacerbated by climate change, has forced it to cut its copper production target for the year. The miner now expects to produce between 710,000 tonnes and 740,000 tonnes of copper this year, down from its previous forecast of 730,000 tonnes to 760,000 tonnes....Read More
North Arrow Minerals (TSXV: NAR) has completed a 2,000-tonne bulk sample from its Naujaat diamond project in Nunavut, a key step toward discovering if the project has enough fancy coloured diamonds - with a high enough value - to justify development.North Arrow has already delineated a resource for the Q1-4 kimberlite at Naujaat, located only 7 km from tidewater near the community of Naujaat. Q1-4...Read More
A move towards resource expropriation, tax and royalty increases, as well as demands for local participation in companies' ownership-all components of resource nationalism-continues to increase, with Latin America taking centre stage, a new study shows.According to the latest report from risk consultancy Verisk Maplecroft, there is a clear four-year trend in mineral-rich nations seeking greater co...Read More