Stainless steel scrap prices in the United States declined slightly while consumer demand weakened due to maintenance outages and some production difficulties.One stainless steel melting facility has a one-week maintenance outage scheduled for September, and another stainless mill has been experiencing some production problems, according to some scrap dealer sources. As a result, those mills have...Read More

Chilean copper producer Codelco has initiated construction work on Rajo Inca, a $1.38-billion addition to its Salvador mine, which should begin operations in 2022, the state-owned company said on Tuesday August 24.Rajo Inca increases the mine life at Salvador by 47 years, to 2070, with copper capacity to reach 90,000 tonnes per year, from 60,000 tpy currently. Mineral exploration will move from an...Read More

There were small rises on the London Metal Exchange for most futures contracts at the close on August 25, with lead rising the most by 1%, despite low volumes traded in some metals. Lead's three-month price closed above $2,300 per tonne at 5pm for the first time since August 16. It was at $2,318 per tonne at the close, up from Tuesday's close of $2,993.50 per tonne. Its volumes were broadly simila...Read More

Nickel premiums were unchanged in both the United States and China in the week to Tuesday August 24, with higher levels of spot business reported in Asia due to an opened arbitrage window between London and Shanghai.US 4x4 cut cathode premium steady, after rising by 11.1% in the previous week with market participants awaiting price direction.Spot activity up in Asia on an open arbitrage window bet...Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesOzAurum drills in home of goldSPONSOREDozaurum resourcesThe Future of Tailings ManagementSPONSOREDMinerals sands EBITDA jumped 69% to A$299 million, while margin improved to 41% from 39%. Operating cashflow was $306 million, with free cashflow of $1...Read More

Hot-rolled coil prices in the United States have slipped below $96 per hundredweight ($1,920 per short ton), with some participants indicating that the market was stalling temporarily before spot offers open from September.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.31 per cwt ($1,906.20 per ton) on Wednesday August 25, down by 1.28% from $96.55 per cwt on Tu...Read More

Leon Coetzer, CEO of Jubilee, said the MOU, announced Tuesday, "will see Jubilee refurbish and expand some of Mopani's processing facilities currently not in use and removes the need for the companyRead More

Prices for steel hollow sections in Europe remained flat on Wednesday August 25 due to the quiet summer market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,644-1,679) per tonne on Wednesday, unchanged week on week.Trading remains low during the summer holidays - participants have not yet returne...Read More

Domestic prices for cold-rolled coil in Europe moved down slightly in the week to Wednesday August 25 with sentiment among buyers turning negative, sources told Fastmarkets.Buyers believed that prices would go down because of the sharp decline in iron ore costs last week, competitive import offers and the continuing shortage of semiconductors, which was limiting car manufacture."Automotive product...Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesOzAurum drills in home of goldSPONSOREDozaurum resourcesThe Future of Tailings ManagementSPONSOREDFunds would also be used for working capital and general corporate purposes.Kombat's restart costs were put at US$6.4 million in a 2018 feasibility stu...Read More

Trading activity in the Commonwealth of Independent States' export long steel market remained sluggish in the week to Wednesday August 25 amid slow demand from Europe due to holidays in the region as well as continuing competition with Turkish suppliers.Turkish steel producers decreased their export offers for rebar to $680-695 per tonne fob on an actual weight basis last week, against $695-705 pe...Read More

Export prices for steel billet from the Commonwealth of Independent States continued to fall in the week to Wednesday August 25, with lower sales and bids heard.Latin American demand remained strong, with a 30,000-35,000 tonne Ukraine-origin cargo sold at $610 per tonne fob Black Sea, sources said. This is $20 per tonne cheaper than in bookings in the region in the first half of August.Other marke...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 1 point in pre-opening trade. Index futures were virtually unchanged following release of the July Durable Goods Orders report at 8:30 AM EDT. Consensus was a drop of 0.5% versus a gain of 0.9% in June. Actual was a slip of 0.1%. Excluding transportation orders, consensus was an increase of 0.5% versus a gain of 0.5%...Read More

Brazilian energy and logistics company Grupo Cosan is building a joint venture (JV) to create an integrated iron ore mining and logistics company in the country's northern Caraj??s region.Cosan's subsidiary Atl??ntico Participa???ues will own 50% of voting shares and 37% of total shares of the new joint venture, called JV Minera????o.Atl??ntico signed a memorandum of understanding with Grupo Paulo...Read More

Recyclers on the East Coast of the United States reduced their dock prices in the week to Monday August 23 in the wake of a lower-priced deep-sea ferrous scrap export sale to Turkey and ahead of an anticipated $20- to $30-per-gross-ton drop in September's domestic trade."Next month, because we are on the East Coast, I am sure local mills will take cuts down a minimum of $20 per gross ton and will...Read More

The Turkish steel producers resumed their deep-sea scrap purchases with a European cargo deal, market participants told Fastmarkets on Wednesday August 25.A steel mill in the Iskenderun region booked the Belgian cargo comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The transaction is for prompt shipment.The HMS 1&2 (80:20) price of...Read More

The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further cutback in free days.This latest setback to containerized shipping has led to greater difficulty for anyone involved in buying, selling and arranging containerized cargoes of metal in...Read More

Seaborne coking coal prices increased in the cfr China market following a strong domestic coking coal market on Wednesday August 25 and stayed largely firm in the fob Australia market amid low trading activities, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $391.84 per tonne, up $5.01 per tonneHard coking coal, cfr Jingtang: $365.31 per tonne, up $8.63 per tonnePr...Read More

Iron ore prices mostly increased on Wednesday August 25 despite weaker trading activity in the physical market, especially at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $148.66 per tonne, up by $2.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $148.95 per tonne, up by $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116.96 per to...Read More

Domestic hot-rolled coil prices in China stemmed their recent rally on Wednesday August 25 while industry data points to an output increase in mid-August.DomesticEastern China (Shanghai): 5,690-5,720 yuan ($879-883) per tonne, widening downward by 20 yuan per tonneThe China Iron & Steel Association (Cisa) said on Tuesday morning that daily crude steel output from its member mills average...Read More