There were no deep-sea bookings by Turkish steel mills on Tuesday October 19, but sources expect mills to book more cargoes for December amid strong demand for billet and rebar, market participants told Fastmarkets.The most recent deep-sea trade was recorded on Monday October 18, when a steel mill in the Iskenderun region booked a Baltic Sea cargo consisting of 6,500 tonnes HMS 1&2 (95:5) at $512...Read More
Seaborne coking coal prices were relatively stable on Tuesday October 19, with no trading activity heard. And the seaborne premium fob price will likely remain steady for the rest of the year, several sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, down by $0.44 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, unchangedPremium hard coking coal,...Read More
German steelmakers have settled their monthly steel scrap contracts for October at fairly stable prices, sources told Fastmarkets on Tuesday October 19.Deals settled at the beginning of the month were at stable prices or, in some cases, slightly lower. By the middle of October, however, after international scrap prices rebounded, German suppliers refused to accept lower prices. This meant that mil...Read More
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Seaborne iron ore prices inched lower on Tuesday October 19 because market participants adopted a weak outlook for iron ore demand after more news of steel production cuts in south China's Jiangsu province and iron ore logistics disruptions in north China's Tangshan, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.04 per tonne, down $0.28 per tonne62% Fe low-alumina...Read More
Tokyo Steel has increased its domestic scrap purchase prices for the fourth time in October, keeping Japan's export offers for steel scrap well supported, sources told Fastmarkets on Tuesday October 19.?EUR?Tokyo Steel raises scrap buy prices?EUR?Japanese material unaffordable to buyers in China?EUR?Taiwanese buyers bid higherJapanTokyo Steel, Japan's largest operator of electric-arc furnaces, ann...Read More
What do Toyota's automotive plant shutdowns have to do with steel scrap prices?A lot, apparently.Japan's largest automaker's on-off production schedule has been a major driving force behind some of the sharp price rises for Japanese scrap in both the domestic and seaborne markets, especially for the prime-grade material.In Japan, such scrap is referred to as Shindachi, which comprises Shindachi Ba...Read More
Domestic hot-rolled coil prices in China narrowed upward on Tuesday October 19, with market sentiment boosted by new production curbs in the country's eastern region.DomesticEastern China (Shanghai): 5,780-5,800 yuan ($898-902) per tonne, narrowing upward by 80 yuan per tonneDue to power rationing, Shagang - a major steelmaker in East China's Jiangsu province - will suspend its rolling lines from...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 Cobalt...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 Cobalt...Read More
China's cobalt metal price strengthened after China's National Day holiday (October 1-7) amid the rally in international benchmark metal price and a shortage of spot units. While the price gap between China domestic market and the international market narrowed, it is unlikely that the former will match the latter in the near future, sources told Fastmarkets.Fastmarkets' price assessment for cobalt...Read More
Base metals prices continued to soar higher this morning, Tuesday October 19, with cash prices rising at an even faster pace while shorts are squeezed. Cash copper prices on the London Metal Exchange were evaluated on Monday evening at $1,103.50 per tonne.All of the LME base metals' cash/three-month spreads, except that for aluminium, are in backwardation.Risk appetite is fairly upbeat despite gen...Read More
FPX Nickel (TSXV: FPX) says it has made a significant new nickel discovery with the first two holes it drilled at the Van target at its Decar project, 90 km northwest of Fort St. James in British Columbia.Drilling intersected some of the highest grade, near-surface nickel mineralization ever drilled at the Decar project, the company says.The first hole intersected 101 metres grading 0.21% total ni...Read More
This week's episode features NORCAT CEO Don Duval in conversation with Canadian Mining Journal editor-in-chief Alisha Hiyate. Don stressed the importance of mining companies having a strategy to acquire new technology and why it should probably be outsourced. He also discussed workplace trends and how employees are demanding more freedom after the coronavirus pandemic, and why mining companies wil...Read More
Alrosa, the world's top diamond miner by output, says the industry has "fully recovered" from the Covid-19 pandemic as a structural production decline paired with growing end-user demand are pushing prices past levels reached in 2019. In its yearly diamond investment market report, the Russian producer said that jewellery sales have risen sharply in the past few months and are expected to exceed...Read More
The aggregate annual global exploration budget is expected to increase between 5% and 15% year over year for 2022, a new report by S&P Global Market Intelligence states.The market researcher's prediction is based on its own data that show that in 2021, the aggregate annual global nonferrous exploration budget has increased by 35% year over year to US$11.2 billion from US$8.3 billion in 2020, signa...Read More
The S&P/TSX Composite Index rose 511.8 points or 2.51% to 20,928.10 during the Oct. 11 to Oct. 15 trading week. The S&P/TSX Global Mining Index increased 5.73 points or 6.02% to 100.85, and the S&P/TSX Global Base Metals Index rose 14.82 points or 9.3% to 174.39. The S&P/TSX Global Gold Index advanced 12.9 points or 4.8% to 281.74, and spot gold climbed US$10.30 per oz. to finish the week at US$1,...Read More
The Dow Jones Industrial Average rose 548.51 points or 1.58% to 35,294.76 and the S&P 500 climbed 80.03 points or 1.82% to 4,471.37 in the Oct. 11-15 trading week. Spot gold increased US$10.30 per oz. or 0.59% to US$1,767.40 per ounce.Aluminum giant Alcoa posted the largest gain, rising US$9.97 per share to US$56 per share. High prices for aluminum and alumina drove record results for the third qu...Read More
The S&P/TSX Venture Composite Index rose 60.19 points or 6.86% to 939.67 during the Oct. 11-15 trading week. Spot gold closed the week at US$1,767.40 per oz., up US$10.30 per oz. or 0.59%.Rock Tech Lithium surged $3.85 to $8.65 per share. The company announced it is planning to build Europe's first lithium converter - a production plant for battery -grade lithium hydroxide - in Guben, Brandenburg....Read More
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