Alongside an otherwise solid set of September quarter production results released on Wednesday, Antofagasta forecast copper production of 660,000-690,000 tonnes for next year, down 7% from 2021Read More
Politicians may be morons when it comes to public policy, but they're geniuses when it comes to inventing new ways to control your life and steal your money.Tax increases seem old-fashioned compared with new 21st-century ways to take over the financial system to your detriment and make you pay for their pet projects. Take climate, for example…We're all familiar with how climate alarm has bee...Read More
Tight ferrous scrap supply in the United States export market is fueling expectations that prices for all grades could jump by as much as $40 per gross ton in November's trade, with domestic prices expected to mimic the recent surge in their exported counterparts."We're on the first stage of the rocket, and we're going to see a $100-per-ton increase by the year end. I think minimum $40 per ton nex...Read More
Turkish steelmakers continued to pay higher prices for deep-sea ferrous scrap cargoes scheduled for shipment in December, market sources told Fastmarkets on Wednesday October 20.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 32,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $502 per tonne and 3,000 tonnes of bonus-grade scrap at $522 per tonne cfr.Pre...Read More
Taiwan's import prices for containers of steel scrap were expected to continue to rise because of a huge premium for bulk import prices over material arriving in containers, market sources told Fastmarkets on Wednesday October 20.?EUR?Taiwanese buyers continue to book containerized cargoes?EUR?Chinese market muted by wide bid-offer gaps?EUR?China's ferrous scrap import volumes down by 49% month on...Read More
Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.07 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.21 per tonne, down $0.22 per tonne58% Fe fines high...Read More
Seaborne coking coal prices remained relatively stable on Wednesday October 20 with no trading activity. In China, market participants were cautious after the National Development and Reform Commission (NDRC) held meetings on thermal coal price controls on Tuesday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, unchangedHard coking coal, cfr Jingtang: $563.37 per tonn...Read More
The mayor of China's Yulin city, Shaanxi province, has urged local state-owned coal mines to lower thermal coal prices by 100 yuan ($16) per tonne and set price ceilings for long-term coal supply contracts.Thermal coal in term contracts with state-owned coal miners should not be sold at more than 1,200 yuan per tonne, while privately-owned enterprises should be offered at no more than 1,500 yuan p...Read More
Spot prices for hot-rolled coil in China fell on Wednesday October 20, after futures tumbled to a one-week low amid a broad-based decline led by coal-related products.DomesticEastern China (Shanghai): 5,700-5,780 yuan ($892-904) per tonne, down by 20-80 yuan per tonneThe most-traded January HRC contract on the Shanghai Futures Exchange shed 186 yuan per tonne (3.24%) from the previous day's closin...Read More
China's domestic rebar prices decreased on Wednesday October 20 amid weak demand following a sharp decrease in coal futures. Domestic Eastern China (Shanghai): 5,700-5,740 yuan ($891-897) per tonne, down by 30 yuan per tonneChina's National Development & Reform Commission (NDRC) plans to address the issue of high coal prices to ensure sufficient supply of the material ahead of the country's heatin...Read More
The London Metal Exchange three-month copper price traded slightly lower during morning trading on Wednesday October 20 following the exchange's amendments designed to maintain order in the copper market the previous day.The LME imposed a series of temporary measures to maintain an orderly copper market after wild outright and spread price moves and dwindling inventories in recent days, the exchan...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 20.Key drivers?EUR?European ferro-titanium suppliers held their offer prices steady in the week to Wednesday October 20 ahead of an expected major tender from major South Korean steelmaker Posco due by the end of the month.?EUR?Suppliers expected Posco to request offers from suppliers for a yearly contract to cover 2022. The...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
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide.....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 standard grade, in-whs Rotterdam, $/lb at 26.60-27.35 on Wednesday October 20, 2021....Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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
Base metals prices were down across the board on both the London Metal Exchange and Shanghai Futures Exchange this morning, Wednesday October 20, with relatively high volume being seen on the LME.After the upward spikes in LME cash prices, ahead of the October prime data, it is perhaps not surprising a reality check is underway......but once again let us see how far the pullback goes.Broader marke...Read More
BHP (NYSE: BHP; LSE: BHP; ASX: BHP) has sweetened its all-cash bid for Noront Resources (TSXV: NOT).The world's largest miner is now offering $419.3 million (US$339.10 million) or 75 ? per share for the Canadian company, representing a 36% premium to its previous offer and a 7% premium to rival Wyloo Metals' offer."Noront supports BHP's improved offer and recommends shareholders tender now to rece...Read More
Shares of Bear Creek Mining (TSXV: BCM; US-OTC: BCEKF) surged on news that Peru's new president, Pedro Castillo, and representatives of local communities, support the Corani silver-lead-zinc project.During a meeting at the presidential palace on Oct. 15, representatives from towns and villages in the Corani district "formally and unequivocally expressed their support for Bear Creek Mining's develo...Read More
Maritime Resources (TSXV: MAE) is drilling bonanza grades at its Hammerdown gold project in the Baie Verte region of Newfoundland. The project covers both the Hammerdown and Orion gold deposits.Highlights from the Orion deposit included hole BB-21-179, which returned 3 metres grading 20.1 grams gold per tonne starting 246 metres downhole, including 0.3 metre of 159.5 grams gold per tonne; and 4....Read More