China's decarbonization drive could result in increased demand for graphite electrodes amid the global trend toward more steelmaking based on electric-arc furnaces (EAFs), although supply risks may continue in the near term against a backdrop of energy controls, sources have told Fastmarkets."[Increased] EAF [usage] could be a general trend for steelmaking in China, [because this] is what national...Read More
Seaborne iron ore prices were mostly stable on Monday November 8 amid continuing weak demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.82 per tonne, up $0.68 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.55 per tonne, up $0.47 per tonne58% Fe fines high-grade premium, cfr Qingdao: $65.68 per tonne, down $0.10 per tonne65% Fe...Read More
PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningIt said space-based technology and artificial intelligence were evolving into valuable tools for mining, after h...Read More
Seaborne coking coal prices in cfr and fob markets diverged on Monday November 8 with previously stranded Australian coal entering China.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $588.94 per tonne, down $11.31 per tonneHard coking coal, cfr Jingtang: $517.65 per tonne, down $7.58 per tonnePremium hard coking coal, fob DBCT: $402.65 per tonne, unchangedHard coking coal, fob DBCT: $...Read More
China imported 91.61 million tonnes of iron ore in October 2021, down by 14% from 106.74 million tonnes one year earlier and 4% lower month on month - its fifth consecutive monthly decline, according to Chinese customs data released on Sunday November 7.In January-October, China imported a total of 934.6 million tonnes of iron ore, down by 4.2% from the corresponding period in 2020.Demand for...Read More
BHP has signed an agreement to sell its 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd as part of its decarbonization plan, the Anglo-Australia multinational announced on Monday November 8.BMC comprises the Poitrel and South Walker Creek operations, Red Mountain Infrastructure and the Wards Well development in Queensland, Australia. Stanmore SMC Holdings Pty Ltd has agreed...Read More
Seaborne iron ore concentrate and pellet prices fell during the week to Friday November 5 amid weaker demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $55.70 per tonne, up by $8.60 per tonne66% Fe concentrate, cfr Qingdao: $117.73 per tonne, down by $19.75 per tonne65% Fe blast furnace pellet, cfr Qingdao: $169.69 pe...Read More
Spot prices for hot-rolled coil in China dipped on Monday November 8 after the futures market fell to a new nine-month low in response to Tangshan lifting some of its production curbs for fighting heavy air pollution. DomesticEastern China (Shanghai): 4,950-4,960 yuan ($774-775) per tonne, down by 10-40 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange dropped to a trough...Read More
(Recasts, updates prices) By Pratima Desai LONDON, Nov 8 (Reuters) - Copper prices rose on Monday asstrong export growth data from top consumer China, fallinginventories and the passing of a $1 trillion U.S. infrastructurebill boosted sentiment, though gains were capped by concern overChinese demand. Benchmark copper on the London Metal Exchange (LME)was up 1.2% at $9,637 a tonne at 1658 GMT. The...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Monday November 8, but those on the Shanghai Futures Exchange were mainly firmer as they followed the strength seen on the LME on Friday.* US Congress’ passing of the long-awaited infrastructure bill bodes well for the metals* Chinese trade data show a record surplus, but weaker than expected imports highligh...Read More
End-user demand for rebar in China's domestic market decreased on Monday November 8 on adverse weather, though prices picked up on rising futures. Domestic Eastern China (Shanghai): 4,900-4,980 yuan ($766-778) per tonne, up by 20-70 yuan per tonneLarge parts of China have been experiencing a cold wave since last Friday, causing snow in the northern region and strong winds in the...Read More
Key data from Fastmarkets' pricing session in Europe on Friday November 5.Key drivers?EUR?There were higher bids for gallium in the market but producers seemed reluctant to sell. Some producers declined bids that were higher than the current price, believing that the price would continue to rise.?EUR?The metal's price...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 Cobalt standard grade, in-whs Rotterdam, $/lb...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Lowe's (LOW $233.30) is expected to open higher after Wells Fargo raised its target price from $230 to $260.Caterpillar gained $2.28 to $205.88 after Congress passed an Infrastructure Bill over the weekend. Live Nation dropped $4.90 to $118.90 following news of a criminal investigation of...Read More
Key data from the Friday November 5 pricing session in Shanghai.Key drivers?EUR?Domestic prices for tellurium in China fell amid a slow spot market last week. Participants received very limited inquiries from the downstream thermoelectric cooler industry, according...Read More
Drilling at Hudbay Minerals' (TSX: HBM; NYSE: HBM) Copper World project in Arizona this year has identified three new deposits bringing the total number to seven, with a combined strike length of over seven kilometres. The exploration success resulted in the company raising its 2021 exploration budget from US$10 million to US$34 million and increasing the drill program from 21,336 metres to over...Read More
Vanadium miner Largo Resources (TSX: LGO; Nasdaq: LGO) is rebranding to Largo Inc. to reflect its focus from being seen only as a primary vanadium miner to a fully integrated vanadium redox flow battery technology company.To this end, the company has integrated its Largo Clean Energy business back under the same corporate umbrella as it repositions to deliver high-quality, sustainable and innovati...Read More
The Toronto-listed equity of Aurion Resources (TSXV: AU) jumped more than 9% Monday after the company revealed Canadian gold major Kinross Gold (TSX: K) has agreed to earn a 70% option on the Silaskaira project in Finland.The property is next to the Silasselk?? vanadium project, currently under option to Strategic Resources Inc (TSXV: SR), in which company Aurion holds about 16% equity interest, a...Read More
After a brutal 2020 that saw diamond production and sales curbed globally, with production declining more than 20% to around 107 million carats, the diamond market has bounced back strongly in 2021. Paul Zimnisky, an independent diamond industry analyst, explains what's happened in the market, why new supply may be needed by the beginning of the next decade, and the importance of traceability init...Read More