The volume of copper held outside London Metal Exchange-listed warehouses plunged by 56% in September, with inventories of most base metals falling during that month, according to the LME's latest off-warrant stock report.The total amount of metal held outside of LME sheds was down for a second consecutive month to 673,599 tonnes. This was a year-to-date low and was down by 17% from 813,916 tonnes...Read More
(IDEX Online) - A Cartier aquamarine and diamond brooch that belonged to Princess Margaret is expected to sell for $54,000 to $68,000 at auction.Queen Elizabeth's younger sister received it as 17th birthday gift from her mother, ahead of her first foreign trip, to South Africa.The Art Deco-style oval hoop is set with circular-cut aquamarines, each shoulder with hexagonal-cut aquamarine highli...Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Johnson Matthey (JM) is pursuing the sale of all or parts of its battery materials division following a detailed review.This reflects the high capital intensity of those operations in the face of competition from more established large-scale, low-cost producers, the UK-based specialty chemical and sustainable technologies company said in a press release on Thursday November 11.Growth in demand for...Read More
Prices for hot-rolled coil in the United States rose slightly, but remained among the lowest level in months, with market sentiment still primarily bearish.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $92.50 per hundredweight ($1,850 per short ton) on Thursday November 11, up slightly from $92.33 per cwt on Wednesday and down by 1.94% from $94.33 per cwt on Novembe...Read More
Prices for flat steel imported to the United States diverged on Wednesday November 10, with hot-rolled coil and hot-dipped galvanized prices falling while cold-rolled coil prices increased.This comes when domestic prices in the US have generally begun to level off. Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was $1,440-1,510 per short ton ($72.00-75.50 per hundredwe...Read More
The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on Thursday November 11.In addition to steel cord, the plant makes special bar quality (SBQ) products, springs and other material, mainly focused on the automotive industry. Strong dema...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 miningThe CRDN commissioned an in-depth indigenous rights and knowledge study (IRKS) focusing on the Patterson Lake Ar...Read More
Steel billet prices to Egypt declined in the week to Thursday November 11, with demand from the private sector remaining weak, while government-funded projects continued, sources told Fastmarkets.Local rebar prices in Egypt have been unchanged since October 28 at E ?14,900-15,350 ($946-975) per tonne ex-works, including 14% VAT. ...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 miningThe miner said Fundo Vale, its non-profit investment arm, would join the initiative with R5 million which would...Read More
Turkish rebar and wire rod export prices remained largely unchanged over the past week amid limited demand, market participants told Fastmarkets on Thursday November 11.Turkish steelmakers have been offering rebar for export at $740-745 per tonne fob on an actual-weight basis since last week, but market participants said the workable price was closer to $730 per tonne fob. Fastmarkets' weekly...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 miningThe pair said the alliance would deliver "a fully connected, automated, zero carbon emitting, end-to-end mining...Read More
(Updates prices) By Eric Onstad LONDON, Nov 11 (Reuters) - Copper prices rebounded onThursday after debt-burdened China Evergrande Group again dodgeda default, raising hopes of government support for a propertysector that can drive significant demand for metals.Several of developer Evergrande's bondholders had receivedinterest payments on three bond tranches worth more than $148million, reports sa...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Thursday November 11 - it would seem dip-buying has dominated once again.* Consumer prices in the United States and China rise more than expected.* US Dollar Index shoots up to 95 while the rally extends.Base metalsThree-month base metals prices on the LME were mainly stro...Read More
The United States' imports of steelmaking raw materials fell by 7.36% month on month in September, spurred by a reduction in inflows of pig iron and a drop in ferrous scrap intake from Canada, according to the latest data from the US Census Bureau.Raw material imports totaled 931,030 tonnes in September, compared with 1 million tonnes in August and nearly 1.30 million tonnes in July.Overall ferrou...Read More
Vale has signed a memorandum of understanding (MoU) with China-based Baowu Steel Group, the largest steel producer in the world, to develop low greenhouse gas (GHG) emissions solutions for steelmaking, the Brazilian mining company said on Thursday November 11.One point included in the agreement was to seek bio-carbon production, a carbon-neutral product based in biomass - and not fossil energy - t...Read More
Prices for imports of basic pig iron into China have weakened over the past fortnight with bearish sentiment dominating the country's ferrous complex, sources told Fastmarkets on Thursday November 11.Chinese finished and semi-finished steel prices have been falling for most of the past two weeks, weighing down demand for pig iron, they said.Fastmarkets' fortnightly assessment of the price for pig...Read More
ArcelorMittal will invest $1 billion to expand its iron ore and long steel capacities in Latin America between the second halves of 2023 and 2024, the steelmaker said.In Brazil, the Luxembourg-headquartered company will invest $500 million in increasing upstream capacity of its long steel unit in Jo??o Monlevade, in the southeastern Minas Gerais state, while an expansion of its Serra Azul iro...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points in pre-opening trade.Disney dropped $6.00 to $168.32 after reporting lower than consensus fourth quarter revenues and earnings. Beyond Meat dropped $9.74 to $84.74 after reporting a higher than consensus quarterly loss. The company also lowered guidance. Affirm Holdings jumped $37.07 to $170.60 after announci...Read More
Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.- Bangladesh buyers step back from market - Shredded scrap offers rise to Bangladesh amid strong Pakistan market - Taiwanese consumers continue to bid low Bangladesh There was a lack of import ac...Read More