(IDEX Online) - Baselworld has suffered a further setback with the cancelation of its 2022 show and the departure of its managing director.The iconic Swiss watch event, which last took place in 2019, has been hit by the wholesale departure of high-profile names exhibitors, the launch of a rival event by Rolex, Patek Philippe, and others, and Covid-related postponements and cancelations.The show, w...Read More
Operations at the Antamina copper-zinc-lead mine in Peru restarted last week, with talks between the local community and the mining entity continuing on Friday November 12, Fastmarkets heard. Two sources confirmed that mining resumed as of Monday at Antamina, where operations were stopped on October 31 due to roadblocks and protests. The mine is the biggest copper deposit in Peru, and is join...Read More
Ball Beverage Packaging South America (BPSA), the South American branch of international packaging company Ball Corp, achieved dual Aluminium Stewardship Initiative (ASI) certifications for its 15 manufacturing facilities across South America, it announced on Monday November 15.BPSA has been successfully certified with both ASI Performance and Chain of Custody (CoC) standards for responsible produ...Read More
South Korea's copper smelter LS Nikko is diversifying its raw-materials portfolio by smelting circuit boards in mobile phones collected across the country, the company said on Monday November 15.The initiative is in collaboration with mobile phone distributor SK Networks to collect 50,000 used mobile phones via an artificial intelligence-based recyling platform, which could help manage and process...Read More
Revisions to the European Union's Waste Shipments Regulation (WSR) are intended to promote and encourage investment into the circular economy as well as to provide further protection to developing countries from the transfer of hazardous waste, executives from European Aluminium told Fastmarkets during an exclusive interview on last week.They said the regulations are not intended to ban the export...Read More
Transparency at centre of corporate climate policySPONSOREDpolyusPolarX finds extra copper potential in AlaskaSPONSOREDpolarxCorazon Mining: developing a large-scale nickel sulphide projectSPONSOREDcorazon miningAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsIn a report published this week, RFC Ambrian found that energy efficiency "is being neglected in favour of eas...Read More
Steel rebar and wire rod producers in the Commonwealth of Independent States reduced export offer prices in response to lower bids coming from foreign customers since the beginning of November.Wire rod offers from Ukraine's main long steel supplier - ArcelorMittal Kryvyi Rih - slid to $860-870 per tonne fob Black Sea from $900-910 per tonne fob earlier in November.Meanwhile, Russian material was a...Read More
Transparency at centre of corporate climate policySPONSOREDpolyusPolarX finds extra copper potential in AlaskaSPONSOREDpolarxCorazon Mining: developing a large-scale nickel sulphide projectSPONSOREDcorazon miningAzure eyes province potential ahead of Andover resourceSPONSOREDazure minerals"For the first time ever, we've got 190 countries agreeing to sound the death knell for coal power," he said."...Read More
Prices for billet originating from the Commonwealth of Independent States region rose over the weekend amid higher offers heard in the market.Offers from Russia and Ukraine increased to $650-655 per tonne fob Black Sea, according to a number of market participants, citing reduced availability of material.The decision of the Egyptian government to remove safeguard...Read More
Trading in the European hot-rolled coil market remained slow on Monday November 15, with buyers in wait-and-see mode, sources told Fastmarkets.Distributors have been holding back from making deals until the price trend becomes clear.European producers have been offering first-quarter-rolling coil at high prices, insisting that the increase is necessary due to higher energy and emission costs. In a...Read More
Domestic prices for hot-rolled coil in Europe declined slightly in the week to Friday November 12 amid subdued trading activity in the spot market.HRC buyers across Europe were largely maintaining a wait-and-see attitude during the week.European mills were still able to offer fourth-quarter HRC to the spot market at lower prices due to slowed demand from the automotive industry. Notably, some volu...Read More
The Egyptian Ministry of Industry and Trade has suspended safeguard duties on imported billet and rebar, effective Monday November 15.The measure suspends import duties that had been in effect in the country since October 2019 to help local industry combat the significant rise in energy and shipping costs.There had been expectations that the duties would be removed in June this year, but the...Read More
Import prices for rebar in Singapore were unchanged during the week to Monday November 15 amid thin spot negotiations in the market for January or February shipment material.Offers for rebar cargoes from the Middle East were at $740-745 per tonne cfr Singapore on a theoretical weight basis.Turkish steelmakers were heard to have increased their offers to $740-750 per tonne fob on an actual weight b...Read More
(Recasts, updates prices, adds market details) LONDON, Nov 15 (Reuters) - Copper fell on Monday as datashowed weakness in China's property sector, Chinese coal pricesplunged, the U.S. dollar strengthened to a 16-month high and asupply squeeze on the London Metal Exchange (LME) continued toease.China is the biggest consumer and producer of metals. Lesshomebuilding would reduce demand, and lower coa...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points in pre-opening trade. Index futures were virtually unchanged following release of the November Empire State Manufacturing Survey at 8:30 AM EST. Consensus was an increase to 20.50 from 19.80 in October. Actual was 30.9Dollar Tree advanced $8.57 to $121.65 on news that an activist investor has taken a $1.8 bil...Read More
Turkey's domestic auto bundle scrap prices have increased due to a weakening lira, while ship scrap prices have been largely stable, market participants told Fastmarkets on Monday November 15.The Turkish lira weakened further against the United States' dollar after the Turkish central bank cut the benchmark interest rate by 2% to 16% late in October.The central bank was expected to cut the interes...Read More
Turkish steel producers made three deep-sea scrap cargo bookings for December shipment on Monday November 15, market participants told Fastmarkets.A steel mill in the Marmara region booked a United Kingdom cargo at $490 per tonne cfr for heavy melting scrap 1&2 (80:20).The same mill also booked a Baltic Sea cargo consisting of HMS 1&2 (80:20) at $494.50 per tonne cfr.Another steel mill...Read More
Seaborne premium coking coal fob prices dropped sharply on Monday November 15 on a new deal sealed at a lower level, while buying interest for seaborne material from Chinese mills remained low.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $518.60 per tonne, down $3.41 per tonneHard coking coal, cfr Jingtang: $454.52 per tonne, down $10.10 per tonnePremium hard coking coal, fob DBCT: $...Read More
Seaborne iron ore prices slipped slightly on Monday November 15 amid continuous weak demand from Chinese steel mills, which have begun formal production curbs for the winter heating season as of today, market sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $89.05 per tonne, down by $0.64 per tonne62% Fe low-alumina fines, cfr Qingdao: $90.26 per tonne, down by $1.13 per tonne5...Read More
Demand for direct-charge steelmaking raw materials iron ore pellets and lump has been limited due to steelmakers' focus on cost efficiency amid the ongoing sintering restrictions in China, sources told Fastmarkets.As a result, prices for both iron ore lump and pellets have eased and will likely continue to fall further because of the weakness in demand, they said.The month-to-date average of Fastm...Read More