European producers were planning to increase their official offer prices for domestic hot-rolled coil despite buyers taking a watchful stance until the price trend became clear, sources told Fastmarkets on Wednesday October 14.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.00 ($582.64) per tonne on Wednesday, up by ?,?1.25 per tonne from ?,?4...Read More
Turkish steel producers have continued their deep-sea scrap imports at firm prices thanks to improving demand for long steel products in the country's export markets, sources said on Wednesday October 14.A steel mill in the Iskenderun region booked a US cargo, comprising 6,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 17,000 tonnes of bonus at $297...Read More
Both the seaborne and futures prices for iron ore fell further on Wednesday October 14, with market sources putting the blame on weak sentiment resulting from high iron ore port inventories and low margins at steel mills in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, down by $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.98 per tonne, down by $1.32 p...Read More
Seaborne hard coking coal and pulverized coal injection (PCI) prices declined on Wednesday October 14, following the recent slump in premium hard coking coal prices after China issued a verbal notice banning coal imports from Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, down $0.83 per tonne Premium hard coking coal, cfr Jingtang: $134.98 per tonne,...Read More
China will release new standards for steel scrap imports by the end of 2020, the National Standard Formation Committee said at a recycled raw materials conference in Shanghai.The new standards will support the rising demand for ferrous scrap in China and will introduce the nationwide classification and regulation of high-quality scrap, according to the China Metallurgical Information & Standardiza...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 14.Read More
China's domestic rebar prices continued to slide on Wednesday October 14 amid high stock levels of mills and the spot market. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($550-555) per tonne, down by 10 yuan per tonneMajor steel mills had 13.59 million tonnes of finished steel inventory in early October, up by 17.22% from late September, while stock levels in the spot market amounted to 12....Read More
London Metal Exchange three-month base metals prices were broadly trading up on the previous day's close during the morning session on Wednesday October 14, with a weaker US dollar index boosting trade over the period.The US dollar index was down by a marginal 0.04% at around 93.51 on Wednesday morning, adding additional price support to LME futures prices amid the dip buying interest that has eme...Read More
China's hot-rolled coil prices weakened on Wednesday October 14 after trading thinned, though buyers in Vietnam raised their bids for Chinese products slightly.DomesticEastern China (Shanghai): 3,910-3,930 yuan ($581-584) yuan per tonne, down 10 yuan per tonneA Shanghai-based trader said sentiment was affected by falling futures on Wednesday, which resulted in spot prices dipping.Trading activity...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Read More
An overview of the consumers electronics markets and their latest price moves.Read More
China's monthly output and sales of new energy vehicles (NEVs) continued their upward trajectory in September, reaching a year-to-date high following its first and second year-on-year growth since last year in July and August. China produced 136,000 NEVs in September, including pure electric vehicles (PEVs) and plug-in hybrids. This figure was up 48% from September 2019, and is also up 28.9% on a...Read More
The implementation of fifth generation (5G) technology will be the primary demand driver for tantalum after the Covid-19 pandemic is resolved, panelists said during a Tantalum-Niobium International Study Centre virtual conference this week. "Tantalum is driven by connectivity and 5G implementation will be the primary demand driver going forward," Travis Ashburn, senior vice president at Kemet Elec...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,...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....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 14. Key drivers The ferro-titanium spot price range narrowed, reflecting producers' attempts to pass on the cost of tightening scrap supplies since the start of September.Most ferro-titanium producers are struggling to source enough scrap to meet their smelting schedules for longer term delivery deals, with little alloy ava...Read More
Newrange Gold (TSXV: NRG) has reported drill results from the Merritt zone at its flagship Pamlico gold project in Nevada, 19 km southeast of Hawthorne.The 17-sq.-km property covers the historic Pamlico mines on Pamlico Ridge and the former producing Central, Good Hope, Gold Bar, and Sunset mines, in addition to various unnamed historic mines and other prospects.Pamlico was discovered around 1884...Read More
SilverCrest Metals (TSX: SIL; NYSE-AM: SILV) plans to spend US$60 million on drilling through the end of 2022 at its Las Chispas silver-gold project in Mexico's Sonora state."Growth from drilling is a huge part of our story, and we have only scratched the surface," Chris Ritchie, the company's president, said during a webinar.According to the mining executive, the company was guiding on publishing...Read More
Barrick Gold (TSX: ABX; NYSE: GOLD) is moving ahead with plans to extend the life of its Hemlo gold mine in Ontario by transitioning the operation from open-pit mining to purely underground mining as a modernized 'tier two' asset.Mining of the Williams pit is expected to wind down at the end of the month. Barrick has a transition plan in place to transfer most of the pit employees to Barminco, the...Read More
Despite a more tempered performance from precious metals during the third quarter of 2020, gold and silver prices still demonstrated gains and outperformed the initial expectations of analysts at Haywood Research.During the quarter, gold prices averaged US$1,911 per oz., which was above the firm's forecasted gold price of US$1,800 per oz. and 11% higher than the second-quarter average of US$1,714...Read More