Some rebar producers in Egypt have decreased their prices in effect from Monday February 10 amid falling billet prices and a strong domestic currency, sources told Fastmarkets.The country's biggest producer Ezz Steel is now offering rebar at E ?9,900 ($626) per tonne ex-works including 14% VAT, down from E ?10,000 per tonne ex-works.El Marakby...Read More

Turkish steel producers have continued to book deep-sea scrap from the United States and Europe for end of February and early March shipments, sources told Fastmarkets on Monday February 10.A steel mill in the Iskenderun region booked a European cargo of 20,000-25,000 tonnes of HMS 1&2 (80:20) at $252 per tonne cfr.A steel mill in the Marmara region booked a US cargo, comprising 18,000 tonnes of H...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesState copper company Codelco, the grand dame of copper producers, is increasingly showing the signs of age as production fell 5.6% in 2019 to 1.Read More

Turkish domestic auto bundle and ship scrap prices have continued to slide over the past week in line with the falling cost of imported scrap, sources said on Monday February 10.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,510-1,715 lira ($251-285) per tonne on February 10, down from 1,560-1,800 lira per tonne last week.The Turkish stee...Read More

The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.China’s CSI 300 is up by 0.21%, while other Asian equity indices are lower. Gold prices are edging higher again.There is still much uncertainty around the impact of the Wuh...Read More

Ferrous scrap prices continued to move lower across the global markets during the week ended Friday February 7, following poor trading as a result of the coronavirus outbreak in Asia.Turkish prices drop sharplyUnited States export prices drop on Turkey bookingsTaiwan import prices slip on demand dipVietnam prices move down as virus dampens sentimentIndian import prices slump as trading returnsTurk...Read More

Seaborne iron ore prices eased on Monday February 10 amid the de-escalation of Tropical Cyclone Damien which hit Western Australia at the end of last week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.88 per tonne, down $0.71 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.21 per tonne, down $0.71 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.07 per tonne, down $0.95 per...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesPrevious feasibility work on Baimskaya suggests copper production of 250,000tpa and 400,000 ounces of gold per annum is on the cards - or 330,000tpa copper equivalent - which is an improvement of moreRead More

Seaborne coking coal prices were unchanged on Monday February 10, with the market having a quiet start after the weekend following last week's activity that saw over 650,000 tonnes of spot cargoes changing hands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $160.61 per tonne, unchangedHard coking coal, fob DBCT: $127.01 p...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesMitsubishi will contribute $263 million as a capital subscription into Mantoverde which will be used for the MVDP Mantoverde development project, and pay $20 million in cash upon the completion of specific milestonesMVDP is a $731 million brownfield project in the Atacama region which contemplates building a copper concentrator to...Read More

Spot prices in the Singapore rebar import market continued to weaken over the past week on lower raw materials prices in the ferrous scrap markets and bearish sentiment caused by the outbreak of the coronavirus.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-440...Read More

Demand for seaborne iron ore concentrate and pellets fell last week amid a stagnant steel market in China due to the outbreak of the novel coronavirus (2019-nCoV) in the country.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $99.07 per tonne last Friday February 7, down by $3.54 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65...Read More

U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 2 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US75.11 cents following release of January Canadian Housing Starts at 8:15 AM EST. Consensus was an increase to 202,000 from 197,300 units. Actual was 213,200.Restaurant Brands International gained $4.14 to US$68.00 after reporting...Read More

China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonneA Shanghai-based trad...Read More

China's domestic rebar prices were mixed on Monday February 10, with those in the eastern region holding steady while the northern Chinese market tumbled on weak demand.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,460-3,480 yuan per tonne, down 80 yuan per tonneAfter an extended break implemented by local authorities to contain the spread of...Read More

Key data from the pricing sessions in Asia and Europe in the week to Friday February 8.Key driversChina Fastmarkets' assessment of the price of antimony, MMTA standard grade II, ddp China was unmoved following a lack of liquidity and absent market participants after the Chinese New Year holiday break was extended (January 24-February 2). Many suppliers stayed out of the market in the week to Febru...Read More

PRIVATE BLOG - NASDAQ – EURO – GOLDPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More

Minor metals producer Vital Materials has acquired specialty chemicals company Lanxess' organometallics business, Vital said on Friday February 7. The plant located in Pyeongtaek, South Korea, produces high-purity gallium, indium and aluminium-based metalorganic sources including trimethylgallium, trimethylaluminum, triethylgallium and trimethylindium. The organometallics are used for the manufact...Read More

Swiss miner-trader Glencore has signed a five-year deal - from 2020 until 2024 - to supply South Korean battery manufacturer Samsung SDI with 21,000 tonnes of cobalt contained in hydroxide, Glencore said on February 10.Glencore produces cobalt hydroxide at its Katanga mine in the Democratic Republic of Congo (DRC) - slated to produce about 29,000 tonnes of cobalt in intermediates this year. Glenco...Read More

The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.There is still much uncertainty around the impact of the Wuhan coronavirus (2019-nCoV), but with more businesses returning to work in China this week, we might get a better feel for...Read More