Polish domestic rebar prices moved down over the past week due expectations of a decrease in the price of scrap, market sources told Fastmarkets on Friday February 14.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, fell to 2,050-2,150 zloty ($524-549) per tonne on February 14, down by 50-100 zloty...Read More

Indian domestic secondary billet prices have fallen by 800 rupees ($11) per tonne week on week on reduced demand from long product makers and oversupply of semi-finished products in the market, sources told Fastmarkets on Friday February 14.Fastmarkets assessed steel billet domestic, ex-works India, at 28,600-28,800 rupees per tonne on Friday, down 800 rupees from 29,400-29,600 rupees per tonne ex...Read More

MAPUTO – Botswana plans to conclude negotiations with De Beers on a diamond sales agreement by the end of April to replace the current ten-year deal that expires in January.The government wants to see more gems cut and polished within the borders of the world’s second-biggest biggest diamond producer, creating jobs and boosting the state coffers, according to Lefoko Moagi, the minister...Read More

A summary of Brazilian flat steel producer Usiminas' earnings in 2019.In briefAdjusted earnings at Usiminas dropped in 2019 from a year earlier, which reflected a fall in steel sales over last year mainly due to a reduction in steel exports. The company also faced an increase of 9.9% in its average cash cost per tonne in its steel business because of...Read More

Angola will this year initiate a new governance system for the country’s mining industry, the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, confirmed at the recent Investing in African Mining Indaba, in Cape Town. The new system will include the new National Agency for Mineral Resources (Agência Nacional de Recursos Minerais – ANRM, in Portuguese)...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe DNR said a January Minnesota Court of Appeals decision could affect future mining proposals, the state's currently operating iron mines, and a wide range of other state permit decisions, calling the ruling, "a significant departure from the DNR's long-standing application of state mining law".Glencore-backed PolyMet filed a sim...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesLlurimagua is a joint venture between Enami (51%) and Chile's state copper company Codelco (49%), however, despite the partners structuring an agreement in late 2019, Enami has yet to legally form the JV company as the Enami board has yet to sign the agreements.Advancement of the project has also been impacted by allegations of var...Read More

The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday February 7, stabilizing after falling more than 11% in the prior week, with higher export prices from Europe this week supporting domestic British prices, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?70-9...Read More

The price of ferrous scrap imported into India moved up this week, as the bellwether Turkish market staged a recovery, sources told Fastmarkets on Friday February 14.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $286.96 per tonne on Friday, up from $284.44 per tonne one week ago - the first upwards movement for several weeks.There were no deals heard f...Read More

Turkish steel producers have continued their deep-sea scrap purchases for March shipment at slightly higher prices at the end of the week, sources told Fastmarkets on Friday February 14.A steel producer in the Izmir region booked a Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (80:20) at $274 per tonne cfr.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:...Read More

UK suppliers of steel scrap to domestic consumers have fallen for the latest monthly settlements for February delivery, paring most of the gains made since November on weaker demand and lower prices for European scrap into Turkey and the Indian subcontinent, sources said on Thursday February 13.February contracts were down by ?25 ($32) per tonne, after climbing ?35 per tonne over the three month...Read More

Seaborne iron ore prices were rangebound on Friday February 14, while there were more transaction for low-grade iron ore fines at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.67 per tonne, up $0.11 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $88 per tonne, up $0.11 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $89.79 per tonne, up $0.05 per tonne. 58% Fe f...Read More

Seaborne coking coal prices moved up on Friday February 14, defying the pessimism in the market resulting from the outbreak of the novel coronavirus (2019-nCoV) in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.43 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $161.28 per tonne, up $0.55 per tonneHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard...Read More

The three-month zinc price on the London Metal Exchange was lower during morning trading on Friday February 14, with positive price action stymied by a fresh inflow of some 2,475 tonnes, while ongoing drawdowns in aluminium failed to bolster its falling price.Zinc's outright price on the LME was recently seen at $2,150 per tonne, down by just under 1% from Thursday's closing price of $2,175 per to...Read More

China's domestic hot-rolled coil prices continued to fall on Friday February 14 on low demand, though participants in the export market are holding out for a rebound once the novel coronavirus (2019-nCoV) outbreak comes under control.DomesticEastern China (Shanghai): 3,460-3,480 yuan ($496-499) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, down 40 yuan per to...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Index futures were virtually unchanged following release of January Retail Sales at 8:30 AM EST. Consensus was an increase of 0.3% versus a gain of 0.3% in December. Actual was a gain of 0.3%. Excluding auto sales, consensus for January Retail Sales was an increase of 0.3% versus a gain o...Read More

Deliverable stocks for all base metals except tin and nickel in Shanghai Futures Exchange-approved warehouses soared in the week to Friday February 14 because downstream operations have not fully resumed after the Lunar New Year holiday due to the outbreak of the novel coronavirus (2019-nCoV) in China.Copper registered the biggest inflow of 56,484 tonnes or 27.4%, taking total SHFE-approved stocks...Read More

The LME Week Asia 2020 seminar has been postponed and the LME Asia Dinner has been canceled, due to the coronavirus outbreak, the London Metal Exchange said on Friday February 14. "Against the backdrop of the novel coronavirus, HKEX Group has made the difficult decision to cancel the LME Asia Dinner and postpone the LME Asia Seminar," the exchange said in a notice to members. "This decision has be...Read More

With no let-up in the number of coronavirus (2019-nCov) infections in China, the market is this morning, Friday February 14, waiting for signs that the virus is being contained. In the meantime, it seems as though equities are riding high on the back of China monetary stimulus measures, while the metals markets are more aware that the disruption to production and demand will have a mixed impact co...Read More

An overview of the minor metals markets and the reasons behind the latest price moves.Read More