Turkish domestic scrap prices have continued to increase over the past week in line with the strengthening domestic rebar market, sources said on Monday June 8.The domestic rebar market in Turkey has been improving in the past couple of weeks amid the easing in the restrictions under Covid-19 measures, Fastmarkets was told.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) dome...Read More

Despite active trading, seaborne premium hard coking coal prices dropped on Monday June 8 because of concerns over import restrictions in China and weak ex-China demand.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.34 per tonne, down $1.65 per tonne Premium hard coking coal, cfr Jingtang: $115.28 per tonne, down $1.24 per tonneHard coking coal, fob DBCT: $87.25 per ton...Read More

Iron ore prices surged on Monday June 8 following Vale's suspension of its Itabira complex, despite its iron ore fines guidance being unchanged, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $105.67 per tonne, up $4.93 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.65 per tonne, up $5.41 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $94.53 per tonne, up $5....Read More

Exports of ferrous scrap from Japan jumped by 46.3% year on year in April amid strong demand from Vietnam and Taiwan, according to statistics from the East Asian nation's finance ministry. The country exported a total of 903,016 tonnes of scrap in that month, compared with 617,333 tonnes a year earlier.April's exports are the highest since May 2013; the country shipped 928,040 tonnes abroad in Apr...Read More

International trade protection measures continued to loom large over global steel markets over the past year - to which the impacts of the Covid-19 pandemic have created further challenges. Alongside Fastmarkets' annual ranking of steelmakers by output, our correspondents around the world review developments in their regional steel sectors Right now, most steelmakers will have much more on their m...Read More

Seaborne iron ore concentrates and pellet transactions were limited in the week to Friday June 5 after prices surged in the wake of higher iron ore fines values.Fastmarkets' index for iron ore 66% Fe concentrate, cfr Qingdao, stood at $112.63 per tonne on June 5, up $6.31 per tonne from $106.32 per tonne a week earlier. Whereas the weekly average of the Fastmarkets' index for 65% Fe Brazil-origin...Read More

Chinese ferrous scrap prices moved up over the past week on strong demand and tight supply, but market participants do not expect prices to rise further due to the upcoming rainy season, when downstream consumption typically slows.Fastmarkets' weekly price assessment for steel scrap heavy scrap domestic, delivered mill China was at 2,550-2,630 yuan ($360-371) per tonne on Friday June 5, up by 30-7...Read More

China's hot-rolled coil prices rallied on Monday June 8 after declining in the latter half of last week, amid concerns over iron ore supply as a result of Brazilian miner Vale being told to suspend part of its operations.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($515-518) per tonne, up 40-50 yuan per tonneA Shanghai-based trader said trading picked up in the domestic market after HRC fut...Read More

China's rebar prices moved up in both the domestic and export markets on Monday June 8 amid rising concerns over iron ore supply from Brazil's Vale.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($512-516) per tonne, up by 30 yuan per tonneSpot rebar prices built on the early-hour gains of rebar and iron ore futures in response to news of Vale's Itabira mining operations being suspended towar...Read More

Base metals prices were mixed this morning, Monday June 8, after a positive performance on Friday following the surprisingly strong employment report in the United States.Asian-Pacific equities, although stronger this morning, were not up by the same extent as western equity indices were on Friday. China's exports rose by just 1.4% year on year in May after rising by 8.2% in April. Imports fell by...Read More

Vale is maintaining its iron ore fines production guidance for 2020 despite suspending operations at its Itabira mining complex from Friday June 5 to support the fight against Covid-19, it said over the weekend.Its iron ore fines production guidance of 310-330 million tonnes in 2020 will remain unchanged because the loss of 15 million tonnes due to the Covid-19 pandemic has already been considered...Read More

The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt...Read More

The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt...Read More

Bearish sentiment strengthened in China's silicon export market after plants in southern China gradually restarted operations amid a weak overseas demand, sources said.Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,370-1,430 per tonne on Friday June 5, down by $20 per tonne (1.4%) from $1,390-1,450 per tonne a week earlier. China's silicon export price stre...Read More

Spot cobalt hydroxide payables came off their recent highs during the second half of last week with consumers having completed the bulk of their recent restocking drive. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China stood at 65-66.5% of the standard-grade metal price (low-end) on Friday June 5, narrowing downward from 65-67% on June 3."Everyone is taking a pause to take th...Read More

An overview of the Chinese minor metals markets and the reasons for their latest price moves. (Due to a technical error, the new price for...Read More

Novagold Resources (TSX: NG; NYSE-AM: NG) has hit back against a report from J Capital Research released late May that accused managers of the Vancouver-based explorer of "systematically" misleading investors about its proposed Alaska gold mine over the last 15 years.J Cap, a company founded in China a decade ago that usually targets overvalued media and tech companies for short-selling, said the...Read More

Barrick Gold (TSX: ABX; NYSE: GOLD) has denied claims that it sought to unlawfully export gold from the Porgera mine in Papua New Guinea that it jointly owns with China's Zijin Mining.On June 5, Papua New Guinea's mining regulator accused Barrick Niugini - the operator of the mine - of seeking to illegally export US$13 million in silver and gold to Australia. The country's Mineral Resources Author...Read More

With the diamond trade still largely shut down due to the coronavirus pandemic, Mountain Province Diamonds (TSX: MPVD; US-OTC: MPVD) has found a way to bring in much-needed revenue with a $50-million sale of rough diamonds to a company owned by its largest shareholder.The first $22 million worth of diamonds is expected to be sold on June 11 to Dunebridge Worldwide after a binding agreement between...Read More

Eldorado Gold (TSX:ELD; NYSE:EGO) has started construction of a US$24-million tunnel at its sole Canadian operation, the Lamaque gold mine in Quebec, which will allow the company to grow production and reduce energy use.The Vancouver-based miner, which kicked off commercial production at Lamaque last year, said the fully permitted decline project will connect the Sigma mill and the 405 metre level...Read More