Turkish steel mills were still booking deep-sea scrap at stable prices at the start of the week while negotiations for further transactions continued, sources said on Monday September 23.A steel producer in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $233 per tonne, 4,000 tonnes of shredded at $238 per tonne and 4,000 tonnes of bonus at $243 per tonne cf...Read More

Here are five Fastmarkets MB stories from Monday September 23 that are worth another look.China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on September 23.Faced with high and increasing emissions costs during a period of challenging market conditions, the steel indus...Read More

China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on Monday September 23. The latest quota, permitting less shipments than in the previous three releases, brings the total volume of copper scrap imports allowed into the country in the second half of 2019 to 484,767 to...Read More

First Quantum, owner of Kansanshi copper mine, is in discussions to sell part of its stake in Zambian copper assets to leading Chinese copper producer Jiangxi Copper, the miner said on Monday September 23. The Toronto-listed miner said the potential sale of a minority interest in its Zambian copper asset is ongoing and no transaction has been agreed at this stage. It did not disclose which asset i...Read More

The spot copper concentrates treatment and refining charge (TC/RC) index rose for the third week in a row on Friday September 20 after extra Grasberg tonnages were offered in the market amid limited smelter appetite, with the market viewing this as a potential turning point for spot terms ahead of annual benchmark negotiations. Fastmarkets' benchmark copper TC/RC index cif Asia Pacific rose t...Read More

The three-month nickel price on the London Metal Exchange rose by 1.8% during morning trading on Monday September 23 after more than 19,000 tonnes of material was freshly canceled out of LME-listed warehouses. The nickel futures price recently traded at $17,690 per tonne, rising from Friday's closing price of $17,455 per tonne. One driver of the uptick was the fresh cancellation of 19,650 tonnes o...Read More

Base metals prices on the Shanghai Futures Exchange were largely down during the morning trading session on Monday September 23, with risk sentiment deteriorating following negative developments in United States-China trade negotiations.The latest face-to-face talks in Washington between trade negotiators from both the US and China at the end of last week seem to have failed to yield any fruitful...Read More

The federal court in Bel?(C)m, Brazil, has lifted one of the embargoes on Alunorte's new bauxite residue deposit area, producer Norsk Hydro announced on Friday September 20. An embargo was put in place at Hydro's Alunorte alumina refinery on March 1, 2018, to suspend the use of the solid waste deposit 2 (DRS2). The first embargo lifted was under a civil lawsuit but Alunorte is still subject to a s...Read More

China's domestic hot-rolled coil prices rebounded on Monday September 23 with market participants expecting a supply drop due to production cuts, while exporters remained relatively conservative amid fierce competition from abroad.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($515-517) per tonne, up 50-60 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, up 40-60 yuan per tonneB...Read More

The Triple R deposit contains five mineralized zones over a length of 3.18 km. (Image: Fission Uranium)SASKATCHEWAN - Fission Uranium of Kelowna, B.C., says the results of the pre-feasibility study for on an underground only development represent a savings in both capex and construction time for the Triple R deposit compared to an earlier study of both open pit and underground mining.The PFS for F...Read More

China's rebar prices moved up on Monday September 23 after news broke that a few steelmaking regions would restrict production from this week. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($516-520) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,570-3,610 yuan per tonne, up 20 yuan per tonneLocal authorities in Tangshan are tightening steelmaking restrictions ahead of the countr...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

Competitive prices of Russian cargoes softened hot-rolled coil prices in Asia over the past week, though the rate of decline are likely to slow down from this week with Indian offers gaining some stability, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HRC import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold i...Read More

Offer prices for Turkish rebar to Singapore fell again in the week to Monday September 23, due to weak scrap prices....Read More

Import prices for steel slab in Southeast Asia and East Asia breached the psychological floor of $400 per tonne for the first time since July 2017 on Monday September 23 amid weakness in the downstream hot-rolled coil market.A producer in the Commonwealth of Independent States sold 40,000 tonnes of slab to Southeast Asia at $400 per tonne cfr during the week to Monday.After the transaction at $400...Read More

RAPAPORT... BlueRock Diamonds, which owns the Kareevlei mine in SouthAfrica, has sold a 10.6-carat rough diamond for $103,000 at its Septembertender. The stone, fetching $9,571 per carat, is the sixth diamond the miner has sold this yearfor more than $50,000. Those goods have brought in $600,000 combined. "The recovery and sale of yet another high-value diamondcontinues to underpin the...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More

RAPAPORT... The Indian government has lowered the rate of goods and services tax(GST) for certain diamond work in a move that will help buoy the struggling sector, the nation's Gem & Jewellery Export Promotion Council (GJEPC) said. GST on diamond "job work" - manufacturing or otheractivities that a company outsources to a third party, such as diamond cuttingor jewelry making - will drop t...Read More

(IDEX Online) - Former Diamond Trading Company group sales operations CFO Richard J. Whitby has joined ALTR Created Diamonds as CFO. Whitby spent more than a decade working for De Beers. "Lab-grown diamonds are a major innovation that is breathing new life into the diamond industry, and I look forward to applying my expertise to the future of this field at this exciting time," Whitby said in...Read More

(IDEX Online) - The Indian government has announced a 3.5-percent cut in the Goods and Service Tax (GST) on work related to diamonds to 1.5 percent. The move is an attempt to shore up the ailing diamond industry.According to the Business Standard, the cut is expected to release Rs 1,500 crore ($212 million) in blocked working capital into the pipeline. The government made similar cuts for the...Read More