The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More

Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More

The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More

An overview of the battery raw materials markets and their latest price moves.Read More

The recovery seen earlier this week in Turkish deep-sea scrap import prices was short-lived and they went down to their previous levels in the latest transactions heard on Friday October 4.A Turkish steel mill in the Marmara region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $223.50 per tonne cfr.Another steel mill in the Izmir region booked a US cargo at $228.50 per tonne cf...Read More

Brazilian mining company Vale expects to ramp up mine production at its On??a Puma nickel project in the northern state of Par?? throughout the first half of 2020 and reach 100% capacity by July, it said in a presentation to analysts and investors on Wednesday October 2. The smelter at the site will not depend on the restart of mining operations, however, because it will be fed by stocked nickel o...Read More

Canadian mining company Strongbow's investment in the South Crofty tin mine in Cornwall - an internationally famous tin mine in the south-west of England, with a long heritage - is for the long term, reports Hassan Butt.South Crofty is expected to deliver about 5,000 tonnes per year of tin when it becomes fully operationalSTRONGBOWThe South Crofty tin mine was once a centerpiece of the economy in...Read More

Spot terms for processing copper concentrates rose at an accelerated pace in the first week of October on improved concentrates availability, while smelters are well covered with contractual deliveries and miners are eager to sell more volumes via tender.Fastmarkets' benchmark copper TC/RC index cif Asia Pacific rose to $54.1 per tonne/ 5.41 cents per lb on Friday October 4. The index, which track...Read More

London Metal Exchange chief executive Matthew Chamberlain spoke to Metal Market Magazine editor Richard Barrett about how he almost missed the opportunity to advise Hong Kong Exchanges & Clearing on its acquisition of the bourse.Matthew Chamberlain joined the London Metal Exchange in 2012, having previously advised Hong Kong Exchanges & Clearing on the acquisition of the LME while working for bank...Read More

A very simplistic summary of the LME's approach to responsible sourcing is that it uses the Organization for Economic Co-operation & Development(OECD) red flag scheme and a phased introduction of transparency, but Matthew Chamberlain is keen to explain the "two big philosophical pillars behind it."The first is about establishing the LME's role in delivering responsible sourcing. "There are some in...Read More

A recurring theme throughout the multiple consultations undertaken on Matthew Chamberlain's watch to make progress along the London Metal Exchange's strategic pathway has been a goal of creating fairness between different types of member and market user with differing goals and agendas of their own. Does Chamberlain think that the exchange has achieved the right balance between the differing aims...Read More

ASX-listed Newfield Resources has completed the blasting of the boxcut for the portal access to the underground declines at its Tongo diamond mine, in Sierra Leone."Work is now focussed on providing the necessary support of the boxcut and shaping of the haul road to attain the right angle of entry into the decline.Advertisement"With the recent signing of the lease agreement for the minin...Read More

Flat steel import prices were caught once again in the continuous global downtrend during the past week, as market participants await for Chinese offers to resume after the Golden Week and material from other origins was sold at lower levels.Fastmarkets assessed the price for steel hot-rolled coil import, cfr main ports South America, at $465-490 per tonne on Friday October 4, down from $480-500 p...Read More

Brazilian slab export prices fell this week amid widespread pessimism and buyers' low expectations.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was at $370-380 per tonne fob on Friday October 4, down $30 per tonne from $400-410 per tonne fob a week earlier.Regular offers were at $375-380 per tonne fob aimed at the US market, according to market participants.Pr...Read More

The government of Lesotho has renewed the mining lease for LSE-listed Gem Diamonds' Lets?OEeng mine for ten years.This followed a statutory negotiation process between Gem and the Lesotho Mining Board.Advertisement"Gem Diamonds is proud of our long-standing partnership with the government and the people of Lesotho. The mining lease renewal will allow the Lets?OEeng mine to conti...Read More

The latest attempt by steel mills in Brazil to impose an increase in the domestic price of rebar has managed to stop a previous freefall seen in late September, although the rise that was implemented was smaller than was intended, Fastmarkets heard on Friday October 4.Fastmarkets' latest price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,165-2,300 Reais...Read More

Turkish prices for hot-dipped galvanized coil (HDG) and pre-painted galvanized iron (PPGI) fell in the week to Friday October 4, with demand remaining weak, sources have told Fastmarkets.Prices for hot-rolled coil, the base product for coated coil, have been coming down recently, and coated coil prices were expected to follow soon.Domestic pricesDemand in the country's local market was poor over t...Read More

Lawyers and activists have warned about the rising modern global slave trade, saying that millions of modern slavery victims are exploited in global supply chains.They are enslaved across the spectrum, from farming, domestic work and construction to clothing factories, mines, the beauty industry and the cleaning industry, says Australia-based legal expert Frazer Hunt.  AdvertisementHe told th...Read More

Domestic rebar prices in Poland have decreased over the past week because of the expected fall in scrap prices this month, sources told Fastmarkets on Friday October 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 1,960-2,000 zloty ($495-505) per tonne on October 4, down by 80-100 zloty per tonne over the week from 2,060-2,080 zloty per tonne.The...Read More

Turkish prices for hot-rolled and cold-rolled coil (HRC, CRC) have continued to fall over the past week on low demand, sources told Fastmarkets on Friday October 4.Demand was unlikely to improve in the coming weeks because of the current weak prices for steel and raw materials, Fastmarkets heard.HRC exportsFastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $420-4...Read More