Turkish steel mills have been busy in the deep-sea scrap market in recent weeks and booked four more cargoes totaling more than 150,000 tonnes on Wednesday September 9, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $301 per tonne cfr, 12,000 tonnes of shredded at $306 per tonne and 8,000 tonnes of bonus at $311 per ton...Read More
Novolipietsk Steel (NLMK), the largest steel producer in Russia, has stopped iron ore concentrate output at its Stoilensky mining and processing plant due to an accident, which occurred on September 7, Fastmarkets understands.NLMK receives all its required iron ore concentrate from the asset, which is why both its pig iron and steel production are under threat, sources told Fastmarkets. "On Septem...Read More
Japanese export steel scrap prices jumped on Wednesday September 9 following a strong increase in the Kanto auction for the second month running, market sources told Fastmarkets.Japan's Kanto Tetsugen, a monthly auction between a cooperative of scrap dealers in the Tokyo region, closed at ?29,370 ($276) per tonne fas on Wednesday, up by ?2,154 per tonne from the previous month.August's auction p...Read More
Iranian exporters of steel slab have managed to win deals at higher prices in the recent round of sales, supported by favorable conditions in the Asian market amid growing costs for finished flat steel products.Fastmarkets' weekly price assessment for steel slab, export, fob ports Iran, was $432 per tonne fob on Wednesday September 9, up from $415-425 per tonne.Khouzestan Steel, which is one of th...Read More
Steel billet producers in the Commonwealth of Independent States continued to raise their offer prices for foreign customers in the week ended Wednesday September 9 following the recent uptick in Turkish import scrap prices.On Tuesday, Turkish import scrap prices exceeded $300 per tonne on the strength of the rebar and billet markets.A steel mill in the Marmara region booked a Baltic Sea cargo, co...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More
The prices of hollow steel sections in Europe were unchanged this week, despite feedstock costs continuing to rise, market sources told Fastmarkets on Wednesday September 9.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?550-570 ($649-672) per tonne on Wednesday, as it was on September 2.The price of hot-rolled coil (HRC), the feedstock for se...Read More
UrbanGold Minerals plans to expand drilling at its Pallador Main project located in Troilus-Frotet, Quebec, after it identified two new high priority gold soil targets. Ottawa-based precious metals exploration company UrbanGold Minerals Inc. (UGM:TSX.V) announced in a news release, that "it has received a detailed interpretation report of the soil B-horizon sampling completed earlier in the summe...Read More
Dolly Varden Silver begins using a second rig at the project for discovery-focused exploration. In a news release, Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCMKTS) announced it is expanding the current drill program at its Dolly Varden property in northwestern British Columbia."We are prepared to continue exploring through the fall season with the purpose of maximizing the results of our drill...Read More
Peter Krauth profiles three junior mining companies that he believes hold the potential to produce stellar results. So far this year, the S&P 500 is up 6%. Considering the massive challenges we've faced, that's not bad.By comparison, gold has clocked stellar returns. It's up 26% year-to-date.But a small subsector of the gold space has far outpaced even gold's returns.Imagine making 19 times your...Read More
Turkish export prices for steel pipe products have increased over the past month, in line with growing demand and rising raw material costs, sources said on Wednesday September 9.Fastmarkets' monthly price assessment for steel structural pipe, export, S235JR grade, EN10219, 2mm wall thickness, fob main port Turkey, was $575-580 per tonne on Wednesday, up from $555-575 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 9 that are worth another look.From learning early about the practicalities of running a business during summer-holiday work to her role as chief executive officer of Norwegian aluminium and energy company Norsk Hydro, Hilde Merete Aasheim has faced many challenges...Read More
Global tin premiums were stable in the two weeks to Tuesday September 8; a drop in the metal's three-month price on the London Metal Exchange did not drive spot buying, while volatile forward spreads, stagnant demand and supply concerns continued to limit business, Fastmarkets understands.US market sees little evidence of a demand increaseFalling LME price fails to drive European businessImport ar...Read More
Despite broad stability in global zinc premiums this week, and a sharp drop in the metal's three-month price on the London Metal Exchange, an opening of the import arbitrage window for material delivered into China sparked expectations for improved demand in the region. Zinc markets in the United States and Europe were also generally stagnant this week, while a steady recovery in the US econo...Read More
Iranian exporters of steel slab have managed to win deals at higher prices in the recent round of sales, supported by favorable conditions in the Asian market amid growing costs for finished flat steel products.Fastmarkets' weekly price assessment for steel slab, export, fob ports Iran, was $432 per tonne fob on Wednesday September 9, up from $415-425 per tonne.Khouzestan Steel, which is one of th...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 9 that are worth another look.From learning early about the practicalities of running a business during summer-holiday work to her role as chief executive officer of Norwegian aluminium and energy company Norsk Hydro, Hilde Merete Aasheim has faced many challenges...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 9.Please click...Read More
The three-month price for copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday September 9, settling above nearby resistance on steady afternoon buying, while lead fell by more than 1% over the day to close below nearby support levels.Copper's outright price on the LME closed at $6,734 per tonne on Wednesday afternoon, climbing by a little less than 0...Read More
Nickel premiums in China continued their ascent in the week to Tuesday September 8 after demand strengthened while premiums in the United States fell after demand weakened in the region, sources told Fastmarkets. China NPI, nickel sulfate prices rose anew amid robust demandUS nickel briquette premiums widened down with stainless demand feebleEuropean premiums held in an illiquid spot market, with...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More