A correction has been issued for this article.The...Read More
Steel H-beam prices in Europe remained flat this week despite more producers announcing fresh increases, sources told Fastmarkets on Wednesday September 30.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?530-570 ($620-667) per tonne on Wednesday, unchanged week on week."The market is a bit tricky - prices increase, but demand is low," a trader...Read More
(IDEX Online) - BlueRock reported a first-half operating loss of $1.9m but revealed plans to more than double production at its Kareevlei mine, in South Africa.The UK-based miner was forced to halt operations for seven weeks because of COVID-19, but mitigated losses through an agreement with brokers Bonas-Cousyns to sell its diamonds in Antwerp and achieve higher per-carat prices.BlueRock said it...Read More
(IDEX Online) - A struggling artisan in India found a 30-carat bag of diamonds, worth over $12,000 . . . and handed them back to their owner.Rajesh Rathod admitted he did consider keeping the gems to sell after stumbling upon them near a diamond market in Varachha, Surat, on 25 September.The coronavirus pandemic has seen his wages working in the diamond industry almost halved to around a $12...Read More
The stainless steel scrap market in the United States has continued to deteriorate amid weakening nickel prices, with the official nickel cash contract on the London Metal Exchange declining by nearly 60 cents per lb over the month of September.Scrap processors and dealers reported a severe lack of supply, with many industries either shut down or greatly reducing production.The major stainless con...Read More
Turkish steel producers extended their absence from the deep-sea scrap market amid weak finished steel demand, sources said on Wednesday September 30.Two Baltic Sea cargoes of HMS 1&2 (80:20) were sold to Turkey at $296 per tonne cfr late last week, were the first deals heard since September 9, when the price was $301 per tonne cfr. ...Read More
Bangladeshi conglomerate Bashundhara Group has decided to build a large steelmaking furnace that will boost the country's demand for imports of scrap steel over the coming years, sources have told Fastmarkets.Bashundhara will start work in January 2021 on a three-factory steelmaking complex to be located in a new economic zone in Mirsarai, Chattogram, according to a Bangladeshi steelmaker source.T...Read More
Seaborne iron ore prices gained ground on Wednesday September 30 following the rise in futures prices, while the decrease in steel inventories and China's increasing manufacturing purchasing managers' index (PMI) also supported prices, according to sources. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.47 per tonne, up $5.86 per tonne62% Fe low-alumina fines, cfr Qingdao: $123.49 per...Read More
Seaborne coking coal prices across the board were relatively stable on Wednesday September 30 while the Golden Week holiday (October 1-8) in China approaches, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.55 per tonne, up $0.07 per tonne Premium hard coking coal, cfr Jingtang: $145.10 per tonne, up $0.13 per tonneHard coking coal, fob DBCT: $112.26 per tonne, unchangedHa...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Collahausi, one of the largest copper mines in the world with production of 565,400t in 2019, maintained a high level of performance despite the restrictions related to COVID-19, which forced it toRead More
Base metals prices and Asian-Pacific equities were mixed this morning, Wednesday September 30, although pre-market western equity index futures were weaker following a confrontational and not very presidential first debate between US President Donald Trump and former Vice President Joe Biden, the democratic candidate.China’s official and Caixin manufacturing purchasing managers’ indices...Read More
All base metals, with the exception of lead, recorded further declines of deliverable stocks in Shanghai Futures Exchange-approved warehouses during the week to Wednesday September 30, according to the exchange's weekly inventory report.The decline in inventories for most base metals was mainly to cover production needs during the upcoming Golden Week holiday in China on October 1-7, according to...Read More
London Metal Exchange three-month base metals prices, with the exception of copper and tin, were trading down on the previous day's close on Wednesday September 30, with encouraging Chinese manufacturing data eclipsed by a stronger dollar and continued uncertainty regarding US economic fiscal stimulus. Chinese Caixin Manufacturing purchase managers' index (PMI) data remained in expansionary territ...Read More
Eastern China's rebar prices increased slightly on Wednesday September 30 on stronger demand to end the short working week 20-40 yuan per tonne higher than last Friday.DomesticEastern China (Shanghai): 3,630-3,660 yuan ($533-538) per tonne, up by 10 yuan per tonneNorthern China (Beijing) weekly assessment: 3,570-3,590 yuan per tonne, down by 50 yuan per tonneMild weather and restocking demand ahea...Read More
Base metals prices and Asian-Pacific equities were mixed this morning, Wednesday September 30, although pre-market western equity index futures were weaker following a confrontational and not very presidential first debate between US President Donald Trump and former Vice President Joe Biden, the democratic candidate.China's official and Caixin manufacturing purchasing managers' indices (PMI) were...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.Index futures were virtually unchanged following release of economic news. Consensus for the September ADP Employment Report released at 8:15 AM EDT was an increase to 650,000 from an upwardly revised 481,000 in August. Actual was 749,000. Consensus for final estimate of second quarter a...Read More
Umicore will consolidate its production of battery chemicals in Europe and the United States, the company said on Wednesday September 30.The Belgian specialty chemicals company will move its cobalt refining capacities from the Olen plant in Belgium to the Kokkola refinery in Finland.The move to "one of the largest cobalt refineries globally" will allow "the business unit to produce at a larger and...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt standard grade, in-whs Rotterdam,...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt alloy grade,...Read More