Here are five Fastmarkets stories you might have missed on Thursday September 10 that are worth another look.Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by...Read More
Domestic prices for hot-rolled coil remained fairly stable day on day in Northern Europe on Thursday September 10, following a substantial increase a day earlier, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.15 ($561.29) per tonne on Thursday, down by just ?,?0.10 per tonne from ?,?476.25 per tonne on Wednesda...Read More
"I don't know."It's a phrase I wish more folks would embrace.Particularly when it comes to COVID.Last week, a colleague of mine asked me if I thought the COVID situation was overblown.How could I possibly know such a thing?I'm not a doctor.I have no experience in data analysis when it comes to infectious disease outbreaks.I barely squeaked out a passing grade in Biology, and it took me three attem...Read More
Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
In the latest issue of Insights, we assess what a Biden presidency could mean for North American stocks. It is a topic I explore in depth with Jim Goddard in my latest Howe Street interview. The newsletter also highlights an interview with Real Vision CEO Raoul Pal who remains concerned about the outlook for markets. Click here to read. Read More
Brazilian imports of flat and long steel decreased year on year in August amid increased prices in China, according to figures released by the country's economy ministry early this week.Imports of flat steel products dropped by 30.3% year on year in August, to 66,302 tonnes from 95,116 tonnes a year before. In comparison, Brazilian imports of flat steel products...Read More
Prices for domestic steel reinforcing bar in the United States rose for the first time since January, after buyers mostly accepted mills' price increases. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), fob mill US climbed to $29.25 per hundredweight ($585 per short ton) on Wednesday September 9, up by 4.5% from $28 per cwt previously, where the price had remained since mid...Read More
Imported steel billet prices increased again in Egypt this week because of higher offer prices, sources told Fastmarkets on Thursday September 10.No bookings were heard during the week, however, because of ebbing end user demand amid weak domestic construction activity, Egyptian sources said.Construction in Egypt has been slow since a construction ban was imposed in the country on May 25, which is...Read More
The Turkish steel mills took a break from deep-sea scrap purchases after booking a number of cargoes at stronger prices earlier in the week, sources said on Thursday September 10.The steel producers in the country have booked six deep-sea cargoes so far this week, totalling around 200,000 tonnes. This activity was supported by improving demand for billet and long steel products in the...Read More
Iron ore prices in the seaborne market fell further on Thursday September 10, with market sources saying that although the fundamentals of iron ore remained stable, the high levels of steel inventories dragged prices downward.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $126.09 per tonne, down by $0.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.15 per tonne, down by $0.68 per t...Read More
Brazilian ferrous scrap exports fell both year on year and month on month in August while suppliers shifted their focus to the domestic market, data published this week by the country's ministry of the economy shows.Scrap exports reached 55,377 tonnes in August, a 19.7% year-on-year decrease from 69,000 tonnes in 2019 and a 27.6% drop in comparison with 79,460 tonnes in July of this year.The count...Read More
Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
Rob McEwen recaps goings on at McEwen Mining and discusses some of the juniors he has invested in. Rob McEwen, the chairman and CEO of McEwen Mining Inc. (MUX:TSX; MUX:NYSE ) and founder and former chairman and CEO of Goldcorp, doesn't mince words. "In the last year, what we went through at McEwen Mining could almost be described in Biblical terms: we had a fire, a flood and COVID is sort of a pl...Read More
Goldcliff Resource Corp. reported the Ainsworth silver district located near Kaslo, British Columbia, historically produced 93 million ounces of silver. Vancouver-based Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) reported in a news release that it plans to reactivate exploration efforts at the Ainsworth silver property located near Kaslo, B.C., Canada. Read More
While StrikePoint Gold is waiting for assay results from its Willoughby project, it is shifting its focus to the Porter Silver property. In a news release, StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) announced that while it awaits assays from phase 1 drilling at its Willoughby gold-silver project, it will explore for new and extension veins at its Porter silver property, both in British Columb...Read More
HighGold Mining reports results of the first two holes of a 15,000 meter drill program at the flagship Johnson Tract Project. High Gold Johnson TractHighGold Mining Inc. (HIGH:TSX.V; HGGOF:OTCQX) intersected wide intervals of high-grade mineralization in the first two drill holes of its 2020 program at its flagship Johnson Tract project in southcentral Alaska, it announced in a news release. Both...Read More
"This is the most significant mineralized zone discovered on surface at Shovelnose," Westhaven Gold reported. Westhaven Gold Corp. (WHN:TSX.V) announced in a news release that grab samples, taken from the Franz vein zone it discovered last week at its Shovelnose project in British Columbia's Spences Bridge Gold Belt, returned significant gold and silver assays.The highlights are from samples V074...Read More
Brazilian ferrous scrap exports fell both year on year and month on month in August while suppliers shifted their focus to the domestic market, data published this week by the country's ministry of the economy shows.Scrap exports reached 55,377 tonnes in August, a 19.7% year-on-year decrease from 69,000 tonnes in 2019 and a 27.6% drop in comparison with 79,460 tonnes in July of this year.The count...Read More
Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
China's coking coal import quotas have changed the dynamics of the seaborne market, making the trading of the steelmaking raw material more risky, time-consuming and expensive for traders.What was typically a month-long process for a vessel carrying Australian coking coal to deliver to China has stretched to at least four months after import quotas became scarcer and port restrictions became tight...Read More