The three-month copper price on the London Metal Exchange was down during morning trading on Friday August 2, falling to its lowest level since June 10, while zinc futures shed 1.4% of Thursday's gains. Copper futures were recently trading just over $5,800 per tonne this morning, falling by more than 3% from levels seen last week, when copper's three-month price was trading above $6,000 per tonne....Read More

China imported 52.6 million tonnes of bauxite in the first six months of 2019, up by 30.2% year on year, according to official but unconfirmed data seen by Fastmarkets. This compares with the 40.4 million tonnes imported in January-June 2018. The increase was largely attributed to supply tightness in the Chinese domestic market, resulting from supply-side disruptions amid frequent environmental in...Read More

Domestic rebar prices in Poland rose during the past week, supported by an anticipated increase in ferrous scrap costs, sources told Fastmarkets on Friday August 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 2,100-2,120 zloty ($540-545) per tonne on August 2 compared with 2,070-2,120 zloty per tonne a...Read More

The domestic price of Brazilian rebar has shown another drop for August deliveries because the scrap price downtrend has intensified, smaller competitors were aggressive about granting discounts, and overall long-rolled steel consumption in the country went down.Fastmarkets assessed the price for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, at 2,300-2,400 Reais ($601-627) pe...Read More

Soaring iron ore prices have pushed Chinese hot metal costs up above those for ferrous scrap over recent months, stimulating greater use of the secondary raw material, according to calculations by Fastmarkets' research team. Fastmarkets' Steel Cost Service updates for the first and second quarters of 2019 detail average global integrated (BOF-route) plant's crude steel costs rose to an average of...Read More

Turkish hot-rolled coil and cold-rolled coil prices were mostly stable over the week ended on Friday August 2 due to the summer slowdown and a reduction in end-user consumption, sources told Fastmarkets.HRC exportsTurkey's export price for HRC was stable with only one deal heard, sources said.Fastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was at $500-505 per tonn...Read More

Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil decreased over the week ended Friday August 2, with demand reported to be weak in both the local and export markets.Coated coil producers started to give discounts because of the slow market activity.Domestic pricesDemand in the country's local market was soft over the pricing week due to the summer holiday season.One produc...Read More

China's rebar futures fell on Friday August 2 after United States President Donald Trump threatened to impose a 10% import duty on $300 billion worth of Chinese goods from September 1, which pushed down spot prices for the long steel product. Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($554-558) per tonne, down 60-70 yuan per tonneNorthern China (Beijing): 3,750-3,780 yuan per tonne, down...Read More

China's hot-rolled coil sellers lowered their prices on Friday August 2 following a decline in the futures market, with sentiment deteriorating after United States President Donald Trump threatened to impose a new tariff on Chinese goods.DomesticEastern China (Shanghai): 3,760-3,770 yuan ($545-546) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,780 yuan per tonne, down 30 yuan per to...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, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

Global diamond producer De Beers Group is most proud of the “energy change” its inclusion and diversity strategy has instigated throughout its value chain – from mining to retail, says De Beers social impact senior VP Katie Fergusson. “We are still early in the journey, but we are making visible progress,” she tells Mining Weekly, noting that more than 30% – fou...Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe highest grade hit was 170m at 0.63% copper, 0.26 grams per tonne gold and 3.94gpt silver from 79m, while the widest hit was 207m at 0.3% copper, 0.61gpt gold and 1.87gpt silver.Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithium"The Kamoa-Kakula system in the Democratic Republic of Congo is so large, we're like a little ant riding on the back of an elephant," Friedland said of the 25-year project Ivanhoe's February 2019Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumSouthern Copper wants to build an openpit mine to produce 120,000 tonnes per year of copper for 20 years. Upon receipt of the construction licence, Southern said it would not start development until it had support from local communities.For the past three weeks, those communities have been making it very clear they...Read More

UK and European alloy steel scrap prices have increased over the past week due to higher nickel costs, sources told Fastmarkets on Friday August 2.The price of nickel, 3 months, London Metal Exchange Daily Official, was $14,520-14,525 per tonne on August 2, up from $14,100-14,125 per tonne on July 26.As a result,...Read More

The inter-merchant spot market for UK light iron was stable over the week to Friday August 2, extending the steady trend into a sixth week, in line with persistently limited volumes of material being made available to major processors, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?80-100 ($97-12...Read More

The price of shredded ferrous scrap imported into India has fallen for a third week to its lowest so far this year on poor market conditions, sources told Fastmarkets on Friday August 2.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $308.75 per tonne on August 2, down from $311.50 per tonne on July 26.Offer prices for shredded scrap moved...Read More

Turkish steel producers have ended the week without making any deep-sea scrap purchases because of the weak demand for finished long steel products and billet, sources said on Friday August 2.Offers from the Baltic Sea region were heard around $295 per tonne cfr for HMS 1&2 (80:20) but customers in Turkey were not interested in prices at that level yet."Turkish mills do not want to buy scrap befor...Read More

Gerald Group subsidiary SL Mining has halted iron ore exports from Sierra Leone's Marampa mine to comply with a request from the new mining ministry, which is reviewing the terms of the current license agreement, Gerald told Fastmarkets on Friday August 2. Production at Marampa stopped on July 3 after a temporary suspension order issued by the new Minister of Mines and Mineral Resources, Foday Rad...Read More

Sentiment in financial markets has weakened further after US president Donald Trump announced the United States will impose a 10% tariff on $300 billion of Chinese goods from September 1. This sent equities scurrying for cover with the Nikkei, Hang Seng and CSI 300 off by an average of 2.2% on the morning of Friday August 2. The Dow Jones Industrial Average closed down by 1.05%. Gold prices r...Read More