Prices for cold-rolled and galvanized sheet in the United States declined for a fifth straight week after automotive and other factory shutdowns weighed on demand for steel components.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US dropped to $33 per hundredweight ($660 per short ton) on Thursday April 23 from $34 per cwt ($680 per ton) on April 16. Fastmarkets' p...Read More
JOHANNESBURG (miningweekly.com) – Diversified mining company Anglo American reported on Thursday that its first-quarter diamond production in South Africa increased by 97% to 0.8-million carats as the final ore from the opencast Venetia mine in Limpopo was mined prior to transitioning to underground mining,Venetia’s underground mine will extend operational life to 2045.AdvertisementIn...Read More
Apparent steel consumption in Brazil totaled 1.61 million tonnes in March 2020, falling by 11.1% from 1.82 million tonnes in the corresponding month of 2019, the national steelmakers' association, Instituto A??o Brasil, said on Friday April 24.Aside from December, which is a traditionally weaker month for steel demand because of holidays, this was the lowest figure reported since January 2019. Som...Read More
Domestic hot-rolled coil prices in Northern Europe fell on continuing bearish sentiment, sources told Fastmarkets in Friday April 24.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?443.13 ($478.42) per tonne on Friday April 24, down by ?,?3.87 per tonne from ?,?447.00 per tonne on April 23.Official offers have been heard at ?,?455-465 per tonne ex-works, ...Read More
Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said."There is no market right now, no matter the price I offer," a Brazil-based trader source said."Most South American importers are out of the market at the mome...Read More
Indian hot-rolled coil export prices have fallen by about $5-10 per tonne in the past week with mills having begun to sell material to China and South-East Asian countries while domestic market conditions remained gloomy because of a nationwide lockdown.The price of steel HRC (commodity), export, fob main port India, was assessed by Fastmarkets at $375-385 per tonne on April 24, down by $5-10 per...Read More
More Italian steel producers restarted their operations in the week ended Friday April 24, but one French flat steel producer plans to temporarily idle its remaining equipment, Fastmarkets has heard.European steelmakers have been reducing output and temporarily idling equipment due to the poor demand resulting from lockdown orders and other quarantine measures implemented across the region with th...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesSingapore-based commodities trader Aeturnum Energy agreed to take a 19.Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesHow mining companies can reduce equipment purchasing cost and improve qualitySPONSOREDtechnical auditNew World's first drilling at the project was headlined by 5.5m grading 2.5% copper...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesHow mining companies can reduce equipment purchasing cost and improve qualitySPONSOREDtechnical auditMarch quarter production was 91,911 tonnes of copper, down 24% quarter-on-quarter, a...Read More
India's ministry of shipping has revised its order that various shipping-related charges should be waived at all major ports where material is stranded, until the end of the lockdown period in the country, it announced earlier this week.The order, issued on Tuesday April 21, called for all penalty charges, demurrages, and detention and anchorage charges, among others, to be cancelled at all major...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesIn January, Rio earned 51% of the project after spending $11 million on exploration ahead of schedule. The company can move to 65% in the new three years by spending an additional $14 million.Read More
Base metals prices were mixed this morning, Friday April 24, after markets had to absorb weak flash purchasing managers’ index (PMI) data on Thursday, especially in the services sector where readings were 11.7 in the European Union and 27 in the United States, while manufacturing readings were also weak. Broader markets were for the most part weaker this morning with losses seen in Asian-Paci...Read More
The pig iron market in the United States remained inactive during the week to Friday April 24 due to low steel production rates and the resulting reduced need for pig iron.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $290-295 per tonne on Friday, up by $5 per tonne from $285-290 per tonne a week before."Our steel mills are operating at record-low ra...Read More
The price of containerized ferrous scrap imports into India inched lower this week while the market continues to grapple with the fallout of the lockdown period in the country, sources told Fastmarkets on Friday April 24.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $269.13 per tonne on Friday, down from $272.50 per tonne a week earlier.Since lockdown...Read More
The price of alloy steel scrap in the UK and Europe increased this week with tight supply outweighing low demand, Fastmarkets heard on Friday April 24.Both supply and demand in the stainless steel scrap markets have decreased substantially because of the Covid-19 pandemic and the measures taken to combat it.Initially, there were fears of a collapse in the downstream stainless steel market, which.....Read More
The inter-merchant spot price for light iron scrap in the UK has been stable over the past week amid quiet trading activity, while tracking a similar trend in European export markets to Turkey and the Indian subcontinent, sources said on Friday April 24.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, was ?50-60 ($62-74) per tonne on Ap...Read More
Turkish steel producers ended the week with no deep-sea bookings, amid weak finished steel demand and falling steel output due to the Covid-19 outbreak, sources said on Friday April 24.The short working week also kept the mills from making scrap purchases, according to sources.Thursday April 23 marked the National Sovereignty and Children's Day public holiday in Turkey and the country has imposed...Read More
Seaborne iron ore prices were mostly down on Friday April 24 with limited trading activity at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.35 per tonne, down $0.11 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.09 per tonne, up $0.09 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $73 per tonne, down $0.14 per tonne. 65% Fe Brazil-o...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Index futures responded to news that the House of Representatives passed a bill to support workers during the coronavirus pandemic.Index futures were virtually unchanged following release of March Durable Goods Orders at 8:30 AM EDT. Consensus was a drop of 11.9% versus a gain of 1.2% in...Read More