China's domestic and export prices for rebar decreased on Friday April 24 along with the weaker demand. Domestic Eastern China (Shanghai): 3,420-3,450 yuan ($483-487) per tonne, down by 20 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,420-3,470 yuan per tonne, narrowing by 10-20 yuan per tonne week on weekRebar futures traded below Thursday's settlement price of 3,356 yuan per tonn...Read More

China's domestic hot-rolled coil prices fell on Friday April 24 despite futures gains, and participants believe the country could resume importing on lower offers from India and South Korea.DomesticEastern China (Shanghai): 3,280-3,300 yuan ($463-466) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, down 10 yuan per tonneSellers in Shanghai started with offers at 3...Read More

The London Metal Exchange three-month copper price declined during morning trading on Friday April 24, with price action consolidating lower amid slow turnover, while a marginal incline in zinc futures pushed it to close in on nearby resistance levels this morning. LME copper's underlying price was recently trading at $5,115 per tonne, a decline of some $45 per tonne from Thursday's closing price...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-Pacific a...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday April 24.China The UG2 chrome ore market rose for a third consecutive week after buyers were willing to accept higher prices, with a number of concluded deals above and below the new index level The increased chrome ore prices have underpinned domestic ferro-chrome...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the session ending Friday April 24.China The low-grade seaborne manganese ore market surged after the first offers were made since South Africa - the major producer - went into lockdown, with transactions made for late June and July delivery.High-grade ore prices soared...Read More

An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More

China will cut its new energy vehicle (NEV) subsidies progressively between 2020 and 2022, with a 10% reduction planned for this year, the country's ministry of finance announced on Thursday April 23.Compared with the 50% cut to subsidies in 2019, future reductions in principle will be done so at a slower rate of 10% in 2020, 20% in 2021 and 30% in 2022.This comes after Chinese Premier Li Keqiang...Read More

Key data from Fastmarkets' pricing session in Shanghai, New York and Galway on Friday April 24. China  The lower end of domestic prices widened downward due to producers' attempts to destock.  Export market dropped after suppliers slashed their offer prices to attract...Read More

British Steel is set to restart production at its North Yorkshire special steel mill, on Monday April 27, following a three-week shutdown the company announced on April 24.In addition to the 240,000 tonnes-per year special steel mill at Skinningrove in Redcar & Cleveland, the company said it also plans to reopen its Lisburn service centre in Northern Ireland."Whi...Read More

A summary of Spain-based stainless steel producer Acerinox's financial results for the first quarter of 2020. In brief The company said the stainless steel market recovery in the first quarter was cut short by the impact of the Covid-19 coronavirus, with profits down 14% year on year. The company had paused operations in Spain for four days in April and will resume...Read More

Vietnamese buyers continued to focus on Japanese scrap imports this week, and eschewed deep-sea bulk cargoes due to their high offers.Transactions involving individual shipments comprising 8,000-15,000 tonnes of Japanese H2 scrap were concluded at $234-235 per tonne cfr Vietnam.Bids for such cargoes were made at $230 per tonne cfr Vietnam, while offers were at $234-245 per tonne cfr Vietnam. Fastm...Read More

Taiwanese buyers continued to chase after imports of heavy melting scrap (HMS) imports this week, which caused prices to increase amid limited supply.Transactions were being concluded at increasingly higher prices throughout the week.They went from $220 per tonne cfr, $221 per tonne cfr and $222 per tonne cfr in the first half of the week to around $226-227 per tonne cfr in the second half. Offers...Read More

After signing a deal with Barrick Gold (TSX: ABX; NYSE: GOLD) to earn a 70% stake in its Pueblo Grande project in the Dominican Republic earlier this month, Precipitate Gold (TSXV: PRG) plans to focus on the Copey Hill target at its Ponton project, 20 km away.The Copey Hill target, which has never been drilled, is hosted by the Los Ranchos Formation, the same prospective rocks that host Barrick's...Read More

Papua New Guinea (PNG) is set to take control of Barrick Gold's (TSX: ABX; NYSE: GOLD) Porgera mine after refusing to extend the company's lease on environmental and social grounds, Prime Minister James Marape said today."In the best interests of the state, especially in lieu of the environmental damages, claims and resettlements issues, the Special Mining Lease will not be renewed," Marape said.T...Read More

Haywood Securities has cut its base metal price forecasts for 2020 due to the COVID-19 pandemic.The investment dealer expects copper will cost US$2.45 per lb. (from its previous estimate of US$2.90 per lb.) and forecasts a copper surplus this year of up to 1 million tonnes "in what had been expected to be a balanced market.""While production disruptions in key producer countries will remove signif...Read More

Silver prices have dropped sharply year-to-date and are currently down 13.2% year-on-year at US$15.29 per oz., but the Bank of America (BofA) says its supply and demand model suggests that prices below US$15 per oz. "are hard to justify even now," and predicts that prices could reach US$20 per oz. in the next 12 months.By looking at the trajectory for the Euro against the U.S. Dollar and real exch...Read More

Gold Fields hopes to reach full production at its only gold mine in South Africa by the end of May, its chief executive said on Thursday, as it forecast limited impact to its global output from the coronavirus pandemic.Read full newsRead More

Greenlane Renewables Inc. is a pioneer in the rapidly emerging renewable natural gas (RNG) market.Read full newsRead More

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