The export market for pig iron from Brazil was muted this week because suppliers were sold out for September, sources told Fastmarkets on Friday August 9.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $325 per tonne on Friday, unchanged week on week.Offers from mills were heard at $320-325 per tonne net to producer, or about $325-330 per tonne fob including...Read More

The inter-merchant spot market for UK light iron scrap was stable over the week to Friday August 9, extending the steady trend into a seventh week, with prices supported by major steel scrap shredders competing for business amid relatively tight availability, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More

Turkish steel mills's were scarcely active in the scrap market this week before next week's Eid al-Adha religious holiday, sources said on Friday August 9.There was only one deep-sea cargo traded this week, which was sold out of the United States on Wednesday at an average price of $294 per tonne cfr for 20,000 tonnes of shredded and 20,000 tonnes of HMS 1&2 (90:10).Apart...Read More

The import markets for shredded and HMS-grade ferrous scrap imported into India have fallen to new annual lows this week because of poor demand, sources told Fastmarkets on Friday August 9.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $305.17 per tonne on August 9, down from $308.75 per tonne on August 2. The index was at a 2019 year-to-...Read More

Three-month base metals prices on the London Metal Exchange were broadly lower during morning trading on Friday August 9, with turnover predominantly low across the complex while continued buying momentum in lead this week tightened nearby spreads. Despite a 0.4% downturn this morning, the three-month nickel price held onto gains made earlier in the week, coming down from a 16-month high of $16,69...Read More

Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday August 9 as the Chinese yuan stabilized, with nickel continuing to push higher amid bullish sentiment. "The markets have regained some semblance of composure after the People's Bank of China's countercyclical efforts temporarily tamed the yuan beast, but this probably won't stop traders from p...Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThat was 13% up on the previous quarter and the highest level of concentrate for nearly four years.Rambler said year-to-date mill throughput of 211,090t at an average 1.36% copper and 0.59gpt gold had it on tracked for its guided 400,000-450,000t at 1.3-1.5% copper. SP Angel in London said average gold grades were below...Read More

Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumSavannah has outlined 1.7 million tonnes grading 2.2% copper in indicated and inferred resources, including a high-grade zone of about 500,000t at 4.5%, within tenements covering 1,004sq.km in the Semail Ophiolite belt, about 180km northwest of Muscat, the capital city of Oman, near the port of Sohar.Oman's Public A...Read More

Key data from the Friday August 9 pricing session in London:Key drivers Manganese flake down with lower offers accepted in Rotterdam; the loss in value of the yuan and macroeconomic uncertainty boosted China's exports at competitive prices, with some flake producers and traders in China rapidly offsetting their cargoes before material could lose value. Material for shipment has dropped sharply dow...Read More

Cobalt prices have moved up again on Friday August 9 following Glencore's decision to shut its Mutanda copper-cobalt mine and cut output at its Katanga cobalt facility.The resulting supply concerns have pushed both suppliers and consumers to accept higher prices toward the end of the week starting August 5. Fastmarkets' benchmark price for cobalt, standard grade, in whs Rotterdam rose by 4.4% to $...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

The publication of Fastmarkets' alloy grade and standard grade cobalt price assessments for August 9 were delayed because of editorial issues stemming from the high volume of pricing inputs.The Fastmarkets price book and database have both since been updated.Fastmarkets assessed alloy grade and standard grade cobalt prices at $13.60-15.15 per lb and $13.05-14.30 per lb, in-warehouse, on Friday Aug...Read More

The following Fastmarkets minor metals prices changed on Friday August 9:Minor metalsChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $7,150-7,450 per tonne from $7,200-7,500Cobalt alloy grade, in-whs Rotterdam, $/lb: $13.60-15.15 per lb from $12.50-14.00Cobalt standard grade, in-whs Rotterdam, $/lb: $13.05-14.30 per lb from $12.25-13.95Cobalt 99.8%...Read More

An overview of the minor metals markets and the reasons for any price moves. Read More

Key data from the pricing sessions in China, Europe and the United States for the week ending Friday August 9. China  UG2 chrome ore prices ticked down, breaking a four-week rally, after depreciation of the yuan against the dollar raised the cost of importing material. The charge chrome market was stable for the sixth consecutive week amid limited activity. ...Read More

Domestic European transaction prices for stainless-steel flat products were expected to increase in late August, when market activity revives after the seasonal slowdown, sources told Fastmarkets on Friday August 9.The price increase was expected to be driven by rising nickel prices. The price of nickel, 3 months, London Metal Exchange Daily Official, was $15,675-15,680 per tonne on August 9, up f...Read More

U.S. equity index futures moved lower this morning. S&P 500 futures were down 16 points in pre-opening trade. Index futures responded to continuing weakness to the Chinese Yuan.Index futures moved slightly lower following release of the U.S. July Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was an increase of 0.2%. Excluding food...Read More

Avesoro Resources (TSX: ASO) has temporarily suspended operations at its Youga gold mine in Burkina Faso and moved all staff to the capital Ouagadougou as a precautionary measure, after a group of armed artisanal miners overran the camp and tried to steal ore from the mine's stockpile on Aug. 8.There were no injuries and government security forces will remain on site to protect the company's asset...Read More

The U.S. Environmental Protection Agency (EPA)'s decision to remove proposed restrictions on mining operations in Alaska's Bristol Bay is being called a "massive de-risking event" for Northern Dynasty Minerals' (TSX: NDM; NYSE-AM: NAK) Pebble project. The move could also improve the Vancouver-based company's chances of finding a partner to build the mine, which the company describes as the "most s...Read More

The U.S. is fertile ground for a variety of minerals, and Canadian companies are active throughout the land. The Northern Miner presents its top-10 list of the biggest Canada-based firms with substantial assets in the U.S., by market capitalization.1. BARRICK GOLDMarket cap: US$34.2 billionIn March 2019, Toronto-based Barrick Gold (TSX: ABX; NYSE: GOLD) and Newmont Goldcorp (TSX: NGT; NYSE: NEM)...Read More