The import market for pig iron in the United States has gone down during the week ending Friday September 6, mainly under pressure from falling scrap prices, sources have told Fastmarkets.Fastmarkets' price assessment for pig iron import, cfr Gulf of Mexico, US, was $340-350 per tonne on September 6, down from $350-360 per tonne the week before."Customers will need to replenish stocks, but for now...Read More

Brazilian pig iron exporters were trying to avoid any rapid falls in price that might occur due to the slump in the ferrous scrap market, sources told Fastmarkets on Friday September 6.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $310-315 per tonne on Friday, narrowing downward from $310-320 per tonne last week.Scrap is the relative substitute for pig iro...Read More

Prices for ferrous scrap imported into India fell further this week following a downturn in global market conditions, sources told Fastmarkets on Friday September 6.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $278 per tonne on Friday, down by $13.20 per tonne from $291.20 per tonne a week ago.This week, offers for shredded scrap into I...Read More

This week's drop in the inter-merchant spot market for UK light iron scrap ended a 10-week run of stability, with weakening export prices to key destinations in Turkey and the Indian sub-continent weighing on British domestic steel scrap prices.The move is seen as a precursor to contract settlements for delivery of steel scrap to British steelmakers from domestic suppliers - sources expect them to...Read More

Seaborne iron ore prices continued to correct below the $90-per-tonne-cfr mark on Friday September 6 amid futures losses and thin physical trading.62% Fe fines, cfr Qingdao: $89.05 per tonne, down $1.13 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.44 per tonne, down $1.13 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, down $1.07 per tonne.58% Fe fines h...Read More

* GRAPHIC-2019 asset returns: (Updates with closing prices, comments on China talks) By Eric Onstad LONDON, Sept 6 (Reuters) - Copper failed to respondpositively on Friday to China boosting bank lending because thetrade dispute between the biggest metals consumer and the UnitedStates still weighed on the market. China's central bank said it was cutting the amount of cashthat banks must hold as res...Read More

What difference a few days makes, with base metals and broader, non-haven, markets looking considerably more upbeat recently, with copper prices on Thursday September 5 reaching levels last seen in early August - that after just two-days of gains. That said, the metals are consolidating this morning.This risk-on move has seen gold, the Japanese yen and outright benchmark United States 10-year trea...Read More

Prices for seaborne premium hard coking coal on an fob Australia basis edged up on Friday September 6 while the other segments remained stable, leaving buyers and sellers on the lookout for factors that could set a more definite tone for the market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.43 per tonne, up $2.34 per tonne Premium hard coking coal, cfr Jingtang: $169.01 per tonne...Read More

China's hot-rolled coil sellers lowered their prices on Friday September 6 following declining trading activity over the course of this week.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($511-514) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,600-3,610 yuan per tonne, down 30-40 yuan per tonneMills cut their ex-works prices in the morning, which put pressure on the spot ma...Read More

China's domestic rebar prices retreated on Friday September 6 due to weaker demand caused by a typhoon on the country's eastern coast. Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($504-508) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,630-3,660 yuan per tonne, widening downward by 10 per tonneEastern and Southern China experienced heavy rain during the day as a result of Ty...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.Index futures were virtually unchanged following release of the August Employment report at 8:30 AM EDT. Consensus for August Non-farm Payrolls was a drop to 159,000 from 164,000 in July. Actual was 130,000. Consensus for August Unemployment Rate was unchanged from July at 3.7%. Actual wa...Read More

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

The following Fastmarkets minor metals prices changed on Friday September 6:Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 39,000-40,000 yuan per tonne from 40,000-41,000 yuanChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $6,750-7,000 per tonne from $6,800-7,200Cobalt alloy grade, in-whs Rotterdam, $/lb: $17.05-18.35 per lb from...Read More

Increased sales of low-grade product and favorable currency moves have allowed South African manganese miner Tshipi to declare an additional dividend, owner Jupiter Mines announced on Friday September 6.The new dividend is worth 600 million rand ($40.46 million), taking Tshipi's total dividend for the first half of its 2020 financial year to 1.75 billion rand."The dividend is higher than previousl...Read More

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

What difference a few days makes, with base metals and broader, non-haven, markets looking considerably more upbeat recently, with copper prices on Thursday September 5 reaching levels last seen in early August - that after just two-days of gains. That said, the metals are consolidating this morning.This risk-on move has seen gold, the Japanese yen and outright benchmark United States 10-year trea...Read More

China's Hebei Steel, the country's second largest steel mill, has released its purchase price for silico-manganese at 7,700 yuan ($1,078) per tonne for September delivery, down by 150 yuan per tonne from its August tender price, market sources told Fastmarkets. The Friday September 6 announcement for the September tender price for silico-manganese came much later than expected. The tender result i...Read More

The following Fastmarkets non-ferrous European free market scrap prices changed on Friday September 6:Aluminium scrapFloated frag, delivered consumer Europe, ?,?/tonne: ?,?930-970 per...Read More

Two years ago, McEwen Mining (TSX: MUX; NYSE: MUX) purchased the Black Fox mine complex in northeastern Ontario for US$35 million.The complex - 70 km from Timmins and 9 km from Matheson - included the Black Fox underground gold mine, a 2,400-tonne-per-day mill, a tailings facility, the past-producing Stock gold mine and two development projects - Grey Fox and Froome.The acquisition from Primero Mi...Read More

Directors' salaries should be based on ESG, delegates at the Future of Mining have heard.Read full newsRead More