Turkish export prices for hot-rolled coil (HRC) decreased over the week ended Friday August 16 while the prices for other flat-steel products were stable because of the Eid al-Adha religious holiday, sources told Fastmarkets.Turkey was on eid holiday on August 12-14, and the market remained steady over the other working days of the week.Some market participants believed that prices could fall in t...Read More

Turkish steel producers believe that their market has become a 'backyard' for European steel firms, they told Fastmarkets on Thursday August 15.This was demonstrated by trade data which showed that Turkey's flat steel sector has returned to deficit in terms of the trade with EU countries, they said. This unbalanced relationship has long been the traditional market position, they added.The table be...Read More

The global push for ever-increasing technological advancement in the mining industry means that it needs to readdress the way it builds and sources competences, with a focus on breaking down skills silos to create more multidisciplined professionals, according to Wits Mining Institute director Professor Fred Cawood.Speaking to delegates at the SA GeoTech 2019 conference, in Kempton Park, last mont...Read More

Brazil's pig iron export market remains inactive but is still more attractive for suppliers than the domestic market, sources told Fastmarkets on Friday August 16.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil was at $325 per tonne on Friday, unchanged from the previous week.Offers from mills were heard at $325-330 per tonne fob, including financing costs,...Read More

Brazilian miner Vale has decided to temporarily halt part of the operations of subsidiary Ferrous Resources due to the absence of licensing documents.This will reduce its output of iron ore by around 330,000 tonnes per month, the company said late on Thursday August 15.The annualized effect of the stoppage has been calculated as being equivalent to 3.96 million tonnes per year.The South American c...Read More

The import pig iron market in the United States was muted during the week ended Friday August 16 with buyers in wait-and-see mode, sources have told Fastmarkets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was unchanged at $365-368 per tonne on Friday, reflecting the level of the latest deals heard in the market in late July."The [market] level remains $365 [per tonn...Read More

The inter-merchant spot market for UK light iron scrap was stable over the week to Friday August 16, marking eight weeks of stability, with the price range hemmed between relatively tight availability for major shredder companies and capped to the upside on slow consumer demand. The steady trend marks one of the longest runs of price stability in the market for more than 20 years, according to the...Read More

The Turkish steel mills have held back from deep-sea scrap import activity this week because the market was mostly closed due to the Islamic holiday in the country, sources said on Friday August 16.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Islamic Eid al-Adha celebrations, and a lot of market...Read More

Alloy steel scrap prices in the UK and Europe were largely stable this week with the recent surge in the price of nickel losing its momentum, sources told Fastmarkets on Friday August 16.The price of nickel, 3 months, London Metal Exchange Daily Official, was $16,050-16,055 per tonne on August 16, compared with $15,675-15,680 per tonne on August 9, a gain of $375 per tonne.This compared with the p...Read More

The price of shredded ferrous scrap imported into India has fallen to fresh annual lows this week while offer prices continue to fall in the hope of securing a buyer, sources told Fastmarkets on Friday August 16.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India was $300.67 per tonne on August 16, down from $305.17 per tonne on August 9.Although s...Read More

De-risking delivers value in GalenaSPONSOREDgalena miningFronk said he had turned down no fewer than five proposals from majors in the past five years, most recently coming close to signing a deal just last year.Read More

Seaborne iron ore prices increased on Friday August 16 with more deals concluded. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $89.57 per tonne, up by $1.13 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $89.95 per tonne, up by $3.01 per tonne. Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $89.50 per tonne, up by $1.28 per...Read More

China's domestic rebar prices were flat on Friday August 16, though trading activity increased slightly. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($521-525) per tonne, unchangedNorthern China (Beijing): 3,610-3,630 yuan per tonne, unchangedRebar futures picked up earlier in the day, which stimulated buying interest in the spot market. The benchmark rebar contract on the Shanghai Futures...Read More

The seaborne coking coal market resumed its downtrend on Friday August 16, with a widening price gap between low-vol and mid-vol cargoes reflecting relatively stronger demand for higher-quality products.A cargo of premium mid-vol hard coking coal traded at $160 per tonne cfr China, sources told Fastmarkets during the day. The transaction price is about $10 per tonne lower than that for a low-vol c...Read More

Against the background of heavy economic and geopolitical clouds, markets are getting some lift on Friday August 16, presumably since they have absorbed all the latest gloomy news on global economy, trade, the unrest in Hong Kong and debt default concerns in Argentina. Gold, the yen and US and German government bonds, remain in high demand, which highlight the cautionary stance investors hold and...Read More

China's hot-rolled coil prices recovered some losses on Friday August 16 after trading activity returned to moderate levels, which led mills to turn down low bids in the export market.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($529-530) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,720 yuan per tonne, unchangedHRC futures largely trended upward during the day, which led to t...Read More

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

The Russell 2000 Index moved below support at1460.49 setting an intermediate downtrend.The Dow Jones Transportation Average moved below support at 9715.20 setting an intermediate downtrend. StockTwits released yesterday @EquityClockU.S. Telecommunications iShares $IYZ moved below $27.80 completing a double top pattern.US #Retail Trade up 3.0% (NSA) in July, much stronger than the unchanged re...Read More

The following Fastmarkets minor metals prices changed on Friday August 16:Minor metals Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,900-6,100 per tonne from $5,950-6,150Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,750-6,000 per tonne from $5,800-6,000Bismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.75-2.95 per lb from $2.80-2.95Bismuth 99.99% Bi min, in-whs...Read More

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