The price of shredded ferrous scrap imported into India continued to fall this week due to a continuing lack of demand, sources told Fastmarkets on Friday July 26.Fastmarkets' weekly price for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $311.50 per tonne on July 26, down from $314.23 per tonne on July 19.Offer prices for shredded scrap moved down again this week to $305-320 p...Read More
Iron ore prices continued to rebound on Friday July 26 amid rumors that China could be less strict with its steelmaking restrictions next winter.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $118.31 per tonne, up by $1.31 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $118.23 per tonne, up by $1.31 per tonne.Fastmarkets' index for iron ore 62% Fe lo...Read More
With little changed in the big picture, markets continue to oscillate while they consolidate - US and European equity indices were lower on Thursday July 25 and most Asian equities were weaker this morning. London Metal Exchange lead price remains directional, other base metals are working sideways. US second-quarter GDP data out on Friday likely to set the tone.Base metalsVolume on the LME r...Read More
China's hot-rolled coil prices moved up slightly in both the domestic and export markets on Friday July 26, with market participants expecting further restrictions on output in August.. DomesticEastern China (Shanghai): 3,850-3,870 yuan ($560-563) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10 yuan per tonneMills in Tangshan, the country's stee...Read More
Aluminium inventories held in Shanghai Futures Exchange-approved warehouses fell 6% week on week, as of Friday July 26, on better-than-expected downstream demand and optimism over the upcoming US-China trade talks scheduled for next week.Deliverable aluminium stocks at SHFE-approved warehouse dropped 25,622 tonnes to 396,400 tonnes in the week to July 26. The largest aluminium decline over the wee...Read More
Nickel's three-month price on the London Metal Exchange was the standout performer during morning trading on Friday July 26, gaining some $200 per tonne while the rest of the complex consolidated lower. The metal's outright price fell below the $14,000-per-tonne threshold briefly on Wednesday, before closing above the mark amid moderately low turnover.Similarly, volumes traded across the complex r...Read More
With little changed in the big picture, markets continue to oscillate while they consolidate - US and European equity indices were lower on Thursday July 25 and most Asian equities were weaker this morning.London Metal Exchange lead price remains directional, other base metals are working sideways.US second-quarter GDP data out on Friday likely to set the tone.Base metalsVolume on the LME remains...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Index futures were virtually unchanged following release of U.S. second quarter real GDP at 8:30 AM EDT. Consensus is growth at a 2.0% rate versus growth at a 3.1% rate in the first quarter. Actual was growth at a 2.1% rate,Amazon dropped $21.32 to $1953.50 after reporting lower than cons...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
I don't remember exactly how old I was, but it was either late single digits or early doubles.I was looking through the local newspaper and saw a big, bold ad. Or maybe my parents showed it to me... I can't remember that part either.What I do remember is what the ad said, and how exciting it was to me at the time: Topps, the famous baseball card and candy company, was looking for taste testers. Mo...Read More
The following Fastmarkets minor metals prices changed on Friday July 26:Minor metalsBismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.75-2.90 per lb from $2.85-3.00Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 41,500-42,500 yuan per tonne from 41,000-42,000 yuanChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $7,200-7,500 from $7,350-7,600Cobalt alloy...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
The price of stainless-steel flat products in Europe increased this week because of higher monthly alloy surcharges for August, which themselves have increased on a spike in nickel costs this month, sources told Fastmarkets on Friday July 26. Fastmarkets' assessment of the stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe, price was ?,?2,190-2,250 ($2,440...Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday July 26. China Chrome ore prices continued to rise amid bullish sentiment and strong demand from downstream consumers even though some smelters are running at a loss. Chinese major stainless steel mill Tsingshan released its August tender price at 6,296 yuan...Read More
Producers of hot-rolled (HR) stainless flat steel in Europe have sufficient spare capacity to service the EU market, "with domestic deliveries having lost out to massive rises in import levels, despite the EU safeguard measures," European steel association Eurofer told Fastmarkets on Friday July 26.EU producers of stainless HR sheets and strips had average capacity utilization of 69-73% in the yea...Read More
Mill maintenancesin South Korea and weak demand from end users have caused ferrous scrap import prices in Asia to fall week on week.Two electric-arc furnace-based steel mills in South Korea have started mill maintenances, while another EAF-based mill and one major integrated mill in South Korea will start mill maintenances from end-July.Weak downstream steel markets and high inventory levels in ke...Read More
As the global demand for base metals grows, mining companies are on the hunt for new deposits that they can develop into operating mines. Here are eight companies with significant projects in the space.GROUP ELEVEN RESOURCESAn inactive drill at Group Eleven Resources' 60%-owned Ballinalack zinc-lead project in the Republic of Ireland. Photo by The Northern Miner.Formed in 2015, Group Eleven Reso...Read More
Thickened tailings deposition for closureSPONSOREDsrk consultingAustralian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumSaturn's high-grade discovery gives Apollo Hill a rocketSPONSOREDsaturn metalsLake Resources prepares to make a splash in lithium SPONSOREDlake resourcesClearly, the recovery is a work in progress. And that's owing to complex developmen...Read More
Greece's recently-elected government wants a stalled gold mine investment b...Read full newsRead More
Greece's recently-elected government wants a stalled gold mine investment b...Read full newsRead More