The failure of a tailing dam in Vale's C??rrego do Feij??o mine in Brazil's southeastern Minas Gerais state could hamper the mining licensing process and is already affecting iron ore prices, analysts said.Iron ore spot prices and futures have come under pressure following the accident.Fastmarkets' MB 62% Fe iron ore index went up by $3.49 per tonne to $78.18 per tonne cfr Qingdao on Monday, up da...Read More

The Brazilian miner Vale had 11 billion Reais ($2.91 billion) blocked by local judges following the rupture and flood at one of its tailings dams at the C??rrego do Feij??o mine, while the company is also already subject to fines of up to 349 million Reais.Three separate rulings in the Brazilian state of Minas Gerais over the weekend accepted complaints from the state's administration and prosecut...Read More

Iron ore prices shot up across the board on Monday January 28 amid market expectations of supply disruptions following a tailings dam failure at Vale's C??rrego do Feij??o mine in Brazil.MB 62% Fe Iron Ore Index: $78.18 per tonne cfr Qingdao, up $3.49 per tonne. MB 62% Fe Pilbara Blend Fines Index: $79.02 per tonne cfr Qingdao, up $3.49 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $79.81 per t...Read More

Aluminium's three-month price on the London Metal Exchange fell by almost 3% at the close of trading on Monday January 28, continuing to trade at less than $1,900 per tonne while the rest of the complex followed lower.Total aluminium volumes traded on the exchange were moderate, with 13,588 lots changing hands by the close, and while the metal's LME stock levels remained firmly above 1 million ton...Read More

CIS billet producers started to indicate offer prices for March-rolling billet early in the week beginning Monday January 28, pushing prices further upward.A few offers of March-rolling billet from Russia and Ukraine were heard at $430-435 per tonne fob Black Sea, compared with $415-420 per tonne fob last week, supported by strengthening prices for scrap and iron ore."We have not offered much Marc...Read More

The failure of a tailing dam in Vale's C??rrego do Feij??o mine in Brazil's southeastern Minas Gerais state could hamper the mining licensing process and is already affecting iron ore prices, analysts said.Iron ore spot prices and futures have come under pressure following the accident.Fastmarkets' MB 62% Fe iron ore index went up by $3.49 per tonne to $78.18 per tonne cfr Qingdao on Monday, up da...Read More

The export market for flat steel from the Commonwealth of Independent States (CIS) was calm during the week ended Monday January 28, because mills stayed out of the market while mulling a price increase.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was stable week on week at $445-465 per tonne fob Black Sea on January 28."Mills will come back to the market early this week. The...Read More

Here are five Fastmarkets MB stories you might have missed on Monday January 28 that are worth another look.Brazilian authorities and regulators are targeting Vale after the failure of the tailings dam at the global miner's C??rrego do Feij??o mine, at Brumadinho in the country's southeastern Minas Gerais state. The iron ore miner had 11 billion Reais ($2.91 billion) blocked by loca...Read More

Consumption of ferrous scrap in the United Kingdom will continue to increase over the coming years amid an expansion in the UK operations of international metals group Liberty House, Fastmarkets MB's research team believes. UK scrap demand in 2018 is on course to rise for the first time in four years after Liberty restarted a second electric arc furnace (EAF) at its site in Rotherham, northern Eng...Read More

Vital Materials has appointed Nick Boulton as its global sales and product manager, the company told Fastmarkets on Friday January 25. Boulton, who will be based in the United Kingdom in this role, holds over 30 years' experience in multiple roles across a variety of market segments including petrochemicals, fine chemicals pharmaceuticals...Read More

The aluminium market mainly shrugged off the US Department of the Treasury's Office of Foreign Assets Control's (OFAC) long-awaited decision to remove sanctions imposed on producer UC Rusal on Sunday. The market said the removal of sanctions had been expected and therefore is already priced into the premium levels. But Rusal's next move will remain a crucial key to how the market develops in...Read More

Aluminium's three-month price on the London Metal Exchange fell by almost 3% at the close of trading on Monday January 28, continuing to trade at less than $1,900 per tonne while the rest of the complex followed lower.Total aluminium volumes traded on the exchange were moderate, with 13,588 lots changing hands by the close, and while the metal's LME stock levels remained firmly above 1 million ton...Read More

The London Metal Exchange's Special Committee has removed the "temporary conditional suspension" on Rusal metal, allowing the warranting of all material dated before and after April 6, 2018, to resume, it said in a note to members on Monday January 28. The move comes after the US Department of the Treasury's Office of Foreign Assets Control (OFAC) decision to remove sanctions imposed on En+, UC Ru...Read More

Aluminium's three-month price on the London Metal Exchange fell below its nearby support level of $1,900 per tonne during morning trading on Monday January 28, after the US removed sanctions on Russia's biggest aluminium producer, UC Rusal.First imposed on April 6, 2018, the United States' sanctions against the Russian producer spurred uncertainty in both the physical aluminium and alumina markets...Read More

The aluminium market mainly shrugged off the US Department of the Treasury's Office of Foreign Assets Control's (OFAC) long-awaited decision to remove sanctions imposed on producer UC Rusal on Sunday. The market said the removal of sanctions had been expected and therefore is already priced into the premium levels. But Rusal's next move will remain a crucial key to how the market develops in...Read More

Turkish deep-sea scrap import prices have gone up after a large number of cargoes were booked from European, Baltic Sea and US origins, sources said on Monday January 28.Several deep-sea bookings from a variety of locations came to light late on Friday after the deadline for the indices that day.A steel mill in the Izmir region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) a...Read More

Here are five Fastmarkets MB stories you might have missed on Monday January 28 that are worth another look.Brazilian authorities and regulators are targeting Vale after the failure of the tailings dam at the global miner's C??rrego do Feij??o mine, at Brumadinho in the country's southeastern Minas Gerais state. The iron ore miner had 11 billion Reais ($2.91 billion) blocked by loca...Read More

The European Commission (EC) has given the government of Greece two months to recover aid of ?,?135.8 million ($154.9 million) granted illegally to state-owned ferro-nickel producer Larco, or face the threat of court-imposed fines and financial penalties.On Thursday January 24, the EC sent a letter of formal notice to the Greek government demanding that it respond and demonstrate recovery of the a...Read More

The copper scrap discount in January has narrowed month on month for Chinese imports, mainly due to limited scrap availability following a drop in copper's outright price.No 2 copper scrap, which includes birch and cliff of 94-96% copper content, was being sold into the country at a discount of 24-30 cents per lb this month, Fastmarkets assessed. The spreads are smaller compared to 26-34 cents per...Read More

Sherritt International Corp expects to see an increase in both its nickel and cobalt production in 2019 after several factors including adverse weather conditions impacted output last year. The Toronto, Canada-based company operates two nickel operations, the Moa joint venture in Cuba and the Ambatovy joint venture in Madagascar, with a combined capacity of more than 80,000 tonnes per year of nick...Read More