M2 Cobalt Corp and Jervois Mining Ltd are to merge in a deal that will complement the latter's ambitions in East Africa as part of its focus on the growing battery metals market. Upon completion of the deal, which has been approved by both boards, existing Jervois shareholders will own 77.9% of the new company while 22.1% will be owned by current M2 Cobalt shareholders. In late 2017, the company c...Read More

The prices for cobalt products in China were broadly steady on Wednesday January 23 on limited availability of prompt cargoes, but market participants are wary of price vulnerability after the Chinese New Year holiday on February 4-10. Fastmarkets MB assessed the Chinese domestic min 99.8% Co price at 325,000-350,000 yuan per tonne ($18.72-20.16 per lb, less China VAT) on Wednesday, unchanged...Read More

Domestic prices for hot-dipped galvanized (HDG) coil in Europe are expected to start to increase in the second half of February, sources have told Fastmarkets.In the meantime, domestic HDG prices in the region have been largely stable over the past week with demand remaining low, market participants said on Thursday January 24."The market is very quiet and buyers are waiting for the definitive dec...Read More

Domestic prices for heavy steel plate in the European Union have been under pressure in slow trading conditions, sources said.Buyers are largely out of the market - they have shown little interest in buying substantial volumes of plate because they still have sufficient material in stock, market sources told Fastmarkets MB.Still, Fastmarkets MB's weekly price assessment for domestic grade-S235JR h...Read More

Activity in European hot-rolled coil (HRC) market has been slow and, as a result, prices have slightly softened, sources told Fastmarkets.The situation however, might change in February on expected restocking activity, according to market participants. "Demand is slow, but we might see more market activity after definitive measures [in the safeguard case] come into force in early February. A lot o...Read More

Turkish domestic and export rebar prices have inched up this week, with mills in the country trying to increase their offers following higher scrap costs.Yet, demand was not supportive and no significant bookings have been heard over the past week, sources said on Thursday January 24.Turkish steel producers have raised their export offers to $445-460 per tonne fob on an actual weight basis but the...Read More

The domestic rebar price in Turkey has moved up slightly, in line with the increasing value of imported deep-sea scrap, while demand was very weak due to a seasonal slowdown in the country, sources said on Thursday January 24.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,820-2,850 ($531-537) per tonne ex-works on January 24, up from TRY2,800-2,830 per tonne last week."...Read More

Steel billet import prices in Egypt increased this week on higher offers despite weak demand, sources told Fastmarkets on Thursday January 23.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $425-440 per tonne cfr on Thursday, widening upward from $425-430 per tonne cfr last week.Billet producers from Ukraine were offering material to Egypt at...Read More

The Turkish deep-sea scrap market remained quiet on Thursday January 24, with steel mills unwilling to pay high prices while finished steel demand is weak, local market sources told Fastmarkets MB.Offer prices for HMS 1&2 (80:20) have already increased to more than $290-295 per tonne cfr from suppliers, who cite increasing collection costs for the rise.Two cargoes were sold to a steel mill in the...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

Seaborne iron ore prices picked up on Thursday January 24 amid rises in futures and swaps markets.MB 62% Fe Iron Ore Index: $74.71 per tonne cfr Qingdao, up $0.23 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.55 per tonne cfr Qingdao, up $0.23 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $76.40 per tonne cfr Qingdao, up $0.56 per tonne. MB 58% Fe Premium Index: $66.02 per tonne cfr Qingd...Read More

The export price for steel billet from the Commonwealth of Independent States (CIS) has surged toward the end of this week, spurred by rising offer prices after most mills filled their February order books with large sales in previous weeks, Fastmarkets heard on Thursday January 24.The recovery in import scrap prices in Turkey has also added to the positive sentiment among CIS suppliers.Offers of...Read More

Turkish steel billet prices have increased slightly over the past week on an uptick in imported scrap values and reduced availability of billet in the CIS region, sources said on Thursday January 24.Fastmarkets' weekly price assessment for billet imports into Turkey was $410-420 per tonne cfr on Thursday, up from the $405-415 per tonne of last week.Suppliers in the Commonwealth of Independent Stat...Read More

Import prices for steel billet in Southeast Asia staged a slight recovery this week amid limited offers and Turkey's strengthening scrap market, although participants reckon that the billet gains might be short-lived because they were not supported by demand.Fastmarkets' daily import price assessment for billet in Southeast Asia was $450-455 per tonne cfr Manila on Thursday January 24, narrowing u...Read More

European molybdenum prices rose in trading this week, with oxide bouncing off a six-month low and ferro-molybdenum off a low last seen in December 2017 after a raft of new deals. The moves were fueled by a relative tightness in oxide, which pulled up alloy offer prices, although muted consumer demand for ferro-molybdenum and readily available supplies in Rotterdam may cap firmer price advances in...Read More

China's ferrous futures declined in the first hour of morning trading on Thursday January 24, but largely ended the session little changed from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,662 yuan ($539) per tonne, up 3 yuan per tonneJanuary hot-rolled coil: 3,576 yuan per tonne, down 3 yuan per tonneDalian Commodity Exchange January iron or...Read More

Summary of Anglo American's production results for the year ended December 31, 2018.(Full-year total, year-on-year percentage change)Copper production 668,300 tonnes, +15% Iron ore production - Kumba43.1 million...Read More

Iranian billet and slab producers continued to reduce their export prices to try and attract customers put off by US trading sanctions.The number of foreign buyers willing to deal with shipments from Iran has steadiliy decreased since the implementation of sanctions by the United States in August 2018. In Gulf Co-operation Council Countries (GCC), and in the UAE in particular (which used to be one...Read More

The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday January 23, after the previous week's price reductions failed to spark an increase in activity.Fastmarkets MB's weekly price assessment for domestic rebar in Northern Europe stayed at $530-550 ($602-625) per tonne delivered on Wednesday. The contract dipped from $540-560 per tonne a week ago.Few deals were repor...Read More

The export price for steel billet from the Commonwealth of Independent States (CIS) has surged toward the end of this week, spurred by rising offer prices after most mills filled their February order books with large sales in previous weeks, Fastmarkets heard on Thursday January 24.The recovery in import scrap prices in Turkey has also added to the positive sentiment among CIS suppliers.Offers of...Read More