A correction is underway in the three-month base metals prices traded on the London Metal Exchange with prices off by an average of 0.5% on the morning of Thursday February 21, compared with Wednesday's closing levels.This morning's price pullbacks follow a day of strength on Wednesday when the complex closed up with gains averaging 1.2%, which saw copper pushed up through the top of resistance on...Read More

Base metals prices on the Shanghai Futures Exchange were on divergent paths during Asian morning trading on Thursday February 21, with copper, tin and nickel edging higher, while the others were little changed to slightly weaker.The mixed movements follow the overnight release of the minutes from the US Federal Open Market Committee's (FOMC) January meeting, in which the central bank left open the...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday February 21 that are worth another look.Canada has established surtax-free quotas for imports of energy tubular products and wire rod originating from Mexico effective from February 2, an official from Canada's Ministry of Finance said.French mining and metallurgy company Eramet generated lower operating income f...Read More

Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) is planning a 10-15% price increase for flat steel products by March 25 due to increased costs and a positive trend in international prices."Much more than the market trend, we are affected by higher costs," CSN commercial executive director Luis Fernando Martinez said during a call for analysts on Thursday February 21.The...Read More

Steelmaker Gerdau will halt operations for 60 days at blast furnace No1 at its Ouro Branco mill in the south-eastern Brazilian state of Minas Gerais, starting in early June 2019, the company said on Thursday February 21.The company does not expect the stoppage to affect sales volumes because it is already building up the inventory necessary to continue regular supplies to customers, chief executiv...Read More

Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) has signed a deal to supply iron ore to international trading company Glencore.CSN's mining unit will receive a pre-payment of $500 million, and in turn will supply around 22 million tonnes of iron ore over a period of five years, CSN said late on Wednesday February 20."The transaction is part of CSN's deleveraging plan, a...Read More

Domestic prices for cold-rolled coil (CRC) in Europe have been largely stable over the past seven days with only minor increases reported, sources told Fastmarkets this week.European mills have been looking to increase prices to offset rising costs, with ArcelorMittal adding a further ?,?30 ($34) per tonne to its European coil steel offer prices on Tuesday - its second price in...Read More

Steel billet prices in the Turkish markets have been weakening over the past seven days because of softening demand and the latest downturn in scrap prices, sources said on Thursday February 21.Fastmarkets' weekly price assessment for billet imports into Turkey was $450-473 per tonne cfr on February 21, down from last week's $475-480 per tonne.Only one cargo from the CIS region to Turkey was heard...Read More

Turkish domestic rebar and wire rod prices have continued to weaken due to the sluggish demand in the country, sources said on Thursday February 21.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,100-3,150 ($584-594) per tonne ex-works on February 21, down from last week's TRY3,180-3,250 per tonne.Domestic rebar prices in the Izmir and Karab? 1/4 k regions were TRY3,100-...Read More

Iron ore prices continued to retreat on Thursday February 21, with Chinese steelmakers cautious abouthigh costs.MB 62% Fe Iron Ore Index: $86.68 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.08 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.36 per tonne cfr Qingdao, down $0.74 per tonne. MB 58% Fe Premium Index: $77.23...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at $99.80 per tonne cfr China, bill of lading...Read More

Authorities from Dalian Customs have announced the import quota across the five ports under its jurisdiction for the 2019 calendar year at no more than 12 million tonnes, down from 16 million tonnes in 2018, sources told Fastmarkets on Thursday February 21.Port of Dalian: 950,000 tonnesPort of Bayuquan: 6.5 million tonnesPort of Panjin: 750,000 tonnesPort of Dandong: 3 million tonnesPort of Beilia...Read More

Seaborne coking coal prices rose on Thursday February 21 amid a suspension of operations at a mine in Queensland, Australia and with the emergence of a smaller quota for imported coal in a major city in northeastern China.An April-laycan cargo of a top Australian brand was sold at $215 per tonne cfr China to a Chinese trader via a miner's tender during the day, according to various sources.A cargo...Read More

China's domestic rebar prices rebounded on Thursday February 21 amid a pick-up in demand. Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($550-556) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,700-3,720 yuan per tonne, up 20 yuan per tonneGains in the billet and futures markets coupled with the announcement of higher list prices by steelmakers pushed up spot prices, sources s...Read More

China's hot-rolled coil market maintained its upward momentum on Thursday February 21, with sellers continuing to make attempts to prop up prices amid rising costs.DomesticEastern China (Shanghai): 3,760-3,790 yuan ($559-563) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,690-3,700 yuan per tonne, narrowing upward by 20 yuan per tonneSellers in Shanghai started selling at around 3,790...Read More

French mining and metallurgy company Eramet generated lower operating income from its manganese business in 2018 despite higher sales, the group announced in a results statement on Wednesday February 20.This was a consequence of squeezed manganese alloy margins which offset strong manganese ore prices.Operating income at the manganese division dropped to ?,?699 million ($793 million) in 2018 from...Read More

Key data from the Wednesday February 20 pricing session in Shanghai. Cobalt metal key drivers  The domestic Chinese cobalt metal price trended lower midweek due to thin spot activity following the Chinese New Year holiday on February 4-10 as well as lower offers from some suppliers who were trying to offload stocks.  Mainstream offers and sales for Jinchuan-brand cobalt were around 290,0...Read More

Domestic stainless steel prices in China increased slightly over the past week amid an uptick in demand.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,000 yuan ($2,185-2,230) per tonne including value-added tax for the week ended Wednesday February 20, narrowing upward by 100 yuan per tonne from 14,600-15,000 per to...Read More

In a one hour and forty-five minute conference call on Feb. 13, barely seven weeks after the merger of Barrick Gold (TSX: ABX; NYSE: GOLD) and Randgold Resources became effective on Jan. 1, newly installed president and CEO Mark Bristow said he was excited "by the prospect of putting the Barrick brand back where it belongs, and that is at the head of the gold mining industry," and that the new tea...Read More

Harte Gold's (TSX: HRT; US-OTC: HRTFF) Sugar Zone gold mine in northern Ontario reached commercial production on Jan. 1, and permitting is underway to increase throughput to 800 tonnes per day.In the meantime, the company has just folded into a revised resource estimate, 90,000 metres of infill and step-out drilling it completed last year across the Sugar, Middle and Wolf Zones.The drill program e...Read More