The Turkish steel producers skipped the last working day of the week with no deep-sea scrap bookings amid rising offer prices, sources said on Friday March 8.The most recent deal was done on Thursday March 7 from the United States at $322 per tonne cfr for HMS 1&2 (80:20).However, market participants said offer prices for similar material were already above that US transaction price, with sev...Read More
The price of shredded ferrous scrap recovered this week following a drop of more than $11 last week, sources said on Friday March 8.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $331.38 per tonne cfr on March 8, up from $328.33 per tonne cfr on March 1.The index had fallen by $11.11 per tonne from $339.44 per tonne cfr on February 22 because of a correcti...Read More
Physical iron ore prices retreated on Friday March 8 following declines in the futures market.MB 62% Fe Iron Ore Index: $85.77 per tonne cfr Qingdao, down $1.84 per tonne. MB 62% Fe Pilbara Blend Fines Index: $85.17 per tonne cfr Qingdao, down $1.84 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.25 per tonne cfr Qingdao, down $1.76 per tonne. MB 58% Fe Premium Index: $75.88 per tonne cfr Qin...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 oreBHP, tender 90,000 tonnes of 57% Fe Yandi fines, traded at the April average of two 62% Fe indices, adjusted for Fe content, plus a discount of...Read More
Seaborne coking coal prices cfr China and fob Australia ended the week in opposite directions even as Chinese participants remained unsure about the future of port restrictions pertaining to imported coal cargoes.An April laycan, 85,000-tonne premium low-vol cargo changed hands at $213.52 per tonne cfr China, while a 35,000-tonne mid-vol cargo changed hands at $217 per tonne fob Australia.A cargo...Read More
The Comex copper price fell in US morning trading on Friday March 8 following the release of disappointing data from the world's two largest economies, the United States and China.The copper price for May settlement on the Comex division of the New York Mercantile Exchange declined 2.30 cents to $2.8875 per lb. Market participants pointed to waning investor appetite for metals amid weaker than exp...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday March 8, with Asian buying subdued due to weaker Chinese trade data while continued strength in the dollar index deterred commodity investment. Over the morning, both copper and nickel futures - which have largely traded in tandem over February and March - edged lower despite both metals exhibiting t...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday March 8 *Copper -$169.53 (-1,142.09 yuan) Aluminium -$281.84 (-1,898.68 yuan) Zinc -$142.16 (-957.72 yuan) Nickel -$43.14 (-290.65 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday March 8:Minor metalsBismuth MB China domestic, yuan/tonne: 47,000-49,000 yuan per tonne from 47,500-49,500 yuanChromium MB free market alumino-thermic, $/tonne: $8,635-9,400 per tonne from $8,650-9,400Cobalt MB free market alloy grade, $/lb: $14.60-15.75 per lb from $14.85-16.00Cobalt MB free market standard...Read More
Fastmarkets proposes to change the calculation basis for the China cobalt sulfate, Co 20.5% min, ex-works adjustment to the standard-grade cobalt low-end price to 100% Co basis from the current Co 20.5% basis. As part of the consultation, Fastmarkets also proposes to change the name of this assessment to China cobalt sulfate, Co 20.5% min, ex-works, adjustment to standard-grade cobalt low-end pric...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker again this morning, Friday March 8, and weak Chinese trade data has not helped sentiment.With the exception of aluminium that was up by 0.1%, the rest of the complex were down between 0.2% for tin and 0.7% for nickel and zinc. Copper was off by 0.5% at $6,403 per tonne, compared with $6,435 per tonne at Thurs...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday March 8:Aluminium scrapMixed turnings 6%: ?,?810-850 per tonne...Read More
Asian ferrous scrap prices have rebounded due to strong demand in Asia, market sources told Fastmarkets this week, with steel mills in Taiwan and South Korea booking both containerized and bulk cargoes. Price increases in key bellwether market Turkey also supported sentiment, with sellers attempting to hike offers.VietnamImport prices into the Southeast Asian nation were higher due to strong deman...Read More
Several producers have booked second-quarter aluminium supply in Japan at a premium of $105 per tonne basis main Japanese ports (MJP) delivery, with more than 20,000 tonnes of concluded business so far, Fastmarkets learned on Friday March 8. The premium over LME cash prices, if adopted by remaining producers and consumers, would mark a 25% increase from the $83-85 per tonne benchmark agreed for fi...Read More
In the recent years investors have lost a lot of money in the resource sector. This shouldn’t have been the case had investors paid attention to the work of Bob Moriarty. Exactly when the sector was losing money, Mr. Moriarty was investing in resource stocks—of the likes of Novo Resources and Irving Resources—that made him 10 to 20 times his investment. In some cases, more. &n...Read More
After hitting a multi-year high in 2017 of $4.40, shares of Northern Dynasty Minerals Ltd (TSX:NDM) are back to a $400 million market cap, resulting in a share price of just $1.20. Despite the volatility, however, there are many similarities between Northern Dynasty and its $10 billion peer, First Quantum Minerals Limited (TSX:FM).Over the years, First Quantum has been a constant subject of bankr...Read More
While it seems to fly in the face of everything we believe and have been taught about nuclear power, it may actually be the safest form of power production that we have. Ironically, the immense potency of the power of splitting an atom is simultaneously what makes nuclear weapons so dangerous as well as what makes nuclear power so safe. Despite high-profile nuclear disasters like Chernobyl in Ukra...Read More