Al Ghurair Iron & Steel, based in Abu Dhabi, in the United Arab Emirates, has appealed to the United States Court of International Trade on the US Department of Commerce's affirmative circumvention determinations on anti-dumping and countervailing duty orders for certain Chinese corrosion-resistant steel products (Core). Abu Bucker Husain, the chief executive officer of Al Ghurair Iron & Steel, to...Read More
A softening dollar led China's hot-rolled coil producers to their export offers flat on Tuesday September 15 despite a weakening domestic market.DomesticEastern China (Shanghai): 3,920-3,930 yuan ($575-576) yuan per tonne, narrowing downward by 10 yuan per tonneA Shanghai-based trader said trading activity had thinned during the day from Monday following losses in the futures market.Sellers were l...Read More
Ferrous scrap prices in the main Mexican markets continued to improve in the week to Tuesday September 15 as a result of some buyers increasing their supply of the steelmaking raw material, market participants told Fastmarkets.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 6,400 pesos ($302) per tonne on Tuesday, up 200 pesos from 6,200 pesos...Read More
Seaborne iron ore prices eased on Tuesday September 15 amid a market-driven price correction from the previous day's sky-high prices, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $128.52 per tonne, down by $1.65 per tonne.62% Fe low-alumina fines, cfr Qingdao: $128.90 per tonne, down by $1.32 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $118.02 per t...Read More
The seaborne premium hard coking coal fob index jumped on Tuesday September 15 following a transaction of premium mid-volatility hard coking coal in the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $119.54 per tonne, up $6.31 per tonne Premium hard coking coal, cfr Jingtang: $126.60 per tonne, up $0.12 per tonneHard coking coal, fob DBCT: $95.26 per tonne, up $2....Read More
BHP has flagged inconsistent profits caused by volatile commodity prices as a key risk to its business."Impacts from the Covid-19 pandemic and other geopolitical and macroeconomic developments are expected to increase commodity price volatility. Volatility in the market will continue to translate into profit variability," the mining giant said in its annual report for its 2020 financial year ended...Read More
China's domestic rebar prices stopped rising on Tuesday September 15 after falling futures and rain weakened demand.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($545-548) per tonne, unchangedContinual rain in eastern China slowed down the consumption rates of rebar at construction sites as well as the transportation of the long steel product.A weakening of the futures also reduced buying in...Read More
Key data from the Tuesday September 15 pricing session in London.Key driversCobalt metal prices edge higher; cheaper offers fade with some sellers setting their new target prices closer to $16 per lb citing a well-underpinned market on news that China's State Reserve Bureau will begin stockpiling metal. Lack of clarity...Read More
Credit insurance companies are decreasing the extent of the cover they offer, and are requesting more information from clients, in the wake of the Covid-19 pandemic, but ultimately the sector has been well supported by government schemes, according to Dutch specialist insurance broker Aon.Trade credit insurance gives protection to companies against bad debts caused by the insolvency or protracted...Read More
China-based minor metals producer Vital Materials has agreed to acquire the ceramic target business division of Samsung Corning Advanced Glass (SCG) - a joint venture between Samsung Display and Corning Incorporated - Vital told Fastmarkets on September 15.SCG's ceramic target business - in Gumi, South Korea - is an indium tin oxide, (ITO), indium zinc oxide (IZO) and indium gallium zinc oxide (IG...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt standard grade, in-whs Rotterdam, $/lb at...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt alloy grade, in-whs Rotterdam, $/lb at...Read More
Titanium Metals Corp (Timet), the last producer of titanium sponge in the United States, has indefinitely stopped producing the raw material, but will continue in its role as a leading global supplier of titanium metal products.The Warrensville Heights, Ohio-based company confirmed to Fastmarkets that it has wound down its sponge production out of Henderson, Nevada, in recent weeks."The melting op...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will stop ferro-silicon production for two weeks from this weekend because of planned maintenance to its three furnaces, a source told Fastmarkets.The amount of production that will be lost is unclear, although output was down by about 3,500 tonnes when it carried out maintenance on one furnace in the third qu...Read More
Portside prices for both low- and high-grade manganese ore in China changed little over the week ended Friday September 11, with some alloy smelters retreating from the market after restocking to meet prompt production needs in the previous two weeks, market sources have told Fastmarkets.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China, was 35.70 yuan ($5.24) pe...Read More
Fourteen, or nearly half, of the Toronto Stock Exchange's 30 top performers on the TSX30 2020 ranking are mining companies, TMX Group reported on Tuesday.The ranking showcases TSX's 30 top-performing stocks that represent sustained excellence over the long-term. Founded in 2019, the TSX30 ranks stocks based on dividend-adjusted share price appreciation over a three-year period.Mining companies in...Read More
There have been much discussion about how the stock market is not reflecting the state of the economy and how the second market crash is inevitable. Analysts are touting a stock market bubble, a tech bubble, and a housing market crash. And all these events will take place when the government fiscal stimulus ends.The government is giving away free money in the form of stimulus packages. They are fu...Read More
Although the Canadian markets have recovered strongly from their March lows, they are not in sync with the fundamentals, as the unemployment rate is still on the higher side. Also, many countries could report a contraction in their GDP this year. So, these issues could create a headwind for the markets going forward.Meanwhile, you can protect your investments by investing in these three defensive...Read More
The traditional safe haven gold is up almost 30%, while the silver is up more than 50% so far this year. As global economic growth is expected to remain subdued, precious metals could continue to trade strong for the next few quarters. However, silver might underperform the yellow metal, as the industrial metal dons a positive correlation with economic cycles.How to play the gold rallyThe $10 bill...Read More
Luckily for the world's second biggest mining company, the self-inflicted wounds in Australia have occurred at a time of peak prices for Rio Tinto's all-important iron ore division.Read More