Fastmarkets examines the factors affecting the price spread between domestic steel reinforcing bar and shredded scrap over the past two years. Trade, supply factors widen, then tighten spreadWhile rebar and scrap prices tend to be directionally correlated, developments on the trade front helped widen that gap, according to KeyBanc Capital Markets analyst Philip Gibbs."If you look at it over a...Read More
Indian mills have increased export prices for hot-rolled coil by $15 per tonne this week, with material being offered at $515-520 per tonne, mainly to Southeast Asian destinations.Fastmarkets assessed the price of steel hot-rolled coil (commodity) export, fob main port India at $500-505 per tonne on Friday August 28 - a range at which deals were being concluded."Domestic...Read More
The Brazilian steel industry is operating around 60% production capacity, up from 42% in April when demand was hit the hardest by the Covid-19 pandemic, but still far from the ideal level of 80%, Instituto A??o Brasil said on Friday August 28.At the worst moment of the pandemic, there were 13 halted blast furnaces (BF) in the country, the president of A??o Brasil, Marco Polo de Mello Lopes said du...Read More
A renewed demand for finished steel, higher steel mill utilization rates and mills actively on the hunt for ferrous scrap in recent weeks all point to a strong ferrous scrap trade in the United States in September.Higher numbers have already been tossed around, with sellers expecting scrap prices to rise by $20-40 per gross ton depending on the grade and the region in the pending trade. Some sugge...Read More
Iron ore futures rose on Monday August 31 due to a surge in steel prices over the weekend, but the physical market for the steelmaking raw material was largely stable.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.47 per tonne, up $0.10 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.21 per tonne, up $0.05 per tonne58% Fe fines high-grade premium, cfr Qingdao: $109.94 per tonne,...Read More
Seaborne coking coal prices were relatively steady across the board on Monday August 31, though China's domestic coke market might strengthen soon amid tight supply.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.59 per tonne, down $0.31 per tonne Premium hard coking coal, cfr Jingtang: $114.83 per tonne, up $0.12 per tonneHard coking coal, fob DBCT: $85.93 per tonne, up $0.66 per tonn...Read More
China imported nearly 7.37 million tonnes of coking coal in July, an increase of 17.8% from the previous month, Chinese customs data showed.The increase in coking coal imports is in line with China's steel output in July, which hit a record high.But China's coking coal imports for July were 4.9% lower than the 7.75 million tonnes brought...Read More
88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyAVZ closes on financing for tier-one lithium projectSPONSOREDavz mineralsElement 25's Butcherbird on songSPONSOREDelement 25Lithium no quiet place for AVZSPONSOREDavz mineralsIt was Tsingshan Steel which stirred nickel 12 months ago with a big buying order that reportedly took 78,000 tonnes of nickel off the London Metal...Read More
Prices for seaborne iron ore pellets softened in the week ended Friday August 28 on reduced demand but those for concentrate edged up.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $131.87 per tonne, up $1.87 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $138.17 per tonne, down $1.10 per tonne.Key driversFew mills bought seaborne pellets last week, which kept inventory levels a...Read More
China's hot-rolled coil prices rose on Monday August 31, which led a major mill in northern China to raise its export offer by $10 per tonne.DomesticEastern China (Shanghai): 4,040-4,050 yuan ($589-590) yuan per tonne, up 30-50 yuan per tonneSellers in Shanghai raised their prices amid surging futures, although several sources in the city said trading activity was merely moderate in the spot marke...Read More
China's domestic rebar prices moved up on Monday August 31 on stronger demand among stockists and a strengthening of the billet market.Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($535-540) per tonne, up by 30 yuan per tonneRebar demand is expected to rise in the next two months when consumption typically experiences a seasonal peak amid milder weather.The absence of any major calamities s...Read More
A revival of spot trading activity amid an improving auto industry and a drop in cheap imports sent US silicon prices close to 2020's year-to-date high.The rising price of secondary aluminium alloys, the main end market for the 5-5-3 grade silicon metal Fastmarkets prices in the United States, also drew the raw material up in its wake. Fastmarkets assessed the price for silicon, ddp US, at 94-97 c...Read More
Key data from the Friday August 28 pricing session in Shanghai.Key drivers Exporters raised their offers following gains in the domestic market; domestic prices are said to be around 10,300-10,400 yuan ($1,499-1,514) per tonne, compared with around 10,200-10,300 yuan...Read More
Spot cobalt hydroxide payables consolidated last week amid a slowdown in trading activity, with buyers and sellers both unwilling to compromise in order to secure deals. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, held at 76.5-77% of the price for cobalt standard grade (low-end) on Friday August 28. The raw materials price has been unchanged for three consecutive pricin...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comSep 1, 2020 While most of the Corona news is “baked” into the gold price, when the dust settles, $2000-$2500 is likely to be the new floor. Please click here now. The $1000 floor for gold took time to establish and the process involved significant pain for gold price enthusias...Read More
Auryn and Eastmain Resources had announced the transaction a month ago, designed to create three, commodity-specific exploration companies, with Fury to be focused on Canada and headed by former Agnico Eagle VP of corporate development Mike Timmins. Yesterday, the pair said Auryn would issue 7.5 million subscription receipts in two tranches, the first priced at $2 and the second at the flow-t...Read More
The deal also includes earn-outs based on future performance. IG was formed in Melbourne in 2012 and has a presence in South Africa, Chile and Singapore.Read More
Oil remains the lifeblood of the global economy. The world consumes over 100 million barrels a day. On a yearly basis it consumes 1.134 trillion gallons, or about half the amount of water in Lake Michigan.Oil companies are crucial because they provide fuel for transportation, power, and plastics.Investing in oil can be highly profitable - I've made some of my fastest and largest percentage gains...Read More
Copper North holds a property adjacent to Granite Creek Copper's project in the Yukon. Granite Creek Copper Ltd. (GCX:TSX.V) announced in a news release it signed a definitive agreement to acquire all of the Copper North Mining shares that it does not already own.With the transaction, Copper North shareholders will receive one Granite Creek common share for every 2.5 Copper North shares. This exc...Read More
Lion One Metals is gathering multiple pierce points on the new high-grade lode to more precisely determine its orientation. Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) encountered its best intercept yet with the latest drilling at its Tuvatu project on Fiji, it announced in a news release.The company reported that the intercept, which was hit in daughter wedge hole TUDDH500w1, is 3.3 meters (3....Read More