Production cuts, closures and weak steel trade resulting from the global spread of the novel coronavirus (2019-nCoV) sent Turkish scrap import prices sharply down again on Tuesday March 24.News of a trade from March 19 emerged today, when a steel mill in the Iskenderun region booked a UK cargo of 15,000 tonnes of HMS 1&2 (80:20) at $226 per tonne cfr.That was substantially lower than&nbs...Read More
Metals scrap processor Sims UK has stopped taking in material at its Sheerness processing plant near London due to the novel coronavirus (2019-nCoV) outbreak, the company told Fastmarkets on Tuesday March 24.Sims is the second-biggest ferrous scrap company in the UK, with around 42 metal recycling plants in the country, and has the capacity to process about 300,000 tonnes of scrap metal at th...Read More
Mining giant BHP has seen no decline in demand for its products despite the continuing spread of the 2019-nCoV coronavirus pandemic, and the company will remain resilient to any future drop in consumption or commodity prices, its chief executive officer has said.As the pandemic situation evolves, Mike Henry said, the company will take even stronger measures to protect its workforce, the communitie...Read More
Seaborne iron ore prices strengthened on Tuesday March 24 after a massive drop of nearly $7 per tonne the previous day, with market participants awaiting clarity on the impact of the 21-day lockdown in South Africa on iron ore operations in the country. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $83.97 per tonne, up $2.90 per tonne 62% Fe low-alumina fines, cfr Qingdao: $85.50 per ton...Read More
Seaborne coking coal prices dropped further on Tuesday March 24 amid bearish sentiment among traders and consumers based on the bleak global economic outlook due to the spread of the novel coronavirus (2019-nCoV).Chinese customs clearance hurdles and a narrowing spread between seaborne and Chinese domestic coking coal prices also added to the downbeat market mood.Fastmarkets IndicesPremium ha...Read More
The three-month tin price on the London Metal Exchange improved during morning trading on Tuesday March 24, wiping out Monday's losses in a 5% rally, while copper futures similarly found support in a steady push above $4,800 per tonne. Tin's underlying price on the LME was recently seen at $13,880 per tonne, climbing from Monday's closing price of $13,250 per tonne, while turnover was high, with&n...Read More
China's domestic rebar prices were mixed on Tuesday March 24, with those in the eastern region dipping while the northern market held steady amid fluctuating futures. Eastern China (Shanghai): 3,450-3,480 yuan ($486-490) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,360-3,400 yuan per tonne, unchangedRebar futures dropped to a low of 3,373 yuan per tonne in the first 10 minutes of...Read More
Northern China's hot-rolled coil prices were stable on Tuesday March despite drops in the eastern region, with construction demand keeping the market supported.DomesticEastern China (Shanghai): 3,360-3,380 yuan ($473-476) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, narrowing upward by 20 yuan per tonneMills in the northern region kept ex-works prices stable...Read More
The three-month London Metal Exchange tin price has fallen by more than 33% since the start of the year, rendering it the laggard among its peers in a market-wide sell-off that has seen commodity prices tumble. The LME's smallest market however, which today boasts an open interest count of just 19,041 active positions - a three-month low - has some way to go before price recovery, according to mar...Read More
Asian Pacific equity indices and most metals prices are stronger this morning, Tuesday March 24, boosted by a combination of broad-based fiscal and monetary policy, and for the metals, announcements of production cuts. The base metals were for the most part stronger on the London Metal Exchange and Shanghai Futures Exchange, while gold is up too, having rallied by 4.6% on Monday. But, without want...Read More
Minor metals trading house Wogen Resources, which has its headquarters in London, will be the sole distributor in the US market for privately owned Canadian producer Alliance Magnesium, Fastmarkets has heard.The announcement came from Wogen director Laura Bell after Alliance Magnesium closed the funding for construction of a commercial demonstration magnesium plant in the Les Sources region, in th...Read More
South African platinum and chrome miner Tharisa will cease mining after its night shift on Wednesday March 25 in response to a government-imposed three-week lockdown amid the spread of the novel coronavirus (2019-nCoV). President Cyril Ramaphosa announced the lockdown on the evening of Monday March 23, saying all mines would be required to shut down by midnight on Thursday. "Tharisa fully sup...Read More
A two-day lockdown announced on Sunday night in the Democratic Republic of Congo's (DRC) Haut Katanga province has heightened concerns that the spread of the novel coronavirus (2019-nCoV) could affect the supply of copper and cobalt coming from the region. The lockdown prohibits all activity in the province, which, as well as being a production hub, provides a crucial export route for raw material...Read More
Compagnie de Tifnout Tiranimine (CTT) has suspended production at its cobalt mine and plant in Morocco amid a 14-day lockdown in the country aimed at stemming the spread of the novel coronavirus (2019-nCoV), sources close to the matter have confirmed. The shutdown started on Tuesday March 24 and is initially slated to last for two weeks, Fastmarkets understands. The duration could be subject to an...Read More
Producer South32 is in discussions to keep its Hillside aluminium smelter in South Africa running despite the country entering lockdown in response to the coronavirus (2019-nCoV) outbreak.A spokesperson for South32 told Fastmarkets that nothing had yet been agreed with the government."[We are] still in discussions with the government at the moment and nothing is confirmed," a spokesperson said in...Read More
Turkey has requested the intervention of the World Trade Organization's Dispute Settlement Body in connection with steel safeguard measures introduced by the European Union.On Thursday, March 19, the WTO, said that a Turkish delegation had notified the organization that Turkey was deeply concerned by the safeguard measures imposed by the EU on imports of certain steel products...Read More
Radius Gold (TSXV: RDU) has signed an option agreement to acquire a 100% interest in Plata Verde, a 3-sq.-km property north of its flagship Amalia gold-silver project in the state of Chihuahua, Mexico.Plata Verde is located on the site of a historic and undocumented underground mining operation from the 1800s that Radius Gold discovered in January 2020. The project is east of the historic Batopila...Read More
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P??vodn?? slovensk?? hra Leni autorskej dvojice Valerie Schulczovej a Romana Olek????ka je o fikt?-vnom stretnut?- dvoch skuto??n? 1/2 ch ? 3/4 ud?-. Legend??rneho moder??tora Johnnyho Carsona, ktor?(C)ho ?EUR?The Tonight Show Starring Johnny Carson" patrila tridsa?? rokov k najsledovanej???-m talkshow Ameriky, a kontroverznej Leni Riefenstahl, ?EUR?dvornej re? 3/4 is?(C)rky" Adolfa Hitlera. Je ro...Read More