Global demand for steel will decrease by 6.40% year-on-year in 2020 due to the effects of Covid-19 pandemic lockdown measures, the World Steel Association (Worldsteel) said on Thursday June 4.Steel demand this year will drop to 1.65 billion tonnes, Worldsteel said in its Short Range Outlook for June 2020, but will recover in 2021 to 1.72 billion tonnes, which would be up by 3.80% year-on-year.This...Read More
Turkish domestic long steel prices have increased slightly over the past week in line with rising imported scrap costs and improving demand, sources said on Thursday June 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,250-3,300 lira ($483-491) on Thursday, up from 3,230-3,290 lira per tonne last week, including 18% VAT.Domestic rebar prices in t...Read More
Spanish steelmaker Celsa is to investigate the use of hydrogen to replace its fossil-fuel energy sources in a project at its Nordic region site, the companies involved jointly announced on Wednesday June 3.Celsa Armeringsst??l, of the Celsa Group, has teamed up with Mo Industripark and renewable energy company Statkraft, and has signed a letter of intent to establish a green hydrogen value chain f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron oreSentiment in the iron ore market continues to be dominated by concerns about supply disruptions in Brazil. Prices spiked above $100 per tonne after reports that there had been a recent surge of Covid-19 cases at Vale's three mines in Itabira. A...Read More
Turkish deep-sea scrap bookings have continued for July shipments at slightly stronger prices, sources said on Thursday June 4.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 30,000 tonnes of shredded at $263 per tonne cfr.This compared with the most recent United States-origin cargo sold at...Read More
Seaborne iron ore prices slipped on Thursday June 4, following a big dip in the futures market.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $99.24 per tonne, down $1.98 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $102.17 per tonne, down $1.83 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $89.41 per tonne, down $0.14 per tonne. 65% Fe Brazil-origin fi...Read More
Seaborne premium hard coking coal prices diverged on Thursday June 4, with most market participants watching from the sidelines. Fastmarkets indices Premium hard coking coal, fob DBCT: $107.75 per tonne, up $1.29 per tonne Premium hard coking coal, cfr Jingtang: $114.38 per tonne, down $0.57 per tonne Hard coking coal, fob DBCT: $87.08 per tonne, down $0.58 per tonne Hard coking coal, cfr Jingtang...Read More
Steelmakers in Bangladesh largely abstained from the market for import bulk scrap cargoes over the last week but offer prices increased due to recent deals done in India and Pakistan, market sources told Fastmarkets on Thursday June 4. Mills in India and Pakistan bought bulk cargoes from the US West Coast over recent days at increased prices amid stronger demand for scrap, low bulk freight ra...Read More
China's domestic rebar market maintained its upward trend on Thursday June 4 on early gains experienced by rebar futures, though high temperatures in several regions weakened demand.Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($508-513) per tonne, up by 10 yuan per tonneThe most-traded October rebar futures contract rose to a high of 3,679 yuan per tonne in the first hour of trading. This...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets assessed the price of cobalt...Read More
The cobalt standard grade, in-whs Rotterdam, trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets MB prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works,...Read More
Cobalt sulfate prices in China retreated slightly in the first half of the week with concerns over a persistent slump in demand outweighing feedstock supply constraints, but market participants expect any drop to be only limited in the near term.Nevertheless market participants are taking a watchful stance in terms of the moves of cobalt sulfate - and whether the persistent weak demand might...Read More
Copper scrap flows in the United States have begun strengthening due to an increase in the Comex copper price and a seasonal uptick in scrap production during the summer months, but this modest increase in supply has not yet eased copper scrap discounts.The most active July-delivery Comex copper contract settled at $2.4875 per lb on Wednesday June 3, up by 4.4% from $2.382 per lb one week earlier....Read More
Japanese suppliers of H2 heavy scrap are experiencing difficulty in sourcing for supply, which has led to a rise in export prices for a second week, market sources told Fastmarkets.Low supply has resulted in dockside scrap prices climbing again over the past week, which push up export offers and exert pressure on domestic steelmakers' margins since they are also struggling to obtain material."The...Read More
Much is being written about a V-shaped recovery at the moment. However, a glance at the 52-week high and low lists this week showed that the rally was cosmetic. The trends of the pandemic are still dominating the TSX and will likely continue to do so until the situation finds a backstop — most likely a vaccine. Let’s take a look at which areas are still getting battered right now and w...Read More
Goldlund site Credit: First Mining. Treasury Metals has entered into an agreement with First Mining Gold to acquire the 280-sq.-km Goldlund project, 60 km northeast of Dryden, Ontario.Goldlund is 2 km northeast of Treasury's flagship Goliath property and includes open-pit resources of 12.9 million tonnes at 1.96 g/t gold in the indicated category for a total of 809,200 indicated oz. Inferred r...Read More
Drilling at Callinex Mines' 118-sq.-km Nash Creek project has encountered a new zone of silver mineralization, 9.6 km away from the current deposit, as well as a new area of near-surface zinc and lead, 1.3 km to the west of existing resources.The company has released the results of five drill holes: NC19-306 returned 19 metres of 36.53 g/t silver, 0.38% zinc and 0.52% lead starting at a depth of...Read More
Centerra Gold's Mount Milligan mine. (Image courtesy of former owner, Thompson Creek Metals).Canada's prolific geological terrain and adherence to the rule of law position the country as a go-to destination for companies looking to establish and operate mineral projects. A fall in the value of the Canadian dollar over the past few years, coupled with a recent upswing in the gold price, make gold...Read More
Kakula copper mine, DRC. Image from Ivanhoe. Ivanhoe Mines (TSE: IVN) co-chairs Robert Friedland and Yufeng Sun announced this week that underground development at the Kakula copper mine in the Democratic Republic of Congo (DRC) continues to advance ahead of schedule, with more than 15.4 kilometres (9.5 miles) now complete, or 4.7 kilometres (2.9 miles) ahead of plan.In May, the mining team set i...Read More