Iranian export steel billet prices slipped in the week to Wednesday October 2 after several sales were agreed at prices lower than those in earlier deals.Producers tried to resist the downtrend, referring to large-volume billet sales to China in previous weeks and to the current reduced availability of material."Iranian mills were not willing to accept even $350 per tonne fob several days ago, but...Read More
Stainless steel scrap prices in the United States have continued to soften as inventories grow amid lackluster demand at the consuming stainless steel mills."There is no need to push stainless prices with the uncertainty in the stainless scrap markets today and in the short-term future," one major processor said. "It's not like it used to be where prices could be calculated. Today, it's more about...Read More
US ferrous scrap export prices have shown resilience in a fresh sale to Turkey, which was concluded at steady prices compared with the prior deal.An East Coast shipper sold a 40,000-tonne cargo on Wednesday October 2, priced at $226 per tonne for 33,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap, and at $231 per tonne for 7,000 tonnes of shredded scrap. A similar cargo was sold to T...Read More
Turkish steel producers have booked more deep-sea scrap cargoes for November shipment, although prices remained fairly stable, sources said on Wednesday October 2.A long steel mill in the Marmara region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $226 per tonne and 7,000 tonnes of bonus at $231 per tonne cfr.The price was similar to that of a US cargo traded on October 1...Read More
The seaborne coking coal market was quiet on Wednesday October 2, with participants awaiting the return of Chinese buyers to gauge the direction of price movements.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob DBCT: $123.13 per tonne, unchangedHard coking coal, cfr Jingtang: $134.07 per ton...Read More
Seaborne iron ore prices remained flat on Wednesday October 2, with the market largely muted amid the week-long public holiday in China from October 1-7.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $98.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines...Read More
Spot activity for both zinc and lead remained minimal in the week to Tuesday October 1, while premiums across other global markets were left unchanged. Zinc premiums in Europe and the United States are unchanged this week while zinc's three-month price on the London Metal Exchanage remains stable and most of the market is well covered by long-term deliveries.LME zinc's forward curve is contracting...Read More
The London Metal Exchange three-month aluminium price was trading down by 0.5% at around $1,730 per tonne during morning trading on Wednesday October 1.Concurrently, a significant 29,000-tonne inflow of material into LME-approved Asian warehouses suppressed the light metal's three-month price.17,000 tonnes of metal entered the Gwangyang, South Korea warehouse, while a lesser 12,350 tonnes flowed i...Read More
Weak manufacturing purchasing managers' index (PMI) data out across major economies on Tuesday October 2 dampened the tone across most markets, with money rotating into havens. That said, the situation in the United States is still looking mixed - the IHS Markit manufacturing PMI edged up to 51.1, from 51, so still shows expansion, while the ISM reading fell to 47.8, from 49.1. In addition, U...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 2.Key drivers A drop in the ferro-titanium price to $4.40-4.80 per kg delivered this week from $4.60-4.90 per kg last week reflects quiet consumer buying interest and only low levels of trading at lower prices. Consumers in the steel sectors have been slow to return to the market since the seasonal summer lull, both for prom...Read More
The following Fastmarkets minor metals prices changed on Wednesday October 2:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,200 per tonne from $5,950-6,175Antimony...Read More
Taiwan will defer the imposition of anti-dumping and countervailing duties on five Chinese steel and stainless steel products, the island's customs administration said last week. The decision to delay the tariffs was made after considering the recommendation of Taiwan's International Trade Commission (ITC), the impact on Taiwan's economic interests and the global economic situation, Taiwan's Custo...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 2:Aluminium scrapGroup 1 pure 99% & litho, delivered consumer UK, ?/tonne: ?1,250-1,300 per tonne from ?1,280-1,320Commercial pure cuttings, delivered consumer UK, ?/tonne: ?850-880 per tonne from ?850-900Clean HE9 extrusions, delivered consumer UK, ?/tonne:...Read More
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Canada's main stock index was flat on Thursday, as gains in gold stocks offset early weakness following poor readings on U.S. services sector activity. This marks a continued trend for gold (GC00), which has been performing well since late February with a modest but stable 0.25% increase. At 11:14 a.m. ET (1514 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 15.11 po...Read More
Main shareholder Silvercorp Metals, which has mines in China, has indicated it will participate in the offering to maintain its pro rata interest of 28.93% in New Pacific.The net proceeds will be used to advance exploration and development at the Silver Sand project in Potosi, Bolivia and for other potential project acquisitions.Recent drilling at Silver Sand, which Mining Journal visited earlier...Read More
The risk remains top-of-mind for nearly half (44%) of the 150 global mining executive companies polled. EY's report concludes a holistic approach to LTO remains vital, as the sector continues to redefine its image as a sustainable and responsible supplier of the world's minerals, amid rising volatility due to tighter regulations, global trade tensions, and increased pressure from activist investor...Read More
It's been a long time since I visited Puerto Rico.But I definitely have fond memories of this beautiful island - eating homemade mofongo, drinking too many mojitos, and kicking back on the beach, admiring all the talent.But that was nearly 10 years ago.Sadly, since then, the U.S. territory has been mangled by corruption, hurricanes, and a general sense of bureaucratic defeatism that has wreaked ha...Read More