The export price for CIS-origin steel billet has tumbled with several new bookings done at lower prices, Fastmarkets heard on Thursday July 18.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $420 per tonne on July 18, down from $425 per tonne the day before. The price was in the range of $422-423 per...Read More

Domestic prices for heavy steel plate in Southern Europe fell over the past week due to a lack of buying activity, sources told Fastmarkets.Demand is expected to decrease further in August due to seasonal factors such as scheduled maintenances at the mills, they added.Fastmarkets' weekly price assessment for steel, domestic, plate 8-40mm, exw Southern Europe, was ?,?490-510 ($550-572) per tonne ex...Read More

Anglo American has raised its full 2019 production guidance for its Minas Rio operations in Brazil, but has cut its output estimate for the Kumba operations in South Africa.Full 2019 production guidance for Anglo American's Minas Rio operations in Brazil have been increased to 19-21 million tonnes, up from its previous estimate of 18-20 million tonnes, according to a second-qua...Read More

Physical iron ore prices continued to fall on Thursday July 18 with market participants becoming cautious about rising steel inventories and weaker prices in China.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $119.90 per tonne, down $1.37 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.82 per tonne, down $1.37 per tonne. Fastmarkets' index for...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreRio Tinto, 190,000 tonnes of 62% Fe Pilbara Blend fines, traded at the August average of a 62% Fe index at a premium of $5.50 per tonne, laycan August 5-14.BHP, Beijing...Read More

Seaborne coking coal prices remained largely muted on Thursday July 18, with trading activity confined to the cfr China segment despite mounting concerns about import restrictions at ports in the country.Two cargoes of premium mid-vol hard coking coal were traded at around $185 per tonne cfr China, sources told Fastmarkets during the day. The cargoes were heard to have been sold by traders despite...Read More

Fastmarkets will change a portion of the specifications of its fob DBCT and cfr Jingtang hard coking coal indices to align with those for materials typically sold in this segment of the seaborne spot market.These changes incorporate feedback obtained from the market during a month-long consultation. They will now be applied from Thursday August 1, instead of Friday July 19 as stated in the previou...Read More

Optimism among China's hot-rolled coil exporters led to them resisting the pressure to lower their prices on Thursday July 18 despite a retreat in the domestic market.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, widening downward by 10 yuan per tonneSpot prices weakened across the country with t...Read More

China's domestic rebar market lost its upward momentum on Thursday July 18 amid declining futures, with expectations of a supply drop ahead of the country's National Day celebrations in October providing some support.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-582) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,900-3,930 yuan per tonne, unchangedSteelmaking restrictions...Read More

Nickel's three-month price on the London Metal Exchange increased during morning trading on Thursday July 18, with its price action continuing to ascend amid a continued drawdown of LME stocks. Reaching an intra-morning high of $14,910 per tonne, nickel futures are now making a significant approach toward $15,000 per tonne, a level it has not surpassed since June 2018.Turnover in nickel remained h...Read More

Turkey's Kar Madencilik has started producing primary pure magnesium metal (grade min 99.95%) at a smelter rented from Esan Eczacibasi, now called Kar Magnesium Smelter. Kar Madencilik entered an agreement to rent the smelter in February 2018 for a period of 10 years. The smelter, covering a 30,000 square meter closed area and consisting of seven different units, stopped production at the end of 2...Read More

Misplaced optimism seems to be driving gains in the London Metal Exchange's three-month nickel price, especially amidst weak global economic growth and ongoing trade tensions between the United States and China; granted there is growing concern over nickel supply from Indonesia but this remains a long-term play.Fresh global economic jitters, escalating US-China trade tensions negatively affect equ...Read More

Key data from the Wednesday July 17 pricing session in Shanghai.Key driversThe price of cobalt metal in China stabilized this week amid rising spot buying interest following a wave of speculative buying on the Wuxi Stainless Steel Exchange in the week ended July 12. The price of cobalt metal in China's domestic market fell to a multi-year low,...Read More

Domestic stainless steel prices in China picked up over the past week following a strengthening of the nickel market.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,700-14,900 yuan ($2,137-2,166) per tonne including value-added tax for the week ended Wednesday July 17, up 400-600 yuan per tonne fro...Read More

Nickel was the element on every traders’ radar this week as fears over supplies from Indonesia caused a leap in the price of the metal - seen as having a hot future as the key component of modern electric vehicle batteries.   The metal dubbed ‘devil’s copper’ is now up almost 40% in 2019, with the latest jump caused by an Indonesian pledge to stick with plans to ban...Read More

 It's the ultimate "no-brainer" that serious American GDP growth (in the 6% range or higher) can only happen by eliminating the PIT (personal income tax) for the middle class.QE and low interest rates incentivize pathetic levels of debt-oriented GDP growth while incentivizing the government to get more reckless with the money that is borrowed and extorted from citizens as taxes.Elimination of...Read More

 It's the ultimate "no-brainer" that serious American GDP growth (in the 6% range or higher) can only happen by eliminating the PIT (personal income tax) for the middle class.QE and low interest rates incentivize pathetic levels of debt-oriented GDP growth while incentivizing the government to get more reckless with the money that is borrowed and extorted from citizens as taxes.Elimination of...Read More

"Communication," Cook told the Noosa Mining and Exploration Investor Conference. "My experience has been Australian companies are not that good at communicating with shareholders.Read More

Alcoa this week reported negative free cash flow of US$7 million on its $2.7 billion of second-quarter revenue. A net loss of $402 million, or $2.17 per share, included the $319 million one-off cost of divesting its interest in the Ma'aden Rolling Company (MRC) in Saudi Arabia, and $81 million of other special items.The company's weak FCF isn't helping reduce its heavy net debt load.New York inves...Read More

Louisiana is home to the largest liquefied natural gas (LNG) projects in the world.Data from the Federal Energy Regulatory Commission (FERC) shows at least 17 new LNG projects currently approved and proposed for the Bayou State that are estimated to increase output by over 30 billion cubic feet per day (Bcf/d).One such project being developed by Golden Pass Products is slated to spend $10 billion...Read More