Namibia-based tin mining company Afritin Mining has begun mining in the Erongo district of Namibia, producing its first batch of tin concentrates from its Uis project, while the company also signed a 12-month offtake agreement with Thailand Smelting and Refining Co Ltd (Thaisarco). The Uis tin mine is situated in the Cape Cross-Uis tin pegmatite belt, an expansive mineralisation zone located in Na...Read More
Ahead of Fastmarkets' Battery Materials Europe conference in Amsterdam, find out what our industry experts think are the key drivers in the market and what's on the horizon. Fastmarkets will host a free web seminar on Wednesday September 18 at 3pm London time to discuss recent market moves in the battery raw materials sector. Click here to register for the webinar. Date Wednesday September 18, 201...Read More
The three-month nickel price on the London Metal Exchange declined during morning trading on Tuesday August 20, holding below $16,000 per tonne while aluminium futures moved higher.Recently trading around $15,800 per tonne, nickel's price action dipped by some 2% at Monday's close to settle at $15,920 per tonne. Volumes traded over the morning were thin, with some 1,100 lots of nickel changin...Read More
The development of the Kamoa-Kakula copper mine in the Democratic Republic of the Congo (DRC) will receive a financial boost following a second major strategic equity investment by China's Citic Metal in Canadian mining company Ivanhoe Mines.The mine is jointly owned by Ivanhoe Mines, Citic Metal and China's Zijin Mining.The Canadian $612-million ($459-million) investment brings Citic Metal's inve...Read More
Concerns about weak economic data, geopolitical headwinds and the risk of a slow slide toward global recession are dominating market sentiment; short-term relief may come from more concerted central bank stimulus, but the real cure will only likely come from a new trade deal.Equities and bond markets will no doubt react positively to easier monetary policy, but the metals are unlikely to be hoodwi...Read More
Prices for steel rebar and billet in the United Arab Emirates have remained stable over the past week, with demand poor after the Eid al-Adha religious holiday last week, sources said on Tuesday August 20.Market participants believed that demand would improve after the UAE's biggest producer, Emirates Steel, announced its new rebar price, which it usually does on the 20th day of each month.Domesti...Read More
The principal flat steel suppliers to Russia's Central Federal District around Moscow kept their prices unchanged this week despite a slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was unchanged at 45,100-45,500 roubles ($676-681) per tonne on Monday August 19, including 20% VAT. "Mills are citing pla...Read More
The European Commission (EC) proposed some adjustments to the existing safeguard measures for steel product imports in Europe to the World Trade Organization (WTO) on August 14, Fastmarkets has learned.The definitive safeguard mechanism already in place increases the level of tariff-free quotas for each product category by 5% annually. The first liberalization took place on July 1, 2019, which was...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil declined during the week to Tuesday August 20 after steel mills lowered their asking prices.The move failed to boost market activity, however, because of a bearish market sentiment and expectations that prices will reduce further, market sources said.Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled...Read More
China's domestic hot-rolled coil prices retreated on Tuesday August 20, which led some producers to lower their export offers to secure more orders by the end of the month.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,720-3,730 yuan per tonne, widening downward by 10 yuan per tonneSpot prices retreated after trading acti...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o logged slight increases in the week ended Friday August 16, with some sellers were reportedly receiving higher spot prices from certain consumers.In the Monterrey region, a major mill was heard to be raising prices for higher grades of scrap, including busheling, by around 300 pesos per tonne - the second...Read More
Developments in China's steel industry and the country's persistent focus on implementation of environmental policies will underpin demand for high-quality seaborne iron ore, BHP said in an outlook document on Tuesday August 20.In the medium to long term, the supply side reform, the expected migration of steel capacity to coastal regions, the inexorable trend toward larger furnaces and more string...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 oreVale, Beijing Iron Ore Trading Center,...Read More
Seaborne iron ore prices continued to dip on Tuesday August 20 amid limited buying activity.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $87.94 per tonne, down by $0.46 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $88.32 per tonne, down by $0.46 per tonne. Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $87.79 per tonne, d...Read More
Seaborne coking coal prices for premium hard coking coal materials firmed this week on continued buying activity from China. A cargo of top-quality Australian premium low-vol materials changed hands at $167.25 per tonne cfr China, with a mid-vol quality cargo changing hands at $160 per tonne cfr China, sources said on Tuesday August 20. The trades resulted in Fastmarkets' daily index for premium h...Read More
China's domestic rebar prices stopped rising on Tuesday August 20 amid a weakening of steel futures and soft demand. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($524-528) per tonne, unchangedNorthern China (Beijing): 3,620-3,640 yuan per tonne, unchangedBuyers, having done some restocking on Monday, cut their procurement rates, which kept rebar prices from rising further, sources said. De...Read More
Base metals prices on the Shanghai Futures Exchange were broadly higher during morning trading on Tuesday August 20, with the complex benefitting from improved risk sentiment following positive signals in the ongoing trade war between China and the United States.Risk sentiment received a boost from news that the US government granted a temporary general license that permits companies in the US to...Read More
Chinese ferro-silicon prices softened this past week on weak domestic demand, while the European market similarly retreated following recent price gains after consumers remained sidelined. Chinese domestic ferro-silicon prices widen lower on weak mill demandChinese export prices hold on thin trading amid uncertainty from US-China trade negotiationsEurope market retreats after short-lived recovery...Read More
The drone sound from the markets has not changed - no progress on United States-China trade talks, continued economic headwinds and various simmering geopolitical concerns.The fact there is more central bank and government talk about monetary easing and the need for stimulus highlights the far from bullish situation the global economy is in and that is reflected in market sentimentAsian equity mar...Read More