The price of shredded steel scrap imported into India moved up on Friday October 30 as a result of tight material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $321.21 per tonne on Friday, up from $316.16 per tonne one week earlier.Deal prices heard during the week were in the range of $322-324 per tonne, up from $...Read More
Prices for inter-merchant light iron scrap in the UK market were stable over the week to Friday October 30 on tight supply, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?95-105 ($123-136) per tonne on October 30, unchanged from the week before.Scrap collection has been 40% below the usual level for th...Read More
The price paid for pig iron exported from the Commonwealth of Independent States (CIS) rose in the week to Thursday October 29 on a new sale to the United States and Asia amid low availability, sources said.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $355-360 per tonne on October 29, up from $350-353 per tonne a week earlier.A sale of...Read More
A summary of Glencore's 2020 third-quarter production report for the coal sector, released on Friday October 30, where the company maintained its 2020 full-year production guidance except coal, which was adjusted for the extended strike at the Cerrejon mine.In brief The company's year-to-date (YTD) coal production of 83.5 million tonnes was 20.5 million tonnes or 20% lower than the comparable prio...Read More
The London Metal Exchange will finalize the last stage in the relaxation of its queue-based rent capping (QBRC) rule on Sunday November 1, when the rule moves to 80 days full rent.The threshold has been extended under a phased implementation over the past nine months. It began on February 1, 2020, when the rule moved to 50 days full rent, from the original rule of 30 days full rent and 20 days hal...Read More
Stock levels of all base metals except lead dipped in Shanghai Futures Exchange-registered warehouses in the week to Friday October 30, with copper dominating the declines in percentage terms.Copper stocks were assessed at 139,657 tonnes over the week, a decline of 15,849 tonnes, or 10.2%, from a week earlier, with the largest outflow of 4,398 tonnes from the Zhongchu Wuxi warehouse...Read More
Seaborne premium hard coking coal prices edged up on Friday October 30 after a transaction of premium hard coking coal was done at a price slightly higher than yesterday, sources said, adding that the fob market had gained some support.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.94 per tonne, up $0.20 per tonne Premium hard coking coal, cfr Jingtang: $135.80 per tonne, up $0.54 per...Read More
Iron ore futures and seaborne prices both rebounded on Friday October 30, supported by growing demand for steel, although trading activity in the physical market remained limited, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.49 per tonne, up $1.49 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.66 per tonne, up $0.82 per tonne58% Fe fines high-gr...Read More
London Metal Exchange three-month base metals prices were mostly trading down in the morning session on Friday October 30 with the complex subject to selling pressure amid the uncertainty over further Covid-19 lockdowns."We are expecting LME base metals prices to run into further selling in the short term. The upward momentum seen in early October has run its course and is beginning to give way to...Read More
Ferro-titanium's price rise in the United States has halted after six weeks of increases, although prices continued to gain in Europe this past week.Both markets rose on the same supply shortage, for ferro-titanium and especially for the scrap from which it is entirely made. Additionally, meanwhile, demand from steel consumers improved.With the historic scrap shortage worsening, some sellers to th...Read More
An overview of the aerospace materials markets and the latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 30.China Weakening portside ore prices and historically high port inventories continued to put downward pressure on the market for low-grade seaborne manganese ore. The market for higher grade ore ticked down now that contract negotiations are underway with sellers looking to uphold their...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 30.China Export prices held steady after rising by 2.2% in the previous two weeks. Some suppliers expected the upward trajectory to resume in the near future with a tightening of material supply at hand. But liquidity has been light, with overseas consumers driven away by the...Read More
Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY) announced drill results that provide further support for the development of a future underground operation at the East Gouldie, Odyssey and East Malartic zones at its Canadian Malartic open-pit gold mine in Quebec.The precious metals miner said that an ongoing $24-million drill program had confirmed expected grades and widths of East Gouldie mineral inve...Read More
VanadiumCorp Resource (TSXV: VRB; US-OTC: APAFF) has released the first resource estimate for the Main zone at its wholly-owned Lac Dore vanadium project in northern Quebec, about 27 km east-southeast of Chibougamau."Our first mineral estimate exceeded our expectations and shows that Lac Dore is one of the largest and highest-grade vanadium resources in North America," Adriaan Bakker, VanadiumCor...Read More
A decade ago BHP Billiton was gearing up to dig the world's biggest hole in the Australian outback.In 2011, BHP delivered the largest annual profit in Australian corporate history and, like its peers, was flush with cash as China bought up metals and minerals at never seen before rates.Iron ore prices appeared headed to US$200 per tonne, copper was setting records above US$4.50 per lb. (US$10,000...Read More
The world's second largest miner Rio Tinto (NYSE: RIO; LSE: RIO) is investing US$51 million to upgrade facilities at its Vaudreuil alumina refinery in Quebec.The company said three new energy efficient buildings are under construction and existing facilities will be rearranged to provide close to 400 employees with a centralized control room, offices and common areas.The project, expected to be co...Read More
Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsRamelius now among WA gold frontrunnersSPONSOREDramelius resourcesAgile Mining - The Future is Smaller. Bigger is not always betterSPONSOREDproudfootStarting with precious metals, the general assumption is a Biden win will be better for gold in the short-to-medium term,...Read More