Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie’s latest analysis reveals that China’s crude stock (including strategic and commercial petroleum reserves) could reach 1.15 billion barrels in 2020, equivalent to 83 days of oil demand.Wood Mackenzie senior...Read More
Copper production could resume at Lundin's Candelaria copper mine in Chile after the company agreed a new collective bargaining agreement with a portion of striking workers there, Fastmarkets understands.Lundin reached a deal with around 550 workers from the AOS Union who had been striking over payment while workers...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
(IDEX Online) - De Beers office staff are keeping a social distance thanks to security passes that flash red if they stand too close together. Parent company Anglo American has introduced the Covid technology at its global HQ in London (pictured), home to the De Beers diamond division.The "traffic light" flash passes red and beep if staff come closer than 1.5 meters. They turn amber as a warn...Read More
Zambia's Court of Appeal has ruled that Vedanta can proceed to arbitration with state mining firm ZCCM, in a dispute over the Indian mining major's copper assets in the central south African nation.Vedanta's 79.4% owned Konkola Copper Mines (KCM) in Zambia were seized and ordered to be liquidated in May 2019 over alleged mismanagement. The assets at the heart of dispute are KCM's Nc...Read More
Hammerer Aluminium Industries (HAI) has been provisionally certified against the Aluminium Stewardship Initiative (ASI) 'Performance Standard' for responsible production, sourcing and stewardship of aluminium. The certification is for HAI's remelting and casting operations at the Santana SRL facility in Romania. The plant's operations include the production of extrusion billets and rolling ingots...Read More
London Metal Exchange three-month base metals prices remained broadly unchanged - amid an upbeat sentiment on Monday November 23 - from the previous Friday's session, when most prices rallied on account of momentum-based trading.Nickel's three-month price hit $16,200 per tonne as of 9:20am on Monday, a 0.3% increase from Friday closing price of $16,151 per tonne. AstraZeneca's announcem...Read More
The Chinese price for nickel pig iron (NPI) continued to drop in the week to Friday November 20, with the falling price of domestic stainless steel and some traders' sell-offs at lows dragging prices down, sources said. Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,070-1,100 yuan ($163-168) per nickel unit on Friday, down by 60-70 yuan per n...Read More
Cold-heading quality (CHQ) and high-carbon wire rod prices in the United States rose on Friday November 20 amid higher scrap prices and increased demand. Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 2.8% to $37.25 per hundredweight ($745 per short ton) on Friday November 20 from $36.25 per cwt previously, where the price had remained since September 18.Fast...Read More
Hot-rolled coil prices in the United States have surged on confirmed buying activity and incredibly thin spot availability, prompting at least one electric-arc furnace (EAF) coil producer to quietly communicate a base price increase to customers, Fastmarkets has learned.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $38.80 per hundredweight ($776 per short ton) on Mo...Read More
Domestic steel rebar suppliers to Russia's Central Federal District around Moscow have increased their offer prices slightly, tracking higher export offers, sources told Fastmarkets on Monday November 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 41,000-41,500 roubles ($538-544) per tonne including 20% VAT on Monday, up from 40,000-41,...Read More
Flat steel suppliers to Russia's Central Federal District around Moscow are insisting on higher prices due to the uptrend in the export market, sources told Fastmarkets on Monday November 23.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled (HR) sheet, domestic, cpt Moscow, Russia was at 45,000-48,000 roubles ($590-629) per tonne including 20% value-added tax on Monday Sept...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The lack of secondary copper smelters in the US means the scrap must be shipped off to China, Malaysia or Europe, if the material is to be recovered, said Dr.Read More
Look beyond market approach to project valuations: van ZylLeadershipPantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsMicromine's global summit unpacks the future in mining softwareSPONSOREDmicromineHeaded up by Tesoro Resources' Geoffrey McNamara and Zeff Reeves, Rincon is seeking A$5-6 million at 20c per share to...Read More
The base metals were mixed this morning, Monday November 23, but the underlying trends remain bullish following recent fresh highs in most of the metals. The US dollar index remains weak, helping to underpin metal prices.Base metalsThe three-month base metals prices on the London Metal Exchange were mixed, with zinc and lead weaker by 0.2% and 0.6% at $2,795 per tonne and $2,017 per tonne respecti...Read More
Turkish domestic scrap prices have continued to increase over the past week in line with the rise in imported scrap values, sources said on Monday November 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,250-2,545 lira ($293-332) per tonne on Monday, up from the 2,230-2,455 lira per tonne of last week.The movement came after steel mills...Read More
Turkish steel mills continued to book deep-sea scrap cargoes at the beginning week at slightly higher prices, sources said on Monday November 23.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) 10,000 tonnes of shredded and 5,000 tonnes of bonus, at an average price of $332.50 per tonne cfr.This fresh transaction, led to another slight...Read More
Iron ore prices fell across the board on Monday November 23 due to expectations of weak demand for steel and iron ore during the coming few days of cold weather. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.24 per tonne, down $1.59 per tonne 62% Fe low-alumina fines, cfr Qingdao: $127.49 per tonne, down $1.80 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $117.37 per tonne...Read More
Fastmarkets has decided not to proceed with the proposed amendment of the specifications of the indices for (MB-COA-0003) premium hard coking coal, fob DBCT, $/tonne and (MB-COA-0005) premium hard coking coal, cfr Jingtang, $/tonne, due to changes in spot market conditions.A decision has also been made to not proceed with the proposed launch of two grade-differential indices to reflect the fob Aus...Read More
Prices for seaborne iron ore concentrate and pellets continued to rise in the week ended Friday November 20 amid an increase of demand among Chinese steelmakers due to costlier coking coal, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $137.39 per tonne, up $4.89 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $157.96 per tonne, up $0.24 per tonneKey dri...Read More