The uptrend in flat-rolled steel import prices in South America persisted during the week ended Friday December 4, with offers from China, Japan and Brazil all at higher levels than previously for February-shipment cargoes.But at the same time, market participants were still seeing much lower bids, citing the rising costs of steel products as a major problem this year."[This uptrend is] creating b...Read More
The price of domestic hot-rolled coil in Northern Europe increased further day-on-day on Friday December 4, supported by a general shortage of flat steel, sources told Fastmarkets.European mills also increased official offers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?575.00 ($697.58) per tonne on Friday December 4, up by ?,?5.00 per ton...Read More
The price for pig iron exports from Brazil increased again during the week to Friday December 4 mainly because of a global uptrend, although trade from the country was muted over the week.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $420 per tonne on Friday, up from $405 per tonne a week before.No new sales were heard from the south of Brazil during the w...Read More
Gary Nagle will become the new chief executive officer of Glencore when Ivan Glasenberg retires during the first half of 2021, the company said on Friday December 4. Nagle is currently global head of Glencore's coal industrial business based out of Sydney Australia, and will return to Switzerland to begin a transition to the new role.After 18 years as Glencore CEO, Glasenberg will step down f...Read More
Nearly two months after Chinese steel mills were verbally notified to halt imports of Australian coal, market participants and industry analysts tell Fastmarkets about the consequences of the ban and their predictions for its future. Utilities companies and steel mills in China were verbally notified during the Golden Week holiday (October 1-8) to stop importing Australian coal with immediate...Read More
China's Baowu Steel Group Corp, the world's largest steelmaker, will continue with its merger strategy over the next few years, which cound result in a increase in its steelmaking capacity to 200 million tonnes per year, the China Iron & Steel Association (Cisa) reported recently.The steelmaker's capacity exceeded 100 million tpy in September when it merged with Chongqing Iron & Steel Co, making i...Read More
They will have to deliver physical silver they have possession of Or BUY BACK a substantial amount of COMEX Silver Contracts triggering the...by Bix Weir of Road to RootaHow will the 8 or less silver short riggers get rid of over 350M oz of Comex Silver Short positions? Were they mandated by the DOJ settlement to square their books by the end of the December? To do this they will either have to de...Read More
Iron ore prices surged further on Friday December 4, supported by active long positions in futures markets and steady drawdowns in port inventory, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $145.01 per tonne, up $7.93 per tonne 62% Fe low-alumina fines, cfr Qingdao: $144.36 per tonne, up $7.38 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $132.83 pe...Read More
Seaborne coking coal prices fluctuated across the board in the fob market on Friday December 4 due to the latest changes in supply, while the cfr market was flat.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.62 per tonne, down $0.46 per tonnePremium hard coking coal, cfr Jingtang: $168.78 per tonne, unchangedHard coking coal, fob DBCT: $92.97 per tonne, up $2.17 per tonneHard coking...Read More
The main global scrap markets continued to move higher in the week to Friday December 4, with most markets continuing regular purchases of material. Turkish steel mills continue to pay higher pricesUnited States market remains subdued post-holidayVietnam reports higher pricesTaiwan market reports optimistic sentiment and tight supplyIndian market expresses uncertainty over higher pricesTurkeyTurki...Read More
ArcelorMittal is to increase its official spot offer price for second-quarter rolling hot-rolled coil across Europe to ?,?650 ($788.56) per tonne ex-works effective immediately, sources told Fastmarkets on Friday December 4.They added that the traditional gap between offers in Northern and Southern Europe has now disappeared altogether.Offers of hot-dipped galvanized coil also moved up to ?,?...Read More
Miner Vedanta's Gamsberg zinc processing plant in South Africa could restart milling operations in the week beginning Monday December 7, Fastmarkets has learned from informed sources.Milling operations at Gamsberg were currently "under planned maintenance" but were "expected to restart next week," a source who claimed direct knowledge told Fastmarkets on December 3.All mining activity has been sus...Read More
The London Metal Exchange base metals complex ended around its recently established highs, with nickel making the largest rise of around 3% on Friday December 4. LME nickel's three-month price closed at $16,399 per tonne at 5pm on Friday, a 2.8% increase from its Thursday close of $15,954 per tonne and up 0.8% from the beginning of the week. The metal had a rocky week, closing at $16,27...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou, Sybil Pan, and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Vale's head of base metals said he is "hopeful" a positive decision will be reached in two days for the sale of nickel-cobalt operation Vale New Caledonia (VNC) on Wednesday December 2.The Brazilian multi-metal miner entered into a 30-day exclusivity agreement to discuss the sale of VNC with a consortium comprising current management and employees of the unit, as well as state investors and S...Read More
Genesis opens new chapter at UlyssesSPONSOREDgenesis minerals'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningPantoro bullish on bigger production profileSPONSOREDpantoro limitedOceanaGold commits to net zero emissions by 2050SPONSOREDoceanagold"We will take a significant proportion of the time allotted to us to complete an exhaustive review of the administra...Read More
Gary Nagle will become the new chief executive officer of Glencore when Ivan Glasenberg retires during the first half of 2021, the company said on Friday December 4. Nagle is currently global head of Glencore's coal industrial business based out of Sydney Australia, and will return to Switzerland to begin a transition to the new role.After 18 years as Glencore CEO, Glasenberg will step down f...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The Copper Mountain mine will be the official trolley assist test site of mining equipment provider Komatsu, with a trial due to commence in mid-2021.Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.That came through in Tuesday's market when Sandfire gave the go-ahead for a $371 million development of T3 on the emerging Kalahari copper belt.Read More
Global nickel premiums were flat week on week, with the absence of an open arbitrage in Shanghai and market participants focused on 2021 negotiations rather than the spot market in Europe, sources told Fastmarkets.A lack of a profitable arb in Shanghai keeps refined nickel premiums unchanged; nickel pig iron (NPI) prices continue dropPremiums in Europe are flat despite an increased interest for ma...Read More