Russian multi-metal miner Nornickel reported a second Arctic fuel spill during an aviation refueling exercise, the company said on Sunday July 12.Around 44.5 tonnes of fuel was lost at subsidiary Norilsktransgaz's pipeline in Tukhard, Krasnoyarsk, due to pipeline depressurization, which occurred at 11.15am on Sunday and lasted approximately 15 minutes, the company said.No casualties were repo...Read More

The Aluminum Stewardship Initiative (ASI) announced Aleris Aluminum Duffel, one of the largest rolling mills in Europe, has been awarded the ASI Chain of Custody certification as of July 13.The chain of custody certification is a further step in the plant's commitment to sustainable aluminium product production, Aleris said in an announcement on Monday. "This certificate - together with the A...Read More

The London Metal Exchange three-month copper price increased during morning trading on Monday July 13, up against further supply-related concerns from Chile, while the metal's forward curve held in backwardation amid strong buying momentum.Morning turnover in LME copper was over 17,000 lots on Monday and continues to climb since the European market began trading, with the red metal's outright pric...Read More

Steel plate prices in the United States held steady after declines in the previous two weeks, with buyers still satisfied that they do not need to commit to any major inventory replenishment.Demand for plate has suffered after the Covid-19 pandemic and other factors dealt a blow to end-market sectors in the second quarter. The advent of the third quarter has failed to bring succor so far, with fer...Read More

Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Monday July 13, but prices were likely to move upward supported by the lack of competitive imports, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?403.13 ($453.24) per tonne on Monday, down by just ?,?0.87 per tonne from ?,?404.00 pe...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe potential impact on copper supply is further aggravated by COVID-19 containment measures in place in Peru, which is restricting production there. Various mines in Chile are in collective bargaining processes to establish the next three-year agreements with workers. With many unions looking to suspend work to protect their membe...Read More

The export price for CIS-origin steel slab surged in the week to Monday July 13 with customers in Europe accepting higher prices in their latest bookings. In addition, Chinese buyers also showed a readiness to pay higher prices amid stronger demand.Offers of CIS-origin slab were heard in Turkey and Europe within the range of $395-400 per tonne cfr last week, although some mills reported even highe...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesIts new dispersion index put global activity at 50.7 for June, up from 50.6 in May.China's figures had dropped slightly from 54.6 to 53.9.Artemis all set thanks to unique approachSPONSOREDartemis resourcesMarex Spectron's global head of analytics Dr Guy Wolf said there had been "a record amount of inactive capacity" in China during...Read More

Domestic flat steel prices in Russia's Central Federal district around Moscow were broadly stable in the week to July 13 while market participants were skeptical about mills' attempts to increase prices, citing insufficient demand, sources told Fastmarkets on Monday.Buying activity in the sheet steel market in the region remained moderate over the assessment week, with prices being unchanged, sour...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesAssays are expected in the next fortnight, with Hot Chili optimistic about the likelihood of a major expansion of a "high-grade core" of Cortadera. Another diamond core hole is underway.Read More

Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.* US earnings seasons starts this week, so expect a pick-up in volatility...* ...expectations are for bad results, but the market's reaction will depend on how bad they are. Base metals Three-month base m...Read More

The UK market for deliveries of steel scrap to domestic consumers has dropped month-on-month in line with demand, with steelmakers positioning their smelting schedules for the seasonal summer slowdown.But there was enough support to avoid significantly steeper losses, market sources told Fastmarkets on Monday July 13.Consumers of steel scrap in the UK were expected to cut production in late July a...Read More

Silver equities and related ETFs (SIL) continue moving higher. First Majestic Silver (FR) moved above $14.72 Cdn. extending an intermediate uptrend. Equal Weight Global Metals ETF (ZMT) moved above $35.86 Cdn. extending an intermediate uptrend.Auto ETF (CARZ) moved above $34.23 extending an intermediate uptrend. Check Point (CHKP), a NASDAQ 100 stock moved above $119.67 extending an intermediate u...Read More

Turkish steel producers paused their deep-sea scrap purchases once again at the beginning of the week after booking only two deep-sea cargoes late last week, sources told Fastmarkets on Monday July 13.Turkish steel producers have not been rushing to buy deep-sea scrap so far this month due to weak finished long demand in both the local and export markets.At the end of the last...Read More

Domestic scrap prices in Turkey remained stable over the past week in line with static scrap import values, sources said on Monday July 13.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,660-1,870 lira ($242-273) per tonne on Monday, unchanged week on week. Only one steel...Read More

Seaborne iron ore prices surged on Monday July 13 amid active trading on the platforms and strong gains in the iron ore futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $111.09 per tonne, up $4.77 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $112.85 per tonne, up $4.55 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $99.18 per tonne, up $4.35 per tonne. https://w...Read More

Seaborne premium hard coking coal prices edged downward on Monday July 13 on the influence of recent deals, but there was no activity in the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.49 per tonne, down by $0.54 per tonnePremium hard coking coal, cfr Jingtang: $123.11 per tonne, down by $1.69 per tonneHard coking coal, fob DBCT: $93.66 per tonne, down by $0.17 per tonneHard...Read More

Australia's three main coal terminals in Queensland, including Hay Point Coal Terminal (HPCT), Dalrymple Bay Coal Terminal (DBCT) and Abbot Point, exported a total of 12.2 million tonnes of coal in June 2020. According to statistics from the North Queensland Bulk Ports (NQBP) authority, which controls all three ports, exports from HPCT reached 5.2 million tonnes in June, up by 10.8% month on month...Read More

Copper futures in London and Shanghai soared in early morning trading on Monday July 13 after miners in Chile declared they would strike over wages, Fastmarkets understands.Unionized workers at Antofagasta's Zaldivar mine voted to strike - scheduled for Wednesday July 15 - with 99% of members rejecting a pay offer, Reuters reported. As per Chilean law, the government must mediate between the parti...Read More

Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.US earnings seasons starts this week, so expect a pick-up in volatility......expectations are for bad results, but the market's reaction will depend on how bad they are. Base metals Three-month base metal...Read More