The price of shredded scrap imported into India continued to move down this week, with trading slow due to poor market sentiment, sources told Fastmarkets on Friday September 25.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $ 309.58 per tonne on Friday, down from $317.57 per tonne one week previous.Two deals were heard for shredded this week, one at $3...Read More
The market for UK inter-merchant light iron scrap was stable in the week to Friday September 25, with enough domestic demand and limited availability offsetting a recent drop-off in export demand to traditional destinations such as Turkey and the Indian subcontinent, industry sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inte...Read More
Early during the week to Friday September 25, pig iron import deal prices in the United States overtook the market level in China, which had been driving the global market since March, but eased later in the assessment period. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US softened to $380-387 per tonne on Friday from $385-387 per tonne one week earlier. One spot b...Read More
A Turkish steel producer broke the silence in the deep-sea scrap market on Friday September 25 after two quiet weeks, securing deals for two cargoes, sources told Fastmarkets.A steel mill in northern Turkey booked a Baltic Sea cargo, comprising 12,000 tonnes of HMS 1&2 (80:20), 10,000 tonnes of shredded, 1,000 tonnes of bonus and 1,000 tonnes of busheling at an average price of $299 per tonne...Read More
Sentiment in the Commonwealth of Independent States' (CIS) pig iron export market turned negative amid falling prices in the Chinese raw materials and finished steel product markets in the week to Thursday September 24.The typically strong demand for finished steel products in the September-October period has not appeared in China this year, sources said.Market sources expect the housing market, i...Read More
China imported 263,032 tonnes of alumina in August, up 119% year on year from 120,000 tonnes in August 2019, according to Chinese customs data released on Thursday September 24.This follows China's alumina imports hitting a four-year high of 417,263 tonnes' last month.Alumina importsAugust imports: 263,032 tonnes, up by 119% year on year, down by 40% month on monthJanuary-August imports: 2,619,015...Read More
Mid-grade fines prices made limited movements on limited trading activity but low-grade fines were heard to be popular with the mills again amid shrinking margins, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $115.21 per tonne, up $0.54 per tonne.62% Fe low-alumina fines, cfr Qingdao: $115.74 per tonne, up $0.28 per tonne.58% Fe fines high-grade premium, cfr Qingdao:...Read More
Seaborne premium hard coking coal prices were relatively steady on Friday September 25 with no transactions heard, however, market participants expect premium hard coking coal prices to increase gradually and higher hard coking coal and pulverized coal injection (PCI) prices in the cfr market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.81 per tonne, down $0.05 per tonne Premium har...Read More
Soft demand sent China's domestic rebar prices falling this week, with those in the eastern region being down by 60-80 yuan per tonne despite holding steady on Friday September 25. DomesticEastern China (Shanghai): 3,600-3,640 yuan ($528-534) per tonne, unchangedNorthern China (Beijing) weekly assessment: 3,570-3,590 yuan per tonne, down by 50 yuan per tonne End users kept their rebar invent...Read More
Base metals prices on the London Metal Exchange were mixed but little changed this morning, Friday September 25, this after once again running into dip-buying on Thursday.A late rally in US equities on Thursday lent support to broader markets.US Congress is working on a $2.2 trillion stimulus package that could be voted on next week.Asian-Pacific equities were for the most part stronger this morni...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt standard grade, in-whs...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
Battle North Gold (TSXV: BNAU; US-OTC: NBAUF) has released assay results from drilling at the McFinley and Pen zones at the company's wholly owned Bateman gold project in northwestern Ontario's Red Lake mining district, 265 km northeast of Winnipeg.The two zones, which are located at a depth of less than 300 metres, form part of the "string of pearls" exploration targets near the project's infrast...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday September 25.China Tight spot availability continued to consolidate the domestic market with prices remaining firm amid positive sentimentSome mills raised their October tender prices for 72% ferro-silicon, while the market was waiting for tender prices from major steel mills ...Read More
First Majestic Silver (TSX:FR; NYSE: AG) says it is getting ready to appeal a Mexican court decision this week that revoked a key agreement determining how the silver producer was taxed in the country.The federal court's ruling, yet to be formally delivered to the Canadian miner's subsidiary, Primero Empresa Minera, cancels an Advanced Pricing Agreement (APA) governing the tax on silver sales betw...Read More
The price of flat stainless steel products in Europe increased in the week to Friday September 25 on higher nickel costs, sources told Fastmarkets. Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?1,980-2,030 ($2,308-2,366) per tonne, up by ?,?50 per tonne week on week from ?,?1,930-1,980 per tonne previous...Read More
Covid-19 has affected the mining industry in unprecedented ways, ranging from forced mine shutdowns in some cases to profound fluctuations in supply and demand for various commodities. As the economy begins to reopen, preserving cash flow remains pertinent to the long-term health of mining companies, especially junior mining companies. Third-party litigation funding - that is, the financing of lit...Read More
Maritime Resources (TSXV: MAE) has reported drill results from its past-producing Hammerdown gold project, which returned gold intersections within the proposed pit shell, outside of existing resources, and high-grade hits below the pit shell. The project is near the Baie Verte mining district of Newfoundland and Labrador.Drilling targeting the Wisteria zone at the Hammerdown deposit, at the inter...Read More