Fastmarkets proposes to increase the frequency of its India ferrous shredded scrap index to twice each week because of continued price volatility in the market.The steel scrap shredded, index, import, cfr Nhava Sheva, India, is subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis. This means that the index, currently c...Read More

Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday. The US Dollar Index continues to trend lower.Base metalsLME three-month base metals prices were up by an average of 0.7% this morning, once again led by a 1.2% rise in...Read More

Demand and prices for steel billet in China were likely to be affected by new restrictions on re-rolling activity in the major production hub of Tangshan, sources have told Fastmarkets.Curbs on blast furnace-based sintering in Tangshan, together with solid demand for long steel products, has driven up billet consumption at some mills and re-rollers in the city this year. That has resulted in the p...Read More

Spot prices for imported ferrous scrap to China remained largely stable on Tuesday April 20, while cargoes of scrap booked in recent weeks have been gradually clearing customs, sources have told Fastmarkets.A steelmaker in north China had its first shipment of imported scrap successfully clear customs at Tianjin port on April 14, while a Chinese metals and minerals trading company had a cargo clea...Read More

Iron ore prices surged on Tuesday April 20 amid strong mill results, which reflect very healthy margins, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $189.61 per tonne, up $7.81 per tonne62% Fe low-alumina fines, cfr Qingdao: $190.03 per tonne, up $7.48 per tonne58% Fe fines high-grade premium, cfr Qingdao: $164.40 per tonne, up $6.91 per tonne65% Fe Brazil-origin fines, cf...Read More

Seaborne premium hard coking coal prices in the cfr China and fob Australia markets stayed largely stable on Tuesday April 20, sources told Fastmarkets.Both supply and demand for seaborne cargoes remained weak in the Chinese market while some gradual and necessary procurement activities took place in the fob market, market sources told Fastmarkets. Fastmarkets indices Premium hard coking coal, f...Read More

Italian domestic steel scrap prices have been largely unchanged in the month to Monday April 19, supported by limited availability of some grades of the material, market sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy was unchanged over the month at ?,?335-345 ($402-414) per tonne on Monday.And the correspondi...Read More

The London Metal Exchange three-month nickel price rebounded on Tuesday April 20 morning following its 1.5% dip on Monday at the close, while copper continued its price rise.LME three-month nickel was at $16,240 per tonne at 9am, a 0.7% increase from its Monday closing price of $16,121 per tonne. The metal fell by 1.5% on Monday from Friday's close of $16,363 per tonne following news that the...Read More

Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday.The US Dollar Index continues to trend lowerBase metalsLME three-month base metals prices were up by an average of 0.7% this morning, once again led by a 1.2% rise in co...Read More

Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday April 16.Key driversChina The price of silicon in China continued to drop after a previous rally, and leading producers reduced their offer prices for the domestic market. Numbers of deals and inquiries thinned, with buyers holding back. Sources expected the market to have more supply, with producers...Read More

The decay of America’s middle class has been well documented and many commentators have explored the causes.This decay isn’t random; the income of the middle class isn’t going to suddenly increase at 15 times the growth rate of the income of the top 0.1%.The income of the top 0.1% grew 15 times faster than the incomes of the bottom 90% because that’s the only possible outpu...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.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...Read More

A summary of Russian miner Nornickel's production results for the first quarter of 2021 as stated in a company announcement released on Monday April 19.In brief: Production of copper and nickel was down 21% and 10% respectively year on year - the company continues to face challenges caused by an accident at the Norilsk Concentrator and production delays at its Oktyabrsky and Taimyrsky mines due to...Read More

Key data from Fastmarkets' pricing session in China on Friday April 16.Key drivers Limited activity in the market, with inquiries and deals thinning. Ample supply owing to Chinese smelters having resumed operations...Read More

Japan's aluminium seaborne spot market has rebounded strongly after a quiet 2020 that was characterized by thin spot trading volumes and buyers asking to defer deliveries - and the benchmark premium could keep rising.Activity has picked up dramatically in the second quarter of 2021, with constrained domestic supply propelling spot trades as high as $170 per tonne.Last week, a spot deal was heard a...Read More

After years of neglect, uranium stocks have been enjoying time in the sun. What's interesting is that today's spot price of US$30 per lb., while considerably higher than it's multi-year low in 2016 of US$18 per lb., is still below the level needed for most producers to make a profit and well below that needed to incentivize new mine construction. There's no question that positive sentiment has b...Read More

This week's episode features an in-depth interview with CPM Group managing partner Jeffrey Christian on his view of the commodities 'supercycle' narrative, as well as copper, palladium and macroeconomics in general. Jeffrey was previously the head of commodities research at J. Aron & Company, which was acquired by Goldman Sachs, and formed CPM Group through a management buy-out of the commodities...Read More

Vale (NYSE : VALE) has inked a deal to acquire Mitsui & Co's stake in the Moatize metallurgical and thermal coal mine and port project in Mozambique, as the Brazilian miner works to exit the fossil fuel and become carbon neutral by 2050.The company is buying the 15% interest in the venture held by Japanese trading company Mitsui for a token fee (US$1), as well as Mitsui's interests in the Nacala L...Read More

Alamos Gold (TSX: AGI; NYSE: AGI) is seeking to obtain more than US$1 billion from Turkey for what it deems as "unfair and inequitable treatment" of its Kirazli gold project, which has been halted since 2019 following protests and the expiration of the mining permit.The Toronto-based miner and its Netherlands units, which have had an active presence in Turkey since 2010, said the claim will be fi...Read More