Three-month base metals price on the London Metal Exchange were higher at the close of trading on Monday August 3, with positive manufacturing data prompting an afternoon surge in buying.Aluminium led the charge in a 2% rise at the 5pm close, against standout turnover.Aluminium's outright price closed at $1,752 per tonne on Monday afternoon, its highest closing price since February 13, while turno...Read More

Fastmarkets is extending its consultation on the launch of new copper material price and the potential discontinuation of its monthly assessment of the No2 copper scrap discount on a cif China basis. Fastmarkets is extending its consultation on the launch of new copper material price and the potential discontinuation of its monthly assessment of the No2 copper scrap discount on a cif China basis....Read More

A summary of Brazilian copper producer Paranapanema's financial results for the second quarter of 2020, as stated in its earnings report published on Friday July 31. In brief  The company increases copper cathode exports to offset the negative impact of a weaker domestic market for manufactured products in both Brazil and Latin America as a whole, it said.  Capacity utilization was reduc...Read More

A brief fire outbreak at one of Russian multi-metal miner Nornickel's Arctic power plants had led to the death of one worker, the company said on Monday August 3. Fastmarkets understands that the fire, caused by a short circuit, was confined to six square meters and was extinguished quickly, having no material impact on production at the plant. The fire is the latest in a line of incidents at the...Read More

The US automotive industry's recovery is a tale of two trends - production and sales - and while a strong rebound in production has a more immediate impact on demand for steel, so far the bounce back has been greater in sales.This has translated into a slower rebound in steel demand, American Iron and Steel Institute (AISI) chief economist Timothy Gill said. "The auto market situation has certainl...Read More

Domestic prices for hot-rolled coil in Northern Europe were stable day on day on Monday August 3 due to a seasonal market slowdown, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?412.50 ($485.77) per tonne on Monday August 3, unchanged from Friday July 31.Monday's index was based on "workable" prices heard at ?,?410-415 p...Read More

88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyLithium no quiet place for AVZSPONSOREDavz mineralsScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.IronRidge shows its mettleSPONSOREDironridge resources However, that's exactly what's happened for Newcrest Mining at the Havieron project in Western Australia's Paterson Province.Read More

The metals and equity indices were mixed this morning, Monday August 3, with numerous crosscurrents affecting the markets.Data this morning showed China’s Caixin manufacturing purchasing managers’ index (PMI) climbed to 52.8 in July from 51.2 a month earlier, while Japan’s manufacturing PMI rebounded to 45.2 from 42.6 over the same comparison.But the continuing spread of the Covid-1...Read More

Ferrous scrap sellers in Brazil were expecting to raise their prices in new negotiations with steelmakers, with domestic consumption starting to recover and with increases seen in international prices for scrap and local prices for steel rebar, according to national ferrous scrap association Inesfa.After a lackluster first half of the year in terms of scrap demand, which led in turn to higher expo...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe resource estimate could easily have ended up as an addendum to the company's first (June) half profit report.Read More

Export flat steel product prices from the Commonwealth of Independent States (CIS) region surged by as much as $45 per tonne in the week to Monday August 3.Some suppliers managed to achieve higher sales prices because of rising raw materials costs and limited availability of material in the region.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $435-...Read More

Prices for domestic and imported merchant bar quality (MBQ) steel in the United States were again flat in July while demand was generally stable and modest gains in sales volumes were seen in some markets. Fastmarkets' monthly price assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was $33.80 per hundredweight ($676 per short ton) on Friday July 31, unchanged since...Read More

Target (TGT) an S&P 100 stock moved above $125.97 extending an intermediate uptrend. NVIDIA (NVDA), a NASDAQ 100 stock moved above $431.69 to an all-time high extending an intermediate uptrend.Natural Gas ETN (UNG) moved above $11.27 completing a double bottom pattern.Pre-opening Comments for Monday August 3rdU.S. equity index futures were higher this morning. S&P 500 futures were up 20 po...Read More

British Steel has regained control of port facility Immingham Bulk Terminal (IBT), the company said on Monday August 3. British Steel has agreed a deal with Associated British Ports (ABP) for operational control of IBT, according to the release. The terminal is an important logistics hub for the company because it can handle up to 9 million tonnes per tonne of raw materials to feed steel productio...Read More

Turkish steel mills made no moves in the deep-sea scrap markets on Monday August 3 due to the Eid al-Adha religious holiday in the country.Turkey has been out of the market for the eid since Thursday of last week, when the latest known purchases were heard on the market. The holiday will...Read More

Bangladesh is one of the world's fastest-growing import markets for steel scrap. The country's rapid industrialization in recent years and its lack of natural steelmaking raw material resources mean that scrap imports - in addition to domestic material - are of high importance to the country's steelmakers.But why has 2020 been a particularly important year for the Bangladesh market? And how is Ban...Read More

Fastmarkets' iron ore index for 65% Fe Brazil-origin fines, cfr Qindao reached a record high on Monday August 3 from one year earlier, with prices surging under better market expectations of future iron ore demand amid strong China manufacturing PMI, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.03 per tonne, up $5.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $11...Read More

With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in July 2020.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April, May and June this year.1. US: wire rod from Mexico2. EU: ferro-silicon from China and Russ...Read More

Seaborne premium hard coking coal prices remained relatively flat on Monday August 3 on a lack of transactions in the spot market, while most Chinese market participants can only stand by due to the country's stringent import restrictions on seaborne materials. Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.36 per tonne, down $0.13 per tonne Premium hard coking coal, cfr Jingtang: $11...Read More

Negotiations over premiums for direct-reduced (DR) iron ore pellet for the third quarter of 2020 are still ongoing, sources told Fastmarkets.Vale - the largest global supplier of DR pellets - will diversify the premium depending on the tonnage a buyer will purchase during the quarter, sources told Fastmarkets. "We've not agreed the premium yet because normally we buy five to six cargoes per q...Read More