The inter-merchant spot market for light iron scrap in the United Kingdom was up over the week to Friday August 14 due to firmer demand from major shredders that supply consumers in the steel sector combined with persistently tight availability, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was assessed at...Read More

The South American flat-steel import market continued on an uptrend in the week to Friday August 14, with customers accepting more expensive offers from several different regions.Clients decided to settle deals for October-shipment cargoes at higher prices, because demand was gradually improving and their supply needs had grown. It had become evident that it was now a seller's market, participants...Read More

London Metal Exchange aluminium futures closed at their lowest level in two weeks, but copper, lead, nickel and tin finished the day strongly, rebounding after losses in previous days.The LME's three-month aluminium 5pm closing price was $1,746 per tonne on Friday August 14, down by $7.50 per tonne from Thursday's close and marking its lowest closing level since July 31.Prices were under downward...Read More

Fastmarkets copper concentrate treatment and refining charge (TC/RC) index continued to set new lows this week while smelters' buying levels were consistently below $50 per tonne/5 cents per lb.Market activity has slowed down from last week, with one parcel of Escondida bought by a Chinese smelter at $49/4.9 cents, while other clean qualities had TCs within a narrow range of $47.50-50.50 per tonne...Read More

A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) in the second quarter, according to parent company Votorantim's earnings reported released on Friday August 14.In brief Sales volumes of upstream aluminium products were down in an annual comparison, with weaker demand causing billet sales to drop to 25,000 tonnes in the second...Read More

State-run Chilean copper producer Codelco is resuming work at an expansion of its El Teniente division and the project should reach full capacity "in a couple of months," its chief executive officer Octavio Araneda said on Thursday August 13.The company idled works at the facility - in the central Bernardo O'Higgins region 100km south of the capital Santiago - in early July to contain Covid-1...Read More

Zinc stocks in Shanghai Futures Exchange-registered warehouses fell the most in percentage terms by 9.5% or 7,987 tonnes to 76,512 tonnes in the week to Friday August 14. The outflows mainly came from warehouses run by R&S Logistics in Shanghai and Nnachu in Guangdong with declines respectively of 1,386 tonnes and 4,860 tonnes to 12,061 tonnes and 28,549 tonnes. "The import arbitrage window has be...Read More

The European Commission has opened an anti-dumping investigation into certain aluminium flat rolled products originating from China, it said on Friday August 14. This follows a complaint made by European Aluminium, the industry association that represents the aluminium industry in Europe. In a statement released on Friday, European Aluminium urged EC to follow through with appropriate anti-dumping...Read More

Hot-rolled coil prices in the United States have climbed above $23.50 per hundredweight ($470 per short ton) due to reports of business activity increasing and sentiment strengthening - albeit unevenly given mixed demand depending on the end market. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.59 per cwt ($471.80 per ton) on Friday August 14, up by 1.2% fr...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company is moving ahead with permitting and feasibility study work and says "a major component of this study [is] finding a solution for clean energy".The power agreement with CNEL confirms availability of a regional substation 7.5km from La Plata, and "allows the streamlining of the electrical power [69kv] supply to the projec...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesNorthern Dynasty president and CEO Ronald Thiessen said the only way to stop Pebble was by federal govenrment expropriation - extremely difficult since the deposit was on state lands.The company scored a critical victory last month when it received a positive environmental impact statement for its proposed Pebble copper-gold-m...Read More

Indian steel mills achieved a $10-20 per tonne increase in their hot-rolled coil export prices in the week ended Friday August 14, even though inquiries have dried up for future export sales."The export market has cooled off and there are very few bids or inquiries for HRC exports," an official with an Indian steel mill said.According to one market participant, buying interest from mills has reduc...Read More

Sentiment in the CIS export billet market had cooled down somewhat by the end of the week, with demand in most destinations only modest and bookings rare, sources told Fastmarkets on Friday August 14.Despite this, CIS billet producers were in no hurry to reduce their offer prices, they added."Order books are strong [so] mills can wait," a billet producer source told Fastmarkets.And a trader s...Read More

Liberty Steel Group, part of the GFG Alliance, is to buy French steel rail business Hayange and the Ascoval steelworks. Liberty Steel Group has committed to providing an initial ?,?65 million ($76.83 million) in new financing for Hayange and Ascoval to enact its industrial plan. Further details of development plans for the sites will be announced in due course, Liberty Steel said on Friday August...Read More

Prices for both hot-rolled coil and cold-rolled coil in Turkey's domestic market have increased over the week to Friday August 14, but demand was only moderate because of the holiday season, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $510-515 per tonne on August 14, rising from $500-505 per tonne on August 7.HRC...Read More

Turkish prices in the domestic market for hot-dipped galvanized coil (HDG) and color-coated coil increased slightly in the week to August 14, but demand was weaker than last week because of the holiday season, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Turkey was $660-670 per tonne on August 14, widening upward from $660-665 per tonne on August 7.Tur...Read More

Applied Materials (AMAT), a NASDAQ 100 stock moved above $66.95 to an all-time high extending an intermediate uptrend. Target price was raised by Mizuho and Stifel Nicolaus this morning. Pre-opening Comments for Friday August 14thU.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures moved slightly higher following release of...Read More

Pig iron exporters from the south of Brazil were bullish over the week ended Friday August 14, but no higher-priced sales were made over the period, Fastmarkets heard.Fastmarkets' latest price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil, was $340 per tonne on Friday, unchanged week on week.Offers went up to $350 per tonne fob, but...Read More

The import pig iron market in the United States remained quiet over the week ended Friday August 14, with the steel market depressed and buyers not ready to pay as much for pig iron as buyers in China.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US, was $340-345 per tonne on Friday, unchanged week on week.One buyer in the US estimated that the spot market price in...Read More

The price of austenitic stainless steel scrap in the UK fell this week on lower nickel costs, despite supplies being tight due to the closure of many scrap-producing facilities, sources told Fastmarkets on Friday August 14. Fastmarkets' weekly price assessment for stainless steel scrap, 18/8 solids, domestic, delivered merchants UK, was ?820-840 ($1,072-1,-1,098) per tonne on Friday, down by ?20...Read More