UK inter-merchant spot prices for light iron scrap increased in the week to Friday August 21 on tight availability, due to falling scrap generation in recent months while domestic and export demand has remained steady, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was  ?95-105 ($125-138) per tonne...Read More

The import pig iron market in the United States was quiet during the week to Friday August 21, but buyers are expected to start restocking soon, according to market sources.Fastmarkets' price assessment of pig iron, import, cfr Gulf of Mexico, US was unmoved week on week at $340-345 per tonne on Friday, with no activity reported. "The US will need to buy at some point, but for now they...Read More

Asian import scrap prices continued to rise in the week to Friday August 21 amid solid demand in Vietnam, Taiwan and South Korea, but buyers in Turkey remained away from the market while the Indian market softened.Turkish mills face weak lira, low long-steel demand, and want lower scrap pricesUS export markets quiet with lack of recent sales from East CoastVietnamese import scrap prices benefit fr...Read More

Brazil's pig iron export market was quiet during the week to Friday August 21, but suppliers remain optimistic amid full order books, sources told Fastmarkets. Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $343-348 per tonne on Friday, up from $340 per tonne one week earlier.Almost no...Read More

The price of austenitic stainless steel scrap in the UK edged up this week on higher nickel costs, sources told Fastmarkets on Friday August 21. Fastmarkets' weekly price assessment for stainless steel scrap, 18/8 solids, domestic, delivered merchants UK was ?840-850 ($1,104-1,117) per tonne on Friday, up by ?10-20 per tonne from ?820-840 per tonne a week ago.The daily official three-month nick...Read More

Turkish steel producers have ended a second consecutive working week with no deep-sea scrap bookings due to poor demand for their long steel products, sources told Fastmarkets on Friday August 21.The most recent deep-sea bookings were heard on August 7 for United States- and Baltic Sea-origin HMS 1&2 (80:20) at $285 per tonne cfr.Since then, the Turkish mills have paused their scrap purchases as d...Read More

The price of containerized ferrous scrap imports into India was little changed this week, ending its six-week rally, following other global markets' pause in buying activity, sources told Fastmarkets on Friday August 21. Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $309.47 per tonne on Friday, just 17 cents down from $309.64 per tonne one week pre...Read More

Seaborne premium hard coking coal prices edged up on Friday August 21, with ex-China demand picking up, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.71 per tonne, up $0.54 per tonne Premium hard coking coal, cfr Jingtang: $114.63 per tonne, up $0.03 per tonneHard coking coal, fob DBCT: $85.19 per tonne, up $0.17 per tonneHard coking coal, cfr Jingtang: $98.29 per tonne,...Read More

Iron ore fines prices were lower across the board on Friday August 21 after news Tokyo Steel will resume exports to China delivered a blow to market expectations for domestic steel production and demand for iron ore. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.38 per tonne, down $1.94 per tonne 62% Fe low-alumina fines, cfr Qingdao: $126.71 per tonne, down $1.88 per tonne&nbs...Read More

Taiyuan Iron & Steel (Tisco), China's second-largest stainless steel producer, suspended the trading of its stock on the Shenzhen Stock Exchange on Friday August 21 following an announcement on Thursday evening that there will be a change in its controlling shareholder.Market participants expect the Baowu Steel Group, the country's largest producer of carbon steel, to replace Shanxi province's Sta...Read More

The cobalt market has consolidated recent gains and sellers are now looking at an anticipated return of consumer demand in Europe to stoke further price increases, but not all market participants are certain this will materialize. Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam stood at $15.25-15.50 per lb on Friday August 21, unchanged from the previous day. The sta...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...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 Rotterdam, $/lb at 15.25-15.50 on Friday...Read More

An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More

Government incentives will help solidify a future shift to cleaner energy, in addition to buffering electric vehicles (EVs) from the trend of declining sales faced by the wider automotive sector during the Covid-19 pandemic, attendees heard during a Fastmarkets webinar this week. "The question with incentives is always whether they just pull sales forward, and to some extent, we do feel like that...Read More

The Baowu Steel Group, China's largest steelmaker, is now the controlling shareholder of the Taiyuan Iron & Steel Group (Tisco), the country's second-largest producer of stainless steel, the latter has announced.Shanxi province's State-owned Assets Supervision & Administration Commission, which owned all of Tisco's shares, transferred 51%...Read More

A year ago, Glencore (LSE: GLEN) announced it was halting operations at its Mutanda copper-cobalt mine in the Congo, breathing life into a market that was trading at levels 70% below its peak hit 18 months previously.Given that Mutanda is the world's largest cobalt mine and responsible for a fifth of global output in a market of only 135,000 tonnes per year, market reaction was muted. Congo domina...Read More

In the summer of 1925, the discovery of gold in northwestern Ontario's Red Lake region triggered the last great gold rush in North America.At the height of the gold rush, in 1926, more than 3,000 people had converged on the region.By 1936, Howey Bay, in the heart of Red Lake, was the busiest airport in the world, transporting freight and passengers in and out of the goldfields every 15 minutes.To...Read More

Iamgold (TSX: IMG; NYSE: IAG) has delayed the sale of its Sadiola gold mine in Mali, a joint venture with South Africa's AngloGold Ashanti (NYSE:AU), as the country reels from a coup, the second in less than ten years.The Toronto-based miner and its partner reached a US$105 million deal in December to sell their 82% combined stake (41% each) in the gold project to Australia's Allied Gold.The trans...Read More

AngloGold Ashanti (NYSE: AU) will have to keep trading shares in South Africa to conclude the sale of its last remaining assets in the country to rival Harmony Gold (NYSE: HMY), a government official said today.The company, which announced the sale of its remaining asset in its home country earlier this year for US$300 million, must also keep its headquarters in Johannesburg, the source from the D...Read More