Turkish steelmakers remained quiet in the seaborne scrap market on the second working day of the week amid holiday and lockdown periods, market sources told Fastmarkets on Tuesday May 18.The country observed the post-Ramadan religious holiday, Eid al-Fitr from May 12 and ended during the country's full lockdown between April 29 and May 16 put in place in an attempt to halt a third wave of Covid-19...Read More

German steelmakers settled monthly contracts in May for steel scrap at higher prices due to tight supply as well as the rising price trend in the international market, sources told Fastmarkets. Availability of new scrap, included E8-grade, has been constrained by stoppages in the automotive segment, which in turn have been caused by a shortage of semiconductors , market participants said. Car manu...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Equity index futures were virtually unchanged following release of April U.S. Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.710 million units from 1.759 million units in March. Actual was 1.569 million units.Home Depot advanced $7.62 to $327.63 after reporting higher than conse...Read More

Seaborne iron ore prices were up across the board on Tuesday May 18, supported by falling stock levels at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $224.44 per tonne, up $6.67 per tonne 62% Fe low-alumina fines, cfr Qingdao: $227.77 per tonne, up $6.97 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $192.70 per tonne, up $6.05 per tonne 65% Fe Brazil-origin fin...Read More

Seaborne premium hard coking coal price surged in the fob market on rising activity, but cfr prices were largely stable on Tuesday on May 18, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $123.63 per tonne, up $2.84 per tonnePremium hard coking coal, cfr Jingtang: $273.15 per tonne, down $0.80 per tonneHard coking coal, fob DBCT: $107.96 per tonne, down $2...Read More

China's hot-rolled coil prices rebounded on Tuesday May 18 amid news of fresh restrictions in the country's Tangshan region, its steel production hub.DomesticEastern China (Shanghai): 6,100-6,120 yuan ($947-950) per tonne, up by 70-100 yuan per tonneTangshan's municipal government has ordered steel mills to suspend their sinter equipment for the first 10 hours from midnight from Tuesday until Thur...Read More

China's will strengthen the exploration and development of its domestic iron ore resources and work to ensure that steel capacity cuts are fully observed, according to it economic planner. "Domestically, we will intensify the exploration and development of iron ore resources, accelerate the construction of new and ongoing iron ore projects, and improve consumption of recycled iron-steel materials,...Read More

You can't have it both ways, but that doesn't mean you can't try. That's what Joe Biden is doing right now.On the one hand, Biden policies are, at least, partly responsible for the recent rise in unemployment and might be largely responsible.They're also responsible for the inability of employers to hire employees so they can reopen their businesses and return to full capacity. If that sounds like...Read More

The zinc price set a new year-to-date high in the morning of Tuesday May 18 on the London Metal Exchange, with worries about the recent political developments in Peru creeping into investor sentiment, while a dollar at its weakest since the end of February pushed most metals prices up too. Zinc's three-month price reached $3,108.50 per tonne on Tuesday during early trading, the most since June 15,...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.Inflation concerns remain elevated, US treasury yields and gold firmerUnited States Federal Reserve officials stick to their view that inflationary pressures will...Read More

Ferroglobe PLC halved its losses quarter on quarter due to higher prices for silicon metal and alloys and manganese alloys in the first quarter ended March 31, according to results released on Tuesday May 18. It was, however, the 13th quarterly loss in a row for the western world's biggest producer of silicon.Higher staffing costs related to the company's ongoing restructuring, including effo...Read More

Glencore "will not hesitate bringing back online part or all" of its Mutanda copper-cobalt asset in the Democratic Republic of Congo, head cobalt trader David Brocas said.But a restart is conditional on a clearer profile for cobalt consumption including a long-term commitment to cobalt purchases from buyers, he added on Tuesday May 18 during the Cobalt Institute's annual conference."We want a stab...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...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 alloy grade,...Read More

A summary of the financial results for Indian steelmaker Jindal Stainless Ltd (JSL) of its fourth quarter ending March 31 of its 2020-21 business year.In brief A strong recovery in domestic stainless steel demand continued in the January-March period, JSL said.There was a healthy revival in demand at JSL's pipe & tube segment, along with railways & allied infrastructure, including the metro segmen...Read More

German steelmaker Thyssenkrupp has signed a joint letter of intent with recycler TSR to explore the use of high-quality scrap in its blast furnaces to reduce carbon emissions, the company said on Monday May 17.The use of recycled raw materials in blast furnaces helps to strengthen the circular economy, reduces use of carbon-containing reducing agents and decreases carbon dioxide (CO2) emissions, a...Read More

Centerra Gold (TSX: CG) has kicked off a series of measures to protect shareholder rights after Kyrgyzstan seized control of the company's Kumtor gold mine on May 17.On a conference call with reporters and analysts today, CEO Scott Perry said the Toronto-based miner is already in contact with Canadian and English authorities, which have offered their support."As a significant investment partner of...Read More

This week's episode features a Thought Leadership segment with Illumiti partner Rory Friedman, who discusses the different ways to administer a mining company using the latest digital tools. Rory explains how scalable solutions now exist that can help organizations grow from a two-person operation to a company with several thousand employees. All this and more with host Adrian Pocobelli.Music Cre...Read More

Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has unveiled a preview of its final showcase of rare pink, red and blue diamonds from its iconic Argyle mine in the remote east Kimberley region of Western Australia.Argyle, the world's biggest and the main global source of high-quality pink diamonds, ceased operations on November 3, after 37 years in production.During that time, it churned out 865 million...Read More

Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has more than doubled the inferred mineral resource of the Calibre gold deposit at its Citadel copper-gold project, a joint venture with junior Antipa Minerals (ASX: AZY), in Western Australia's Paterson province.Following drilling completed in 2020, the inferred resource has been increased by 62% to 2.1 million ounces of gold (previously 1.3 million ounce...Read More