Domestic prices for hot-rolled coil in Europe have continued to rise, supported by tight domestic and overseas supply and strong demand, sources told Fastmarkets on Wednesday May 26.Although buyers had to accept higher prices to secure their required volumes, they have become more cautious about the sustainability of the upward trend in Europe due to falling prices in China.The drop in Chinese fla...Read More

European steel H-beam prices remained on an upward trend on Wednesday May 26, with producers still committed to continued increases, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?900-920 ($1,102-1,126) per tonne on Wednesday, up from ?,?880-900 per tonne a week earlier.Following several months with consistently well-fille...Read More

The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021, the company said on Wednesday May 26.With 19 million Reais ($3.6 million) in investments for a revamp, ArcelorMittal will resume activities with one of the two electric arc furnaces in the plant. The company first cut output at...Read More

Rebar prices in the south of Europe continued to rise in the week to Wednesday May 26 on support from good order books at mills and rising scrap prices, while buyers were struggling to keep pace with surging offers, Fastmarkets heard.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?730-750 ($906-918) per tonne on Wednesday, up from...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe 205 workers remotely manage pits and cathode and concentrator plants at the Escondida and Spence copper mines, The union said Escondida's profits jumped 119% in 2020 to US$2.Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationTshisekedi made the announcement on Twitter, congratulating the company for "having reached this important milestone which indicates that the DRC is open for business and investment".Read More

Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price.* While the United States Federal Reserve generally seems to be remaining dovish, the vice chair, Richard Clarida, spoke of a “soft landing...Read More

Daily PDFs will be downloadable until Monday May 31. After that, because of the UK's Spring bank holiday, the next daily PDF will be downloadable on Wednesday June 2.Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Urban Outfitters gained $1.64 to $36.60 after reporting higher than consensus first quarter sales and earnings. Toll Brother added $0.28 to $62.30 after reporting higher than consensus fiscal second quarter revenues and earnings. Nordstrom dropped $1.60 to $34.88 after reporting lower th...Read More

Turkish steel producers resumed their deep-sea scrap bookings when buying a US-origin cargo at a lower price than in other recent deals, market participants told Fastmarkets on Wednesday May 26.A Turkish steelmaker booked the US cargo, consisting of 44,000 tonnes of HMS 1&2 (95:5) at $515 per tonne cfr.The most recent deep-sea transactions were done at the end of last week.A steel mill in the Iske...Read More

Chinese importers of steel scrap showed low buying interest in foreign cargoes during the week to Wednesday May 26 amid sharp declines in Chinese finished steel prices, with their bids much lower than offers.Bids for steel scrap were heard as low as $500 per tonne cfr northern China, which is equivalent to around $490 per tonne cfr eastern China, with buying interest dropping after finished steel...Read More

In Chapters One and Two of my new book, The New Great Depression, I explain how the pandemic originated from a bioweapons laboratory in Wuhan, China and how the virus spread around the world, regardless of policies such as lockdowns and masks, which proved to be useless.But, in Chapter Five, I explore one of the least reported and potentially longest lasting legacies of the pandemic - mental healt...Read More

China's domestic rebar prices dropped on Wednesday May 26 as a result of heavy rain in some eastern regions of the country negatively affecting demand.DomesticEastern China (Shanghai): 4,820-4,840 yuan ($754-757) per tonne, down by 80 yuan per tonneHeavy rain in the eastern Chinese provinces of Zhejiang, Fujian and Jiangxi led to reduced consumption of rebar at construction sites and disrupted tra...Read More

China's hot-rolled coil prices slid further on Wednesday May 26 in both domestic and export markets amid lower market activity.DomesticEastern China (Shanghai): 5,170-5,220 yuan ($809-816) per tonne, down by 220-260 yuan per tonneHRC stockists were active in selling material from their warehouses to get capital flow for month-end payment and to avoid losing more money on further possible price dro...Read More

Base metals prices on the London Metal Exchange rose slightly across the board during morning trading on Wednesday May 26 and appear to be consolidating after recent sharp declines from the highs reached in May while the end of the month nears."[Futures prices on the LME] seem to be doing nothing more than seeking direction amid a flood of various opinions as to where prices should go," Malcom Fre...Read More

Quiet spot trade, apart from in China's nickel briquette market, left nickel premiums flat worldwide in the week to Tuesday May 25, sources told Fastmarkets.Poor arbitrage offsets optimism in China's nickel market over Glencore's briquette listing on SHFE.US premiums hold although higher briquette premiums become more common.European nickel stocks subside but premiums are unmoved.Full-plate premiu...Read More

Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price. While the United States Federal Reserve generally seems to be remaining dovish, the vice chair, Richard Clarida, spoke of a "soft landing"........Read More

- Challis Gold Project, located in Idaho continues towards a Plan of Operations (PoO) as the next phase of exploration- Mapping, geochemical and geophysical surveys planned in second half of 2021- Potential strategic joint-venture partners have expressed interest in ChallisELKO, Nev., May 26, 2021 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the "Company"), a gold exploration and development...Read More

An overview of the specialty steel raw materials markets in Europe and their latest price moves.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 20.00-20.50 on Wednesday May...Read More