Prices for steel billet imported into Egypt decreased during the week ending Thursday June 3 because of global price falls, although demand for rebar was better, sources have told Fastmarkets.Global prices for billet have been decreasing recently, because of limited buying by customers in China.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $653 per tonne on June 2, falling...Read More

Turkish steel billet prices have gone down this week on falling costs for imported scrap raw material, market participants said on Thursday June 3.The Turkish scrap import prices have been falling over the week amid limited demand from the mills in the country.Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, at $495.27 per tonne on Wedne...Read More

This McAlinden Research Partners report looks at factors supporting high copper prices and notes that the "fundamentals underlying copper futures pricing remain very much intact." Copper discoveries, particularly in South America, have slowed in recent years and a new wave of political upheaval across the continent may create even more barriers to expansion. This news comes just as projections fr...Read More

A National Bank of Canada Financial Services report explains why it considers MAG Silver Corp.'s capex of the Juanicipio project fully funded. JuanicipioIn a May 17 research note, National Bank of Canada analyst Don DeMarco reported the "most relevant" points from MAG Silver Corp.'s (MAG:TSX; MAG:NYSE A) Q1/21 filings and recent Juanicipio project update. The key topics were capex, cash and catal...Read More

China's domestic rebar prices continued to increase on Thursday June 3 on futures gains, but heavy rains slowed the increase compared with Wednesday's uptick, sources told Fastmarkets. DomesticEastern China (Shanghai): 5,030-5,050 yuan ($787-790) per tonne, up by 30 yuan per tonne The transportation of rebar by truck and construction activity were interrupted by heavy rains in certain parts of eas...Read More

A Cormark Securities report discusses the milestone that could drive MAG Silver Corp.'s multiple higher. In a May 19 research note, Cormark Securities analyst Richard Gray wrote that MAG Silver Corp. (MAG:TSX; MAG:NYSE A) and joint venture (JV) partner Fresnillo remain on track with construction to meet their Q4/21 Juanicipio mill-commissioning target. Gray noted that mechanical installation of t...Read More

Japanese semiconductor chip producer Renesas Electronics Corp aims to return its production rate to 100% of its capacity three months after a fire broke out of its Naka factory in Japan's Ibaraki prefecture March 19.It is currently operating at 88% of capacity after restarting operations on April 17 following the procurement of all the equipment necessary to restore its pre-fire capacity.The fire...Read More

The rebounds in Gold and Silver exceeded my expectations and closed May in a strong fashion, near the highs of the month.Gold’s monthly close was the third-highest ever. Silver failed to break resistance at $28.50, but its monthly close at $28 was the second-highest in the last eight years.As noted last week, Gold and gold stocks have perked up in real terms.  Gold relative to Bonds has...Read More

China's customs authorities will no longer require imports of some hot-rolled and cold-rolled coil to undergo inspections from June 10, the General Administration of Customs said on Tuesday June 1.The products affected, under the 10-digit Harmonized System (HS) code, include:7208261000 Other high-strength HRC of a thickness of 3mm or more but less than 4.75mm 7208269000 Other HRC of a thickness...Read More

Five grades of steel scrap will no longer need to undergo customs inspections at ports in China when they are imported into the country, beginning on June 10.But five other grades of the steelmaking raw material will undergo such inspections from the same date.China's General Administration of Customs said on Thursday June 3 that it would no longer carry out imported commodity inspections on a lis...Read More

Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.Market participants did not expect any price decreases, though. Steel prices in China did decrease from April until May 27, but they then started to rise again.Hot-rolled coil export pric...Read More

Here are five Fastmarkets stories you might have missed on Thursday June 3 that are worth another look.Russia's largest steelmaker, Novolipetsk Steel (NLMK), will start producing hot-briquetted iron (HBI) and increase its iron ore and pellet output by 2027-2028, the company told Fastmarkets.BHP, the majority owner and operator of...Read More

Positive employment data from the United States boosted the Dollar Index to its highest level since mid-May and triggered a selloff on the London Metal Exchange on Thursday June 3, with most metals' prices going down by 2-3%.Copper's three-month contract on the LME was most affected on Thursday, with its closing price falling by 3.5% to $9,788.50 per tonne at the 5pm close, from $10,147 per tonne...Read More

Prices for steel billet imported into Egypt decreased during the week ending Thursday June 3 because of global price falls, although demand for rebar was better, sources have told Fastmarkets.Global prices for billet have been decreasing recently, because of limited buying by customers in China.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $653 per tonne on June 2, falling...Read More

Domestic European prices for hot-rolled coil were fairly stable day-on-day on Thursday June 3, supported by a persistent material shortage and strong demand, sources told Fastmarkets.The majority of Northern European producers were reported to be sold out of third-quarter-rolling coil, and suppliers in the region were ready to pay higher prices for material with earlier shipment.Italian producers,...Read More

Here are five Fastmarkets stories you might have missed on Thursday June 3 that are worth another look.Russia's largest steelmaker, Novolipetsk Steel (NLMK), will start producing hot-briquetted iron (HBI) and increase its iron ore and pellet output by 2027-2028, the company told Fastmarkets.BHP, the majority owner and operator of...Read More

Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More

Positive employment data from the United States boosted the Dollar Index to its highest level since mid-May and triggered a selloff on the London Metal Exchange on Thursday June 3, with most metals' prices going down by 2-3%.Copper's three-month contract on the LME was most affected on Thursday, with its closing price falling by 3.5% to $9,788.50 per tonne at the 5pm close, from $10,147 per tonne...Read More

Iron ore prices pushed up on Thursday June 3, supported by rising steel and coke values, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $210.99 per tonne, up $1.80 per tonne62% Fe low-alumina fines, cfr Qingdao: $212.81 per tonne, up $1.31 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184.58 per tonne, up $2.28 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $241....Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on Thursday June 3 morning, although nickel bucked the trend on both exchanges.Brent crude oil continues to rally, reaching $71.71 on Thursday morning.China's Caixin services purchasing manager's index eases to 55.1 in May, from 56.3 in April.Base metalsLME three-month base metals prices were genera...Read More