The market for pig iron exports from the Commonwealth of Independent States (CIS) was quiet during the week ended Thursday July 30 with demand being heard only in China.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $320-326 per tonne on July 30, up from $319-324 per tonne a week before."This week was deathly silent in all markets due to...Read More

The price of ferrous scrap imported into India in containers jumped by $15 per tonne during the week to Friday July 31 following a flurry of new bookings, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $301.15 per tonne on Friday, up by $15.19 per tonne from $285.96 per tonne a week earlier.Several deals were heard done this week...Read More

PRIVATE BLOG - Gold & Euro Close for July 2020Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More

The Turkish steel scrap import market was quiet on Friday July 31 because of the Eid al-Adha religious holiday across the region, with no bookings heard and prices flat as a result.Earlier in the week and late last week, however, a number of cargoes were booked.Late on July 24, a steel mill in northern Turkey booked a United States-origin cargo comprising 15,000 tonnes of shredded at $275 per tonn...Read More

The stainless steel scrap market was stable this week amid typically quiet summer activity, sources told Fastmarkets on Friday July 31. Many market participants are absent for holidays while stainless steel mills are undergoing their usual summer shutdowns, meaning demand for scrap is low. One trader in Europe was anticipating a push in September from mills for lower...Read More

The inter-merchant spot market for light iron scrap in the UK was unchanged in the week to Friday July 31, with prices remaining firm and expectations of increases to come, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?85-95 ($111-124) per tonne on Friday.Material availability kept the p...Read More

China's hot-rolled coil prices remained firm on Friday July 31 amid continuous supply shortages in the east of the country, sources told Fastmarkets.DomesticEastern China (Shanghai): 3,970-4,000 yuan ($567-571) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,740-3,770 yuan per tonne, down 50-60 yuan per tonneSellers were offering material at around 3,970 yuan per...Read More

There was strong demand in London Metal Exchange zinc during the Asia trading hours on Friday July 31, causing the three-month price to rise by 1.3%, while an easing of LME tin's forward curve prompted similar buying momentum over the morning. Zinc's outright price on the LME was recently at $2,320 per tonne, breaking through nearby resistance and improving from Thursday's closing price of $2,286....Read More

Some hesitation in the base metals prices on Thursday was short-lived, with all the prices up this morning on Friday July 31 by an average of 0.5%, with stronger economic data out in Asia, earlier in the day, which boosted sentiment. China's manufacturing purchasing managers index (PMI) for July climbed to 51.1 from 50.9 in June. Japan's preliminary industrial production climbed 2.7% in June, afte...Read More

The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $13.75-14.20/lb on Friday July 31, 2020. Bid at $13.80...Read More

The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More

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

A summary of Glencore's production results for the half year ended June 30, as stated in the company's latest half year report released on Friday July 31. In brief  Glencore attributable ferro-chrome production fell by 42% year on year in the first half of the year due to production disruptions in South Africa following the national Covid-19 lockdown during March and April. Smelting operation...Read More

European monthly grade-304 alloy steel surcharges for August have increased slightly from July's values because of higher nickel costs, Fastmarkets heard on Friday July 31.Fastmarkets' stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe was calculated at ?,?1,345-1,367 ($1,586-1,612) per tonne on Friday, up by ?,?16-24 per tonne from the July range.The average nick...Read More

A slight increase in European monthly grade-304 alloy steel surcharges for August is unlikely to result in higher transaction prices for finished stainless steel products because of a weak underlying market, Fastmarkets heard on Friday July 31.Grade-304 surcharges have increased on higher nickel costs but by relatively modest amounts, with Fastmarkets' stainless steel cold-rolled sheet 2mm grade 3...Read More

Aluminium scrap prices in the United States were mostly steady this past week, but overseas demand for some grades lent support to rising prices, sources told Fastmarkets. "Right now there's [a cat and mouse game] where domestic primary and secondary mills are trying to keep a happy balance between keeping some level of scrap flowing and not [becoming long on product] as finished product sales and...Read More

Joint-venture partners Agnico Eagle Mines (TSX, NYSE: AEM) and Yamana Gold (TSX: YRI; NYSE: AUY) will begin construction of an underground ramp at their Canadian Malartic open pit mine, 25 km west of Val-d'Or, Que., in August.The Odyssey ramp is expected to take two years to build, and will eventually allow the joint venture to collect a bulk sample of up to 40,000 tonnes, to conduct more tightly...Read More

Centerra Gold (TSX: CG) announced that the company recorded net income of US$80.7 million, or 27 ? per share, for the second quarter of 2020, more than double the US$33.4 million, or 11 ? per share, earned in the prior year.Adjusted net earnings came to US$97.8 million, or 33 ? per share, compared with US$33.4 million, or 11 ? per share, in Q2 2019.Revenues rose to US$412.7 million from US$340.5 m...Read More

Chile's environmental watchdog said it would charge BHP's (NYSE, LSE: BHP) Escondida copper mine, the world's largest, with drawing more water than its permits allowed for nearly 15 years.The Superintendency of the Environment (SMA) said the operation has caused a decrease in the water table levels greater than 25 cm, which is the allowed limit in the Atacama desert, the world's driest, where Esco...Read More