Premiums for copper cathode in Shanghai continued their slide this week, and are now at one-and-a-half-month lows. Demand globally remains sluggish while seasonally weak summer buying is being compounded by concerns over extended recessions due to the Covid-19 pandemic.Shanghai copper premiums drop after stocks rise.Rotterdam premium stable amid low spot appetite, summer closures.US premium flat,...Read More

The three-month prices of base metals traded on the London Metal Exchange were up during the morning session on Wednesday August 5, buoyed by expansionary global manufacturing data, which has given renewed hopes of stronger metals demand. China's Caixin services purchasing managers' index (PMI) remains over 50, indicating expansion, despite dropping to 54.1 in July from 58 previously while the JP...Read More

RAPAPORT... Hong Kong's retail market took a turn for the worse this month amid the coronavirus's resurgence, reversing a slight improvement in June, the government cautioned Thursday.The municipality has entered a third wave of infections, prompting authorities to shut parts of the economy this week in an effort to contain the outbreak. "With inbound tourism remaining at a standstill and loc...Read More

Latin American steel group Ternium has reported earnings before interest, taxes, depreciation and amortization (Ebitda) of only $223.90 million in the second quarter of 2020, on lower shipments to Mexico and Argentina, partially offset by a reduction in costs.This compared with Ebitda of $302.10 million in the first quarter and $404.60 million in the second quarter of 2019.In brief: Steel shipment...Read More

Brazilian steelmaker Gerdau already plans to increase its domestic price for steel rebar by 6-8% in August, chief executive officer Gustavo Werneck told journalists in a press conference on Wednesday August 5.A previous increase of around 10% was already almost fully applied across June and July, according to the CEO. Stronger-than-expected demand from the construction sector and a discount over i...Read More

Domestic prices for hot-rolled coil have increased over the week to Wednesday August 5 in Northern and Southern Europe despite the seasonal market slowdown, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?414.17 ($487.64) per tonne on Wednesday August 5, up by ?,?1.67 per tonne day on day from ?,?412.50 per tonne on Tuesda...Read More

Hollow steel sections prices in Southern Europe moved up on Wednesday August 5 before the expected market slowdown for the summer, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-560 ($636-659) per tonne on Wednesday, unchanged week on week.Italian mills have been increasing their offer prices, even though mos...Read More

Iranian steel billet producers managed to achieve higher prices in the most recent round of sales, supported by the bullish mood in the global market and strong domestic demand.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $392-395 per tonne on Wednesday August 5, against $388-392 per tonne a week earlier.Market participants reported sales from mills to traders...Read More

Three-month base metals prices on the London Metal Exchange were firmer this morning, Wednesday August 5, with gains averaging 0.3%.Pre-market major western equity index futures were also in positive territory, while metals and equities in Asian-Pacific markets were mixed.* Western markets seem buoyed by hopes for a stimulus package announcement by the United States this week.* China’s Caixin...Read More

88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyLithium no quiet place for AVZSPONSOREDavz mineralsScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.IronRidge shows its mettleSPONSOREDironridge resources With a board straight out of the miners Hall of Fame, Jetti Resources is beginning to achieve commercial production with the most in...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesIt outlines annual production of 35,800 tonnes per year of copper cathode over a 12-year mine life with 40,000tpy of production during the first six years at a life of mine average C1 cash cost ofRead More

The fossil-free steel initiative joint venture known as Hybrit - comprising SSAB, LKAB and Vattenfall - has completed successful trials of fossil-free fuels in the iron ore pellet process, it announced on Wednesday August 5.The companies reported that trials using fossil-free fuels at LKAB's pellet plant in Malmberget, Sweden, have shown that the first fossil-free iron ore pellets are within reach...Read More

The Turkish steel mills have continued their purchases of deep-sea ferrous scrap at steady prices, while suppliers in Europe were still struggling with the strength of the euro, sources said on Wednesday August 5.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of bonus and HMS 1 at an...Read More

Seaborne prices across the board remained relatively flat on Wednesday August 5, with few transactions while most market participants were in wait-and-see mode, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.01 per tonne, down $0.39 per tonne Premium hard coking coal, cfr Jingtang: $116.30 per tonne, down $0.08 per tonneHard coking coal, fob DBCT: $88.77 per tonne, down $...Read More

Copper Miners ETF (COPX) moved above $20.71 extending an intermediate uptrend.Dow Jones Transportation Average iShares (IYT) moved above $179.39 extending an intermediate uptrend.Barrick Gold (ABX), a TSX 60 stock moved above Cdn$40.04 to an all-time high extending an intermediate uptrend.Disney (DIS), a Dow Jones Industrial stock moved above $127.82 following release of fiscal third quarter resul...Read More

Activity in the seaborne iron ore market fell flat on Wednesday August 5, with sources saying that trading eased off because of a lack of clear market information, which left prices stable.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $118.10 per tonne, up by $0.22 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.34 per tonne, up by $0.04 per tonne58% Fe fines high-grade premium, cfr...Read More

Bangladeshi steelmaker SS Steel has purchased competitor producer Saleh Steel in a deal worth 247 million taka ($2.86 million), according to a filing to the Dhaka Stock Exchange. The deal, which was first made public on Tuesday August 4, sees SS Steel take 99% of the shares in Saleh Steel Industries Ltd. SS Steel has pledged to invest a further 1.34 billion taka toward the "smooth running" of the...Read More

China's hot-rolled coil prices were largely stable on Wednesday August 5 in spite of reports of buyers in Vietnam paying higher prices for imports.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($582-583) per tonne, unchangedSeveral traders told Fastmarkets that domestic prices were stable on Wednesday amid moderate trading activity.The stability was attributed to buyers' expectations of weake...Read More

China's domestic rebar prices dropped slightly on Wednesday August 5 due to adverse weather weakening demand. Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($520-524) per tonne, down by 10 yuan per tonneParts of eastern China experienced wet weather due to Typhoon Hagupit, which affected demand for rebar from the construction sector.The most-traded October rebar futures contract also traded...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 $14.35-14.80 per lb on Wednesday August 5, 2020....Read More