Prices for 400 series stainless scrap in the United States were mostly steady week on week, but the 300-series prices have continued to creep upward while demand remains sluggish and supply continues to be tight.Consumer prices for both 400-series and 300-series stainless scrap were sideways in June. Market participants indicated that demand continues to be off from normal levels, and sources repo...Read More

On average, base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up by 0.2% and 0.4% respectively at 7.07am London time on Wednesday June 10. Asian-Pacific equities were mixed but pre-market major western equity index futures were up this morning, showing some mixed currents ahead of the US Federal Open Market Committee (FOMC) economic projections and statement that a...Read More

The ferrous scrap market in the United States may have peaked in June, according to sources, with many market participants convinced that there could be downside for the July trade unless finished steel orders or finished steel prices increase.The June trade was mild compared with May. The price for No1 busheling in Chicago moved up by a modest $10 per gross ton to $320 per ton in June after jumpi...Read More

The Turkish steel producers continued their deep-sea scrap purchases at stable prices amid strengthening demand in the local long steel market, sources said on Wednesday June 10.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 21,000 tonnes of HMS 1&2 (80:20) at $265 per tonne, 8,000 tonnes of bonus at $275 per tonne and 1,000 tonnes of rail at $280 per tonne cfr. The la...Read More

GFG Alliance announced transformation plans for its Whyalla steelworks facility while it tries to secure its long-term future after reviewing its current performance, the company said on Wednesday June 10.The plans include a direct reduced iron (DRI) facility to produce low-emission Greensteel from GFG's abundant South Australian magnetite resources and domestic steel scrap as well as a new electr...Read More

Seaborne premium hard coking coal prices edged down on Wednesday June 10 with transactions sealed at lower levels. Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.96 per tonne, down $0.36 per tonne Premium hard coking coal, cfr Jingtang: $115.02 per tonne, down $1.31 per tonneHard coking coal, fob DBCT: $88.24 per tonne, up $0.99 per tonneHard coking coal, cfr Jingtang: $98.51 per tonn...Read More

Seaborne iron ore prices fell slightly on Wednesday June 10 on scant trading activity, while low-grade Yandi fines from Australia performed well due to uncertainty over supplies of low-alumina brands from Brazil. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $103.93 per tonne, down $0.67 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $106.78 per tonne, down $0.52 per tonne.&...Read More

Japanese steel scrap prices have jumped again over the past week amid tightening supply but buyers are unwilling to accept the fresh price increases, market sources told Fastmarkets on Wednesday June 10.Tight supply of H2 heavy scrap has resulted in further increases in scrap buying prices at Japanese mills over the past week, together with a sharp rise in sales prices at the Kanto Tetsugen auctio...Read More

An expected shortfall in Brazilian supply of high-grade iron ore will likely result in 2020 becoming a boom year for Australian miners.While Brazilian miner Vale, a key producer of high-grade iron ore fines and pellets, is maintaining its production guidance despite a suspension of operations at its Itabira mining complex, many market participants in Asia are expecting a shortage of Brazil-origin...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Investors are waiting for news on interest rated from the Federal Reserve at 2:00 PM EDT. Consensus is that the Fed Fund Rate will remain unchanged at 0.25%. Federal Reserve Chairman Powell will give an update at 2:30 PM EDT.Index futures were virtually unchanged following release of the...Read More

The waiting time for aluminium at Istim's warehouse in Port Klang in Malaysia rose to 42 days at the end of May, according to the latest London Metal Exchange queue report, up from 26 days at the end of April. But a fresh queue has built up in Johor in Malaysia too, the new data shows. As of the end of May, there was a 22-day queue at Istim warehouses in Johor for copper, lead, zinc and...Read More

The London Metal Exchange three-month copper price increased during morning trading on Wednesday June 10, pushing past the $5,800-per-tonne resistance level for the first time since February after a large fresh cancellation 14,550 tonnes removed from LME-registered warehouses in Busan. Copper's outright price on the LME was recently at $5,821 per tonne, up by just under 1% from Tuesday's closing p...Read More

On average, base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up by 0.2% and 0.4% respectively at 7.07am London time on Wednesday June 10. Asian-Pacific equities were mixed but pre-market major western equity index futures were up this morning, showing some mixed currents ahead of the US Federal Open Market Committee (FOMC) economic projections and statement that a...Read More

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

The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade 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...Read More

Maple Gold Mines (TSXV: MGM; US-OTC: MGMLF) has released the results of hole 20-281 completed within the conceptual pit shell at the Porphyry zone at the company's 355-sq.-km Douay project in Quebec.The drill hole returned 164 metres of 0.86 gram gold per tonne starting at 107 metres and includes a number of higher-grade gold zones, including 75 metres of 1.23 grams gold per tonne as well as 5 met...Read More

While gold miners have been stealing the pandemic limelight as that precious metal's price has soared, copper miners have struggled with the collapse of their main markets, like China, and the closure of major production mines in places like Chile and Peru. By March 22, the base metal was trading at US$2.07 per lb., a full 80 ? off its peak in mid-January, and the lowest valuation since February 2...Read More

The first phase of drilling at Eclipse Gold Mining's (TSXV: EGLD; US-OTC: EGLPF) Hercules gold project within the Walker Lane trend, 40 km southeast of Reno in Nevada, has returned long intercepts of shallow gold in oxides.The drill highlights include 75 metres of 0.54 gram gold per tonne and 4.78 grams silver per tonne (0.6 gram per tonne gold-equivalent) starting at surface from the Cliffs targe...Read More

In spite of a legal dispute between partners Star Diamond (TSX: DIAM) and Rio Tinto (NYSE: RIO; LSE: RIO) at the Star-Orion South diamond project in north-central Saskatchewan, the project should begin to see results this year from the first significant work conducted there in years.In April, Rio Tinto began processing a bulk sample totalling 8,271 wet tonnes that was extracted from the Star kimbe...Read More