Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices, pushing this week's volumes to about 250,000 tonnes, sources told Fastmarkets on Friday June 12.A steel mill in the Iskenderun region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $262 per tonne cfr.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of...Read More

The price of containerized ferrous scrap imports into India inched up again this week, despite many market participants still unable to secure deals, sources told Fastmarkets on Friday June 12. Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $285.89 per tonne on Friday, up from $278.58 per tonne one week previous. Market sources reported offers for s...Read More

Fastmarkets' fob Australia seaborne hard coking coal index moved up on Friday June 12, after a steel mill in India booked an August-laycan spot cargo on Thursday.Fastmarkets indices Premium hard coking coal, fob DBCT: $107.36 per tonne, down $0.23 per tonne  Premium hard coking coal, cfr Jingtang: $116.52 per tonne, down $0.29 per tonne Hard coking coal, fob DBCT: $89.42 per tonn...Read More

Rising futures kept China's domestic hot-rolled coil prices supported on Friday June 12, while export transactions remained thin amid strong competition from other countries.DomesticEastern China (Shanghai): 3,650-3,660 yuan ($516-518) per tonne, unchangedNorthern China (Tangshan) - weekly assessment: 3,600-3,610 yuan per tonne, narrowed by 10 yuan per tonne Prices were stable in Shanghai, with bu...Read More

China's domestic rebar prices dropped slightly on Friday June 12 amid a bearish outlook for demand due to the country bracing itself for floods amid forecast heavy rain.Domestic Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, down by 10 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,690-3,720 yuan per tonne, down by 10 yuan per tonneThe Ministry of Water Resources i...Read More

The London Metal Exchange three-month lead price was higher during morning trading on Friday June 12, with a fresh cancellation of some 11,450 tonnes bolstering the metal's exchange price, while steady buying in copper futures continued over the morning.LME lead's outright price was recently at $1,764.50 per tonne - climbing from a morning low of $1,723 per tonne - while turnover was moderately lo...Read More

There has been some follow-through selling in Asian-Pacific equity markets and base metals on the Shanghai Futures Exchange this morning, Friday June 12, but base metals on the London Metal Exchange and pre-market major western equity index futures are consolidating after Thursday's routs. Pre-market Dow Jones equity index futures were indicated to open up by 1.4% this morning after the Dow Jones...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

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 $14.00-15.00 per...Read More

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

Key data from the Friday June 12 pricing session in Shanghai.Key drivers Spot metal prices dropped amid persistent lackluster demand, while local futures prices edged lower on Friday, making buyers even more reluctant to accept higher offers. The cobalt tetroxide...Read More

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

China's output and sales of new energy vehicles (NEVs) continued to increase month on month in May but figures are still down on an annual comparison, reflecting the sharply reduced subsidies. China produced 84,000 NEVs in May, including pure electric vehicles (PEVs) and plug-in hybrids. This was up by 5% from April, but down by 25.8% from May 2019, according to data released by the China Associat...Read More

The price of stainless steel in Europe has remained unchanged despite the attempts by mills to incorporate higher monthly alloy surcharges into transaction prices, sources told Fastmarkets on Friday June 12.Demand is too weak to support any price rises, they added. Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Eu...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday June 12China The five-week uptrend in UG2 chrome ore prices stalls on softer buying interest, with market participants on both sides reporting a slowdown in inquiriesThe domestic spot ferro-chrome price narrowed downward on...Read More

Exploration drilling has confirmed the continuity of high-grade mineralisation at the Red Chris copper-gold mine in northwest British Columbia, 80 km south of Dease Lake and 1,700 km from Vancouver.The mine is a joint venture between Imperial Metals (TSX: III) and Australian miner Newcrest Mining (ASX: NCM). Newcrest holds a 70% stake and Imperial a 30% interest. Newcrest is the mine operator.The...Read More

Copper prices surged to their highest levels in nearly three months on June 11, reaching US$5,801.5 per tonne (US$2.63 per lb.) on the London Metals Exchange (LME), up almost 20% from a low of US$4,854 per tonne (US$2.20 per lb.) on March 5, when commodity markets started to free-fall due to the Covid-19 pandemic.A ramping-up of demand from China, the top consumer of the red metal, is now fuelling...Read More

For companies without the size and heft of the big producers De Beers and Alrosa, the diamond space has always been a challenging one - even before the coronavirus pandemic. But with long-term fundamentals that point to a bright future for diamonds, some juniors are finding ways to advance their projects, despite the tough times. Here's a look at several active Canadian-based diamond explorers (an...Read More

China's Zijin Mining has emerged as the unnamed multinational that trumped Silvercorp Metals' (TSX: SVM; NYSE: SVM) bid for Guyana Goldfields (TSX: GUY), with a deal that values the target miner at $323 million (US$238 million).The Fujian-based mining giant has offered Guyana Goldfields $1.85 in cash for each common share, which is 35% higher than Silvercorp Metals' proposal.Prior to signing the a...Read More

Australia's state of Queensland has granted Glencore's (LSE: GLEN) A$1.5-billion (US$1 billion) Valeria coal mine the status of "coordinated project" in order to fast-track it, as the nation seeks alternatives to kickstart the recession-ridden economy.The decision will bring environmental and other assessments for the mine, expected to produce 20 million tonnes of coal annually for 35 years, under...Read More