Demand for CIS-origin billet mainly came from the Gulf Co-operation Council (GCC) region this week, sources told Fastmarkets Friday May 1.By the end of the week, Fastmarkets had heard of three deals to the region, with the latest being a 50,000-tonne billet cargo sold to a customer in Saudi Arabia at around $360 per tonne cfr (or $335 per tonne fob Black Sea, excluding freight costs...Read More

Russia's largest steelmaker, Novolipetsk Steel (NLMK) forecasts that the share of its sales that goes to exports will increase to 72% in May, compared with 54% in March and 52% in February, according to a financial report released by the company on Thursday April 30.In April, the share of export sales from NLMK's Russia Flat Steel Division and Long Steel Division reached 61%. These divisions inclu...Read More

Evraz's steel product output at its CIS-based assets surged by 9.3% year on year to 3.12 million tonnes in January-March 2020.The assets - West Siberian Iron & Steel Works (ZSMK) Nizhniy Tagil Iron & Steel Works (NTMK) and Evraz Caspian Steel - specialize in production of semi-finished steel products as well as railway and construction products.Of the total, NTMK produced 1,03 million tonnes...Read More

With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in April 2020.The case list below includes only updates. For other continuing cases...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesIt is a much needed boost for Kopore, which had just $89,000 cash at the end of March, and will allow it to concentrate on its holdings in Botswana.Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesSeven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootCEO Kevin Keough told a virtual Metal Investor Forum this week he was extremely bullish about the compan...Read More

Indian authorities have withdrawn the operating license from at least one shipping line after allegations that charges were being wrongfully applied to cargoes stranded at ports across the country, Fastmarkets has learnt.On April 21, India's ministry of shipping (MoS) ordered the cancellation of fees including penalty charges, demurrages and detention charges at all major ports and container freig...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesOsisko CEO Sean Roosen said the change increased Osisko's operating margin on the stream to 100% from 80%, while improving Taseko's cash position."Gibraltar is a long-life asset with a proven operator and, as such, this investment continues to provide Osisko's shareholders with silver price optionality over multiple cycles," he sai...Read More

The price of containerized ferrous scrap imports into India slumped further this week due to the continued lack of trading under the lockdown conditions in the country, as well as a drop in the global scrap markets, sources told Fastmarkets on Friday May 1.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $259.38 per tonne on Friday, down from $269.13 per...Read More

The pig iron market in the United States strengthened in the week to Friday May 1, with several buyers restocking material, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $295-300 per tonne on Friday, up by $5 from $290-295 per tonne last week.One purchase of Ukraine-origin pig iron was done...Read More

The Turkish deep-sea scrap import market ended the week with a lower-priced deal coming to light on Friday May 1, in line with market expectations for the direction of prices, sources told Fastmarkets.News of the cargo came to light late on Thursday, with a steel mill in the Iskenderun region buying a European cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $236 per tonne cfr, and 7...Read More

The inter-merchant spot price for light iron scrap in the UK has edged up over the past week, climbing by ?5 ($6) per tonne amid increased competition among some major shredders for feed, while a slowdown in export markets has limited stronger advances, sources said on Friday May 1.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, wa...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 60 points in pre-opening trade. Amazon dropped $125.00 to $2,349.00 after lowering second quarter guidance. Apple plunged $8.80 to $285.00 after declining to offer fiscal third quarter guidance. Visa lost $2.03 to $176.69 after lowering second quarter guidance.Amgen gained $3.78 to $243.00 after reporting higher than...Read More

The market for pig iron exports from the Commonwealth of Independent States improved during the week to Thursday April 30 on new sales to traditional outlets. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $280-289 per tonne on April 30, up by $5-9 from $275-280 per tonne last week.A sale of Ukraine-origin pig iron was done to the United...Read More

Weak steel demand globally continued to put pressure on the direct-reduced (DR) iron pellet market, with suppliers and buyers still unable to agree a premium for the second quarter. Fastmarkets' assessment of the iron ore DR-grade pellet premium, Middle East reference, was $30 per tonne on Thursday April 30, unchanged month on month."We have not reached any agreement with suppliers, so t...Read More

PRIVATE BLOG - Gold & April ClosePrivate 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

Outright cobalt hydroxide prices came under pressure in April with limited demand from end-users in Asia outweighing the impact of delays and supply uncertainty stemming from South Africa's lockdown. Fastmarkets' cobalt hydroxide index, min 30% Co, cif China, was calculated at $9.98 per lb on Thursday April 30, down by 9.27% from $11 per lb at the end of March. The monthly index is a tonnage-weigh...Read More

Sherritt International has seen only modest impacts to its production as a result of Covid-19, but withdrew its production guidance for 2020 due to a number of market and economic uncertainties caused by the pandemic.Prior guidance for 2020 nickel production was 32,000-34,000 tonnes, while cobalt guidance was for 3,300-3,600 tonnes this year. The company has a 50% stake in the Moa joint venture, w...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday May 1.China The rise in UG2 chrome ore prices slowed down after China's major stainless steel mills all raised their ferro-chrome tender prices by a lower-than-expected amount. The imported charge chrome price ticked upward by $0.01 per tonne on improving sentiment and with availability of material f...Read More

Perseus Mining (TSX: PRU; ASX: PRU ) is building its second open-pit mine in Cote d'Ivoire and its third in West Africa, and expects to pour first gold in December despite the COVID-19 pandemic.Once built, Yaoure will produce 215,000 oz. gold per year at all-in sustaining costs (AISCs) of US$734 per oz. over the first five years of an initial 8.5 year mine life.On a recent conference call, manag...Read More