Aluminium billet premiums diverged on Friday June 4, with those in Germany and Thailand rising to all-time highs while those in Brazil and the United States slipped.Germany premium touches $1,000 per tonne for first timeThailand premium jumps to all-time highUS premium dips from all-time high levelBrazil premium softens in quieter marketEuropeEuropean billet premiums hit fresh all-time highs on Ju...Read More
Appetites for steel scrap exports were broadly subdued in the week to Friday June 4, with the exception of imports into India and Pakistan.Turkey cooled its importing activity amid softer demand for finished steel, adjusting offers downwardPrices for cargoes from the East and West Coasts of the US divergedVietnamese importers stayed out of the market amid price-trend confusionChinese appetites wer...Read More
The pig iron import market in the United States was firm during the week to Friday June 4 because buyers needed to accomplish further restocking.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $665 per tonne on Friday, unchanged week on week.Sources had estimated the market level at $665 per tonne and one fresh booking of Russia-origin material was reported at this...Read More
Do we really need to go over why gold is struggling to reclaim $1900 and why silver is still stuck in the stinkin' twenties?(by Half Dollar) It's simple, really.I've said it over and over again, but nobody wants to listen, much less will anybody do his or her part.I guess I've got to say it again, however: The Cartel has unlimited money on its side, and as such, the Cartel can get time on its side...Read More
London Metal Exchange base metals prices recovered swiftly at the close of Friday June 4 after lighter-than-expected US employment data kicked down the dollar index, following a Thursday session where decreases averaged 2.5%. Copper's three-month price rebounded to $9,955 per tonne on Friday at the close, a 1.7% rise from Thursday's $9,788.50 per tonne 5pm price. At the same time on Thursday, the...Read More
Iron ore prices fell on Friday June 4 amid uncertainty about local government policies in China. As a result, most market participants held back from trading activity to wait for further developments.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $207.35 per tonne, down by $3.64 per tonne62% Fe low-alumina fines, cfr Qingdao: $209.20 per tonne, down by $3.61 per tonne58% Fe fines high-grad...Read More
Hot-rolled coil prices in China's domestic market extended their gains on Friday June 4, as the futures prices saw another choppy trading session.DomesticEastern China (Shanghai): 5,580-5,630 yuan ($872-879) per tonne, up by 30 yuan per tonne.Northern China (Tangshan) weekly assessment: 5,520-5,580 yuan per tonne, up by 170-200 yuan per tonne.Friday's small increase in spot prices came with gains...Read More
June4, 2021Toronto, Canada (June 4, 2021) - Mega Uranium Ltd. (MGA: TSX) is pleased to announce that it has participated in the recently closed equity financings of Toro Energy Limited (ASX: TOE; "Toro Energy") and International Consolidated Uranium Inc. (TSXV: CUR; "Consolidated Uranium"), two publicly-listed issuers engaged in uranium exploration and development activities.Mega's AUD$1.5M invest...Read More
Prices in Turkey for hot-dipped and pre-painted galvanized steel coil were forced downward during the week to Friday June 4 in order to remain competitive, sources have told Fastmarkets.Demand was strong to moderate in the export markets, but the prices offered by Vietnam to Europe were about $30-40 per tonne lower than offers from Turkish suppliers.As a result, Turkish coated coil producers decre...Read More
The export pig iron market from the Commonwealth of Independent States was calm during the week to Thursday June 3 amid an uncertain price trend.Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $625-635 per tonne on Thursday, widening downward from $630-635 per tonne on June 2.The latest sales from CIS to the United States were reported at $665 per...Read More
High aluminium premiums in Europe put an upper limit on any uptrend in the low-carbon aluminium differentials on Friday June 4.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe, at $10-15 per tonne Friday, flat compared with the previous assessment on May 7.Multiple market participants reported hearing long-term value-added product deals at $15 per tonne,...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
London Metal Exchange base metals prices recovered swiftly at the close of Friday June 4 after lighter-than-expected US employment data kicked down the dollar index, following a Thursday session where decreases averaged 2.5%. Copper's three-month price rebounded to $9,955 per tonne on Friday at the close, a 1.7% rise from Thursday's $9,788.50 per tonne 5pm price. At the same time on Thursday, the...Read More
Fastmarkets' copper concentrate treatment charge and refining charge (TC/RC) index gained further upward momentum on Friday June 4 amid limited spot buying interest from Chinese smelters who are undergoing maintenance work. The index is now at its highest level since late February when it was at $35.80 per tonne / 3.58 cents per lb. This week, a few spot parcels of standard concentrate w...Read More
Nornickel resumed operations at its Taimyrsky nickel and copper mine in Siberia on June 1, the world's second biggest nickel producer said on Friday June 4. Taimyrsky is now operating at about 40% of capacity, having been disabled by flooding since February 28, while a second affected mine, Oktyabrsky, resumed full production on May 13. "Water from the horizons of the Taimyrsky mine has been pumpe...Read More
Freeport-McMoRan, BHP Ventures, Mitsubishi and Orion Resource Partners have invested in a technology firm to extract copper from low-grade primary sulfide ores.The United States-based Jetti Resources has secured 50 million dollars in Series C funding from these four companies, it said on June 4. Jetti, formed in 2014, specializes in technology to enable the extraction of copper from tailing a...Read More
Tin operations at Malaysia Smelting Corp (MSC) will be shut until at least Wednesday June 9 amid a strict lockdown put in place in Malaysia following a surge in Covid-19 cases, according to two sources with direct knowledge of the matter.MSC has halted operations from June 3 until June 9 due to the lockdown measures imposed in the country until June 14. Multiple customers of the company confirmed...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationJetti has proven the effectiveness of its leaching processing technology commercially at Capstone Mining's Pinto Valley mine in Arizona, USA, helping the miner double copper cathode productionRead More
Prices for galvanized steel sheet in the United States strengthened to another all-time high, and cold-rolled coil held steady at a record, after buyers in dire need of restocking reported a persistent inability to procure spot material.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US was unchanged at $91 per hundredweight ($1,820 per short ton) on Thursday June 3. The...Read More
Hot-rolled coil prices in the United States surged above $82 per hundredweight for the first time on Friday June 4, with buyers predicting that vigorous demand will extend the rally, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $82.36 per cwt ($1,647.20 per ton) on June 4, up 1.39% from $81.23 per cwt the previous day and up 2.37% from $80....Read More