Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 8, after the United States Federal Reserve’s latest minutes showed a slight pick-up in hawkishness.China is looking to cut the bank reserve requirement ratio (RRR), suggesting the authorities think the economy needs support.Base metalsLondon Metal Exchange three-month base metals prices were mixed on Thursday J...Read More

Demand for steel scrap imports into Bangladesh was being limited by the country's extended Covid-19-related lockdown, market participants told Fastmarkets on Thursday July 8.The strict lockdown, which has been extended until at least July 14, has led to a complete shutdown of the country's steel retail market and has led to an exodus of laborers from the capital city, Dhaka."They are not admitting...Read More

The price gap between higher and lower grades of steel scrap continued to widen in the Japan export market over the past week, sources told Fastmarkets on Thursday July 8.Rising demand for heavy scrap (HS) and Shindachi busheling, both from blast-furnace (BF) mills in Japan and buyers in South Korea, has continued to propel prices for these materials upward.On the other hand, limited demand for lo...Read More

Seaborne iron ore prices dropped across the board on Thursday July 8, due to a weakening demand outlook caused by the growing potential for steel production cuts in the second half of the year, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $218.04 per tonne, down $4.35 per tonne62% Fe low-alumina fines, cfr Qingdao: $222.00 per tonne, down $3.70 per tonne58% Fe fines high-gr...Read More

The upward momentum in China's steel scrap prices will be capped by the growing expectation that steel mills will be forced to cut production in the second half of 2021, sources told Fastmarkets on Thursday July 8.There has been increasing speculation among market participants over the past week that China is planning to control its annual steel output to keep it at the same level as 2020.Fueled b...Read More

Coking coal prices were largely stable on Thursday July 8, with sellers and buyers in China's cfr market assessing the potential impact of the government's desire to limit steel production.Fastmarkets indicesPremium hard coking coal, fob DBCT: $202.33 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $308 per tonne, down $0.35 per tonneHard coking coal, fob DBCT: $173.58 per ton...Read More

Fastmarkets proposes to launch two indices for cfr China ferrous scrap prices.It intends to change its cfr eastern China ferrous scrap price from an assessment to an index and to launch an additional cfr northern China ferrous scrap price index.Since February 2021, Fastmarkets has published a daily price assessment for steel scrap, heavy recycled steel materials, cfr China.Under this proposal, Fas...Read More

The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More

Domestic hot-rolled coil prices in China rose for the fourth day in a row on Thursday July 8, with futures prices steady after the recent rally, which was sparked by growing expectations that steelmakers will be forced to limit production in the second half of the year.DomesticEastern China (Shanghai): 5,700-5,770 yuan ($880-890) per tonne, up by 50 yuan from 5,650-5,720 yuan per tonne. The most-t...Read More

China's domestic rebar prices continued to rise on Thursday July 8 due to market participant concerns over lower supplies after the government called on mills to keep production below 2020 levels.DomesticEastern China (Shanghai): 5,020-5,050 yuan ($775-780) per tonne, up by 60 yuan per tonneMore steel mills were said to be reducing production over the next six months to ensure annual production is...Read More

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade,...Read More

The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 24.00-24.95 on Thursday July 08, 2021.Read More

As the world transitions to clean energy, rising demand for "green" metals is contributing to renewed optimism in the growth prospects for Canada's mining industry, according to a KPMG in Canada report released on July 8, Risk and Opportunities for Canadian miners.Minerals like lithium, cobalt and nickel are critical to the green and digital transition now underway to achieve a below 2 ?C future....Read More

Energy Fuels (TSX: EFR; NYSE; UUUU) has shipped the first container of 20 tonnes of mixed rare earth carbonate concentrate to Neo Performance Materials' (TSX: NEO) Silmet rare earth separation facility in Sillamae, Estonia.Produced at Energy Fuels' White Mesa mill in Utah, 508 km southeast of Salt Lake City, the concentrate will be separated into rare earth oxides and other valued-added rare e...Read More

The government of Australia has been ordered to consider the risks carbon dioxide emissions pose to young people when approving new coal mines or expansions to existing ones, the federal court said today.The case, brought by eight students and an octogenarian nun, centred on Whitehaven Coal's planned expansion of an operation in New South Wales. The project aims at producing as much as 10 milli...Read More

Vancouver-based Ero Copper (TSX: ERO, NYSE: ERO) has provided an exploration update on its ongoing drill programs for the MCSA mining complex and the NX Gold mine, both in Brazil, with a highlight hole of 67 metres of 9.21% copper at MCSA.The company's primary asset is a 99.6% interest in the Brazilian copper mining company, MCSA, which owns the MCSA Mining Complex in Bahia state. Copper ore is mi...Read More

Australia's Sandfire Resources (ASX: SFR) has been granted a mining licence for its Motheo copper project in Botswana's Kalahari Copper Belt.The Perth-based miner said the milestone was one of the two major conditions required for finalizing the final permitting process for the A$279 million (US$208 million) project.The Kalahari Copper Belt, which extends for nearly 1,000 km from northeast Botswan...Read More

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