China's domestic hot-rolled coil prices fell on Monday June 29 amid thin trading resulting from floods in various parts of the country.DomesticEastern China (Shanghai): 3,710-3,730 yuan ($524-527) per tonne, down 10-20 yuan per tonneA Shanghai-based trader said that floods and heavy rain across the country had let to a weakening of HRC demand.Local media reported last Saturday that floods across 2...Read More
(Updates prices) By Peter Hobson LONDON, June 29 (Reuters) - Supply disruption in topproducer Chile, solid demand in top consumer China and dwindlingstockpiles kept copper prices near five-month highs on Monday. Benchmark copper on the London Metal Exchange (LME)was up 0.1% at $5,963 a tonne at 1615 GMT, close to Friday'speak of $6,006.The metal used in power and construction has risen by about35%...Read More
Asian-Pacific equities and pre-market European equity index futures were weaker this morning, Monday June 29, but base metals prices were for the most part firmer. * Nikkei led on the downside this morning with losses of 2.21%.* Covid-19 surges in some southern US states, with 2.5 million confirmed cases reported in the country.* Profits in China’s industrial sector showed growth of 6% year o...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.Boeing added $12.30 to $182.31 after the FAA indicated that test flights on the 737 Max aircraft are set to start today.Gap Stores gained $0.63 to $12.70 after Deutsche Bank raised its target price from $13 to $15.Square added $1.45 to $105.75 after KeyBanc Capital increased its target pr...Read More
Turkish domestic scrap prices have gone down over the past week in line with the latest downturn in imported deep-sea scrap values, sources said on Monday June 29.Several steel producers decreased their domestic buy prices for both auto bundle and shipbreaking scrap last week.Long and flat steelmaker ??olakoglu cut its buy price for auto bundle scrap by 60 lira per tonne to 1,885 lira ($275) per t...Read More
Seaborne premium hard coking coal prices were largely stable on Monday June 29 due to a lack of trading, but most market participants expect hard coking coal prices to climb in line with the earlier increase in premium hard coking coal prices.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.57 per tonne, down $0.22 per tonne Premium hard coking coal, cfr Jingtang: $122.81 per tonne, dow...Read More
Seaborne iron ore prices fell on Monday June 29 due to a weak demand outlook, reflecting heavy rainfall in several parts of China and fresh pollution control restrictions imposed on mills in Tangshan for the month of July. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $99.85 per tonne, down $3.49 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $102.45 per tonne, down $4.04 per to...Read More
Trading activity for seaborne iron ore concentrate and pellets was limited last week due to Chinese holidays on Thursday and Friday.Fastmarkets' index for iron ore 66% Fe concentrate, cfr Qingdao stood at $109.83 per tonne last Friday June 26, down by $2.67 per tonne from $112.50 per tonne a week earlier. Sources said demand for seaborne concentrate was subdued during the week due to the availabil...Read More
Mining company BHP Group and steel producer China Baowu Steel Group have completed their first iron ore trade on MineHub Technologies Inc's blockchain-based platform. The platform, which was launched in October 2019, aims to improve efficiency in trading operations and in environmental and social governance (ESG) compliance in the mining and metals supply chains.MineHub said the trade marks the fi...Read More
China's domestic rebar prices dropped on Monday June 29 to track falling futures amid a pessimistic outlook of demand during the rainy season.Domestic Eastern China (Shanghai): 3,530-3,560 yuan ($504-508) per tonne, down by 30 yuan per tonneMost parts of eastern and southern China are experiencing heavy rain that is forecast to persist over the next three days. Such weather shortens the working ho...Read More
Asian-Pacific equities and pre-market European equity index futures were weaker this morning, Monday June 29, but base metals prices were for the most part firmer. Nikkei led on the downside this morning with losses of 2.21%.Covid-19 surges in some southern US states, with 2.5 million confirmed cases reported in the country.Profits in China's industrial sector showed growth of 6% year on year in M...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...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...Read More
The latest data for the global manganese ore market for the week ended June 29, 2020.Read More
Covid-19 has exposed the overdependence and vulnerability in the electric vehicle (EV) supply chain, which supports the development of other regional battery production hubs in the coming years, panellists said in a Fastmarkets webinar last week."There is growing nationalism and regionalism [and] coronavirus has been a wake-up call for how dependent industries are on China," Emily Hersh, managing...Read More
European spot prices for high-carbon ferro-manganese and silico-manganese have fallen by more than 7% in the past week, in line with soft demand and persistently lower ore prices, sources told Fastmarkets on Monday June 29.New spot deals and offers have dragged alloy prices down to levels last seen about six months ago, and further weakness was expected when steelmakers shut down furnaces in July...Read More
European prices for vanadium pentoxide (V2O5) and ferro-vanadium continued to fall in the week ended Friday June 26 under pressure from weak end-user demand, with V2O5 prices dropping by 7%.Fastmarkets assessed the price of vanadium pentoxide, 98% V2O5 min, in-whs Rotterdam, at $5.10-5.50 per lb on Friday, down from $5.15-6.25 per lb in the previous week. The market was now at its lowest for three...Read More
Iamgold's (TSX: IMG) 70%-owned C??t?(C) gold project in northern Ontario has received a key federal permitting approval, taking it one step closer to a construction decision.The approval, under the Fisheries Act, is related to impacts on fish habitats and tailings management for the site, located 20 km southwest of Gogama.Iamgold says it's working toward a construction decision with Sumitomo Meta...Read More
Rupert Resources (TSXV: RUP) has reported two new drill results from its recently discovered Ikkari target at its wholly owned Pahtavaara gold project, located in northern Finland's Central Lapland Greenstone Belt, 150 km north-northeast of the town of Rovaniemi.Drill hole 120059 intersected 15.2 grams gold per tonne over 13 metres from 121 metres downhole including 36.6 grams gold per tonne over...Read More
Trevali Mining (TSX: TV; US-OTC: TREVF) has suspended operations at its Santander zinc-lead-silver mine in Peru after 19 workers tested positive for the Covid-19.Trevali said the workers were asymptomatic and put into quarantine.Further testing will be done at the mine, and the company did not provide a timeline for a restart.The underground mine is 215 km northeast of Lima and has a 2,000-tonne p...Read More