The European hot-rolled coil market remained slow on Monday August 9 due to seasonal factors, sources told Fastmarkets.Buyers and sellers are expected to return to the market in late August or early September, following the traditional market cycle."The market is almost dead - Europe is on holiday and buyers have a wait-and-see attitude," a German distributor said.Traded volumes are unlikely to be...Read More

Trading activity in the European hot-rolled coil market has been low in the week to Friday August 6 due to the start of the summer slowdown.Sufficient buyer stocks and slow August activity have weakened trading but activity should recover between the end of August and the first half of September, sources said.Most domestic producers only had HRC available from fourth-quarter rolling material, whil...Read More

Spot prices for rebar imports in Singapore increased in the week to Friday August 6 on decreasing spot supply and higher offers.A major Indian steel mill offered rebar at $750 per tonne cfr Singapore on a theoretical-weight basis, while a second Indian steel mill offered rebar at $775 per tonne cfr Singapore on a theoretical-weight basis."The first steel mill is not able to guarantee some aspects...Read More

Trading activities across China's domestic hot-rolled coil spot market improved on Monday August 9 after prices declined.DomesticEastern China (Shanghai): 5,720-5,780 yuan ($883-892) per tonne, down by 20-70 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange slipped to a three-day low of 5,651 yuan per tonne on Monday morning, before clawing back some losses to finish the...Read More

Heavy rain in the upper and middle reaches of the Changjiang River has led to lower activity at construction sites, pushing down spot market rebar prices on Monday August 9.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, down by 20 yuan per tonneHeavy rain in certain parts of Sichuan, Chongqing, Hubei, Hunan, Jiangxi, Guizhou and Yunnan, have had a serious impact...Read More

China's Dalian Commodity Exchange (DCE) has announced an increase to the minimum margin for speculative trading of its most-active September coking coal contract to 20%, from 15%.The increase takes effect on Monday August 9, it said on Thursday August 5.This is the exchange's second such adjustment, having raised the minimum margin to 15% from 11% on August 2.The DCE is also adjusting the minimum...Read More

Import prices for steel scrap in Turkey dipped on Monday August 9 after recent bookings made by steel mills in the country came to light at the start of this week, sources told Fastmarkets.A steel mill in the Iskenderun region bought a United States-origin cargo for September shipment comprising 30,000 tonnes of HMS 1&2 (80:20) at $461 per tonne, and 5,000 tonnes of shredded and 5,000 tonnes of bo...Read More

Shipbreaking steel scrap prices in Turkey dropped during the week to Monday August 9, in line with prices for imported scrap, market participants told Fastmarkets.Turkish steel mills booked at least five deep-sea cargoes, with prices dropping through the week.Fastmarkets' assessment for steel scrap, heavy melting scrap 1&2 (80:20 mix) United States origin, cfr Turkey was calculated at $463.90...Read More

Brazil's pig iron export market dropped in the week to Friday August 6 due to pressure from bearish buyers in the United States, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $540-542 per tonne on Friday, down from $560-570 per tonne a week earlier.A sale of 55,000 tonnes of pig iron with September shipment was heard to...Read More

Stronger-than-expected United States employment figures on Friday August 6 turned the dollar higher, which weighed on prices, with most base metals weaker this morning, Monday August 9, but gold and silver underwent a 'flash crash' at the start of trading in Asia.Signs of a stronger US recovery weighed heavily on gold and silver on Friday, which led to a chaotic start to trading this morning. US 1...Read More

Key data from the Friday August 6 pricing session in London and ChinaKey driversCobalt hydroxide payables fell in the second half of the week to Friday August 6 after a rise on August 4, with a deal reported at a higher level. Most buyers were still reluctant to accept a higher level in the second half of the week considering...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...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.Read More

Chinese magnesium market participants which have strong capital resources have become the "middlemen" between domestic producers and exporters over the past few months, Fastmarkets has learned.Sources reported that such "middlemen" procured magnesium from producers, thus reducing plants' stocks and pushing up prices, and then sold the material to exporters which needed to fulfil overseas contracts...Read More

Privately held U.S. explorer-developer Arizona Sonoran Copper Company (formerly Elim Mining) is completing a preliminary economic assessment (PEA) on its Cactus porphyry copper project in Arizona before year-end, recently installed president and CEO George Ogilvie tells The Northern Miner.The company is working to reactivate the brownfields copper deposit in the shortest possible timeframe. In con...Read More

Chesapeake Gold (TSXV: CKG) has done for the Metates project in Durango, Mexico - one of the world's largest undeveloped gold-silver projects - what others before it could not. CEO and director Alan Pangbourne tells The Northern Miner that the company has cracked the code to undertake the heap leach processing of sulphide material that ultimately has the potential for Chesapeake to disrupt and enh...Read More

China Molybdenum will invest $2.51 billion into expanding copper and cobalt production at the Tenke Fungurume mine (TFM) in the Democratic Republic of Congo (DRC), the company said on August 7 in a filing to the Shanghai Stock Exchange.The new investment, which includes three ore production lines with an annual processing capacity of 12.4 million tonnes, will expand its annual copper output by 200...Read More

Key data from Fastmarkets' pricing session in Shanghai on Friday August 6.Key drivers China's domestic bismuth price ticked up with deals concluded within the assessed range. Demand from downstream industries was limited, while participants' purchases...Read More

KoBold Metals, a start-up backed by a coalition of billionaires including Microsoft co-founder Bill Gates and Amazon's founder and executive chairman Jeff Bezos, has partnered with Britain's Bluejay Mining (LSE: JAY; US-OTC: BLLYF) to explore for critical materials used in electric vehicles (EVs) in Greenland. KoBold, which uses artificial intelligence and machine learning to help find key minera...Read More

Euro Sun Mining (TSX: ESM) says it plans to float on the London Stock Exchange later this year, likely in September, as it looks to fund the first phase of its Rovina Valley copper-gold project in Romania. The junior, the first non-state-owned entity to receive a ratified mining licence in the European country, said a London IPO would raise its profile in the United Kingdom and global investmen...Read More