Steel rebar and billet prices remained unchanged in Egypt in the week to Thursday, August 12, with demand still only moderate, sources told Fastmarkets.Demand was limited in late July because of the Eid al-Adha festival on July 20-23.However, construction activity has picked up since the removal of the construction ban, the country's biggest...Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsMining and the lack of external investmentSPONSOREDswannControl Risks analyst Claudia Navarra said that the Castillo government's ideological affinity to the Chavez-Maduro reg...Read More

Iranian slab prices for foreign customers continued to fall in the week to August 12, pressured by weak consumer markets in Asia and Europe.Fastmarkets' price assessment for steel slab, export, fob ports Iran decreased by $20-25 per tonne week on week to $700-720 per tonne on August 11, from $725-740 per tonne fob on August 4.European customers were inactive due to the summer slowdown, w...Read More

In April, an environmental court in Antofagasta ruled the project complied with regulations and presented all information required for its evaluation and sent it back to the regulator to review.Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsMining and the lack of external investmentSPONSOREDswannHigh prices for copper and growing prices for lithium at a time when miners are making record profits are seeing worker...Read More

Analysts noted there was currently a soft patch in metals demand.The copper and iron ore prices have softened from record highs reached in May, of US$10,747.50 per tonne and circa $230/t respectively.Spot copper was below $9,500/t on the London Metal Exchange yesterday and 62% Australian fines have fallen to $163/t according to MySteel."Slowing [Chinese] credit growth, especially when combined wit...Read More

It noted a strike at the BHP-managed Escondida mine and Codelco's Andina mine would put about 5% and 0.9% respectively of global copper supply at risk.Workers are set to vote on a contract offer in the coming days at Escondida, the world's largest copper mine, which has a history of labour action including a 44-day strike in the first quarter of 2017.Andina workers have reportedly voted to strike...Read More

Turkish steel mills again stayed away from the deep-sea scrap market on Wednesday August 12, while finished steel prices edged lower, sources told Fastmarkets.No new deep-sea cargoes were heard on the market today, continuing a trend of silence, although falling finished steel prices are beginning to weigh on market sentiment and purchasing decisions. The price of rebar in Turkey's domestic...Read More

A summary of Swedish state-owned iron-ore producer LKAB's financial results for the second quarter of 2021, ended June 30.In brief Iron ore output for the second quarter at LKAB was on a par with the previous year. Production was still suffering the effects of a seismic event at the Kiruna mine more than a year ago. At present, production in Kiruna is at around 90% of capacity, and recovery works...Read More

ArcelorMittal is to pilot the use of bio-coal as a partial replacement for fossil coal in the blast furnace at its steelmaking site in Ghent, Belgium, as a step toward cutting its carbon emissions, the company announced on Wednesday August 11.ArcelorMittal Ghent has taken this step on its decarbonization journey, it said, by choosing to use high-quality bio-coal as a raw material for its steel pro...Read More

Seaborne coking coal prices continued to increase in the cfr China market on Thursday August 12 and rose slightly in the fob market due to tight supply and good procurement demand, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $222.37 per tonne, up $0.28 per tonneHard coking coal, fob DBCT: $196.16 per tonne, up $0.25 per tonnePremium hard coking coal, cfr Jingtang: $340.19 p...Read More

Iron ore prices fell on Thursday August 12, on weakening market sentiment prompted by limited demand and thin liquidity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.96 per tonne, down $2.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $163.19 per tonne, down $2.78 per tonne58% Fe fines high-grade premium, cfr Qingdao: $130.72 per tonne, down $3.56 per t...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. U.S. equity index futures were quiet prior to release of the July Producer Price Index at 8:30 AM EDT. Consensus is an increase of 0.6% versus a gain of 1.0% in June. Excluding food and energy, consensus was a gain of 0.5% versus a gain of 1.0% in June. eBay advanced $1.98 to $70.50 after...Read More

Activity in the key Bangladesh and Vietnam deep-sea import scrap markets have increased in recent days, with mills in the countries increasingly interested in bulk shipments, sources told Fastmarkets on Thursday August 12.Deep-sea bulk deal heard in VietnamBangladesh bulk inquiries pick upTaiwan spot prices start to reboundChina scrap import prices remain static amid weak demandVietnamVietnam retu...Read More

China's domestic rebar prices fell on Thursday August 12, with end-user demand falling away due to heavy rainfall across large parts of the country.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, down by 30 yuan per tonneHeavy rain hit a large parts of China in recent days, interrupting construction activity and disrupting the transportation of rebar from warehouses.More h...Read More

The gold market - at least the paper gold market - has seen a lot of volatility recently. Gold lost about $80 between August 5 and August 8 before rebounding. Gold gained over $22 today, by the way, to close at $1,753.Many gold investors are panicked after the recent mini-crash. But today, I want to show you why the case for gold is still intact and why the recent tumble is just a bump in the road...Read More

Hot-rolled coil prices in China's domestic market pulled back on Thursday August 12, with market participants shifting their focus away from expectations of a drop in supplies after weak lending data sparked concerns over liquidity.DomesticEastern China (Shanghai): 5,790-5,810 yuan ($894-897) per tonne, down by 30-50 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange moved...Read More

China's stainless steel prices fell in both the domestic and export markets in the week ended Wednesday August 11 due to weakening demand and declines in nickel futures. The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,902 per tonne, down by $983 per tonne (4.9%) from $19,885 per tonne on July 30.China's domestic stainless steel fu...Read More

Tesla, the United States-based manufacturer of electric vehicles (EVs), is implementing a blockchain solution for end-to-end cobalt traceability in partnership with Glencore, China Molybdenum (CMOC) and Eurasian Resources Group (ERG), Glencore announced in a press release dated Thursday August 12.The Re|Source blockchain platform that Tesla is piloting was founded by Glencore, CMOC and ERG, and wa...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...Read More