Bangladeshi mills are unwilling to pay current offer prices for bulk cargoes and will wait for price decreases before placing any orders, market sources told Fastmarkets on Thursday June 18. US West Coast sellers have had success in selling bulk cargoes at higher prices to South Korea, Thailand and Vietnam in the last week, but will not find business so fruitful in Bangladesh, market participants...Read More

Seaborne iron ore prices fell on Thursday June 18 after Vale announced the gradual resumption of operations at its Itabira complex in southern Brazil. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $102.40 per tonne, down $1.69 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $105.17 per tonne, down $1.26 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $92.78 per...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore prices climbed further last week and we expect the elevated levels to remain into the next month. In particular, further upside will come from blast furnace (BF) capacity, which was reduced in Europe, Japan and the United States and has now come back online after restrictions started to be removed. With Covid-19 spr...Read More

Export prices for steel scrap from Japan remained largely unchanged in the week to Wednesday June 17, but market participants expecting to see lower prices in the next bookings.Japan's export scrap prices for H2 heavy scrap have been on a consistent upward trend since early April, but the high prices have put off many buyers over the past week, with key consumers in Taiwan concentrating...Read More

Seaborne premium hard coking coal prices were pushed up slightly on Thursday June 18 by recent transactions of premium mid-volatility hard coking coal sealed at higher levels. Fastmarkets indices Premium hard coking coal, fob DBCT: $109.22 per tonne, up $1.04 per tonne Premium hard coking coal, cfr Jingtang: $118.19 per tonne, up $0.85 per tonne Hard coking coal, fob DBCT: $89.41 per tonne, unchan...Read More

China's domestic hot-rolled coil prices gained upward momentum on Thursday June 18 after the Chinese government announced financial support for small companies.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($521-522) per tonne, up by 40 yuan per tonneThe State Council signaled on Wednesday that it would lower the amount of reserves that banks are required hold to spur lending. The Chinese gov...Read More

China's domestic rebar prices edged up on Thursday June 18 amid rising futures following news about the Chinese government's plan to ease its monetary policy.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($502-506) per tonne, up by 10 yuan per tonneThe Chinese government intends to ease its monetary policy in the second half of this year to stimulate the country's economy, Premier Li Keqiang...Read More

Strong demand for seaborne iron ore and uncertainties over Brazilian supply of the steelmaking raw material continue to prop up spot prices despite Vale's resumption of operations at its Itabira mining complex."Even though the Itabira complex is good to resume, market participants still don't expect Vale to hit its target of 310 million tonnes this year, and low iron ore inventories at Chinese por...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 it applies.Fastmarkets...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 it applies.Fastmarkets assessed cobalt standard grade, in-whs...Read More

Key data from the Wednesday June 17 pricing session in London. Key drivers  Increased spot inquiry fails to continue into this week, with market participants indicating a short round of pre-summer restocking, that has now been concluded.  Sources say strong...Read More

News that carmaker Tesla secured a cobalt supply deal with Glencore has failed to lend any support to blue metal prices in China so far this week, with market participants instead focusing on persistently weak downstream demand.Tesla will purchase cobalt from trader-miner Glencore to feed its new "Gigafactories" in Shanghai and Berlin, several media outlets reported on Tuesday June 16.The news imm...Read More

As the last day of the Canadian Mining Symposium (CMS) began on June 18, it was clear that the global community had embraced the online, virtual version of the annual event. Anthony Vaccaro, group publisher of The Northern Miner and head of global mining for Glacier Resource Innovation Group, said there had been considerable feedback, comments and questions posted by attendees since the CMS began....Read More

Vale (NYSE: VALE), the world's top producer of nickel and iron ore, is fine-tuning details to reopen its Voisey's Bay open pit nickel mine and concentrator in Canada, next month.Full capacity at the northern Labrador-based operation should be reached in August, the Brazilian mining giant said today.Vale initially placed Voisey's Bay mine on care and maintenance for four weeks as a precaution amid...Read More

Drilling at MacDonald Mines' (TSXV: BMK) wholly owned SPJ property, 20 km east of Sudbury, has extended the strike length of the high-grade New Zone-Villeneuve trend to over 225 metres and the structure remains open.The company released results for six drill holes completed over the winter and spring. Highlights include 5 metres of 27.2 grams gold per tonne in hole 20-041 as well as 6 metres of 2....Read More

India has taken a historic step towards ending the state monopoly on mining and selling coal by auctioning 41 mines in the country, a move that allows private companies to enter the sector.The announcement, which puts an end to more than four decades of state control over the coal industry, aims to solve a fuel shortage that threatens to reduce the nation's industrial activity.The measure also see...Read More

Roscan Gold (TSXV: ROS; US-OTC: RCGCF) has signed a definitive agreement with Komet Resources (TSXV: KMT) to purchase the 35-sq.-km Dabia Sud gold property, which lies directly north of the company's 254-sq.-km Kandiole project in the western part of the country.In May, Roscan entered into a binding letter of intent with Komet for this purchase. To acquire the asset, the company will make a $1.6-m...Read More

Prior to the coronavirus outbreak, peak gold supply was becoming a real possibility. Now, with exploration programs halted or cancelled and project disruptions hampering production, the summit is in sight, according to research firm Wood Mackenzie's latest report.As organic growth is waning, miners are looking to buy gold through mergers and acquisitions to secure their future.So far this has fail...Read More

Rupert Resources on a Roll at IkkariSPONSOREDCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesNew York and Toronto listed Yamana Gold has an interest in five mines operating in Canada, Brazil, Chile and Argentina.Read More

Brazilian sellers have ramped up containerized exports of steel scrap into South Asian markets over the past year but this explosion in export sales is unlikely to be a long-term trend, sources have told Fastmarkets. Scrap collectors and processors in the country have traditionally sold the vast majority of their stocks in the domestic market, with only the excess being exported. But waning Brazil...Read More