The export market for steel billet from the Commonwealth of Independent States softened on Wednesday June 9 in new deals from Ukraine.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was calculated at $644 per tonne on June 9, down by $2 per tonne from $646 per tonne a day before.A few deals for Ukraine-origin billet totaling 15,000 tonnes were done to Italy. Sales...Read More

A workers' strike at Vale's Sudbury nickel mine, in the eastern Canadian province of Ontario, is now in its second week, but would have to continue for at least a month before nickel premiums would rise in the United States, according to most market sources consulted by Fastmarkets this week.They were considering the effect on cut cathode premiums, especially.Vale Canada is North America's main pr...Read More

US Midwest aluminium premiums were likely to stay at elevated levels on continuing strength in physical demand and the continuation of trade tariffs, the chief financial officer of Alcoa has said.According to William Oplinger, the Midwest premium was currently 27 cents per lb, a situation that was likely to continue provided the current factors bullish remained in place."Assuming strong demand and...Read More

Two Chinese investors into Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) have signed offtake agreements for phase 1 output, operator Ivanhoe Mines said on Wednesday June 9.CITIC Metal (HK) Limited and Zijin Mining's subsidiary Gold Mountains (HK) International Mining Co will each have access to 50% of Kamoa Kakula's copper concentrate and blister copper, Ivanhoe said The offta...Read More

Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More

Rising storage and logistics costs sent the US lead premium to an all-time high on Tuesday June 8, while Chinese zinc market participants expect domestic supply to rebound when the Yunnan government ends the cap on power consumption for manufacturing in three weeks. The US 99.97% lead premium reached a new record high, supported by rising logistics costs.  Power limits in China are due to en...Read More

Prices for steel hollow sections in Europe were unchanged on Wednesday June 9 following recent stability of feedstock costs and uncertainty over the upcoming European Commission safeguard decision, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,607-1,631) per tonne on June 9, unchanged week on week...Read More

Iranian steel billet export prices increased in week to Wednesday June 9, with several deals heard in the market, but slab export prices fell, sources told Fastmarkets.Last week, Iranian mills were waiting for some clearer price direction from China, and one order was even canceled  in response to domestic billet prices in China dropping to 4,730 yuan ($747) per tonne on May 27.But domes...Read More

Great Panther Mining is a precious metals miner in the AmericasSPONSOREDgreat pantherStellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDThe future economy is looking greenSPONSOREDlomiko metals incDrilling returned an intercept of 14m grading 0.89% copper and 8 grams per tonne silver including 6m grading 1...Read More

LME base metals have looked tired, having lost their upward momentum in the past few days, but underlying support looks plentiful, with all the base metals on the SHFE being in positive territory this morning, Wednesday June 9.* US 10-year treasury yields have fallen, not on haven buying, but because the market seems more sanguine that central banks will not rock the boat anytime soon...* ...but w...Read More

European steel H-beam prices reached new highs on Wednesday June 9, with mills continuing to push through successful increases, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?970-1,000 ($1,181-1,218) per tonne on Wednesday, up from ?,?940-970 per tonne one week earlier.Some mills remained out of the market, with full...Read More

Great Panther Mining is a precious metals miner in the AmericasSPONSOREDgreat pantherStellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDThe future economy is looking greenSPONSOREDlomiko metals incThe potential to give voters the final say on the likely US$1.Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe contract is the largest single operational contract for the Motheo project and has a term of seven years and three months, with the option to extend for a year.Read More

Steel wire rod prices in the north of Europe were broadly stable at high levels during the week to Wednesday June 9, with more rises expected due to supply tightness, sources said.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was unchanged week on week at ?,?830-850 ($1,011-1,035) per tonne on Wednesday.Several bookings were reported in...Read More

Great Panther Mining is a precious metals miner in the AmericasSPONSOREDgreat pantherStellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDThe future economy is looking greenSPONSOREDlomiko metals incKSM is one of the largest undeveloped gold-copper deposits in the world with proven and probable reserves of 3...Read More

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 4 points in pre-opening trade. The Canadian Dollar was quiet at US82.78 cents prior to news from the Bank of Canada. Its overnight lending rate for Canada's major banks to be announced at 10:00 AM EDT is expected to remain unchanged at 0.25%.UPS (UPS $209.76) is expected to open higher after the company raised...Read More

Stainless steel scrap prices in the United States rose again over the past week amid big gains in the ferrous market and while nickel prices have continued to hover just above the $8-per-lb ($17,640-per-tonne) threshold."We can thank the iron market for the latest stainless price increase, especially since the London Metal Exchange nickel continues to struggle to move further to the upside," one d...Read More

Turkish steel mills continued their deep-sea scrap purchases for July shipment at slightly higher prices on Wednesday June 9, having only just resumed buying activity on Tuesday after a near-two-week break, market participants told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $498 and bonus scrap at $508 per tonne cfr.The same mill also bo...Read More

Fastmarkets' index of the 63% Fe Australia-origin lump ore premium, cfr Qingdao, hit a record-high on Wednesday June 9 amid strong activity on a trading platform.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $212.67 per tonne, up by $3.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $214.71 per tonne, up $2.90 per tonne58% Fe fines high-grade premium, cfr Qingdao: $187.88 per tonne, up...Read More

Seaborne premium hard coking coal prices remained largely stable in both the cfr and fob on markets Wednesday June 9, with most market participants on the sidelines, source said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $168.50 per tonne, up $0.20 per tonnePremium hard coking coal, cfr Jingtang: $282.87 per tonne, up $0.20 per tonneHard coking coal, fob DBCT: $145.43 per tonne, up $3...Read More