China's nickel pig iron (NPI) price narrowed upward in the week to Friday June 11, driven by strong demand from Chinese stainless steel mills, while nickel ore prices also rose, Fastmarkets has heard.Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,165-1,180 yuan ($182.30-184.70) per nickel unit on June 11, narrowing upward by 15 yua...Read More

Zijin Mining will set up a new copper concentrate blending facility through a joint venture (JV) with state-owned conglomerate Minmetals, Fastmarkets learned.The blending facility will be in Lianyungang port of Jiangsu province and has already received preliminary approval from China's customs, four sources with knowledge of the matter said.Pending approval from local customs, which market sources...Read More

Most base metals stocks continued their declines in Shanghai Futures Exchange-registered warehouses in the week to Friday June 11, with zinc leading in percentage terms at a 21.5% drop. Zinc inventories were at 56,582 tonnes on Friday, down by 15,521 tonnes from 72,103 tonnes a week prior. The largest outflows were recorded at R&S Logistics in Shanghai, where stocks fell by 5,400 tonnes (43.6%) to...Read More

Brazilian slab export prices were stable this week, with most buyers taking a step back and waiting for more definition in the market.Fastmarkets assessed the price for steel slab export, fob main port Brazil unchanged at $980-1,000 per tonne on Friday June 11.Offers to the United States were sustained at $1,000 per tonne fob, but no deal was reported.Despite the hesitancy, the market in the...Read More

Volatility persisted in the South American flat-rolled steel market as import prices mostly decreased during the week to Friday June 11 after rebounding the previous week.Importers told Fastmarkets concerns about new changes to Chinese taxes and a lack of visibility about which trend prices would follow were resulting in less quoting and orders.Most sources said during the week they were expecting...Read More

Domestic prices for hot-rolled coil were fairly stable in Europe on Friday June 11 despite slower demand and a weakening of import prices, sources told Fastmarkets.The domestic prices were supported by good order books at EU mills. Producers in Northern Europe were heard selling fourth-quarter-rolling material, although Italian mills were still able to offer volumes for shipment at the end of the...Read More

Turkish domestic hot rolled coil prices fell slightly, while cold-rolled coil prices increased in the week to Friday, June 11, amid moderate demand, sources told Fastmarkets.Flat steel imports, meanwhile, were the opposite, with HRC prices increasing and CRC on the decline."Everyone is waiting to see what will happen in the global markets. Prices fell about two weeks ago in China, but then started...Read More

The European Commission plans to start an anti-dumping investigation into hot-dipped galvanizing coil from Turkey and Russia, market sources told Fastmarkets on Friday June 11. Multiple market participants said that European steel association Eurofer has lodged a complaint and that the executive arm of the European Union is likely to announce the start of the case soon. Eurofer declined to comment...Read More

Hot-dipped and pre-painted (color-coated) galvanized coil prices decreased in Turkey over the week to Friday June 11 because of weak demand, especially in export markets, sources told Fastmarkets.Demand was lower in the export markets because of the upcoming summer holiday season as well as market expectations of a new anti-dumping investigation in Europe for Turkish hot-dipped galvanized coil (HD...Read More

China-based steel traders have regained their appetite for steel billet imports following increases in their domestic steel markets over the last few days, sources told Fastmarkets on Friday June 11.The most traded rebar and hot-rolled coil futures contracts on the Shanghai Futures Exchange closed up by 3.74% and 3.13% respectively on Friday afternoon.Fastmarkets' price assessment for steel billet...Read More

McDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesThe former Xstrata boss Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationSpeaking during a webinar, Skarn analyst Sophie Chung characterised securing renewable energy sources as a valid first step to decarbonising a mine and was particularly relevant in the copper sector.Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Investors are waiting for the June Michigan Consumer Sentiment Index to be released at 10:00 AM EDT. Consensus is an increase to 84.0 from 82.9 in May.Biogen added $4.74 to $419.45 after JP Morgan raised its target price from $269 to $435. Also, UBS upgraded the stock from Neutral to Buy.B...Read More

The market for pig iron exports from Brazil was quiet but firm during the week to Friday June 11.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620 per tonne on Friday, stable week on week.No new sales were reported from the...Read More

Prices for inter-merchant light iron scrap in the United Kingdom were stable for the third consecutive week on Friday June 11, supported by firm fundamentals and with suppliers negotiating monthly delivery settlements into domestic steelmakers, trade sources told Fastmarkets.British scrap supplies into yards have been tight in recent months amid reduced scrap arisings from depressed car production...Read More

Hopes were high on Friday June 11 that global scrap prices were rebounding, with China looking to import steel billet again amid rising prices in its domestic steel market. Turkish steel mills were also purchasing import cargoes again.Turkey returns to spot marketUS West Coast sells to Bangladesh at $15 per tonne decreaseTaiwanese buyers fail to secure cheaper materialsChina sees price uptick as w...Read More

Pig iron import prices in the United States increased in the week to Friday June 11, on reports of a fresh booking from Russia, sources told Fastmarkets.Russian pig iron was sold to a US distributor at $672 per tonne cfr, which is about $7 per tonne above the cost of CIS-origin pig iron booked in late May-early June, sources said.Fastmarkets' price assessment for pig iron,...Read More

Prices of shredded steel scrap imported into India and Pakistan have risen following fresh purchases on the market, sources told Fastmarkets on Friday June 11.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India was $516.47 per tonne, down from $520.54 per tonne on June 8, but up week on week from $509.50 per tonne on June 4.Three deals were heard at $515 per tonne in the...Read More

Turkish steel producers made no deep-sea scrap bookings on Friday June 11, after deals were heard earlier this week at increasing prices, market participants said.Steel mills in Turkey booked at least five deep-sea cargoes earlier this week in response to the recent recoveries in the domestic and export rebar markets.A steel mill in the Iskenderun region booked a Canadian cargo comprising 9,500 to...Read More

Seaborne coking coal prices were largely stable in cfr market on Friday June 11 amid low trading activity in North American coking coal cargoes. The fob market rose because of continuous buying interest for July-laycan cargoes from Australia, market sources said.Prices for seaborne pulverized coal injection (PCI) surged upward in the cfr market in the week to June 11 due to continuing supply tight...Read More