Prices for steel scrap imported into China were unchanged on Thursday June 17, with only limited negotiations between buyers and sellers.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $530-540 per tonne on Thursday, unchanged day on day. Offers from Japan were heard at $570-580 per tonne...Read More
Volkswagen Group is seeking partnerships with battery raw material producers in order to vertically integrate and achieve security of supply and competitive prices for its minerals needs, a spokesperson for the German automaker told Fastmarkets on Thursday June 17.This is in line with the company's strategy to move forward with the electrification of its fleet. Besides gaining security of supply,...Read More
The upward momentum in cobalt spot prices continued on Thursday June 17 with prices rising for the second consecutive day, and traders becoming aggressive in the market after sensing a return of demand.Fastmarkets' price assessment for cobalt, standard grade, in whs Rotterdam, was $20.20-20.95 per lb on Thursday. This was up from $20.10-20.70 per lb the previous day.https://www.metalbulletin.com/M...Read More
Most producers of cobalt sulfate in China kept their offers high in the past week but buyers put up resistance and were cautious about placing orders, sources told Fastmarkets.Producers were asking for 71,000-73,000 yuan ($14,738-15,153) per tonne during the week, the same as a week earlier, but buyers were not willing to pay these amounts. As such, only a few deals were said to have been conclude...Read More
Share this article VANCOUVER - Kuya Silver Corp. [KUYA-CSE; KUYAF-OTCQB, 6MR1-FSE] said Thursday, June 17 it has raised $9.2 million from a bought deal private placement. Proceeds of the financing will be used to fund development activities at the company's flagship Bethania silver mine in central Peru.The Bethania mine was in production until 2016, toll-milling its ore at various other concent...Read More
Share this article Anglo American's [AAL-LSE] De Beers Group unit, Debswana Diamond Company, and the government of Botswana announced the discovery of a 1,098-carat diamond believed to be the third largest gem-quality stone ever to be recovered, according to a Reuters article.Debswana Diamond Company's acting managing director Lynette Armstrong presented the spectacular gemstone to Botswana's Pre...Read More
When Elon Musk took a giant dump on Bitcoin, the cryptocurrency plummeted.And boy were Bitcoin gamblers pissed!Those who decided to trade Bitcoin in an effort to "get rich quick" watched the value of their holdings crash in a matter of hours.Of course, blaming Elon Musk for tanking Bitcoin is like playing the slots and blaming the guy next to you (who just cashed out a big score) for your bad luck...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Darrin Campbell, President of Namibia Critical Metals, tells us more about their projects in Namibia. Namibia Critical Metals Inc. (TSXV: NMI) holds a diversified portfolio of exploration and advanced stage projects, in the country of Namibia, focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The two advanced stage...Read More
Trading activity in the European heavy plate market slowed in the week to Wednesday June 16 and buyers stayed in wait-and-see mode, sources told Fastmarkets."We have almost zero buying and zero selling activity this week," a German distributor said.Availability is also limited from European suppliers."The delivery time from German steelmakers is October-November. On top of that, Salzgitter is faci...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Domestic steel rebar prices in Turkey have widened upward significantly, market sources said on Thursday June 17, while wire rod prices were stable.Demand was moderate in Turkey because of low levels of construction activity, sources told Fastmarkets.The country's scrap prices decreased recently, but the price falls were not sharp.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Nort...Read More
Turkish steel rebar export prices widened in the week to Thursday, June 17, while wire rod export prices fell - mostly due to a slowdown in construction activity, but also in response to falling scrap values, sources told Fastmarkets.Several rebar deals were heard during the week at prices ranging from $730 per tonne fob to $770 per tonne fob on an actual-weight basis.Steel scrap is the main raw m...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Turkish steel mills extended their silence in the deep-sea scrap market on Thursday June 17, with market participants reporting no new bookings for the second day in a row and describing the market as "quiet."Two cargoes heard booked earlier in the week, but brought scrap prices down by $10 per tonne. This week, Turkish steel mills have mostly focused on selling rebar in the export market, with Fa...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Turkish steel billet prices in local and export markets have increased this week on improving demand, while imported billet prices narrowed downward, market participants said on Thursday June 17.Turkish market participants were expecting prices to increase for billet because of high scrap prices.Scrap prices decreased during the week, but the price falls were not sharp.Fastmarkets' daily index for...Read More
Offers from billet producers in the Commonwealth of Independent States were stable in the second half of the week despite reports of limited demand.Customers in Asia, particularly China, were not willing to pay above $700 per tonne cfr early in the week, which would be equivalent to $640 per tonne fob Black Sea. No deal were concluded at this price because it was considered too low by mills sellin...Read More
As you may already know, Mike Maloney took some significant profits from the crypto markets when Bitcoin was hovering around $60k. Now that we are experiencing a pullback in gold and silver, find out what Mike plans to do with that cash that has been patently sitting on the sidelines. You'll also hear some great analysis from Jeff Clark and Adam Taggart on yesterday's Fed announcement, as well as...Read More