Turkish steel mills have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Thursday July 1.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 14,000 tonnes of HMS 1&2 (95:5) at $504.50 per tonne cfr. This was the third deep-sea deal heard so far this week, with another two...Read More
Chinese steel mills in several provinces have been instructed to lower their production rates this week for environmental reasons, thereby reducing demand for raw materials, sources said on Thursday July 1."The production cuts are not limited to the Tangshan area now. Mills in Anhui, Shandong, Zhejiang, Hunan, Shanxi, and Gansu provinces have all received instructions to keep their production rate...Read More
The German subsidiary of Blackstone Resources AG is to increase its lithium-ion battery production capacity tenfold, the company said.According to the Switzerland-based holding company, Blackstone Technology will increase its lithium-ion battery manufacturing capacity to 500 MWh per year at its D??beln site in Saxony by 2022. The batteries are made using the company's own 3D-printing...Read More
Japanese carmaker Nissan and Envision AESC, the battery arm of Shanghai-based green tech company Envision Group, will invest ?1 billion ($1.38 billion) to create a new energy hub in the north-east of England.Automotive giant Nissan and Envision plan to expand facilities at their carmaking plant at Sunderland, in north-east England, into a new energy hub, they announced on Thursday July 1.The proj...Read More
Chinese battery materials producer GEM's subsidiary company will invest in a battery-grade high-purity nickel and cobalt salts project with an annual capacity of 100,000 tonnes in Jinmen, Hubei province, the company announced on Wednesday June 30.Jinmen GEM High-purity Chemical Material, subsidiary of GEM, will invest 310 million yuan ($48 million) into the project to form production lines using r...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 1 that are worth another look.Brazilian exports of iron ore rose by 12.19% in June this year compared with the corresponding month of 2020, despite Vale closing down part of a large complex in southeastern Brazil, according to...Read More
Share this articleSASKATOON - Cameco (TSX: CCO; NYSE: CCJ) has made the decision to evacuate all non-essential personnel from the Cigar Lake uranium mine in northern Saskatchewan.The action is being taken as a precaution due to the proximity of a northern wildfire that is currently burning in the vicinity of the operation. The situation is complicated by extremely warm, dry weather, resulting fro...Read More
In last week's analysis of my macro-investment thesis "The Great Reopening," I laid out the events the United States specifically - and the rest of the globe generally - were experiencing in the beginning of the 1920s decade.Let me quickly remind you what was happening 100 years ago:End of the Spanish flu pandemic.End of World War I.Emboldened by the Bolshevik Revolution in Russia in 1917, Marxism...Read More
Domestic prices for hot-rolled coil across Europe were largely stable on Thursday July 1 while trading in the spot market remained limited, sources told Fastmarkets.Long lead times, exhausted credit lines among customers and the approaching vacation season contributed to a softening of buying interest, sources said. Most European buyers were doing hand-to-mouth purchases for limited tonnages this...Read More
We spoke with Grant Hendrickson, President and CEO of Makara Mining Corp. (CSE: MAKA; FSE: MK0; OTC: MAKAF) a mineral exploration company that holds options over the Rude Creek Property and Idaho Creek Property, located in the Yukon, the Kenora Gold Property located in Northwestern Ontario and the Davis and Paradise Valley claims, located in Nevada. We learned from Mr. Hendrickson that the Company...Read More
We spoke with Mike Cathro, P. Geo, who is a Director and the Interim President and CEO of Happy Creek Minerals Ltd. (TSX-V: HPY). Happy Creek Minerals is advancing two new exploration discoveries, in proximity to mines and infrastructure, in south central B.C., Canada. The 100% owned, 130 square kilometer, Fox tungsten property is among the highest-grade tungsten resources in the western world. Th...Read More
Turkish prices for various flat steel products moved both upward and downward during June, with the future for the prices seeming to be unsure because of the broader global market uncertainty, sources told Fastmarkets on Thursday July 1.The main reasons for this were that the traditionally slow summer season has started in most countries, China has not yet announced the rate for its planned export...Read More
Domestic prices for steel wire rod stabilized at high levels in the week to Wednesday, despite softer buying, supported by limited availability, high scrap values, sources told Fastmarkets on June 30.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?840-870 ($998-1,033) per tonne on June 30, widening down from ?,?850-870 per tonne de...Read More
The Turkish long steel export market remained quiet this week, keeping prices stable, market participants said on Thursday July 1.Long steelmakers in the country continued to offer rebar for exports at $730-750 per tonne fob on actual weight basis.There was only one small export trade heard in the week to July 1. A...Read More
The United Kingdom has extended safeguard measures against imported steel for three years - until June 30, 2024 - the UK Trade Remedies Authority (TRA) said on June 30."The tariff-rate quota is an extension of the tariff-rate quota imposed by the European Union on behalf of the United Kingdom and other countries or territories that had effect in the United...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 1 that are worth another look.Brazilian exports of iron ore rose by 12.19% in June this year compared with the corresponding month of 2020, despite Vale closing down part of a large complex in southeastern Brazil, according to...Read More
Turkish steel mills have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Thursday July 1.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 14,000 tonnes of HMS 1&2 (95:5) at $504.50 per tonne cfr. This was the third deep-sea deal heard so far this week, with another two...Read More
Iron ore prices went up on Thursday July 1 and there was market chatter about a crude steel production limit for 2021 in certain Chinese provinces, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $219.32 per tonne, up $5.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $221.75 per tonne, up $3.90 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.51 per...Read More
The price of steel billet exported from the Commonwealth of Independent States via the Black Sea fell further on Thursday July 1, due to an ongoing lack of interest from buyers in most destinations.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was calculated at $625 per tonne on July 1, down by $5 per tonne day on day.An offer from one Ukrainian producer was heard...Read More
It is highly likely we have entered capitulation and that crypto prices have gone out of bounds; the first stop is Bitcoin at $20,000 and then possibly to $10,000 says Clem Chambers, CEO of ADVFN."We are heading to BTC $20,000 and Ethereum $1,000. There will be almighty volatility," he tells our Daniela Cambone. "Traders should be armed to the teeth with tools to play that madness, but for the inv...Read More