The prices of billet in Turkey have weakened in the week to July 29 due to falling scrap import values, sources told Fastmarkets.The Turkish deep-sea scrap import prices fell in the week because steel mills resisted for lower prices amid limited steel trade. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was calculated at $475.96 per tonne on July 28, down by...Read More

Billet producers from the Commonwealth of Independent States increased offers for foreign customers this week despite the lack of inquiries from typical customers.Early in the week, market participants reported offers within the range of $650-660 per tonne fob Black Sea, but by the end of the week those had increased to $660-665 per tonne fob, while some producers mentioned even $670 per tonne fob...Read More

U.S. equity index futures were mixed this morning. S&P 500 futures were up 3 points in pre-opening trade.U.S. equity index futures were quiet prior to release of U.S. economic reports at 8:30 AM EDT. Consensus for second quarter annualized real GDP is an increase of 8.6% versus a gain of 6.4% in the first quarter. Consensus for June Personal Income is a drop of 0.3% versus a decline of 2.0% in...Read More

Indian steelmaker Jindal Stainless (JSL) plans to add 1 million tonnes per year to its melting capacity with a major brownfield project scheduled for completion in late 2023, the company said this week.JSL will build the new capacity on a site at its existing production plant in Jajpur, in the east Indian state of Odisha, it said on Wednesday July 28.The brownfield expansion should be complete by...Read More

Turkish deep-sea scrap import prices have fallen due to a United States cargo deal completed at a low price, sources told Fastmarkets on Thursday July 29.A steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $471 per tonne with shredded and bonus at $486 per tonne cfr.This compares with the previous deep-sea booking heard on Wednesday July 28, when a steel mill in the...Read More

Recycling firm Chiho Environmental Group (CEG) has appointed experienced scrap industry figure Tom Bird as chief trading officer, the company announced on July 27. The appointment was effective from July 1.Chiho is China's largest scrap metal recycling company, running 700 yards globally with extensive operations in the recycling of ferrous and non-ferrous metals scrap. CEG also owns both German f...Read More

Iron ore prices fell on Thursday July 29 amid thin liquidity and soft market sentiments, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $196.06 per tonne, down $6.62 per tonne62% Fe low-alumina fines, cfr Qingdao: $197.46 per tonne, down $5.62 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.87 per tonne, down $7.36 per tonne65% Fe Brazil-origin fines, cfr Qingdao:...Read More

China's domestic rebar prices picked up on Thursday July 29 following futures gains on expectations of tight supply caused by a new power pricing method, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,300-5,330 yuan ($820-825) per tonne, up by 30 yuan per tonneThe National Development and Reform Commission now requires local governments to change peak-valley power prices for industri...Read More

Seaborne coking coal prices inched up in both the cfr and fob markets on Thursday July 29 amid supply tightness and firm buying interest, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $216.04 per tonne, up $0.49 per tonnePremium hard coking coal, cfr Jingtang: $317.22 per tonne, up $1.46 per tonneHard coking coal, fob DBCT: $183.25 per tonne, up $0.84 per tonneHard coking coa...Read More

Prices of hot-rolled coil across China's domestic market followed futures prices higher on Thursday July 29, while the export market remained muted amid persistent fears of changes in the export tax policy, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,920-5,950 yuan ($916-920) per tonne, up by 40-50 yuan per tonneGains in the most-traded HRC contract on the Shanghai Futures Exchang...Read More

Base metals prices on the London Metal Exchange were up across the board during morning trading on Thursday July 29 given a range of price-supportive events, with nickel the standout performer with an increase of 1.4% from its closing price on Wednesday.The three-month nickel price stood at $19,810 per tonne at 9am on Thursday, up from $19,543 per tonne at the previous day's 5pm close. The metal a...Read More

Chinese copper fabricators bought copper cathode at bigger discounts against exchange prices during a second batch of sales by China's state reserves administration on Thursday July 29. The auctioned material was sold at around 70,000 yuan ($10,767) per tonne in the provinces of Zhejiang and Ningbo, bidders told Fastmarkets. This is a discount of about 1,300 yuan per tonne against the August coppe...Read More

The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More

A multi-country trade case involving silicon metal imported to the United States concluded on Wednesday July 28, when the US International Trade Commission (ITC) decided to apply the recommended 12.27% anti-dumping duty on Malaysian silicon imports."The United States International Trade Commission today determined that a US industry is materially injured by reason of imports of silicon metal from...Read More

China produced 16.24 million tonnes of crude stainless steel in the first six months of 2021, up by 20.82% from a year earlier, according to data released by the China Stainless Steel Council (CSSC) on Tuesday July 27.Apparent consumption totaled 13.88 million tonnes during the period, up by 2.70 million tonnes (24.20%) from the first half of 2020, it...Read More

China's stainless steel market was unaffected by anti-dumping duties that emerged from South Korea in the past week, with prices rising amid tightening supply and costlier raw materials.The Korea Trade Commission on July 22 said it would impose anti-dumping duties of 7.17-25.82% on stainless flat-rolled steel products from mainland China, Taiwan and Indonesia. The rates are as follows:Mainland Chi...Read More

Nouveau Monde Graphite (TSXV: NOU; US-OTC: NMGRF) has begun civil construction works for its Matawinie graphite mine in Saint-Michel-des-Saints, Quebec, 120 km north of Montreal. Commercial production is scheduled to begin by the end of 2023.The company is taking a phased approach to becoming a vertically integrated source of green battery anode material. First is development. The company says tha...Read More

Gold made history in 2020 when the price hit a record high in August as pandemic concerns weighed on investor sentiment.Gold mining has been a hallmark of commerce across the ages, and according to the United States Geological Survey (USGS), about 244,000 tonnes of gold has been discovered to date, resulting in 187,000 tonnes of historical production, leaving the current underground reserves at...Read More

Anglo American (LSE: AAL) will return US$4.1 billion to shareholders as soaring commodity prices and the re-opening of economies around the world helped the company hit the best half-year profits in its 104-year history. The diversified miner reported pre-tax profits of US$10.1 billion for the six months to June, up from US$1.7 billion in the same period last year. Revenue rose 114% to US$21...Read More