The departure of Triland Metals Ltd from the ring of the London Metal Exchange does not trigger its permanent closure, with the floor still set to reopen on September 6, the exchange confirmed.Triland, one of the nine current Category 1 members of the LME, said in a letter to customers earlier on August 10 that it has applied to switch to Category 2 membership and will not return to the ring when...Read More

Aluminum smelters in China's Guangxi province have been notified by Guangxi Power Grid Company to reduce their regular power consumption by at least 30% before August 15 by staggering power usage, sources told Fastmarkets.Guangxi province has a yearly operating capacity of 1.9 million tonnes per year of aluminium and is currently operating at 93% of capacity. "We estimate that [output will re...Read More

Hot-rolled coil prices in the United States achieved yet another record high, with debate now intensifying over whether mills can eventually collect $2,000 per short ton ($100 per hundredweight) on hot band.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.67 per cwt ($1,893.40 per ton) on Tuesday August 10, an increase of 0.65% from $94.06 per cwt on Monday August...Read More

The event attracted 2520 delegates - the second-highest number ever - and it was wall-to-wall people in the two marquees.Read More

A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to June 30, 2021.In brief"Local rebar consumption reached 3.36 million tonnes in the first half of 2021, an increase of 2% over the first half of 2020," the company said in a release to the London Stock Exchange on Monday August 9."However, consumption in...Read More

Future remains golden for Rox ResourcesSPONSOREDrox resourcesCashed-up Karora is doubling gold production at a blistering paceSPONSOREDkarora resourcesZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsMining and the lack of external investmentSPONSOREDswannThe company produced 23,474 tonnes of copper in the quarter at a cash cost, net of by-product credits, of 84c per pound...Read More

The Wall Street Journal reviewed and published the findings of the 157-page report, which was later verified by Rio Tinto-controlled 66% Oyu Tolgoi owner Turquoise Hill Resources.Read More

Active sales of flat-rolled steel late in July and early in August have led to exporters from the Commonwealth of Independent States (CIS) trying to stabilize prices after their steady decline since May.Fastmarkets' weekly assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $920-930 per tonne on Monday, up from $915-925 per tonne a week earlier.The price bottomed out this year...Read More

Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on Tuesday August 10.Thyssenkrupp declared force majeure on July 16 because it was not able to ship feedstock steel products between the...Read More

Base metals prices on the London Metal Exchange were up across the board this morning, Tuesday August 10, this after a day of weakness on Monday – once again it looks like dips are being seen as a buying opportunity.Markets are focused on when central banks will start to tighten monetary policy, and to what degree the Delta variant of Covid-19 will slow the reflation tradeBase metalsLME three...Read More

The persistent logistics disruptions brought about by the Covid-19 pandemic have forced traders and buyers to rearrange their supply chains, and to change packaging and delivery destinations, while the continuing container crisis has pushed the US freight regulator to investigate the situation.The commodity world is facing logistics problems arising from the global container shortage. Additional p...Read More

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. U.S. equity index futures were virtually unchanged following release of the U.S. Second Quarter Productivity Report at 8:30 AM EDT. Consensus was an increase of 3.2% versus a gain of 5.4% in the first quarter. Actual was an increase of 2.3%.Kansas City Southern gained $12.05 to $282.46 on ex...Read More

Mixed signals have emerged over the next direction for the US Midwest ferrous scrap market, but sources seem fairly certain that No1 busheling could face its first downward correction since August 2020 in the next round of trading.September's outlook is murky. Some feel shredded scrap could hold up due to strong demand, while others disagree; and while there is consensus that prime scrap could dro...Read More

Ferrous scrap prices in Mexico were stable or down in the week ended Friday August 6, with some buyers succeeding in applying price cuts for obsolete grades.In Mexico's central Baj?-o region, at least two buyers were announcing a price reduction of 200 pesos ($10) on all grades.While price decreases were possible for obsolete grades, market participants did not see  one for No1 busheling."The...Read More

Turkish steel mills booked no new cargoes on Tuesday August 10, keeping prices stable, but older cargoes have been reported, sources told Fastmarkets.Despite a lack of new bookings on Tuesday, cargoes booked the previous week were reported by the market.A United Kingdom booking comprised of 25,000 tonnes of HMS 1&2 (80:20) at $460 per tonne cfr was traded late in the week to August 6....Read More

Russia's Metalloinvest is investing 2 billion roubles ($27.18 million) in increasing iron ore pellet output at its Oskol Electrometallurgical Plant (OEMK) in Russia's Central Federal District. The company will reconstruct its pelletizing plant at OEMK, replacing the existing equipment and adding a sixth pelletizing line. It expects the work to be complete in the fourth quarter of 2022.The changes...Read More

Iron ore prices fell significantly on Tuesday August 10 due to continuing weak demand, with production cuts and pollution-control measures in China's Tangshan city, in preparation for February's 2022 Winter Olympics, further depressing market sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.44 per tonne, down $10.07 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.75 per...Read More

Seaborne coking coal prices in China rose on Tuesday August 10, reflecting the strength in domestic coking coal prices where supply remains tight.The fob coking coal market stayed largely stable on the same day because major buyers adopted a wait-and-see approach in light of high offers, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $333.75 per tonne, up by $4.16 p...Read More

Vietnamese steelmakers are planning to return to importing deep sea cargoes after limited recent buying activity in the country, sources told Fastmarkets on Tuesday August 10. Vietnamese buyers are looking closely at deep-sea cargoesMajor Chinese steel mills lower domestic scrap purchase prices for the second time in five daysTaiwan secures containerized scrap at lower pricesVietnamBuyers are seek...Read More

China's customs will no longer accept port transfer applications during inspections of imported recycled steel raw materials, according to an official statement on Monday August 9.The recently implemented "Regulations for the Inspection of Imported Recycled Steel Raw Materials" details the inspection requirements for imported recycled steel raw materials.It specifies the place of inspection for th...Read More