Steel rebar and billet prices in the United Arab Emirates increased this week because of higher offers and assessments, but market activity was yet to resume after the end-of-year period, sources said on Tuesday January 5. Domestic rebar The country's steel producers sold rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works the week before for orders to be produced in January and have clos...Read More
Flat steel prices in Turkey continued to increase in the week to Thursday December 31, but buying was weak because most buyers were busy with inventory calculations, sources told Fastmarkets.Additionally, hot-rolled coil (HRC) prices fell during the week in China because of weak trading, which created market concerns about whether global flat steel prices would follow, trading sources said.Fastmar...Read More
Turkey imported 616,408 tonnes of flat steel in November 2020, up by 12.2% from the corresponding month in 2019 when 549,549 tonnes arrived in the country, the Turkish Statistical Institute (TUIK) said last week. Orders for flat steel arriving in November were placed in August and September when there was moderate demand for the material in Turkey. There were several bookings reported fo...Read More
NetEase (NTES), a NASDAQ 100 stock moved above $98.18 resuming an intermediate uptrend. Rogers Communications (RCI), a TSX 60 stock moved above US $47.77 extending an intermediate uptrend. Pre-opening Comments for Tuesday January 5thU.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Investors are bracing for results from the two Geo...Read More
Strong gains were seen across the base metals on the London Metal Exchange at the start of the week and most of the metals in London and all the metals on the Shanghai Futures Exchange were up again this morning, Tuesday January 5.* Control of US Senate, with the run-off elections in Georgia, could be market-moving...* ...two democratic wins would strengthen President-elect Joe Biden’s hand a...Read More
Turkish steel mills remained quiet in the deep-sea scrap markets on the second working day of the week, while the market was generally slow during the new year holidays, sources said on Tuesday January 5.Market participants believed that the mills in Turkey would be out of the market until next week, when they are expected to start their purchases for February-March cargoes.Turkish steelmakers hav...Read More
Russia's government has done as was expected and has approved an increase in the export duty to be applied to ferrous scrap for the next six months.Approval of the decision to increase the duty was published in an official notice on the government's website on December 31, 2020.Consequently, the export duty on steel scrap exports from Russia will be 5%...Read More
The cfr premium hard coking coal price jumped again on Tuesday January 5 after two transactions were sealed at higher prices.The fob market, meanwhile, remained relatively quiet, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.74 per tonne, up $0.25 per tonnePremium hard coking coal, cfr Jingtang: $207.44 per tonne, up $4.27 per tonneHard co...Read More
Iron ore prices increased on Tuesday January 5, with active trading in the seaborne and port markets supported by record high prices in coke futures, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $167.86 per tonne, up $2.57 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.00 per tonne, up $2 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nbs...Read More
Brazil's iron ore exports increased by a third in December compared with a year earlier, according to statistics from the country's economy ministry.It shipped 33.17 million tonnes of the steelmaking raw material last month, compared with 24.99 million tonnes in December 2019.Strong demand for steel in in China has...Read More
China's hot-rolled coil exporters kept their offers high on Tuesday January 5 amid sustained gains in the domestic market.DomesticEastern China (Shanghai): 4,590-4,610 yuan ($710-713) per tonne, up 30-50 yuan per tonneSeveral Shanghai-based traders said sellers in the city raised their offers after Monday's active trading, but the move dampened demand in the spot market.One of the traders believes...Read More
China's domestic rebar prices stopped rising on Tuesday January 5 on expectations of a drop in demand. DomesticEastern China (Shanghai): 4,510-4,530 yuan ($697-700) per tonne, unchangedEnd-user demand for rebar is decreasing gradually due to falling temperatures, which halted the upward trend in the spot market, though futures edged up during the day. Restocking demand was absent from the market,...Read More
Strong gains were seen across the base metals on the London Metal Exchange at the start of the week and most of the metals in London and all the metals on the Shanghai Futures Exchange were up again this morning, Tuesday January 5. Control of US Senate, with the run-off elections in Georgia, could be market-moving......two democratic wins would strengthen President-elect Joe Biden's hand and that...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 Cobalt...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 assessed Cobalt alloy grade, in-whs Rotterdam,...Read More
China's finance ministry has reduced the subsidies for electric vehicles (EVs) for 2021 by 20%, a move most market participants say they had expected.The Chinese government body announced the the new EV subsidy policy for 2021 on December 31, 2020, which included a 20% reduction year on year as planned. Under the new policy for 2021, the subsidy for pure electric vehicles (PEVs) with a driving ran...Read More
Chinese battery materials producer GEM has signed a memorandum of understanding (MoU) with partners of its Indonesian joint venture to double its stake in the project, the company said on Monday January 4.The joint venture, QMB New Energy Materials, was established in January 2019 following investment by Tsingshan Group, GEM, Brunp Recycling, Indonesia Morowali Industrial Park (IMIP) and Hanw...Read More
Bardoc eyes long-term growth in prime goldfields locationSPONSOREDbardoc goldDrill results multiply value options in front of YandalSPONSOREDyandal resources'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineThe daily challenges of the pandemic on governments across...Read More
Only two weeks after the federal government blocked a takeover of struggling Nunavut gold miner TMAC Resources (TSX: TMR) by China's Shandong Gold Mining, TMAC has found itself in the arms of a Canadian white knight - Agnico Eagle Mines (TSX: AEM; NYSE: AEM).On Jan. 5, Agnico announced a friendly bid for TMAC of $2.20 per share - 45 ? per share higher than the $1.75 per share Shandong had offered....Read More
This week's episode features advisor Andrew Cheatle in discussion with Northern Miner group publisher Anthony Vaccaro at the Global Mining Symposium. Andrew explains how mining companies can practically contribute to their local communities and how good business principles can help the UN achieve its 17 Sustainable Development Goals for 2030.All this and more with host Adrian Pocobelli.Music Credi...Read More