Import prices of flat-rolled steel in South America made no clear trend for the week while negotiations between sellers and buyers for March shipments intensified and put some markets under pressure ahead of the Chinese New Year break (January 24-30).Fastmarkets assessed the price for steel hot-rolled coil import, cfr main ports South America at $530-555 per tonne on Friday January 17, up from $52...Read More
Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), narrowed in response to improving demand in the week to Friday January 17, sources told Fastmarkets.Demand picked up after buyers returned from the year-end holidays, they said.Domestic pricesLocal producers were offering 0.5mm HDG at $640-670 per tonne ex-works, with deals h...Read More
Diamond miner Lucara Diamond has entered into a collaboration with famous luxury house Louis Vuitton and diamond manufacturer HB Company to manufacture its historic 1 758 ct Sewelô diamond that was recovered from Lucara’s Karowe diamond mine, in Botswana, in April last year.The purpose of the collaboration is the planning, cutting and polishing of a collection of diamonds from&nbs...Read More
Some flat steel prices fell in Turkey during the week ending Friday January 17, following weakening scrap prices. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey fell sharply by 5.2% to $280.70 per tonne on January 16, from $295.85 per tonne on January 15. Prior to this, the ferrous raw material price had been stable for five daily pricing ses...Read More
Salzgitter Mannesmann Staalhandel, the trading part of Germany's Salzgitter group, has acquired heavy plate specialist trading company Statendam Steel Plates, Salzgitter said on January 16.The acquisition of the Netherlands-based company is effective from December 31, 2019.Statendam Steel Plates supplies customers in the Netherlands in the construction, trading, boiler manufacturing, mechanical en...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Austenitic stainless steel scrap prices in Europe were largely stable this week on relatively stable nickel costs, Fastmarkets heard on Friday January 17.Fastmarkets' price assessment for stainless steel scrap 316 solids, domestic, delivered merchants UK, was ?1,170-1,200 ($1,528-1,567) per tonne on Friday, unchanged week-on-week.The corresponding...Read More
The price of ferrous scrap imported into India dropped this week after a sudden sharp fall on the international scrap market had a knock-on effect, sources have told Fastmarkets.Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, was $313.61 per tonne on Friday January 17, down from $317.35 per tonne on January 10.This was the first time the price had fallen sinc...Read More
The inter-merchant spot market for light iron scrap in the UK was up by ?5 ($6.53) per tonne in the week ended Friday January 17, tracking higher prices settled for monthly domestic deliveries to British consumers in January while steady export demand buoyed the country's scrap markets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesCase study: platform financeSPONSOREDminexiaThe company spent US$624 million on exploration in 2019, up from $488 million in 2018.Read More
The Turkish deep-sea scrap markets were quiet at the end of the week, as market participants digested the latest sale, which sent prices down by $13 per tonne, sources said on Friday January 17.Late on Wednesday, January 15, a steel mill in the Izmir region booked a US cargo of 35,000 tonnes of HMS 1&2 (95:5) at $295 per tonne cfr. This would put the HMS 1&2 (80:20) price at $288 per tonne, compar...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe Toronto-based company said overall production of 5.5 million ounces gold was close to the top-end of its annual guidance of 5.1-5.6Moz, with copper output of 432Mlb topping the high-end of guidance for 430Mlb.Barrick attributed its success in part to its 61.5% stake in the Nevada Gold Mines joint venture with Newmont, whic...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe Vancouver-based company said Thursday the project now had a net present value of C$1.3 billion (US$1 billion), which reflected a $500 million increase over the 2014 feasibility study."The leverage this mine has to metal prices is huge, and with only a 10% increase in these assumptions, the pre-tax NPV climbs to $2 billion," CEO...Read More
The pig iron export market in the Commonwealth of Independent States (CIS) remained firm on low material availability during the week ended Thursday January 16, although no sales were reported, sources told Fastmarkets. "Last week was really quiet and I see that all players took their time this week too in order to check where the market level is," one exporter said. "There is definitely no pressu...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesUnder the creditor agreement—which has the support of the Ministry of Mines and Energy—the Oroya assets will be transferred to a new company called Nueva La Oroya which will be owned by workers as labour creditors. This will take place before June 30.The Cobriza copper mine, which has capacity to produce 20,000 tonnes p...Read More
Iron ore Carajas (IOCJ) and Brazilian blended fines (BRBF) transactions took place at higher prices on Friday January 17, in anticipation of limited supplies of both brands in February-March, traders told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $97.58 per tonne, up $1.22 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $96.62 per tonne, up $1.22 per tonne.62%...Read More
Asia appears to be setting the trend in the global ferrous scrap market, with prices in Taiwan and Vietnam falling steadily since the start of the year before those in Turkey plunged toward the end of this week.VietnamFastmarkets' weekly price assessment for bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam was $290-295 per tonne cfr on Friday January 17, down by $5-10 per tonne from last F...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resources"Our business strategy has and continues to be focused on achieving near-term organic production growth, at first quartile production costs, while increasing the foundational long-term copper production base of the Curaca Valley through aggressive exploration and discovery," said president and CEO David Strang.Curaca Valley process...Read More
Seaborne coking coal prices inched down on Friday January 17 because some participants in China have begun their Lunar New Year break early while others were holding off to consider the impact of import restrictions at the country's ports, talks of which surfaced this week. Fastmarkets indices Premium hard coking coal, fob DBCT: $153.07 per tonne, down $2.19 per tonne Premium hard coking coal, cfr...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Equity index futures were virtually unchanged following release of December Housing Starts released at 8:30 AM EST. Consensus was unchanged from November at 1.365 million units. Actual was 1.608 million units.Gap Stores gained $1.19 to $19.80 after the company announced that it no longer...Read More