Finnish metal processing technology provider Outotec forecasts growth in demand for many metals, with sentiment in both the mining and metals industries expected to improve in 2018."In 2018, our target is to grow our sales as well as improve profitability. Together with improved market sentiment, global [trends] - such as resource efficiency, sustainability and digitization - provide us with good...Read More

Deliverable zinc stocks at Shanghai Futures Exchange-approved warehouses increased 13,216 tonnes or 16.2% week on week to 94,769 tonnes as of Friday February 2. Metal Bulletin last assessed Shanghai-bonded zinc stocks at around 203,000-205,000 tonnes at the end of January, up 29.5% from 155,000-160,000 tonnes on January 3 and 92.5% compared to January 2017.  Stock levels have predominantly be...Read More

Comex copper prices softened to a one-week low amid a rising dollar, which was sparked by a strong US jobs report.Copper for March settlement on the Comex division of the New York Mercantile Exchange fell 3.40 cents or 1.1% to $3.1640 per lb. "We continue to like copper as global concerted growth is likely to support the red metal enough to maintain its bullish uptrend," Metal Bulletin analys...Read More

Major Russian steelmaker Severstal expects further steel demand growth in the country, but prices are likely to decrease due to a downward trend in raw material markets."In 2017 Russian steel demand increased 5% and is expected to be 3-4% higher in 2018, supported by [gross domestic product] growth and gradual economic recovery," chief executive officer Alexander Shevelev said. Another driver for...Read More

Export prices of Brazil-origin slab remained unchanged this week, but market participants disagree on which direction prices will take in the next weeks. Metal Bulletin's weekly assessment of Brazilian export slab once again remained at $530-540 per tonne fob on Friday February 2, unchanged from the previous week. Market players are waiting for offers to resume in the next weeks, because most Marc...Read More

Swedish steelmaker SSAB, iron ore pellet producer LKAB and power company Vattenfall have formed a joint venture company to develop a fossil-free steel initiative named Hybrit, the companies said on Thursday February 1.The three companies will each own one-third of the project, which will seek to develop a steelmaking process that is less harmful to the environment.Last spring, SSAB, LKAB and Vatte...Read More

Turkey exported 4.18 million tonnes of flat steel products in 2017, an increase of 40.22% compared with 2016's 2.98 million tonnes, according to the Turkish Statistical Institute (TUIK).Competitive pricing and strong demand in Europe and North Africa were the major factors behind the rise, market commentators said.Demand for Turkish coated coil, especially hot-dipped galvanized coil (HDG), increas...Read More

Some flat steel prices in Turkey's domestic market fell slightly this week, while import prices were mostly stable, market participants told Metal Bulletin on Friday February 2.Local producers are accepting orders for April, but demand was not strong this week because buyers expected prices to come down. Besides, retail prices are still lower than producer prices, sources said.Domestic pricesHot-r...Read More

Indian local secondary billet prices this week showed a slight fall of about 200 rupees per tonne week-on-week, with buyers staying away from the market and the number of inquiries to mills dwindling.Prices for Indian domestic secondary billet, which is mainly produced through the induction furnace route, ended the week at 31,800-32,000 rupees ($497-501) per tonne ex-mill on Friday February 2. Thi...Read More

The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday February 2:Noble alloys Molybdenum Europe drummed molybdic oxide, $/lb: $11.60-12.00 per lb from $11.80-12.00 Molybdenum US canned molybdic oxide, $/Ib $11.90-12.20 per Ib from $12.15-12.30 Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.70-30.00 per kg from $29.50-30.00 Ferro-molybdenum U...Read More

Metal Bulletin has today discontinued five grades of zircon.After a consultation period, Metal Bulletin has today suspended the following five grades of zircon, effective February 2, 2018: Zircon, ceramic grade, bulk, CIF South Africa, $/tonneZircon, Ceramic grade, Bulk, FOB South Africa, $/tonneZircon, premium grade, bulk, FOB USA, $/tonneZircon, standard grade, bulk, FOB USA, $/tonneZircon stand...Read More

Glencore continues to expect a slight increase in its ferro-chrome output this year after a small rise last year, it said in its full-year production report on Thursday February 1.The company kept its production guidance for 2018 unchanged at 1,600,000 tonnes plus or minus 30,000 tonnes, it said. Its ferro-chrome production for 2017 at 1,531,000 tonnes was up 1% on the previous year's 1,523,000 to...Read More

Finnish metal processing technology provider Outotec is to provide two iron ore pelletizing plants, each with capacity for 4 million tonnes per year, to China's Shougang Jingtang United Iron & Steel, it said on Friday February 2.The two pelletizing plants are expected to be commissioned in 2019, and will...Read More

Archaeologists near Stewart, BC have discovered what is believed to be the missing front cover of the Brucejack Feasibility study.Thank you Grant NaylorIf genuine it belongs at the beginning and is believed to have read "To my darling Daniela. All figures portrayed within this report are fictitious and any resemblance to the truth is purely coincidental"**Just my warped sense (lack) of humor.Why d...Read More

Earnings at Chilean steel and iron ore producer Compa???-a de Acero del Pac?-fico (CAP) increased by 30.10% in 2017, compared with the previous year, mainly due to better results from its iron ore business.Earnings before interest, taxes, depreciation and amortization (Ebitda) came to $575.96 million last year, compared with $442.64 million in 2016, the company said in a note to the Chilean securi...Read More

Global miner Rio Tinto (ASX, LON:RIO) is said to be once again chasing a $5bn stake in Chile's Chemical and Mining Society (SQM), the world's largest lithium producer, following the resolution of a long-dragged dispute between the company and the country's government over royalties in Salar de Atacama.The deal between SQM and Chile's development agency Corfo, reached last month, freed the lit...Read More

Shares in Africa-focused Gem Diamonds (LON:GEMD) got a fresh boost on Friday after the miner said sales in the fourth quarter of 2017 were higher than in the previous three months, adding it also achieved better prices for its gems.The company, which last month found the world's fifth-biggest diamond in history at its flagship Let??eng mine in Lesotho, sold 31,476 carats during the three month...Read More

India's imported scrap markets have been supported by healthy demand for finished steel in the country this week, which prevented there being steeper losses in the scrap price, sources have told Metal Bulletin.Prices for ferrous scrap in the important Turkish market have decreased by $9.70 per tonne week-on-week, but Indian import markets managed to limit their losses to less than $5 per tonne.Met...Read More

Precious metal miner Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) said Friday all the workers that were trapped since Wednesday night at its Beatrix gold mine in South Africa have been rescued.Nearly 1,000 miners got stuck underground for more than 24 hours after a storm knocked out power lines supplying electricity to Beatrix. Emergency power supply from backup generators enabled 64 employees to ret...Read More

Demand growth in the coking coal market should be firm throughout 2018 after last year's market volatility due to Cyclone Debbie and shipment delays, SP Angel analyst John Meyer told Metal Bulletin in an interview. Meyer took first place with fellow analyst Sergey Raevskiy in the coking coal leader board for the Apex 2017 competition. He notes that 2017 saw record iron production in China, 2.9% hi...Read More