Netherlands-based aluminium producer Aldel has signed a partnership with solar park operator Ecorus to help accelerate the development of solar power infrastructure in the region, the producer announced on Tuesday June 23.Ecorus is developing a solar power park on a site near to Aldel's smelter at Delfzijl, and the partnership will allow it to feed the entire peak output of 4.5MW from the site int...Read More
(IDEX Online) - Diamond factories in Surat should close for a week to combat a spike in COVID-19 cases, say industry bodies.Three units have been forcibly closed after workers were diagnosed with the virus and 10 others have suspended work voluntarily.The Gems & Jewellery Export Promotion Council (GJEPC) and the South Gujarat Chamber of Commerce and Industry (SGCCI) have jointly appealed for a...Read More
Crude steel production in Germany fell by 27% year-on-year in May 2020, following a 24% drop in April due to output adjustments made by mills to address the Covid-19-driven deterioration in steel demand, German steel federation WV Stahl said on Wednesday June 24.Germany's mills produced 2.56 million tonnes of crude steel in May, down from 3.51 million tonnes in the corresponding period of 2019, WV...Read More
Steel billet producers from the Commonwealth of Independent States (CIS) reduced their offers early this week on a lack of demand in Asia as well as in nearer markets, Fastmarkets learned.Offers from several Russian mills were heard at $370-375 per tonne fob Black Sea earlier this week against $380-385 per tonne fob last week.One source said a Ukraine-based producer offered material to customers i...Read More
Domestic prices for heavy steel plate in Northern Europe have moved down over the past week due to limited demand, sources told Fastmarkets on Wednesday June 24.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?450-470 ($508-531) per tonne on June 24, down by ?,?20 per tonne week on week from ?,?470-490 per tonne. The assessment was based on deals,...Read More
Domestic prices for steel mesh-quality wire rod in Europe were broadly stable in most regions over the past week, although Italian producers managed to secure slight increases, sources told Fastmarkets on Wednesday June 24.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?420-440 ($475-497) per tonne on Wednesday June 24, stable...Read More
The price of steel hollow sections in Europe continued to move downward on Wednesday June 24 with the market remaining weak, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?535-550 ($604-621) per tonne on Wednesday, down from ?,?540-560 per tonne tonne a week earlier."Prices are slightly lower but demand is pickin...Read More
Broader markets were consolidating this morning, Wednesday June 24, underpinned by better economic data, but conversely held back by concerns about how the spread of the Covid-19 is accelerating in some regions; the spread in some mining countries is now a potential threat to supply.* Tuesday’s flash June purchasing managers’ index (PMI) data shows the global economy is recovering at a b...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe events were Monday's A$70 million takeover of Cassini, OZ's 30% partner in the proposed $995 million West Musgrave nickel-copper project, and Tuesday's release of the prefeasibility study in to aRead More
The Materials Services trading arm of German diversified industrial group Thyssenkrupp, has teamed up with Munich-based Mantro to form a 50/50 steel scrap joint venture, MT Industry Recycling.The newly formed JV aims to collect waste products direct from metal processing companies, a spokesperson told Fastmarkets."The idea is to be actively looking for existing partners to do so together...Read More
Rupert Resources on a Roll at IkkariSPONSOREDCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe Vancouver-based company reported drill results received from March through early June that were focused on priority target areas within...Read More
Export prices for Japanese steel scrap fell heavily over the past week with exporters reducing rates to stimulate fresh bookings, market sources told Fastmarkets on Wednesday June 24.Asian buyers shunned Japanese scrap offers last week, citing the fact that prices were too high, and instead concentrated on booking material from other sources such as the United States West Coast.Fastmarkets' price...Read More
The Turkish deep-sea scrap import market remained quiet on Wednesday June 24, with mills continuing to push for lower prices due to weakening finished long steel demand, sources told Fastmarkets.Seel producers in the country have been staying away from deep-sea scrap purchases since the beginning of last week, when demand for rebar, especially in the local market, started to weaken.Prices for...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade.Shopify added $1.54 to $912.88 after KeyBanc Capital raised its target price from US$805 to U$1,000.Aurora Cannabis added $0.03 to $13.67 after Stifel Nicolaus raised its target price from Cdn$6.20 to Cdn$17.50. Constellation Brands added $0.54 to $181.00 after Deutsche Bank raised its t...Read More
The seaborne premium hard coking coal price in the China cfr market leapt by 3.4% day on day on Wednesday June 24 due to deals agreed at higher prices, while demand for seaborne coking coal in Japan is increasing gradually, market participants told Fastmarkets. Fastmarkets indices Premium hard coking coal, fob DBCT: $113.79 per tonne, up $0.86 per tonne Premium hard coking coal, cfr Jingtang: $122...Read More
Seaborne iron ore prices rebounded on Wednesday June 24 amid active trading ahead of the Chinese Dragon Boat Festival holidays from June 25-27.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $103.34 per tonne, up $2.72 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $106.49 per tonne, up $2.27 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $92.84 per tonne, up $1.56 per tonne....Read More
Fastmarkets' daily and weekly prices for steelmaking raw materials and billet in Asia will not published on Friday July 10 due to the Singapore general election, which falls on that day. The weekly prices will be published on July 9 instead.The following daily prices will not be published:Iron ore 58% Fe fines high-grade premium index, cfr Qingdao, $/tonne Iron ore 58% Fe fines high-grade premium,...Read More
Spot lead demand in Southeast Asia is still lackluster despite lockdown easing across Vietnam, Malaysia and Indonesia, while interest in spot zinc units was minimal in all regions, which left premiums unchanged in the week to Tuesday June 23. A backlog of uncleared lead cargoes sit in Indian ports in the fourth week of June, a time that typically would have been a peak production period for batter...Read More
Domestic and export prices for Chinese stainless cold-rolled coil decreased slightly over the past week, with sellers maintaining their efforts to draw down their stock levels.Falling nickel prices also weighed on the stainless steel market.The three-month nickel contract on the London Metal Exchange ended Wednesday June 23's official trading session at $12,592 per tonne, down by $382 per tonne fr...Read More
China's hot-rolled coil prices weakened in the domestic market on Wednesday June 24 ahead of the three-day Dragon Boat Festival holiday from June 25-27, while importers started to worry about the delivery of goods from India after the border clash between the two countries last week.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($526-531) per tonne, narrowing downward by 10 yuan per tonneSell...Read More