United States President Joe Biden signed an executive order on Wednesday February 24 intended to secure his nation's supply chains through a review of critical products, which will include computer chips and batteries.The order directs US federal departments and agencies to identify ways to secure supply chains against a range of risks and vulnerabilities, and ultimately to avoid shortages of crit...Read More
Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliThe well-supported company recently expanded its drill programme to 15,000m given the quality of initial results.The project has a measured and indicated 1.1 billion pounds of copper, 1.1 million ounces of gold, 104Mlb molybdenum and 20Moz of silver at three deposits.Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot...Read More
Auteco has the right ingredients with PickleSPONSOREDauteco mineralsAzure's Western Australia nickel success could get golden hueSPONSOREDazure mineralsHot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliMegatrends 2035: How expansion of megacities will impact demand for commodities?EUR
North Star BlueScope's expansion of its electric-arc furnace (EAF) operations in Delta, Ohio, are proceeding as scheduled and should come online by the end of the first half of 2022, parent company BlueScope Steel said."Right now, I can't get the North Star project done quick enough, quite frankly, and the team out there are running at 1,000 miles an hour to bring it to market," BlueScope Ste...Read More
Dubai's Conares Steel has cut its rebar price to 2,530 dirhams ($689) per tonne ex-works, down from the previous 2,590 dirhams per tonne ex-works, chief executive Bharat Bhatia told Fastmarkets on Thursday, February 25.The UAE steelmaker's announcement follow's Wednesday's price cut by the region's biggest steel producer Emirates Steel, which dropped its rebar price by 91 dirhams to 2,535 dirhams....Read More
Prices for export billet from the Commonwealth of Independent States (CIS) continued trending upward at the end of the week on support from surging scrap costs, sources said on February 25.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $448.1 per tonne on Thursday, up by $6.67 per tonne day on day and $34.47 per tonne week on week.H...Read More
Steel billet offer prices to Egypt increased sharply this week, despite a complete lack of buying activity, sources told Fastmarkets on Thursday, February 25.Sources said the main reason for the higher offer prices was growing demand for billet from the Commonwealth of Independent States.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $566 per tonne on February 24, rising fr...Read More
Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.* US Federal Reserve Chairman Jerome Powell told Congress that it might take three years to reach the central bank’s inflation targets* Asian-Pacific equities were up strongly on Powell’s commentsBase metalsT...Read More
Turkish steelmakers have continued their deep-sea scrap purchasing despite rising prices, supported by strong rebar and billet sales, market sources said on Thursday February 25.A steel mill in the Iskenderun region booked a US cargo, comprising 11,000 tonnes of HMS 1&2 (80:20) at $454 per tonne along with 16,000 tonnes of shredded and 3,000 tonnes of bonus at $464 per tonne cfr.The same mill also...Read More
Brazilian steel scrap consumption is expected to grow in 2021 after scrap generation increased and began to meet a jump in demand from mills in the second half of 2020, the country's ferrous scrap association, Inesfa, said.Inesfa calculated scrap consumption at 8 million tonnes in 2020, up from 7.79 million tonnes in 2019, with the current environment signalling a rise this year, it said.That said...Read More
The seaborne premium low-volatility hard coking coal fob price slumped dramatically on Thursday February 25, with the latest transaction sealed at $126 per tonne fob Australia. Fastmarkets indicesPremium hard coking coal, fob DBCT: $127 per tonne, down $11.93 per tonnePremium hard coking coal, cfr Jingtang: $219.04 per tonne, unchangedHard coking coal, fob DBCT: $130.07 per tonne, up $0.50 per ton...Read More
Iron ore prices mostly increased on Thursday February 25, supported by healthy mill margins and expectations of a steady rise in demand for steel, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.24 per tonne, up $1.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.70 per tonne, up $1.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.06 per t...Read More
Import prices for high-grade steel scrap into the key Chinese market surged on Thursday February 25 due to increasingly bullish sentiment in the domestic scrap markets and jumps in international ferrous scrap prices.Sources said that Chinese steel mills are now able to purchase at $480-485 per tonne cfr China for high-grade Japanese HS materials after negotiation, while sellers have hiked offers t...Read More
Aluminium crossed the $2,200-per-tonne mark and copper continued to extend its bullish rally on the London Metal Exchange during morning trading on Thursday February 25, with a softer US Dollar Index supporting higher prices in the complex.Aluminium's three-month price was up by 1.85% to $2,225 per tonne at 9am this morning, after a 1.7% gain on Wednesday at the close, which saw the metal rise to...Read More
China's domestic rebar prices moved up on Thursday February 25 on rising futures though demand was weaker due to adverse weather. DomesticEastern China (Shanghai): 4,620-4,650 yuan ($716-721) per tonne, up by 20-30 yuan per tonneRebar futures rose during the day on market participants' bullish outlook for demand in spring. Spot rebar prices followed suit.But bad weather is currently putting pressu...Read More
Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.US Federal Reserve Chairman Jerome Powell told Congress that it might take three years to reach the central bank's inflation targetsAsian-Pacific equities were up strongly on Powell's commentsBase metals The LME three-...Read More
China's domestic stainless steel prices rose surged to their highest in three-and-a-half years in the week to Wednesday February 24 amid a soaring nickel market and recovering demand.The three-month nickel contract on the London Metal Exchange ended Wednesday's official trading session at $19,402 per tonne, up by $1,547 per tonne - or 8.66% - from $17,855 per tonne on February 1.Fastmarkets' price...Read More
A summary of Finnish miner Terrafame's financial results for the fourth quarter and full year to December 31, 2020, published by the company on Thursday February 25. In brief The full-year earnings before interest, taxes, depreciation, and amortization (Ebitda) was ?,?23.8 million ($28.9 million), down from 2019's ?,?32 million. In the fourth quarter, however, the company's Ebitda was ?,?17....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 standard grade, in-whs Rotterdam, $/lb...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...Read More