Prices for rebar imports into Singapore increased further during the week to Monday March 8 on cost pressure from the upstream raw material markets, sources told Fastmarkets.Turkish steel mills hiked their offers continually over the past week to $680-690 per tonne cfr Singapore, refusing to budge on offers due to increasing ferrous scrap prices.Import scrap prices in Turkey continued to rise last...Read More
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China's hot-rolled coil prices rallied on Monday March 8, supported by gains in the futures market, while trading was moderate amid concerns of a possible export rebate cut.Domestic Eastern China (Shanghai): 4,950-4,980 yuan ($763-767) per tonne, up 150 yuan per tonne Several Shanghai-based traders said spot sellers raised offers in response to gains in the futures market. Market sentiment has imp...Read More
Vietnamese buyers of imported hot-rolled coil are choosing to purchase Indian cargoes to avoid risk-sharing clauses written into contracts for Chinese HRC, market sources told Fastmarkets. Fastmarkets' weekly price assessment for steel HRC, import, cfr Vietnam, which mainly looks at 2-3mm rerolling-grade SAE1006 HRC and equivalent products, was $735-740 per tonne on Friday March 5, up by $20 per t...Read More
Dow Jones Transportation Average and its related ETF: IYT moved to all-time highs in early trade. U.S. insurance iShares (IAK) moved above $73.88 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Monday March 8thU.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. The U.S. Dollar Index continued to strengthen...Read More
Turkish domestic steel scrap prices continued their upward movement over the past week, thanks to rising imported scrap costs and the weakening lira, sources told Fastmarkets on Monday March 8.Turkish steel mills continued their deep-sea scrap purchases for April shipment at the end of last week, with support coming from finished steel sales in the global markets.Fastmarkets' daily index for steel...Read More
Seaborne premium hard coking coal prices edged down on Monday March 8, amid limited buying interest, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $121.53 per tonne, down $1.46 per tonnePremium hard coking coal, cfr Jingtang: $213.95 per tonne, down $0.56 per tonneHard coking coal, fob DBCT: $116.66 per tonne, unchangedHard coking coal, cfr Jingtang: $202.79 per t...Read More
Iron ore prices were largely rangebound on Monday March 8 after fresh restrictions were announced for the steelmaking hub of Tangshan on Sunday evening, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.34 per tonne, up $0.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.63 per tonne, down $0.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $162....Read More
Oxide material category shows major improvement (10% to 60%) in copper recovery and a 27% improvement in gold recoveryCompany expects improved recoveries will have meaningful positive impact on the project's economic projectionsCHEYENNE, Wyo., March 8, 2021 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the "Company"), a gold exploration and development company, is pleased to provide an update o...Read More
China's iron ore imports in January and February 2021 increased by 2.8% from 2020, data released on Monday March 8 from the General Administration of Customs of China shows.In the first two months of 2021, China's imports of iron ore totalled 181.51 million tonnes, up by 2.8% year on year from 176.6 million tonnes in 2020, customs data showed.The increase in iron ore imports...Read More
The Singapore Exchange's (SGX) 65% Fe iron ore derivatives registered another strong month in February, with 2.98 million tonnes worth of contracts being traded during the month, according to data from the exchange.While these are about half of the 6.64 million tonnes traded in January, they are higher than the 2.67 million tonnes recorded for in December and 2.26 million tonnes in November.The sl...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...Read More
A sharp increase in cobalt prices, coupled with a clearer medium-term demand outlook for the market, has given sellers the upper hand in metal contract discussions - a distinct change since the start of the year - according to sources that spoke to Fastmarkets.The demand picture has been brightened by strong demand from the electric vehicle (EV) market, complemented by the consumer electronics sec...Read More
Cobalt hydroxide suppliers and buyers are in a stalemate after the cobalt futures price on the Wuxi Stainless Steel Exchange tumbled late last week. Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China was flat week on week at 93-94% of standard-grade cobalt (low end) on Friday March 5. The indicator is assessed twice weekly on Wednesdays and Fridays. Risk-...Read More
Key data from Fastmarkets' pricing session in China on Friday March 5.Key drivers Domestic producers raised their offers amid continued demand from traders and consumers. Producer sources said they were cautious about selling the limited amount of stock they have on hand because they have not produced any...Read More
Key data from Fastmarkets' pricing session in China on Friday March 5.Key drivers China's cobalt metal price fell further this past week following sharp declines in local futures prices and weak sentiment in the domestic market; most buyers preferred to buy cheap off-grade material. The Chinese...Read More
The Indian silico-manganese export market should cement recent price gains that have pushed up the high end of the range to a level last seen in April 2018 on firm domestic fundamentals that are influencing exporter offer prices, industry sources told Fastmarkets. Indian trade sources said firm domestic demand has encouraged higher export offer prices to customers in Southeast Asia, the Middle Eas...Read More
Osisko Metals (TSXV:OM) has reported assays for the first four holes drilled as part of an infill and hydrogeological program at the past-producing Pine Point zinc-lead project in the Northwest Territories, 60 km from Hay River. These drillholes targeted the R190 deposit in the West zone at Pine Point, which hosts higher-grade vertical prismatic deposits.Three of the holes were infill and the four...Read More
Rio Tinto (NYSE: RIO; LSE: RIO) is investing $2.9 million in a new plant at its Kennecott copper mine in Utah to recover tellurium, a critical mineral used to make solar panels.The plant will recover tellurium from waste already being produced as a result of the copper smelting process. It will have capacity to produce roughly 20 tonnes of tellurium per year, with production beginning in the fourt...Read More