RAPAPORT... The developer of a new jewelry retail complex in Miami has secured a $23.6 million loan, enabling it to move forward with the project.The funds from City National Bank of Florida will go toward completing phase one of the Time Century Jewelry Center program. This consists of constructing the building's retail and wholesale space, which spans the basement, ground, mezzanine and sec...Read More

The domestic hot-rolled coil price in Northern Europe remained fairly stable on Monday February 22, supported by low availability and strong demand.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?725.00 ($878.51) per tonne on Monday February 22, up by ?,?1.25 per tonne from ?,?723.75 per tonne on February 19.The index was also up by ?,?6.87 per to...Read More

Slab producers from the Commonwealth of Independent States (CIS) increased their offers to foreign customers due to the positive trend in the finished flat steel products and raw materials markets, with a return of demand in some of the key outlets supporting an uptick in slab prices also, sources said.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $650-660 per...Read More

The domestic market for flat steel in Russia's Central Federal District around Moscow was subdued during the week to Monday February 22, with poor weather conditions affecting deliveries and new offers expected later this week, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel hot-rolled (HR) sheet, domestic, cpt Moscow, Russia was unchanged week on week at 62,000-64,000 rou...Read More

Buying activity in the domestic steel rebar market in Russia's Central Federal District around Moscow was close to nil in the week to Monday February 22, due to bad weather conditions, Fastmarkets has heard.Official offer prices from major suppliers to the region were unchanged, but sources were expecting a downward correction soon.Snowstorms in the region over the assessment week put construction...Read More

Crude steel production in Italy inched higher year on year in January, while output in the long-steel sector registered a larger increase than that of the flat-steel sector, Italian steel association Federacciai said on Friday February 19. Italian crude steel production totaled 1.89 million tonnes in January, up by 0.7% from 1.88 million tonnes in the corresponding month last year. Long steel outp...Read More

China's hot-rolled prices coil prices rallied on Monday February 22 after dipping last Friday in tandem with overall gains in the industrial commodities sector amid concerns over inflation in the global market. DomesticEastern China (Shanghai): 4,850-4,870 yuan ($748-751) per tonne, up 150-170 yuan per tonneSeveral traders in Shanghai said that while trading activity in the spot market was weak, s...Read More

Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliHudbay had $1.1 billion of debt at the end of 2020 and $439 million in cash. In September, 2020, Hudbay completed an issuance of $600 million of 6.Read More

Azure's Western Australia nickel success could get golden hueSPONSOREDazure mineralsAuteco has the right ingredients with PickleSPONSOREDauteco mineralsHot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliEnvironmental and social governance (ESG) is critical to the success of miningSPONSOREDonyen corporationHowever it flagged an issue at Pampacancha in Peru, where new COVID-19...Read More

Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliThe project was 40% complete at the end of 2020 with initial production expected in the second semester of 2022, although the company cautioned that was "dependent on our continued ability toRead More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up significantly across the board this morning, Monday February 22, with all base metals on the LME setting fresh multi- month or year highs.Relief that vaccine programmes are being rolled out across many countries to underpin economic recovery, along with the knowledge that past and future stimulus packages will be...Read More

Liberty Steel, part of the GFG Alliance, has signed a memorandum of understanding (MoU) with plant builder Paul Wurth and holding company Stahl-Holding-Saar (SHS) to develop a hydrogen-based steelmaking plant at its site in Dunkirk, France, the company said on Monday February 22.Paul Wurth is part of equipment provider SMS Group and has a partnership with hydrogen technology provider Sunfire, whil...Read More

Turkish steel scrap prices continued to rise on news of another cargo from the US on Monday February 22, which also led to a knock-on increase in finished steel and billet prices, sources told Fastmarkets. A steel producer in the northern Turkey booked a US cargo, comprising shredded at $440 per tonne and bonus at $445 per tonne cfr on Saturday February 20. The cargo composition has not yet been s...Read More

Regeneron (REGN), a NASDAQ 100 stock moved below $467.00 extending an intermediate downtrend.Healthcare SPDRs (XLV) moved below $114.10 completing a double top pattern.Brazil iShares (EWZ) moved below $34.06 extending an intermediate downtrend.Bank of America (BAC), an S&P 100 stock moved above $34.37 extending an intermediate uptrend. General Electric (GE), an S&P 100 company moved above...Read More

Turkish domestic ship scrap prices have increased over the past week amid increasing imported scrap values, market participants told Fastmarkets on Monday February 22.A deep-sea transaction done late on Wednesday February 17 - where a steel mill in the Marmara region booked a US cargo comprising 25,000 tonnes of HMS 1&2 (80:20) at $418 per tonne cfr - raised the daily scrap indices by more than...Read More

Export pig iron prices from the south of Brazil went up during the week to Friday February 19 on bullish supplier sentiment after they reported full order books, sources said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $480-500 per tonne on Friday, up from $470 per tonne a week before. Suppliers from the south of Brazil were heard to be rejecting bids a...Read More

Seaborne premium hard coking coal prices in the fob and cfr markets diverged on Monday February 22 with new transactions heard, Fastmarkets was told.Fastmarkets indicesPremium hard coking coal, fob DBCT: $137.05 per tonne, down $4.08 per tonnePremium hard coking coal, cfr Jingtang: $223.39 per tonne, up $5.91 per tonneHard coking coal, fob DBCT: $130.07 per tonne, down $4 per tonneHard coking coal...Read More

Iron ore prices increased on Monday February 22 on support from an increase in steel prices, although emissions restrictions in Tangshan area are likely to restrict operations, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $175.96 per tonne, up $2.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $175.98 per tonne, up $1.98 per tonne58% Fe fines high-grade premi...Read More

China allowed five cargoes of Australian coking coal to be unloaded last week after a wait of several months, industry sources told Fastmarkets on Monday February 22.Of these cargoes, four were unloaded in Jingtang port and one in Caofeidian port.The vessels had been waiting at anchorage along Jingtang port and Caofeidian port in Hebei province, China, for months, the sources said.It remains uncle...Read More

China's domestic rebar prices moved up sharply on Monday February 22 amid a return of end users in the market, which raised demand and made market participants bullish.DomesticEastern China (Shanghai): 4,600-4,640 yuan ($709-715) per tonne, up by 130-140 per tonne More end users returned to the market from their Chinese New Year break during the day, which strengthened demand for rebar significant...Read More