We are surprised only that so many are surprised...19 Republican members of the United States Senate hoisted a truce flag... came to terms with their Democratic foes... and signed their names a $1.2 trillion "infrastructure" bill.Thus the 2,700-page Infrastructure Investment and Jobs Act is the "bipartisan" Infrastructure Investment and Jobs Act.How many horses were traded? How many backs were scr...Read More

The United States deep-sea ferrous scrap export market may have further to fall in the wake of lower global cargo sales concluded in recent days."It seems the US market to Turkey is near the bottom but has little more room to go down and Asia likewise," a buyer source in Asia said about the expected trajectory for upcoming deals.A lack of available scrap cargoes on the US East Coast has hampered d...Read More

Japanese steel scrap sellers have continued to pull back from export markets following the Obon holidays amid expectations of a price drop at this week's Kanto Tetsugen auction, sources told Fastmarkets on Wednesday August 18.Japanese scrap sellers "wait and see" ahead of auctionLower offers for scrap to China heard from South KoreaTaiwan secures containerized scrap at $440 per tonneIndian import...Read More

Iron ore prices fell on Wednesday August 18 amid growing concerns about supply outweighing demand and weaker steel prices, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $153.39 per tonne, down $7.36 per tonne62% Fe low-alumina fines, cfr Qingdao: $154.07 per tonne, down $7.58 per tonne58% Fe fines high-grade premium, cfr Qingdao: $123.48 per tonne, down $6.06 per tonne65% Fe...Read More

July imports of steel scrap to South Korea increased both on a month-on-month and year-on-year basis following another strong month in June, according to data from the Korea International Trade Association.Steel scrap imports were 462,729 tonnes in July, up 11.9% month on month from June's 413,567 tonnes and up by 49% year on year from 310,620 tonnes in July 2020.But a comparatively sluggish start...Read More

Seaborne coking coal prices rose sharply in the cfr China market on Wednesday August 18 due to stable procurement demand and supply tightness. The fob Australia market also inched up on the same day with more buying interest for premium low-volatility hard coking coal, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $225.48 per tonne, up by $3.06 per tonneHard cokin...Read More

Prices of hot-rolled coil in China's domestic market dropped to their lowest in about two weeks on Wednesday August 18 after market sentiment was subdued by dismal economic data released earlier in the week.DomesticEastern China (Shanghai): 5,690-5,710 yuan ($878-881) per tonne, down by 70-90 yuan per tonneThe HRC contract for January delivery has become the most-traded HRC contract on the Shangha...Read More

China's domestic rebar prices decreased on Wednesday August 18 amid sharp losses in the futures market and subdued restocking demand. DomesticEastern China (Shanghai): 5,140-5,170 yuan ($793-798) per tonne, down by 50 yuan per tonneRebar futures plunged during the day on market participants' pessimistic outlook for demand in the next few months. Housing investments in the first seven...Read More

Tight aluminum supplies and high logistics costs pushed the US Midwest premium to a record high in the week to Tuesday August 17 and kept Rotterdam premiums firm despite a spread backwardation on the LME - although that combined with slow demand to put downward pressure on Asian premiums.The United States Midwest market sets another record high on tight suppliesIn Europe, Rotterdam premiums remain...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday August 18.Key driversThe titanium alloy market narrowed higher in its price range in the reported week as higher-priced deals done for fourth quarter delivery strengthened spot market sentiment. Industry sources reported fourth quarter deals at $8.30 per kg basis ddp and expect renewed spot demand around the end of August and into S...Read More

An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...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...Read More

The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...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...Read More

The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More

Madagascan nickel and cobalt producer Ambatovy has signed a three-year deal with London-based Stratton Metals for the marketing of its cobalt briquettes production, a spokesperson for Stratton told Fastmarkets on Wednesday August 18.The agreement is for the sale of Ambatovy cobalt briquettes in Europe and the United States and is set to start on January 1, 2022, the source confirmed."Volumes will...Read More

Drilling in a new zone to the west of the Candelones Extension deposit has yielded a 16 metre intercept grading 10.78 grams gold per tonne, 68.9 grams silver per tonne, 0.24% copper, and 2.35% zinc starting from a depth of 336 meters in drillhole LP21-204, Unigold Inc. (TSXV: UGD; US-OTC: UGDIF) reports.The intercept was within a broader 97 metre interval averaging 2.52 grams gold, 12.1 grams silv...Read More

A six-week price rally in the UG2 chrome ore market since late June was reversed in the week to Tuesday August 17, mainly due to falling demand for material from both the seaborne and portside markets.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, nudged down by $2 per tonne to $182 per tonne on August 17, from $184 per tonne one week earlier...Read More

New Found Gold (TSXV: NFG; US-OTC: NFGFF) is to issue 4.4 million flow-through common shares of the company at a price of $11.39 each to fund exploration at its Queensway gold project in Newfoundland and its Lucky Strike project located in Ontario.The shares will be purchased by a syndicate of underwriters led by Canacccord Genuity and BMO Capital Markets, and will raise a total of $50 million. Th...Read More

Trevali Mining (TSX: TV; US-OTC: TREVF) has released a feasibility study for the expansion of its Rosh Pinah zinc-lead-silver mine in Namibia to 1.3 million tonnes per year from 700,000 tonnes per year.At an initial capital cost of US$111 million, the expansion will include modifications to the mill, a new paste fill plant, a water treatment plant, a new portal, decline and material to the WF3 de...Read More