Ferrous scrap export prices rose on a fresh bulk cargo sold from the US East Coast to Turkey, steadying export yard buying prices and containerized shredded scrap prices while West Coast export prices face downward pressure from a slowdown in Asian demand. After a three-week lull, a Turkish steelmaker booked an East Coast cargo on Tuesday October 23 at $331 per tonne cfr for 33,000 tonnes of No1 a...Read More
A Turkish steel producer booked a US deep-sea cargo earlier this week, bringing prices down on Wednesday October 24, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 33,000 tonnes of HMS 1&2 (80:20) at $331 per tonne, 5,000 tonnes of shredded at $336 per tonne and 2,000 tonnes of bonus grade at $341 per tonne cfr.This cargo was sold...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at $80 per tonne cfr China, laycan November 26-December 5.Corex, 170,000 tonnes of 62% Fe Pilbara Blend fines, sold at the Nove...Read More
Limited availability pushed iron ore prices up on Wednesday October 24 amid a bullish futures market.MB 62% Fe Iron Ore Index: $74.73 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.76 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80 per tonne cfr Qingdao, up by $1.30 per tonne.MB 58% Fe Premium Index: $67.77 per tonne cfr...Read More
Trading activity in the seaborne coking coal market was muted on Wednesday October 24, with buyers biding their time to gauge the direction of prices.A cargo of premium hard coking coal was offered at around $216 per tonne fob Australia, sources said during the day. There was no word of a transaction being concluded by the cut-off time for Fastmarkets' data collection for its indices.A buyer sourc...Read More
South Korea continued to purchase heavy melting scrap this week on stable demand from a major steel mill.A 20,000-tonne cargo of HMS 1&2 (80:20) quality from New Zealand was transacted at $354 per tonne cfr South Korea this week, market sources said.Demand from South Korea has been regular in recent weeks, with South Korean steel mills entering the spot market again after bellwether Turkish import...Read More
Taiwan's ferrous scrap imports dropped by 14% on the year in August, according to the territory's customs agency.The island imported 245,579 tonnes of ferrous scrap during the month, 38,931 tonnes lower than the 284,510 tonnes it took in a year...Read More
China's ferrous futures advanced across the board during morning trading on Wednesday October 24 amid relatively positive sentiment in the physical market.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,187 yuan ($603) per tonne, up 40 yuan per tonneJanuary hot rolled coil: 3,909 yuan per tonne, up 25 yuan per tonneDalian Commodity Exchange January iron ore: 528...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 24.Base metals prices on the London Metal Exchange were predominantly higher during morning trading, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals price...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 24 *Copper -$127.83 (-889.00 yuan) Aluminium -$430.54 (-2,994.08 yuan) Zinc -$117.26 (-815.44 yuan) Nickel $395.84 (2,752.80 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Wednesday October 24, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals prices earlier in the week, investor confidence was lifted on Wednesday morning wit...Read More
Antofagasta's copper production jumped by 15.4% in the July-September quarter, the company said on Wednesday October 24. The Chilean miner's copper production was 188,300 tonnes during July-September quarter, up by 15.4% from the April-June quarter. Copper output in the first nine months totaled 505,500 tonnes, down 4% from the corresponding period in 2017, mainly due to lower...Read More
The underlying theme remains unchanged with the base metals prices continuing to oscillate within sideways trends, although some prices, such as tin and zinc, are starting to edge higher. Sentiment in China has improved after Chinese officials have taken steps to ease credit tightness in the private sector by helping companies raise money in the capital markets.After a down day on Tuesday October...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 24:Aluminium scrapGroup 1 pure 99% & litho: ?1,390-1,440 per tonne from ?1,400-1,450Commercial pure cuttings: ?1,100-1,150 per tonne from ?1,100-1,160Loose old rolled cuttings: ?790-820 per...Read More
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Subscribe to our channel! rupt.ly/subscribeSupporters gather outside a London court as English Defence League (EDL) founder Tommy Robinson faces a re-trial on Tuesday, October 23.Robinson was arrested in May 2017 and sentenced to 10 months for contempt of court and three more months for breaching a previous suspended sentence. He was freed on bail after winning an appeal against the contempt of co...Read More
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While investing in gold stocks has pretty much been a losing proposition in the last five years and more, things are changing.The market is clearly more skittish, with major market indexes seeing big selling pressure.As I know you are well aware of, on October 9, the S&P/TSX Composite began a sell-off that spooked investors, leaving us wondering if this is the sell-off we have been waiting fo...Read More
#4 Zone Manto: flat-lying sulphide mantos in carbonates. Source: Sun Metals Corp.Sun Metals Corp. [SUNM-TSXV] shares rallied Thursday after the company released impressive drill results from its Stardust project in northcentral British Columbia.The company announced that drilling into a new extension of the Canyon Creek Skarn zone at the Stardust project has returned the thickest and richest miner...Read More