The new bid price is $1,135 per short tonne
The American steel producer Nucor has once again raised its spot price (CSP) for hot-rolled coils by $5 per short tonne compared with the previous week. This is stated in a letter from the company to its customers dated 13 July.
The new offer price stands at $1,135/t.
The CSP for the joint venture California Steel Industries (CSI) has also risen by $5 per short tonne to $1,185/t.
From the end of January to 22 June this year, Nucor consistently announced increases in the spot price for hot-rolled coil, with increments of $5–15 per short tonne. From 22 June, the company took a three-week break, maintaining its offer at $1,130 per metric tonne.
Delivery times remain unchanged – between 3 and 5 weeks.
According to Steel Market Update, the average price for hot-rolled coils in the US stood at $1,160 per short tonne as of 7 July. SMU notes that some domestic market participants expect prices for this product to remain stable until the end of this year, as mills will not have significant spare capacity available to fulfil spot orders. Furthermore, the annual summer slump has not led to a sharp drop in demand – most steelmakers are forecasting a moderate seasonal slowdown.
It should be noted that the Chinese steel producer Baosteel is raising prices for hot-rolled steel for August sales. This move reflects expectations of a future improvement in demand. Demand for flat steel in the country’s processing sector has remained low due to weather conditions.
https://gmk.center/en/news/nucor-has-resumed-raising-prices-for-hot-rolled-coils/
Bulgaria has officially withdrawn from the so-called Coalition of the Willing supporting Ukraine’s defense, further distancing the Balkan nation from its European Union partners, Bloomberg reported on July 14.
The decision was announced by the country’s Prime Minister Rumen Radev, an outspoken critic of Western military assistance to Ukraine, who confirmed that Bulgaria did not send a representative to the coalition’s latest defense coordination meeting in Paris.
Speaking to reporters, Radev justified the move by arguing that continuing to supply weapons and financial support only serves to prolong the warfare. He emphasized that Bulgaria would no longer participate in a coalition that insists on continuing financial and military aid to Ukraine, stating that the solution to the war is not in prolonging it by military means, but in a strong diplomatic mission that will finally put an end to the escalation.
The policy shift reflects a transition since Radev assumed office in May, during which he has consistently halted government-supplied military aid to Kyiv while leaving private, commercial arms sales unaffected.
This stance is highly consequential for regional logistics, as Bloomberg reported that Bulgaria remains one of the European Union’s largest manufacturers of Soviet-standard ammunition, a resource that proved critical to sustaining Ukrainian forces during the early stages of the full-scale invasion.
While the Prime Minister has repeatedly rejected accusations of aligning with Moscow, advocating instead for what he characterizes as “pragmatic” relations with the Kremlin, his regional policies have frequently drawn scrutiny from pro-Ukraine allies.
Alongside halting state-directed military shipments, Bloomberg noted that Radev has opposed the European punitive measures against Russia, including proposed EU sanctions against Patriarch Kirill of the Russian Orthodox Church and Vagit Alekperov, the founder of Russian oil giant Lukoil PJSC.
Despite the Bulgarian prime minister’s Russia-leaning stance, the country’s government had previously decided not to block the European Union’s 21st sanctions package. While Sofia maintained formal objections to specific measures—particularly proposed restrictions on Russian Patriarch Kirill and Lukoil shareholder Vagit Alekperov—defense officials approved the country’s position without exercising its veto.
PUBLISHED WED, JUL 15 20261:30 AM EDT UPDATED 29 MIN AGO
KEY POINTS
Ed Miliband leaves 10 Downing Street after attending the weekly Cabinet meeting in London, United Kingdom on June 23, 2026.
Wiktor Szymanowicz | Future Publishing | Getty Images
The dispatch
By this time next week, barring the unexpected, Andy Burnham will have become the U.K.’s seventh prime minister in just over a decade.
Burnham, who did not even stand for parliament at the last general election, has revealed little so far of his policy aims.
But one early decision, being watched more than any other, will indicate how he intends to govern: his choice for chancellor of the Exchequer (or finance minister).
Few expect the incumbent, Rachel Reeves, to remain despite indications she would like to. As the minister most closely associated with Keir Starmer, the deeply unpopular outgoing prime minister, it would be odd for her to stay in post — not least because Burnham must reward his supporters with plum appointments.
An early favorite in betting markets was Ed Miliband, currently energy secretary, a key player in the coup that forced Starmer to resign. An old friend of Burnham, who he beat to become Labour leader in 2010, he is to the left of the party and popular with members.
He could, though, be hugely problematic.
He is seen as anti-business — FTSE-100 chairs and chief executives privately express horror at the idea of him as chancellor — and as market-unfriendly because he is viewed as less committed than Reeves to fiscal discipline.
That anti-business reputation reflects not only his perceived unworldliness — apart from a year working as a TV researcher after graduation, his entire career has been in politics — but also his refusal to issue new oil and gas exploration licences (a Labour policy at the last election), and his feet-dragging in approving the proposed Jackdaw gas field and Rosebank oil field in the British North Sea.
Miliband argues these would not improve Britain’s energy self-sufficiency, but critics say it makes little sense to rule out expanding domestic production when the alternative is importing oil and gas — not to mention the many thousands of well-paid jobs it would support.
Scottish Labour MPs, in particular, are nervous after the Conservatives won a recent by-election in Aberdeen South after effectively turning it into a referendum on North Sea oil and gas.
Crucially, Miliband is also mistrusted by the trade unions, Labour’s biggest paymasters. Sharon Graham, the influential general secretary of Unite, Britain’s second-largest union by membership, told The Observer last month that making Miliband chancellor would put “a noose around the neck” of job creation.
Apart from his stance on oil and gas, she has also criticised his refusal to dilute targets on electric vehicle sales, despite carmakers warning they may have to close factories and cut jobs in the absence of change.
Other contenders?
So, if not Miliband, who? Wes Streeting, the former health secretary, has been linked with the role after declining to run against Burnham for the leadership, raising speculation of a backroom deal. OId Westminster hands, though, question why Burnham would hand his closest leadership rival the second-most powerful job in government.
The experienced Yvette Cooper, currently foreign secretary (secretary of state), is a credible candidate but is not especially close to Burnham and is viewed by some in his circle as undynamic.
U.K. Secretary of State for Justice Shabana Mahmood arrives at 10 Downing Street ahead of the weekly Cabinet meeting in London, United Kingdom, on June 9, 2026.
Anadolu | Anadolu | Getty Images
Another contender is Shabana Mahmood, the highly rated home secretary (interior minister), but she is thought to want to remain in her current role.
Apart from outside bets like Chief Whip Jonathan Reynolds and Scottish Secretary Douglas Alexander, that leaves Pat McFadden, currently work and pensions secretary, a hugely experienced former Treasury minister. At 61, unaligned to any party faction and with no pretensions to the highest office, the Scot would represent little threat to Burnham.
Seen as hawkish on reducing Britain’s spiralling benefits bill — in a recent leaked message, he complained Labour MPs constantly asked him, “Who can we tax in order to pay benefits to others?” — McFadden is the most market-friendly contender.
Pat McFadden in London, England on June 2, 2026
Carl Court | Getty Images News | Getty Images
As this newsletter was going to publication, both The Times and Financial Times reported that Burnham had been persuaded not to appoint Miliband, instead opting for Mahmood.
Such reports speak to the tensions within Burnham’s camp which, it appears, is completely divided over who should be chancellor.
Those on the left favour Miliband and argue that passing him over would anger party members. Those on the right — who are thought to be behind the latest briefings — have highlighted the dangers inherent in unnecessarily antagonising both business and the financial markets.
Betting markets — and political betting markets may be more vulnerable to insider trading than many others — now have Cooper as favorite to become chancellor.
At the same time, it is being reported that none of those who supported Burnham’s rise to the highest office in the land — Miliband included — have received any confirmation that they will be rewarded with jobs, either in the cabinet or 10 Downing Street.
That Burnham looks unable, just days before he assumes office, to pick a chancellor points to the same indecision of which Starmer was frequently accused.
It does not bode well for his administration.
https://www.cnbc.com/2026/07/15/who-will-be-uks-next-chancellor-ed-miliband-streeting-mcfadden.html
Renewed U.S.-Iran hostilities have pushed Brent above $85, ending the oversupply narrative and reviving fears of a global oil shortage.
Much Anticipated 2026 LNG Oversupply Wave May Not Materialize
- According to industry analysts, the much-anticipated LNG oversupply wave of 2026 will fail to materialize, with BloombergNEF pushing out its first glut year into 2028 as the US-Iran conflict and recurring project delays impede commissioning.
- With Middle Eastern supply still capped, the blistering heat brought by this year's Super El Niño has pushed Asian LNG buying to its highest level in July, with imports set to reach 23 million tonnes.
- Asia and Europe are now competing for every available cargo, creating a zero-sum game for European buyers as Asia's benchmark JKM price jumped to $19.5 per MMBtu on Tuesday, the highest since early June.
- Due to unfavorable economics, Europe has been so far getting the short end of the LNG stick, with the Old Continent's imports poised to decline this month to 6.90 million tonnes, a 2-year low, as European LNG prices trend consistently below JKM.
- One of the most gas-deprived countries globally, Pakistan has issued another tender to purchase prompt LNG for July delivery after Qatar's LNG exports were cut short by last week's attack on the Al Rekayyat LNG carrier.
Market Movers
- US midstream giant Williams (NYSE:WMB) said that a Blackstone-led consortium will invest $5.34 billion for a 49% non-controlling stake in five of its power generation projects in Ohio, providing it with further capital to expand its AI-driven expansion.
- Australian gold miner Genesis Minerals (ASX:GMD) has agreed to acquire peer mining firm Vault Minerals for a total consideration of $8.7 billion, in a deal that would create the country's third-largest gold producer.
- London-based energy giant Shell (LON:SHEL) has agreed to sell its Indian renewables business Sprng Energy to local trading firm Aditya Birla for $1.8 billion, having paid $1.55 billion for it in 2022.
- US utility firm Chesapeake Utilities (NYSE:CPK) said that it would develop, construct, and operate a natural gas pipeline project in Florida at a total cost of $1.2 billion, seeking to address regional supply constraints.
Tuesday, July 14, 2026
The July 2026 Battle of Hormuz is in full swing, with US missile strikes on Iranian infrastructure triggering Tehran's retaliation on Middle Eastern countries hosting US bases. The closure of the Strait of Hormuz by Iran and the soon-to-be-official reinstatement of Iran's maritime blockade by the White House have jointly pushed ICE Brent above $85 per barrel. The past weeks' oversupply narrative immediately flipped back into a sentiment of global shortages, with all global benchmarks now in steep backwardation.
https://finance.yahoo.com/energy/articles/oil-oversupply-narrative-just-died-160000789.html
Photo: Reuters/Hannibal Hanschke, photo editor: Dastan Shanay
Germany’s PCK refinery in Schwedt will receive South American crude oil supplied by Poland-based energy group Unimot. The shipment follows the suspension of Kazakh crude deliveries through the Druzhba pipeline earlier this year, Unimot said in a news release.
In July, Polish energy company Unimot Paliwa imported a seaborne shipment of South American crude oil to Gdansk. The oil was then transported to the PCK refinery in Schwedt via PERN’s pipeline infrastructure.
The refinery in Schwedt supplies about 90% of the gasoline, diesel and heating oil consumed in Berlin and Brandenburg, while also delivering fuel to western Poland. Until May 2026, the refinery processed Kazakh crude oil delivered via the Druzhba pipeline. However, those supplies were subsequently suspended.
As a result, PCK, with support from the Unimot Group, secured an additional shipment of crude oil from South America. The company said the delivery is expected to strengthen fuel supply security in eastern Germany and western Poland.
Kazakhstan began exporting oil to Germany via Russia’s Druzhba pipeline in 2023, gradually increasing annual volumes from 1.5 million to 2.1 million tons. About 3 million tons were planned for export to Germany in 2026. In the first quarter, 730,000 tons of oil were delivered, double the year-earlier volume. According to the Minister of Energy, Kazakhstan supplied 20% to 30% of the German refinery’s crude oil needs.
On May 1, Russia’s Transneft suspended deliveries of Kazakh oil through the pipeline, citing a lack of technical capacity.
The United States supports plans by Iraq and Syria to rebuild a damaged oil pipeline that would carry crude from Kirkuk to Syria’s Mediterranean coast and bypass the Strait of Hormuz.
The U.S. backs the Iraqi and Syrian efforts to rebuild the Kirkuk-Baniyas oil pipeline and diminish Iran’s potential to disrupt Hormuz traffic in the future, an official at the U.S. State Department told Reuters.
The United States also expects U.S. companies to play a role in the reconstruction of the Kirkuk-Baniyas oil route, according to reports. The pipeline would be crucial for Iraq’s oil exports not depending on Hormuz, Syria’s post-war economy, and reduced Iranian leverage in the Strait.
The plan is one of several that Iraq and Syria have been studying in recent weeks and discussing with top U.S officials.
Thomas Barrack, the Special Presidential Envoy for Syria and Iraq, has hosted talks with Syrian and Iraqi officials and oil companies, including U.S. supermajor Chevron, on potentially rebuilding the damaged Kirkuk-Baniyas oil pipeline, sources with knowledge of the matter told Bloomberg this week.
Other options for brand-new land oil corridors between Iraq and Syria are also being considered, although talks have so far focused on the Kirkuk-Baniyas link.
One of the alternatives would be an oil pipeline from Basrah in southern Iraq to Haditha in the north, which could then branch out to Syria, Turkey, or Jordan, according to Bloomberg’s sources.
Early this month, Iraq’s government approved the state Basra Oil Company to sign a preliminary agreement with U.S. firms including Chevron to study potential oil pipeline projects.
Iraq desperately needs export routes not depending on the Strait of Hormuz, whose closure exposed this key Iraqi vulnerability, forced OPEC’s second-largest producer to slash upstream production, and led to billions of U.S. dollars of lost revenues for Baghdad.
The U.S. support for Iraq-Syria oil routes comes as U.S. President Donald Trump hosted Iraqi Prime Minister Ali al-Zaidi at the White House on Tuesday.
“New pipelines for energy, new roads to progress. A more prosperous Iraq means a more stable region—and exclusive opportunities for American business,” Barrack, the presidential envoy, said, commenting on the meeting.
The Strait of Hormuz crisis has prompted all Persian Gulf producers to seek alternative export routes via pipelines to lessen their dependence on the chokepoint that will never be the same again.
By RFE/RL staff - Jul 14, 2026, 2:00 PM CDT
US President Donald Trump has walked back his plan to charge a 20 percent fee on cargo shipped through the Strait of Hormuz, replacing it with proposed trade and investment agreements with Persian Gulf states while maintaining a blockade on Iranian shipping.
“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump wrote on Truth Social.
He provided no details of any commitments by Gulf governments but said the investments would be “MASSIVE.”
The policy shift came as US forces continued striking targets across southern Iran and enforcing the renewed blockade.
Explosions rocked parts of Iran through the day on July 14 as the US military hit targets inside the country, while Tehran launched missiles around the Persian Gulf.
Iranian state media reported that five explosions were heard around the port city of Bandar Abbas, near the Strait of Hormuz, which has been at the center of renewed fighting between the United States and Iran. The port city of Bushehr, home to Iran's sole nuclear power plant, also came under attack.
Blasts were also reported on several islands off of Iran's southern coast, including Kish, Qeshm, and Abu Musa.
Jordan and Bahrain said they had intercepted barrages of Iranian ballistic missiles and the United Arab Emirates reported attacks on vessels in the strait that left one crew member dead and at least eight others wounded.
US Central Command (CENTCOM) said a naval blockade against maritime traffic entering and exiting Iranian ports would be reinstated from 4 p.m. Eastern Time on July 14.
"CENTCOM forces will enforce the blockade against vessels transiting to or from Iranian ports and coastal areas. The U.S. military continues to support traffic flow through regional waters for all vessels not violating the blockade," CENTCOM said in a statement.
The strikes are the latest sign of the unraveling of an accord signed last month setting out conditions under which the two sides would negotiate a peace deal.
Over the weekend, Trump notified Congress that the United States was once again at war with Iran, starting a 60-day period during which he could order military strikes without having to seek formal approval from lawmakers.
Speaking to reporters at the White House late on July 13, Trump said the attacks were aimed at disabling Iran's ability to disrupt maritime traffic in the strait.
He added that despite the renewal of attacks on Iran, a deal to end the fighting is still possible.
"Yeah, I think a deal is possible. Sure, I do," Trump told reporters in the Oval Office. "We had a deal with them two days ago and then they said 'Oh we can't make that deal. We have to negotiate it further.'"
Earlier on July 13, Trump told Fox News that the United States may take control of the strait, which during peacetime handles about one-fifth of the world's energy transit and has become one of the main battlegrounds of the conflict.
Later that day, Trump declared in a social media post that the United States was “THE GUARDIAN OF THE HORMUZ STRAIT” and proposed charging a 20 percent fee on cargo shipped through the waterway before abandoning the plan a day later.
Iran's Islamic Revolutionary Guards Corps (IRGC) had said in a statement just before Trump's announcement that the only way to restore regular shipping traffic through the strait was to end US military intervention in the waterway.
Iran's top joint military command later said the US had no role in determining the future of the strait, warning countries cooperating with Washington "bear full responsibility for all insecurity and the escalation of the war in the region."
Iranian Foreign Minister Abbas Araqchi also reacted to Trump's social media post, saying that "Iran has always been the GUARDIAN of the Strait and will remain so FOREVER."
The military escalation has raised fresh questions about the fate of the agreement that had offered hopes of a negotiated settlement.
Trump said last week the Memorandum of Understanding was void in his mind, though he added that negotiators could continue to hold talks if they felt progress could be made on a peace accord. But a weekend of attacks has dimmed those prospects even further.
Iranian Foreign Minister Abbas Araqchi met Omani Foreign Minister Sayyid Badr Albusaidi over the weekend to discuss mechanisms for ensuring safe navigation through the Strait of Hormuz, according to Tehran.
Earlier, Oman said discussions with Iran would continue at both the technical and political levels in an effort to reach agreements consistent with international law regarding navigation through the waterway.
No US officials took part in the discussions.
RFE/RL learned from diplomatic sources that Omani mediators handed proposals to the Iranian delegation aimed at resolving disputes over maritime navigation. Senior officials declined to comment on the substance of the proposals.
According to diplomatic sources familiar with the discussions, Iran left the negotiations saying it would return after reaching a unified internal position on proposals that would have allowed freedom of navigation through Omani waters in the southern part of the strait without tolls.
Shortly afterward, Iran's national security apparatus responded by firing on a commercial vessel and announcing the closure of the waterway.
In recent months, Trump has promoted what he has called the "Southern Highway" -- a shipping route that keeps vessels closer to Oman's coastline and farther from Iranian territorial waters.
Tehran has repeatedly insisted that only its preferred route, running closer to the Iranian coast, is considered safe and has previously been accused of targeting vessels using the Omani route.
War Of Words Raises Risks
The latest confrontation unfolded against an increasingly volatile political backdrop.
Iran's new Supreme Leader Mojtaba Khamenei vowed revenge for the killing of his father and predecessor, Ali Khamenei, saying retaliation "must inevitably be carried out."
Ali Khameini, who was killed in US and Israel air strikes on February 28 as the war broke out, was buried on July 9 at the Imam Reza shrine in Mashhad.
"This matter depends neither on my personal existence nor on that of other officials. Whether we are present or not, it will come to pass," he said, adding that Iran had compiled a list of individuals to be targeted.
Hours earlier, Trump warned that any assassination attempt against him would trigger overwhelming US military retaliation.
Bitcoin (BTC-USD) opened at $62,259.16 today, Tuesday, July 14, 2026, down 2.3% from yesterday's opening price. The price of bitcoin firmed this morning to $62,865.44 by 8:21 a.m. ET.
Ethereum (ETH-USD) opened at $1,774.10, down 1.8% from yesterday's open. The price of ethereum adjusted to $1,785.68 by 8:21 a.m. ET.
After the strongest opening prices in weeks yesterday, crypto prices opened lower this morning, as the U.S. ramps up pressure on Iran to return to the negotiating table. Ahead of today's June CPI report, both bitcoin and ethereum prices are firming somewhat, but it's unclear if that rising trend will hold as oil prices (BZ=F) escalate.
Current price of bitcoin and ethereum
Bitcoin
The price of bitcoin was down 2.3% this morning from Monday's open. Here's a look at how the opening bitcoin price has changed versus last week, month, and year:
One week ago: -2.7%
One month ago: -3.4%
One year ago: -47.7%
The all-time high for bitcoin was $128,198.07 on Oct. 6, 2025. The all-time low value for bitcoin was $0.04865 on July 14, 2010.
Ethereum
The price of ethereum this morning is down 1.8% compared to Monday's open. Here's a look at how the opening ethereum price has changed versus last week, month, and year:
One week ago: -1.3%
One month ago: +5.6%
One year ago: -40.3%
The all-time high for ethereum was $4,953.73 on Aug. 24, 2025. The all-time low value for ethereum was $0.4209 on Oct. 21, 2015.
What is Ethereum and how does it work?
Ethereum is the blockchain, while ether is the cryptocurrency that runs on it. When people say they're "buying ethereum," they're usually buying ETH — the digital asset used to run applications and store value.
Some investors trade short-term, others accumulate their holdings slowly, and still others focus on earning a yield by locking up their ETH to help run the network — a process known as staking.
Drill hole YK26-002, located 45m east of previous hole YK26-001, returned 40.25m of 0.52% copper (Cu), 0.4 grams per tonne gold (Au), 4.49g/t silver (Ag), and 85 parts per million (ppm) molybdenum (Mo) from 30m downhole.
The interval includes 8.75m of 0.74% Cu and 0.46g/t Au from 44.25m, and 15.85m of 0.70% Cu and 0.59g/t Au from 54.4m.
Drill hole YK26-003, positioned 350m west of YK26-001, intersected 32m of 0.17% Cu and 0.04g/t Au from 25m downhole, including 9m of 0.25% Cu and 0.09g/t Au from 33m.
“These results demonstrate continuity of copper-gold skarn mineralisation across a broader footprint than previously recognised,” CEO Jon Ward says.
“Hole YK26-03 confirmed mineralisation 350m west of Hole YK26-01, while Hole YK26-02 extended the higher-grade oxide skarn eastward.”
Phase one drilling totalled 1,087m across six drill holes, testing more than 500m of strike length. Results remain pending from three additional holes.
YK26-002 intersected copper oxides hosted in skarn and replacement-style mineralisation.
The hanging wall monzonite porphyry shows strong copper, gold, and molybdenum anomalism, indicating connection to a potentially more expansive porphyry-style mineralised system.
YK26-003 targeted a magnetic anomaly to the north, with mineralisation tenor similar to historical drill hole AV-1, which encountered 27.4m of 0.14% Cu over 400m north of YK26-001.
Drilling results indicate the mineralised system continues north and northwest toward the recently identified North Skarn target.
Ward says the mineralisation remains largely open to the north under cover toward the North Skarn target, with plans to test this target and two other untested copper-gold targets in a future drill program.
Corcel Exploration is a US-focused copper-gold explorer advancing the Yuma King project in Arizona’s Ellsworth Mining District.
Write to JC Villarba at Mining.com.au
Images: Corcel Exploration
https://mining.com.au/corcel-expands-yuma-king-copper-gold-strike-to-900m/
The pitch for federal environmental approval for Harmony Gold Mining Company’s Eva copper mine underscores the importance of meeting its target to be producing copper concentrate in 2028 as critical feed for the Mount Isa smelter.
The project – about 75km north-east of Cloncurry – has reached a milestone in the approvals process, with its Stage 1 referral under the EPBC Act open for public feedback until July 28.
In paperwork supporting the application, Harmony said the project had been referred in two stages as any delay to approval and commencement of Stage 1 would set back commissioning and production of feed for the Glencore copper smelter.
The project is forecast to provide about 35 per cent of the Mount Isa smelter’s copper concentrate feed, making it essential to the ongoing viability of the smelter and Glencore’s Townsville refinery.
‘The Mount Isa copper smelter’s future depends on securing an additional, long-term, reliable concentrate supply to replace the previous Mount Isa Mines feed, which ended with the mine’s closure in 2025,’ the proponent states.
‘The project is one of the few near-term projects with the scale to address the critical loss of feed to the smelter, and opportunity to deliver first copper concentrate production within the window when decisions about the future of the smelter and refinery will be most acute given the term of the current State and Federal government support package for the smelter is due to end in 2028.
‘The project’s designation as a prescribed project, as well as being part of the Mount Isa Mining Accelerator Program, reflects the Queensland Government’s recognition of the broader economic importance of achieving first production in 2028.’
The principal disturbance activity under Stage 1 is the clearing of up to 696ha of native vegetation within the project footprint to facilitate the development of the Turkey Creek mining pit, the Little Eva starter pit, and supporting infrastructure.
This includes expansion of the run-of-mine ore stockpiles and Little Eva waste rock dump, construction of Stage 1 of the tailings storage facility, surface water management infrastructure, haul roads, access roads, topsoil stockpiles, laydown areas and associated ancillary infrastructure.
Harmony announced the board’s approval of the final investment decision for the $2.3 billion-plus Eva mine development late last year.
While federal approval is pending, project development activities will continue to be undertaken within areas that have been cleared within the action area over the course of 2024, 2025 and early 2026 under an early works and preparatory construction activities campaign.
https://industryqld.com.au/smelter-future-front-of-mind-in-eva-mine-approvals-bid/
Ministry of Mines to Launch Eighth Tranche of Auction of Critical and Strategic Mineral Blocks
Shri G. Kishan Reddy, Hon'ble Union Minister of Coal & Mines, will launch the Eighth Tranche of Auction of Critical and Strategic Mineral Blocks in the presence of Shri Satish Chandra Dubey, Hon'ble Minister of State for Coal & Mines, along with senior officials of the Ministry and other dignitaries on 15 July 2026 in New Delhi.
The Eighth Tranche comprises 20 critical and strategic mineral blocks spread across nine States, including 13 newly identified blocks and 7 blocks being offered under the second attempt. The mineral portfolio includes Molybdenum, Graphite, Glauconite, Rare Earth Elements (REE), Vanadium, Gallium, Titanium, Tungsten, Phosphorite, Potash, Lithium, Cesium and Rubidium. These minerals are critical for clean energy, advanced manufacturing, fertilisers, defence and other strategic sectors.
With seven tranches completed, the Ministry of Mines has successfully auctioned 56 out of 88 critical and strategic mineral blocks taken up for auction, achieving a success rate of over 63%. The strong industry response across successive auction rounds reflects growing investor confidence in the Government's transparent, competitive and market-driven auction framework, while reinforcing India's efforts to secure critical mineral resources for economic growth, technological advancement and the clean energy transition.
The mineral sector achieved a historic milestone in FY 2025–26, with 212 mineral blocks successfully auctioned, the highest in any financial year since the commencement of the auction regime. This included 22 critical and strategic mineral blocks, reaffirming the Government's commitment to securing critical mineral resources essential for India's economic growth, technological advancement and clean energy transition.
The Government has also recently notified amendments to the Mineral (Auction) Rules, 2026 to further streamline the auction process. The reforms rationalise timelines for payment of the upfront amount, provide greater flexibility in the execution of Mining Lease and Prospecting Licence deeds, and facilitate timely refund of bid security, performance security and other payments where auctions are annulled for reasons not attributable to the preferred or successful bidder. These measures are aimed at improving ease of doing business, enhancing investor confidence and accelerating the operationalisation of auctioned mineral blocks.
***
PKMV
In June alone, the figure rose by 6.6% y/y
In the first half of 2026, China’s steel exports fell by 5.6% year-on-year to 54.87 million tonnes. This was reported by the China Iron and Steel Association (CISA), citing data from the customs service.
In June alone, the figure stood at 10.32 million tonnes, down 0.2% on the previous month, though it rose by 6.6% year-on-year. The average price of these exports for the period was $710.8 per tonne, up 1.9% month-on-month.
Total steel imports into China in January–June amounted to 2.69 million tonnes (-11.3% year-on-year).
In June, the figure stood at 441,000 tonnes, which was 2.2% lower than in May and 6.2% lower year-on-year. The average price of these imports was $1,925.4 per tonne.
Iron ore imports in June reached 112.7 million tonnes, up 15.3% compared with the previous month. The average price was $103.3 per tonne (+0.3% month-on-month). In the first half of the year, the corresponding figure stood at 628.87 million tonnes (+6.3% year-on-year).
“Supplies rose last month as some mining companies stepped up efforts to meet quarterly targets, whilst some mines increased output,” said Qingwei Xie, an analyst at the consultancy Shanghai Metals Market, as quoted by Reuters.
It is worth noting that, by the end of 2025, China had increased its steel exports by 7.5% year-on-year – to a record 119.02 million tonnes. Overseas shipments helped the country offset the slowdown in domestic demand. Steel imports into China last year totalled 6.06 million tonnes, down 11.1% year-on-year.
https://gmk.center/en/news/china-s-steel-exports-fell-by-5-6-y-y-in-january-june/
