Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More

The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More

Cancellations of aluminium out of London Metal Exchange warehouses in Port Klang, Malaysia, have begun, after more than 600,000 tonnes was delivered over the past week.About 85,000 tonnes were shown as freshly canceled on March 16, with 83,850 tonnes of that at Port Klang and additional, small cancellations in Johor and Singapore.Market participants told Fastmarkets they believe big queues could b...Read More

A summary of Antofagasta's financial results for the full year of 2020, as stated in its preliminary results, and its production guidance for 2020, as per a company report published on Tuesday March 16.Financial results - in brief: Antofagasta's revenue in 2020 was $5.1 billion, an increase of 3.3% from 2019, which the company attributed to "increases in copper and gold realised prices, partially...Read More

Flat steel import prices to the United Arab Emirates and Saudi Arabia continued to increase sharply while buyers were hesitant to make bookings because they were uncertain if prices would stay high, sources told Fastmarkets on Tuesday March 16."The market is not absorbing the price increases until now but if the increases continue like this, there would be no other option than to accept," one trad...Read More

Steel billet and rebar buyers in the United Arab Emirates preferred to wait during the week to Tuesday March 16 so any price changes were small, sources told Fastmarkets.Rebar producers in the UAE are expected to announce new prices soon so buyers are waiting to place import orders, market participants said.The country's steel producers are officially offering rebar at 2,530-2,545 dirhams ($689-69...Read More

Independent traders in Europe have joined forces to oppose the extenstion of safeguard measures against 26 steel product categories, sources told Fastmarkets on Tuesday, March 16.A consortium of 33 mostly medium and small businesses connected to the steel trade and steel processing have teamed up to form 'Companies Against Import Restrictions' (Cair) to fight against protectionism in the Euro...Read More

Steel rebar and wire rod producers in the Commonwealth of Independent States (CIS) had to decrease their asking prices to foreign customers in mid-March because of unsupportive market fundamentals.Falling prices for steel scrap and for iron ore in the week ended March 12, together with insufficient demand for finished long steel products, forced suppliers to cut their offers to attract customers.R...Read More

The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More

China's domestic rebar prices halted their downward trend on Tuesday March 16 amid stronger end-user demand. DomesticEastern China (Shanghai): 4,680-4,700 yuan ($720-723) per tonne, unchanged Buyers from the construction sector raised their procurement rates upon seeing the early gains in futures.The mild weather also led to improved construction activity, leading to good demand for rebar. Though...Read More

Micon Awarded Front End Engineering Design and Definitive Feasibility StudySPONSOREDmicon internationalRex ready to rollSPONSOREDrex mineralsDavyhurst back producing gold; can it produce a lot more?SPONSOREDora banda miningSolaris Resources on winning streak in EcuadorSPONSOREDsolaris resourcesThe latest payout meant a full year dividend of 54.7c/sh, equating to 100% of underlying earnings per sha...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationYesterday's results included 4.9m at 7.99% copper-equivalent within 25.9m of continuous mineralisation.Foran said the MS zone had delivered copper-equivalent grades roughly double the average grade of the overall resource estimate for that zone.Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPON...Read More

Micon Awarded Front End Engineering Design and Definitive Feasibility StudySPONSOREDmicon internationalRex ready to rollSPONSOREDrex mineralsDavyhurst back producing gold; can it produce a lot more?SPONSOREDora banda miningSolaris Resources on winning streak in EcuadorSPONSOREDsolaris resourcesIt had submitted a request for appeal in January over the negative federal permitting decision issued in...Read More

Base metals prices were mixed this morning, with those on the London Metal Exchange mainly weaker, while prices on the Shanghai Futures Exchange were more mixed this morning, Tuesday March 16, but Asian-Pacific equities were upbeat.* United States 10-year treasuries yields have eased to 1.59%, from 1.64%* Wall Street equity indices set fresh record highs on MondayBase metalsThree-month base metals...Read More

The Turkish deep-sea scrap import market remained quiet on the second working day of the week, with market participants expecting further price falls due to the lack of demand for finished steel, sources told Fastmarkets on Tuesday March 16.After two Baltic Sea cargoes were booked at $435-437 per tonne cfr on an HMS 1&2 (80:20) basis at the end of last week, the daily scrap indices dropped by $15....Read More

Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on Monday March 15.The shipments will be intended to meet increased demand from customers in the Asia-Pacific region, primarily China. The large vessels will also ease the commercial pressure that is being exerted by...Read More

Uranium ETF (URA) moved above $19.85 to a 6 year high extending an intermediate uptrend. Responding to recent strength in Cameco.Lockheed Martin (LMT), an S&P 100 stock moved above $347.63 completing a Reverse Head & Shoulders pattern.Starbucks (SBUX), a Dow Jones Industrial Average stock moved above $110.47 to an all-time high extending an intermediate uptrend.Pre-opening Comments for Tue...Read More

Falling steel scrap prices in Japan and continued uncertainty over whether Chinese port authorities will allow ferrous scrap cargoes to discharge remain key considerations for buyers in China, many of whom lowered their bids this week, sources said.Bids for heavy scrap (HS) from buyers peaked at $480 per tonne cfr China on Tuesday March 16, while offers were at $480-499 per tonne cfr China.South K...Read More

Iron ore prices went up on Tuesday March 16 on support from the demand recovery following the easing emissions restrictions in Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.32 per tonne, up $2.99 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.40 per tonne, up $2.79 per tonne58% Fe fines high-grade premium, cfr Qingdao: $152.72 per tonne, up $...Read More

The seaborne premium hard coking coal price in the fob market rebounded on Tuesday March 16 amid recovered buying interest, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $116.1 per tonne, up $1.58 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, unchangedHard coking coal, fob DBCT: $108.15 per tonne, down $0.50 per tonneHard coking coal, cfr Jingtang...Read More

China's domestic hot-rolled coil market softened on Tuesday March 16 while export prices increased amid heightened concerns over an export tax rebate cut in the country.DomesticEastern China (Shanghai): 4,950-4,970 yuan ($761-765) per tonne, down 20 yuan per tonneMany market participants told Fastmarkets that they had been hearing about a possible lowering of the HRC export tax rebate earlier in t...Read More

Three-month base metals prices on the London Metal Exchange were down across the board during morning trading on Tuesday March 16, with tin's price falling the most to $24,630 per tonne - this after the complex mostly ended in positive territory on Monday. "A slew of macro releases out of China also buoyed sentiment [on Monday]. In this regard, China's industrial output rose 35% in the first two m...Read More