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
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 resourcesBHP's manager for Australian exploration, Jamie King, told one of the final sessions of PDAC this week th...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationMontreal-based TRQ is 51% owned by Rio and holds 66% of the Oyu Tolgoi copper/gold mine (which is managed and operated by Rio) in Mongolia, with the government holding the remaining 34%.Read More
Hot-dipped galvanized (HDG) and color-coated coil prices in Turkey rose further in the week to Friday March 12 and some producers stopped accepting new orders at the end of the week, sources told Fastmarkets.The order books are expected to open next week with higher offer prices, sources said.Coated coil prices are increasing on strong demand and also higher prices for hot-rolled coil, the base pr...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe company reported a new discovery, East Ridge at Red Chris, 300m east of East Zone.A diamond hole returned 198m at 0.89 grams per tonne gold and 0.83% copper from 800m, including 76m at 1.8gpt gold and 1.5% copper, open in all directions.Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSORE...Read More
Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday March 12, with prices generally consolidating after recent weakness/consolidation. A lack of follow-through selling suggests underlying sentiment is still bullish.United States stimulus and European Central Bank support for a continued low interest rate environment are underpinnin...Read More
German steelmaker Salzgitter has started operations at its Wind Hydrogen project for hydrogen production from electricity generated by wind power, the company announced on Thursday March 11.In partnership with Avacon and gas producer Linde, Wind Hydrogen Salzgitter, WindH2, is part of the company's plans to decarbonize the steel industry through the SALCOS (SAlzgitter Low CO2 Steelmaking technolog...Read More
A shortage of material in the domestic European hot-rolled coil market, coupled with good demand, supported a slight rise in prices on Friday March 12, sources told Fastmarkets. Buyers also spoke of deliveries being delayed, adding pressure on the distribution chain. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?793.00 ($947.96) per tonne on...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationRio can earn up to 75% of five tenements in the West Arunta region which are considered prospective for iron oxide-copper-gold mineralisation. The company already holds the ground surrounding Tali.Read More
Junior gold developer Bluestone Resources is changing tack as it looks to bring its Cerro Blanco project in Guatemala into production through an open pit development scenario which promises to deliver higher returns and more benefits to local stakeholders.The company recently released a "game changer" preliminary economic assessment for a compact open pit mine which doubled the Cerro Blanco gold r...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening traded.Index futures were virtually unchanged following release of the February Producer Price Index at 8:30 AM EST. Consensus was a gain of 0.5% versus an increase of 1.3% in January. Actual was an increase of 0.5%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of...Read More
Vale has started commissioning wet processing operations at its Timbopeba site, which is part of its Mariana iron ore complex in Brazil's southeastern Minas Gerais state, which will increase the mine's iron ore production capacity by 7 million tonnes per year.The commissioning process is expected to last for two months, and will increase production capacity to 12 million...Read More
Increasing scrap flows and bearish appetites led to softer prices in the majority of international steel scrap markets in the week to Friday March 12.While the markets in the United States, China and India appeared to be static over the period, a flurry of buying activity in Vietnam was intended to capitalize on lower Japanese scrap prices, while Taiwanese traders made hasty sales in a bid to avoi...Read More
Trading activity in the pig iron import market in the United States slowed down during the week to Friday March 12 because buyers have restocked, sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $570 per tonne on Friday, unchanged week on week.The latest deal in the US for low-phosphorus pig...Read More
The price of austenitic steel scrap in the UK and Europe fell further in the past seven days following the sharp drop in the nickel market last week, sources told Fastmarkets on Friday March 12.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,050-1,120 ($1,465-1,563) per tonne on Friday, down by ?30-50 per tonne week on week fro...Read More
Prices for shredded steel scrap imported into India and Pakistan moved down in the week to Friday March 12 following a correction in the international scrap market, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $450.83 per tonne on Friday, down from $460.86 per tonne one week previously.A deal was heard at $450 per to...Read More
Is the world on the brink of a fourth wave of increasing coronavirus infections and deaths?Based on the latest data, that's a possibility that cannot be ruled out right now. Here's why…After the virus broke out in Wuhan, China, it spread rapidly to Milan, Italy, where a new strain called the Italian Strain became much more contagious. The Italian Strain spread through Europe and then to New...Read More
The United Kingdom light iron steel scrap market was stable in the week to Friday March 12, consolidating a three-week run of price increases amid tight domestic supply and regular export business into traditional deep-sea destinations, sources told Fastmarkets.The UK light iron market has climbed about 25% from one month ago to its highest level since May 2012, when prices were ?160-170 per tonn...Read More
Turkish deep-sea scrap import prices fell sharply on Friday March 12 as a result of panic sales, especially in the Baltic Sea region, market sources said.A steel mill in the Marmara region booked a 30,000-tonne cargo from the Baltic Sea region, comprising HMS 1&2 (80:20) at $437 per tonne and bonus at $447 per tonne cfr. The cargo breakdown was no clear at the time of the publication.A steel mill...Read More
Clients and ultimately the metals market will suffer if the London Metal Exchange's proposals to change its margin methodology go ahead, the heads of a number of brokers and trade users have said.Speaking during a panel discussion at the virtual Fastmarkets Copper Seminar, executives noted that the provision of credit, granted by brokers to clients, was at the heart of the LME's franchise. But cha...Read More
If the proposed changes to the London Metal Exchange's margin methodology go ahead, it would be a "disaster" for the provision of credit to clients by its brokers, according to the acting managing director for Minmetals (UK).Liangmin Gu said that a change would have a "huge" effect on the metals trading company, and would increase costs and reduce the LME's competitiveness against its peers in the...Read More