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
In the export markets for flat steel from the Commonwealth of Independent States (CIS) trading activity was low in key outlets, although the positive global market mood supported higher offers, sources told Fastmarkets on Monday November 2.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $475-495 per tonne on November 2, unchanged w...Read More
A summary of the financial results of German metals distributor Kl??ckner & Co for the third quarter of 2020, ended September 30. In brief The company reported lower shipments for the quarter primarily due to the impact of the Covid-19 pandemic that affected all operating segments. The business in Switzerland was relatively less affected thanks to a strong reinforcing steel product line.&nbs...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 40 points in pre-opening trade.Bausch Health added $0.91 to US$18.25 after reporting higher than consensus third quarter revenues.Wayfair advanced $29.90 to $285.54 after reporting higher than consensus third quarter revenues and earnings.McKesson gained $5.97 to $158.00 after reporting higher than consensus fiscal sec...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market amid growing uncertainty over the potential impact of the presidential election in the United States, sources said on Tuesday November 3.Mills in Turkey have been silent in the deep-sea scrap markets since the middle of last week after booking number of cargoes. Most market participants were waiting to see what impact the pr...Read More
Many Chinese steelmakers switched up their sinter feed ratios to consist of more low and high-grade iron ore amid rising prices for mid-grade products in the third quarter, sources said.This trend appeared short-lived when iron ore prices declined in the last couple of months but with coke becoming costlier in China, blends of low and high grades of iron ore appear to be making a comeback.Surging...Read More
Iron ore prices in the futures and seaborne markets both went down on Tuesday November 3, sources said, adding that weak sentiment amid increasing shipments had depressed the prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.09 per tonne,down $0.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.63 per tonne,down $1.02 per tonne58% Fe fines high-grade premium, cfr Qingdao:...Read More
Seaborne coking coal prices remained relatively flat across the board on Tuesday November 3 amid a market lull, while market participants expressed their concerns for the market outlook.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.76 per tonne, down $0.19 per tonne Premium hard coking coal, cfr Jingtang: $134.94 per tonne, unchangedHard coking coal, fob DBCT: $95.03 per tonne, down...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 3 that are worth another look.Flying taxis and skyports could become a reality over the next 20 years, according to Shin Jaiwon, Hyundai Motor Group's executive vice president and head of the newly established Urban Air Mobility...Read More
China's domestic rebar prices lost upward momentum on Tuesday November 3 on a weaker futures market and amid rising concerns over mills profiting from high rebar output.DomesticEastern China (Shanghai): 3,810-3,840 yuan ($569-574) per tonne, unchanged Some buyers cut procurement rates on seeing the weaker futures market, but while trading activity dropped off slightly, most end...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly stronger this morning, Tuesday November 3, after markets were encouraged by generally robust manufacturing purchasing managers' index (PMI) data that came out on Monday. Regardless of who wins the US presidential election, the markets expects the liquidity pumps to remain switched on......which is suppor...Read More
The cobalt alloy 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....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 cobalt...Read More
The Chinese government has launched a new energy vehicle (NEV) industry development plan that will see NEV sales account for 20% of the country's total vehicle sales by 2025.The plan, which covers the period from 2021 to 2035, will also see battery-electric vehicles dominating new vehicle sales by 2035. By that time, China's goal is to have all of its public transport running on electric power.Ann...Read More
Africa-focused Rainbow Rare Earths (LSE: RBW) has signed an agreement with Bosveld Phosphates to co-develop the Phalaborwa rare earths project in South Africa.The asset contains about 35 million tonnes of gypsum resulting from historic phosphate hard rock mining, containing rare earth elements (REEs) with an estimated average in-situ grade of 0.6% total rare earth oxides (TREOs), the companies sai...Read More
Drilling at O3 Mining's (TSXV: OIII) Malartic property in Val d'Or, Que., hit near-surface extensions of the Kierens gold deposit, outside of the proposed pit outlines defined in a September preliminary economic assessment (PEA).The company has released assay results for four drill holes, all of which hit the Kierens-Norlartic zone at shallow depths and suggest that the Kierens deposit comes close...Read More
This week's episode featured Professor Dennis Buchanan, senior research fellow and director of the MSC in metals and energy finance in the department of Earth science and engineering at Imperial College in London. Dennis discusses his courses on mining and finance at Edumine.com, and the importance of building interdisciplinary skills to better understand the business of mining. He also describes...Read More
Mexico-focused Torex Gold Resources (TSX: TGX) is the latest gold miner to report surging profits on the back of a strong gold price.For its third quarter, Torex poured 131,790 oz. gold at all-in sustaining costs (AISCs) of US$877 per oz. at its El Limon Guajes mine in Guerrero state. At the same time, it sold over 133,000 oz. gold at US$1,884 per oz. - making for a stellar quarter.The company pos...Read More
Pink diamonds, already rare, are about to get scarcer as Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has closed its iconic Argyle diamond mine, the world's biggest and the main global source of high-quality pink diamonds.Since opening its doors 37 years ago, the mine in Western Australia produced 865 million carats of rough diamonds and became the source of about 90% of the world's prized rose-to-ma...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Minor premiers Port Adelaide got knocked out of the AFL grand final, and now BHP has added to SA's misery by deciding against a US$2.Read More
Regardless of who wins the U.S. election this week, the gold market is set to benefit, particularly gold miners, James Rasteh from Coast Capital said.Read full newsRead More