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
South Africa's radical leftist Economic Freedom Fighters (EFF) will nationalise all mines by 2023 if elected this year, the party said in its election manifesto launched on Saturday.The party is using an anti-corruption, jobs creation and state control of the economy platform to challenge the governing African National Congress (ANC) in the election expected in May. We cannot postpone the land que...Read More
Lead's three-month price on the London Metal Exchange surged to its highest level since August 2018 during afternoon trading on Monday February 4, breaching the nearby $2,100 per tonne support level while nickel and zinc futures similarly gathered momentum. The three-month lead price reached an intraday high of $2,135.50 per tonne this afternoon, while volumes traded in the metal remain moderate a...Read More
The three-month lead price reached an intraday high of $2,135.50 per tonne this afternoon, while volumes traded in the metal remain moderate at just under 3,500 lots as of 4:44pm London time. Click...Read More
Based on diamond miner equities, sentiment surrounding the diamond industry is currently at a historically low level, says diamond analyst Paul Zimnisky. However, global diamond jewellery sales have been growing at a steady rate, in nominal and real terms, for the past nine years, he adds.In a report released on his website last week, he notes that, "over the past two years, a basket of diamond pr...Read More
Mexico's steel industry association Canacero has demanded the renewal of a safeguarding duty of 15% imposed on imports of steel products, after it expired on January 31, it told Fastmarkets on Monday February 4.The duty was first set in October 2015, and has been renewed several times. In June 2018, the tariff was imposed on imports of products classified under 186 tariff codes, including...Read More
Turkey exported 5,995,470 tonnes of flat steel products in 2018, an increase of 43.51% compared with 2017's 4,177,773 tonnes, according to the Turkish Statistical Institute (TUIK).Strong demand for flat steel, especially in Europe and North Africa, was the main factor behind the increase in the country's flat steel exports.In addition, local demand for steel in the Middle Eastern country was not s...Read More
Turkey's imported flat steel volumes fell by 17.66% year on year in 2018, according to data released by the Turkish Statistical Institute (TUIK) last week.Turkey imported 6,908,686 tonnes of flat steel in January-December 2018, down from 8,390,305 tonnes in 2017.The decrease was largely due to weak demand for steel in Turkey's local market through 2018, especially in the second half of 2018, sourc...Read More
Import prices for rebar in Singapore were unchanged in the past week due to a seasonal lull ahead of the Lunar New Year holidays.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $460 per tonne cfr for the week to Monday February 1, unchanged from a week earlier.There was limited interest fro...Read More
Import prices for re-rolling-grade hot-rolled coil into Vietnam rose in the past week on expectations of higher iron ore prices and limited offers from China and India.Fastmarkets MB's weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $500-510 per tonne cfr for the week ending Monday February 4,...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Monday February 4, with copper down by 0.4% at $6,116 per tonne and zinc leading on the upside with a 0.6% gain. Aluminium, nickel and lead were all up by 0.2% and tin was little changed. With the Lunar New Year holidays (February 4-10) underway in China and across most of Asia, volume acr...Read More
Alderan unlocking Frisco potentialSPONSOREDalderan resourcesCortadera is located near Hot Chili's Productora and El Fuego ground, and features drill hits ranging from 90m grading 1% copper and 0.4 grams per tonne gold from 4m downhole, to 864m at 0.Read More
A Brazilian court has decided that iron ore miner Vale should halt operations at eight tailings dams in the country's south-eastern state of Minas Gerais, where a dam failed recently, the company said on Monday February 4.A court in Belo Horizonte, the Minas Gerais state capital, ruled that the company is no longer allowed to store more waste material or engage in any action that could compromise...Read More
Iron ore export volumes from Brazil went up by 8.40% year-on-year in January to a total of 33.16 million tonnes, the country's ministry of industry and foreign trade, MDIC, said on Friday February 1.The volume shipped abroad in January 2019 compared with 30.44 million tonnes during the corresponding month in 2018. In comparison with December 2018, however, exports in January this year fell by 9.20...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Chipotle (CMG $527.20) is expected to open higher after Wedbush raised its target price to $440 from $400.Keycorp (KEY $16.63) is expected to open lower after Wedbush downgraded the stock to Neutral from Outperform. Dell Technologies (DELL $15.63) is expected to open higher after JP Morgan r...Read More
Turkish deep-sea scrap import prices went up on Monday February 4 after a new cargo booking was heard, sources told Fastmarkets.A cargo came to light on Monday which was reported to have sold on Friday, but after the submission deadline for that day's indices.A steel mill in the Izmir region booked a European cargo comprising...Read More
Domestic scrap prices in Turkey have increased over the past seven days, in line with higher costs for imported scrap, sources said on Monday February 4.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap was TRY1,595-1,690 ($306-324) per tonne delivered on February 4, rising from TRY1,500-1,660 per tonne last week.https://www.metalbulletin.com/My-price-book.html?Price=...Read More
Seaborne iron ore prices were flat on Monday February 4 as the global market's biggest buyer, China, started its week-long Lunar New Year holiday.MB 62% Fe Iron Ore Index: $85.53 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $86.37 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $87.32 per tonne cfr Qingdao, unchanged. MB 58% Fe Premium Index: $78.7...Read More
Seaborne coking coal spot prices were stable on Monday February 4, amid a lull in trading with China off for Lunar New Year holiday."With the port issues in China and market participants away the whole week, we are waiting for seaborne coking coal prices to soften back to the $190s per tonne [fob Australia] level," an Indian end user said, opting to stay on the sidelines till the Chinese buyers ar...Read More
In a continued uptrend, the three-month nickel price is now trading above $13,000 per tonne for the first time since August 2018, and is up just under 24% from the start of the year when nickel futures were trading under $11,000 per tonne. Click...Read More
Aluminium billet premiums in Europe are under pressure after US sanctions against Russian producer UC Rusal were removed, yet primary aluminium premiums have moved in the opposite direction. Billet premiums in Italy and Spain were the most affected with increased availability of material and competitively lower offers pushing the market down. Fastmarkets assessed the premium for aluminium bil...Read More