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
First Vanadium president and CEO Paul Cowley at the Carlin vanadium project in Nevada. Credit: First Vanadium.First Vanadium Corp. [FVAN-TSXV, FVANF-OTCQX, 1PY-FSE] has announced a maiden resource estimate for its Carlin Vanadium deposit near Elko Nevada, a move that coincides with a steep rise in the value of the company's stock price.The company said the National Instrument 43-101-compliant esti...Read More
Canadian multi-metal producer Rathdowny Resources has appointed the former Farallon Mining president Dick Whittington to his new role, as announced in a press release from March 1.Whittington has over 40 years' experience in the mining sector and has worked on global projects across Canada, Panama, Papua New Guinea, Australia and Mexico.It was in Mexico that he founded and chaired the Canadian Min...Read More
Three-month base metals prices on the London Metal Exchange were for the most part stronger on the morning of Monday March 4, with all but tin in positive territory. The complex recorded an average gain of 0.4%, while tin was down by 0.1% at $21,630 per tonne.Nickel led on the upside with a 1% gain to $13,305 per tonne, having closed last Friday at $13,175 per tonne, and copper was up by 0.3% at $...Read More
The benchmark standard-grade cobalt price slumped to two-year lows in February amid a surplus of metal, leaving the market to shrug off longer-term bull signs on the supply and demand side. Price moves Cobalt metal prices continued to tumble in February, with concerns of further declines deterring consumers from making large spot purchases. Where possible, buyers have opted to procure cobalt hydro...Read More
* Pound dips after last week's jump * Sterling susceptible to Brexit sentiment * Graphic: World FX rates in 2019* Graphic: Trade-weighted sterling since Brexit vote (recasts, updates prices)By Tommy WilkesLONDON, March 4 (Reuters) - Sterling fell on Monday as PrimeMinister Theresa May's top lawyer tried to clinch a Brexitcompromise with the European Union in a last-ditch bid to winover rebellious...Read More
Key data from the Thursday February 28 pricing session in Europe. Key drivers Cobalt hydroxide payables rose steadily over January and February while metal prices plummeted; lower metal prices are understood to have pushed some artisanal supply out of the market, generating greater interest in traceable units. In real terms, paid prices for cobalt hydroxide continued to slide in February due...Read More
Fastmarkets launched two reference prices for the cobalt hydroxide market on Thursday February 28: a cobalt hydroxide payable indicator, and a cobalt hydroxide index, both min 30% Co, cif China. Fastmarkets launched two reference prices for the cobalt hydroxide market on Thursday February 28: a cobalt hydroxide payable indicator and a cobalt hydroxide index, both min 30% Co, cif China. After a con...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) has been stable over the past week, although insiders' moods have gone in different directions, sources told Fastmarkets on Monday March 4.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $520-530 per tonne fob Black Sea on March 4, unchanged week on week."Buyers in Turkey re...Read More
Turkey's flat steel export volumes rose by 55.37% year-on-year in January, according to the latest data from the Turkish Statistical Institute (TUIK). The main reason for the increase was that the local demand was weak in the country in the last quarter of 2018, when orders to be...Read More
Baby, it's cold outside...Don't put your winter coat away yet. Cold weather, snow, and icy rain are forecast across the 2,600-mile stretch from L.A. to D.C. over the next several days.As a result, it's expected that Americans will keep their heat turned on longer into the season this year - and create a seasonal peak for natural gas demand sometime this week or next.Typically, natural gas demand i...Read More
Turkey's import volumes of flat steel decreased by 27.06% year on year in January 2019, according to the Turkish Statistical Institute (TUIK).The country imported 497,487 tonnes of flat steel in January of this year, compared with 682,069 tonnes in January 2018, TUIK statistics showed.Demand for flat steel in Turkey has been weak since August 2018, when United States president Donald Trump doubled...Read More
Here are five Fastmarkets MB stories you might have missed on Monday March 4 that are worth another look.The Indonesia Commodities & Derivatives Exchange (ICDX) has ended the suspension of key smelter inspector PT Surveyor Indonesia in connection with the launch of its new physical tin contract, which is set to transfer tin exports to bonded warehouses for the first time in the exchange's his...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index added 4.7 points or 0.4% to close at 1157.83. MACD flipped negative to -1.44. RSI dipped nearly 3 points to 75.05 and remains elevated (60 to high 70s range) as it has been since early January.Support is at 1139 (20-day moving average) and 1144. Overhead resistance m...Read More
UK steel industry body UK Steel and steelmaker British Steel have both welcomed a recent government announcement that the UK will formally adopt many of the existing EU trade protection measures for the steel sector once the country leaves the trading bloc.The UK government's secretary of state for international trade, Liam Fox, announced in the House of Commons on February 25 that the UK will ado...Read More
European long-steel buyers resisted higher offers throughout February while demand levels continue to dawdle behind higher raw material prices that pushed some producers to raise offers across the long steel slate.Prices in March will depend on any shift in the balance of power between the high producer offers and the sluggish end-user demand. Producers were unable to affect any of Fastmarkets' Eu...Read More
Turkish steel mills continued to book deep-sea scrap at a slow pace at the end of last week and prices remained largely steady at the start of this week, sources said on Monday March 4.A steel mill in the Iskenderun region booked a European cargo, comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $314.50 per tonne cfr on late Friday or Saturday.The cargo...Read More
Turkish domestic scrap prices have remained largely stable over the past week on moderate demand, sources said on Monday March 4.Fastmarkets' weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,650-1,820 ($307-338) per tonne delivered, narrowing upward from the TRY1,630-1,820 per tonne of last week.This...Read More
Physical iron ore trading was lackluster on Monday March 4 amid declines in the futures markets.MB 62% Fe Iron Ore Index: $87.69 per tonne cfr Qingdao, down $0.23 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.09 per tonne cfr Qingdao, down $0.23 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.88 per tonne cfr Qingdao, down $0.22 per tonne. MB 58% Fe Premium Index: $76.11 per tonne cfr Q...Read More
Buying activity in the CIS export billet market was rather limited at the beginning of March amid a mismatch between producers' offers and customers' bids.CIS producers were insisting on offering at $450-460 per tonne fob Black Sea, customers in North Africa and Turkey were looking for $440 per tonne fob Black Sea and below, while customers in Southeast Asia and the Middle East were ready to pay $...Read More
Import prices for steel slab in Southeast Asia and East Asia were flat during the week to Monday March 4, with the market remaining in a stalemate due to the large bid-offer gap.Fastmarkets' weekly import price assessment for slab imports to Southeast Asia and East Asia was $460-480 per tonne cfr on Monday, unchanged from a week earlier.No transactions were reported, with offers remaining at high...Read More