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
The alumina index on a fob Australia basis is down by 3.4% week on week and below $280 per tonne for the first time since May 2017. Fastmarkets' daily alumina index, fob Australia fell to $279.29 per tonne on Wednesday October 9, from $280.64 per tonne the previous day and from $289.53 per tonne on October 2. The index is now down 29.5% from the start of the 2019. Key drivers: The...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 9.Please click...Read More
The US tin premium experienced an uptick for the first time in six weeks on Tuesday October 8, while Europe and China premiums remained stable. Falling supply prompts US premium uptick European market eyes long-term contract negotiations China's absence for National Day holiday limits Asian tin premiumsUS tin premium tick up The tin premium ticked up in the United States. This reflected reduced do...Read More
A blockade that had restricted production and exports of lead and zinc concentrates from Newmont Goldcorp's Pe??asquito mine in Mexico has been removed, the company said on Wednesday October 9. The blockade, which began on September 16 and is the second major disruption at the mine this year, ended yesterday. "Operations at the mine remain temporarily suspended pending further evaluation of t...Read More
Following a period of market research in the copper cathode market, Fastmarkets proposes to launch fortnightly assessments of equivalent grade (EQ) copper cathode premiums, basis cif Europe and Shanghai. The introduction of the premiums will begin Fastmarkets' pricing coverage of non exchange-deliverable copper cathode trade. Fastmarkets has for many years tracked premiums for grade A, exchange de...Read More
Prices for hollow steel sections in the Northern and Southern European domestic markets moved down this week following a drop in feedstock costs and weak demand, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?580-590 ($636-647) per tonne on Wednesday, down from ?,?585-600 per tonne one we...Read More
All tails at the Rook I uranium project will be returned to the underground mine as paste fill. (Image: NexGen Energy)SASKATCHEWAN - Vancouver-based NexGen Energy has released new assays from its phase one drill program at the Arrow uranium deposit on the southwest rim of the Athabasca Basin. The highest results were 33.78% uranium oxide over 12.0 metres and 32.88% over 8.0 metres.The 20 recent ho...Read More
Steelmakers in Northern Europe have decreased their domestic prices for hot-rolled coil (HRC) because they need to secure orders in a slow market, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?440-445 ($483-488) per tonne on October 9, down by ?,?10 per tonne week on week from ?,?450-455 per tonne ex-works....Read More
Prices for steel H-beam in Northern Europe continued to move downward over the past week because of uncertainty created by falls in feedstock costs and persistent weak demand, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540-580 ($592-636) per tonne on October 9, down from ?,?550-590 per tonne on O...Read More
US ferrous scrap export prices leaped overnight on a sale off the East Coast to Turkey, but it remains to be seen whether the market has entered a recovery - or whether the buying mill hoped to use the higher scrap price as leverage to raise rebar prices.An East Coast exporter sold a 40,000-tonne cargo that included 23,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $233 per tonne...Read More
Diversified major Rio Tinto has completed the drilling of ten bulk trenches to conclude its sampling programme on Canadian junior Star Diamond’s Star kimberlite, using a new technology.The trench cutter sampling rig that Rio Tinto Exploration Canada (RTEC) used at Star, which is located in the Star-Orion South diamond project in Saskatchewan, has a design sampling depth of 250 m below the su...Read More
Turkish steel producers resumed booking deep-sea scrap for November shipment after a short break, sources said on Wednesday October 9, although prices have now increased compared with previous bookings due to a lack of supply.One Turkish steel producer booked a scrap cargo from the United States, comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at $2...Read More
JOHANNESBURG (miningweekly.com) – South Africa is one of the world’s top three mega biodiverse nations along with Brazil and Indonesia, said Environment, Forestry and Fisheries Minister Barbara Creecy in her address to the Oppenheimer Research Conference (ORC).“We are thus one of the richest countries in terms of the diversity of plants and animals both marine and terrestria...Read More
Physical iron ore prices dropped on Wednesday October 9 amid soft steel markets and demand concerns over the potential for more steelmaking restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.06 per tonne, down $3.71 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.34 per tonne, down $3.71 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.75 per...Read More
Trading activity in the seaborne coking coal market remained muted on Wednesday October 9 with Chinese buyers' optimism yet to translate into transactions while those elsewhere remained on the sidelines.Fastmarkets indicesPremium hard coking coal, fob DBCT: $146.37 per tonne, up $0.29 per tonnePremium hard coking coal, cfr Jingtang: $159.72 per tonne, up $0.02 per tonne Hard coking coal, fob DBCT:...Read More
More price falls are expected for Japanese H2 scrap in Asia after the Kanto Tetsugen scrap auction closed lower today, Wednesday October 9.The October auction concluded at an average price of ?22,293 ($208.03) per tonne on a free alongside ship (fas) basis this week, down ?2,556 per tonne from last month.A total of 21,100 tonnes was awarded to five buyers. The first buyer was awarded 5,000 tonne...Read More
European iron ore pellet producer Ferrexpo has revised its annual production guidance to 10.4-10.6 million tonnes, compared with 10.6 million tonnes previously, citing "the current market environment", it said on Tuesday October 8.The Switzerland-headquartered company, whose mines are in Ukraine, reported an output of 2.5 million tonnes in the July-September quarter. Of these, 96% consisted of 65%...Read More
Oriole's deepening footprint in West Africa is paying offSPONSOREDoriole resourcesPoster South Africa mine regeneration on trackSPONSOREDorion mineralsSilver Mines times Bowdens to perfectionSPONSOREDsilver mines limitedThe future of mining is (still) peopleSPONSOREDproudfootChief external affairs officer Geoff Healy said the mine was on track to reduce the water drawn from the area. The opera...Read More
Golden Mile goes back to the futureSPONSOREDgolden mile resourcesThe soon-to-be-launched Savant Global Copper Smelting Index reports on smelting plant activity, using 20 high-resolution satellites and the latest AI to cover an estimated 90% of the smelting capacity for copper around the world.The aim of it is to fix the gaps that exist on the coppy supply, which previously suffered from incom...Read More
Golden Mile goes back to the futureSPONSOREDgolden mile resourcesThe company had told the Mining Journal Select Conference in London mid-year it was likely to achieve this deadline.It said yesterday it had started pre-commissioning the process plant's grinding circuit, had recently completed the 120kV power line and stockpiled more than 70,000 tonnes of development ore on surface."We are now in th...Read More