Prices in the seaborne coking coal spot market failed to get a boost from the return of Chinese participants following the Lunar New Year break on Monday February 11."There is still a lack of clarity on how the customs clearance restrictions on Australian coal will be enforced or to what extent, [and therefore] there are very few transactions at this juncture," a source at a mill in...Read More
China’s return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11. The three-month zinc price led the decline with a 2% drop, while the three-month tin price was do...Read More
Import prices for rebar in Singapore are likely to increase significantly in the near term following surges in steelmaking raw material prices, market sources told Fastmarkets MB. Market participants expect major rebar producers to increase their offers to Singapore buyers on rising ferrous scrap and iron ore prices.New offers for containerized heavy melting scrap 1&2 (80:20) into Taiwan are expec...Read More
Iron ore futures in China surged on Monday February 11, with the most-traded contract opening 8% above the last settlement price with the return of Chinese market participants from a week-long break.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,870 yuan ($574) per tonne, up 40 yuan per tonneMay hot-rolled coil: 3,757 yuan per tonne, up 38 yuan per tonneDalian Comm...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.Tapestry (TPR $33.86) is expected to open lower after MKM Partners lowered its target price to $52 from $63.Applied Materials (AMAT $39.78) is expected to open lower after Stifel Nicolaus lowered its target price to $53 from $63.Cameco (CCO $16.39 Cdn) is expected to open higher after rep...Read More
China's rebar prices increased on Monday February 11 in both the domestic and export markets amid higher billet and futures prices. Domestic Eastern China (Shanghai): 3,830-3,880 yuan ($568-575) per tonne, up 120-130 yuan per tonneNorthern China (Beijing): 3,800-3,830 yuan per tonne, up 90-100 yuan per tonneBillet prices rose after futures opened higher, leading to bullish sentiment...Read More
Key data from the pricing sessions in London and New York on Monday February 11.United States US prices drifted downward by $0.02 per lb on the low end for domestic silicon, grade 553, free carrier, to $1.14-1.18 per lb, on plentiful supply, with offers reported at $1.14 per lb and sales at $1.16 per lb. Spot buying was even more limited than is typical in January because so many market participan...Read More
"From time immemorial proverbial wisdom has taught the virtues of saving," wrote Henry Hazlitt, "and warned against the consequences of prodigality and waste."Hazlitt authored his masterly primer on economics, Economics in One Lesson, in 1946.Yet he etched it in the rock of ages with its timeless insights."But there have always been squanderers, and there have apparently always been theorists to r...Read More
High manganese ore prices since 2017 have enabled South African manganese miner Tshipi to generate significantly higher cashflow than expected, allowing for dividends in excess of the initial capital cost to develop the mine.For the second half of 2019, Tshipi has declared a dividend of 1.1 billion rand, its owner - Jupiter Mines - has announced. The mine will continue to produce 3 million tonnes...Read More
The European antimony market was quiet in the week ended Friday February 8, with Chinese market participants still away for the Lunar New Year holiday.Fastmarkets' price assessment for trioxide-grade antimony, in-warehouse Rotterdam, was stable week on week on Friday at $7,800-8,000 per tonne.The price for MMTA standard-grade II antimony, in-warehouse Rotterdam, was also unchanged on February 8 at...Read More
China's return to the market after a week-long break for Lunar New Year has not brought with it a rush to restock and that has led to some disappointed selling across the base metals traded on the London Metal Exchange, with the complex down by an average of 0.9% this morning, Monday February 11.The three-month zinc price led the decline with a 2% drop, while the three-month tin price was down by...Read More
Cobalt buyers held back as much as they could last week as prices continued to fall, with good availability of cut cathode creating the expectation that cheaper prices will still be available in the coming weeks."There's still a lot being offered - it's just relentless. It's a massive buyers' market," a trader source said. Fastmarkets' benchmark standard-grade cobalt price assessment stood at $17....Read More
Ammonium paratungstate (APT) and ferro-tungsten prices were unchanged in Europe last week with China away from the market for a one-week holiday. The benchmark ammonium paratungstate price was unchanged at $260-270 per mtu on Friday February 8 - a price level it has maintained for the past five weeks with little spot business being transacted. "It's been quiet on the consumer...Read More
Major steel mills in China have concluded their ferro-silicon tenders for February, which have fallen again month on month on weak demand and oversupply, sources in China said. Both Hebei Steel, the country's largest mill, and Jiangsu Shagang last week released tender purchase prices for ferro-silicon delivered in February. Hebei Steel's latest tender price is 6,290 yuan ($932.32) per tonne for Fe...Read More
A show-stopping collection of minerals valued at $3.2 million has been donated to the Mines Geology Museum. The 27 specimens - remarkable for their pristine condition, color and crystal form - come from the personal collection of Eric Long, an oil and gas industry veteran based in Austin. "A donation of this caliber truly elevates the quality of our exhibits and also heightens the experience f...Read More
Megan Diercks, a French instructor at Colorado School of Mines, has been awarded the rank of chevalier by the Order of French Academic Palms.The highest nonmilitary honor that a noncitizen can receive from the French government, the Palmes Acad?(C)miques recognizes those who have rendered eminent service to French education and have contributed to the prestige of French culture. The Order of the A...Read More
The Center for Space Resources at Colorado School of Mines was recently highlighted in The Denver Post as part of an article about proposed federal legislation to create a NASA-led Space Resources Institute. The Space Resources Institute Act, introduced last week in the U.S. House by Colorado Reps. Scott Tipton and Ed Perlmutter, asks NASA to investigate the establishment of a Space Resources Ins...Read More
Kerr Mines (TSX: KER; US-OTC: KERMF) expects to start mining and stockpiling mineralized material from its Copperstone gold project in Arizona in the fourth quarter of this year with production starting in the first quarter of 2020, CEO Claudio Ciavarella says.The fully permitted project is the underground extension of the same orebody that Cyprus Amax mined as an open pit between 1987 and 1993, a...Read More
In 1981, the chemical engineering group at Cambridge, Mass.-based MIT received a U.S. Department of Energy grant to study technical innovation in the processing industries as part of a strategy to mitigate the impact of another oil crisis like the one that threatened the U.S. in the 1970s.Thirty-eight years later, Aspen Technology (NASDAQ: AZPN) has a market cap approaching US$7 billion-greater th...Read More
American Lithium (TSXV: LI; US-OTC: LIACF) is about to drill its 6.3 sq. km Tonopah lithium claystone (TLC) project near Tonopah, Nevada.Over the next six weeks the company will drill 1,600 metres across 10 to 20 holes. It will average 100-metre depths, drilling up to 160 metres below surface.The company had previously collected 22 grab samples at TLC that graded as high as 1,380 parts per million...Read More