Trevali’s wholly-owned Caribou Mine and Mill Complex consists of a developed underground mine with significant resources of zinc-lead-silver-copper-gold, a fully permitted 3,000-tonne-per-day processing mill, flotation recovery plant, metallurgical and geochemical laboratories, and a tailings treatment facility, all located approximately 50-km west of Bathurst, New Brunswick, Canada.Trevali...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets at the beginning of this week due to poor demand for finished steel and expectations of further prices decreases, sources said on Monday April 8.There was only one deal for scrap for import into Turkey last week, done on April 5. A steel producer in the Marmara region booked a European cargo, comprising 12,000 tonnes of...Read More
Turkish domestic scrap prices have gone down slightly over the past seven days in line with falling imported scrap values, sources said on Monday April 8.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,695-1,870 ($301-332) per tonne delivered on Monday, widened downward from last week's TRY1,700-1,870 per tonne.This slight change came after a numb...Read More
(Updates prices) * Spot prices recover further from last week's 10-week low * Gold specs cut net long positions in week to April 2 * SPDR gold holdings fell about 3 percent last week * Platinum hits its highest since May 2018 at $914.74/ozBy Sumita LayekApril 8 (Reuters) - Gold prices rose to a more than aone-week peak on Monday as the dollar slipped on slow U.S. wagegrowth last month and a rally...Read More
Anglo American plans to use technology to push its standards to global benchmarks and then take them even further, allowing it to cut costs and improve productivity, Hennie Faul, chief executive officer of the mining company's copper business, has said.The UK-listed miner is seeking to ensure a continuous step-change in performance at its operations and has been working with what Anglo's chief exe...Read More
OAKVILLE - Ontario's government is standing up for the people by introducing a series of transparency measures that will prevent the federal government from hiding the true cost of its job-killing carbon tax."The people of Ontario deserve to know the full truth about how the federal carbon tax will make their lives more unaffordable," said Greg Rickford, Minister of Energy, Northern Development an...Read More
Progress in US-China trade negotiations over the weekendhelped push up base metals prices on the London Metal Exchange in early morning trading on Monday April 8. Further progress on US-China trade negotiations was reported over the weekend by Chinese state media CCTV. The overall tone was positive, with CCTV claiming that both sides are working on a draft to address technology transfers, pro...Read More
Fastmarkets hosted a free web seminar with the London Metal Exchange on Monday April 8 to introduce the new LME cobalt contract, cash-settled against Fastmarkets' benchmark cobalt price. If you missed it, follow the link below to listen to the free recording. Introducing the new Fastmarkets-settled LME cobalt contract During the web seminar we discussed: Fastmarkets' price discovery...Read More
If you're a Tesla (NASAQ: TSLA) bear, you've been having a good year, so far.Between battles with the SEC and lower-than-expected delivery numbers, Elon Musk and Tesla have recently been the target for extreme criticism - mostly launched by those who have been excessively critical of the company since it first went public at $19.00 a share.But I'm not here to bury Tesla.Plenty of others are doing...Read More
The benchmark standard-grade cobalt price rebounded in the last week of March, after having been under pressure during the previous five months, when traders and consumers returned to the spot market to restock following a rundown in inventories.Price moves Fastmarkets' standard-grade cobalt assessment rose 2.2% to $13.75-14.4 per lb on Friday March 29, the last pricing session in March. The...Read More
President Trump denounced wind energy last week at the National Republican Congressional Committee fundraiser in Washington, D.C."If you have a windmill anywhere near your house, congratulations, your house just went down 75% in value. And they say the noise causes cancer, you tell me that one, OK?" the President said, imitating the whirring sound made by wind turbines.The comment has, of course,...Read More
Fastmarkets will change the calculation basis for the China cobalt sulfate, Co 20.5% min, ex-works adjustment to the standard-grade cobalt low-end price to 100% Co basis from the current Co 20.5% basis, effective on Wednesday April 10. In addition, Fastmarkets also will also change the name of this assessment to China cobalt sulfate, Co 20.5% min, ex-works, adjustment to standard-grade cobalt low-...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) remained slow over the past week, with no change in prices, sources told Fastmarkets on Monday April 8.Fastmarkets' weekly price assessment for CIS-origin hot-rolled coil exports was unchanged at $500-515 per tonne fob Black Sea on April 8.Russia-origin HRC was on offer at $515 per...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index finished hammering out a bottom at the 1120-1125 level (completing what looks like a triple bottom) in the first day or two of last week. The INK Canadian Insider Index then raged 23 points higher by week's end for a gain of 2%, closing at 1146.95, just off its highs. A mere t...Read More
China's domestic and export prices for hot-rolled coil surged on Monday April 8 on improved sentiment, which took many overseas buyers by surprise.DomesticEastern China (Shanghai): 3,950-3,970 yuan ($588-591) per tonne, up 60-70 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, up 50-60 yuan per tonneThe day's price increases were largely attributed to the strength of the iron or...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 8 that are worth another look.The World Trade Organization handed a victory to Russia in a Ukrainian transit dispute in its first-ever ruling on a national security exemption, which could have profound implications for pending Section 232 disputes at the WTO and potential automobile tariffs to be imposed by United Stat...Read More
The price of steel rebar and wire rod exported from the Commonwealth of Independent States (CIS) decreased by $5 per tonne over the week, sources told Fastmarkets on Monday April 8.Fastmarkets' weekly assessment of the price of CIS export wire rod was $505-515 per tonne fob Black Sea on April 8, moving down from $510-520 per tonne fob a week earlier.The lower end of the assessment is reflective of...Read More
China's domestic and export prices for rebar increased sharply on Monday April 8 following gains in the billet and futures markets.Domestic Eastern China (Shanghai): 3,980-4,030 yuan ($592-600) per tonne, up 80 yuan per tonneNorthern China (Beijing): 3,950-3,980 yuan per tonne, up 40-50 yuan per tonneBuying interest picked up during the day amid increases in both the billet and futures markets, wh...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets at the beginning of this week due to poor demand for finished steel and expectations of further prices decreases, sources said on Monday April 8.There was only one deal for scrap for import into Turkey last week, done on April 5. A steel producer in the Marmara region booked a European cargo, comprising 12,000 tonnes of...Read More
Turkish domestic scrap prices have gone down slightly over the past seven days in line with falling imported scrap values, sources said on Monday April 8.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,695-1,870 ($301-332) per tonne delivered on Monday, widened downward from last week's TRY1,700-1,870 per tonne.This slight change came after a numb...Read More