Physical iron ore prices showed only small changes, or did not change, on Friday April 26 amid mixed news in the market.MB 62% Fe Iron Ore Index: $93.58 per tonne cfr Qingdao, up by $0.08 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.36 per tonne cfr Qingdao, up by $0.08 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $96.03 per tonne cfr Qingdao, up by $0.05 per tonne.MB 58% Fe Premium Index...Read More
Eastern promise for PolarXSPONSOREDpolarxWith construction of the Pumpkin Hollow underground mine proceeding on schedule and within budget to kick-start a copper mining revival in the Yerrington Valley by the December quarter, Nevada CopperRead More
Eastern promise for PolarXSPONSOREDpolarxThe Phoenix, Arizona-based miner reported adjusted net earnings of US$67 million or 5c per share, compared to non-GAAP earnings of $679 million or 46c per share a year earlier. Analysts had on average called for earnings of 7c per share.Net income in the March period totaled $31 million or 2c per share, down from $692 million or 48c in the same period a yea...Read More
Eastern promise for PolarXSPONSOREDpolarxCash and cash equivalents decreased $80.7 million during the quarter from $815.4 million to $734.7 million. Cash used in investing activities increased to $182 million from $150.7 million in the prior year period."This is a very exciting time for Lundin Mining. We are pleased with our results in the first quarter of 2019 with all mines operating well," said...Read More
Eastern promise for PolarXSPONSOREDpolarxCITIC is buying 153.8 million Ivanhoe shares at C$3.98 per share (C$612 million), a premium of 29% over the last closing price, which will boost its ownership stake from 19.3% to 29.9%.CITIC Metal's second major investment in Ivanhoe in less than a year will boost the company's available cash position to $1.3 billion when it closes in September, almost doub...Read More
Generally London Metal Exchange prices have been weak in recent days and the strong dollar has been a factor in that, but dip-buying appears to be providing support in morning trading on Friday April 26. Base metals Base metals prices on the LME were for the most part firmer across the board this morning, with copper, nickel, zinc and lead prices up by either side of 0.6%, while aluminiu...Read More
Zinc's three-month price on the London Metal Exchange ticked higher during morning trading on Friday April 26, making headway back towards $2,800 per tonne and shrugging off fresh inflows of just under 4,000 tonnes into European locations.This month, more than 30,000 tonnes of zinc have been delivered into LME-registered warehouses, with over 20,000 tonnes sent to European warehouses in Rotterdam,...Read More
Generally London Metal Exchange prices have been weak in recent days and the strong dollar has been a factor in that, but dip-buying appears to be providing support in morning trading on Friday April 26. Asian equities generally weaker this morning Dollar index extends gains Market waiting for US GDP data Base metals Base metals prices on the LME were for the most part firmer across the...Read More
Only nickel prices on the Shanghai Futures Exchange managed to make significant headway during morning trading on Friday April 26, with the rest of the complex struggling against a firm US dollar.The most-traded June nickel contract on the SHFE stood at 98,350 yuan ($14,594) per tonne as at 10.22am Shanghai time on Friday, up by 0.7% or 650 yuan per tonne from Thursday's close of 97,700 yuan per t...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday April 26:Minor metals Bismuth MB China domestic, yuan/tonne: 46,000-47,000 yuan per tonne from 46,800-47,800 yuanCadmium MB free market min 99.99%, cents/lb: 135-143 per lb from 137-143Chromium MB free market alumino-thermic, $/tonne: $8,200-8,700 per...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Following is a link:http://www.equityclock.com/2019/04/25/stock-market-outlook-for-april-26-2019/Note seasonality chart on Durable Goods OrdersObservationTechnicals on China deteriorated. Shanghai Composite broke below its 20 day moving average, short term momentum indicators turned lower and strength relative to the S&P 500 Index turned negative. Related North American equities (Materials, En...Read More
Swedish steel trader BE Group believes that the second quarter of 2019 will be positive for the company's principal markets, it said on Thursday April 25."Demand in the next quarter is expected to remain strong in the company's main markets," president and chief executive officer Anders Martinsson said."Steel prices are expected to stay at the same level as in the first quarter, and the prices of...Read More
Monthly European alloy surcharges for stainless steel products have increased for May due to the euro's weak position against the dollar, Fastmarkets heard on Friday April 26.The May surcharge for grade-304 cold-rolled (CR) stainless sheet has increased to ?,?1,410-1,450 ($1,571-1,616) per tonne, a gain of ?,?20-23 per tonne from April levels, according to data released by Outokumpu, Acerinox and...Read More
China's leading stainless steel mills - Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - have released their May tender prices for high-carbon ferro-chrome this week, which are 50 and 200 yuan ($7.40 and 29.70) per tonne lower month on month. Tisco announced its May tender price for high-carbon ferro-chrome at 6,900 yuan per tonne on Wednesday April 24, a drop of 50 yuan per tonne from...Read More
In January 2018, two significant market events occurred nearly simultaneously. Major U.S. stock market indexes peaked and volatility indexes extended one of their longest streaks of low volatility in history. Investors were happy, complacency ruled the day and all was right with the world.Then markets were turned upside down in a matter of days. Major stock market indexes fell over 11%, a technica...Read More
The first-quarter GDP number was released this morning. And at 3.2%, it came in far above estimates. Consensus was about 2.3%. It was also the highest Q1 GDP print since 2015.But there's probably less here than meets the eye.About half the GDP gain came from a surge in inventories and a sharp reduction in the trade deficit, neither of which is sustainable. They are likely one-time boosts.The econo...Read More
More Americans than ever are behind on their car payments.The number of loans at least 90 days late exceeded 7 million at the end of last year, the highest delinquency rate since 2012, according to the Federal Reserve Bank of New York.Consumers paid on average a little more than $36,000 for a new car, up roughly 3%, according to Kelley Blue Book. And if you're a savvy shopper, you know very well t...Read More
The price of alloy steel scrap in Europe and the UK have decreased this week following lower nickel and ferrous scrap prices. The London Metal Exchange nickel price was the main driver behind the decline, having fallen to $12,345-12,350 per tonne on April 26 from $12,690-12,700 per tonne on April 18. Austenitic alloy scrap prices, for which nickel values are the most significant influence, reacted...Read More