The benchmark secondary aluminium alloy A380.1 price in the United States declined further on Thursday May 9, with alloy producers struggling to sell metal to disinterested die-casters, sparking steep discounts in the spot market.Fastmarkets AMM's A380.1 price assessment narrowed to 79-80 cents per lb on May 9. That level has not been seen since early August 2009, situating the current price just...Read More
Spot demand for aluminium billet in the United States has remained low, forcing producers to offer discounts in order to move material and pushing the 6063 extrusion billet upcharge to its lowest since late November 2017.Fastmarkets AMM assessed the 6063 extrusion billet upcharge delivered to the US Midwest at 10-11 cents per lb on Friday May 10, slipping by a penny from 11-12 cents per lb in the...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Friday May 10, with nickel futures climbing 1.6% while the three-month lead price failed to recover from a three-year low. Despite the US government's decision to hike tariffs on $200 billion worth of Chinese goods, potentially escalating trade tensions between the two countries, base metals prices remain...Read More
The United States government has increased its existing 10% additional duties on imports of base metals, ferrous metals and associated products from China to 25% from Friday May 10, citing a lack of progress on ongoing trade talks. These duties will be imposed on Chinese exports to the US of tariff lines including items and products of copper, zinc, nickel, iron and steel and other base metals. A...Read More
An overview of the battery raw materials markets and their price moves.Read More
The Comex copper price was dragged lower in US morning trading on Friday May 10 by an escalation in the US-China trade war, which market participants had previously expected to be nearing a peaceful conclusion. The copper price for July settlement on the Comex division of the New York Mercantile Exchange dipped 0.60 cents to $2.7655 per lb. The contract is now on a four-day losing streak and is tr...Read More
Cold-rolled coil and coated steel prices in the United States were unchanged over the past week, with market participants holding off their buying activity due to fears of potential further price drops ahead.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil remained at $40 per hundredweight ($800 per short ton) on Thursday May 9, unchanged from one week earlier. The domestic h...Read More
White Gold Corp a force in Yukon as exploration drive reaps dividendsSPONSOREDwhite gold corpQuality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumAltech ticks boxes on path to production SPONSOREDaltech chemicals"It's not regulation that fails, it's [the industry] as engineers and operators"SPONSOREDsrk consultingAfter months of speculation, Rio confirmed...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesUnder the new leadership of Juan Camilo Nariño, who took over as president of the association at the end of 2018, the congress put establishing more meaningful and inclusive relationships withRead More
While US-China trade talks continue, the market seems to be clinging on for an eleventh-hour deal this morning, Friday May 10, because key markets are holding up surprisingly well. But, if a deal does not miraculously emerge soon then further disappointment is likely to set in.US raises tariffs on $200 billion worth of Chinese imports to 25% China’s CSI 300 is up by 3.2%, other Asian equity m...Read More
Export prices for Brazil-origin steel slab went downward in the week ended Friday May 10, with buyers and sellers negotiating over the final batches in the annual quota for the semi-finished product to be imported into the United States.Fastmarkets' weekly assessment of Brazil export slab prices dropped to $520-540 per tonne fob on May 10, from $540-550 per tonne fob a week earlier.Offers to the U...Read More
Coated flat steel prices in Turkey fell over the week ended on Friday May 10, with demand weak in the domestic market.Demand in the local market remained poor because of the continuing weakness in the Turkish lira and uncertainty following elections.The lira was trading at TRY100 to $16.27 on May 10 compared with TRY100 to $17.47 on April 12 and TRY100 to $18.76 on March 1, according to exchange r...Read More
Domestic prices for rebar in Poland have moved down over the past week, reflecting an anticipated fall in scrap costs, sources told Fastmarkets on Friday May 10.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland moved down to 2,170-2,240 zloty ($566-584) per tonne ex-works on May 10, from 2,210-2,270 zloty per tonne ex-works a week earlier.The assessment reflected d...Read More
German industrial conglomerate ThyssenKrupp is planning to cut 6,000 jobs over the next three years, including 2,000 jobs in its steel business, chief executive officer Guido Kerkhoff said in a conference call on Friday May 10.ThyssenKrupp remains open to consolidation opportunities for its European steel business, which will be reintegrated into the parent company, following news of the European...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points in pre-opening trade after the U.S. government raised its tariffs to 25% from 10% on Chinese goods valued at $200 billion. Talks with China continue. The Shanghai Composite Index gained 3.10% to 2,939.21 in overnight trading.Index futures were virtually unchanged following release of the April Consumer Price...Read More
The average life expectancy for those born in 2018 in the United States is 76 for males and 81 for females. Compare these figures to almost 80 years ago, where males born in 1940 lived until age 61 and females age 65, and there's no question we are living longer. But eventually we're all going to die. And as morbid as that sounds, there are some important things you need to consider before your ti...Read More
Premiums paid for higher-quality iron ore cargoes should be supported by the current uptrend in steel prices and by higher ore demand from China, Vale's chief financial officer, Luciano Siani, told investors in a conference call on Friday May 10.The higher prices that customers were traditionally willing to pay for top-grade ores declined during the first quarter of 2019. More recently, steel pric...Read More
ELKO, Nevada, May 10, 2019 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today announced that it has issued a letter to its shareholders outlining the Company's recent and expected milestones, as it continues to advance its Copper King and Keystone assets. As U.S. Gold Corp. lays the groundwork for future success, highlights of the Company's recent initiatives include: Key Achievements:Regaine...Read More
The price of shredded ferrous scrap imported into India dropped by $6 per tonne this week, reflecting a souring of market sentiment, sources said. Fastmarkets MB's weekly index for containerized imports of shredded scrap into India went down by $6.56 per tonne to $325.03 per tonne cfr Nhava Sheva on Friday May 10 from $331.59 per tonne cfr Nhava Sheva a week previously.Deals heard on the market fo...Read More
The Brucutu iron ore mine from Brazilian company Vale is currently operating on dry stacking at less than a third of its capacity, the miner's chief financial officer Luciano Siani said in an earnings conference call on Friday May 10."We are currently producing [at a rate of] a little less than 10 million tonnes [per year] at Brucutu," the executive stated. The mine has an output capacity of aroun...Read More