Turkey imported 461,048 tonnes of flat steel in March 2019, down by 32.4% from the corresponding month in 2018, when 682,071 tonnes arrived in the country, according to the Turkish Statistical Institute (TUIK).The country's total flat steel imports in January-March 2019 totaled 1,460,106 tonnes, 22.11% less than the 1,874,458 tonnes imported in the same period of 2018, due to the country's weak do...Read More
European wire rod producers are to call on the European Union to review its import safeguard quota for non-alloy and alloy wire rod products, they said this week."Since the imposition of safeguard measures by the European Commission (EC), non-integrated wire rod processors have seen certain quotas vanish at an unprecedented pace," the European Non-Integrated Wire Rod Processors Association (E...Read More
Published 23 Hours AgoUpdated8 Hours AgoReuters Edgar Su | ReutersGold prices hit their highest in more than three weeks on Wednesday as renewed concern over the U.S.-China trade dispute and its potential impact on global growth curbed investors' appetite for risk, spurring some demand for safe-haven assets.Spot gold rose 0.4 percent to $1,289.09 per ounce, having hit its highest since April 15 a...Read More
Investing.com - Prices of the safe-haven gold rose on Wednesday in Asia as risk sentiment took another hit after the U.S. confirmed it would hike tariffs on $200 billion worth of Chinese goods.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were up 0.2% at $1,287.55 per ounce.The precious metal attracted some safe-haven bids today after U.S. Trade...Read More
Ecuador-focused miner SolGold (LON, TSX:SOLG) said Tuesday that recent results from the Porvenir project, held by its wholly owned subsidiary Green Rock Resources, suggest the presence of a "significant" copper-gold system.Mapping and sampling, SolGold said, has extended copper-gold mineralization at Cacharposa Creek on Porvenir, located in southern Ecuador. The samples, the company noted, show...Read More
Lack of demand and trading activity combined this week to put new pressure on CIS long steel export prices.The situation was aggravated by increased competition with Turkish suppliers trying to overcome difficulties related to protectionism in Europe and the United States and a weakening domestic economy. "We are about to finalize a rebar sale at $460 per tonne fob Black Sea," a Ukr...Read More
Prices for mesh-quality wire rod in Europe were stable this week amid limited market activity, sources told Fastmarkets on Wednesday May 8.Fastmarkets' assessment of the domestic mesh-quality wire rod price in Southern Europe was ?,?525-550 ($588-616) per tonne on May 8, unchanged for the past three weeks.The price has stayed within the range of ?,?525-560 per tonne since July 4 last year. But des...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 8.Please click...Read More
Chinese nickel premiums were unchanged at a 14-month high as of Tuesday May 7, according to Fastmarkets' latest assessments, in a week of multiple holidays and subdued trading.Elsewhere, the premium on European cathodes stabilized while those of briquettes continued lower. In the United States, similarly, the briquette premium dipped slightly while that of 4x5 cut cathodes was unchanged. Briquette...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 8 that are worth another look.Jiangxi Copper has become the first Chinese company to receive the green light to set up a large-scale copper scrap processing facility in Malaysia after China's clamp down on copper scrap imports led to mass scrap diversion to Southeast Asia, two company officials directly involved in the mat...Read More
Published 10:14PM ET Sun,5 May 2019Updated 2:53PM ET Mon,6 May 2019Reuters Leonhard Foeger | ReutersGold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.Gold edged up on Monday as a slide in global share markets after Trump administration's threat of further tariffs on China prompted investors to favor safe-haven assets, but bullion's upside was capped by a firm dollar....Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
Nevada Copper Corp's (TSX: NCU) announced a series of deals on Wednesday to finance its 100%-owned Pumpkin Hollow copper project through to completion targeted for the final quarter of the year.The company HQ'ed in Reno, Nevada entered into a $115 million credit agreement with Germany-based KfW IPEX-Bank and also announced a public share offer and concurrent private placements to raise $30m, two...Read More
President Donald Trump issued an executive order on Wednesday prohibiting the purchase of Iranian iron, steel, aluminum and copper, ratcheting up tensions with the Islamic Republic less than a day after it declared it may begin enriching uranium again in two months.Trump said in his order that the prohibition on trading in the Iranian metals - the country is the world's 18th largest steel exporter...Read More
Canadian miner Kinross Gold (TSX:G) (NYSE:KGC) is evaluating options for returning to long-term production in Chile, the world's top copper miner, where the company already has two key assets.One alternative the company is very keen on is resuming mining at its La Coipa gold and silver mine, located in Chile's northern Atacama Region, it said while delivering first quarter results on Tuesday.Alte...Read More
The three-month price of zinc on the London Metal Exchange softened by a little less than 2% at the close of trading of Wednesday May 8, with continued inflows of material into LME-registered locations in European putting pressure on prices to move lower.Volumes traded for the galvanizing metal were particularly high over the afternoon, with more than 12,900 lots changing hands by the close.The th...Read More
Zinc premiums in Europe dropped while the backwardation remained wide this week, while lower lead prices increased spot interest in India and Southeast Asian countries, driving lead premiums higher. The zinc premium for Rotterdam is at its lowest level since August 2009, while the Antwerp level is at its lowest since the price assessment launched in 2017. The backwardation in the London Metal Exch...Read More
The Comex copper price dipped in US morning trading on Wednesday May 8 with lingering fears over the global trade war pressuring metal prices downward.The copper price for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.80 cents to $2.7775 per lb. The red metal has seen heavy selling pressure over the past few weeks with a stronger dollar and uncertain trade...Read More
Dealers preparing for Las Vegas shows hoping steadyUS retail market will stimulate diamond trading. Rising expectations forGemGen??ve fair amid positive luxury demand. Good opportunities for high-endbuyers after 3 to 5 ct. prices dropped significantly (3 ct. RAPI -6.1% sinceJan. 1). Rough trading cautious with high auction prices and tightmanufacturing profits. Sightholders anticipate stable price...Read More
A London judge rejected fugitive diamantaire Nirav Modi's third attempt to get bail, after his lawyer said that Indian authorities have seized or liquidated the equivalent of $860 million of his funds and he doesn't have access to enough resources to flee.Judge Emma Arbuthnot ruled that even though Modi was willing to double his proposed security to 2 million pounds ($2.6 million), the risk of int...Read More