“Does this look like a recession to you?”That was the question Fahad Khalid from Jaguar Analytics asked over and over again as he showed visuals of what is going on with our economy.“Seriously, does this look like a recession to you?”This fiery presentation happened at the TradersEXPO conference that I attended in Las Vegas this week. And Fahad’s insights were easily...Read More
The price of shredded ferrous scrap imported into India rose this week, reflecting higher offer prices in the market, but weak demand is damaging sentiment, sources told Fastmarkets MB on Friday November 16.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $358.81 per tonne cfr Nhava on November 16, up from $355.30 per tonne cfr Nhava on November 9.Offer pric...Read More
The Turkish steel mills resumed a watchful position in the deep-sea scrap markets on Friday November 16, with no bookings made and prices remaining unchanged, Fastmarkets was told.After the news of two deep-sea bookings heard on November 15 at $335 per tonne cfr for HMS 1&2 (80:20) both from the Baltic Sea and US suppliers, the mills in Turkey returned to being quiet at the end of the week.News of...Read More
Trading activity in the export market for pig iron from the Commonwealth of Independent States faded after active sales to the United States earlier this month.Fastmarkets MB's CIS export price assessment for high-manganese pig iron was at $365-370 per tonne fob Black Sea on Thursday November 15, unchanged from the previous week's assessment but down $5 down at the high end from the November 1 ass...Read More
Base metal stocks on the Shanghai Futures Exchange (SHFE) showed divergent trends during the week ending Friday November 16, with nickel stocks surging 10.5% on a weekly basis. Deliverable nickel stocks at SHFE-approved warehouses moved up 1,558 tonnes or 10.5% week on week to 16,387 tonnes.Out of the four provinces in China, Shanghai was the only province to witness a nickel stock increase, where...Read More
Base metals on the London Metal Exchange had a mixed start in morning trading on Friday November 16, with investor sentiment improving amid easing US-China trade tensions and a slight downturn in the US dollar index.Both lead and nickel futures were the biggest climbers over the morning, appreciating more than 1% respectively amid depleting LME stocks and strong demand from the electric vehicle an...Read More
Seaborne iron ore prices rose on Friday November 16, amid a likely shortage in the supply of Australian fines.MB 62% Fe Iron Ore Index: $75.31 per tonne cfr Qingdao, up $0.38 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.11 per tonne cfr Qingdao, up $0.38 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.40 per tonne cfr Qingdao, up $0.43 per tonne.MB 58% Fe Premium Index: $64.73 per tonne...Read More
The Singapore Exchange (SGX) will launch high-grade iron ore derivatives settled against the daily MB 65% Fe Iron Ore Index published by Fastmarkets MB in the first week of December."The SGX MB Iron Ore cfr China (65% Fe Fines) over-the-counter swap contracts for clearing and the futures equivalent for trading and clearing will be introduced on Monday December 3," the exchange said on Friday Novem...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 November 16:Bismuth MB China domestic, yuan/tonne: 50,000-52,000 yuan per tonne from 48,000-51,000 yuanChromium MB free market alumino-thermic, $/tonne: $10,700-11,100 per tonne from $10,800-11,200Cobalt MB free market high grade, $/lb: $33.50-34.25 per lb from $33.50-34.50Cobalt MB free market low grade, $/lb: $33.50-34.20...Read More
The manganese flake market is one of the most volatile markets today and will remain so for the near future, Arnaud Vigier, the vice president for manganese alloys sales at Eramet, told delegates of Fastmarkets' International Ferro-alloys conference in Lisbon on November 11-13. Manganese flake prices started 2018 at $1,800-1,950 per tonne and have been moving upward for most of the year mainl...Read More
The Colorado School of Mines Dance Team has been awarded the Mayor's 2018 Gold Mine Award for Excellence.The student group was one of four award winners at the City of Golden Mayor's 2018 community celebration on Oct. 30. The Gold Mine Award recognizes contributions to the betterment of Mines and the Golden community. Specifically, the dance team was honored "for their contribution to the Golden...Read More
The European stainless steel market was stable this week, but with prices remaining depressed because of competition among sellers, Fastmarkets heard on Friday November 16.Imported material continued to arrive from Asia and combined with domestic materials to give consumers a glut of purchasing options.But although it remains a buyers' market, prices have not moved any lower...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday November 16:Aluminium scrapFloated Frag: ?,?1,000-1,050 per tonne from ?,?990-1,050Mixed turnings...Read More
Asia ferrous scrap prices are still falling this because because of weak demand from steel mills and ample supply from various origins.There were further price falls in the key import markets of Taiwan and Vietnam falls across most grades of heavy melting scrap, with containerized prices for Vietnam matching that of Taiwan.Vietnamese containerized ferrous scrap prices typically fetch a premium of...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday November 16.Base metals prices on the Shanghai Futures Exchange were mixed during Asian morning trading on Friday, with zinc, copper and tin registering gains while the rest of the complex weakened.Check Fastmarket MB's live futures report here. The availability of copper scrap units in...Read More
OceanaGold (TSE: OGC) is interested in buying Bravada Gold Corporation's (TSXV: BVA) low-sulfidation Highland gold/silver project, located within the Walker Lane Gold trend in western Nevada, USA.Both companies have signed a letter of intent which stipulates that Oceana has until December 15, 2018, to accept the opportunity of earning up to 75% interest in the project.In detail, Oceana may earn a...Read More
Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike.The job cuts represent less than 2 percent of the operation's workforceIn a statement sent to Reuters, the company said the job cuts represented less than 2 percent of the operation's workforce,...Read More
SANTIAGO - Chile's state copper agency Cochilco lowered its average copper price prediction for this year by $0.03 to $2.97 per pound on Thursday in its second negative projection in six months.Cochilco also lowered its 2019 price projection to $3.05 per pound from the $3.10 it predicted in July, saying there would be a continued depression in appetite for the metal because of U.S.-China trade ten...Read More
It is expected that companies may choose to use the updated guidance starting January 1, 2019.Read full newsRead More