Cambodia's Sihanoukville Special Economic Zone is over a thousand miles from China, but you would not know it to be there.Cut into a landscape of thick jungle and paddy fields, the area - which touts itself as a landmark Belt and Road project - is a mass of freshly built white factory buildings emblazoned with names such as Fangyuan Factory, Qingdao Baoli Textile and Jinchenyuan.There runs Kinnric...Read More
Physical iron ore prices soared further on Monday May 27 on big gains in the futures and swaps markets.MB 62% Fe Iron Ore Index: $108.62 per tonne cfr Qingdao, up $3.30 per tonne. MB 62% Fe Pilbara Blend Fines Index: $106.81 per tonne cfr Qingdao, up $3.30 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $111.35 per tonne cfr Qingdao, up $2.55 per tonne. MB 58% Fe Premium Index: $99.46 per tonne c...Read More
The seaborne coking coal spot market saw thin trading on Monday May 27, with offers in the premium segment being relatively unchanged amid an absence of bids.In the second-tier hard coking coal segment, two cargoes of lower-ranked products from Australia and Canada were both offered at around $185 per tonne cfr China, according to sources.Another brand of Australian materials that sit slightly hig...Read More
Prices for seaborne iron ore concentrate and pellets picked up some strength last week amid a general upward trend in the market, though the segment remained relatively weak overall.ConcentrateThe weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $115.79 per tonne cfr China last Friday May 24, up $5.80 per tonne from a week earlier.The daily Fastmarkets MB 65% Fe Iron Ore Index aver...Read More
Ted Butler is well aware of not just his critics, but also of the doubts, but Ted says this should end any doubt...by Ted Butler via Silver SeekJim Cook Interviews Ted Butler: JPM, Silver Investors & MoreCook: A lot of silver investors are frustrated these days. Can you give them any hope?Butler: I'd be lying if I said I wasn't frustrated as well. But I have no doubt that silver will eventually pr...Read More
China exported about 344 tonnes of ferro-vanadium (basis 75% vanadium) in April, marking a decrease of 28% month on month and 53.5% year on year, according to official, but unconfirmed, data seen by Fastmarkets MB.The drop in ferro-vanadium export volumes in April was said to be due to a lack of buying interest from the ex-China market due to the wide price gap between the Chinese and European mar...Read More
China's hot-rolled coil prices weakened on Monday May 27 amid thin trading in both the domestic and export markets.DomesticEastern China (Shanghai): 4,000-4,020 yuan ($580-582) per tonne, widening downward by 10 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, down 10 yuan per tonneLow trading activity led to prices falling in the spot market.The futures market also weakened, bu...Read More
Kutcho Copper Corp. (TSXV: KC) has raised C$2 million through a private placement of 10 million units (each consisting of one share and one warrant). Shares of the company went up nearly 3% on Monday afternoon from 19 cents at the time of announcement to the offering price of 20 cents. Its current market capitalization sits at approximately C$11.3 million.The financing is being backed by major sha...Read More
Vancouver-based Nicola Mining plans to advance its New Craigmont copper property with a diamond drilling program this year. Drilling began on May 23, 2019. The project site is 10 km from Merritt.The property includes the historic Craigmont mine. The former mine was active from 1938 to 1982, during which time it mined 33.4 million tonnes of ore grading 1.28% copper. The property remains permitted.N...Read More
The head of state-run miner Codelco, the world's largest copper producer, said Chile's mining industry was increasingly held back by new environmental regulations and the low productivity of Chilean workers, local daily La Tercera reported on Monday.Codelco Chief Executive Nelson Pizarro said in a presentation on Friday that regulatory hurdles were only adding to problems that have long plagued Ch...Read More
Pan Global Resources (TSXV: PGZ) was able to negotiate access to the Torrubia copper target in the Aguilas project, located near the city of Cordoba in southern Spain.In a media statement, the Vancouver-based company said that being able to enter Torrubia provides access to approximately 1.9 kilometres of strike with the widest and strongest soil copper geochemistry in the north part of the Torrub...Read More
Cambodia's Sihanoukville Special Economic Zone is over a thousand miles from China, but you would not know it to be there.Cut into a landscape of thick jungle and paddy fields, the area - which touts itself as a landmark Belt and Road project - is a mass of freshly built white factory buildings emblazoned with names such as Fangyuan Factory, Qingdao Baoli Textile and Jinchenyuan.There runs Kinnric...Read More
Barrick Gold's (TSX:ABX)(NYSE:GOLD) chief executive, Mark Bristow, said the company's bid for its 64%-owned Acacia Mining (LON:ACA) is an "appropriate" and "elegant" solution to the long-running row over outstanding tax claims that has hit the African miner's bottom-line.The $285-million offer, considered by some analysts and Acacia's minority shareholders as a low, would see the world's second...Read More
Base metals prices on the Shanghai Futures Exchange were mixed during morning trading on Monday May 27, with a softer dollar and comments from US President Donald Trump suggesting a trade deal with China was still possible providing broad support to the complex."President Donald Trump on Friday said that Huawei, the Chinese telecommunications network company, was 'very dangerous' but could still b...Read More
Zhang Shiping, founder and chairman of Weiqiao Pioneering Group, the parent company of the world's largest aluminium producer China Hongqiao, died on Thursday May 23 after a period of illness. Born in a remote village in China's Shandong province and armed only with a high school education, the self-made tycoon was widely regarded as "legendary" within the aluminium and cotton industries.Zhang beg...Read More
Import prices for hot-rolled coil in Vietnam softened over the past week amid pervasive bearishness, which left industry sources with expectations of further price drops.This is mostly due to the ongoing trade war between the United States and China, as well as rampant short-selling by traders, in addition to an ample availability of domestic supply.The weekly Fastmarkets MB import price assessmen...Read More
Import prices for rebar in Singapore picked up some strength over the past week, Qatar and India are poised to start offering rebar to Singapore again after Turkey raised its offers to the island nation.The weekly Fastmarkets MB import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $490-500 per tonne cfr for the...Read More
China's domestic rebar prices continued to drop on Monday May 27 amid losses in the futures market and pessimistic sellers drawing down their inventories.Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($580-587) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,930-3,970 yuan per tonne, down 20 yuan per tonneTraders are bearish about demand and prices for rebar in June because i...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More