Seaborne iron ore prices surged above the $70 per tonne cfr mark on Friday December 14 amid bullish trading in both physical and futures markets.MB 62% Fe Iron Ore Index: $70.74 per tonne cfr Qingdao, up $3.09 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.54 per tonne cfr Qingdao, up $3.62 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $72.17 per tonne cfr Qingdao, up $1.29 per tonne.MB 58%...Read More
Interest in Singapore Exchange's (SGX) high-grade iron ore derivative was robust in the second week of trading, with 7,000 lots traded and cleared by 5.53pm Singapore time on Friday December 14.This accounts for 700,000 tonnes traded and cleared this week as of 5.53pm Singapore time, according to SGX data.Trading was done in each calendar month from January 2019 to June 2019 this week, in line wit...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreRio Tinto, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $69.40 per tonne cfr China,...Read More
The divide between cfr China and fob Australia prices widened further on Friday December 14 amid persistent concerns over potential supply disruptions.A cargo of a top Australian brand was traded at $208.20 per tonne cfr China during the day, various sources told Fastmarkets. A cargo of a similar brand had changed hands at $230 per tonne fob Australia just a day earlier.The Abbot Point Coal Termin...Read More
“Is there a real estate bubble?” That’s the question I’m asked repeatedly. When I reply honestly, “I hope so," the person asking me will sometimes get angry.“You want the market to crash?” asked one young man incredulously, at an event where I was a featured speaker.“Yes,” I replied. “I love market crashes.”Apparently not wanting to...Read More
China's domestic hot-rolled coil prices continued to rise on Friday December 14, capping a week of gains that appears to have led to a drop in trading activity in the export market. DomesticEastern China (Shanghai): 3,820-3,830 yuan ($555-557) per tonne, up 30-50 yuan per tonneNorthern China (Tianjin): 3,620-3,630 yuan per tonne, up 10-20 yuan per tonnePrices rose further due to buyers constantly...Read More
“Sorry, your card was declined.”What the….!?!?I was at the hospital cafeteria picking up some food for my little man who broke his arm this weekend. And for some reason my card wouldn’t go through. Was I really out of money?The holidays can be stressful trying to make sure you cross everyone off on your shopping list. And then if you throw in some unexpected expenses like a...Read More
The following Fastmarkets minor metals prices changed on Friday December 14:Bismuth MB free market, $/lb: $3.40-3.80 per lb from $3.60-4.00Bismuth MB China domestic, yuan/tonne: 48,000-50,000 yuan per tonne from 48,500-51,000 yuanCobalt MB free market high grade, $/lb: $28.60-30.60 per lb from $29.90-31.40Cobalt...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Disappointing Chinese economic data has weighed on the three-month base metals prices on the London Metal Exchange this morning, Friday December 14, with all the metals in negative territory and showing average losses of 0.4%.The three-month zinc price led the way with a drop of 1%, copper was off by 0.5% at $6,121 per tonne, while the rest were off by between 0.1% and 0.3%.Volume across the compl...Read More
Manganese ore exports from South Africa during 2018 will increase to almost 17 million tonnes by the end of December, according to data that also shows monthly export volumes soared in November. Shipping trends show the total exported volume of manganese ore from South Africa in 2018 will be up by about 14% compared with the 14.7 million tonnes it exported in 2017, when...Read More
Stainless steel prices in Europe fell in the week to Friday December 14, with slow trading increasing the competition between distributors, sources told Fastmarkets."Distributors still have high stocks, and destocking did not go as fast as planned for the majority of the buyers, so competition has been rather strong," a trader said.From the end of next week until the first week...Read More
Colorado School of Mines celebrated its midyear commencement Dec. 14, conferring a total of 226 bachelor's, 187 master's and 55 doctoral degrees during undergraduate and graduate ceremonies at Lockridge Arena. Special recognition was given to students of high scholastic achievement, active university involvement and innovative research at both ceremonies. Undergraduate awards and recognitions...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday December 14:Aluminium scrapFloated Frag: ?,?1,055-1,105 per tonne from ?,?1,050-1,100Cast: ?,?960-1,010 per...Read More
Ferrous scrap prices in Asia maintained their downward trend this week amid soft end-user demand in the region.Offers were ample but buyers mostly either stayed on the sidelines or sought out limited volumes to import.Market participants are also not sure what to expect from the market over the next few weeks.Some of them said sellers in the United States were not willing to offer containerized sc...Read More
Billionaire hedge fund manager John Paulson's success in ousting the bulk of Detour Gold Corp's board could serve as a "template" for an expected increase in shareholder activism in the gold sector, institutional investors said on Thursday.The Canadian mining company's shareholders voted for five board nominees backed by Paulson & Co at a special meeting on Thursday, and Detour's interim chief exe...Read More
Canada's Dominion Diamond Mines and Rio Tinto shocked the market on Friday by unveiling what is believed to be the largest diamond ever found in North America, measuring in about the size of a chicken-egg.The 552-carat yellow gem quality stone, unearthed in October, measures around 3cm by 5.5cm, almost three times the size of the next largest stone ever found in Canada, Dominion - which owns 40% o...Read More
Randy Smallwood, CEO at Wheaton Precious Metals, tells BNN Bloomberg the settlement the company has reached with the CRA will be positive for shareholders.Read full newsRead More
"Deals all over the place in resource stocks. What a time to be buying mining and oil/gas stocks in Canada. #buylowsellhigh is the name of the game!"Read full newsRead More
The U.S. Attorney's Office in Oregon says Harry Dean Proudfoot III, 78, used the scheme to steal $3.2 million from 140 investors.Read full newsRead More