China's hot-rolled coil prices dropped again on Friday May 31, with pessimism growing amid expectations of higher output over the next few days amid stagnant demand.DomesticEastern China (Shanghai): 3,930-3,950 yuan ($569-572) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, down 30 yuan per tonneTrading was reported to be "merely moderate" during the day e...Read More
China's rebar prices resumed its downtrend on Friday May 31 amid declining futures, though the outlook for the market over the next week remains mixed.Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,880-3,950 yuan per tonne, narrowed down 10-40 yuan per tonneTrading activity during the day was thinner than that on Thursday...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 May 31:Minor metals Antimony MB free market regulus, $/tonne: $6,600-6,800 per tonne from $6,600-6,850Antimony MMTA standard grade II, $/tonne: $6,450-6,650 per tonne from $6,500-6,700Bismuth MB China domestic, yuan/tonne: 40,500-42,000 yuan per tonne from 41,500-44,000 yuanCadmium MB free market min 99.95%, cents/lb: 120-130 cents fr...Read More
I get this question a lot from readers ready to downsize:Why would I renovate my house now if I'm going to sell in [pick a short timeframe]? It's a valid question for two reasons: First, if you make upgrades before you're about to sell, you won't get to enjoy the money you've invested. Second, a lot of upgrades don't necessarily deliver the return on investment you would imagine. According to Remo...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Yesterday we furrowed our brow against the latest inversion of the "yield curve."The 10-year Treasury yield has slipped beneath the 3-month Treasury yield - to its deepest point since the financial crisis, in fact.Inverted yield curves precede recessions nearly as reliably as days precede nights, horses precede carts... lies precede elections.The 10-year Treasury yield has dropped beneath the 3-mo...Read More
Fastmarkets has amended the specifications of its standard-grade cobalt price assessment to include grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. Fastmarkets has amended the specifications of its standard-grade cobalt price assessment to include grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. Market feedback suggests both gr...Read More
"Sit down before fact like a little child," Thomas Huxley instructed, and "follow humbly wherever and to whatever abyss Nature leads…"Today we sit down before facts, childlike... and follow humbly wherever and to whatever abyss they lead.But what if the facts lead straight to the abyss of recession?Facts 1: April orders for core nondefense capital goods slipped 0.9%.Facts 2: April orders for...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Transaction prices for grade-304 stainless steel sheet narrowed lower this week ahead of lower alloy surcharges officially taking effect from June 1, sources told Fastmarkets on Friday May 31. Fastmarkets' price assessment for grade-304 cold-rolled stainless steel sheet was ?,?2,200-2,260 ($2,449-2,516) per tonne delivered to Northern Europe on Friday, down by ?,?40 per tonne on the high side from...Read More
Hebei Steel, China's largest steel mill, has kept its purchase price for silico-manganese unchanged at 7,600 yuan ($1,099) per tonne for June delivery, with suppliers trying to maintain higher offers amid rebounding prices in both the spot and futures markets, market sources told Fastmarkets MB.Hebei Steel, as the majority of market participants had expected, initially bid at 7,500 yuan per tonne...Read More
Vietnamese steelmakers booked H2-grade scrap from Japan this week, snubbing offers from the United States and Europe while they await price drops for materials from these two sources as well as in Turkey.But in Taiwan, tight supply of the steelmaking raw material in the island's domestic market led to mills there continuing to snap up US cargoes of heavy melting scrap 1&2 (80:20).VietnamThe weekly...Read More
The entire footprint of NexGen Energy's (TSX: NXE; NYSE-AM: NXE) proposed Arrow mine is smaller than a university campus, but could produce 21% of the world's uranium once in production, the company says.The high-grade uranium deposit in Canada's Athabasca basin would produce 25.4 million lb. uranium oxide (U3O8) per year over an estimated mine life of nine years - leapfrogging the company into th...Read More
Agnico Eagle Mines' (TSX: AEM; NYSE: AEM) Meliadine mine - it's largest gold deposit in terms of resources - achieved commercial production ahead of schedule and below the initial capital budget, the company reports.Total construction costs after crediting pre-commercial gold sales came in below the 2017 guidance of US$900 million.The mine, near Rankin Inlet in Nunavut, is expected to produce abou...Read More
After a milestone-rich year in which Champion Iron (TSX: CIA; ASX: CIA) restarted the Bloom Lake iron ore mine in Quebec's portion of the Labrador Trough, the company has executed a series of transactions to better position itself for growth amid a global supply shortage in high-grade iron ore.In May, Champion finalized a preferred share offering for $185 million with Quebec pension fund manager C...Read More
After months of apprehension, fragments of the northern slope of Vale's (NYSE:VALE) Gongo Soco mine, in the southeastern Brazilian state of Minas Gerais, has begun to gradually slide into the bottom of the open pit, reducing the risk of a new dam break, the company said on Friday."These pieces settled gently at the bottom of the pit with early assessments indicating that the wall is sliding gradu...Read More
"@Highfield_Res is an ASX-listed #potash company with five 100%-owned projects located in Spain.Watch Highfield Resources live in action at #MJSelect! https://t.co/qhqmCpzmYc#MJS"Read full newsRead More
"The price drop is to make Tesla more accessible,"Read full newsRead More
". @IvanhoeMines_ is advancing its three principal projects in Southern Africa: 1) Platreef Project; 2) Kamoa-Kakula copper discovery and 3) Kipushi Project. Ivanhoe Mines will be presenting in June at the Mining Journal Select conference. https://t.co/qhqmCphM6E"Read full newsRead More