In a rare move, Japan has started selling steel billet to Southeast Asia amid diving scrap prices in the country's domestic market.Steel mills in the Tokyo area have started channeling shipments of the semi-finished product to Southeast Asia, where buyers are prepared to pay higher prices than Japanese re-rollers, market sources said.While the sale of Japanese billet to Southeast Asia is not unpre...Read More
Market participants seem to be waiting for something to provide direction and that impetus is likely to come from the testimony of the United States Federal Reserve chairman later today.Market participants are counting on Fed chairman Jerome Powell to remain accommodating when testifying to Congress, with high odds that the 'insurance cut' of 25 basis points will be implemented in its July Federal...Read More
China's hot-rolled coil prices fell amid weakening futures, with traders agreeing to sell cargoes with shorter lead times at a discount to those being offered by mills. DomesticEastern China (Shanghai): 3,890-3,900 yuan ($565-566) per tonne, down 30-40 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, down 10-20 yuan per tonneTransaction prices fell across the country even though...Read More
China's rebar prices were flat on Wednesday July 10, but pessimism was the order of the day during what is considered a weak time of the year for the country's steel market.Domestic Eastern China (Shanghai): 3,980-4,000 yuan ($578-581) per tonne, unchangedNorthern China (Beijing): 3,880-3,910 yuan per tonne, unchangedTraders in the spot market kept prices unchanged, at least for the time being, am...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Wednesday July 10, with copper and zinc the strongest performers.The LME three-month copper price was up 1%, rebounding after a sharp sell-off yesterday. It was most recently trading at $5,883 per tonne, $60 per tonne higher than Tuesday's close price."Copper has managed to strengthen itself again above th...Read More
Base metals prices on the Shanghai Futures Exchange were on divergent paths in morning trading on Wednesday July 10 amid US dollar strength and macroeconomic uncertainties.The dollar index rose by 0.02 to 97.53 as at 9.40am Shanghai time, posing sell-off risk among investors. "Markets are less hopeful of a sharp interest rate cut this month, and trade war and Brexit concerns are back on the rise,"...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 Wednesday July 10:Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $6,000-6,200 per tonne from $6,000-6,250Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,950-6,150 per tonne from $6,000-6,200Cadmium 99.95% Bi min, cif global ports, cents/lb: 110-120 cents per lb from 112-122Cadmium 99.99%...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. Investors are waiting for testimony before Congress by Federal Reserve chairman Jerome Powell at 10:00 AM EDT.The Canadian Dollar was virtually unchanged at U.S. 76.26 cents prior to a statement on monetary policy by the Bank of Canada to be released at 10:00 AM EDT. The Bank of Canada's...Read More
What do you call an investment that has no risk, requires little - if any - money to start, is available equally to the rich and poor, is proven to improve your career prospects... can generate hundreds of thousands of dollars in savings over a lifetime? I call it good health.Although you might view spending on your health as a necessary expense, I'd argue it's an investment that will pay back d...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday July 10:Titanium scrapTurnings, unprocessed type 90/6/4, 0.5% Sn max, cif Europe, $/lb:...Read More
The Chinese central government has toned down its ambitious plan to ban all solid waste imports, including metal scrap, by the end of 2020 in its recently proposed revisions to the regulation on solid waste management. The country's National People's Congress announced on July 5 a proposed revision to the Law of the People's Republic of China on the Prevention and Control of Environmental Pollutio...Read More
China has announced a second round of copper scrap import quotas allowing a select list of importers to bring an additional 124,500 tonnes of copper scrap into the country during the second half this year, according to a statement on Wednesday July 10. The list, mainly comprising Guangdong and Zhejiang metal scrap importers, was compiled and released by the Center of China Solid Waste and Chemical...Read More
Eric Toberer, associate professor of physics at Colorado School of Mines, has won the U.S. Presidential Early Career Award for Scientists and Engineers (PECASE). The PECASE is the highest honor bestowed by the U.S. government to scientists and engineers who are early in their careers as researchers and show leadership promise in fields of science and technology. The White House announced the winn...Read More
Eliot Kapit, associate professor of physics at Colorado School of Mines, has been awarded a 2019 5 Sigma Physicist Award from the American Physical Society, a leading nonprofit organization comprised of more than 55,000 physicists in academe, national laboratories and industry."Every year, APS honors a select group of members with the 5 Sigma Physicist Award for performing outstanding advocacy tha...Read More
Nicaragua Milling Company is taking a 10.4% stake in Condor Gold (TSX: COG; LON: CNR), which is advancing its La India gold project in Nicaragua.The privately held milling company has operated in Nicaragua for two decades and is majority owned by American mining engineer Randy Martin, who developed Hemco Nicaragua, a 1,200 tonne-per-day underground and open pit mine at Bonanza. Martin later sold 9...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland mineralsBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25'When top miners commit to an aspiration, that does trickle down'SPONSOREDdeloitteI recall noting the "end of times" comments last year when it was suggested by some dopey academics...Read More
The Northern Miner has compiled a list of the top-10 diamond companies with headquarters in Canada, ordered by market capitalization, as of early July 2019.1. Lucara Diamond Market cap: $623 millionLucara Diamond (TSX: LUC) is part of the Lundin Group of companies and owns the Karowe diamond mine, in Botswana, which has produced since 2012, and is one of the world's foremost producers of large, h...Read More
In June The Northern Miner and its sister publication, Diamonds in Canada, hosted the second annual Diamonds in Canada Symposium at the TMX Broadcast Centre in Toronto. The event brings together investors and industry players interested in diamond exploration and mining.Attendees at this year's event heard from four featured speakers: Reena Ahluwalia, jewellery designer, artist and professor; Leon...Read More
Despite an avalanche of monetary and fiscal easing, record-breaking credit injections, and the media's insistence that a trade war will cause inflation carnage, China's producer prices were unchanged year-over-year in June.Read full newsRead More