Seaborne iron ore prices were steady on Friday June 28, with only minimal price moves compared with Thursday's activity, but interest in the Singapore Exchange's (SGX) 65% Fe iron ore derivative contract remained strong.By 6:30pm Singapore time, 205,000 tonnes had been traded and cleared on the contract, according to SGX data. This compares with 143,000 tonnes traded the previous day.MB...Read More
Greenland shines brightly in the rare earth spotlightSPONSOREDgreenland mineralsBlack Rock readies for race to graphite productionSPONSOREDblack rock miningE25 powering towards Butcherbird PFSSPONSOREDelement 25Finally, a changed mining tech M&A landscapeSPONSOREDatricoThe collapse of "mining galleries" near the active Kamoto openpit at Katanga that reportedly killed a number of illegal miners...Read More
Pessimism remained in the seaborne coking coal market despite cfr China prices regaining some losses on Friday June 28.A Capesize cargo of premium low-vol hard coking coal, scheduled for loading over July 5-15, was sold to a southern Chinese steelmaker at $197 per tonne cfr China during the day, a source at the mill said."I would still think that the price floor has yet to be reached. But we have...Read More
Cheaper H2 scrap from Japan is likely to limit the large quantities of heavy melting scrap (HMS) coming into the region from the United States, at least in the near term, market sources told Fastmarkets this week.This is mainly because Vietnamese steel mills will be loathe to pay premiums for US-origin material when they can get Japanese scrap at cheaper prices.VietnamFastmarkets' price assessment...Read More
China's rebar market maintained its upward momentum on Friday June 28 amid rising futures, though spot demand fell gradually. Domestic Eastern China (Shanghai): 3,960-4,000 yuan ($577-583) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,850-3,880 yuan per tonne, up 40-50 yuan per tonneRebar futures rose during the day with traders engaging in speculation amid bullish sentiment attribute...Read More
The first day of the Group of 20 (G20) summit in Japan gets underway on Friday June 28. With world leaders gathering at the event, and a few notable meetings scheduled on the sidelines, market participants will be keeping a close eye on any developments.The London Metal Exchange three-month base metals prices were weaker on Friday morning and it is worth noting that the strongest performer this we...Read More
Monday is a federal statutory holiday celebrating the dominion of Canada.Pre-opening Comments for Friday June 28thU.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for May Personal Income was an increase of 0.3% versus a gain of 0.5% in Apr...Read More
Base metals prices on the Shanghai Futures Exchange were mostly little changed to weaker during Asian morning trading on Friday June 28, with aluminium leading on the downside. The most-traded August aluminium contract on the SHFE stood at 13,805 yuan ($2,008) per tonne as at 10.38am Shanghai time, down by 95 yuan per tonne, or 0.7%, from Thursday's close of 13,900 yuan per tonne.The rest of the c...Read More
ERG partially restarted production of cobalt metal at Chambishi in Zambia earlier this month. It is understood that the new production is fed by hydroxide produced at ERG's Metalkol Roan Tailings & Reclamation (RTR) project in the Democratic Republic of Congo (DRC). RTR started production late last year, with output in the process of increasing to 14,000 tonnes per year of cobalt in the form of...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 June 28:Minor metalsAntimony MB free market regulus, $/tonne: $6,180-6,400 per tonne from $6,300-6,500Antimony MMTA standard grade II, $/tonne: $6,100-6,350 per tonne from $6,150-6,400Bismuth MB free market, $/lb: $2.95-3.15 per lb from $3.00-3.20Bismuth MB China domestic, yuan/tonne: 41,500-42,500 yuan per tonne from 42,000-43,000 yu...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
Fastmarkets MB is proposing the launch of weekly export price assessments for stainless grade 304 Chinese hot-rolled coil and cold-rolled coil.These assessments highlight China's status as a major exporter of stainless steel and will serve as a price benchmark for the international market for the products.Assessment: Stainless steel cold-rolled coil, grade 304 (2mm), fob China, $/tonne Qualit...Read More
Billionaire investor Warren Buffett is often labeled frugal.He lives in the same house he bought back in 1958 for $31,500.He never spends more than $3.17 on breakfast, and up until 2014, was driving the same 2006 Cadillac DTS.It wasn't until his daughter told him it was embarrassing that he traded up for the new XTS model.Contrast Buffett's frugal lifestyle to this story shared on Reddit a few mon...Read More
Mortgage rates have been dropping for the past few months, with a 30-year fixed falling to 4% recently according to FreddieMac. And now there's the possibility that the Fed will lower interest rates this summer. So this could be the ideal time to buy that home you've been eyeing.But suppose you have credit problems or haven't saved enough for a hefty down payment (20% for most conventional loans)?...Read More
For the second week running, European austenitic alloy steel scrap prices were largely unchanged when the effects of higher nickel prices were cancelled out by very low demand, sources told Fastmarkets on Friday June 28."[Weak] demand is winning against nickel [prices] at the moment," a UK trader said, observing that demand is so low it has overtaken nickel prices as the primary driver of austenit...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday June 28:Aluminium scrap Cast: ?,?850-880 per...Read More
Two Colorado School of Mines professors are among the Apollo-era legends, astronauts, business leaders, innovators and thought leaders who will be speaking at Apollopalooza, Colorado's weeklong celebration of the 50th anniversary of the Apollo 11 Moon landing and the future of space exploration. Hosted at Wings Over the Rockies in Denver, the July 13-20 celebration will feature more than 50 publi...Read More
In his 2016 memoir, Nike founder Phil Knight recalls being 24 years old and having what he calls a "Crazy Idea."He writes: "That morning in 1962 I told myself: Let everyone else call your idea crazy ... just keep going. Don't stop. Don't even think about stopping until you get there, and don't give much thought to where 'there' is. Whatever comes, just don't stop."Now, the shoe business is not the...Read More
A preliminary economic assessment (PEA) of Orvana Minerals' (TSX: OR) Taguas gold project, 25 km north of Barrick Gold's (TSX: ABX; NYSE: ABX) Veladero mine in Argentina, envisions a conventional open-pit, heap leach operation, which would produce for a decade.Orvana announced in May it was acquiring the project from Fabulosa Mines, its 51% shareholder, in a related party transaction. Under the de...Read More