Melbye, still a director at privately-owned Normet, was in charge at the company between 2006 and 2014 when a major strategic shift saw its global footprint expand significantly at the same time as itRead More
The No. 2 copper scrap discount for China has widened notably in February mainly on increased scrap availability after a rebound in the copper price, while the industry is still lobbying with the government to avoid a total scrap ban that could happen as soon as 2021.Fastmarkets assessed the discount for birch and cliff scrap of 94-96% copper content on a cif China basis at 28-34 cents per lb this...Read More
The Turkish steel mills stayed out of the deep-sea scrap market on Monday February 25 and made no bookings, preferring to remain in wait-and-see mode after the recent sharp decrease in the prices, Fastmarkets heard.Following the news of a Baltic Sea cargo sold on February 22 at $307 per tonne cfr for HMS 1&2 (80:20) and $317 per tonne for bonus, prices went down by around $10 per tonne at the end...Read More
The case was one of three class actions filed against Northern Dynasty and some of its officers and directors, following a Read More
Turkish domestic scrap prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday February 25.Fastmarkets' weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,630-1,820 ($306-342) per tonne delivered, widening downward from the TRY1,680-1,820 per tonne of last week.A number of steel mills and a maj...Read More
Redzone's Leinster lithium project in the Republic of Ireland. Source: Redzone Resources Ltd.Redzone Resources Ltd. [REZ-TSXV; REZZF-OTC; : REZZF] said Monday February 25 that it has acquired 4,438 hectares of prospective vanadium mineral claims near Mackenzie, British Columbia.The mineral rights were acquired via staking, the company said in a news release.The property is targeting the extension...Read More
Last Thursday's brief correction in metals prices was just a pause in what is turning into a strong rally, with the three-month base metals prices traded on the London Metal Exchange up by an average of 0.6% on the morning of Monday February 25.Copper and tin prices are extending into fresh highs for the year, while the other base metals are rallying. Copper prices were up by 0.4% this morning at...Read More
Open pit mining operations at the Copper Mountain Mine near Princeton, southern British Columbia.Copper Mountain Mining Corp. [CMMC-TSX; CPPMF-OTC; C6C-ASX] on Monday February 25 announced a new integrated life-of-mine production plan for its flagship Copper Mountain mine in southern British Columbia.Copper Mountain shares advanced on the news, rising 18.6% or 16 cents to $1.02 on volume of 1.98 m...Read More
A Newmont Mining gold pour in Nevada. Source: Newmont Mining Corp.Barrick Gold Corp. [ABX-TSX, NYSE] has launched a US$18 billion hostile bid to acquire U.S. rival Newmont Mining Corp. [NEM-NYSE] in an all share transaction that would create the world's largest gold producer.The combined company would have a market cap of $42 billion. It would produce 10 million ounces of gold annual at an all-in-...Read More
[Editor’s note: This story was previously published in May 2018. It has since been updated and republished.]Do you think penny stocks are best left to amateur traders who don’t understand that cheap stocks are cheap for a reason? It’s not an entirely unfair assessment. Many of these young (and doomed companies) are the beneficiaries of great sales pitches, but their investors oft...Read More
Prices in China for imports of 37% manganese ore fell over the week ended Friday February 22, with some buyers resisting recent rises in offer prices.Low-grade ore price fallsHigh-grade ore price ticks upwardUS prices of FeMn 78% and SiMn edge upwardSiMn price in China fallsAlloy prices stable in Europe and India.Fastmarkets' index price for 37% manganese ore, cif Tianjin, fell by $0.13 per dry me...Read More
Prices for flat steel exports from the Commonwealth of Independent States (CIS) held steady this week although market participants were expecting discounts, sources told Fastmarkets on Monday February 25.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was unchanged at $520-530 per tonne fob Black Sea on February 25.Ukraine-origin HRC was offered at $530-535 per...Read More
South Korea has recommended five-year anti-dumping duties on stainless steel bar from Taiwan and Italy, after its trade commission found that imports had injured the domestic industry.The Korea Trade Commission requested the finance ministry to set tariffs of 9.47-18.56% against Taiwanese products and 10.21-13.74% against Italian products for five years, according to the Ministry of Trade, Industr...Read More
Want to see a significant source of greenhouse gas emissions? Take a look up at the sky.Aircraft are major contributors to carbon emissions. To fly round-trip from New York to London produces the same amount of emissions as the average household produces heating their home for an entire year.Right now, direct emissions from global aviation accounts for more than 2% of the total greenhouse gases be...Read More
Import prices for steel slab in Southeast Asia and East Asia moved up again over the past week amid higher offers and limited availability, although no transactions were heard due to the large bid-offer spread.Fastmarkets' weekly import price assessment for slab imports to Southeast Asia and East Asia was $460-480 per tonne cfr on Monday February 25, widening upward by $10 per tonne from $460-470...Read More
The Turkish steel industry managed to increase its export volumes in 2018 despite the creation of international trade barriers that had a huge effect on the market, the Turkish Steel Exporters' Assn (??IB) told Fastmarkets on Friday February 22.Turkey increased its steel exports by 20.80% year-on-year to 21.40 million tonnes in the full year of 2018, while the value of those exports rose by 36.10%...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index tacked on another 9.1 points to end at 1153.11 for a gain of 0.7%. Over the last 2 weeks, it has climbed 3%. MACD moved up to 0.75. RSI rose to even more elevated levels with a 3.17 point gain as it reached 78.34. It is also worth noting RSI has not been this high in...Read More
Import prices for rebar in Singapore held steady over the past week on limited activity in the spot market.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $500-515 per tonne cfr for the week to Monday February 25, unchanged from the previous week.Turkish rebar was offered at $520-525 per to...Read More
China's rebar prices moved up on Monday February 25 in both the domestic and export markets following higher billet prices over the weekend.Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($559-566) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,740-3,770 yuan per tonne, up 10-20 yuan per tonneBillet prices moved up over the weekend on stronger demand, leading to high...Read More
The Turkish steel mills stayed out of the deep-sea scrap market on Monday February 25 and made no bookings, preferring to remain in wait-and-see mode after the recent sharp decrease in the prices, Fastmarkets heard.Following the news of a Baltic Sea cargo sold on February 22 at $307 per tonne cfr for HMS 1&2 (80:20) and $317 per tonne for bonus, prices went down by around $10 per tonne at the end...Read More