Fastmarkets proposes to change the calculation basis for the China cobalt sulfate, Co 20.5% min, ex-works adjustment to the standard-grade cobalt low-end price to 100% Co basis from the current Co 20.5% basis. As part of the consultation, Fastmarkets also proposes to change the name of this assessment to China cobalt sulfate, Co 20.5% min, ex-works, adjustment to standard-grade cobalt low-end pric...Read More
There were widespread rises in global ferrous scrap prices in the week ended Friday March 8, due to stable demand from end-users in key importing markets, Fastmarkets heard.Turkish steelmakers were buying imported materials to shore up their inventories, while buyers in Asia were purchasing spot cargoes to hedge against future price increases.TurkeyScrap prices in the Turkish import market began t...Read More
Scrap battery cathode materialAmerican Manganese Inc. [AMY-TSXV; AMYZF-OTCPINK] said Friday March 8 that it continues to process cathode scraps through the company's lithium-ion battery recycling pilot plant.Using the company's patent-approved process, the scraps underwent separation and leach operations, yielding a pregnant leach solution (PLS) containing cathode metals (cobalt, lithium, nickel...Read More
An underground driller at work at the now closed Max molybdenum mine near Trout Lake, British Columbia. Note the veins of massive molybdenite. Photo Courtesy Roca Mines Inc.Cameo Cobalt Corp. [CRU-TSX; CRUUF-OTC; SY7N-FWB] shares were active Thursday March 7after the company said it had closed the previously announced acquisition of the Max Mine and Willa properties. Both are located in British Co...Read More
UK prices for alloy steel scrap have moved up over the past week due to higher costs for nickel, sources told Fastmarkets on Friday March 8.Fastmarkets' weekly price assessment for domestic UK 18/8 stainless steel scrap solids was ?830-870 ($1,090-1,143) per tonne delivered on March 8. This was up from ?800-840 per tonne delivered a week earlier, reflecting transactions heard in the market."Nick...Read More
Northern Vertex's Moss Mine located 80 miles southeast of La Vegas in Mohave County, western Arizona. Source: Northern Vertex Mining Corp.Northern Vertex Mining Corp. [NEE-TSXV; NHVCF-OTC] said Friday March 8 that it has delivered the largest gold shipment to date from its Moss Mine in northwest Arizona.The company said it shipped an estimated 1,004 ounces of gold to a third party refiner. "These...Read More
The Friday Market Minute U.S. equity futures suggest a fifth day of declines on Wall Street Friday, the longest losing streak of the year, after a surprise collapse in China's February exports.China exports fall the most in three-years last month, adding to concerns for global growth after yesterday's sharp forecast change, and negative rate extension, from the European Central Bank.Europea...Read More
Prices for light iron steel scrap in the United Kingdom broke a five-week spell of stability and fell by ?5 ($7) per tonne this week, with inter-merchant prices tracking a drop in the consumer market, sources told Fastmarkets on Friday March 8.The inter-merchant market was responding to a drop of about ?10 per tonne in the consumer price in late February, sources said.Even though there has been...Read More
Colombia Energy Minister Maria Fernanda Suarez.Colombia Energy Minister Maria Fernanda Suarez is aiming for greater transparency in the way the country's resources are managed.She said Colombia hopes to achieve that goal by completing the digital transformation of the country's National Minerals Agency by the end of 2019."We are aiming for full transparency of the land mass," said Suarez during an...Read More
The Comex copper price fell in US morning trading on Friday March 8 following the release of disappointing data from the world's two largest economies, the United States and China.The copper price for May settlement on the Comex division of the New York Mercantile Exchange declined 2.30 cents to $2.8875 per lb. Market participants pointed to waning investor appetite for metals amid weaker than exp...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker again this morning, Friday March 8, and weak Chinese trade data has not helped sentiment.With the exception of aluminium that was up by 0.1%, the rest of the complex were down between 0.2% for tin and 0.7% for nickel and zinc. Copper was off by 0.5% at $6,403 per tonne, compared with $6,435 per tonne at Thurs...Read More
TORONTO - Today, Minister of Energy, Northern Development and Mines Greg Rickford released the following statement on Hydro One:"I am pleased to report that our government has delivered on its commitment to put the People of Ontario first and bring Hydro One's executive compensation levels down to acceptable levels. "The Hydro One Board of Directors has provided us with a compensation framework th...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The U.S. Department of Energy is planning to build the first nuclear reactor in America since the 1970s. And it has the uranium investment community buzzing with excitement.Is this the beginning of a new dawn for nuclear energy?Or just another dead end?Two weeks ago, Energy Secretary Rick Perry announced the DOE would officially launch the Versatile Test Reactor (VTR) program.The project will be o...Read More
Fastmarkets proposes to change the calculation basis for the China cobalt sulfate, Co 20.5% min, ex-works adjustment to the standard-grade cobalt low-end price to 100% Co basis from the current Co 20.5% basis. As part of the consultation, Fastmarkets also proposes to change the name of this assessment to China cobalt sulfate, Co 20.5% min, ex-works, adjustment to standard-grade cobalt low-end pric...Read More
Latin America's export prices of hot-rolled coil increased this week, while heavy plate and cold-rolled coil remained stable amid a rise in export offers from Brazilian producers, although few deals were reported.Offers of Brazil-origin HRC were at around $555-560 per tonne fob, with at least one deal being closed to South American countries.Fastmarkets' weekly price assessment for Latin America's...Read More
Prices for coated steel products in Turkey decreased in the seven days to Friday March 8, with demand weak in both the domestic and export markets.Demand was unlikely to improve in March, sources told Fastmarkets, because of market uncertainty in the period before mayoral elections to be held across the country on March 31.Buyers want to see if end-user demand improves after the elections and have...Read More
Some steel coil prices in Turkey decreased again in the week ended Friday March 8, with buying activity remaining subdued.The market is unlikely to improve in March because of the uncertainty in the build-up to Turkey's mayoral elections held on the last day of the month, sources told Fastmarkets. Market participants want to wait and see if end-user demand improves after elections are over.Additio...Read More
We have been digging through the latest IIROC bi-weekly short report looking for nuggets of opportunity. By assessing the combination of short positioning and insider commitment in stocks, we are typically able to spot some bullish or bearish signals.Click for largerIn the latest IIROC report which covers the period between February 16th to 28th, Barrick Gold (Mostly Sunny; ABX) caught our attent...Read More
Import prices for steel billet in Southeast Asia were up slightly on Friday March 8 amid pressure from elevated offer levels, although some buyers were still unwilling to increase their bids this week, market participants said. Fastmarkets' daily import price assessment for billet in Southeast Asia was $480-490 per tonne cfr Manila on Friday, widening upward by $5 per tonne from $480-485 per...Read More