Baselworld closed its doors on Wednesday, March 26. Michel Loris-Melikoff, Managing Director of Baselworld, concluded the show's closing press conference saying: "Baselworld 2019 is now history, and we look forward to 2020." Noting that 2019 was a year of transition for Baselworld, Melikoff reported that 520 brands had exhibited at Baselworld 2019. This year's show was attended by 81,...Read More
On March 5th, exactly 11 years to the day that De Beers Canada took control of operations at Victor Mine, the final haul truck brought the last load of ore from the pit to mark the end of mining activities at Ontario's first and only diamond mine. The honour of driving the last truck went to Nancy Wesley, of Kashechewan First Nation. She worked at Victor for 11 years, as a haul truck driver, dozer...Read More
The low price environment in which the Renard diamond mine began its operations two years ago is continuing to affect the company operating the Quebec-based mine, with Stornoway Diamonds ending 2018 in the red.The listed diamond miner on Thursday reported a net loss of C$329.4-million, or C$0.39 a share, on lower revenue of C$165.5-million. This compares with a net loss of C$144.22-million in 2017...Read More
Fastmarkets proposes to use its 65% Fe Brazilian Fines Index, cfr Qingdao (MBIOI-65-BZ) as the base price for its Direct Reduced (DR)-grade Iron Ore Pellet Premium Middle East reference. Currently, Fastmarkets' 62% Fe Fines Index, cfr Qingdao (MBIOI-62) is used as the base price. The proposed move follows a shift in the market to 65% Fe fines as the base price for some pellet contracts....Read More
Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsThe company aims to leverage the "structural investments" it is making via the New Mine Level project that will start operation in 2023 to ensure the mine has decades more life while maintaining current production levels. A new round of investments is being studied to both increase production...Read More
Turkish steel mills continued to remain out of the deep-sea scrap market at the end of the week due to the uncertain political situation in the country, sources said on Friday March 29.The Turkish lira was still very volatile against the US dollar because of the political instability and Turkish steel producers preferred to wait for the results of Sunday's mayoral elections before m...Read More
Turkish miners are seeing their profit margins fluctuate daily, as the Turkish lira swings wildly against the dollar. After a long period of stability since the country's financial crisis a year ago, volatility has returned to the Turkish lira over the last week, as it gains or loses up to 5% by the day. On March 22 the lira fell from 5.47 to the dollar, to a low of 5.83 to the dollar. The currenc...Read More
The price of shredded ferrous scrap into India inched down this week following deals done at lower levels, sources said on Friday March 29.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $334.38 per tonne cfr on March 29, down from $335.75 per tonne cfr on March 22. This week deals were heard for shredded done at $333, $335 and $337 per tonne cfr. The lowes...Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange. Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases...Read More
Prices for light iron steel scrap in the United Kingdom were rolled over for a second week on Friday March 29 amid steady trading, with relatively tight availability in some areas and regular business going overseas, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($118-144) per tonne on March 29. This price range...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures responded to U.S. government comments that trade negotiations with China are "going well". The Shanghai Composite Index jumped 3.2%.Index futures were virtually unchanged following release of February Personal Income at 8:30 AM EDT. Consensus for February Personal Income wa...Read More
Seaborne coking coal prices ended the week lower in line with market participants' expectations.A cargo of premium low-vol hard coking coal was traded at around $202 per tonne cfr China, while an offer for a shipment of premium mid-vol materials was made at $205 per tonne fob Australia, sources told Fastmarkets on Friday March 29.A cargo of second-tier hard coking coal was heard offered at around...Read More
The London Metal Exchange has announced new warehouse reform proposals - the friendliest to warehousers in seven years - that aim to make LME warehousing attractive again and encourage more metal onto the exchange.In a discussion paper sent to members on Friday March 29, the exchange proposed relaxing queue-based rent capping (QBRC) to 80 days, lower rent and Free On Truck (FOT) fees, as well as m...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Friday March 29, bolstered by positive sentiment emerging out of recent US-China trade talks and gains in copper futures amid strong volumes.Price action in the red metal returned to levels above $6,400 per tonne over the morning, with more than 4,700 lots changing hands by 9:20am London time. ...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 March 29:Antimony MB free market regulus, $/tonne: $7,200-7,500 per tonne from $7,300-7,600Antimony MMTA standard grade II, $/tonne: $7,050-7,450 per tonne from $7,250-7,550Chromium MB free market alumino-thermic, $/tonne: $8,500-9,000 per tonne...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange.Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases this...Read More
I have always been a collector of things.When I was younger, I focused on coins ... comic books ... action figures ... baseball cards ... and all the other typical stuff 10-year-old boys like.Since then, I've gotten into guitars, surfboards, vintage skateboards, wine, and even rare sneakers.I've made money on just about every one of those things over the years while having fun along the way.And wh...Read More
Yesterday we sketched a brief scene of possible recession by next year - in time for the 2020 presidential election.Today we complete our portrait... tack it to the wall... and lean in for a deeper look.The president will certainly pin his reelection prospects upon a pulsating economy and an electric stock market.That is, No.1 recognizes his path to victory runs through America's wallets.Hence his...Read More