With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...Read More
Royalty & Streaming is acquiring a royalty on the San Luis property, above, of SSR Mining. Source: Metalla Royalty & Streaming Ltd.Metalla Royalty & Streaming Ltd. [MTA-CSE; MTAFF-OTCQB; X9CP-FSE] said Monday April 1 that it has struck a deal to acquire a portfolio of 18 royalties from Alamos Gold Inc. [AGI-TSX, NYSE] for $11.5 million, payable in common shares of Metalla.The acquisit...Read More
Prices for shipbreaing scrap prices in Turkey have gone down slightly this week with one steel mill reducing its buying prices, but auto bundle scrap prices remained stable over the past week, sources said on Monday April 1.Fastmarkets' weekly price assessment for Turkish domestic melting scrap from shipbreaking was $320-325 per tonne on April 1, narrowing downward from the $320-330 per tonne deli...Read More
An artist's rendering of the Tres Estradas phosphate mine in Brazil. Source: Aguia Resources Ltd.Aguia Resources Ltd. [AGRL-TSXV; AGR-ASX] shares advanced Monday April 1 after the company said it has raised $874,708 from a private placement financing, and expects to bring in an additional $200,000 from loans provided by certain officers and directors.The non-brokered private placement consists of...Read More
Editor’s Note: This story was previously published in February, 2019. It has since been updated and republished.The 2018 midterm elections made clear that Americans preferred legalization over the continued prohibition of pot, which should bolster the case for the top marijuana penny stocks.When residents in California voted for full recreational weed, it boded well not just for marijuana pe...Read More
Turkish steel mills continued to hold back from the deep-sea scrap markets to watch which way the market moves after the mayoral elections held across the country yesterday, sources said on Monday April 1.The main opposition Republican People's Party (CHP) has claimed victories in the coastal Aegean and Mediterranean provinces, as well as in major cities including Istanbul. It also claims to have...Read More
The Monday Market Minute Global stocks gain as China records the strongest reading of manufacturing activity in eight months in March, raising hopes that Beijing's stimulus plans can support the world's second-largest economy.Weaker factory activity readings in Japan and Germany cap gains, however, as trade war concerns linger ahead of this week's visit to Washington by China' Vice Premier Liu H...Read More
Better Chinese manufacturing data has surprised the market and boosted three-month base metals prices on the London Metal Exchange by an average of 1% this morning, Monday April 1.Nickel led the way with a 2.2% gain to $13,285 per tonne, up from Friday's close at $12,995 per tonne, while tin was the laggard with a 0.4% gain. Aluminium, zinc and lead were all up by 0.9%, while copper was up by 0.7%...Read More
The European Commission (EC) has published a secondary regulation that lays down how it will assess and authorize conflict mineral due diligence schemes. The schemes can be used by European Union metal importers to demonstrate they have not sourced product from mines and smelters associated with human rights abuses.This new regulation (EU) 2019/429 'on methodology and criteria for the assessment a...Read More
Oil has some great momentum behind it right now.The price of WTI crude topped $60 on Friday, ending its best first quarter in a decade.Looks great.Next stop: $100, right?Well, while oil does seem to have some muscle behind it (and I do think prices are headed a bit higher), I think we should reign in our expectations.Two bullish factors pushing oil higher last week were a decline in both U.S. acti...Read More
With the international cobalt metal market falling rapidly between December 2018 and February this year, the arbitrage between the international and Chinese cobalt metal price has gradually turned in favor of Chinese imports. As a result, Chinese buyers have been considering increasing their shipments of cobalt metal since February with an expectation international cobalt prices are close to botto...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 began with strength early but could not move above 1140 and ultimately, closed down 9.6 points or 0.8% to finish at 1123.95. Our short-term momentum indicator RSI dropped 6.7 points to 41.6 and, in doing so, reached a new 2019 low. Our long-term indicator MACD fell 1...Read More
Cobalt prices rose for the first time since late October 2018 at the end of March with traders and consumers restocking. Fastmarkets' benchmark standard-grade cobalt price assessment was $13.75-14.40 per lb, in-warehouse, on Friday March 29, up 2.2% from the previous $13.30-14.25 per lb on March 27, when they had risen 5 cents at the high end of the range. Fastmarkets' pri...Read More
The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow was strong during the week ended Monday April 1, on seasonally good demand.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was stable at 43,900-44,000 roubles ($668-670) per tonne cpt Moscow on April 1, including 20% VAT."Demand [in the secondary market] remains st...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) has softened on improved availability of May-rolling products, sources told Fastmarkets on Monday April 1.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $500-515 per tonne fob Black Sea on April 1, down from $510-520 per tonne fob a week ago.Magnitogorsk Iron & Steel Works...Read More
Turkey's flat steel exports increased by 38.12% year on year in February 2019 amid increased demand in Europe, according to the latest figures from the Turkish Statistical Institute (TUIK).Yet current demand for flat steel is weak in the country's key export markets, so export volumes may decrease in the next few months, Turkish market participants told Fastmarkets.Turkish producers have been offe...Read More
Prices for merchant bar quality (MBQ) steel were flat in the United States over the past month amid reports of mostly steady market conditions, while confirmed transactions for Mexican material have caused import prices to dip slightly. Fastmarkets AMM assessed domestic 2- x 2- x 1/4 -inch angle merchant bar at $37.05 per hundredweight ($741 per short ton) fob mill on Friday March 29, unchanged...Read More
CIS export rebar prices dropped by $10 per tonne week on week on Monday April 1 on subdued demand and a weakening of the Turkish import scrap market.Rebar offers from Ukraine and Belarus varied within the range of $470-475 per tonne fob Black Sea, down from $480-490 per tonne fob a week earlier, sources told Fastmarkets on Monday.Several sources reported a 30,000-tonne CIS-origin cargo being sold...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in March 2019.The case list below includes only updates. For other continuing cases, see the updates for January and...Read More
By: Keith WeinerWe think we are the only generation to be smart. In the 19th century, they did not have the internal combustion engine. In the 18th century, they did not have the railroad. In the 17th century, they did not have the piano. So, most people assume, they were dumb. They did not know about smart phones, so they would not have understood anything. Such as money.So let's tell the...Read More