Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...Read More
Post-pandemic market dynamics for base metals will be defined by global economies' ability to recover from the fallout of Covid-19, panelists said during LME Week's China session on Thursday October 22. Panel consensus deemed China's economic growth responsible for the current recovery in the metals market, with London Metal Exchange China head Yang Liu alluding to the region's "very beautiful v-s...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 23.Europe The market was unchanged over the week after fourth-quarter delivery contracts were settled, while suppliers reporedt deals done for several hundred tonnes of standard-grade material within range. ...Read More
Bob Moriarty ArchivesOct 23, 2020Winston Gold went public in 2016 with the same story they have now. The shares promptly shot up to $.64 apiece. I participated in a private placement at $.40 on the basis that they would be going into production shortly.The company obviously defines shortly differently than I do. By the timeI wrote about them in February of 2017they had declined to $.13 on their wa...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 23.China Seaborne 37% and 44% manganese port indices both slid after market sentiment weakened further amid falls in the portside ore and futures alloy markets amid growing port inventories.Portside manganese ore prices for both grades weakened further after some ore traders slashed the...Read More
A summary of aluminium producer Hydro's third-quarter results. In brief Underlying earnings before financial items and tax (EBIT) for the third quarter was at NOK 1,407 million compared with NOK 1,366 million in the same quarter last year, but up 3% from the second quarter. Hydro's net debt position decreased from NOK 13.2 billion to NOK 9.9 billion at the end of the quarter. Hydro held NOK 17.5 b...Read More
The United States silicon metal price reached $1.03 per lb on the high end on Thursday October 22, further surpassing domestic producers' $1 per lb cost of production and attaining its highest price since September 2019. The high end broke the psychological price barrier of $1 per tonne last week and rose for the third consecutive week in this Thursday's assessment because of recent widesprea...Read More
Adam HamiltonArchivesOct 23, 2020 The gold miners' stocks are still correcting, continuing to rebalance both technicals and sentiment. This sector's huge surge into early August spawned extreme overboughtness and universal euphoria, which are gradually being bled away. This same necessary and healthy corrective process is underway in gold itself, which overwhelmingly drives gold-stock price levels...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves. Read More
Global steel scrap prices have risen over the week to Friday October 23, following Turkey's re-entry into the market and a sharp rise in the prices of Japan-origin material.Turkish mills rejoin scrap market for higher-priced cargoesSentiment positive in US East Coast market despite no fresh dealsVietnamese mills' appetite grows for US material following spike in Japanese pricesTaiwanese scrap impo...Read More
The price of shredded scrap imported into India moved up on Friday October 23 on a rise in the international market and tight material availability, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $316.16 per tonne on Friday, up from $308.62 per tonne a week ago.Deals heard this week ranged from $315 to $316 per tonne, compared wi...Read More
Turkish steel mills look set to book further deep-sea scrap cargoes following a recent rise in rebar sales, sources told Fastmarkets on Friday October 23.Although there were no confirmed bookings for deep-sea cargo purchases on Friday, there was enough talk in the market to suggest possible further cargoes, following recent rebar sales and Turkish mills confirming their or...Read More
Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...Read More
The domestic Chinese battery-grade lithium carbonate price rose for a second consecutive week on Thursday October 22, supported by reducing stocks and firm offer prices from bullish producers. China's battery-grade lithium carbonate price narrowed up by 1,000 yuan per tonne on bullish offers. China's industrial-grade lithium carbonate price moved up amid tight supply. The Chinese domestic lithium...Read More
Despite the negative impact of the Covid-19 pandemic on the global economy, a combination of factors will drive strong adoption of electric vehicles (EVs) in 2021, panelists at the London Metal Exchange's Focus Day webinar on EVs said on Thursday October 22.New models to boost salesWith the number of EV models available in the market increasing rapidly, panelists said they expect to see increased...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday October 23, but buyers expected mills to push their offer prices upward soon, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?496.67 ($587.67) per tonne on Friday, down by just ?,?0.83 per tonne day on day from ?,?497.50 per tonn...Read More
View the Fastmarkets holiday pricing schedule for 2020 and 2021. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2020 and 2021.The 2020 calendar has been updated to include the extended Lunar New Year holiday in China, which affected certain prices. See the following pricing notices for...Read More
Domestic prices for secondary steel billet in India increased by 1,200 rupees ($16) per tonne in the week to Friday October 23, mainly on account of an equal rise in the price of direct-reduced iron (DRI), which is the most widely used feedstock for making secondary billet in the country.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets on October 23 at 31,300-31,500...Read More
Poland's rebar producers had to cut their domestic prices this week to spur slow buying activity, with market participants expecting a price rollover in the coming weeks, sources told Fastmarkets on Friday October 23.Buying appetite among Polish rebar buyers was moderate during the assessment week, sources said."Demand started to slow in mid-October after the end of a restocking campaign. Some dis...Read More
Rebar prices in the Turkish domestic market increased in United States dollar denomination in the week to Thursday October 22, amid currency fluctuations and an uptrend in the imported scrap sector, market sources said.The Turkish currency was trading at 7.87 lira to $1 on Thursday. This compares with 7.93 lira to $1 a week earlier, $7.91 lira to $1 on October 8 and $7.75 to $1 on October 1, accor...Read More