Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The Baltic-sea cargo was heard late on Friday August 27, past the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on Monday August 30. The cargo was booked by a steel m...Read More
Base metals prices on the London Metal Exchange were mainly firmer on the morning of Tuesday August 31, while those on the Shanghai Futures Exchange were more mixed.This comes despite the release of some weaker-than-expected Chinese manufacturing numbers. The US dollar index was, however, weaker. China's manufacturing purchasing managers index (PMI) fell to 50.1 in August from 50.4 in July. China'...Read More
A summary of Chinese lithium producer Ganfeng Lithium's financial results for the six months ending June 30, 2021, released by the company on Tuesday August 31.In briefGanfeng Lithium's revenue for the first half of 2021 totalled 4.06 billion yuan ($627.45 million), up by 70.27% year...Read More
We spoke with Spencer Cole, Chief Investment Officer of Vox Royalty Corp. (TSXV: VOX, OTC: VOXCF). On July 27th Vox announced that it now expects 2021 royalty revenues to double to C$4,000,000 - C$5,000,000 on the back of extremely strong operating performance. The increase in 2021 revenue guidance is mainly attributable to: (1) higher royalty-linked production volumes at the Koolyanobbing iron or...Read More
We spoke with Eira Thomas, who is President and CEO of Lucara Diamond (TSX: LUC, XSTO: LUC, BSE: LUC). Lucara is a leading independent producer, of large, exceptional quality, Type IIa diamonds, from its 100% owned Karowe Mine, in Botswana, and owns a 100% interest in Clara Diamond Solutions, a secure, digital sales platform, positioned to modernize the existing diamond supply chain and ensure dia...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
"Houston, we have a problem."In the late 1960s when NASA was planning on going to the moon, the organization made an exact replica of the space capsule and moon lander.This replica came in handy during the Apollo 13 mission. You may remember the "round peg in a square hole" scene in the Apollo 13 movie. The people on the model capsule in Houston solved the CO2 and drinking water problems and then...Read More
Tell me, what do Elon Musk, China, and the Taliban all have in common?So far, almost every person I've asked has gotten this question wrong. Perhaps the most surprising part is that everyone I asked was supremely confident they had the right answer. In all fairness, digging into any larger-than-life character like Musk will always bring in a few different conclusions. His entire brand is built on...Read More
The mood in the European hot-rolled coil market soured in the week ended Friday August 27 after both buyers and producers started to return after the summer holiday in August.Trading activity has been limited while buyers follow a wait-and-see strategy.Buyers expect domestic coil prices to decline in September due to lower raw material costs.Demand outlook for the automotive segment - one of the k...Read More
The European hot-rolled coil (HRC) market remained calm on Tuesday August 31 while buyers remained in a "wait-and-see" mode, sources told Fastmarkets.Although both buyers and sellers have returned to the market after a traditionally slow August, they have been taking their time to assess market trends. Buyers' sentiment has been largely negative due to lower iron ore costs, uncertainty over automo...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
Steel billet and rebar prices in the United Arab Emirates decreased on Tuesday August 31 while demand for rebar improved, sources told Fastmarkets.Demand for rebar improved after a long period of poor demand due to low stock levels, sources said.The country's biggest producer, Emirates Steel, was offering rebar at 2,610 dirhams ($710.46) per tonne, and Conares Steel's rebar price was 2,574 dirhams...Read More
China's domestic rebar prices edged down slightly on Tuesday August 31, but less so than futures due to strong end-user demand.DomesticEastern China (Shanghai): 5,220-5,260 yuan ($807-813) per tonne, widening downward by 10 yuan per tonne.The most-traded January rebar futures contract briefly dropped to today's low of 5,287 yuan per tonne before recovering...Read More
Mexican steel scrap prices continued to decrease in the week ended on Friday August 27, as most steelmakers applied price cuts because of competition from imported material.Scrap consumers have been pushing through a series of weekly price cuts due to pressure from lower international prices.Fastmarkets' assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey&n...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The Baltic-sea cargo was heard late on Friday August 27, past the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on Monday August 30. The cargo was booked by a steel m...Read More
Export prices for steel billet from the Commonwealth of Independent States region continued to decrease in the week to Tuesday August 31 with the market lacking support, Fastmarkets has heard.One of the principal negative factors weighing on prices was the dearth of trading activity in the major export outlets.Last week, CIS sellers covered the demand from Latin America...Read More
With inflation on the rise and gold at $1,700 an ounce, now is a good time to invest in gold, billionaire hedge fund manager John Paulson proclaimed and Mark Mobius, founder of Mobius Capital Partners, strongly agrees. Today John Paulson is bullish on gold and bearish on cryptocurrencies, as he said during a recent "Bloomberg Wealth with David Rubenstein" interview.Paulson went on to say that g...Read More
Gatling Exploration's CEO, Jason Billan, answers the big questions about the company's high-grade gold deposit in Ontario. On August 6, 2021, Gatling Exploration Inc. (GTR:TSX.V; GATGF:OTCQX) published an update on the ongoing drill program at the Larder Gold project in Ontario, Canada. These latest results will feed into a mineral resource estimate, scheduled for Q3 2021.Larder Project Highligh...Read More
Results of MAG Silver's 2020 drill program at its Mexico joint venture project Juanicipio are interpreted in a National Bank of Canada report. In an Aug. 5 research note, National Bank of Canada analyst Don DeMarco discussed the results of MAG Silver Corp.'s (MAG:TSX; MAG:NYSE American) 2020 drill program at its Juanicipio joint venture property.DeMarco reiterated that the campaign encompassed 11...Read More