Net profit for the top-40 by market capitalisation is expected to fall 15% this year to US$51 billion, given an expected 6% year-on-year drop in revenues to $649 billion and a resultant 6% drop in EBITDA to $157 billion.In contrast, for the period ended December 31, 2019, revenues for the group rose 4% to $692 billion, with EBITDA during the period flat at $168 billion. Dividends paid rose 25...Read More

The Cerro Verde copper mine in Peru operated at around 80% of its 2019 average levels in June but is expected to see operations increase in the second half, according to majority owner Freeport-McMoRan. The US copper producer, which has a 53.56% stake in the mine, said that Cerro Verde's operating rates averaged 251,800 tonnes of ore per day in the second quarter, including an average of 316,800 t...Read More

The purpose of this update is to celebrate and mark silver's powerful breakout from a giant base pattern that started to form as far back as 2013 - 2014, a breakout which has only happened during the past 2 days, yesterday and today, with today's advance finally seeing it break clear above the resistance at the upper limits of the base pattern. While this doesn't mean it can't drop back again it...Read More

By: Gary SavageGold has left behind the resistance zone from 2011, we will likely see all-time highs acting as a magnet pulling the price higher: https://blog.smartmoneytrackerpremium.com/Read More

Glencore's head of zinc and lead assets Chris Eskdale has stepped down from his role while the company overhauls the department's senior leadership, Fastmarkets understands.Eskdale's role will now be split between incoming head of trading Nick Popovic, Denis Hamel and Aline Cote who will become the first woman to lead an industrial division at Glencore.Glencore produced 975,000 tonnes of zinc...Read More

Here are five Fastmarkets stories you might have missed on Thursday July 23 that are worth another look.Adjusted steel safeguard measures in Europe, combined with new trade cases, will limit availability of imported hot-rolled coil and support domestic prices.Companies with strong balance sheets and access to capital could drive a...Read More

The Ramu NiCo mine, which produced at record levels in the first quarter of the year, appears to be operating normally despite a 7.0 earthquake that hit Papua New Guinea on Friday July 17.Neither the mine's operator, Metallurgical Corp of China ("MCC"), in Beijing, nor Ramu NiCo's minor stakeholder, Conic Metals Corp, in Toronto, responded to Fastmarkets' multiple requests for updates on the nicke...Read More

Turkish steel mills have continued to book deep-sea scrap cargoes for August shipment with improving prices, sources said on Thursday July 23.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 18,000 tonnes of HMS 1&2 (95:5) at $275 per tonne cfr on Thursday.Another steel mill in Turkey booked a US cargo, comprising 7,000 tonnes of HMS 1&2 (80:20) at $270 per...Read More

China has become the savior of the global steel market, with its big appetite and high domestic prices supporting the international ferrous supply chain amid the Covid-19 pandemic.While demand for steel in most economies has plummeted in the face of the health crisis, that in China has been strengthening since at least the second quarter of 2020 amid the country's steady recovery after battling th...Read More

(Updates prices)By Peter HobsonLONDON, July 23 (Reuters) - Copper prices rose on Thursdayas available stockpiles in London Metal Exchange (LME)warehouses tumbled and a spike in the cost of metal forimmediate delivery pointed to a tightening market.The dollar also slid to its weakest in nearly two years,making metals cheaper for buyers outside the United States.Benchmark copper on the LME was up 0....Read More

Heightened diplomatic tensions between the United States and China, and their potential implications on the phase one trade deal struck between the two nations, were a headwind for the base metals this morning, Thursday July 23. Meanwhile, more liquidity keeps underlying sentiment bullish, as do supply concerns.Base metals have run into resistance; not so the precious metals, especially gold after...Read More

Share this articleTeck Resources Ltd. saw profits fall by 165 per cent last quarter as the COVID-19 pandemic dented demand for its commodities and slashed prices.The second quarter yielded a loss of $149 million for the Vancouver-based miner, which was forced to shut down operations and halt construction at some sites.All mines are now producing, and the company has issued an updated guidance a...Read More

Key data from the pricing session in London on Thursday July 23.Key drivers Cobalt prices stabilized after falls at the beginning of the month. Some market participants beleved the market to be close to the floor due to rising...Read More

The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More

The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More

I have a friend who is an adult film star.She's been in the business for about 15 years, doing photo shoots, video shoots, live appearances, and even hosting a radio show on SiriusXM. She's developed a loyal following over the years and has made a decent living. She's also invested a lot of her money - mostly in my stock picks. Most notably, Canopy Growth Corporation (TSX: WEED), which turned h...Read More

Here are five Fastmarkets stories you might have missed on Thursday July 23 that are worth another look.Adjusted steel safeguard measures in Europe, combined with new trade cases, will limit availability of imported hot-rolled coil and support domestic prices.Companies with strong balance sheets and access to capital could drive a...Read More

Adjusted steel safeguard measures in Europe, combined with new trade cases, will limit availability of imported hot-rolled coil and support domestic prices. The latest changes, however, are not the end to the protectionist measures in the EU.Please click on the thumbnail below to download this free special report.Read More

Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday July 23, due to the seasonal market slowdown, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?407.69 ($471.19) per tonne on Thursday, up by just ?,?0.01 per tonne from ?,?407.68 per tonne on July 22.Thursday's index was b...Read More

The price for steel reinforcing bar in the United States held firm week on week on steady demand from the construction end market, market participants said.US marketFastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $28 per hundredweight ($560 per short ton) on Wednesday July 22, unchanged after falling to this level on July 15."It seems to have stalled...Read More