Prime minister Scott Morrison said yesterday that delays in approvals under the Environment Protection and Biodiversity Conservation Act 1999 cost industry A$300 million alone in 2019.Read More
The electric vehicle (EV) sector will continue to find support in the medium term despite the overall impact of Covid-19 on global automotive output in 2020, according to battery materials manufacturer Umicore. The Belgian company anticipates a 25% decline in total global automotive production this year, but while the coronavirus and its impact on the global economy have clouded the outl...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 16 that are worth another look.Swedish stainless steel producer Sandvik is to cut 429 jobs from its Sandvik Materials Technology division later this year because of the negative impact on business of the Covid-19 pandemicFerrous scrap prices have ticked up slightly in Mexico, although overall steel production and industrial ac...Read More
China has released a minimal amount of quotas in its eighth announcement in 2020 to allow importers to source copper and aluminium scrap from overseas, Fastmarkets understands. An extra 1,570 tonnes of copper scrap and 5,840 tonnes of aluminium scrap could be allocated for import into the country this year, the environmental ministry said on Tuesday June 16.So far...Read More
Turkish steel producers continued to stay away from the deep-sea scrap import market, but the current firm prices could soon start to rise if demand for rebar grows, sources said on Tuesday June 16.After booking nine deep-sea cargoes, totalling 250,000 tonnes last week, the Turkish steel producers have been quiet since the start of this week.They are still expected to book more cargoes,...Read More
Markets were stronger across the board this morning, Tuesday June 16, reversing the weakness seen at the end of last week and during early trading on Monday.The Federal Reserve's action to extend buying to a wider base of corporate debt suggests the central bank will "do whatever it takes" to support market sentiment, and indeed markets, if it can. Base metals prices on both the London Metal Excha...Read More
KENORA - The Ontario government is investing more than $2.3 million in seven broadband projects that will support rural and Indigenous communities in Northern Ontario. This funding will connect northerners to reliable broadband infrastructure that will allow people to stay in touch with family and friends, access public services and work and run a business from anywhere.Broadband investments made...Read More
Share this articleTORONTO - RNC Minerals has changed its name and stock ticker.The Toronto-based mining company now known as Karora Resources Inc. will have its stock trade beginning Wednesday under new symbols.Shares and warrants will trade under the symbols KRR and KRR.WT respectively.RNC says the new name more accurately reflects its business focus on growing gold production in Western Austral...Read More
The electric vehicle (EV) sector will continue to find support in the medium term despite the overall impact of Covid-19 on global automotive output in 2020, according to battery materials manufacturer Umicore. The Belgian company anticipates a 25% decline in total global automotive production this year, but while the coronavirus and its impact on the global economy have clouded the outl...Read More
CBLT Inc. (TSXV: CBLT) is a natural resource company, targeting cobalt in ethical traceable mining jurisdictions. We learned from Peter Clausi, CEO of CBLT, that they were able to finance the Company on a non-dilutive basis, by selling off some of their cobalt assets for very high profits. Near term plans include acquiring silver properties in North America, either past producers or grassroots gre...Read More
Gold has been a great investment for the last five years. It has gone from $1,320 an ounce to $1,779 an ounce with just a few hiccups.At the moment, the price of gold is a bit off its all-time high and sits at $1,731.It's not as cheap as it was, but it is far from a mania...I've yet to hear a taxi driver or waitress tell me to buy gold. The strip mall stores are closed, there are no "buy gold" com...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR?On the back of US steelmakers' $50- to $60-per-ton price hikes in late April, domestic hot-rolled coil prices improved to a monthly average of $493 per ton in May, up from $488 per ton in April. In contrast, both cold-rolled coil and hot-dipped galvanized sheet p...Read More
Today, INK Research turns its attention to a Canadian biotechnology stocks that has been soaring on the back of renewed investor interest in the Canadian Healthcare sector. Two years ago, investors flocked to the group to chase pot stocks. This time around, investors seem to be more interested in genuine health care names that focus on using scientific research to develop therapeutics for COVID-1...Read More
Share this articleToronto-based Barrick Gold Corp. says it has cashed in most of its shares in Hong Kong-listed Shandong Gold Mining, taking advantage of an increase in price as world gold prices strengthen.It says it realized US$210 million (C$285 million) from the sale of 79.3 million shares of the Chinese state-controlled company at a price of HK$20.50 per shareBarrick says it purchased the...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR?On the back of US steelmakers' $50- to $60-per-ton price hikes in late April, domestic hot-rolled coil prices improved to a monthly average of $493 per ton in May, up from $488 per ton in April. In contrast, both cold-rolled coil and hot-dipped galvanized sheet p...Read More
Steel rebar and billet prices in the United Arab Emirates increased this week despite only moderate demand, sources told Fastmarkets on Tuesday June 16.It came as no surprise, however, as market participants in the country were expecting prices to rise.Domestic rebarThe country's biggest producer, Emirates Steel, is offering rebar at 1,773 dirhams ($483) per tonne ex-works from June 16, up fr...Read More
Rebar and wire rod producers from the Commonwealth of Independent States (CIS) increased their offer prices after hikes by Turkish suppliers this week, in response to higher scrap costs.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $267.66 per tonne cfr on Monday June 15, up from $260.12 per tonne on the same day last week.And the daily index fo...Read More
Turkish steel producers continued to stay away from the deep-sea scrap import market, but the current firm prices could soon start to rise if demand for rebar grows, sources said on Tuesday June 16.After booking nine deep-sea cargoes, totalling 250,000 tonnes last week, the Turkish steel producers have been quiet since the start of this week.They are still expected to book more cargoes,...Read More
Seaborne iron ore prices went up on Tuesday June 16 following a rise in the futures market due to a weekly decrease in shipments from Australia and Brazil, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.85 per tonne, up $1.41 per tonne.62% Fe low-alumina fines, cfr Qingdao: $107.80 per tonne, up $1.68 per tonne. 58% Fe fines high-grade premium, cfr Qingdao:...Read More