The bullish momentum in China's stainless steel market in the first half of 2021 will likely extend into the third quarter, which would underpin prices for upstream products such as nickel pig iron (NPI) and ferro-chrome, market participants say.But several mills' plan to put new capacity into operation could weigh on prices in the fourth quarter, which would affect the upstream market for these r...Read More

Maurice Jackson of Proven and Probable discussed the latest news out of Magna Gold with the company's CEO, Arturo Bonillas. Maurice Jackson: Joining us for a conversation is Arturo Bonillas, the CEO of Magna Gold Corp. (MGR:TSX.V; MGLQF:OTCQB). Sir, it's a pleasure to speak with you today to discuss the opportunity before us in Magna Gold. Before we delve into company specifics, Mr. Bonillas, ple...Read More

Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More

Gold, silver, and theirminers’ stocks suffer their weakest seasonals of the year in early summers.  With traders’ attention normally diverted to vacationsand summer fun, interest in and demand for precious metals usually wane.  Without outsized investment demand, goldtends to drift sideways dragging silver and miners’ stocks with it.  Long feared as the summer dold...Read More

Russia-origin aluminium will carry an export duty of 15% with a minimum rate of $254 per tonne from August 1 until December 31 this year, according to the Russian government.Export duties have been approved on 340 non-ferrous and steel products, after Russian Prime Minister Mikhail Mishustin signed an official decree on Friday June 25.Primary aluminium, under harmonized system code 760110, will al...Read More

Export prices for steel slab from the Commonwealth of Independent States dropped in the week to Monday July 5 amid decreasing finished flat steel values in the region, as well as a possible increase in supply through July before Russia imposes an export duty on metal products in August."The price trend in hot-rolled coil has affected the slab sector. MMK [Magnitogorsk Iron & Steel Works] scared ev...Read More

Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More

The latest data for the global manganese ore market for the week ended July 2, 2021.Read More

Tina Litzinger has been appointed as Vale's head of nickel sales west.Litzinger will be responsible for the company's sales of nickel and cobalt...Read More

Gunnar Groebler has taken over the position of chairman of the executive board and chief executive officer of German steelmaker Salzgitter, the company said on July 1.He replaces Heinz J??rg Fuhrmannm, who has retired.Groebler intends to further the development of Salzgitter as a future-oriented steel and technology group, with a focus on the company's...Read More

Kalidas Madhavpeddi has been appointed as the new chairman at Glencore, the commodities company announced on Monday July 5.Madhavpeddi will take over from retiring chairman Tony Hayward on July 30. Currently non-executive director of Novagold Resources Inc, Trilogy Metals Inc and Dundee Precious Metals Inc, Madhavpeddi has more than 40 years of experience in the international mining...Read More

The bullish momentum in China's stainless steel market in the first half of 2021 will likely extend into the third quarter, which would underpin prices for upstream products such as nickel pig iron (NPI) and ferro-chrome, market participants say.But several mills' plan to put new capacity into operation could weigh on prices in the fourth quarter, which would affect the upstream market for these r...Read More

Base metals price movements on the London Metal Exchange were mixed during trading on Monday July 5, with copper and tin making the best showings among the complex.Copper's three-month price rallied upward by more than $130 per tonne during Monday's trading, to $9,511 per tonne at the 5pm close, from $9,376.50 per tonne on Friday, despite only 12,404 lots being traded during the day.While the stro...Read More

Iron ore prices were up on Monday July 5 with market sentiment improving because of the easing of restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.82 per tonne, up by $3.84 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.14 per tonne, up by $3.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184...Read More

Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.Markets taking comfort from Friday's US employment report. Markets likely to be quiet with the United States celebrating Sunday's Independence DayBase metalsLME three-month l...Read More

Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More

RAPAPORT... Canada-based jewelry retailer Birks Group saw sales slump for the full fiscal year as the coronavirus pandemic shut many of its stores.Revenue slid 16% to CAD 143.1 million ($115.9 million) in the 12 months ending March 27, the company reported recently. Comparable-store sales - at branches open for more than a year - fell 14%. All of the retailer's locations were closed during the fir...Read More

RAPAPORT... Regional health authorities for Canada's Northwest Territories have declared the coronavirus flare-up at the Ekati mine to be over.The Office of the Chief Public Health Officer (OCPHO) announced an outbreak at the site on May 31, after two employees were confirmed positive for the virus during regular testing, it said last week. The Northwest Territories defines an outbreak in a closed...Read More

RAPAPORT... Belgium's polished-diamond exports more than doubled year on year to $555 million in May as the country's trade bounced back from last year's pandemic-induced slump. A sharp rise in export volume outweighed a drop in the average price per carat, according to recent data from the Antwerp World Diamond Centre (AWDC).Belgium trade data for May 2021  Read More

RAPAPORT... A recent global meeting of the Kimberley Process (KP) ended in controversy as Chinese delegates allegedly clashed with a representative of nonprofit organizations on the issue of conflict diamonds.Attendees from China interrupted a closing statement by Shamiso Mtisi, the coordinator of the Civil Society Coalition, after he criticized the country's approach to the matter, Mtisi cla...Read More