Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliGiven the LME copper price rallied to an almost 10-year high on Tuesday, it is no surprise Jefferies continues to push the red metal as its "preferred" commodity.Read More
Flat steel import prices were mostly unchanged, with hot-rolled coil (HRC) bookings made from India to the United Arab Emirates and Saudi Arabia during the week, sources told Fastmarkets on Tuesday February 23.Despite prices remaining mostly stable, market participants expect price increases because of the recent rises in global markets.Fastmarkets' weekly price assessment for steel HRC, export, f...Read More
Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliAuteco has the right ingredients with PickleSPONSOREDauteco mineralsAzure's Western Australia nickel success could get golden hueSPONSOREDazure mineralsEnvironmental and social governance (ESG) is critical to the success of miningSPONSOREDonyen corporationThe holes returned long intervals of high-grade mineralisation from sur...Read More
The steel billet and rebar markets in the United Arab Emirates remained quiet in the week to Tuesday, February 23, with buyers expecting prices to increase, sources told Fastmarkets."If the prices will increase is not the question," a trader said, "[but rather] by how much will prices increase?" Rebar producers in the UAE are expected to announce new prices soon and buyers have been in wait-a...Read More
Export prices for steel billet from the Commonwealth of Independent States surged on Tuesday February 23, with several cargoes sold at higher prices to Turkey.Turkish customers accepted price increases for billet because of the continuing uptrend in the sector, based on import scrap and local billet prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turk...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates.There are cross currents flowing through the market; sentiment is strong while people look forward to a super-charged economic recovery once vaccines allow a return to a more normal w...Read More
Charter Communications (CHTR), a NASDAQ 100 stock moved below $593.09 extending an intermediate downtrend.Intuitive Surgical (ISRG), a NASDAQ 100 stock moved below $735.64 completing a double top pattern.Advanced Micro Devices (AMD), a NASDAQ 100 stock moved below $84.61 extending an intermediate downtrend.MercadoLibre (MELI), a NASDAQ 100 stock moved below $1,700.00 completing a double top patter...Read More
Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More
A summary of production figures and financial results from Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) for the fourth quarter and full-year 2020, as stated in its earnings report published on Monday February 22.In brief Power shortages and the stoppage of the No2 blast furnace at the Presidente Vargas mill (UPV) until mid-November drove slab output down during the fourth quarter. Sl...Read More
A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More
Iron ore prices went into reverse on Tuesday February 23 amid a correction after the surge on Monday, sources told Fastmarkets, but robust demand means prices should not fall much further.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.05 per tonne, down $2.91 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.52 per tonne, down $2.46 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets fluctuated on Tuesday February 23, while most market participants, uncertain where prices will go, adopted a wait-and-see attitude, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.78 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $220.28 per tonne, down $3.11 per tonne Hard cokin...Read More
Major steel producer and importer China is more interested in importing steel billet compared with ferrous scrap this week, market sources told Fastmarkets on February 23."Many Chinese buyers are in the market bidding for steel billet rather than ferrous scrap, especially with lingering concerns over whether the next few cargoes scheduled to discharge in Chinese ports can clear customs checks," a...Read More
- Company expands its outreach in Cheyenne, Wyoming for the CK Gold Project- Opens a new office in Cheyenne in effort to start a long-term engagement aimed at economic and employment benefits for the communityCHEYENNE, Wyo., Feb. 23, 2021 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the "Company"), a gold exploration and development company, is pleased to announce the opening of its office in...Read More
China's domestic rebar prices softened on Tuesday February 23 amid falling futures, weak demand and destocking pressure. DomesticEastern China (Shanghai): 4,600-4,620 yuan ($712-715) per tonne, narrowed downward by 20 per tonne Buyers submitted lower bids for rebar during the day and only bought from sellers who were under pressure to sell due to high stock levels.An industry analyst noted that ma...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates. There are cross currents flowing through the market; sentiment is strong while people look forward to a super-charged economic recovery once vaccines allow a return to a more normal...Read More
Latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam. Key data February 16, 2021, 20 tonnes (5 tonnes July, 5 tonnes August, 5 tonnes September, all at $23.10 per lb; a further 5 tonnes for August at $24 per lb) February 10, 2021, 30 tonnes (5 tonnes each for July to Dec...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs...Read More
Eldorado Gold (TSX: ELD; NYSE: EGO) has released an initial resource estimate for the Ormaque deposit within its Lamaque operation in Quebec. The deposit, halfway between the operating Lamaque-Triangle mine and the Sigma processing facility, includes 2.6 million inferred tonnes at 9.53 grams gold per tonne, and contains 803,000 gold ounces. Ormaque is also next to an ore haulage decline that is un...Read More