Copper scrap discounts in the United States rose this week in response to the strong Comex copper price, along with slowing demand as some mills finished purchasing scrap metal for the month."There has been a little widening of spreads due to the high Comex," a scrap seller said.A copper scrap trader said that "some spreads had tightened from mid-December, but now that a couple of mills have fille...Read More
Rio Tinto is to become the first producer of high-quality scandium oxide in North America and will produce around one-fifth of the current level of world supply from a planned plant in Qu?(C)bec, Canada.The plant, currently under construction at the company's Rio Tinto Fer et Titane (RTFT) metallurgical operation in Sorel-Tracy, will begin commercial production in June this year. The RTFT Research...Read More
Russian mining company Nornickel is to join the Responsible Sourcing Blockchain Network (RSBN), an industry collaboration across the minerals supply chain that uses blockchain to support responsible sourcing and production practises from mine to market.The move will see Nornickel's supply chains - including each stage of the company's vertically-integrated operations, from Russian mines to refiner...Read More
The London Metal Exchange's latest off-warrant stock data showed an increase of 3.9% in material held outside the LME warehouse network in November 2020. The amount of metal held off-warrant increased by 72,640 tonnes in November, a similar rise to that seen in October, when it rose by 78,092 tonnes. Data collected by the LME showed there was a total of 1.96 million tonnes of metal held off-warran...Read More
Rio Tinto's New Zealand Aluminium Smelter (NZAS) in Tiwai Point will continue to operate until December 31, 2024 after reaching an electricity agreement with Meridian Energy, the producer said on Wednesday January 13. Rio Tinto had said in July last year that it would shut the smelter by August 2021 after a strategic review showed the business was no longer viable due to high energy costs and...Read More
Zinc registered the biggest fall and nickel was the only metal to post gains in the morning session at the London Metal Exchange on Thursday January 14.The base metals complex remains unsettled ahead of United States president-elect Joe Biden's impending stimulus announcement. Zinc's three-month price was down 1.7% to $2,727.50 per tonne on Thursday at 9am, down from Wednesday's 5pm...Read More
Last week's price increases by domestic producers have propelled US rebar prices to their highest point in over nine years.Fastmarkets assessed the price of steel reinforcing bar (rebar), fob mill US at $39.50 per hundredweight ($790 per short ton) on Wednesday January 13, up 4.6% from $37.75 per cwt the week before and increase of 25.4% from $31.50 per cwt one year ago. US marketDomestic reb...Read More
Trident aims to fill valuable nicheSPONSOREDtrident royaltiesThe company said drilling also intercepted mineralisation considerably beyond the 200m average depth-extent of historical drilling at Warintza Central. Highlights included 1,067m grading 0.Read More
Trident aims to fill valuable nicheSPONSOREDtrident royaltiesThe company produced 1.21Moz gold and 119Mlb copper in the December quarter, achieving average prices of US$1,874/oz and $3.25/lb.Read More
The domestic price for hot-rolled coil rose day on day in Northern Europe on Thursday January 14 due to limited prompt supply, sources told Fastmarkets. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?705.12 ($858.99) per tonne on Thursday, up by ?,?13.87 per tonne day on day from ?,?691.25 per tonne on Wednesday. The index was also up by ?,?3...Read More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineGold production fell 30% year on year in the December quarter to 13,534 ounces, while coppe...Read More
Flat and long steel imports into Brazil increased in December, amid strong price increases in both markets, according to the latest figures from the country's economy ministry.Brazilian total flat steel imports came to 91,522 tonnes in December, up by 54.99% from 59,051 tonnes in the same month in 2019.Imports of hot-rolled coil from Russia reached 4,037 tonnes in December 2020. In comparison, Bra...Read More
Sentiment in the CIS export steel billet market has been negatively affected by recent developments in import scrap prices in Turkey, with buyers being inactive and expecting prices to fall, sources told Fastmarkets on Thursday January 14.Buyers had mostly prepared to adopt a wait-and-see approach, considering the recent reverse of sentiment in the Turkish import scrap market [LINK], and were expe...Read More
The base metals on the London Metal Exchange and on the Shanghai Futures Exchange were mixed this morning, Thursday January 14, with prices generally holding up in high ground but some weakness is showing up on the charts in the likes of zinc.But reports that US President-elect Joe Biden is considering a fiscal relief package that could be as large as $2 trillion may well underpin further gains in...Read More
Trident aims to fill valuable nicheSPONSOREDtrident royaltiesCopper production in Q4 was up 8.5% year-on-year to 14.Read More
Turkish billet prices made a downward correction on Thursday January 14 in line with negative sentiment in the scrap market and limited demand for the material. Market participants said they expected a slight downward correction in scrap prices, which resulted a slight decrease in billet prices in Turkish domestic, export and import markets. Fastmarkets' weekly price assessment for steel bill...Read More
Look beyond market approach to project valuations: van ZylLeadershipNeo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesThe company, already listed on Canada's TSX and known as Strongbow Exploration until a name change in the summer of 2020...Read More
China large cap iShares (FXI) moved above $48.71 extending an intermediate uptrend after China's December trade data beat consensus.Cintas (CTAS), a NASDAQ 100 stock moved below $334.13 setting an intermediate downtrend. Pre-opening Comments for Thursday January 14thU.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.Delta Airlines add...Read More
Ferrous scrap exports from the United States were marginally lower month on month in November, with shipments to Bangladesh, Turkey and Mexico all declining, according to the latest figures from the US Census Bureau.US exports of ferrous scrap totaled nearly 1.49 million tonnes in November, down by 0.4% from 1.49 million tonnes in October but still up from almost 1.18 million tonnes in September.S...Read More
Polish coking coal miner Jastrzebska Sp??lka Weglowa (JSW) has reported a steep increase in output and sales in the fourth quarter of 2020 due to recovery in the European steel industry from the consequences of the Covid-19 pandemic and a gradual restart of steelmaking capacities.Improved demand for blast furnace coke across the EU due to the restarts had a positive effect on JSW's results for the...Read More