PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningBy the time he steps down in April 2022, Cutifani will be nearly 64 years of age and have spent nine years as CE...Read More
A summary of the financial results for German steel and metal products distributor Kl??ckner & Co SE for the July-September quarter of 2021.Summary In the third quarter of 2021, Kl??ckner beat its own record, set in the second quarter, when it achieved the highest quarterly operating income since its initial public offering in 2006. The strong performance was driven by high steel prices amid an...Read More
PolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningThe company said its 2MW pilot truck was being assembled in South Africa, describing it as "a world first" - a z...Read More
The mood in the European hot-rolled coil market was upbeat on Wednesday November 3 despite limited trading activity, sources told Fastmarkets.Bullish sentiment was supported by a recovery in domestic demand caused by restocking activity. Further support came from news of an agreement between the United States and the EU to replace Section 232 tariffs on steel and aluminium, imposed on the bloc's 2...Read More
Export prices for steel billet and slab from Iran have decreased in the latest deals during the week ended Wednesday November 3.The country's semi-finished steel product export market was slow last week because of decreasing prices in China.Some 40,000 tonnes of slab was sold to Southeast Asian buyers...Read More
Asiamet has signed a heads of agreement to sell a 51% stake in BKM to locally-listed contract miner PT Delta Dunia Makmur (DOID) in exchange for US$50 million in funding, to be delivered in four tranches.Total capex is estimated at US$232 million, of which US$32 million is contingency."The Asiamet board endorses and fully supports the proposed transaction which establishes a clear path for the fin...Read More
Prices in the market for steel billet exports from the Commonwealth of Independent States region reduced on Wednesday November 3 due to cautious buyers, sources told to Fastmarkets.Fastmarkets' calculation of its daily steel billet index, export, fob Black Sea, CIS was $646 per tonne, down by $7 day on day."Scrap prices in Turkey [the...Read More
The platform, launched two years ago by Marex and Earth-i, monitors up to 90% of global smelting capacity for copper and nickel.It said the global dispersion index for copper rose from 49.3 in September to average 52.2 in October.A reading above 50 indicates greater activity levels than usual.In nickel, the index rose from 41.1 to 46, with the Americas rebounding to 55.6 as both Sudbury smelters r...Read More
Formed a few years ago, the company has worked up and transformed some unloved copper and gold assets in Brazil into a C$2 billion company that delivers what it claims is an industry-leading 65% return on invested capital from production of around 45,000 tonnes per year of copper and 38,000 ounces a year of gold. Mining Journal spoke with co-founder and CEO David Strang to find out more.Its core s...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board on Wednesday November 3, suggesting dips are once again finding support.The European Union’s manufacturing purchasing managers’ index (PMI) out on Tuesday at 58.3, while slightly weaker than September’s 58.5, still showed strong expansion, which will be helping to counter the slowd...Read More
Brazilian exports of iron ore slipped by 0.84% year on year in October, the country's economy ministry said on Wednesday November 3.Iron ore exports totaled 30.86 million tonnes during the month, down from 31.12 million tonnes in October 2020.Daily average volumes totaled 1.54 million tonnes, also down by 0.84% from 1.56 million tonnes in the same comparison. October had 20 workdays in both 2020 a...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Investors are waiting for news at 2:00 PM EDT from the Federal Reserve on interest rates and tapering of its bond purchases.Index futures were virtually unchanged following release of the October ADP Employment Report at 8:15 AM EDT. Consensus was a gain of 395,000 versus an increase of...Read More
Iron ore prices went up on Wednesday November 3 with support from the demand in low-grade fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $100.10 per tonne, up by $4.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $101.70 per tonne, up by $5.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.15 per tonne, up by $8.45 per tonne65% Fe Brazil-origin...Read More
Turkish steel producers have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Wednesday November 3.A steel mill in the Marmara region booked a Baltic Sea cargo of HMS 1&2 (80:20) at $490 per tonne cfr - although the volume was not clear at the time of...Read More
Steel scrap buyers in Taiwan were bearish about the containerized scrap market, expecting to book cargoes at lower prices in the short term, market sources told Fastmarkets on Wednesday November 3. Taiwan secures lower-priced cargoesVietnam reports lower offersChina prices continue downtrend amid bearish sentiment in local marketTaiwanTaiwanese buyers have secured containerized heavy melting scrap...Read More
Seaborne coking coal prices across the board in both cfr and fob markets were relatively flat on Wednesday November 3.Fastmarkets indices Premium hard coking coal, cfr Jingtang: $600.88 per tonne, up $0.63 per tonne Hard coking coal, cfr Jingtang: $525.23 per tonne, unchanged Premium hard coking coal, fob DBCT: $403.57 per tonne, unchanged Hard coking coal, fob DBCT: $339.59 per tonne, unchang...Read More
Most base metals on the London Metal Exchange traded higher during Wednesday's morning session, bouncing back above the previous day's closing prices aided by well-supported coal prices in Asia.Three-month aluminium traded at $2,733.50 per tonne on Wednesday morning, compared with its close on Tuesday of $2,692 per tonne. Market analysts said well-supported coal prices helped push the light metal...Read More
Trading in China's spot hot-rolled coil market picked up on Wednesday November 3, with prices rebounding after two consecutive days of sharp losses.DomesticEastern China (Shanghai): 5,050-5,100 yuan ($789-797) per tonne, up by 50 yuan per tonneSpot HRC prices in eastern China recovered from an eight-month low during the day while the most-traded HRC contract on the Shanghai Futures Exchange also b...Read More
China's domestic rebar prices tumbled further on Wednesday November 3, which stimulated demand. Domestic Eastern China (Shanghai): 4,950-4,980 yuan ($774-778) per tonne, down by 130 yuan per tonneRebar sellers lowered their offers in the morning on a weak futures market, a trader in Shanghai said. The January rebar futures contract on the Shanghai Futures Exchange was lower...Read More
Domestic stainless steel prices in China dropped sharply over the week ended Wednesday November 3, causing exporters in the country to lower their offers as well. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,800-20,200 ($3,094-3,156) per tonne, down by 800-900 yuan per tonne from a week earlier Sentiment in the stainless steel futures market remained bearish over the...Read More