Hot-rolled coil prices in the United States continued to test 12-year highs following a wave of quietly announced but successful mill increases, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $48.89 per hundredweight ($977.80 per ton) on Wednesday December 16, up 5.3% from $46.44 per cwt on Tuesday December 15 and up 11.1% from $44 per cwt a...Read More
Share this article SUDBURY - The Federal Economic Development Initiative for Northern Ontario and the Northern Ontario Heritage Fund Corporation plan to create more than 100 full-time jobs, to improve Canada's supply chain and reduce import dependency for electric vehicle battery production.The Government of Canada and the Government of Ontario are each investing $5 million in the First Cobalt Co...Read More
Share this articleTORONTO - Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment for the fourth quarter of 2020 of US$0.1875 per common share will be paid on January 14, 2021 to shareholders of record as of the close of business on December 31, 2020. The US$0.1875 per share payment represents a 50% increase in the quarterly dividend from the previo...Read More
Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 16 due to a shortage of material in the market, sources told Fastmarkets.But the number of transactions and volumes were reported to be limited due to buyers' concern that the price rise is unlikely to be sustainable for long.Fastmarkets calculated its daily steel hot-rolled coil...Read More
Just before our office closed for the holidays, I had the pleasure of sitting down and talking about the state of the markets heading into 2021 with the founder and president of Angel Publishing, Brian Hicks.These thoughtful discussions I have with colleagues are hands-down one of my favorite parts of the job. It's incredibly rewarding to listen to and discuss ideas with top-notch analysts and the...Read More
Wire rod prices in the United States have jumped higher in response to significant scrap price increases, with mills passing those costs along to consumers, as well as a falling dollar, which has pushed import prices even higher - making them less competitive against domestic supply, Fastmarkets has learned.Fastmarkets' monthly price assessment for steel wire rod (low carbon) industrial quality, f...Read More
Rising hollow section prices in Europe this week reflected the struggle mills are facing to source feedstock material amid an ongoing shortage, sources told Fastmarkets on Wednesday December 16. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?740-750 ($899-911) per tonne on Wednesday, up from ?,?700-720 per tonne a week earlier. The availa...Read More
Prices for steel H-beams in Europe were unchanged this week after mills stopped offering material due to the unpredictable trading conditions, sources told Fastmarkets on Wednesday December 16.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?600-610 ($729-741) per tonne on Wednesday, unchanged from the week previous.In recent weeks, the rise in feeds...Read More
Turkish deep-sea scrap import prices continued to climb on Wednesday December 16, with fresh bookings heard from Europe and the Baltic Sea regions, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $435 per tonne and bonus at $445 per tonne cfr. The cargo composition could not be verified at the time of publication.Another steel...Read More
Seaborne iron ore prices rose on Wednesday December 16 after the most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) crossed the 1,000 yuan-mark ($153) to close the afternoon trading session, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.45 per tonne, up $1.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $156.71 per tonne, up...Read More
Global steel prices - which have been surging in recent weeks - will experience some correction in the first half of 2021, according to United Arab Emirates-based galvanized coil producer Al Ghurair Iron & Steel.The question is whether this correction will happen before or after the Chinese New Year, its chief executive officer, Abu Bucker Husain, said at Fastmarkets' Middle East Iron & Steel virt...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
Prices for steel slab in Iran's export market increased with new deals done over the week to Wednesday December 16, although billet prices remained stable, Fastmarkets learned.Iran's export billet prices are at their highest for the last 29 months, while Iran's steel slab export prices have reached their first new peak in 31 months.Iranian market participants expect a decline in the near future, h...Read More
A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger technology. The venture - a collaboration between the World Economic Forum and seven global companies that make up its Mining and Metals Blockchain Initiative (MMBI) - aims t...Read More
Rising hollow section prices in Europe this week reflected the struggle mills are facing to source feedstock material amid an ongoing shortage, sources told Fastmarkets on Wednesday December 16. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?740-750 ($899-911) per tonne on Wednesday, up from ?,?700-720 per tonne a week earlier. The availa...Read More
Silver Viper Minerals is now wrapping up its work at La Virginia for the 2020 season and notes that the exploration drilling aids progress toward its maiden resource at El Rubi. In a news release, Silver Viper Minerals Corp. (VIPR:TSX.V; VIPRF:OTCQB) announced drill and metallurgical test results from its La Virginia project in Mexico.The company noted that it conducted "exploration drilling at E...Read More
Samples from the Franz zone at Westhaven Gold's Shovelnose Property in British Columbia return assays as high as 51.1 g/t gold and 165 g/t silver, demonstrating "we are dealing with a large and robust mineralized system," the company states. Westhaven Gold Corp. (WHN:TSX.V) announced in a news release that sampling of the newly discovered Franz zone at its Shovelnose project in British Columbia's...Read More
Aurania Resources hypothesizes that the Colonial Spanish explored for and maybe even mined silver in the area of Lost Cities-Cutucu's Tiria-Shimpia target. In a news release, Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) announced that further study of two roads and nearby topographic features, close to its Lost Cities-Cutucu project's Tiria-Shimpia, suggests they may be ancient exploration or...Read More
StrikePoint Gold reported assays of surface samples from its Willoughby Gold-Silver Project returned grades as high as 37.3 g/t gold and 263 g/t silverin new areas of massive sulphide and veining. In a news release, StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) announced that surface sampling results collected during its 2020 exploration program at its wholly owned Willoughby gold-silver propert...Read More
Rebar consumption in Egypt was up by almost 50% month on month in November due to a resurgence in restocking activity and after the easing of building restrictions led to a slight uptick in demand. Egypt consumed 689,000 tonnes of rebar in November 2020, up by 44.14% compared with the 478,000 tonnes of rebar consumed in October, according to Ramy Saleh, chief business development officer at El Mar...Read More