Canadian spodumene producer Nemaska Lithium's filing for bankruptcy protection could be a bellwether moment for spodumene producers searching for capital while lithium prices continue to fall, making upstream investment seem unattractive, market sources have told Fastmarkets.The Canadian junior miner filed for bankruptcy protection on December 23 last year to provide it with more time to seek refi...Read More

FORT FRANCES - Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced Ontario is investing $83,000 through the Northern Ontario Heritage Fund Corporation (NOHFC) in two community development projects in the Fort Frances-Rainy River region.Investments include: $65,000 for the Town of Fort Frances to create redevelopment plans for two properties that were formerly part o...Read More

TOWNSHIP OF SIOUX NARROWS-NESTOR FALLS - Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced the Township of Sioux Narrows-Nestor Falls is receiving $8,500 through the Northern Ontario Heritage Fund Corporation (NOHFC) to undertake a review and update of its existing Highway Corridor Redevelopment Plan.The project will provide opportunities for economic growth and p...Read More

KENORA - Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced Ontario is investing $250,000 through the Northern Ontario Heritage Fund Corporation (NOHFC) in the Kenora SportsPlex.The Kenora SportsPlex will be expanded to increase the second-floor viewing area, improve accessibility and maximize use of the playing field area as a regulation-sized field of play. This...Read More

The flat-rolled steel import market was mixed on Wednesday January 8, with some products rising sharply due to gains in the domestic market while others were quiet following no immediate improvement in steel demand after the December holiday lull, market participants said.Entering the first full work week following the Christmas and New year holiday break, a number of domestic steelmaker...Read More

Today is Thursday, January 9, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,551.80. It's down -0.32% from yesterday and up...Read More

Hot-rolled coil prices in the United States have remained solidly above $30 per hundredweight ($600 per short ton) following a fifth round of mill price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.48 per cwt ($609.60 per ton) on Thursday January 9, down modestly from $30.54 per cwt on Wednesday January 8 but up by 5.1% from $28.99 per cwt a week...Read More

Today is Thursday, January 9, 2020, and this is your daily oil stocks roundup. Today we're looking at the valuations of Cabot Oil & Gas Corporation (NYSE: COG), Plains All American Pipeline LP (NYSE: PAA), and Parsley Energy (NYSE: PE).Cabot Oil & Gas Corporation (NYSE: COG)Cabot Oil & Gas Corporation (NYSE: COG) is a $6.931 billion company today with a one-year return of -31%. Let's look at its p...Read More

The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More

It sure is a great time to own gold!A coming economic implosion as a result of ill-conceived trade wars, rising debt obligations, and the threat of yet another war in the Middle East.It's the perfect recipe for a gold bull market.Certainly I own gold. I'd be a fool not to.But make no mistake; the justification for owning gold in times of conflict is, for lack of a better word, stupid.We're always...Read More

Liberty Steel Group will cut 355 jobs at its UK steelworks in Stockbridge, South Yorkshire and Newport, South Wales due to "challenging market conditions", the company said on Thursday January 9. This follows a move late in 2019 when the GFG Alliance announced plans to consolidate all its steel businesses into one global group named Liberty Steel Group. The company said it has decided to redu...Read More

Domestic prices for long steel products in the Turkish market have gone down slightly due to a recent strengthening of the country's lira against the US dollar, sources said on Thursday January 9.The Turkish lira gained against the dollar on Thursday, with the United States and Iran appearing to retreat from further conflict and reducing the tensions in the Middle East.The Turkish currency was tra...Read More

Prices of steel billet and rebar in Egypt decreased in the week to Thursday January 9 because of weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,775-10,580 ($608-658) per tonne ex-works including 14% VAT but deals were made at lower prices. Several deals were heard...Read More

Turkish steel producers have broken their silence in the deep-sea scrap markets after a mill in the Marmara region bought a European cargo, sources said on Thursday January 9.The mill booked the European cargo - comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 15,000 tonnes of bonus at an average price of $300 per tonne cfr - late on Wednesday January 8. .....Read More

Physical iron ore prices fell on Thursday January 9 following derivatives losses amid paused restocking from Chinese mills and a big increase in steel inventories.62% Fe fines, cfr Qingdao: $94.37 per tonne, down $1.85 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.46 per tonne, down $1.85 per tonne.62% Fe low-alumina fines, cfr Qingdao: $95.22 per tonne, down $1.65 per tonne.58% Fe fines...Read More

China has granted allowances for 3,180 tonnes of ferrous scrap imports in the second round of import quotas issued by the China Solid Waste & Chemicals Management Center on Wednesday January 8. This represents a more than four-fold increase from the previous ferrous scrap quotas which totaled 610 tonnes issued in October 2019. The first round of import quotas for 2020, announced at the end of Dece...Read More

Turkish steel billet prices have remained stable over the past week thanks to steady imported scrap values, sources said on Thursday January 9.Billet suppliers in the Commonwealth of Independent States (CIS) region have continued to offer material to Turkey at around $420-430 per tonne cfr. But customers in Turkey were only bidding $410 per tonne cfr or less.Fastmarkets' weekly...Read More

Prices of steel billet and rebar in Egypt decreased in the week to Thursday January 9 because of weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,775-10,580 ($608-658) per tonne ex-works including 14% VAT but deals were made at lower prices. Several deals were heard...Read More

Export prices for Chinese rebar picked up slightly on Thursday January 9 on an appreciating yuan, while the domestic market was flat amid inactivity.Eastern China (Shanghai): 3,680-3,710 yuan ($530-534) per tonne, unchanged Northern China (Beijing): 3,540-3,570 yuan per tonne, unchangedRebar demand remained persistently weak, which continued to weigh on prices during the day.Traders did not lower...Read More

By: Gary SavageWe are still in an intermediate trend higher in gold. These corrections typically last 4 to 9 days in an intermediate trend cycle..https://blog.smartmoneytrackerpremium.com/Read More