Turkish steel mills continued to book deep-sea scrap cargoes for February shipment at increasing prices, which are being driven up by improving steel and billet values, sources said on Wednesday December 9.A steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) and 15,000 tonnes of a mixture of bonus, busheling and plate & structural (P&S) at an...Read More
Aurubis, Europe's biggest copper producer, posted improved earnings in its latest annual results, largely thanks to higher scrap refining charges (RC) since its acquisition of recycling firm Metallo in May 2020. For its financial year to September 30. 2020, Aurubis' operating earnings before taxes (EBT) grew by 15% to ?,?221 million ($268 million) year on year, the company said...Read More
The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.The potential headwinds - political tensions between the United States and China, a no-deal Brexit and the continuing out of control spread of the virus, are for now taking a backseat. China's consumer price i...Read More
Share this article HALIFAX - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) today reported on several developments with rare earth elements involving the US government's National Defense Authorization Act for Fiscal Year 2021.The bill, which passed the U.S. House of Representatives by a vote of 335 to 78 on December 8, 2020, requires most Department of Defense systems to use REE mined and r...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
Elementos Limited (ASX: ELT) is looking to fill a gap in the tin market and expects to commence tin production in 2023, aiming to meet some of the forecast global tin supply shortfall of 40,000 tpa. The Company's assets include two projects; The Oropesa Tin Project in Spain will have an open-cut mining operation and a conventional processing facility, producing tin concentrates to be shipped to sm...Read More
Hi folks, Sean McCloskey, your newest Energy and Capital editor here.Normally on Wednesdays, Keith brings you his latest market insights. But over the next few weeks, while he hunts down your next round of opportunities for 2021, I'll be filling in. Today, I want to share a COVID-19 play that no one is talking about but could offer you impressive upside.But first let me set the stage for why I t...Read More
Hot-rolled coil prices in the United States have resumed their uptrend, with buyers on the sidelines waiting for mills to open their order books amid limited material availability, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $44 per hundredweight ($880 per short ton) on Wednesday December 9, up by 0.64% after slipping to $43.72 per cwt on...Read More
Domestic prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?603.33 ($730.77) per tonne on Wednesday, up by ?,?25.83 per tonne from ?,?577.5...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to September 30, 2020.In briefNet sales were down because of globally weak demand due to the Covid-19 pandemic, Ezz Steel said on Tuesday December 8.The effects of the pandemic included "a significant drop in construction activity, contributing to this decrease [in sales]," it added.E...Read More
Steel wire rod prices in the south of Europe moved up again in the week to Wednesday December 8, driven by tight availability of material and increasing feedstock costs, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?520-530 ($630-642) per tonne on Wednesday, up by ?,?10 per tonne from ?,?510-520 per...Read More
The domestic price in Northern Europe for steel wire rod increased again over the week to Wednesday December 9, supported by short supply, good demand and a jump in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, rose to ?,?550-570 ($666-690) per tonne on Wednesday, up by ?,?10-20 per tonne from...Read More
Turkish steel mills continued to book deep-sea scrap cargoes for February shipment at increasing prices, which are being driven up by improving steel and billet values, sources said on Wednesday December 9.A steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) and 15,000 tonnes of a mixture of bonus, busheling and plate & structural (P&S) at an...Read More
Steel billet exporters from the Commonwealth of Independent States (CIS) have continued to increase their offer prices, despite trading being limited by the difference between mills' offers and buyers' bids, sources told Fastmarkets on Wednesday December 9.Offers of steel billet for February shipment from some Russian and Ukrainian mills were heard within the range of $530-540 per tonne fob on Wed...Read More
Iran's export prices for steel billet and slab continued their uptrends in the week to Wednesday December 9, boosted by global price rises for steel products and raw material costs. Both prices have hit their highest point since July 2018, having risen sharply in recent weeks. Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran was $490-500 per tonne on December 9, r...Read More
China's domestic rebar prices dropped slightly on Wednesday December 9, with some sellers needing to destock ahead of the decline in end user demand during the winter season. DomesticEastern China (Shanghai): 4,020 -4,050 yuan ($616-620) per tonne, narrowed down by 10 yuan per tonneSome traders cut their prices by 10 yuan per tonne to attract buyers because of their pessimistic outlook on dem...Read More
Hollow steel sections prices moved higher in Europe this week due to continued rises in feedstock costs and tight supply of material, sources told Fastmarkets on Wednesday December 9.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?700-720 ($847-872) per tonne on Wednesday, up from ?,?680-700 per tonne a week earlier.The availability of hot-roll...Read More
Defense Metals Corp. reported it has appointed Jamie Spratt as a strategic advisor to the company. In a news release, Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) reported that it has appointed Jamie Spratt as a Strategic Advisor to the company.Defense Metals stated that Spratt founded a mining focused corporate finance and advisory business called Walmsley Capital Inc. where he is cur...Read More
In 2018, before the trade war betweenthe US and China put the boots to copper demand, and covid-19 mine closures/abandoned expansion plans crimped supply, we made a bold prediction: thatcopper supply is NOT going to be able to keep up with demand in the long-term.Here’s what we wrote, in Thecoming copper crunch: Even with expansions at existingmines and the ramp-up of the relatively few new...Read More
Watching Gold fall to recent lows over the past few weeks has been heartbreaking for Goldbugs. We know the real value of Precious Metals has continued to be under-appreciated over the past 24+ months – even though Gold has rallied from $1165 to over $2085 (an incredible 79%). The recent 15% decline in Gold has shaken some investors away from the longer-term opportunities, so we w...Read More