South Korean steelmaker Hyundai Steel reported an almost 70% decline in operating profits in 2019 amid tightening margins between its raw materials buying prices and steel sales prices.In brief Operating profit of 331.3 billion Won ($277 million) in 2019, down by 67.7% year on year. Consolidated sales of 20.55 trillion Won, down by 1.3% year on year. Profits fell more sharply than sales due to raw...Read More
The broad-based rally across markets continues with investors focusing more on the improving economic data than they are on the uncertain economic impact of the Wuhan coronavirus (2019-nCoV). Claims by Chinese media that a treatment for the virus had been found fueled the rallies yesterday, but the World Health Organization talked down the news.Asian equity indices up either side of 2% this mornin...Read More
China's hot-rolled coil prices continued to drop on Thursday February 6 on thin trading, which forced some mills to put more focus on exports to reduce inventories.DomesticEastern China (Shanghai): 3,570-3,580 yuan ($511-512) per tonne, down 20-30 yuan per tonneNorthern China (Tangshan): 3,270-3,280 yuan per tonne, narrowing downward by 20 yuan per tonneA Shanghai-based trader said he had sold sev...Read More
China's rebar prices were flat on Thursday February 6 amid inactivity, though some optimism emerged following the Chinese government's announcement of import duty cuts for certain products from the United States. Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedChina will halve its 5% and 10% tariffs on $75 bil...Read More
U.S. equity index futures continued to move higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 215,000 versus revised 217,000 last week. Actual was 202,000. Consensus for fourth quarter Productivity was an increase of 1.2% versus a decline...Read More
Weak demand for new energy vehicles (NEVs) in China is expected to hit domestic Chinese cobalt prices and could see Chinese demand for imported hydroxide fall. But, seaborne prices for processed materials could become tight because China is the world's largest processor of cobalt, some of which is exported. Supply and stocks Production halts (Mutanda) have caused concern about tightness, but...Read More
China imported 1,623 tonnes of cobalt metal in 2019, up 54.6% from 1,050 tonnes in 2018, according to official but unconfirmed data seen by Fastmarkets. Fourth-quarter shipments totaled 527 tonnes, up 24.3% from 424 tonnes in the third quarter and up eightfold from 58 tonnes in the fourth quarter of 2018. Chinese appetite for seaborne cobalt metal grew in 2019 due to a narrowing of the import arbi...Read More
Tight spot availability, mainly resulting from the extended Chinese New Year holiday, as well as transportation disruptions during the Wuhan coronavirus outbreak have underpinned the cobalt sulfate price in China. Fastmarkets' price assessment of cobalt sulfate 20.5% Co basis, exw China rose to 52,000-53,000 yuan ($7,456-7,600) per tonne on Wednesday February 5, up 4% from 50,000-51,000 yuan per t...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works,...Read More
A summary of the financial results for Finnish stainless steelmaker Outokumpu for the fourth quarter and full 12 months of its 2019 financial year.In briefThe company noted the effects on its earnings of "exceptionally low deliveries across all business areas" and high nickel prices.High import volumes as a result of US trade wars were blamed for the struggles of the European market and the intens...Read More
Restricted access to ore already in ports presents the threat of alloy shutdowns, both of which could provide short-term price support for ore and alloy, but the accompanying ore stockbuild in ports is expected to offset gains longer term. Supply and stocks Ore supply from South Africa and Australia has not been much affected much by the coronavirus outbreak so far, although there are talks o...Read More
Most ferro-chrome smelters had covered their ore needs for this week and logistics disruptions are minimal between ports and many major smelters. But logistics disruptions are hitting mills as they seek alloy. Predictions of higher prices have not been realised so far. Supply and stocks Chrome ore inventories at the main ports of Tianjin, Qinzhou, Lianyungang and Shanghai: 3.12-3.42 million t...Read More
Lucara Diamond (TSX: LUC) has recovered a 549 carat diamond from its Karowe mine in Botswana.The mine - one of the world's most prolific producers of large and high-value type IIA diamonds - is the only diamond mine in recorded history to have produced two stones greater than 1,000 carats.Lucara said the unbroken 549 carat white diamond is the fourth-largest diamond found at Karowe and the first l...Read More
Malaysia is set to begin issuing bauxite mining licenses in early 2020, four years after it imposed a ban in response to environmental concerns.The Southeast Asian nation produced very little bauxite prior to 2014, but when Indonesia, China's biggest supplier, imposed a ban on exports of unprocessed minerals in January 2014, China turned to Malaysia to fill the bauxite gap.At the time, Indonesia w...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesCase study: platform financeSPONSOREDminexiaWhile the pace was certainly lively and the stamina of certain press members truly remarkable, the buzz around the city was more than enough...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesCase study: platform financeSPONSOREDminexiaLast week's ‘From the Capital' column recounted efforts by Tom Palmer, the head of leading gold miner Newmont Corporation, to broaden t...Read More
Barrick Gold is not looking to merge with copper miner Freeport-McMoran, CEO Mar...Read full newsRead More
"@Simple_Trends @SmokZy_Joe Once she's done throwing Bernie under the bus --- and Joe's number's don't improve ---- at some point --- she's gonna try and run.Might even take until the convention, but I believe she's working it behind the curtain."Read full newsRead More
Emgold Mining Corporation announces that it expanded its Casa South Property, QC with the addition of 24 mineral claims totaling approximately 1,320 ha.Read full newsRead More
TriStar Gold Inc. pre-feasibility study advancing with results including 4m @ 10.8 g/t gold in hole RC-19-383.Read full newsRead More