Walgreen Boots (WBA), a Dow Jones Industrial stock moved below $39.83 setting an intermediate downtrend. The company announced plans to reduce its workforce by 7,000.CVS Health (CVS), an S&P 100 stock moved below $61.82 setting an intermediate downtrend.More precious metal stock breakouts on U.S. equity markets! Wheaton Precious Metals moved above US$47.05 to an all-time high, Kinross Gold mov...Read More

The Turkish deep-sea ferrous scrap import market remained quiet, with mills in the country holding back from purchasing due to weak finished long steel sales, sources said on Thursday July 9.Turkish steel producers booked five deep-sea cargoes late last week, totalling around 140,000 tonnes.But the mills then went quiet in the deep-sea market at the beginning of this week after failing to sel...Read More

South Africa's government has launched an investigation into how the supply of scrap metal has been affected by the challenges related to the Covid-19 pandemic, and has banned scrap exports for a period of two months beginning July 3.The country's minister at the department of trade, industry and competition (DTIC), Ebrahim Patel, has issued a trade policy directive to the International Trade Admi...Read More

Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, has cancelled the state of force majeure declared to its clients in early April due to the effects of the Covid-19 pandemic, the company said on Thursday July 9.JSW adopted a resolution on the cancellation on Thursday. The state of force majeure has been in place for three months.https://www.metalbulle...Read More

The price for cargoes of steel scrap imported to Bangladesh increased by $4 per tonne at the midpoint week on week following stronger demand for scrap in the South Asian nation, together with a revival of activity from Turkey. Fastmarkets' price assessment for bulk cargoes of steel scrap, HMS 1&2 (80:20), deep-sea origin, import, cfr Bangladesh was $268-275 per tonne on Thursday July 9, up $3...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.In a webinar we conducted on Asian ferro alloys, our research team discussed the Chinese authorities' announcing some major infrastructure investments that will increase demand for steel and steel raw materials, including iron ore. Our research shows that the recent infrastructure investment announcements are equal to about...Read More

Movements in prices for seaborne iron ore were rangebound on Thursday July 9, with concerns coming to light over the limited port inventories of some low- and mid-grade iron ore fines brands, according to market participants.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $106.32 per tonne, down by $0.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $108.30 per tonne, up by $0.02 per ton...Read More

Seaborne prices generally remained flat on Thursday July 9 amid a muted spot market while buyers and sellers are in a stalemate, market participants said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.03 per tonne, down $0.33 per tonne Premium hard coking coal, cfr Jingtang: $124.80 per tonne, down $0.42 per tonneHard coking coal, fob DBCT: $93.83 per tonne, unchangedHard coking coal,...Read More

China's hot-rolled coil prices climbed to their highest in nearly six months on Thursday July 9 despite rising inventory levels, with the previous day's trading activity encouraging sellers to issue higher offers.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($551-553) per tonne, up 20 yuan per tonneShanghai's HRC market has shaken off all of the decreases resulting from the Covid-19 outbreak...Read More

China's domestic rebar prices continued to rise on Thursday July 9, albeit with less upward momentum due to high inventory levels in the market.Domestic Eastern China (Shanghai): 3,570-3,600 yuan ($509-513) per tonne, up by 10 yuan per tonneSpot market inventory levels totaled 8.17 million tonnes on Thursday, up by 200,000 tonnes from a week ago, according to a local industry information provider....Read More

The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More

The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Read More

Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc. Wednesday saw European equities pull back and those in the United States initially followed, but then US stocks ended Wednesday with ga...Read More

China's domestic and export prices for stainless steel increased over the past week amid a strong nickel market. The three-month nickel contract on the London Metal Exchange ended Wednesday July 8's official trading session at $13,465 per tonne, up by $845 per tonne from $12,620 per tonne on July 1. This is the highest price since January 23. DomesticStainless steel cold-rolled coil 2mm grade 304...Read More

While mining is best known for supplying the world with precious and base metals, technology metals - such as lithium, cobalt and transition metals - are needed for advanced applications, such as electric vehicle batteries, superalloys and within consumer electronics. Below, we provide an overview of eight juniors with exposure to these elements. Auxico ResourcesAuxico Resources (CNSX: AUAG) is a...Read More

Endeavour Silver (TSX: EDR; NYSE: EXK) took a significant hit to production in the three months to the end of June, as operations were halted for two months to comply with the Mexican government's efforts to halt the spread of the coronavirus.During the quarter, the Vancouver-based precious metal miner churned out 596,545 oz. silver and 5,817 gold oz., for silver equivalent production of 1.06 mill...Read More

A new multimillion-dollar agreement between Baffinland Iron Mines and the Qikiqtani Inuit Association (QIA) that includes a substantial royalty increase, Inuit oversight of environmental monitoring and direct community benefits may have set a new standard for Indigenous involvement in mining projects.The parties' Inuit Certainty Agreement (ICA) will see the QIA's royalties from Baffinland's Mary R...Read More

The total transaction value of mergers and acquisitions in the second quarter of the year reached US$2.86 billion in twelve deals, with Chinese buyers acquiring gold assets and smaller companies joining forces to become mid-tier producers, Bank of America Securities says in a new report.The investment bank notes that the 12 transactions represented the highest quarterly total since the fourth quar...Read More

Offers prices for Japanese scrap to the key Vietnam import market have increased after the results of the July Kanto Tetsugen auction were announced on the morning of Thursday July 9.The monthly auction concluded at an average of ?23,574 ($219) per tonne on an fas basis. The first winning bid was at ?23,600 per tonne fas for 12,000 tonnes of H2 scrap, while the second winning bid was at ?23,542...Read More

Haywood Securities has raised its gold price forecast for the second half of 2020 from US$1,650 per oz. to US$1,800 per ounce.Next year, the broker-dealer predicts gold will average US$1,700 per oz., up from its earlier forecast of US$1,600 per oz., while 2022 should see the precious metal average US$1,650 per oz., up from an earlier estimate of US$1,550 per ounce."We maintain our view that gold i...Read More