Backlogged silicon buyers are only now taking metal they should have received many months ago, if not last year, under their annual contracts, multiple sources told Fastmarkets in the week to Friday June 5.The gradual resumption of automotive manufacturing since mid-May has helped to kick-start the sluggish market for grade 5-5-3 silicon, much of which goes into vehicles as secondary aluminium all...Read More
Australia has signed a preliminary deal to supply minerals such as lithium and zircon to India's new energy sector.Australia's resources minister has announced a plan to supply India with critical minerals, one of a number of deals done with trade partners. The agreement, announced on June 4, is preliminary and does not contain specific measures on the volume of shipments to be made between the tw...Read More
An overview of the minor metals markets and the reasons for their latest price moves.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.Fastmarkets...Read More
Polyus PJSC, Russia's largest gold mine and main antimony ore supplier, reported an absence of sales of antimony-rich flotation concentrate during the first quarter of 2020, it said in its financial results.The company confirmed to Fastmarkets that it made no sales of antimony over the first quarter of 2020, while comparatively sales of antimony in-flotation concentrate during the same period in 2...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
European monthly stainless steel alloy surcharges have increased significantly for June but there has been no corresponding increase in transaction prices following their fall at the end of May, Fastmarkets heard on Friday June 5.Fastmarkets' calculation for June of the stainless steel cold-rolled sheet, 2mm grade 304, alloy surcharge domestic, Europe, was ?,?1,329-1,363 ($1,497-1,535) per tonne,...Read More
Strong spot demand for ferrous scrap in Vietnam has continued to boost prices in the week to Friday June 5, with a flurry of purchases at higher prices.Bids for bulk cargoes of Japanese H2 scrap were at $260 per tonne cfr southern Vietnam this week. Offers were at $263-268 per tonne cfr southern Vietnam at the start of the week, but increased to $265 per tonne cfr by Friday. There was not much int...Read More
Papua New Guinea (PNG) has threatened Barrick Gold (TSX: ABX; NYSE: GOLD) with criminal proceedings, claiming the company's joint venture in the country was planning to illegally export US$13 million in silver and gold to Australia.The country's mining regulator said that Barrick Niugini Limited (BNL) asked earlier this week for clearance to ship precious metals to the Perth Mint.The move, the Min...Read More
Gold-backed ETFs added 154 tonnes for net inflows of US$8.5 billion across all regions in May, boosting global holdings to a new all-time high of 3,510 tonnes, according to new data from the World Gold Council.Year-to-date, inflows of 623 tonnes, representing a value of US$33.7 billion, now exceed what was initially the highest level of annual inflows of 591 tonnes in 2009.During May, North Americ...Read More
Copper advanced to a 12-week high on June 4 as China's US$700 billion stimulus program focussed on so-called "new infrastructure" and "new urbanization" kicked into gear.Copper trading in New York jumped to US$2.5025 a pound (US$5,515 a tonne) in midday trading, bringing the bellwether metal's gains since its mid-March low to just under 27%.BMO Capital Markets pointed out in a research note that d...Read More
Pure Gold Mining (TSXV: PGM; LSE: PUR) is starting a 30,000-metre underground and surface diamond drill program at its wholly owned PureGold Red Lake mine. The program will be focused on near-term mine plan optimization, resource growth and target new high-grade discoveries.Pure Gold expects to pour first gold at the mine before the end of this year."We believe strongly in the organic growth poten...Read More
Golden Lake Exploration (GLM.C) is a fairly new entry in the junior exploration arena. It began trading last summer withRead full newsRead More
Pure Gold's mine in Red Lake is on track for its first pour this year.Read full newsRead More
Like much of the world, Argentina remains locked down, its citizens more or less homebound due to the global COVID-19 pandemic. Amid the torpor, Yamana Gold, a Canada-based mining company, has forged a new partnership around a gold mining project in the Patagonian province of Chubut. The move has led activists to accuse Yamana of [...]Read full newsRead More
You would think that anyone in the gold industry would be getting rich right now, but informal miners in many countries are missing out.Read full newsRead More
Current news releases distributed by Cision in Canada including multimedia press releases, investor relations and disclosure, and company news.Read full newsRead More
The most recent U.S. jobs report, which he believes is bound for revision, has Michael Ballanger musing on how economic policies are reflected or distorted in the precious metals markets. I was sitting in my den looking out over the swamp er lake tonight when it appeared as though something was flailing around near the shoreline. So I threw on my deck shoes and went for a stroll down to the water...Read More
Vehicle production increased in Latin America during May, when compared with the all-time lows reported in April, but continued to represent a sharp year-on-year decrease while most plants remained closed or are just starting to reopen following Covid-related halts.Mexico, Brazil and Argentina are the region's top auto producing countries, Fastmarkets understands.MexicoMexican light vehicle output...Read More
European distributors of flat steel products reported a 50.8% year-on-year drop in shipment volumes in April, Eurometal said on Thursday June 4.In first four months of 2020, shipments of flat steel products by European steel service centers decreased by 18.5% year on year. Eurometal does not disclose product volumes.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe ...Read More