Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was "fully intact". The fact that a White House official said it was "over" only to retract that later suggests there have at least been discussion...Read More
Rupert Resources on a Roll at IkkariSPONSOREDCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe major's affiliate Rio Tinto Exploration Canada (RTEC) will use RAB drills to test copper showings, structural, geophysical, geochemical...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesA slump in economic activity in the wake of COVID-19 saw copper demand collapse, with prices plunging to a four-year low of $2.10/lb mid-March.However, BofA analysts said a spike in M1 and M2 money supply metrics indicated a recovery was on the way, with copper prices set to rise as a result.Artemis all set thanks to unique approac...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe PFS looked at converting the lower portion of the current sub-level cave to a series of block caves. The study was based on a probable ore reserve of 220Mt at 1.1% copper, 0.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesHudbay's move follows the US federal government filing its initial brief with the US Court of Appeals for the Ninth Circuit last week, with both calling for the Read More
ArcelorMittal has increased its offers for hot-rolled coil in Northern Europe to ?,?440 per tonne ex-works, market sources told Fastmarkets on Tuesday June 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?388 ($435.58) per tonne on Tuesday June 23, down by just ?,?2.11 per tonne from ?,?390.11 per tonne on June 22. The index was down by ?,?3.56 per tonne week...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company's British Virgin Islands subsidiary Skyland Mining will issue the bonds at 99.886% of face value, bearing interest at 2.8% per annum and maturing on June 23, 2023.The bonds are expected to be rated BBB- by Standard & Poor's.Artemis all set thanks to unique approachSPONSOREDartemis resourcesVancouver-based China Gold...Read More
European steelmakers have increased their official offer prices on hot-rolled coil in Northern Europe although trading activity remained low, sources told Fastmarkets on Tuesday June 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?388.00 ($435.58) per tonne on Tuesday, down by ?,?2.11 per tonne from ?,?390.11 per tonne on June 22.The index was down by ?,?3....Read More
Turkish long steel producer Izmir Demir ??elik (ID??) has started to work on plans to double its steel mill capacity, the company said to Turkey's Public Disclosure Platform (KAP) late on Monday June 22.At the company's recent board meeting held on June 22, IDC decided to start the technical project and other research works to increase its steel mill capacity from 1.4 million tonnes per year to 2....Read More
Flat-rolled steel sales volumes from Brazilian distributors recovered from April but still decreased by 22% year on year in May due to the effects of Covid-19 restrictions still apparent in the market, local distributor association Inda said on Tuesday June 23.Distributors sold 209,800 tonnes in May, down from 269,100 tonnes a year before, according to Inda. Volumes, however, increased when compar...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia remained firm over the past week in the expectation that the region will soon recover from the Covid-19 outbreak, sources told Fastmarkets on Tuesday June 23.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $460-470 per tonne cfr, while offers from India came in at around $450 per ton...Read More
Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was “fully intact”. The fact that a White House official said it was “over” only to retract that later suggests there have at l...Read More
Steel rebar and billet import prices in the United Arab Emirates have remained fairly stable over the past week, while domestic rebar prices have risen slightly, sources said on Tuesday June 23.Domestic rebarThe country's biggest producer, Emirates Steel, increased its rebar offers to 1,773 dirhams ($483) per tonne ex-works from June 16, up from 1,690 dirhams per tonne ex-works a week before.Follo...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 33 points in pre-opening trade. Apple gained $5.63 to $364.50 after Deutsche Bank and UBS raised their target price on the stock. Nike advanced $2.09 to $101.60 after Susquehanna raised its target price from $100 to $130.Lowe's added $$1.34 to $136.06 after Instinet raised its target price from $130 to $146.Peloton gai...Read More
Seaborne iron ore prices were mixed on Tuesday June 23, amid continuing concerns over the demand outlook for finished steel products. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.62 per tonne, down $1.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104.22 per tonne, up $0.03 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $91.28 per tonne, up $0.51 per...Read More
Seaborne premium hard coking coal prices went up on Tuesday June 23 after most market participants increased their estimates in the segment in accordance with recent transactions, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.93 per tonne, up $1.15 per tonne Premium hard coking coal, cfr Jingtang: $118.76 per tonne, up $1.40 per tonneHard coking coal, fob DBCT: $89....Read More
Fastmarkets is inviting feedback from the industry on its pricing methodology for its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 24, 2020, seeks to ensure that our methodology continue...Read More
China's hot-rolled coil prices weakened on Tuesday June 23 amid falling futures, while mills raised their export offers despite overseas buyers showing little interest in Chinese products.DomesticEastern China (Shanghai): 3,730-3,750 yuan ($527-530) per tonne, down 10-20 yuan per tonneSources told Fastmarkets that trading activity in China's domestic HRC market weakened during the day due to senti...Read More
China's domestic rebar prices dropped slight on Tuesday June 23 due to persistent rain affecting demand in many parts of the country.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($503-507) per tonne, down by 20 yuan per tonneWorking hours at construction sites have shortened due to the rainy season affecting many regions in China, which also has an effect on truck transportation.High temper...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