The United States' ferrous scrap export market remained quiet ahead of the Thanksgiving holiday, although the expectation was that Turkey will be forced to pay higher prices once it returns to the US market. Turkey has been absent from the US market since Wednesday November 13, when it booked a US cargo containing 25,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap (HMS) at...Read More

Turkish steel mills have started booking deep-sea scrap for January shipment at higher prices, sources said on Wednesday November 27.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 5,000 tonnes of a mixture of HMS 1, and plate and structural scrap (P&S) at an average price of $262.50 per tonne cfr late on Tuesday...Read More

Physical iron ore prices generally weakened on Wednesday November 27 amid further losses in futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.56 per tonne, down $1.74 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.59 per tonne, down $1.74 per tonne.62% Fe low-alumina fines, cfr Qingdao: $87.03 per tonne, down $1.68 per tonne.58% Fe fines hi...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More

Seaborne coking coal prices moved up on Wednesday November 27, driven by buying activity from China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133 per tonne, up $0.30 per tonnePremium hard coking coal, cfr Jingtang: $147.49 per tonne, up $2.10 per tonneHard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $130.25 per tonne, unchang...Read More

Galena provides a leading lightSPONSOREDgalena miningThat gloomy view, in the latest copper-market analysis from Credit Suisse, is at odds with how some other banks and hedge funds see the outlook for copper which is the metal most directly plugged intoRead More

Sarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources The initiative, led by former mining union leader senator Napoleón Gomez, seeks to reform the federal work and social security law to ban outsourcing except for activities that expressly require a specialisation beyond the core activity of the contractor.Senator Gomez, who is openly critical of the pr...Read More

Galena provides a leading lightSPONSOREDgalena miningIt said the final set of results from summer exploration had extended the Sherlock corridor further to the west, while the Columbo zone to the east opened a new frontier for surface exploration inRead More

Sarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources The company's geological hypothesis is that it will encounter more mineralisation to the north of AntaKori in the area now permitted for drilling where there are various geophysical anomalies which it believes may represent mineralization related to a porphyry centre (the magnetic low) surrounded by an annul...Read More

Further positive signs of a phase one trade deal between the United States and China boosted sentiment across a broad selection of markets on Tuesday November 26, and that included most of the base metals, but so far today metal prices have generally been consolidating.US equity markets climbed to fresh highs on Tuesday after US President Donald Trump said the US and China are close to agreeing a...Read More

Further positive signs of a phase one trade deal between the United States and China boosted sentiment across a broad selection of markets on Tuesday November 26, and that included most of the base metals, but so far today metal prices have generally been consolidating.US equity markets climbed to fresh highs on Tuesday after US President Donald Trump said the US and China are close to agreeing a...Read More

Base metals prices on the Shanghai Futures Exchange were mostly down during the morning trading session on Wednesday on November 27, with only copper and zinc registering slight gains.The lackluster performance by the SHFE base metals this morning comes despite more positive news over an initial trade agreement between the United States and China.US President Donald Trump said on Tuesday that the...Read More

The premium for aluminium P1020A in Italy hit a three-year low in the week ended Tuesday November 26, while the premium in the United States continued to decline amid bearishness stemming from the persistent backwardation in London Metal Exchange forward price spreads.US Midwest premium down by 18.4% since JanuaryEuropean traders still watching LME spreadsMJP participants focused on Q1 negotiation...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Equity index futures moved slightly higher following release of economic news at 8:30 AM EST. Consensus for October Durable Goods Orders was a drop of 1.0% versus a decline of 1.2% in September. Actual was an increase of 0.6%. Excluding transportation orders, consensus for October Durable...Read More

Key data from the Wednesday November 27 pricing session in Shanghai. Key drivers  The Chinese cobalt sulfate price broke the eight-week downward streak, holding on fresh restocking appetite and producer reluctance to sell at lower levels amid strength in the metal's futures market. The cobalt metal contract price on the Wuxi Stainless Steel Exchange rose by nearly 1% on Wednesday after b...Read More

Miner-trader Glencore suspended operations at its Mutanda copper-cobalt mine in the Democratic Republic of Congo (DRC) early this week - a month earlier than previously expected.The premature suspension is said to be due to a shortage of sulphuric acid, a key component used in copper and cobalt extraction, market sources told Fastmarkets.Glencore had not responded to requests for comment at the ti...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday November 27. Key drivers The alloy and scrap markets were unchanged in the past week, with suppliers holding their offer prices in expectation of potential price increases on renewed demand for 2020 deliveries. The alloy price range held for a third consecutive week on muted trading since Fastmarkets' International Ferro-a...Read More

In November, Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) reported that a lawsuit previously lodged by a Mongolian non-governmental organization (NGO) group was apparently upheld by the country's Administrative Court.The challenge, brought by NGO group Darkhan Mongol Nogoon Negdel, alleges due process was not properly followed in 2015 when the Government of Mongolia finalized the Oyu Tolgoi unde...Read More

Sun Metals (TSXV: SUNM) has completed the final tranche of a $6.2-million bought-deal financing that will help it advance exploration at its wholly owned Stardust project, 250 km northwest of Prince George in British Columbia.Steve Robertson, the company's president and CEO, says the equity financing will help the company advance exploration of the 421 zone - an area of extensive skarn alteration...Read More

Vancouver-based Tinka Resources (TSXV: TK; US-OTC: TKRFF) has intersected several zones of high-grade zinc mineralization in the final hole of this year's drill program at its wholly owned Ayawilca zinc project, 200 km northeast of Lima in the Pasco region of Peru.Drill hole A19-168, an infill hole at South Ayawilca, returned an intercept of one metre grading 46.5% zinc from 125 metres, 26 metres...Read More