The Brisbane-based company is seeking to raise at least A$5 million and up to $7.5 million via the issue of 25c shares.Shaw and Partners is lead manager to the offer.The offer is scheduled to close on November 29, which would see Macarthur list on the ASX before the end of 2019.In connection with the offer, shareholders in Brisbane today approved a one-for-four share consolidation.Macarthur tried...Read More

The UG2 chrome ore index slid again in China after poor demand prompted suppliers to lower their offers in the week to Friday November 1, while falling ferro-chrome supply in Europe helped the regional high-carbon market edge up by 0.6%. Suppliers cut offers for chrome ore amid weak demand  Chinese spot alloy prices flat in thin trading  Alloy supply tightens in Europe  US price ma...Read More

On IGO's numbers, the implied offer price is A47.6c per Panoramic share.Read More

Fluor shares (FLR) were up 15% in New York, having shed nearly 43% of their value in the year to date. The company is current capitalised at about $2.6 billion, 30% of what it was worth early last year."Although the company has suspended guidance for 2019, we anticipate margins for the fourth quarter to be 4-5% for Energy & Chemicals, approximately 2% for Mining & Industrial, approximately...Read More

Key data from the pricing sessions in Asia and Europe in the week to Friday November 1. China Key drivers  The price of antimony, MMTA standard grade II, ddp China was unchanged for the second consecutive week due to sparse trading activity.  Many domestic antimony suppliers held offer prices firm despite thin buying interest, citing the limited availability of ore, while a few were...Read More

"Revenue from the system could begin before the end of 2019," the broker said.Read More

RambusI've been holding off on writing this Weekend Report for the US stock markets until I got just a little more confirmation that the next impulse move higher is underway. Last weeks price action is strongly suggesting that the nearly 2 year consolidation phase is drawing to a close. Lets say I'm seeing some green shoots sprouting up in many different areas of the markets.Most investors rely...Read More

What are we to make of Wall Street's exuberance on Friday over news concerning a U.S. economic expansion that refuses to die? Employers are hiring, consumers are spending and business is humming despite a dramatic economic slowdown in Asia, Europe, South America and elsewhere. Perhaps America really is an economic island, one blessed with unstinting support from a central bank that has finally s...Read More

South African manganese miner Tshipi recorded a 28% year-on-year drop in net profit in the six months to August 31 due to lower manganese ore prices, owner Jupiter Mines announced on Thursday October 31.Tshipi's net profit for the period - its financial first half of 2020 - was 1.51 billion rand ($101 million), down from 2.09 billion rand in its financial first half of 2019. The miner achieve...Read More

Turkish steel mills returned to the deep-sea markets on Monday November 4, booking several cargoes from different origins and pushing prices up further, sources told Fastmarkets.The three newly booked cargoes end a week-long quiet period since the previous booking, all with a very similar composition and pricing. Two of the cargoes were of US origin. The first, booked by a steel mill in...Read More

Turkish domestic auto bundle scrap prices have increased again over the past week, in line with rises in imported scrap values, sources said on Monday November 4.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,400-1,555 ($243-269) per tonne on Monday, narrowing upward from TRY1,385-1,555 per tonne last week.Four steel mills have raised...Read More

AS Mauskar and N Bhavsar of Bank Muscat led the base metals leaderboard again in the Apex third-quarter 2019 contest, with an accuracy rating of 96.9%, while UBS' Glyn Lawcock was top of the precious metals table with a rating of 97.6%. For steel raw materials, Fastmarkets was at the top of the leaderboard at 90.6% accuracy. Click on the image below to download the full report. Second on the base...Read More

The nickel market must switch its focus to class-one nickel production if it is to meet projected battery demand, analysts said during London Metal Exchange Week 2019. Analysts are concerned that traditional production focus on stainless steel may prevent adequate supply of battery-preferential nickel coming online even though this sector will eventually eclipse stainless steel demand. "The exciti...Read More

Export prices for hot-rolled and cold-rolled coil from the Commonwealth of Independent States stabilized during the week ended Monday November 4, although demand was too weak to support mills' attempts to increase prices.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $360-375 per tonne on November 4, unchanged week on week.Offers of Russia-origin HRC were heard at $38...Read More

Palladium is breaking all the records.The price of palladium has increased over 250% in the past 24 months and is now sitting at an all-time high at just over $1,800 an ounce - almost twice the price of its sister metal platinum.But before you jump in on the momentum, there are several things you should know.Palladium is a metal we've talked about a million times here in Energy and Capital. Due to...Read More

AM Investco, the consortium led by ArcelorMittal that was put together to purchase Italian steelmaker Ilva, is pulling out of the deal, ArcelorMittal said on Monday November 4.The consortium has sent a notice to the Ilva commissioners indicating that it intends to withdraw from the agreement for the lease and subsequent conditional purchase of the Ilva business and certain subsidiaries.ArcelorMitt...Read More

China's domestic hot-rolled coil prices picked up some strength on Monday November 4 on robust trading activity after a stagnant week, though exporters appeared more willing to make concessions amid a pessimistic outlook for demand.DomesticEastern China (Shanghai): 3,510-3,520 yuan ($499-500) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,510 yuan per tonne, up 10 yua...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN broke above its wall-like 1100 resistance once the US Federal Reserve slashed interest rates and all but ruled out the possibility of any hikes. The Index whipped 19.76 points higher to 1121.06 for a gain of 1.8% on the week and reached its highest point in the last month.MACD...Read More

CIS export wire rod prices have softened at the beginning of November on limited demand in the major sales outlets, according to market sources.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS, was $420-430 per tonne on Monday November 4, down by $10 on the lower end.Recent offers for Russian wire rod were heard at $430 per tonne fob last week. No...Read More

With competition in the global steel markets still fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in October 2019.The case list below includes only updates. For other continuing cases,...Read More