Portside prices for both low- and high-grade manganese ore in China rose in the week to Friday August 7, snapping a run of six consecutive weekly declines, after traders raised their offer prices in response to strength in the seaborne market.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was at 35 yuan ($5.02) per dry metric tonne unit (dmtu) on August 7 - eq...Read More
Ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o increased week on week because of continued improvement in demand.Many market participants reported average price increases of 200 pesos ($8.91) per tonne for most grades of scrap during the week ended Friday August 7, while other, less common price increases were reported in the range of 150-400 pesos ($6.68-17.82) pe...Read More
Domestic prices for ferrous scrap in Italy moved down slightly in the month to Tuesday August 11, with demand for the raw material reduced by scheduled maintenance outages during the month.Most Italian steel producers stopped production for summer maintenance work in August, but some have changed their schedules this year and planned shorter stoppages with demand recovering from the Covid-19-relat...Read More
THUNDER BAY - The Ontario government is providing $845,566 to help two companies in Thunder Bay develop new products and technologies that will support the health sciences sector and create skilled worker jobs. The funding will be delivered through the Northern Ontario Heritage Fund Corporation (NOHFC)."Supporting the health sciences sector across Northern Ontario is an important part of our gover...Read More
Turkish steel producers have slowed down their deep-sea scrap purchasing, after the domestic long steel market was affected by the weakening of the country's lira, sources said on Tuesday August 11.Mills in Turkey booked a number of cargoes last week, with the most recent transactions for material from the US and Baltic Sea at $285 per tonne cfr for HMS 1&2 (80:20).But the mills then paused their...Read More
Share this articleTORONTO - The chief executive of Barrick Gold Corp. said Monday the company's strategy for spending money is unchanged despite a run up in gold prices that boosted second-quarter results and prompted an increased dividend.Mark Bristow said he is actively guarding against temptation to change course."First of all, the way you do it, is you don't blow your brains out, like what hap...Read More
The dip in base metals prices at the end of last week was a one-day wonder for copper and aluminium after prices for both metals rebounded yesterday, while consolidation has set in again this morning, Tuesday August 11, and the other metals continue to consolidate too.Asian-Pacific equities and pre-market western equity index futures were upbeat this morning. But gold prices are down by 0.9% at $2...Read More
Lumina Gold Corp. (TSXV: LUM, OTCQX: LMGDF) is a precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project, the largest primary gold deposit in Ecuador. We learned from Scott Hicks, VP of Corporate Development and Communications of Lumina Gold, that they envision a 25 year mine life, with a large-scale open pit mine, producing about 80,000 tonnes per...Read More
On Monday and Tuesday we heard from two outstanding guests on Real Vision. Milton Berg, Founder and CIO of Milton Berg Advisors, joined Ed Harrison yesterday to highlight a series of bullish signals that are flashing for stocks. There is only one problem. The signals are late. That has led Berg to wonder if US stocks are now trading more like commodities than equities.On Tuesday, we had one my fa...Read More
Key data from the pricing session in London on Tuesday August 11.Key driversMetal prices moved higher with prices in the $14s no longer available for either alloy-grade or standard-grade metal. Lower bids went untapped and sellers successfully raised their offer prices against a backdrop of high raw materials...Read More
China's output and sales of new energy vehicles (NEVs) rose for the first time on an annual comparison this year in July, but figures were down slightly against June. China produced 100,000 NEVs in July, including pure electric vehicles (PEVs) and plug-in hybrids. This was an increase of 15.6% from July 2019, but a fall of 2.4% from June this year, according to data released by the China Associati...Read More
After a consultation period, Fastmarkets will amend the specifications of its hot-dipped galvanized steel import price assessment, cfr South America, with effect from Friday August 14.The consultation ran from July 14 to August 11 and laid out Fastmarkets' proposal to change the thickness specification in the price assessment for steel hot-dipped galvanized coil, import, cfr main ports South Ameri...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday August 11, due to the normal seasonal demand slowdown.But steelmakers insisted on higher offers, and deal prices were likely to rise in September, when market activity traditionally revives after the summer lull.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculate...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase over the past seven days, with demand better than last week, when market participants were just returning from the Eid al-Adha religious holiday, sources told Fastmarkets on Tuesday August 11.Some deals were heard for re-stocking purposes, and buyers said that more price increases were expected because of g...Read More
Following a consultation period, Fastmarkets will change the publication time of its Latin American steel price assessments to Friday, 2-3pm New York time, from 2-3pm London time, with effect from Friday August 14. The prices subject to the change are: MB-STE-0102 - Steel hot-rolled coil import, cfr main ports South America, $/tonne MB-STE-0133 - Steel hot-rolled coil (dry) export, fob m...Read More
Quinton Hennigh, CEO of NOVO Resources, sits down with Maurice Jackson of Proven and Probable to discuss how the company's latest acquisition puts it on the fast track to production. Maurice Jackson: Joining us for a conversation is the chairman and president of Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX), Dr. Quinton Hennigh. What a delight to have you back on the program today as Novo Resourc...Read More
StrikePoint Gold's focus with this work is on high-grade targets. In a news release, StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCMKTS) announced it commenced a minimum 2,000 meter diamond drill program at its Willoughby gold property in British Columbia's Golden Triangle. The work, to be carried out by Morecore Drilling, will test high grade targets as well as broad intervals of gold mineralizatio...Read More
Aben Resources is proceeding with pad building at its Forrest Kerr Project in northwestern British Columbia and expects its drill program to be fully operational within a week. Aben's Forrest Kerr Gold ProjectIn a news release, Aben Resources Ltd. (ABN:TSX.V; ABNAF:OTCQB) announced that "its 2020 field season is proceeding well and will be moving into the next phase which will include Pad buildin...Read More
Sector expert Michael Ballanger runs the numbers on current and future values of gold and silver given current economic conditions. Stuart Monk/Shutterstock.com"I'd rather be a gold bug then a paper worm." AnonymousIn late 2019, as I was laying out the framework for the 2020 GGMA Forecast Issue, there was only one four-letter word that kept cropping up and that word was D-E-B-T (actually there w...Read More
The prices paid for steel rebar and billet in the United Arab Emirates continued to increase this week, although buying was moderate, market sources said on Tuesday August 11.Domestic rebarThe country's rebar producers were still offering the product at 1,770-1,773 dirhams ($482-483) per tonne ex-works for August-production orders, Fastmarkets understandsLocal producers are due to announce new reb...Read More