The Sao Miguel Paulista refinery is costing Jervois $22 million in staged payments between now and mid-2023, and has a stated production capacity of 25,000t of nickel and 2000t of cobalt.Read More
The formal consultation process for collective dismissal at Alcoa's San Cipri??n aluminium smelter in Spain has ended without an agreement with the workers' representatives, the producer said on Tuesday September 29.Alcoa now have up to 15 days to determine and announce a decision regarding the smelter's 228,000 metric tonnes of annual capacity. An agreement was previously reached with the workers...Read More
Bolivian zinc-lead producer Minera San Crist??bal has achieved full production after reopening from a 21-day outage in mid-September, the company's owner and operator, Sumitomo, confirmed late on Monday September 28."Minera San Crist??bal started mobilizing on September 14, [resumed operation of] the plant on September 16, and [was] at full production [by] September 18," a spokesperson for Sumitom...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 29 that are worth another look.Autumn-winter steel production restriction plans in northern China will start on October 1 and last until March 31, 2021, according to a draft plan on air pollution control released by the Ministry...Read More
Ford Motor Company of Canada will become the country's first manufacturer of all-electric vehicles, starting in 2024, the company said on Monday September 28.Ford will commit C$1.8 billion ($1.35 billion) to repurpose part of its biggest car plant in Canada, the Oakville Assembly Complex, and will introduce a new engine program at another plant, in Windsor. Both are in the Canadian province of Ont...Read More
Turkish steel producers continued to stay away from the deep-sea scrap market on the second working day of the week, in anticipation of a downturn in prices, sources told Fastmarkets on Tuesday September 29.A steel mill in northern Turkey broke the long-term silence by booking two Baltic Sea cargoes at $296 per tonne cfr late last week - the first trading activity since Se...Read More
Slight decreases in import prices for steel scrap in Turkey in recent days have stunned market participants in Asia who had expected a larger drop.Turkish mills had avoided purchasing steel scrap in bulk from the United States and Europe for over two weeks before returning to the market last week to buy two Baltic cargoes of heavy melting scrap 1&2 (80:20) at $296 per tonne cfr, down by just $5 pe...Read More
Base metals prices on the London Metal Exchange were mixed but little changed this morning, Tuesday September 29, while prices on the Shanghai Futures Exchange were firmer as they caught up with Monday's performance on the LME.Last week's pullbacks have run into dip-buying - hopes for further stimulus are buoying markets.US Congress making progress in talks regarding support measures.Markets might...Read More
Housing in the United States is about to launch in price and I have all the charts to prove it.To understand home real estate, you have to know that prices are driven by two things: interest rates and demographics.According to the Bank of England, we are experiencing the lowest interest rates in 5,000 years!That's a bit esoteric as we aren't building in Rome, but I recently saw a 15-year mortgage...Read More
Ford Motor Company of Canada will become the country's first manufacturer of all-electric vehicles, starting in 2024, the company said on Monday September 28.Ford will commit C$1.8 billion ($1.35 billion) to repurpose part of its biggest car plant in Canada, the Oakville Assembly Complex, and will introduce a new engine program at another plant, in Windsor. Both are in the Canadian province of Ont...Read More
Western Atlas Resources Inc. (TSXV: WA) is currently exploring its 100% owned, Meadowbank project, strategically positioned along trend and immediately adjacent to Agnico Eagle's Meadowbank and Amaruq producing gold mines in Nunavut, Canada. Western Atlas' Meadowbank Project is fully permitted for exploration, inclusive of drilling. We learned from Fabio Capponi, who is CEO and Director of Western...Read More
European buyers of hot-rolled coil have been holding back from making deals because they are unwilling to accept further price rises, sources told Fastmarkets on Tuesday September 29.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?488.86 ($569.53) per tonne on Tuesday September 29, up by ?,?2.07 per tonne from ?,?486.79 per tonne on Monday.The ind...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia have decreased over the past seven days with demand being weak, sources told Fastmarkets on Tuesday September 29.Most market participants believed that prices would remain stable or decrease further in the coming few days because of weakening Chinese demand and an upcoming holiday in the East Asian country.China will take a nati...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While steel markets in Asia have demonstrated the most strength with regards to pricing through much of 2020, recent weeks have seen prices in Europe and the United States outperform those elsewhere.In a way, much of this is simply catching up on the gains already made by Asian steelmakers. They were able to obtain higher pri...Read More
Autumn-winter steel production restriction plans in northern China will start on October 1 and last until March 31, 2021, according to a draft plan on air pollution control released by the Ministry of Ecology & Environment (MEE) late on Tuesday September 29. Steel mills in Beijing, Tianjin, Hebei, Shandong, Henan, Shanxi and Shaanxi will be affected by production restrictions aimed at improving ai...Read More
Prices in the Commonwealth of Independent States' (CIS) export long steel market declined in the week to Monday September 28 on low demand in the majority of end-market outlets as well as generally negative sentiment globally, sources said.In the second half of September, CIS mills tested the market with higher rebar and wire rod offers, referring to the reduced availability of material at some si...Read More
The price of steel rebar and billet imported to the United Arab Emirates fell this week on limited demand, sources said on Tuesday September 29.Domestic rebarSince September 15, the country's biggest producer, Emirates Steel, has been offering rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, while Conares Steel is offering rebar at 1,935.27 dirhams ($526....Read More
Turkish steel producers continued to stay away from the deep-sea scrap market on the second working day of the week, in anticipation of a downturn in prices, sources told Fastmarkets on Tuesday September 29.A steel mill in northern Turkey broke the long-term silence by booking two Baltic Sea cargoes at $296 per tonne cfr late last week - the first trading activity since Se...Read More
David Rosenberg - a legend on Wall Street and on Bay Street, economics guru.David Rosenberg is the chief economist & strategist of Rosenberg Research & Associates, an economic consulting firm he established in January 2020. He received both a Bachelor of Arts and Masters of Arts degree in economics from the University of Toronto. Prior to starting his firm, he was Gluskin Sheff's chief economist &...Read More
If you care about your health, and the role of science in shaping policy, this video is for you. First, let me re-re-state that I am *not* political. At all. This video is in support of science and is neither in support of or against any politician, bureaucrat, or political party. That said, Anthony Fauci's recent Senate testimony was a hot mess of anti-scientific statements and (willful? Ignorant...Read More