The report gives Magna Gold a base case operating plan for its San Francisco project, from which it can "drive ongoing optimization, growth and near-term value creation." Magna Gold Corp. (MGR:TSX.V; MGLQF:OTCQB) announced in a news release the details of the recently completed prefeasibility study on its flagship San Francisco gold project in Sonora, Mexico."We are extremely pleased with the out...Read More
Prices of steel billet imported to Southeast Asia have settled into a pattern of relative stability during the week to Monday September 21, market participants told Fastmarkets.Import billet prices climbed through early September with buyers facing a shortage of material after low purchase volumes in recent months, but weaker market sentiment in China and a drop in Asian scrap prices have limited...Read More
Bearish supply fundamentals and a high London Metal Exchange three-month price continue to spark debate in the nickel market, but while Citi maintains that the much-lauded electric vehicle (EV) metal is its least-preferred for medium-term investment, a quick turnaround in Chinese economic recovery is providing green shoots for physical demand, analyst Oliver Nugent told Fastmarkets. "We can't help...Read More
Portside prices for both low and high grades of manganese ore in China ticked downward in the week ended Friday September 18 after some ore traders lowered their offer prices to attract sales when the number of inquiries from domestic alloy smelters failed to meet expectations, market sources have told Fastmarkets.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China...Read More
Peter Krauth outlines the reasons he believes the price of silver will continue to rise. They say patience is a virtue.Well, if anyone is virtuous these days, it has to be silver bulls.They also say good things come to those who wait. I believe those good things will be coming…in spades.Silver reached just shy of $50 back in April 2011. A decade later, we're still just barely above half tha...Read More
The latest FOMC statement and economic projections signal are that the interest rates will stay at zero until the end of 2023. This is excellent for gold. Yesterday, the Fed issued a statement regarding the FOMC meeting, which was held from September 15-16. The US central bank kept the interest rates and the conditions of its quantitative easing unchanged. The chart below shows the levels of effec...Read More
At last, crudeoil moved a bit higher, so you might be asking yourself if the trend hasreversed or is this just a pause before the moves continue.In short, wethink the latter is much closer to the truth. The fact remains that in a global andhyperconnected economy such as today, no market can sustain completeindependence of the rest of the world. Crude oil, as the most versatilemarketplace commodity...Read More
Prices for carbon steel plate in the United States rose after ferrous scrap prices strengthened and JSW Steel USA idled its Texas plate mill, supporting other mills' increases. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US climbed to $27.50 per hundredweight ($550 per short ton) on Friday September 18 from $26 per cwt on Friday September 11. The asses...Read More
The Chinese steel engine that powered on for a good six months after the start of the Covid-19 pandemic is finally starting to lose steam, according to market sources.Booming domestic demand and equally strong local steel prices had been the savior of steelmakers everywhere in the second and most of the third quarter of 2020, which either indirectly improved sentiment in Asia or opened arbitrage w...Read More
Here are five Fastmarkets stories you might have missed on Monday September 21 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108...Read More
Base metals futures fell on the London Metal Exchange on Monday September 21, with the US markets reacting negatively to the forecast from that country's Federal Reserve bank (the Fed) that it will keep interest rates largely unchanged at low levels for the next three years.The price of zinc on the LME for delivery in three months' time closed at $2,458 per tonne at 5pm on Monday, down by 3.1% fro...Read More
Sentiment in the Northern European hot-rolled coil market remained upbeat on Monday September 21, driven by reduced output from domestic steelmakers and a lack of competitive import offers, sources told Fastmarkets.Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?484.95 ($574.10) per tonne on Monday, down by ?,?1.97 per tonne from ?,?486.92 per ton...Read More
Global alumina prices are expected to remain rangebound over the next quarter unless there are significant changes to the supply and demand picture, Noranda chief operating officer Thomas Robb said. Speaking at Fastmarkets' International Aluminium Conference on Monday September 21, Robb said: "It feels like the market is somewhat rangebound because of the supply and demand dynamics we're seeing ou...Read More
Here are five Fastmarkets stories you might have missed on Monday September 21 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108...Read More
The Chinese steel engine that powered on for a good six months after the start of the Covid-19 pandemic is finally starting to lose steam, according to market sources.Booming domestic demand and equally strong local steel prices had been the savior of steelmakers everywhere in the second and most of the third quarter of 2020, which either indirectly improved sentiment in Asia or opened arbitrage w...Read More
Base metals futures fell on the London Metal Exchange on Monday September 21, with the US markets reacting negatively to the forecast from that country's Federal Reserve bank (the Fed) that it will keep interest rates largely unchanged at low levels for the next three years.The price of zinc on the LME for delivery in three months' time closed at $2,458 per tonne at 5pm on Monday, down by 3.1% fro...Read More
Bearish supply fundamentals and a high London Metal Exchange three-month price continue to spark debate in the nickel market, but while Citi maintains that the much-lauded electric vehicle (EV) metal is its least-preferred for medium-term investment, a quick turnaround in Chinese economic recovery is providing green shoots for physical demand, analyst Oliver Nugent told Fastmarkets. "We can't help...Read More
If the U.S. Government comes out with a new stimulus plan, then we are going to see higher silver and gold prices. However, if there isn't a new bill... by Steve St Angelo of SRSrocco ReportIn my newest update, I explain that the silver price trend for the next quarter will depend on what happens over the next 7-10 days. If the U.S. Government comes out with a new stimulus plan, then we are g...Read More
The seaborne premium hard coking coal fob index jumped on Monday September 21 due to bullish sentiment in the market, with traders in China also being positive about the material's performance in the cfr market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $128.79 per tonne, up by $5.84 per tonnePremium hard coking coal, cfr Jingtang: $135.84 per tonne, up by $1.43 per tonneHard coking co...Read More
RAPAPORT... VicenzaOro staged the first major international jewelry trade fair since before Covid-19 amid strict safety measures, with buyers booking modest orders.Attendance was well below pre-pandemic levels due to the absence of participants from the Americas and Asia at the Italian show, which took place on September 12 to 14. However, the mood was upbeat, as visitors to both the physical...Read More