The Turkish deep-sea scrap import markets went quiet again after the strong rebound earlier in the week, with supplies tighter because of the Covid-19 pandemic, sources said on Wednesday April 8.Scrap import prices have gone up strongly amid reduced availability of material in the deep-sea market, caused by the closing of scrapyards to control the pandemic and the subsequent decreased collection v...Read More

Japanese scrap exporters have started to shun deals at the most recent transaction prices, they told Fastmarkets this week, with scrap collection activity slowing down and bulk scrap deals to Turkey being agreed at higher prices in recent days.The Japanese ferrous scrap market continued to fall over the past seven days, with Fastmarkets' price assessment for steel scrap H2, export, fob main port J...Read More

Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More

Early results are delineating untested mineralization hotspots at Group Ten Metals' Montana asset. In a news release, Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) provided an update on the collaborative geological modeling and target delineating it is currently doing for its Stillwater West platinum group elements-nickel-copper project in Montana.In these efforts, Vancouver-based Grou...Read More

X-Terra Resources has the funding to simultaneously explore two of its properties. X-Terra Resources Inc.'s (XTT:TSX; XTR:FSE) gold exploration properties are in Canada, the Grog and Northwest project in New Brunswick and Troilus East in Quebec. The company recently completed an inaugural, 1,904-meter drill program at the Grog and Northwest properties, where it has an option to earn a 70% interes...Read More

The technical update on the asset, which Wheaton Precious Metals owns a production stream on, is explored in a CIBC report. In a March 31 research note, CIBC analyst Cosmos Chiu reported that Wheaton Precious Metals Corp. (WPM:TSX; WPM:NYSE) released an updated technical report for the Salobo copper-gold project in Brazil. "The update reiterates the Salobo gold stream's position as Wheaton's corn...Read More

A Black Tusk Resources geologist summarizes the location, make-up and past exploration results of the asset. In a news release, Black Tusk Resources Inc.'s (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) Dr. Mattieu Piche, a company director and geologist, provided a geological overview of the McKenzie East gold project in Val d'Or, Quebec. Piche noted that Black Tusk's McKenzie East property flanks the easte...Read More

With the information, Granite Creek Copper plans to define and prioritize targets for its next exploration program there. Granite Creek Copper Ltd. (GCX:TSX.V) acquired and is processing airborne geophysical data for its Stu copper-gold project in the central Yukon, it announced in a news release. The Vancouver-based company plans to model the new information, which includes magnetic and radiomet...Read More

Iranian export prices for steel billet widened in the week to Wednesday April 8 following fresh sales.Despite the fact that the holiday period for the Iranian new year on March 20 was extended until April 11 to try to control the Covid-19 pandemic, steelmakers continued to operate and were still active in the...Read More

World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.This is the stark assessment by the World Trade Organization, which said global goods trade could contract by as much as 32% in 2020 under its worse-case scenario of suppression measures staying in place for the whole year and limite...Read More

The Dow finished the day up over 700 pointsThe Dow finished the day up over 700 points, continuing its rally after many investors reacted to news that U.S. Senator Bernie Sanders officially dropped out of thepresidential race. Though coronavirus still brings uncertainty reaching beyond the second quarter, the potential plateau of cases is sparking new optimism. The S&P 500 and Nasdaq also closed...Read More

The lockdown in South Africa has sparked a sharp rise in seaborne manganese ore prices in China, whereas the chrome ore market has lagged behind due to different end uses, slower portside price movements and high stocks. South Africa has been under a nationwide lockdown since Thursday March 26, implemented to prevent the spread of the Covid-19 virus. The country's metals and mining operations...Read More

Fastenal is expected to post its quarterly report early next weekThe shares of industrial and construction supply manufacturer Fastenal Company (NASDAQ:FAST) are attempting a comeback today, up 1.5% at $32.49, just ahead of the firm's first-quarter earnings report, due out next week on Tuesday, April 14. Meanwhile, J.P. Morgan Securities just downgraded FAST to "underweight" from "neutral", though...Read More

Analysts are very bullish on UnitedHealth stockUnitedHealth Group Inc (NYSE:UNH) announced last night that it will speed up payments and support totaling nearly $2 billion to health care providers in order to combat the financial challenges posed by the coronavirus pandemic. Additionally, UNH is just one of many health insurers getting a bump after Senator Bernie Sanders announced that he is pull...Read More

GOLD has broken out above a short-term trendline As gold prices continue to skyrocket, mining stock Barrick Gold Corp (NYSE:GOLD) has, to the same tune, broken out above a short-term trendline. GOLD now has a bevy of ascending moving averages in place acting as support, even as the shares' weekly moving averages - which had been in a nine-year downtrend - have turned upward. With these newfound cu...Read More

Pinterest's first-quarter guidance beat analysts' estimates Digital scrapbook platform Pinterest Inc (NYSE:PINS) is charging higher today after the company forecast $269 million to $272 million in revenue for its first-quarter, exceeding analysts expectations. The social media concern also predicted its monthly active users (MAUs) to exceed its fourth-quarter MAUs, though it pulled its 2020 guidan...Read More

LONDON, 11 March 2020 - Comment from BullionVault features today in a report on investing in gold from UK 'mid-market' tabloid the Daily Express.Reporting how one BullionVault user just used the company's smartphone app to buy almost ?1m of gold in a single trade, "Gold sales are rising as investors shun stock markets, higher-risk currencies and corporate bonds," says the newspaper on its website...Read More

The European Commission has imposed anti-dumping duties on imports of hot-rolled stainless steel products originating in China, Taiwan and Indonesia into the European Union, it announced on Tuesday April 7.The provisional duties relate to an investigation started on August 12, 2019, following the European Steel Association Eurofer's complaint lodged two months earlier.The investigation applies to,...Read More

Senator Bernie Sanders is dropping out of the 2020 presidential raceThe Dow Jones Industrial Average (DJI) is extending its gains at midday, currently up over 500 points, as investors react to news that Senator Bernie Sanders officially dropped out of the 2020 presidential race. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also experiencing rises, despite mixed messages regarding...Read More

LONDON, 10 March 2020 - Data and analysis from BullionVault features today in a report on the surging demand for gold from ThisIsMoney, the popular personal finance website from the Daily Mail group of newspapers.Commenting on BullionVault's dramatic growth in sales and trading volumes, "Used for little else besides storing value, gold has served that role in all cultures in all ages," says direct...Read More