The Turkish steel producers have continued their deep-sea scrap purchases because they managed to agree lower prices, sources said on Friday March 13.A steel producer in the Izmir region booked a US cargo, comprising 14,000 tonnes of HMS 1&2 (80:20) at $275 per tonne, 16,000 tonnes of shredded at $280 per tonne and 2,000 tonnes of bonus at $285 per tonne cfr late...Read More

The main coking coal exports hub of Dalrymple Bay Coal Terminal (DBCT) in Queensland, Australia, declared force majeure after vessel loading operations were suspended earlier this week, market sources told Fastmarkets on Friday March 13.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.13 per tonne, up $2.57 per tonnePremium hard coking coal, cfr Jingtang: $166.68 per tonne, up $1.82 per...Read More

Seaborne iron ore prices moved higher on Friday March 13 as portside iron ore stocks fell, steel and steelmaking raw materials futures rose, China's central bank provided another boost to the economy and global equities market found a footing following a rout earlier this week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.71 per tonne, up $0.96 per tonne. 62% Fe low-alumina fines, cfr...Read More

Copper recorded the largest percentage increase in stocks in Shanghai Futures Exchange-approved warehouses in the week ending Friday March 13, with inventories soaring by 10% week on week. Copper stocks rose for about the fifth consecutive week, with total inventories at 380,005 tonnes, up from 345,126 tonnes last week. China Reserve Shanghai Dachang Branch warehouse in Shanghai recorded the large...Read More

The Dow Jones Industrial Average Index (DJIA) closed down by 10% on Thursday March 12, taking the loss from the February high to 28.3%, while the London Metal Exchange three-month base metals at their recent lows have been down by an average of 16% - ranged between 10.4% for aluminium and 22.2% for zinc.DJIA futures were up by 1.6% in pre-market trading at 6.45am on Friday morning, although most A...Read More

The Chinese alumina price edged downward for the first time in four weeks on Thursday March 12, following further declines in aluminium futures over the past week.Fastmarkets' weekly price assessment for alumina metallurgical grade, ddp China slipped to 2,470-2,570 yuan ($353-367) per tonne on Thursday, down by 50-70 yuan per tonne from 2,540-2,620 yuan per tonne a week earlier.The latest drop fol...Read More

Base metals prices on the Shanghai Futures Exchange were down across the board at the close of morning trading on Friday March 13, with the complex tracking pronounced weakness in broader markets overnight and this morning. Heightened fear among investors that the novel coronavirus (2019-nCOV) outbreak will wipe out economic growth led to further steep losses in the US stock market overnight, with...Read More

The Dow Jones Industrial Average Index (DJIA) closed down by 10% on Thursday March 12, taking the loss from the February high to 28.3%, while the London Metal Exchange three-month base metals at their recent lows have been down by an average of 16% - ranged between 10.4% for aluminium and 22.2% for zinc.DJIA futures were up by 1.6% in pre-market trading at 6.45am on Friday morning, although most A...Read More

An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 126 point limit in pre-opening trade. Investors are anticipating launch of a fiscal stimulus program by the U.S. Congress.Apple advanced $19.47 to $267.70 after Wells Fargo upgraded the stock from Equal Weight to Overweight. Adobe jumped $19.79 to $304.79 after JP Morgan upgraded the stock from Neutral to Overweight. G...Read More

The price of stainless steel in the domestic European market was unchanged in the week ended Friday March 13 amid stable market conditions, but participants were bracing for a substantial downturn driven by the measures to contain the outbreak of 2019-nCoV coronavirus, sources have told Fastmarkets."So far... demand is unchanged, but a decrease might come," a Scandinavian distributor said. "Can we...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 13.China Spot domestic Chinese ferro-chrome prices have dropped after leading mill Tsingshan Group lowered its March tender price by 2.6%.The lower tender and...Read More

The Bureau of International Recycling (BIR) has postponed its conference scheduled to be held in Istanbul in May due to concerns over the spread of the 2019-nCoV coronavirus, the organisation said on Friday March 13.The three-day convention will now be held on October 12-14 in Istanbul. The orginal dates were May 18-20.The conference is a popular event...Read More

The world needs to limit global temperature increases to between 1.5 and 2 degrees Celsius by the end of this century to avoid devastating climate change, according to the Intergovernmental Panel on Climate Change, a United Nations body that provides policymakers with scientific information about climate change.Atmospheric concentrations of CO2 are now well over 400 parts per million and global em...Read More

Last year, Wesdome Gold Mines (TSX: WDO) increased production at its Eagle River complex in northern Ontario by 28% to 91,688 oz. gold while decreasing cash costs by 9% to US$621 per ounce.The company also increased reserves at Eagle River by 36% while boosting reserve grades 20%. The latest reserve number for the operation is 1.2 million tonnes grading 14.4 grams gold per tonne for 550,000 oz. go...Read More

Neo Lithium (TSXV: NLC) has produced battery grade lithium carbonate at its pilot plant in Fiambal?? using concentrated brine from its wholly owned Tres Quebradas lithium project in Argentina.The junior said the brine was extracted from the high-grade zone located in the northern area of Tres Quebradas and then evaporated at the company's industrial-scale ponds at the same location.No chemical rea...Read More

China's central bank cut the cash that banks must hold as reserves on Frida...Read full newsRead More

Brown University sold 90% of its investments in companies that extract fossil fuels and promises more climate change action.Read full newsRead More

"@KimbleCharting @TheArmenianDad So that's what a 25% total correction looks like on a log chart ? Hmmmmm. I see it's channel value,but I hope Trump doesn't see it ---- cuz you can be sure he'll retweet it until the correction ends."Read full newsRead More

President Donald Trump holds a news conference on the coronavirus pandemic which is spreading across the United States. The president is expected to declare ...Read full newsRead More