Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesHow mining companies can reduce equipment purchasing cost and improve qualitySPONSOREDtechnical auditNew World's first drilling at the project was headlined by 5.5m grading 2.5% copper...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesHow mining companies can reduce equipment purchasing cost and improve qualitySPONSOREDtechnical auditMarch quarter production was 91,911 tonnes of copper, down 24% quarter-on-quarter, a...Read More
India's ministry of shipping has revised its order that various shipping-related charges should be waived at all major ports where material is stranded, until the end of the lockdown period in the country, it announced earlier this week.The order, issued on Tuesday April 21, called for all penalty charges, demurrages, and detention and anchorage charges, among others, to be cancelled at all major...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesIn January, Rio earned 51% of the project after spending $11 million on exploration ahead of schedule. The company can move to 65% in the new three years by spending an additional $14 million.Read More
Base metals prices were mixed this morning, Friday April 24, after markets had to absorb weak flash purchasing managers’ index (PMI) data on Thursday, especially in the services sector where readings were 11.7 in the European Union and 27 in the United States, while manufacturing readings were also weak. Broader markets were for the most part weaker this morning with losses seen in Asian-Paci...Read More
The pig iron market in the United States remained inactive during the week to Friday April 24 due to low steel production rates and the resulting reduced need for pig iron.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $290-295 per tonne on Friday, up by $5 per tonne from $285-290 per tonne a week before."Our steel mills are operating at record-low ra...Read More
The price of containerized ferrous scrap imports into India inched lower this week while the market continues to grapple with the fallout of the lockdown period in the country, sources told Fastmarkets on Friday April 24.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $269.13 per tonne on Friday, down from $272.50 per tonne a week earlier.Since lockdown...Read More
The price of alloy steel scrap in the UK and Europe increased this week with tight supply outweighing low demand, Fastmarkets heard on Friday April 24.Both supply and demand in the stainless steel scrap markets have decreased substantially because of the Covid-19 pandemic and the measures taken to combat it.Initially, there were fears of a collapse in the downstream stainless steel market, which.....Read More
The inter-merchant spot price for light iron scrap in the UK has been stable over the past week amid quiet trading activity, while tracking a similar trend in European export markets to Turkey and the Indian subcontinent, sources said on Friday April 24.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, was ?50-60 ($62-74) per tonne on Ap...Read More
Turkish steel producers ended the week with no deep-sea bookings, amid weak finished steel demand and falling steel output due to the Covid-19 outbreak, sources said on Friday April 24.The short working week also kept the mills from making scrap purchases, according to sources.Thursday April 23 marked the National Sovereignty and Children's Day public holiday in Turkey and the country has imposed...Read More
Seaborne iron ore prices were mostly down on Friday April 24 with limited trading activity at Chinese ports. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.35 per tonne, down $0.11 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.09 per tonne, up $0.09 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $73 per tonne, down $0.14 per tonne. 65% Fe Brazil-o...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Index futures responded to news that the House of Representatives passed a bill to support workers during the coronavirus pandemic.Index futures were virtually unchanged following release of March Durable Goods Orders at 8:30 AM EDT. Consensus was a drop of 11.9% versus a gain of 1.2% in...Read More
China's domestic and export prices for rebar decreased on Friday April 24 along with the weaker demand. Domestic Eastern China (Shanghai): 3,420-3,450 yuan ($483-487) per tonne, down by 20 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,420-3,470 yuan per tonne, narrowing by 10-20 yuan per tonne week on weekRebar futures traded below Thursday's settlement price of 3,356 yuan per tonn...Read More
China's domestic hot-rolled coil prices fell on Friday April 24 despite futures gains, and participants believe the country could resume importing on lower offers from India and South Korea.DomesticEastern China (Shanghai): 3,280-3,300 yuan ($463-466) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, down 10 yuan per tonneSellers in Shanghai started with offers at 3...Read More
The London Metal Exchange three-month copper price declined during morning trading on Friday April 24, with price action consolidating lower amid slow turnover, while a marginal incline in zinc futures pushed it to close in on nearby resistance levels this morning. LME copper's underlying price was recently trading at $5,115 per tonne, a decline of some $45 per tonne from Thursday's closing price...Read More
Base metals prices were mixed this morning, Friday April 24, after markets had to absorb weak flash purchasing managers' index (PMI) data on Thursday, especially in the services sector where readings were 11.7 in the European Union and 27 in the United States, while manufacturing readings were also weak. Broader markets were for the most part weaker this morning with losses seen in Asian-Pacific a...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday April 24.China The UG2 chrome ore market rose for a third consecutive week after buyers were willing to accept higher prices, with a number of concluded deals above and below the new index level The increased chrome ore prices have underpinned domestic ferro-chrome...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ending Friday April 24.China The low-grade seaborne manganese ore market surged after the first offers were made since South Africa - the major producer - went into lockdown, with transactions made for late June and July delivery.High-grade ore prices soared...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
China will cut its new energy vehicle (NEV) subsidies progressively between 2020 and 2022, with a 10% reduction planned for this year, the country's ministry of finance announced on Thursday April 23.Compared with the 50% cut to subsidies in 2019, future reductions in principle will be done so at a slower rate of 10% in 2020, 20% in 2021 and 30% in 2022.This comes after Chinese Premier Li Keqiang...Read More