Indian domestic prices for secondary steel billet have gone up by 400 rupees ($5) per tonne week on week following rises in the costs of raw materials such as direct-reduced iron (DRI).The price of steel billet, domestic, exw India, was assessed by Fastmarkets on Friday October 9 at 29,700-29,900 rupees ($403-406) per tonne, compared with 29,300-29,500 rupees per tonne last week."Billet prices had...Read More
Tom MacNeill, CEO of Omineca Mining, and Chris Temple, editor and publisher of The National Investor, discuss Omineca's recently commenced maiden diamond drill program at the Wingdam gold project in the Cariboo Mining District, as well as upcoming catalysts and events.[NLINSERT] Disclosures:1. The following companies discussed in this broadcast have paid a fee to participate: Omineca Mining and Me...Read More
Riverside Resources CEO Dr. John Mark Staude and Senior Geologist Erika Sweeney talk with Maurice Jackson of Proven and Probable about recent exploration results at the company's Los Cuarentas project in Sonora. Maurice Jackson: Joining us for a conversation is the CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), Dr. John Mark Staude, along with senior geologist Erika Sweeney. Riverside...Read More
This zone is in addition to the Beyan Gold Zone discovery Troilus Gold announced at the end of September. Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) discovered another zone of mineralization, Goldfield, at its Troilus project in Quebec, the company announced in a news release. The zone is 28 km southwest of the recently announced Beyan Gold Zone discovery.Highlights of the Goldfield zone results i...Read More
‘A complete paradigm shift will make gold the generational trade’ As we turn the calendar to October, often a daunting month for financial markets, the same toxic mix that has bedeviled the global economy for most of 2020 remains in full force – the pandemic, the crippled economy, the money printing, and the disheveled politics. For its part, gold held up under the pressure of a...Read More
Brazilian iron ore producer Vale will enter into a 50:50 joint venture with China-based Ningbo Zhoushan Port Co to double capacity at the Shulanghu port in the eastern Chinese city of Zhoushan, 290 kilometers south of Shanghai, it said on Friday October 9. Capital expenditure for the project, called West III, is estimated at 4.3 billion yuan ($633 million) to install a stockyard and loading berths...Read More
In the five months between March and August this year, the price of silver increased from a fourteen-year low of $11.77 per ounce to a seven-year high of $29.26. That is a whopping gain of one hundred sixty-three percent.Meanwhile, gold’s price rose from its low of $1472 per ounce to a recent high of $2061. That represents a gain of forty percent, which is certainly a handsome number. N...Read More
Recent sentiment toward the yellow metal matched peak 2011 levels You may recall investor optimism that attended gold's then record high of $1921.50 in September 2011.A Gallup poll from that time period captured the prevailing sentiment. The Sept. 2, 2011 Elliott Wave Financial Forecast said a monthly publication which provides forecasts for major U.S. financial markets, said:Perhaps the stronges...Read More
Low inventory levels and longer lead times have pushed hot-rolled coil prices in the United States up to their highest in 17 months, with mills holding most of the negotiating power. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $32 per hundredweight ($640 per short ton) on Friday October 9, up by 1.3% from $31.58 per cwt on Thursday October 8 and 3.3% higher than $...Read More
Steel slab export prices from Brazil widened upward this week with the gap between sellers' and buyers' expectations continuing to increase because of higher offers.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $480-505 per tonne on Friday October 9, widening upward by $5 from $480-500 per tonne on October 2.Offers were heard within the range of $505-515 pe...Read More
The domestic price for steel rebar in Brazil has gone up in October, with an average 15% increase being fully applied and with some buyers willing to pay even higher prices for quick delivery, market participants have said.Fastmarkets assessed the price for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, at 3,220-3,430 Reais ($574-611) per tonne on Friday October 9, rising from...Read More
South American flat-rolled steel import prices showed no definite trend in the week ended Friday October 9 amid a stand-off between higher offers from China and Japan, and some discounted deals for products from the Commonwealth of Independent States (CIS) reported in Brazil.China returned from its national Golden Week holiday with more expensive offers for South America, in most cases. Other coun...Read More
The three-month price of zinc on the London Metal Exchange rallied at the close of trading on Friday October 9, with a steady decline in the US dollar index supporting a flurry of Asian buying, while a similar upsurge in aluminium saw the metal close at its highest price since July 2019.Nickel's outright price closed at $15,221 per tonne in the afternoon, climbing from an intraday low of $14,665 p...Read More
Deliverable zinc stocks in Shanghai Futures Exchange-registered warehouses increased the most in percentage terms by 3% or 1,423 tonnes to 49,370 tonnes in the week to Friday October 9.The main inflows came into the R&S Logistics warehouse in Shanghai - which received 1,134 tonnes to total 4,418 tonnes on October 9, up from 3,284 tonnes the week before - and the Kangyun Xiaoshan warehouse in Zheji...Read More
Seaborne iron ore prices were up on Friday October 9 after the return of active trading from Chinese market participants and post-holiday restocking activities, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $125.72 per tonne, up $2.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.79 per tonne, up $2.30 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116....Read More
Stimulus "negotiations" are ongoing in what Trump fans call an "art of the deal" kind of way, and Trump's beat The China Virus, so it's all good, right?Everyone thinks Trump is the Master of the Deal after calling off stimulus negotiations on Tuesday, only to call for an even bigger something-or-other just today.Notice, however, what was missing from Trump's "Negotiations" Tweet informing us that...Read More
Key data from the pricing sessions in Europe and the United States for the week ending Friday October 9, with China quiet due to the week-long Golden Week holiday. Europe The European market was steady over the week, consolidating gains from the week prior when prices tipped ?,?1,000 per tonne, a high last seen...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The US Midwest aluminium premium fell slightly on Friday October 9, after some traders revised offers down following a contraction on the London Metals Exchange's (LME) aluminium spreads and an uncertain market outlook.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 12-13.5 cents per lb on October 9, down 3.7% from 12.5-14 cents per lb where it had been steady for over a week....Read More
The United States Department of Commerce issued affirmative preliminary determinations in its anti-dumping duty investigations on common alloy aluminium sheet imports from 18 countries, following the department's affirmative countervailing duty determinations for four of those countries in August."The Department's aluminum sheet investigations constitute the broadest US trade enforcement action in...Read More