Vancouver, British Columbia - April 14, 2020 - New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) ("New Pacific" or the "Company") is pleased to report the first independent National Instrument 43-101 ("NI 43-101") Mineral Resource estimate for its 100% owned Silver Sand Deposit, Bolivia. The study was completed by AMC Mining Consultants (Canada) Ltd. ("AMC"). The Company will host a webcast...Read More
Prices for steel rebar in Europe remained broadly stable over the past week, while trading in most markets remained slow, sources told Fastmarkets on Wednesday April 15.Last week, Italy extended its lockdown until May 3, leaving steel off the list of the "essential" industries allowed to continue operations.Nonetheless, some Italian steelmakers were still operating, having restarted...Read More
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A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 15.Please click...Read More
Industry association European Aluminium has launched a strategic plan to maximize Europe's aluminium recycling rates and keep the material in active use.According to the Brussels-based group, increased recycling rates can help Europe to reduce its dependency on imports and therefore its exposure to the risk of supply disruptions, which have been widespread across the metals and mining industry dur...Read More
The three-month tin price on the London Metal Exchange was the worst performer across afternoon trading on Wednesday April 15, dipping by just less than 2% and wiping out gains made earlier in the day, while aluminium futures held above nearby support despite continued inflows.Tin's outright price on the LME closed at $15,093 per tonne at the 5pm close, falling from an intraday high of $15,425 per...Read More
Most stainless steel scrap prices in the United States inched up slightly week on week while the supply chain continues to tighten due to lockdowns to limit the spread of the Covid-19 disease."Are we in a way worse scenario than 2008-something akin to the 1930s depression, or a blip that will be over and done in six months and we are back to something near normal?" one major processor asked.Scrap...Read More
Copper cathode premiums in Asia continued to rise in the week to Tuesday April 14, with the prospect of a VAT cut in China leading to an increase in imports, while broadly weak demand and positive forward spreads kept premiums steady in Europe and the US. Chinese market eyes VAT reduction margin in premium riseStagnant demand hinders European spot businessUnited States looks ahead with market...Read More
Global mining company BHP has stopped tendering spot market copper concentrates from its Escondida mine, informed sources have told Fastmarkets. Escondida in Chile, which produced 1.19 million tonnes of copper last year - around 5% of global supply - traditionally sells substantial volumes of concentrates on the spot market, with traders bidding against each other to win cargoes. But the company h...Read More
Global spot-market zinc premiums remained unchanged in Europe and the US in the week to Tuesday April 14 while the markets remain in the grip of uncertainty amid the Covid-19 pandemic.European zinc market participants positive over possibility of resumed trading activity later in April.US zinc sources are yet to see a significant demand hit, but some are bearish on the spot premium in the coming w...Read More
Aim-listed diamond producer BlueRock Diamonds, which owns the Kareevlei mine, in Kimberley, in the Northern Cape, says the two-week extension of South Africa's national lockdown to April 30 will not have a significant impact on its strategy.Executive chairperson Mike Houston says the lockdown extension did not come as a surprise and is consistent with what is happening around the world. A...Read More
Hot-rolled coil prices in the United States have remained below $25 per hundredweight due to uncertainty in the market and muted buying activity.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.92 per hundredweight ($498.40 per short ton) on Wednesday April 15, up by 0.6% from $24.78 per cwt on Tuesday April 14 and up by 2.2% from $24.38 per cwt a week earlier on.....Read More
Sales of steel slab by Russia's largest steelmaker, Novolipetsk Steel (NLMK), increased in January-March 2020 mainly on shipments to its Northen European joint venture - NLMK Belgium Holdings (NBH) - according to an operational report released by the company on Wednesday April 15.The company's slab sales came to 1.67 million tonnes in the first quarter of 2020, up by 11% compared with 1.497 millio...Read More
Italian flat steel re-rollers have resumed their operations after the stoppages requested by authorities to prevent the spread of the Covid-19 pandemic, market sources told Fastmarkets on Wednesday April 15.On March 21, the Italian government ordered the closure until April 3 of all non-essential production operations in the country, including steelmaking, as part of the measures to battle the pan...Read More
The price of mesh-quality steel wire rod in Europe was unchanged this week amid a quiet market, with buying being limited by the effects of the Covid-19 pandemic, sources told Fastmarkets on Wednesday April 15.This week in Northern Europe, trading was reported to be slow, with demand from end-users diminished by the quarantine measures that have been imposed.Fastmarkets' weekly price assessment fo...Read More
Prices for hollow steel sections in Europe were unchanged this week because trading activity failed to revive after the Easter weekend break, sources told Fastmarkets on Wednesday April 15.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-610 ($646-668) per tonne on Wednesday, unchanged week on week.Last week, it was reported that mil...Read More
Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click hereThe company is facing pressure from the government in Zambia over the closure of its majority-owned Mopani Copper Mines.Glencore said its 73.1%-owned Mopani had transitio...Read More
Metals and wider markets are mixed this morning, Wednesday April 15, while traders brace for more economic and corporate data that will start to show the economic hit that the global economy has suffered. Banks in the United States started to report dismal earnings and the International Monetary Fund (IMF) warned that the global economy faces the biggest slowdown since the Great Depression of the...Read More
The Turkish deep-sea scrap import market has gone quiet again after the recent upturn, with material supply being limited, while buyers were struggling with weak demand for finished steel, sources said on Wednesday April 15.The daily scrap indices went up by more than $15 per tonne on Tuesday, after deals for United States- and Baltic Sea-origin cargoes were heard at $255-257 per tonne cfr for HMS...Read More
Seaborne iron ore prices were largely steady on Wednesday April 15 amid robust port prices and expectations of improving margins for Chinese mills, and despite persistent supply jitters.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.86 per tonne, down by $0.16 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.48 per tonne, down by $0.26 per tonne.58% Fe fines high-grade premium, cfr...Read More