China's domestic rebar market was mixed on Wednesday April 15 amid fluctuating futures, with prices in the eastern region falling while those in the north picked up. Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, down by 40 yuan per tonneNorthern China (Beijing): 3,430-3,460 yuan per tonne, up by 20 yuan per tonne Spot prices in eastern China dropped after rebar futures fell...Read More
China's domestic hot-rolled coil prices fell on Wednesday April 15 with sentiment dampened by losses in the futures market, while exporters awaited opportunities to sell to overseas buyers after suppliers in other regions raised their offers.DomesticEastern China (Shanghai): 3,320-3,330 yuan ($471-472) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,220 yuan per tonne, narrowing d...Read More
The London Metal Exchange three-month aluminium price was the only metal to trade up from the previous day's close during the morning session on Wednesday April 15, with a 20,000-tonne fresh inflow of material failing to cap gains in its futures price. The LME three-month aluminium price was trading up a marginal $10 per tonne at $1,513.50 per tonne during morning trading from the $1,503.50-per-to...Read More
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An overview of the minor metals markets and the reasons for their latest price moves.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
South Korea's two largest steelmakers plan to slash their intake of import scrap over the coming months amid weak finished steel demand, market sources have told Fastmarkets.Major steel producer Posco will halt its buying of import and domestic ferrous scrap for the next two months, according to four sources dealing in the South Korea scrap market. While overall steel demand is struggling in South...Read More
A recent Supreme Court decision pertaining to Nevsun Resources could have big implications for other Canadian mining companies with foreign operations, opening them up to human rights claims stemming from their operations abroad.The lawsuit against Nevsun, Nevsun vs. Araya, alleges that the company was complicit in the use of forced labour by a sub-contractor at its Bisha copper-zinc mine in Eritr...Read More
Marathon Gold (TSX: MOZ) has released results of 16 diamond drill holes, which extend the strike length of the Berry zone to 350 metres. The drilling targeted both the Berry zone as well as the ground to the northeast, towards the area known as the Frozen Ear Pond Road.The drill highlights include 14 metres of 8.06 grams gold per tonne; 12 metres of 8.03 grams gold per tonne; and 24 metres of 2.44...Read More
Palladium One Mining (TSXV: PDM) has extended the Kaukua South zone anomaly at its flagship L??ntinen Koillismaa (LK) PGE-nickel-copper project in north-central Finland."Reconnaissance drilling carried out by previous owners of the property showed mineralization to be associated with the anomaly, and we have now extended it over four kilometres into a large area of overburden that has never been d...Read More
Troilus Gold (TSX: TLG; US-OTC: CHXMF) has released results from three drill holes completed at the Southwest zone within its 160-sq.-km Troilus gold project, northeast of Chibougamau, Quebec. The results appear to confirm a mineralized trend of over 1 kilometre.The drill highlights include 33 metres of 1.65 grams gold-equivalent per tonne, 13 metres of 1 gram gold-equivalent per tonne, and 9 metr...Read More
Bluejay Mining (LSE: JAY) has expanded its footprint in Greenland, after securing two new mineral exploration licences surrounding its existing Kangerluarsuk zinc-lead-silver project in the island territory's central west.The company can now conduct exploration activities across nearly 2,025 sq. km near the southern tip of Greenland. The project, to be named Thunderstone, is described as being "hi...Read More
Gold has tallied its fourth straight session gain, continuing its rally last week, which saw the price of the precious metal reach its highest in more than seven years.Gold's latest run has likely been spurred by cash injections to mitigate the severe impact of COVID-19 on the global economy, analysts say. Governments worldwide are signing off on massive stimulus measures on top of the near-zero r...Read More
The project will nearly double renewables production.Read full newsRead More
THE price of uranium has been on the increase in the past two weeks owing to the potential disruption to supply which is divided between a handful of major companies. "Demand for uranium is very distributed - there are 442 reactors across the globe - but the supply side is very, very concentrated," Andre Liebenberg, ...Read full newsRead More
The Canadian mining firm Excellon Resources announced recently that it is acquiring Otis Gold Corp., also of Canada, thus bolstering their risky scheme to use cyanide-based gold mining in theRead full newsRead More
Top TSX stocks have largely recovered almost half of the value that was lost amid the COVID-19 crash since February. However, this picture could turn gloomier with quarterly earnings and rising recession jitters.It is still an attractive opportunity for new investors, because many high-quality stocks are trading at bargain levels, and their long-term growth prospects look really good. I will cover...Read More
Oyu Tolgoi (Credit: Turquoise Hill Resources) Turquoise Hill Resources (NYSE: TRQ) reported on Thursday that Oyu Tolgoi mine Q1 gold production plunged 78% year-over-year to 26,154 ounces and that copper output slid 23%, to 35,203 metric tonnes.The Rio Tinto-controlled company that operates the mine in Mongolia reported that sales in January and February were impacted by curtailed operations in C...Read More
Barrick Gold introduces autonomous trucks at Nevada mines. Image from Komatsu Press Release Withthe coming age of Industry 4.0, it's no longer prudent, strategic oreconomically smart to wait until a critical mining asset has broken down to fixthe machine. Equipment breakdowns are often costly on many levels - downtimemeans productivity is affected, parts can be expensive and then there are thewas...Read More
China's EV industry runs rings around the US and Europe. Image: Nanpu Bridge, Shanghai. Nickel-cobalt-manganese cathode chemistries dominate global lithium ion electric vehicle battery production - though Tesla is doing its best to change that. The fact that the Democratic Republic of Congo is the source of more than two-thirds of global production and China's control of refining is north of 80%...Read More