Chinese hot-rolled coil sellers kept prices steady on Tuesday March 19 on robust domestic demand ahead of a decrease of the country's value-added tax.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, widening downward by 10 yuan per tonneNorthern China (Tianjin): 3,810-3,830 yuan per tonne, unchangedPrices were largely stable in both eastern and northern China, with buyers s...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's domestic rebar prices edged up further on Tuesday March 19 on steady end-user demand amid favorable weather. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($576-581) per tonne, narrowed upward by 20 yuan per tonne Northern China (Beijing): 3,850-3,890 yuan per tonne, narrowed upward by 10 yuan per tonneWarmer weather in both Shanghai and Beijing led contractors to raise their procure...Read More
A court in Brazil's southeastern Minas Gerais state has authorized miner Vale to resume operations at its Laranjeiras tailings dam, connected to the Brucutu iron ore mine, which has capacity for 30 million tonnes per year.The court in Belo Horizonte, which is the Minas Gerais state capital, also ordered the state's environmental agency, Semad, to comply with the decision that allows activities at...Read More
Iron ore prices corrected down on Tuesday March 19, with futures and spot market activity at Chinese ports both declining after Monday's gains.Tuesday also saw Fastmarkets' MB 62% Fe Iron Ore Index used for the first time as part of a basket of measures to price Pilbara Blend fines.MB 62% Fe Iron Ore Index: $87.23 per tonne cfr Qingdao, down $1.03 per tonne. MB 62% Fe Pilbara B...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. ...Read More
Prices for seaborne coking coal sold to China are showing signs of softening amid weak end-user demand, with uncertainties related to import restrictions at some ports complicating the market further."Buyers in southern China are discouraged from buying due to obstacles attributed to port authorities. It is a long and tedious process for end users to get their coal imports cleared by customs, and...Read More
Brazil's Vale has obtained a court order allowing it to restart port activities at its Gua?-ba Island Terminal, it said late on Monday March 18.The iron ore miner had suspended port activities at the terminal earlier this month on orders of the Mangaratiba city government."Following the court decision, Mangaratiba City Hall authorities lifted the interdiction. Vale reaffirms that it has all valid...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday March 19 *Copper -$160.10 (-1,077.97 yuan) Aluminium -$319.13 (-2,148.77yuan) Zinc-$142.06 (-956.54 yuan) Nickel -$217.59 (-1,465.08 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month...Read More
Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Tuesday March 19.The exceptions were lead and tin that were little changed, while the rest were up by an average of 0.5%. Copper prices were up by 0.4% at $6,462 per tonne, compared with $6,433 per tonne at Monday's close.Volume was average, with 6,236 lots traded on LME Select as at 6.51am...Read More
Nickel prices climbed 1.17% on the Shanghai Futures Exchange during morning trading on Tuesday March 19 amid a weaker US dollar and a rise in iron ore prices after a court ordered Brazilian mining company Vale to halt to production at its Timbopeba mine in Brazil. The most-traded May nickel contract on the SHFE stood at 101,230 yuan, up 1,170 yuan per tonne from Monday's close, tracking an increas...Read More
High-grade manganese ore producers returned to the market with higher offer prices in the week ended Friday March 15, while low grade prices held steady; In Europe, alloy prices rose on the news of load shedding in South Africa and the resultant pressure on production. 44% manganese ore price rose after producers raise offers.37% prices stable in balanced market.Indian silico-manganese prices ris...Read More
The expectation for higher tender prices for ferro-chrome in April supported the prices for ore in China and for alloy in Japan and South Korea, Fastmarkets heard on Monday March 18. UG2 and Turkish lumpy ore prices riseDomestic alloy price climbs in ChinaAlloy prices in Europe, Japan, South Korea increaseImported alloy prices stable in US, China. Prices for chrome ore imported into China and in C...Read More
The Young Mining Professionals (YMP) - a non-profit group with chapters in Vancouver, Toronto, Montreal, Sudbury, Perth, Brisbane, Johannesburg and London - held its third annual YMP Awards gala in Toronto in early March, with Mining Professional of the Year awards for 2018 handed out to Andr?(C)e St-Germain, chief financial officer of Integra Resources and Jos?(C) Vizquerra, executive vice-presid...Read More
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In recent weeks we noted the bullish outlook for the stock market.Friday the S&P 500 as well as ACWX (global equity ETF ex US stocks) closed above resistance and made higher highs.Not surprisingly, as US and global equities have avoided a bear market (for the time being), precious metals have weakened. It's not a surprise that as Gold failed to breakout both the S&P 500 and global equities...Read More
On March 16, Tesla Inc (NASDAQ:TSLA) took the internet by storm, revealing its long-anticipated Model Y, a fully-electric crossover with up to 300 miles of range. This model, of course, follows the Model 3, which quickly saw more than 250,000 pre-orders.If you watched the Tesla livestream during which Elon Musk unveiled the Model 3, you would have noted how the company views itself as the saviour...Read More
One of the first places investors turn when the market is looking uncertain is gold, and with prices of the yellow stuff set to rise in 2019, it seems as good a time to check out what's on offer as any. Let's see how some of the best Canadian metals and mining stocks are doing on their market fundamentals right now, as well as in a few other areas of pertinent data, such as outlook and balance sh...Read More
With more and more economists talking about the dreaded R-word — recession — along with the weakening housing market and record consumer indebtedness, investors are right to be concerned. But we should not use this as a reason to be scared of investing.Over the long term, we have seen time and time again that markets rise and that remaining invested is the right choice. But we need to...Read More