China's ferrous futures largely rose during morning trading on Wednesday January 9, with only the iron ore contract dipping slightly.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,541 yuan ($516.50) per tonne, up 30 yuan per tonneMay hot-rolled coil: 3,442 yuan per tonne, up 24 yuan per tonneDalian Commodity Exchange May iron ore: 514.50 yuan per tonne, down 0.50 y...Read More
Base metals on the London Metal Exchange were higher across the board during morning trading on Wednesday January 9, following positive sentiment in Asian markets while US-China trade talks and a continued softening of the US dollar index support upward price action. Copper's three-month price was the best performer over the morning session, climbing 1.3% and reaching an intraday high of $6,007.50...Read More
The chairs of seven committees in the House of Representatives requested that the US Treasury Department delay the termination of sanctions against UC Rusal.In a letter written to Secretary of the Treasury Steven Mnuchin on Tuesday January 8, the Chairs said there are a number of additional questions to be answered surrounding the sanctions being removed and requested a meeting to discuss the issu...Read More
China's hot-rolled coil market was largely stable on Wednesday January 9 amid robust downstream demand, with some companies starting to restock ahead of the Chinese New Year in early February.DomesticEastern China (Shanghai): 3,660-3,670 yuan ($534-535) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,620-3,630 yuan per tonne, narrowing downward by 20 yuan per tonnePri...Read More
China's domestic rebar prices dropped slightly on Wednesday January 9 on softening winter demand.Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($543-548) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,640-3,680 yuan per tonne, widened down 10 yuan per tonneRebar traders cut prices slightly amid continued weakness in demand even though both billet and futures prices tick...Read More
Key data from the Wednesday January 9 pricing session in Europe.Key driversThe market has been quiet during the first week of the calendar year, with only a small drop in ferro-titanium prices, while the price of scrap was stable. Liquidity is expected to increase throughout January.Around 110 tonnes was reported traded between $4.30 per kg and...Read More
The following Fastmarkets minor metals prices changed on Wednesday January 9:Minor metalsCobalt MB free market alloy grade, $/lb: $24.50-26.25 per lb from $25.50-27.25Cobalt MB free market standard grade, $/lb: $24.75-26.25 per lb from $25.75-27.25Cobalt MB China domestic, yuan/tonne: 335,000-355,000 yuan per tonne...Read More
Fastmarkets will launch two new manganese ore China port indices on a free-on-truck (fot) basis on Friday January 11.The new indices will be based on ores with manganese ore content of 37% and 44%, respectively.Based on market feedback after a one-month consultation period, Fastmarkets will launch the new indices to better reflect conditions in the Chinese market. China is the world's biggest buye...Read More
Three-month base metals prices on the London Metal Exchange were stronger across the board by an average of 0.6% this morning, Wednesday January 9.Tin led the way with a 1% gain and is back over $20,000 per tonne and has an impressive double bottom in place on the chart, with lows in August and November. Lead, zinc and aluminium were all up by around 0.8%, copper was up by 0.4% at $5,959 per tonne...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 9:Aluminium scrapGroup 1 pure 99% &...Read More
The Shanghai copper premium rose from its lowest in more than a year because of a narrowing negative import arbitrage for bringing units into China that made buying more attractive.The nearby LME forward curve switched to a solid contango as well, firming up sellers' positions globally. Shanghai cif premium rises by $3 per tonne from last Monday; bonded warehouse premium up by $5 LME cash/three-mo...Read More
Silvercrest Metals (TSXV: SIL; NYSE: SILV) continues cutting high grade mineralization at its Las Chispas silver property in Sonora, Mexico.The latest results from a phase three infill drill program at the property included 9.3 metres grading 39.66 grams gold and 3,361 grams silver, or 6,336 grams silver equivalent, from 194 metres downhole and 2.4 metres at 4.3 grams gold and 1,571.5 grams silver...Read More
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Silver has rallied in recent weeks following gold higher after a poor performance during the second half of 2018. While the white metal has firmed to see it down by only 8% over the last year, many silver miners have yet to rally. One that's has been heavily marked down by the market because of silver's 2018 price collapse and its own internal problems is Great Panther Silver Ltd. (TSX:GPR)(NYSEMK...Read More
Being a commodity producer is tough. Many savvy investors contend that over the long term, very few if any actually make an economic profit. Sure, there's money to be made, but time and time again, investors have been fleeced while management teams have lined their pockets.The story is almost always the same for miners. Regulatory uncertainties and massive investment costs constantly throw wrenche...Read More
Westhaven Ventures, a British Columbia gold explorer that had a good year with the drill bit in 2018, topped the table of Canadian-listed mining equities with its standout 733% share price gain for the year.It was the best of a long list of juniors (sub-US$100 million market cap) that made up more than 70% of this top-100 compilation.Leaders among the bigger, mid-tier companies included Brazil van...Read More
Drilling for lithium brine at Pure Energy's Clayton Valley property, Nevada. Photo courtesy GeoXplor Corp.Pure Energy Minerals Ltd. [PE-TSXV; PEMIF-OTCQB] said Thursday January 10 that it has received a water right to extract lithium-bearing brine needed for the operation of a planned pilot plant at its flagship Clayton Valley project in Nevada.Pure Energy shares jumped 34.78% or $0.04 to 15.5 cen...Read More
The 127-carat diamond recovered from Lucara's Karowe Mine in Botswana. Source: Lucara Diamond Corp.Lucara Diamond Corp. [LUC-TSX, LUCRF-OTC] said Thursday January 10 that it has recovered a 127-carat top-white gem diamond from its 100%-owned Karowe diamond mine in Botswana.Since mining began at Karowe in 2012, a total of 129 diamonds in excess of 100 carats have been recovered, 33 in 2018 alone. T...Read More