Global steelmaker ArcelorMittal reported an 8.9% year-on-year decrease in its worldwide earnings in the fourth quarter of 2018 on Thursday February 7.The company's quarterly earnings before interest, taxes, depreciation and amortization (Ebitda) dropped to $1.95 billion in October-December 2018, down from $2.14 billion in the corresponding period of 2017. The decrease was driven by reduced shipmen...Read More
Steel billet import prices in Egypt increased this week with deals being agreed at higher levels, sources told Fastmarkets on Thursday February 7.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $460-470 per tonne cfr on Thursday, rising from $450-455 per tonne cfr last week.Billet producers in the CIS were offering material to Egypt at $470-480 per tonne cfr. This com...Read More
Seaborne iron ore prices remained flat on Thursday February 7 on continued muted trading amid a week-long public holiday in China. MB 62% Fe Iron Ore Index: $85.53 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $86.37 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $87.32 per tonne cfr Qingdao, unchanged. MB 58% Fe Premium Index: $78.74 per tonne cfr...Read More
The seaborne coking coal spot market was largely stable on Thursday February 7 despite the emergence of supply concerns in Queensland, Australia, following closure of ports in the country. Abbot Point Coal Terminal closed earlier on in the week due to flash flooding and land slips in North Queensland, Australia, it said on Thursday February 7. Abbot Point shipped 1.8 million tonnes of coal - inclu...Read More
Operations at Abbot Point Coal Terminal have been closed due to flash flooding and land slips in North Queensland, Australia, the terminal operator confirmed on Thursday February 7, with market participants also flagging potential disruptions at the state's other coal terminals. "Operations at Abbot Point Port were suspended early this week due to the extreme weather, which made it unsafe for empl...Read More
The environmental secretariat of Brazil's southeastern Minas Gerais state, Semad, has suspended a license granted in 2015 for Vale to operate the Laranjeiras tailings dam, connected to the Brucutu iron ore mine.The decision follows a court ruling that ordered the suspension of the Brucutu mine, according to Vale, and it makes any restart of the mine's operations more difficult."The resumption of t...Read More
Copper's three-month price on the London Metal Exchange continued on an upward trend at the close of trading on Wednesday February 6, maintaining its strong advance toward a price of $6,300 per tonne amid low liquidity because of a national holiday in China.Volumes traded were moderate over the day, with copper's 12,936 lots topping the complex. The metal also benefitted from a fresh cancelation o...Read More
The US copper market saw continued buying strength in morning trading on Wednesday February 6 with industry participants awaiting upcoming global trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 2.55 cents to $2.8425 per lb. "Senior US and Chinese officials are expected to start another round of trade talks in Beijing next week, wi...Read More
The following Fastmarkets minor metals prices changed on Wednesday February 6:Minor metalsCobalt MB free market alloy grade, $/lb: $17.80-20.00 per lb from...Read More
Key data from the Wednesday February 6 pricing session in Europe.Key drivers-The European ferro-titanium market extended a steady trend in prices for the fourth week in a row. Trading activity was reported as being low key, with prices held in their current range for both alloy and scrap, although there have been some reports of slightly higher and lower numbers in scrap.-Some industry s...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Mining companies are increasingly using streaming deals for growth rather than to repair balance sheets, the chief executive officer of the world's largest precious metals streaming company said. Randy Smallwood of Wheaton Precious Metals said that around 45% of the assets the company currently streams are development assets with funding provided while mines are built. "We had a phase, for a three...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 6:Aluminium scrapLoose old rolled cuttings: ?700-730 per tonne from ?710-730Cast wheels: ?1,190-1,225...Read More
Turkish deep-sea scrap import prices were stable on Wednesday February 6 despite news of a freshly booked cargo, sources told Fastmarkets.A steel mill in the Marmara region booked a European cargo comprising 12,000 tonnes of shredded at $328 per tonne cfr and 6,000 tonnes of busheling at $359 per tonne cfr for March shipment.Offer prices...Read More
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Delrey Metals Corp.'s (CSE:DLRY, FSE:1OZ) mandate is to create shareholder value by sourcing, financing & developing undervalued strategic energy metals properties & projects through staking ground or making accretive, prudently and creatively financed acquisitions & joint ventures / farm-ins. They're off to a good start and have a clean balance sheet with just 34 million shares outst...Read More
Delrey Metals Corp.'s (CSE:DLRY, FSE:1OZ) mandate is to create shareholder value by sourcing, financing & developing undervalued strategic energy metals properties & projects through staking ground or making accretive, prudently and creatively financed acquisitions & joint ventures / farm-ins. They're off to a good start and have a clean balance sheet with just 34 million shares outst...Read More
VANCOUVER, British Columbia - February 7, 2019 - New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (the "Company") is pleased to announce the preliminary results of the first metallurgical test work for its Silver Sand project in Potosi, Bolivia. Metallurgical sampling and test work commenced in September 2018 - the flotation recovery and bottle roll leaching test works for the trans...Read More