Steel billet prices in the Turkish markets have been weakening over the past seven days because of softening demand and the latest downturn in scrap prices, sources said on Thursday February 21.Fastmarkets' weekly price assessment for billet imports into Turkey was $450-473 per tonne cfr on February 21, down from last week's $475-480 per tonne.Only one cargo from the CIS region to Turkey was heard...Read More
Turkish domestic rebar and wire rod prices have continued to weaken due to the sluggish demand in the country, sources said on Thursday February 21.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,100-3,150 ($584-594) per tonne ex-works on February 21, down from last week's TRY3,180-3,250 per tonne.Domestic rebar prices in the Izmir and Karab? 1/4 k regions were TRY3,100-...Read More
Iron ore prices continued to retreat on Thursday February 21, with Chinese steelmakers cautious abouthigh costs.MB 62% Fe Iron Ore Index: $86.68 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.08 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.36 per tonne cfr Qingdao, down $0.74 per tonne. MB 58% Fe Premium Index: $77.23...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. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at $99.80 per tonne cfr China, bill of lading...Read More
Authorities from Dalian Customs have announced the import quota across the five ports under its jurisdiction for the 2019 calendar year at no more than 12 million tonnes, down from 16 million tonnes in 2018, sources told Fastmarkets on Thursday February 21.Port of Dalian: 950,000 tonnesPort of Bayuquan: 6.5 million tonnesPort of Panjin: 750,000 tonnesPort of Dandong: 3 million tonnesPort of Beilia...Read More
Seaborne coking coal prices rose on Thursday February 21 amid a suspension of operations at a mine in Queensland, Australia and with the emergence of a smaller quota for imported coal in a major city in northeastern China.An April-laycan cargo of a top Australian brand was sold at $215 per tonne cfr China to a Chinese trader via a miner's tender during the day, according to various sources.A cargo...Read More
China's domestic rebar prices rebounded on Thursday February 21 amid a pick-up in demand. Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($550-556) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,700-3,720 yuan per tonne, up 20 yuan per tonneGains in the billet and futures markets coupled with the announcement of higher list prices by steelmakers pushed up spot prices, sources s...Read More
China's hot-rolled coil market maintained its upward momentum on Thursday February 21, with sellers continuing to make attempts to prop up prices amid rising costs.DomesticEastern China (Shanghai): 3,760-3,790 yuan ($559-563) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,690-3,700 yuan per tonne, narrowing upward by 20 yuan per tonneSellers in Shanghai started selling at around 3,790...Read More
French mining and metallurgy company Eramet generated lower operating income from its manganese business in 2018 despite higher sales, the group announced in a results statement on Wednesday February 20.This was a consequence of squeezed manganese alloy margins which offset strong manganese ore prices.Operating income at the manganese division dropped to ?,?699 million ($793 million) in 2018 from...Read More
Key data from the Wednesday February 20 pricing session in Shanghai. Cobalt metal key drivers The domestic Chinese cobalt metal price trended lower midweek due to thin spot activity following the Chinese New Year holiday on February 4-10 as well as lower offers from some suppliers who were trying to offload stocks. Mainstream offers and sales for Jinchuan-brand cobalt were around 290,0...Read More
Domestic stainless steel prices in China increased slightly over the past week amid an uptick in demand.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,000 yuan ($2,185-2,230) per tonne including value-added tax for the week ended Wednesday February 20, narrowing upward by 100 yuan per tonne from 14,600-15,000 per to...Read More
In a one hour and forty-five minute conference call on Feb. 13, barely seven weeks after the merger of Barrick Gold (TSX: ABX; NYSE: GOLD) and Randgold Resources became effective on Jan. 1, newly installed president and CEO Mark Bristow said he was excited "by the prospect of putting the Barrick brand back where it belongs, and that is at the head of the gold mining industry," and that the new tea...Read More
Harte Gold's (TSX: HRT; US-OTC: HRTFF) Sugar Zone gold mine in northern Ontario reached commercial production on Jan. 1, and permitting is underway to increase throughput to 800 tonnes per day.In the meantime, the company has just folded into a revised resource estimate, 90,000 metres of infill and step-out drilling it completed last year across the Sugar, Middle and Wolf Zones.The drill program e...Read More
Galway Metals (GWM.V, GAYMF) is a Canadian exploration stock with two prospective projects located in strategic locations. Fundamentally, some things stand out.1. InsidersOver 30% of outstanding shares are in the hands of management and insiders. High quality management as both CEO and Chief Geo come from Kirkland Lake Gold (KL.TO) where they also held management positions. Another reputable insid...Read More
Energy, mining, and Canadian cannabis continue to offer growth investors the potential for upside - though not all of these industries provide stocks with the same mix of value, outlook, and passive income. The following representative stocks are a good place to start if you're looking for high expected growth in earnings over the next couple of years, so without further ado, let's take a look at...Read More
Galway Metals (GWM.V, GAYMF) is a Canadian exploration stock with two prospective projects located in strategic locations. Fundamentally, some things stand out.1. InsidersOver 30% of outstanding shares are in the hands of management and insiders. High quality management as both CEO and Chief Geo come from Kirkland Lake Gold (KL.TO) where they also held management positions. Another reputable insid...Read More
The miner's key project is the Baita Plai underground polymetallic mine in Romania, and it is also putting money into a Marange diamond fields joint venture in Zimbabwe.The bridging loan from Bergen Global Opportunity Fund came after an expected $5.5 million prepayment package was delayed in late 2018.Mercuria Energy Trading finally cancelled the financing in January, sending Vast into a funding c...Read More
The record large 16.28 carat gem-quality diamond recovered on February 18 was sold for $78,947, valuing the stone at US$4,849 per carat. The smaller 8.97ct diamond recovered earlier in the month was sold for $8,306/ct, giving it a total value of $74,513. The stone had been independently valued at over $50,000.CEO Adam Waugh said the sales had further strengthened BlueRock's confidence in the...Read More
The result saw a dividend of 15c per share declared.Last October, Lycopodium reported revenues of $194.6 million and a net profit after tax of $18.17 million for the year ended June 30, with the company saying it expected results in the current year to be generally in line with 2017/18.Last year Lycopodium paid a total dividend of 30c, including 12c in the first-half.In its statement today, Lycopo...Read More
A Nautilus Minerals seafloor bulk cutter mining machine. Source: Nautilus Minerals Inc.Nautilus Minerals Inc. [NUS-TSX; NUSMF-OTC], a company that was hoping to become the world's first deep sea mining firm, has sought protection against bankruptcy.Nautilus said Friday February 22 that it has obtained an order from the British Columbia Supreme Court that provides the company with protection from i...Read More