Russian flat-steel producers are in a bullish mood but, unusually for the market, their offer prices for February-rolled hot- and cold-rolled steel sheet differ widely, buyers told Metal Bulletin on Monday January 29.The major suppliers are Novolipetsk Steel (NLMK) and Severstal."Both have increased their offer prices for February-rolled material, but Severstal's price is still lower, even though...Read More

Most buyers of flat steel in the United Arab Emirates and in Saudi Arabia preferred to delay their purchasing this week because they had enough stocks and they expected discounts, sources told Metal Bulletin on Tuesday January 30.UAEHot-rolled coil (HRC) was offered at $600-610 per tonne cfr from China, while buyers were bidding $590-595 per tonne cfr.India offered the product at $610-620 per tonn...Read More

TSX: ALOwww.aliogold.com Mr. Bryan Coates reports:VANCOUVER, British Columbia, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Alio Gold Inc (TSX:ALO) (NYSE AMERICAN:ALO) ("Alio Gold" or the "Company"), announces 2018 production and cost guidance for the San Francisco Mine in Sonora, Mexico.Highlights Forecast gold production to increase to between 90,000 and 100,000 ouncesAll-in sustaining costs1,3 ("AISC") be...Read More

TSX VENTURE: GQCwww.goldquestcorp.com Mr. Bill Fisher reports:VANCOUVER, BC--(Marketwired - January 30, 2018) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to report assay results from the latest seven drill holes from its Cachimbo Discovery located within the Company's 100% owned Tireo Concessions in the Dominican Republic. Mi...Read More

China's domestic rebar prices were flat on Tuesday January 30 amid weak futures and sparse trading.Domestic Eastern China (Shanghai): 3,820-3,890 yuan ($603-614) per tonne, unchanged Northern China (Beijing): 3,900-3,940 yuan per tonne, unchanged Weakening futures kept the spot market bearish and resulted in buyers lowering their procurement rates further during the day. But sellers kept their off...Read More

CSE: XMGwww.mgxminerals.com Mr. Jared Lazerson reports:VANCOUVER, BRITISH COLUMBIA / January 30, 2018 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce that wholly-owned subsidiary ZincNyx Energy Solutions, Inc. (“ZincNyx”) has commenced development of a scaled-up 20 kW system for use in utility-scale batter...Read More

Merafe Resources expects to report an increase in earnings per share for 2017 of up to 82%, due to higher chrome ore and ferro-chrome prices during the year. The Johanesburg-listed chrome producer, which operates a joint venture project in South Africa with trader-miner Glencore, expects to report basic earnings per share of 34.5-38.5 cents for the year to December 2017. This compares with 21.2 ce...Read More

ASX: ARVwww.artemisresources.com.au Mr. David Lenigas reports:West Perth, WA / January 30, 2018 / JMN Wire / Artemis Resources Limited (ASX: ARV) ("Artemis") advises that it has received firm "bought deal" commitments from a London Institution, Global Investment Strategy UK Ltd, to raise $4.5 million (before costs) through the issue of approximately 22.5 million fully paid ordinary shares ("Shares...Read More

Chrome producer Afarak has drawn up a proposal to delist from the Helsinki Stock Exchange, maintaining a single listing in London following a request from a major shareholder.Afarak, which owns assets including South Africa's Mogale Alloys and Germany's EWW, will hold an extraordinary general meeting on February 5 to consider the proposal. The company said it will offer to buy back shares at ?,?1....Read More

ASX: DEGwww.degreymining.com.au Mr. Simon Lill reports:West Perth, WA / January 30, 2018 / JMN Wire / De Grey Mining Limited (ASX: DEG) ("De Grey", "DEG", "the Company") is pleased to announce that it has decided to proceed to acquire all the shares in Indee Gold Pty Ltd ("Indee Gold") from Northwest Non-Ferrous Australian Mining Pty Ltd ("NNAM").This decision to proceed with the acquisition of In...Read More

The production of tungsten concentrates at Wolf Minerals' Drakelands mine in the UK increased 22% in the fourth quarter of 2017 from the previous quarter.Wolf Minerals' processing plant produced 43,498 metric tonnes units (mtu) of tungsten concentrates in the quarter ended December 31, 2017, the company said in a statement on Tuesday January 30.It treated 485,788 tonnes of tungsten, an increase of...Read More

Due to a tight market balance, Citibank expects spot prices to sustain in the near term at $6.50-7 per dry metric tonne unit (dmtu), cif, China.One of the strong supporting factors is China's increasing dependence on imports, which remains the most important catalyst for seaborne prices, Citi's analysts said in a report released on January 30.China's manganese ore imports grew 30% year on year dur...Read More

Supply concerns continued to drive Chinese ferro-vanadium and global vanadium pentoxide (V2O5) prices, while European ferro-vanadium prices found stability at slightly lower levels while market activity slowed. Low availability continues to drive Chinese FeV, V2O5 markets European ferro-vanadium prices stabilize at slightly lower levels US FeV market continues to run on supply concerns, trader int...Read More

Manganese ore prices continued to exhibit strength on thinning supplies last week, while Chinese alloy markets felt pressure from slowing demand. Tightening supplies drive ore prices upward Sluggish demand weakens Chinese alloy prices EU alloy markets remain firm in quiet market US alloy prices continue to run on cold-weather-related tightnessOre prices edge higher on tightening suppliesManganese...Read More

Noble Group has agreed on a restructuring deal with a group of senior creditors that would halve its existing debt and leave current shareholders with 10% of the restructured company, according to a statement from Noble on Monday January 29.Under the agreement, a group of senior creditors representing 30% of Noble's bonds and revolving credit facility will exchange their debt for a combination of...Read More

As Otto mentioned (link) the grades 'that should not be mentioned' mined during Q4 at the Valley of the Kings Wangs* was a lot lower than planned - 8.4 g/t vs 15.4 g/t, a 45% difference. *I'm pandering to my Chinese overlordsThe market didn't go yippee!down 35%Fortunately, the Brucejack web-page (link) contains all the answers to those irritating questions about grade, production and so on......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 transactions: iron oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $72...Read More

The latest metal markets news and price moves to start the North American day on Tuesday January 30.Base metals prices on the London Metal Exchange were lower across the board after prices corrected from last week's gains.Nickel prices are the worst affected, down over 2%, as the result of a sell-off. But prices do remain firmly above the $13,000 per tonne barrier...Read More

Iron ore prices tumbled below $73 per tonne cfr China on Tuesday January 30 after a drop in billet prices, with trades concluded at lower prices than a week ago. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.97 per tonne cfr Qingdao Daily change: down by $1.36 per tonne Month-to-date average: $75.97 per tonne Metal Bulletin's 58% Fe Premium Index Today: $59.70 per tonne cfr...Read More

Seaborne coking coal prices were firm on Tuesday January 30, with sellers expecting interest from Chinese buyers for seaborne cargoes to support trading activity. A premium low-vol cargo was heard to have changed hands at around $215 per tonne cfr China, market sources said on Tuesday. This follows a trade on a higher-ranked cargo at $217.50 per tonne cfr China at the end of last week. Domestic co...Read More