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:Global Ore, Vale, 170,000 tonnes of 62%...Read More
The seaborne coking coal market is off to a sluggish start for 2018 with no new firm offers or bids heard while participants continued to sit on the sidelines. "The same offers have been lying there for over a month now but they are unable to spark any interest due to high prices. They will have to be lowered by $10-20 per tonne in order to get the trades done," a northern Chinese mill source told...Read More
The European Union has taken over the chairmanship of the Kimberley Process for 2018, a decade after it last directed the initiative. Federica Mogherini, who is an Italian politician and the High Representative of the bloc for Foreign Affairs and Security Policy, will be heading the operation. Kimberley is a process started in 2003 following the United Nations General Assembly's Resolution 55/56....Read More
China's ferrous futures rose during morning trading on Tuesday January 2 as sentiment improved in the new year, leading to the recovery of trading appetite. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,871 yuan ($594) per tonne, up 70 yuan per tonne May hot-rolled coil: 3,920 yuan per tonne, up 69 yuan per tonneDalian Commodity Exchange May iron ore: 543.50 yuan...Read More
Brazil's Vale (NYSE:VALE), the world's largest iron ore and nickel miner, said in a securities filing on Tuesday that on January 8, 2018, it will conclude the sale of a fertilizer unit to US-based Mosaic Co. (NYSE:MOS) with adjustments. The changes will reduce the price tag of the sale by $1.35 billion. The South American miner revealed that it wants to retain control of the TIPLAM port terminal,...Read More
International diamond trading network Rapaport Group released a report that states that, following a better-than-expected holiday season, polished diamond prices stabilized in December 2017.Even though the company's RapNet Diamond Index, known as RAPI, slid 1.7% for 3-carat diamonds in the last month of the year, it edged up 0.3% for 1-carat diamonds, 1.2% for 0.30-carat diamonds, and 0.6% for 0.5...Read More
Two underground mine workers succumbed to smoke inhalation sickness following exposure to blasting gasses at Golden Star's Prestea underground gold mine in Ghana on December 29.In a statement, Golden Star said it suspended operations at Prestea to allow for the initial investigation of the incident. The mine has now resumed full operation. Mine management and the Inspector of Mines are conducting...Read More
Prices in China for hot-rolled coil narrowed upward in Shanghai on Tuesday January 2 following the rising paper market, but dipped in Tianjin on poor demand.DomesticEastern China (Shanghai): 4,290-4,310 yuan ($658-661) per tonne, narrowed upward by 10 yuan per tonneNorthern China (Tianjin): 4,150-4,180 yuan per tonne, down by 20 yuan per tonneThe northern Chinese market remained weak amid poor dem...Read More
China's domestic rebar prices rose on Tuesday January 2 amid gains in the billet and futures markets. Domestic Eastern China (Shanghai): 4,280-4,330 yuan ($657-665) per tonne, up 30 yuan per tonne Northern China (Beijing): 4,020-4,050 yuan per tonne, up 20 yuan per tonne Billet prices rose during the New Year weekend, which returned some bullishness to the rebar market. The increases in the paper...Read More
The Singapore Bullion Market Association (SBMA) has appointed Martin Huxley, managing director of INTL Asia, as its chairman effective December 14, 2017, the association said on Tuesday January 2.INTL Asia is a subsidiary of INTL FCStone. Huxley succeeds Sunil Kashyap from the Bank of Nova Scotia who has ended his two-year chairman tenure. Huxley joined INTL FCStone in...Read More
Base metals traded on the London Metal Exchange are for the most part consolidating this morning, Tuesday January 2, with lead the exception where prices are up 0.6% at $2,514 per tonne. The rest are little changed with copper prices at $7,254 per tonne, but trading volume has been high at 11,821 lots as of 7.30am London time. This comes after an overall positive close to the year on Friday Decemb...Read More
Two newly-built antimony smelters outside China will bring production into the physical market in 2018, significantly altering the global antimony supply structure.The two smelters, one located in Oman and the other in Tajikistan, have production capacities of 20,000 tonnes per year (tpy) and 5,000 tpy, respectively, representing approximately 12% and 3% of average annual world antimony produ...Read More
Gold prices were up inthe Tuesday morning Asia trading session as the dollar weakened further.The spot gold price was recently quoted at $1,306.35.50/1,306.65 per oz, up $3.7 from the previous trading day's close. Trade has ranged from $1,304.25 to $1,307.50 per oz so far today. The US dollar index on Tuesday morning was down 0.08 to 92.22."As global complacency over the trajectory of US rates con...Read More
Spanish stainless steelmaker Acerinox will invest ?,?5 million ($6 million) in a new cutting and slitting line at its Columbus stainless steel mill in South Africa, it said last week.The new line will allow the Columbus mill, which has capacity for 500,000 tonnes per year, to increase exports by 3,000 tonnes per month, Acerinox said on December 26."This new equipment will also increase direct sale...Read More
European alloy surcharges for January deliveries of grade-304 cold-rolled (CR) stainless steel sheet have fallen month-on-month amid lower nickel costs.The January alloy surcharge for 2mm grade-304 CR stainless steel sheet - compiled by Metal Bulletin based on data published by Outokumpu, Acerinox and Aperam - is ?,?1,240-1,301 ($1,488-1,561) per tonne.This represents a fall of ?,?59-80 per tonne...Read More
Legendary Dome Mine Timmins Ontario (Wiki Photo)https://www.northernontariobusiness.com/The final day of 2017 marked the end of an era at a Timmins mine. More than 100 years after the Dome underground mine started, work permanently ceased on Dec. 31.Goldcorp Porcupine Gold Mines (PGM) announced the closure, which directly affects about 140 people, in August. To mark the end of the historic operati...Read More
Russia's latest nuclear power reactor, Rostov 4, reached criticality and minimum controlled power on 29 December. It is Russia's 36th reactor in a fleet that meets about 18% of the country's electricity demand.Rosenergoatom have said Rostov's four units will "complete the energy security in southern Russia" (Image: Rosenergoatom)With the integrity and function of all operation and safety systems...Read More
DUBLIN--(BUSINESS WIRE)--The "Metal Ore Mining Market Global Briefing 2017" report has been added to Research and Markets' offering.Metal ore mining industry primarily covers mining of metallic minerals and development of mine sites. It also includes ore dressing, and other beneficiating operations such as crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching.The i...Read More
Eric Griffin takes your top questions to ITM Trading's Chief Market Analyst Lynette Zang.Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes st...Read More
On November 28, a federal judge ordered Coinbase, a company that facilitates transactions in crypto-currencies Continue...Read More