Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week in response to global price hikes, sources told Fastmarkets on Tuesday August 4. Market participants were just returning in the second half of the assessment period from Eid al-Adha celebrations and demand was moderate because of the holiday at the end of last week. UAE Offer prices for hot-rolled coil from I...Read More
The prices for steel rebar and billet in the United Arab Emirates increased this week, while market participants were just returning from the Eid Al-Adha holiday, which was celebrated at the end of last week, market sources said on Tuesday August 4.Domestic rebarThe country's rebar producers were still offering the product at 1,770-1,773 dirhams ($482-483) per tonne ex-works for orders to be produ...Read More
CIS export slab market was largely quiet in the week to Monday August 3 amid limited availability of material in the region as well as religious holidays in some of the customers' markets. Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $400-405 per tonne on Monday, up from $400 per tonne a week earlier. Some Russian producers of slab and finished flat stee...Read More
Chinese demand for imported billet increased sharply in the first six months of 2020 due to higher domestic prices in China in comparison with those beyond its shores, and market participants expect this situation to persist in the second half.Buyers in China started importing billet in large quantities since the second half of 2019, and the volume of imports grew gradually month on month.In Janua...Read More
The Turkish steel mills have broken their silence in the market and have resumed their deep-sea purchases after the Eid al-Adha religious holiday in the country, sources said on Tuesday August 4.A steel mill in the Marmara region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 20,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and new cuttings at an average...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The price for steel scrap in China has risen recently, amid high mill operating rates and at a time of heavy rain, but it remains at a premium to hot metal, we estimate. Heavy rains in China tend to increase the moisture content of iron ore stockpiles, which can cause issues during the sintering process, and this may have en...Read More
Turkish domestic auto bundle scrap prices continued to rise over the past week amid increasing imported scrap costs, while the ship scrap prices inched down amid a weaker lira, sources said on Tuesday August 4. Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,720-2,045 lira ($247-294) per tonne on Tuesday, up from last week's 1,720-1,97...Read More
Seaborne premium hard coking coal prices slumped on Tuesday August 4 following a recent transaction sealed at lower prices, with market participants attributing the downtrend partly to China's import restrictions on coking coal. Fastmarkets indices Premium hard coking coal, fob DBCT: $106.40 per tonne, down $1.96 per tonne Premium hard coking coal, cfr Jingtang: $116.38 per tonne, down $2.27 per t...Read More
Seaborne iron ore prices rose on Tuesday August 4 amid a healthy appetite for material among steel mills, according to traders.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $117.88 per tonne, up by $1.85 per tonne.62% Fe low-alumina fines, cfr Qingdao: $118.30 per tonne, up by $1.92 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $102.78 per tonne, up by $1.72 per tonne.65% Fe Bra...Read More
The price fluctuations in the high-grade iron ore market remains a key concern for Chinese steelmakers, especially with iron ore fines prices hitting an intra-year high on August 3.Steelmakers in China have started using a more price sensitive approach from July onward by consuming slightly cheaper low and mid-grade iron ore fines, trading sources said. The high-grade iron ore indices have also be...Read More
The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt alloy grade, in-whs Rotterdam at $14.25-14.70 per lb on Tuesday August...Read More
The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $14.25-14.70 per lb on Tuesday August 4, 2020. Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Numerous ore and alloy markets enjoyed upward pricing momentum in the first half 2020, with supply-side constraints supporting prices despite collapsing demand from steelmakers and other key end users. While supply side issues related to Covid-19 lockdowns have been resolved,...Read More
Twenty kilometres from a major four lane highway lies one of the largest undeveloped silver assets with an established resource of 115 million ounces of silver and 1.5 billion pounds of zinc, Golden Tag Minerals' (TSX-V: GOG) wholly owned San Diego Silver Project.Golden Tag has been preparing for stronger silver prices since 2019 in order to follow up on a resource outlined by a 2013 resource esti...Read More
Stock markets across the globe have remarkably recovered their lost ground after bottoming out in March. Similar to its peers, the Canadian stock market also rebounded strongly with the S&P/TSX 60 Index reflecting a decline of only about 3.7% year to date. While the COVID-19 stimulus packages and optimism over the reopening of the economy primarily drove the equity markets up, weak economic da...Read More
The gold rally has many investors moving funds into the gold miners, but oil is also making a comeback.Black gold opportunitySuncor Energy (TSX:SU)(NYSE:SU) is Canada’s largest integrated energy company. The upstream production assets, including the oil sands and offshore oil operations, are best known to investors. However, Suncor also owns four large refineries and roughly 1,500 Petro-Cana...Read More
Morelos gold property. Photo by Torex Gold Resources Torex Gold released its second quarter financial results and updated production guidance for the year: with 59,508 oz. generated in the quarter, the company now expects to produce 390,000 oz. to 420,000 oz. of gold this year.Torex's original guidance was for 420,000 oz. to 480,000 oz. of gold. However, following a covid-19-related decree from...Read More
Victoria Gold Corp.'s Eagle Gold Mine. Credit: Victoria. Victoria Gold made a $10 million early unscheduled repayment of interest and principal towards its $100 million senior secured credit facility. The facility was fully drawn as of the end of March and the company made its first, $7.1 million principal repayment at the end of May."We are advantaged to be in the final stages of ramping up the...Read More
The year 2020 is a new era for gold stocks and gold prices. After a long period of weak and uninspiring gold prices, today the industry is booming. The price of gold has risen above $2,000 for the first time ever. It is up 36% in 2020 and up 365% in the last fifteen years.And of course, gold stocks have followed suit. The S&P 500 Gold Sub Index has soared 66% in 2020, and Canadian gold stocks...Read More
WearSense monitors Credit: Metso Outotec Newly formed Metso Outotec has closed the acquisition of Davies Wear Plate Systems, an Australia-based fastener and wear monitoring technology provider, which extends the company's wear lining portfolio and capabilities.The acquired technology includes fasteners featuring a unique locking mechanism that does not require traditional studs and nuts...Read More