Seaborne iron ore prices were largely rangebound on Thursday July 23 with political tensions rising between the United States and China, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $110.12 per tonne, down by $0.83 per tonne.62% Fe low-alumina fines, cfr Qingdao: $112.80 per tonne, down by $0.04 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $99.57 per...Read More

China has become the savior of the global steel market, with its big appetite and high domestic prices supporting the international ferrous supply chain amid the Covid-19 pandemic.While demand for steel in most economies has plummeted in the face of the health crisis, that in China has been strengthening since at least the second quarter of 2020 amid the country's steady recovery after battling th...Read More

Export prices for bulk cargoes of Japan-origin scrap increased again over the past week, with continued low supply combining with firm demand, market participants told Fastmarkets.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?24,500-25,000 ($229-234) per tonne on Wednesday July 22, up by ?1,500 per tonne week on week.Japanese H1:H2 scrap was sold to Taiwan a...Read More

The LME is to continue its market-wide consultation on the implementation of pre-trade transparency changes, after halting the process due to Covid-19 in April, the exchange said in a note to members on Wednesday July 22. Amendments were initially set to take place in mid-2020, but were shelved due to the outbreak of Covid-19 across Europe, which continues to impact the London Metal Exchange'...Read More

Overseas buyers are bidding higher for hot-rolled coil from China, with sellers in other parts of the world keeping their offers high.DomesticEastern China (Shanghai): 3,940-3,970 yuan ($564-568) per tonne, widened downward by 10 yuan per tonneChina's domestic HRC prices were largely stable on Thursday July 23, although most traders told Fastmarkets that trading activity was weaker compared with s...Read More

The three-month nickel price on the London Metal Exchange was higher during morning trading on Thursday July 23, with strong turnover across the Asian session leading price action to gain just under $400 per tonne over the morning, while copper spreads continued to tighten.Nickel's outright price on the LME was recently trading at $13,520 per tonne, appreciating from a morning low of $13,070 per t...Read More

China's domestic rebar prices lost their upward momentum on Thursday July 23 amid slight increases in the futures market during the day, with tensions between the country and the United States escalating in the background.Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($516-520) per tonne, unchangedSources reported that trading activity was steady in the spot rebar market on Thursday.Analysts...Read More

Heightened diplomatic tensions between the United States and China, and their potential implications on the phase one trade deal struck between the two nations, were a headwind for the base metals this morning, Thursday July 23. Meanwhile, more liquidity keeps underlying sentiment bullish, as do supply concerns.Base metals have run into resistance; not so the precious metals, especially gold after...Read More

Key data from the pricing session in London on Thursday July 23.Key drivers Cobalt prices stabilized after falls at the beginning of the month. Some market participants beleved the market to be close to the floor due to rising...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...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...Read More

Key data from Fastmarkets' pricing session in Shanghai on Wednesday July 22. Key driversPrice of antimony in China's domestic market climbed after high offers translated into deals. Domestic suppliers maintained firm offer prices amid growing buying interest and persisting difficulty...Read More

The Ramu NiCo mine, which produced at record levels in the first quarter of the year, appears to be operating normally despite a 7.0 earthquake that hit Papua New Guinea on Friday July 17.Neither the mine's operator, Metallurgical Corp of China ("MCC"), in Beijing, nor Ramu NiCo's minor stakeholder, Conic Metals Corp, in Toronto, responded to Fastmarkets' multiple requests for updates on the nicke...Read More

China's domestic stainless steel prices increased slightly over the past week on rising demand from manufacturers, but a slower recovery elsewhere saw sellers from China and East Asia dropping their export offers to encourage buying activity. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,500-14,000 yuan ($1,926-1,998) per tonne, narrowing up by 100 yuan per tonne...Read More

Demand for copper scrap material in the United States remained lackluster this week; the market is not short on copper scrap, sources said, noting that pressured overseas markets have weighed further on already weak domestic demand."There's severe pressure on the consumer market overseas," a consumer said. "Our end markets aren't valuable enough."Fastmarkets' assessment of the discount for copper...Read More

Mining in the United States has been ongoing for centuries and has played a role in the country's development over the years. The Northern Miner presents its annual Top-10 listing of the largest U.S.-based mining companies, which are ranked by market capitalization, as of July 24, 2020.1. NewmontMarket cap: US$53.6 billionThe Kalgoorlie Super Pit gold mine, adjacent to the city of Kalgoorlie-Bould...Read More

Tesla boss Elon Musk is asking miners to produce more nickel, a key ingredient in the batteries that power his company's electric cars, and has offered a "giant contract for a long period of time" to any firm able to extract it in an efficient, environmentally sustainable manner.Musk noted on a second-quarter earnings call that the high price of batteries continues to be one of the main hurdles fo...Read More

You’re a veteran investor with years of experience. You’ve seen prime ministers and presidents come and go. You’ve seen recessions and rallies. Your portfolio had been ticking along nicely, balanced across a spread of Canada’s strongest industries and top blue-chip businesses. But then along came 2020. Suddenly, the world was turned on its head. How do you manage that portf...Read More

Canadian broader markets have soared almost 45% after hitting record lows in March. Interestingly, this rally post-COVID-19 crash was not all-inclusive. Some TSX stocks are still trading below their fair values and offer decent upside potential. So, if you are sitting on some cash, consider these three TSX stocks trading at a notable discount.goeasygoeasy (TSX:GSY) is a $750 million consumer lendi...Read More

Image from Cariboo Regional District's YouTube channel. KORE Mining has released assay results for six holes completed at its FG Gold project in the Cariboo region in British Columbia, which extend the Lower Zone discovery and further define the Upper Zone.Drill highlights include 52.5 metres of 1.1 g/t gold starting at 122.5 metres from the Lower Zone - this hole ended in mineralization.Notable...Read More