A summary of Swedish state-owned iron-ore producer LKAB's financial results for the third quarter of 2020 ended September 30. In brief LKAB's iron ore deliveries surge by almost 40% year on year. Despite record quarterly iron ore deliveries, LKAB recorded slightly weaker operating results for the third-quarter period due to lower prices for highly upgraded iron ore products and increase...Read More
Spodumene producer Pilbara Minerals has entered a conditional deal to acquire Altura Mining's lithium project in Western Australia, it said on Wednesday October 28.Pilbara's conditional agreement with Altura's senior secured loan noteholders provides a path for a potential purchase of the project through the acquisition of shares in Altura Lithium Mining Operations Pty Ltd (ALO) for about US$175 m...Read More
The London Metal Exchange three-month nickel price made significant gains in the morning session on Wednesday October 28, rising 2.5% from the previous day's close to hit an intraday high of $16,310 per tonne - a fresh year-to-date high. LME nickel futures bucked the complex's current sideways trading trend, in which most metals continue to wax and wane in line with the US equities markets, on Wed...Read More
Key data from the Wednesday October 28 pricing session in Shanghai. Tight supply of aluminium scrap - the raw material for aluminium alloy ADC12 ingot - did not ease much although China's newly released customs code for imported aluminum scrap does allow more scrap into China after November theoretically. The aluminium scrap price in the domestic market firmly supports the production cost of alumi...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the main part firmer this morning, Wednesday October 28, this despite early weakness in major western equity index futures that were suffering because parts of Europe look set to escalate lockdown measures. France is reportedly contemplating a one-month nationwide lockdownNickel prices surge as a nickel min...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 28.Key driversThe ferro-titanium market in Europe climbed further over the week, adding to a steady run of gains since August 19 when the market was assessed at $3.30-3.85 per kg ddp. Steady demand and competition from overseas buyers in India and China have supported the rally in recent weeks, while persistent scrap tightne...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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, $/lb at...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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, $/lb...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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. Read More
South Africa's proposal to impose an export tax on UG2 chrome ore has revived sentiment and halted a slump in prices, while ferro-chrome markets held steady ahead of the release of November tenders, sources said on this week.News of the proposed export tax saw Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settle at $136 per tonne on Tuesday, up by $1 per t...Read More
The United States' ferrous scrap export market is enjoying renewed activity and better prices on both the East and West Coast, which is also working to tighten supply in the domestic market ahead of November's trade.On the East Coast, two additional cargoes were sold to Turkey this week at $292 per tonne for an 80:20 mix of No1 and No2 heavy melting scrap, $297 per tonne for shredded scrap an...Read More
Domestic steel rebar prices in south Europe dipped slightly due to slower buying amid lockdown fears, yet prices widened upward in the north on bullish offers from mills, sources told Fastmarkets on Wednesday October 28.Southern EuropeFastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered southern Europe was ?,?445-450 ($526-532) per tonne on Wednesday, down by...Read More
The first half of 2020 was great for gold investors, as the COVID-19 spread across the world prompted investors to invest in the precious metal. In general, investors treat gold and gold-related assets as safe havens in times of uncertainties. That is the key reason why so many investors seemingly found it wise to take refuge in gold earlier this year.Why Gold prices have fallenA sudden increase i...Read More
Warren Buffett has been relatively quiet throughout 2020. The economic situation turned disastrous for investors big and small. The billionaire investor was already on high alert, as an inverted yield curve suggested a downturn was coming. The pandemic made sure of that and then some, with many economists believing there will be several crashes before we’re out of this poor market.It could b...Read More
Bob Moriarty ArchivesOct 29, 2020Just an interesting aside for those considering cutting their wrists after Wednesday’s decline, the DSI for gold is 19 and for silver 17. I would like to see both go down to 10 or below. Saturday is a full moon. I may not get my wish. We are near a bottom.Loyal 321gold readers and Novo shareholders are well aware I am writing a book about the Novo saga. I pla...Read More
The index outperformed others such as the S&P/TSX Composite, which gained 4% in the period, and the group's major index which gained 6%.The firm's Canada mining and metals co-leader, Jeff Swinoga, said Wednesday the coronavirus and price volatility for all commodities failed to hinder the index' advance."Mining and metals companies have handled the impact of this ongoing disruption extremely w...Read More
Share this articleCALGARY - The CEO of Suncor Energy Inc. says the Alberta government's decision to end its oil production curtailment program in December after almost two years is "a very positive signal" for the oilsands and refining giant.On a conference call, Mark Little says the end of the quota system imposed to support oil prices will allow Suncor to operate "unencumbered" as it recovers fr...Read More
Canarc Resource Corp. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CAN) is currently advancing two core assets, each with substantial gold resources, and has initiated a high impact exploration strategy to acquire and explore new properties that have district-scale gold discovery potential. We learned from Scott Eldridge, who is CEO of Canarc Resources that their flagship asset is the New Polaris past-pro...Read More
Jenny Jacobs is a registered nurse.As you can imagine, given the recent upswing in COVID cases, she's been extremely busy.But perhaps not in the way you might think.You see, Jenny doesn't work in an emergency room or at a private family health practice.Jenny works at a rehab clinic where folks with all kinds of addictions come to get clean.And since COVID-19 took hold, addiction rates have skyrock...Read More