The import pig iron market in the United States was calm during the week to Friday October 9 with both buyers and sellers preferring to wait and see where the Chinese market will turn after their return from the Golden Week holiday.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $370-375 per tonne on Friday, unchanged week on week."Nothing has happened this week [in...Read More
Brazil's export pig iron market was quiet in the week to Friday October 9 because market participants in China were away for the National Day holiday and due to long lead times for delivery, sources said. Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $352-355 per tonne on Friday, widening upward from $352-353 per tonne one week earlier. Offers for Braz...Read More
Prices in the market for inter-merchant light iron scrap in the UK softened over the week to Friday October 9 after a steady run since September 11, industry sources have told Fastmarkets.Weaker conditions in the European steel scrap export markets to Turkey and the Indian subcontinent have pulled British domestic offer prices downward, they said.Fastmarkets' weekly price assessment for steel scra...Read More
The price of shredded scrap imported into India continued to decline in the week to Friday October 9 following a flurry of trades at lower prices, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $305.74 per tonne on Friday, down from $308.27 per tonne one week previous and the fourth consecutive week of downward movement. Prices i...Read More
Turkish steel mills continued their deep-sea scrap purchases at the end of the week after securing lower prices, sources told Fastmarkets on Friday October 9.A steel mill in the Marmara region booked a cargo from the United States, comprising 38,000 tonnes of HMS 1&2 (80:20) at $283 per tonne and 2,000 tonnes of plate and structural (P&S) at $293 per tonne cfr.Thursday's deals for HMS 1...Read More
Seaborne iron ore prices were up on Friday October 9 after the return of active trading from Chinese market participants and post-holiday restocking activities, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $125.72 per tonne, up $2.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.79 per tonne, up $2.30 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116....Read More
Seaborne premium hard coking coal prices declined on Friday October 9 after sources told Fastmarkets that state-owned steel mills in China had received notification in late September not to import coking coal from Australia after October 1.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.84 per tonne, down $2.28 per tonne Premium hard coking coal, cfr Jingtang: $141.15 per tonne, down $...Read More
The three-month nickel price on the London Metal Exchange was the standout performer during morning trading on Friday October 9, with strong buying activity pushing the metal above nearby resistance levels, while high-volume trading saw LME zinc futures clear $2,400 per tonne in a 2.1% upsurge.Nickel's outright price on the LME was recently trading at $15,010 per tonne on Friday morning, climbing...Read More
China's domestic rebar price moved up on Friday October 9, with market participants returning from a week-long holiday to celebrate the country's National Day.DomesticEastern China (Shanghai): 3,670-3,700 yuan ($540-545) per tonne, up by 40 yuan per tonneNorthern China (Beijing) weekly assessment: 3,630-3,680 yuan per tonne, up by 60-90 yuan per tonneDemand for rebar strengthened in the past eight...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,...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...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. 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...Read More
US precious metals miner Hecla has increased zinc and lead production over the first three quarters of the year, it said in its latest financial results statement.Hecla produced 48,700 tonnes of zinc in concentrate from January to September 30, up 14% on 2019 figures. And at 24,620 tonnes, lead production was up by 41% year on year in the same comparison. ...Read More
A backlog of containers of metal scrap stuck at ports across Australia has hammered the availability of steel scrap from the country and piled demurrage costs onto beleaguered traders, sources told Fastmarkets."Scrap supply in Asia is limited. Australia is having issues due to port congestion and carriers are imposing additional charges, which is raising prices," a Singaporean scrap trader said."S...Read More
Import prices for containerized ferrous scrap in the key Taiwanese market slipped further in the week to Friday October 9 ahead of a major holiday in the territory, sources said.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $265-267 per tonne on Friday October 9, unchanged from Thursday and down by $3-5 p...Read More
Key data from the Friday October 9 pricing session in London. Key drivers Suppliers lowered their offers to secure limited inquiries amid weak consumer demand. Trading has also slowed on fears...Read More
Europe and United States' lithium battery-grade spot prices held steady over the week to Thursday October 8, with the market in wait-and-see mode, while the technical-grade hydroxide price rose for the first time in a year.Europe and US battery-grade spot prices held steady for the third consecutive week after posting losses in mid-September. Sources reported strengthening prices for technical-gra...Read More
Warren Buffett is considered one of the most value-focused investors of our time. And while it’s true that he has made fortunes investing in troubled companies and leveraging recessions, he isn’t always after the lowest valuation point. This was evident in the 2020 market crash when Buffett didn’t start buying after the market was about halfway into recovery.This also falls in li...Read More
Torex Gold Resources Inc. (TSX: TXG) is an intermediate gold producer, based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt, located 180 kilometres southwest of Mexico City. We learned from Jody Kuzenko, President and CEO of Torex Gold, that their assets in Mexico inc...Read More