Novolipietsk Steel (NLMK), the largest steel producer in Russia, has resumed iron ore concentrate output at its Stoilensky mining and processing plant after two weeks of downtime due to an accident, the company said.Stoilensky GOK resumed operations on September 22 in a hot trials mode after output at the asset was stopped on September 7 following an accident, NLMK said.The restoration works laste...Read More
Fastmarkets today launches two new prices for import containerized scrap and one for deep-sea bulk scrap, all on a cfr Bangladesh basis.The new prices will build on the success of Fastmarkets' price reporting on the Bangladesh import market for HMS 1&2 (80:20) scrap, which started on Thursday March 19.During Fastmarkets' coverage of the import deep-sea bulk market for HMS 1&2 (80:20), several mark...Read More
China's domestic rebar prices stopped dropping on Thursday September 24 with mills in several regions, including the northern region's production hub of Tangshan, reducing their output. DomesticEastern China (Shanghai): 3,600-3,640 yuan ($528-534) per tonne, unchangedSteel mills in Tangshan were reported to have suspended some of their steelmaking equipment as required by local authorities who hav...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...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,...Read More
The initial public offering (IPO) by Chinese battery materials producer CNGR Advanced Materials Co Ltd has been approved, according to a document filed to the Shenzhen Stock Exchange on Wednesday September 23. CNGR has been given the greenlight to be listed on the second-board market and the company plans to sell up to 56.97 million shares to domestic investors. The battery materials producer expe...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday September 23. Key drivers Domestic producers raised their offers in response to an increasing number of inquiries.Lingering uncertainty over when it might be possible to obtain available ore from abroad also encouraged producers to increase their offers.Many consumers returned to the market to restock antimony metal upon noticing...Read More
Prices for Chinese stainless steel softened over the past week on weak demand, while the wider East Asian market came under pressure from news of South Korea starting an anti-dumping probe on flat-rolled products in the segment from mainland China, Taiwan and Indonesia.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,300-15,100 yuan ($2,099-2,217) per tonne, widened downw...Read More
The strengthening of the U.S. dollar has pushed down the market value of gold stocks recently on the Toronto Stock Exchange. The U.S. Federal Reserve’s decision to keep interest rates low through 2022 should add downward pressure on the value of the U.S. dollar. Despite this easy money policy, the currency will more than likely strengthen over time, but analysts can’t be absolutely cer...Read More
The shares of Kinross Gold (TSX:K)(NYSE:KGC) surged by 7.5% on Thursday after witnessing a sharp sell-off in the previous three days. The stock has seen heightened volatility since it announced its quarterly dividend along with 2023 guidance a week ago.Kinross Gold expects higher operating costs in 2020Kinross Gold is a Toronto-based gold and silver mining company with business operations in six c...Read More
The CERB benefits will end tomorrow — leaving millions of Canadians with limited options to avail financial support from the government. The Service Canada and Canada Revenue Agency (CRA) have paid a whopping $78 billion to eligible Canadians so far under the CERB scheme. The government has processed nearly 26.7 million applications under the scheme.On Wednesday, the Trudeau administration s...Read More
Investors will pay 5c per share in the fundraising that will support Kairos' exploration for both sedimentary-hosted gold and also intrusive-hosted gold similar to De Grey Mining's nearbyRead More
Businesses all over the world have adopted new policies refusing cash payments in fear of spreading coronavirus to their employees and/or customers.And there are many folks interpreting these new policies as a sign of a cashless future.But how cashless will the future really be?There is no doubt the coronavirus and the resulting lockdowns increased the use of digital payments globally.According to...Read More
This structure is located in the Machichie Southwest area of Cabral Gold's Cui? Cui? property. Cabral Gold Inc. (CBR:TSX.V; CBGZF:OTCMKTS) announced in a news release it identified at least six high-grade veins at its Cui? Cui? gold project in Brazil and secured a second reverse circulation rig to drill the growing number of targets.This "is a truly exciting development and adds to the potential...Read More
The trading range on the HUI and other PM stock indexes continues its job of confusing both the bulls and bears alike. I’ve always said that trading an impulse move is much easier than trading during a consolidation phase. During a strong impulse move up it is easy to see the price action making higher highs and higher lows. Trading during a consolation phase is usually completely different....Read More
In military terms, the phrase "locked and loaded"refers to "locking" a magazine or cartridge into a firearm andloading a round into the gun's chamber. A variant is to "lock thesafety" and then load a magazine into the weapon.The analogy in his essay is that from a technical (chart)standpoint, the price of gold and silver arebuilding energy to the point that they are g...Read More
The dollar is the mostimportant unit of account for international trade, the main medium of exchangefor settling international transactions, and the store of value for centralbanks. The Federal Reserve is the lender of last resort, as in the 2008–09financial crisis, and is the most common currency for overseas borrowing bygovernments and businesses.Investors want to owndollars when the prove...Read More
The number of new daily infections in Europe is rapidly increasing, even reaching new heights in several countries. That is just another reminder that the second wave in fall or winter is upon us. Yes, I know. You are all fed up reading about the coronavirus. And yet, the coronavirus is not fed up with spreading around the globe. The number of new daily infections keeps going up, as the chart belo...Read More
Strong raid...by Harvey Organ of Harvey Organ BlogSEPT24//GOLD UP $9.30 TO $1874.30//SILVER UP 15 CENTS TO $23.15//GOLD TONNAGE AT COMEX: 14.9 TONNES//SILVER OZ STANDING: 54.4 MILLION OZ//CORONAVIRUS UPDATE THE GLOBE//TURKEY IN SERIOUS FINANCIAL TROUBLE AS RESERVE CURRENCY PLUMMETS: THEY RAISE RATES TO STEM THE FALL IN THE LIRA//IN THE USA 870,000 NEW UNEMPLOYMENT BENEFIT CLAIMS//NO TALKS BETWEEN...Read More
Base metals prices on the London Metal Exchange were mixed but little changed this morning, Friday September 25, this after once again running into dip-buying on Thursday.* A late rally in US equities on Thursday lent support to broader markets.* US Congress is working on a $2.2 trillion stimulus package that could be voted on next week.* Asian-Pacific equities were for the most part stronger this...Read More