The European Commission unveiled an updated list of critical raw materials on Thursday September 3 that it aims to secure the supply of while avoiding over-dependence on third countries, alongside an action plan to create domestic supply chains for raw materials.Lithium, a material that is critical for the shift to a greener economy, has been added to this list for the first time. Lithium is a key...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Europe's monthly alloy steel surcharges for September have increased moderately from the levels in August because of higher nickel costs, Fastmarkets heard on Friday September 4.Fastmarkets' stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was calculated at ?,?1,367-1,377 ($1,617-1,629) per tonne for September, up by ?,?10-22 per tonne from the August range.The...Read More
Light vehicle production in Mexico decreased 13.2% year on year in August, according to figures from the country's statistics agency, Inegi.Mexican automakers produced 293,463 vehicles last month, a decrease of 44,435 units from the 337,898 vehicles produced in August 2019, according to the figures released on Friday September 4.Output also declined by 0.5% from 294,946 units in July.Sales...Read More
Taiwanese buyers of ferrous scrap imports who held out for cheaper cargoes in the past week ended up being faced with higher prices."Many buyers felt that prices had peaked previously and were waiting for them to fall. But it later turned out that prices in Turkey increased further," a Taiwanese buyer source told Fastmarkets on Thursday September 3.Fastmarkets' daily price assessment for container...Read More
In conversation with Maurice Jackson of Proven and Probable, Tim Johnson, the CEO of Granite Creek Copper, explains what's behind the company's increased valuation, and looks ahead to additional growth opportunities. Maurice Jackson: Joining us for a conversation is Tim Johnson of Granite Creek Copper Ltd. (GCX:TSX.V). Always a pleasure to speak with you, sir. Before we get in today's conversatio...Read More
Sep 07, 2020 Guest(s): Daniel Pavilonis Senior Market Strategist, RJO Futures A post-COVID-19 global economy is creating a paradigm shift in financial markets that will continue to benefit gold, even as prices struggle to break through resistance at $2,000 an ounce, according to one market analyst.In an interview with Kitco News, Daniel Pavilonis, senior market strategist at RJO Futures, said th...Read More
Looking for a mining movie to watch? Check out our list of some of the greatest gold mining films ever made.Read full newsRead More
Legendary investor Warren Buffett is known for being uninterested in gold, but what comments has he actually made about the yellow metal?Read full newsRead More
Deep-South Resources Inc. announces that it will close $1 millionRead full newsRead More
If global investors reallocated just 5% of their financial assets to gold that would be $14.7 trillion of increased demand trying to purchase less than $1.8 trillion of privately held gold bullion.Read full newsRead More
Here are five Fastmarkets stories you might have missed on Thursday September 3 that are worth another look.A month ago, Eric, a steel importer based in eastern China, was pricing hot-rolled coil imports 20-30 yuan ($3-4) per tonne below the market average to secure orders. Now, he...Read More
Three-month prices for base metals on the London Metal Exchange were mostly lower at the close of trading on Thursday September 3, with positive unemployment data and services data from the United States doing little to stop an equities-led decline across the complex.A 4% downturn in LME nickel futures led that decline, and nickel's outright price on the LME was the laggard over Thursday afternoon...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view, including an upgrade to our aluminium price forecasts.Aluminium: Price forecasts raisedWe correctly expected the macro reflationary theme to raise the prices for all base metals but, with it being the base metal with by far the weakest fundamentals, we had expected the price of aluminium to underperform relative...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 3 that are worth another look.A month ago, Eric, a steel importer based in eastern China, was pricing hot-rolled coil imports 20-30 yuan ($3-4) per tonne below the market average to secure orders. Now, he...Read More
Chile produced 462,000 tonnes of copper in July 2020, a 5.1% year-on-year drop from 486,800 tonnes with several operations halted, notably Codelco's, national copper commission Cochilco said on Wednesday September 2.Despite the lower production in July, the year-to-date output for the country was still up year on year after seven months. Chile produced 3.29 million tonnes in January-July 2020, up...Read More
China's domestic stainless steel prices have risen for a tenth week amid a strengthening nickel market and good downstream demand.The three-month nickel contract on the London Metal Exchange ended Wednesday September 2's official trading session at $15,671 per tonne, up by $594 per tonne (3.9%) from $15,077 per tonne a week earlier.Fastmarkets' weekly price assessment for nickel pig iron, high-gra...Read More
After a consultation period, Fastmarkets has amended the frequency of its cobalt hydroxide index, min 30% Co, cif China to weekly. The cobalt hydroxide index, min 30% Co, cif China was published on the last working day of the month until the end of July, and has been published fortnightly since August 7. Fastmarkets has seen a sustained increase in spot activity for fixed-price, prompt cobalt hydr...Read More
Turkish steel mills have continued their deep-sea scrap purchases for September-October shipments at higher prices, sources told Fastmarkets on Thursday September 3.A steel mill in Northern Turkey booked a Baltic Sea cargo comprising 10,000 tonnes of HMS 1&2 (80:20) at $300 per tonne, 13,000 tonnes of shredded at $305 per tonne and 4,000 tonnes of bonus at $310 per tonne cfr late on Wednesday.Anot...Read More
China's latest amendment to its solid waste law took effect on Tuesday September 1 and its stricter enforcement of solid waste import rules could push up downstream aluminium alloy prices, market participants told Fastmarkets. The new law, aiming to have zero waste imports, not only set legal requirements for solid waste importers but also claims carriers will hold joint liability for smuggling so...Read More