Domestic scrap prices in Turkey remained stable over the past week in line with static scrap import values, sources said on Monday July 13.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,660-1,870 lira ($242-273) per tonne on Monday, unchanged week on week. Only one steel...Read More
Seaborne iron ore prices surged on Monday July 13 amid active trading on the platforms and strong gains in the iron ore futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $111.09 per tonne, up $4.77 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $112.85 per tonne, up $4.55 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $99.18 per tonne, up $4.35 per tonne. https://w...Read More
Seaborne premium hard coking coal prices edged downward on Monday July 13 on the influence of recent deals, but there was no activity in the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.49 per tonne, down by $0.54 per tonnePremium hard coking coal, cfr Jingtang: $123.11 per tonne, down by $1.69 per tonneHard coking coal, fob DBCT: $93.66 per tonne, down by $0.17 per tonneHard...Read More
Australia's three main coal terminals in Queensland, including Hay Point Coal Terminal (HPCT), Dalrymple Bay Coal Terminal (DBCT) and Abbot Point, exported a total of 12.2 million tonnes of coal in June 2020. According to statistics from the North Queensland Bulk Ports (NQBP) authority, which controls all three ports, exports from HPCT reached 5.2 million tonnes in June, up by 10.8% month on month...Read More
Copper futures in London and Shanghai soared in early morning trading on Monday July 13 after miners in Chile declared they would strike over wages, Fastmarkets understands.Unionized workers at Antofagasta's Zaldivar mine voted to strike - scheduled for Wednesday July 15 - with 99% of members rejecting a pay offer, Reuters reported. As per Chilean law, the government must mediate between the parti...Read More
Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.US earnings seasons starts this week, so expect a pick-up in volatility......expectations are for bad results, but the market's reaction will depend on how bad they are. Base metals Three-month base metal...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...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 assessed cobalt standard grade, in-whs Rotterdam...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended on Friday June 10.Europe Prices fell by nearly 5% for both grades with suppliers cutting offer prices and doing deals well below the previous range. During the week, there were slightly more bids reported from traders in comparison with the very quiet previous months, while producers showed no resistance...Read More
UC Rusal's credit may suffer from a $2.1 billion fine imposed on Nornickel, almost 28% of which is owned by Rusal, Fitch Ratings said.A drop in dividends Rusal normally receives from Nornickel coupled with weak aluminium markets through 2021, could see Rusal becoming further indebted, the credit rating agency said on Thursday July 9. Fitch based its scenario on Nornickel paying in full this year t...Read More
Spot payables for cobalt hydroxide consolidated at four-month highs last week, with support from sellers' continued cautious approach to additional sales outside long-term agreements. Fastmarkets' cobalt hydroxide payable indicator min 30% Co, cif China held at 66-68% on Friday July 10, its highest level since March 11 (taking the mid-point of the range). Short-lived border closures in Africa, on...Read More
Stainless steel prices in the United States edged up in July on higher surcharges, although the uptrend was partially offset by some service centers obtaining lower prices on larger purchases from mills said to be unloading inventory. Demand also rose modestly, with some service centers reporting strong surges in demand that began at the end of June.Fastmarkets' price assessments for stainless ste...Read More
The TSX had been hanging around all-time highs when the first TSX 30 was announced. Last year’s inaugural recognition program brought strong-performing names to the fore during a record bull run. While the average investor usually looks at the top 20-30 names, the TSX 30 showcased ways to diversify a portfolio with less well-known businesses.With an average 329% share price appreciation in t...Read More
It might be pushing the limits of pro-activeness, but it’s never too early to think about taxes, especially if you are self-employed. If you hit a rough patch during the pandemic and had to receive CERB payments, remember that they are taxable as well, and that CRA will take its cut in next year’s taxes.It goes without saying, but if you have received CERB despite being ineligible, it&...Read More
Victoria Gold Corp.'s Eagle Gold Mine. Credit: Victoria. After declaring commercial production at the Eagle mine in Canada's Yukon Territory earlier this month, Victoria Gold has provided production guidance for the second half of this year - it expects to generate 85,000 oz. to 100,000 oz. of gold in the last two quarters at all-in sustaining costs of $950 to $1,100 per oz."Achieving commercia...Read More
Nature reserve at the Cobre Las Cruces mine. (Photo by First Quantum Minerals) Putting nature above business considerations has the potential to generate 395 million jobs and $10.1 trillion in business opportunities by 2030, the latest report by World Economic Forum (WEF) suggests.Unprecedented job losses and economic uncertainty following the outbreak of covid-19 have governments looking into wa...Read More
Island Gold mine - Image courtesy of Alamos Gold Alamos Gold has released exploration results from its Island Gold mine in Ontario, which extend high grade areas at the Island East and Main zones, as well as at Island West.The majority of the notable intercepts in the latest release are from the E1E zone and confirm the vertical continuity of this area over up to 1.2 km, between depths of 300 me...Read More
The camp at Klaza. Image from Rockhaven. An updated preliminary economic assessment (PEA) for Rockhaven Resources' wholly owned Klaza project in the Dawson Range gold belt in Canada's Yukon Territory outlines a 12-year, combined open-pit and underground operation producing gold and silver dor?(C) as well as lead and zinc concentrates.With total payable metals production of 750,000 oz. of gold a...Read More
The Marmato project is located in the Caldas department in the heart of the Middle Cauca gold district, a region that has been exploited since pre-Colonial times by the Quimbaya people.(Image courtesy of Gran Colombia) Caldas Gold (TSXV: CGC) is raising aggregate gross proceeds of C$45 million (about $33m) after coming into agreement with a syndicate of underwriters led by Scotiabank and Canaccor...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comJuly 14, 2020 The big question about America is how much more money the Fed can print while the government runs a program of borrowing money to infinity... before hyperinflation turns the fading empire into a fire pit. The debt-themed empire is in tatters already, but it has yet to become...Read More