Canadian regulators have given Endeavour Mining (TSX: EDV) the go-ahead for the acquisition of smaller rival Semafo (TSX: SMF), which would create West Africa's top gold producer.The Minister of Innovation, Science and Industry, said Endeavour, determined there was no need for a national security review of the $1 billion (US$732 million) deal, announced in March this year.Both companies' boards an...Read More
Prices for bulk cargoes of steel scrap imported to South Korea fell sharply in the week to Friday June 26 amid a decline in Japanese offer prices, sources told Fastmarkets.High prices for Japanese cargoes had forced Korean mills to procure scrap from Russia and the United States in recent weeks. One mill purchased 32,000 tonnes of HMS 1 scrap from the US West Coast on June 12 for $282 per tonne cf...Read More
Import prices for containerized ferrous scrap in Taiwan softened this week with buyers slowing down their purchases ahead of the Dragon Boat Festival on Thursday and Friday, which reduced the number of working days.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $245 per tonne on Friday June 26, unchanged f...Read More
Import prices for ferrous scrap in Vietnam trended downward during the week to Friday June 26 despite steady demand among buyers.A transaction involving a bulk cargo of Japanese H2 scrap was heard to have been concluded at $265 per tonne cfr southern Vietnam on Tuesday, but by the end of the week, another 5,000 tonnes of the same grade of steelmaking raw material changed hands at $253 per tonne cf...Read More
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If you hold metal stocks — or anything tangentially related to manufacturing — you may want to turn on the news. Metal tariffs are back on the agenda as the Trump Administration seeks to curb Canadian exports. Investors should keep an eye on stocks with exposure to cross-border trade in aluminum, and, to a lesser extent, steel. Value opportunities could also be forthcoming in unaffecte...Read More
Gold surged on Mondayafter a spike in coronavirus cases worldwide dashed hopes of a quick economicrecovery. Within 24-hours the number of infections globally rose 183,020, a newrecord, the World Health Organization reported, Reuters said the US saw a25% increase in new COVID-19 cases over the week ending June 21st. Spot prices tradedsharply higher, reaching a five-week high, before closing a...Read More