China's domestic hot-rolled coil prices picked up on Wednesday May 6, the first working day after a five-day break for Labor Day, which sparked expectations for growing imports.DomesticEastern China (Shanghai): 3,320-3,340 yuan ($470-473) per tonne, up 40-50 yuan per tonneNorthern China (Tangshan): 3,310 yuan per tonne, up 60-70 yuan per tonneMajor spot markets saw active trading during the day, w...Read More
China's domestic rebar prices moved up on Wednesday May 6 after a five-day break for Labor Day amid a drop in spot market inventory levels and rising futures. Domestic Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, up by 20 yuan per tonne China's 20 biggest rebar markets had 8.31 million tonnes of the product at the end of April, down by 610,000 tonnes (6.8%) from April 20,...Read More
The London Metal Exchange three-month nickel price gained 2.4% on the previous day's close to hit a high of $12,295 per tonne during morning trading on Wednesday May 6, as China's return to market proved to be a tailwind for nickel demand and the metal's outright price.China's re-entry into the market at a time when the country is restarting its commercial activities is expected to bolster metals...Read More
Broader markets were mixed this morning, Wednesday May 6, while base metals prices on the London Metal Exchange were up across the board. Base metals prices on the Shanghai Futures Exchange were mixed following Chinese participants' return to the market after the country's Labor Day holiday (May 1-5).Asian-Pacific and pre-market western equity indices were mixed this morning.Markets should be brac...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Ailing silicon producer Ferroglobe will delay filing its 2019 annual report by up to six weeks as a result of the Covid-19 pandemic, the company announced last week."With the uncertainties created by the Covid-19 pandemic and potential implications for Ferroglobe's operating environment and financial results, the company continues to prepare financial scenarios for the near term, which its externa...Read More
A summary of stainless steel producer Aperam's results for the first quarter of 2020.In brief Sales, shipments and adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) were down year on year due to the coronavirus-driven downturn. The company reported a "seasonally normal...Read More
A summary of stainless steel producer Outokumpu's results for the first quarter of 2020. In brief Sales and deliveries decreased year on year because of the coronavirus pandemic and its effect on the market. Earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter increased on an annual comparison because...Read More
A summary of the financial results for Switzerland-based special and stainless steel producer Schmolz + Bickenbach (S+B) for the first quarter of 2020.In brief The company attributed the weaker quarterly results to the effects of the Covid-19 pandemic. A fragile market recovery, which started in early 2020, was interrupted by the pandemic. Geographically, all regions and countries suffered a doubl...Read More
A summary of Brazilian steelmaker Gerdau's financial results in the first quarter of 2020, as stated in its earnings report on Wednesday May 6.In brief Sales volumes and financial performance weakened year-on-year with all of the company's divisions affected by lower demand in the last 15 days of March due to the Covid-19 pandemic. The North America unit reported stronger results amid higher consu...Read More
Stainless steel prices in China were largely unchanged in the week to Wednesday May 6, with market participants in the country absent from May 1-5 for the Labor Day holiday. The lack of major price movements in the cost of nickel was another factor contributing to steady stainless steel prices, sources said.The three-month nickel contract on the London Metal Exchange has averaged $11,878 per tonne...Read More
????,?TIMESTAMPS ????,? 0:05 Highlights3:17 Official announcement3:44 Morrison fouling4:06 Foreman low blowing Morrison...4:51 ...and later apologizing for it5:00 Morrison faking5:13 Morrison turning his back on Foreman5:48 Running away from him...6:04 Jab contest?? " June 7th, 1993??"? Thomas & Mack Center, Las Vegas, Nevada ???????,???? 12,743????Foreman - 7 to 5 betting favorite"Big" George For...Read More
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Fog lifting on the recovery narrative.Tech stocks strong on hope.Government ready to sacrifice other businesses to save Boeing.Fed feeding the same BS from 2008 about unwinding stimulus.Financial stocks are the canaries in the coal mine, and they're dropping dead.National Debt passes 25 trillion dollars.RATE AND REVIEW the Peter Schiff Show Podcast on Facebook.https://www.facebook.com/PeterSchiff/...Read More
The Eva Copper Project is in Outback Queensland, Australia, pictured. (Stock image). Copper Mountain Mining has improved the economics of its Eva copper project in Queensland, Australia, with an updated feasibility study showing a longer mine life, increased production and lower cash costs.Compared with a feasibility completed in 2018, the new study has increased the mine life by three years to...Read More
Aurizona crusher Credit: Equinox. Equinox Gold has released the results of a preliminary economic assessment (PEA) on an underground development within its Aurizona mine site in northeastern Brazil.The early-stage study suggests a feed contribution of 2,800 t/d from the Piaba underground to the existing 8,000 t/d plant at the site. This incremental operation would deliver an additional 740,500...Read More
BGAN PTT Solution Credit: Inmarsat. Inmarsat, a world leader in global mobile satellite communications, and Cobham Satcom, a company focused on providing dependable communications and internet access, have launched a comprehensive new Broadband Global Area Network (BGAN) push-to-talk (PTT) solution to connect remote workers using vehicles across the globe.The solution provides real-time data tr...Read More
Image by Silvercorp Metals Inc. Silvercorp Metals (TSX: SVM) has achieved its fiscal 2020 production guidance for all metals at all operations, the company announced Thursday.After an extended shutdown of activities at its operations in China due to covid-19, the company was able to ramp up to full capacity in March in full compliance with government measures.For the year, the company beat its si...Read More
Image by ae?"??? ?(TM)^ from Pixabay. The back story on how China came to dominate the lithium-ion battery to electric vehicle (EV) supply chain by building capacity in metal refining, battery-grade chemicals production and cathode and anode making is being told via new data from Benchmark Mineral Intelligence. The data demonstrate China's share of global total production in 2019 for each stage...Read More