Global scrap prices trended upward in the week to Friday December 20 on higher offer prices and limited supplies.Turkish import prices steady on limited trades United States export prices up on recent Turkish sales Vietnam, Taiwan import prices rise on higher offers Indian import prices up on tight supplies Turkey Turkish imported ferrous scrap prices were largely stable this week,...Read More
The inter-merchant spot price for light iron scrap in the United Kingdom was steady in the week ended Friday December 20, consolidating gains of ?15 per tonne made over the month.A solid increase in European steel scrap export prices has been support to the British market.The UK market, both on an inter-merchants level and to steel mills, has been strengthening over the fourth quarter - exporters...Read More
The price of ferrous scrap imported into India increased this week as traders hold on to their material in the hope of achieving higher sales in January, sources told Fastmarkets on Friday December 20.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $296.05 per tonne on Friday, up from $290.75 per tonne a week earlier.Deals were heard for shredded at $290 and $300 per tonne f...Read More
Turkish steel producers have continued to stay out of deep-sea scrap markets at the end of the week to focus on finished steel sales, sources said on Friday December 20.The mills have booked several cargoes in the previous weeks for January and February shipments and went quiet earlier this week in response to rising offers, Fastmarkets was told.Turkish producers booked two deep-sea cargoes at the...Read More
Seaborne iron ore prices fell across the board on Friday December 20 amid fresh emergency pollution curbs imposed in the steelmaking hub of Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.63 per tonne, down $2.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.72 per tonne, down $2.14 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.46 per tonne, down...Read More
Seaborne cargoes of premium hard coking coal were sold to China below prevailing prices on Friday December 20.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.78 per tonne, up $1.66 per tonnePremium hard coking coal, cfr Jingtang: $147.47 per tonne, down $0.66 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $134.99 per tonne, unchangedLow...Read More
Export prices for Chinese hot-rolled coil prices rose further on Friday December 20 despite a stable domestic market amid increased buying in South Korea and Pakistan.DomesticEastern China (Shanghai): 3,870-3,880 yuan ($552-553) per tonne, unchangedNorthern China (Tangshan): 3,640 yuan per tonne, unchangedTrading remained moderate in the domestic market, amid relatively low inventory levels.Most m...Read More
Base metals prices on the Shanghai Futures Exchange were split into two camps during the morning trading session on Friday December 20, with nickel outperforming the rest of complex with a 1.2% gain.The most-traded March nickel contract rose to 112,110 yuan ($15,995) per tonne at the close of the morning trading session, up by 1,330 yuan per tonne from Thursday's close of 110,780 yuan per tonne.Th...Read More
An overview of the minor metals markets and their latest price moves.Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The price of stainless steel flat products was unchanged in Europe this week - participants expect this stability to remain in place until at least the first week of January, during which time the market will be largely shut for the holiday season, they told Fastmarkets on Friday December 20.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction dom...Read More
The prices of austenitic grades of stainless steel scrap were largely unchanged this week - participants noted that any increase in the cost of nickel will be balanced out by the stronger pound against the dollar, they told Fastmarkets on Friday December 20.Fastmarkets' assessment of the stainless steel scrap 316 solids, domestic, delivered merchants UK price was ?1,120-1,180 ($1,463-1,541) per t...Read More
Ferrous scrap prices in Asia are showing mixed signs in the lead up to the year-end vacation period of Christmas and New Year. Taiwanese buyers have eased purchases amid expectations of more stable prices in the near term once sellers in the United States stop business activities. However, Vietnamese buyers have been paying higher for purchases of both Japanese and American scrap. Vietnam Fastm...Read More
As markets are rolling into the holiday season, Friday saw Canada’s main stock index edge higher. This comes right after news from China about cancelling tariffs, which is scheduled to take effect on Sunday and an agreement on the first phase of a trade deal between US and China. At 09:47 a.m. ET (14:47 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 11.06 points...Read More
Eric Sprott, the Canadian billionaire investor who has made his fortune by investing in gold and junior mining stocks, has been on a buying spree this year. Between May and July 2019, he had invested more than $139 million in 17 gold, silver, and nickel stocks. Gold is an attractive asset during economic slowdown. Here’s a look at Mr. Sprott’s recent investments to help inform your se...Read More
Aston Bay Holdings Ltd. (TSX-V: BAY; OTCQB: ATBHF) https://astonbayholdings.com/ is exploring for gold and base metal deposits in Virginia, USA, and Nunavut, Canada. We learned from Thomas Ullrich, CEO of Aston Bay, that their original flagship project is the Aston Bay property, located up in Nunavut, where they are looking to discover some very high-grade copper and zinc deposits. The company's c...Read More
Maurice Jackson of Proven and Probable discusses future plans with this copper company's senior VP of Operations. Maurice Jackson: Joining us for a conversation is David Swisher, the senior vice president of operations for Nevada Copper Corp. (NCU:TSX; NEVDF:OTC). We're delighted to speak with you on this historic day, as Nevada Copper has just accomplished a watershed moment that now puts the co...Read More
Agreements are for one lease, one option and two sales deals. Quaterra Resources Inc. (QTA:TSX.V; QTRRF:OTCQX) announced in a news release that its subsidiary, Six Mile Mining, signed two agreements for the right to purchase the 678 unpatented mining claims on the Butte Valley prospect in Nevada."With these agreements we have the opportunity to acquire a strategic land position over the Butte Val...Read More
The company will start the work there in either late winter or early spring 2020. Nexus Gold Corp. (NXS:TSX.V; NXXGF:OTCQB) intends to commence a phase 1 drill program in Q1/20 at its McKenzie gold project in Red Lake, Ontario, it announced in a news release.To follow Nexus' completed prospecting efforts at McKenzie, the campaign will include 1,000 meters of diamond drilling in late winter-early...Read More
Twenty years...Twenty years have lapsed since The Daily Reckoning first jumped from the presses.Thursday night we attended a black tie affair in honor of this, its china anniversary.Our hosts were Daily Reckoning co-founders Messieurs Bill Bonner and Addison Wiggin (here pictured, both bespectacled):Your humble editor even consented to the dress code - under violent protest:The publication you pre...Read More