Demand for seaborne iron ore concentrate and pellets fell last week amid a stagnant steel market in China due to the outbreak of the novel coronavirus (2019-nCoV) in the country.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $99.07 per tonne last Friday February 7, down by $3.54 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65...Read More
China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonneA Shanghai-based trad...Read More
China's domestic rebar prices were mixed on Monday February 10, with those in the eastern region holding steady while the northern Chinese market tumbled on weak demand.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,460-3,480 yuan per tonne, down 80 yuan per tonneAfter an extended break implemented by local authorities to contain the spread of...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday February 8.Key driversChina Fastmarkets' assessment of the price of antimony, MMTA standard grade II, ddp China was unmoved following a lack of liquidity and absent market participants after the Chinese New Year holiday break was extended (January 24-February 2). Many suppliers stayed out of the market in the week to Febru...Read More
Minor metals producer Vital Materials has acquired specialty chemicals company Lanxess' organometallics business, Vital said on Friday February 7. The plant located in Pyeongtaek, South Korea, produces high-purity gallium, indium and aluminium-based metalorganic sources including trimethylgallium, trimethylaluminum, triethylgallium and trimethylindium. The organometallics are used for the manufact...Read More
Swiss miner-trader Glencore has signed a five-year deal - from 2020 until 2024 - to supply South Korean battery manufacturer Samsung SDI with 21,000 tonnes of cobalt contained in hydroxide, Glencore said on February 10.Glencore produces cobalt hydroxide at its Katanga mine in the Democratic Republic of Congo (DRC) - slated to produce about 29,000 tonnes of cobalt in intermediates this year. Glenco...Read More
The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.There is still much uncertainty around the impact of the Wuhan coronavirus (2019-nCoV), but with more businesses returning to work in China this week, we might get a better feel for...Read More
Xiamen Xiangyu Group and Jiangsu Delong Nickel Industry Co's Indonesian stainless steel joint venture last week began hot tests on production facilities with the capacity to produce grade-304 stainless steel billet at a rate of 600,000 tonnes per year. The company, which is officially known as PT Obsidian Stainless Steel,...Read More
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Interested in becoming a partner?Warrior Notes has an all-new digital Partner program for 2020! New Partner Benefits include:Monthly email newsletter with a personal letter from Kevin and Kathi, news, upcoming events and special offersAccess to exclusive programming on the Warrior Notes TV app ($20/month average minimum donation)Access to an exclusive Partner page with free digital downloadsWarrio...Read More
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To view the only virus more concerning than Corona, please click here now. The global government debt virus!In America, the government's debt to GDP ratio is now three times the level it was when Ronald Reagan got elected. Simply put, Donald Trump doesn't have the wiggle room that "Jellybean Ron" did... to ramp up debt, produce GDP growth with that debt, and then claim all the growth came fro...Read More
A bear market is coming – and it’s going to be a nasty one. We know this because the bull run we’re still riding out has broken the record for longevity and investors now have much farther to fall than last time. But what we don’t know is when the bear will awaken. However, whatever goes up must come down, as the saying goes.So how should Canadian investors get ready for a...Read More
MINING.COM, in partnership with The Northern Miner and Canadian Mining Journal today launched the new On the Move newsletter. A complimentary service, this new monthly publication will track management and board appointments across Canada's mining and mineral exploration industry. Each month, we'll also highlight the achievements of companies and individuals in the sector in our "Awards and Acc...Read More
Credit: Micromine Micromine, a mining software solutions provider, has released a new geological data management software, Geobank 2020.The release features significant additions and modifications to the popular software product, which makes data management simpler and more efficient for geologists and engineers and has been designed in collaboration with clients and end users.Geobank 2020 has be...Read More
Eskay Creek gold project Credit: Skeena Infill results from Skeena Resources' Eskay Creek property within British Columbia's Golden Triangle continue to return high grade intersections and confirm the mineral resource limits.Drill highlights include:31.3 metres of 14.82 g/t gold-equivalent from the 21A zone;18.3 metres of 15.96 g/t gold-equivalent, also from the 21A zone; and21 metres of 6.24 g/t...Read More
Kumtor gold mine. (Image courtesy of Centerra Gold) Centerra Gold produced 783,308 oz. of gold last year, beating its prior guidance of 730,000 oz. to 765,000 oz. with both the Kumtor and Mount Milligan mines exceeding targets.All-in sustaining costs, to be released at the end of March, are expected below the guidance range of $713 to $743 per oz. A total of $50 million allocated for exploration...Read More
To view the only virus more concerning than Corona, please click here now. The global government debt virus!In America, the government's debt to GDP ratio is now three times the level it was when Ronald Reagan got elected. Simply put, Donald Trump doesn't have the wiggle room that "Jellybean Ron" did... to ramp up debt, produce GDP growth with that debt, and then claim all the growth came fro...Read More