Domestic auto bundle scrap prices in the Turkish market have weakened further, although slightly, over the past week in response to the fall in imported scrap values, sources said on Monday February 3.Turkish deep-sea scrap import prices have declined by around $10 per tonne, after a deal heard on January 29 for a United States cargo containing 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cf...Read More
Seaborne coking coal prices were down on Monday February 3, although trading activity was relatively muted with participants awaiting Chinese buyers' next moves to gauge market direction.Fastmarkets' indicesPremium hard coking coal, fob DBCT: $150.79 per tonne, down $1.50 per tonnePremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per tonne, unc...Read More
Seaborne iron ore prices fell on Monday February 3 amid fears of weakened demand caused by an expected slowdown in China's construction sector.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $80.38 per tonne, down $4.56 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $79.42 per tonne, down $4.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.61 per tonne, down $4.94 per tonne.58%...Read More
The direct-reduced (DR) iron pellet premium has reduced in contracts for shipments in the first quarter 2020 mainly on a weak scrap market and pessimistic buyer mood, sources told Fastmarkets. Fastmarkets' assessment of the iron ore DR-grade pellet premium, Middle East reference was $31 per tonne on Friday January 31, down from $39 per tonne on December 31."The scrap market's weak again...Read More
Sellers of Turkish rebar tested the Singapore market over the past week by issuing lower offers to the republic after the Lunar New Year holiday.They offered cargoes at $450-455 per tonne cfr to the Southeast Asian country. No other offers for cargoes of other origin were heard.Participants were largely just returning to the spot market during the week and were not actively looking to purchase mat...Read More
Global scrap prices fell last week due to weak downstream demand and market jitters following the outbreak of the Wuhan coronavirus in China. Turkish import prices slide on weak downstream demandUnited States' ferrous scrap export prices tumble in latest dealsTaiwan import prices dip on virus jittersIndian import prices dip in line with international pricesTurkeyTurkish imported ferrous scrap pric...Read More
China's hot-rolled coil sellers lowered their offers significantly on Monday February 3, the first day after the country's Chinese New Year break, amid bearish sentiment triggered by a virus outbreak.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($523-526) per tonne, down 230 yuan per tonneNorthern China (Tangshan): 3,300 yuan per tonne, down 290 yuan per tonneA Shanghai-based trader told Fas...Read More
Rebar offers in eastern China dropped sharply on Monday February 3, the first day of work after the Chinese New Year for some market participants, amid sustained fears over the novel coronavirus in the country.Eastern China (Shanghai): 3,400-3,450 yuan ($490-497) per tonne, down 220-240 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedA handful of sellers in the eastern...Read More
The impact of the coronavirus outbreak from Wuhan city, China, is positively affecting antimony prices in Europe, with low stocks in Rotterdam and the market heavily dependent on supply from China.The East Asian country accounts for 78% of global antimony output, according to the United States Geologic Survey (USGS). Fastmarkets assessed the price for antimony max 100 ppm Bi, in-whs Rotterdam at $...Read More
Cobalt prices held on to their recent gains on Monday February 3, finding support because of the limited supplies of readily available material.Fastmarkets' inaugural daily price assessments on February 3 for cobalt standard grade, in-whs Rotterdam, and cobalt alloy grade, in-whs Rotterdam, were unchanged at $16.50-16.90 per lb and $17.40-17.80 per lb respectively. The previous assessments were on...Read More
Fastmarkets MB today launched daily publication for its benchmark price assessments for standard and alloy-grade cobalt, in-whs Rotterdam. Folllowing a consultation period in 2019, Fastmarkets has launched daily price assessments for cobalt standard grade, in-whs Rotterdam, $/lb and cobalt alloy grade, in whs Rotterdam $/lb. The increase in frequency is intended to provide greater transparenc...Read More
Despite mining's contribution to almost every aspect of modern life, the industry is still seen as one that takes more than it gives, which has brought it to the reputation crisis it faces today, Anglo American's (LON: AAL) chief executive officer, Mark Cutifani, said on Monday."We need to connect the future of mining with next-generation societal values," Cutifani told delegates at African Mining...Read More
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Are gold miners poised to begin a long period of outperformance against gold?2. I've argued that most gold stocks peaked against gold bullion in 2006. GDX $31 and GDXJ $46 are my "launchpad" numbers for a major new bull run, a run that could last for decades.3. Please click here now. Schroders fund manager James Luke believes the miners peaked in 2005.4. He argues that the comp...Read More
Gold has rallied sharply since the start of 2020 gaining 2% to be trading at around US$1,550 per ounce. There are signs that the yellow metal will make further gains during 2020, particularly as uncertainty grows and economic as well as geopolitical risks worsen.Rising fearA key risk weighing on stocks and supporting gold is the coronavirus outbreak. This is because there are very real concerns th...Read More
The TSX Index had a big year in 2019, with strong gains coming from a number of sectors.This has made it a bit more difficult to find deals in the Canadian stock market, but there are a few top companies that didn’t participate in the rally last year and appear cheap right now for buy-and-hold investors.Let’s take a look at one oversold dividend stock that might be an interesting pick...Read More
Unlisted funds raised 12 times the amount for farmland versus mining investments. Image: Soligorsk, Belarus , Adobe stock. According to a new report by private capital tracker Preqin, fundraising for mining and metals investment slowed dramatically in 2019, falling to an eight year low. Aggregate capital raised to invest in farmland was 12 times that of mining, doubling from 2018 to $3.6 billio...Read More
Barrick's Kibali mine, Democratic Republic of Congo. Image from Rangold Resources. Global gold production is likely to keep falling, Barrick Gold (NYSE: GOLD TSE: ABX) boss Mark Bristow said on Tuesday. Bristow spoke at African Mining Indaba in Cape Town, the continent's biggest gathering of one of its most vital industries. In mid-January, the world's second-largest gold miner announced pr...Read More
The ????pler mine in eastern Turkey. Image by Alacer Gold Alacer Gold (TSX: ASR) (ASX: AQG) on Tuesday released its operating and financial results for the full-year ended December 31, 2019. The company had an "exceptional" year in 2019, generating more than $215 million in unlevered cash flow.With its operating foundation set as an intermediate producer, Alacer's focus for 2020 is to continue to...Read More