Minsur, a Peruvian mining company, operates the San Rafael underground tin mine in Peru. In 2015, the mine contributed an estimated 6% of the world's total tin production. That year, Minsur initiated activities to safeguard the future value of its asset, addressing challenges such as declining head grades and tackling operating costs.It undertook an ore sorting project aimed at improving productiv...Read More
Fruta del Norte, discovered in 2006, is one of the world's biggest recent gold findings. (Image courtesy of Lundin Gold) Lundin Gold (TSX: LUG) reported Thursday afternoon that ramp-up to commercial production is on schedule and on budget at its Fruta del Norte gold project in southeast Ecuador, the country's largest. A total of 28,678 ounces of gold were produced by the end of 2019.Of the total...Read More
Gold is emerging from a dark period. Tolima gold mask from Gold Museum in Bogota, Colombia. On Thursday, gold was retreating further from near seven-year highs reached Tuesday, but even gold bugs probably aren't complaining (not too much anyway) about a price in the mid-$1,500s, the highest since March 2013.The extent of gold's rally caught most market watchers by surprise. Hedge funds speculatin...Read More
Official White House photo by Shealah Craighead. Canada and the US announced Thursday they have finalized the Canada-US Joint Action Plan on Critical Minerals Collaboration, aimed to advance the countries' mutual interest in securing supply chains for the critical minerals needed for manufacturing sectors, communication technology, aerospace and defence, and clean technology. Of the 35 minera...Read More
The three-month zinc price on the London Metal Exchange had declined at the close of trading on Thursday January 9, dipping below nearby support levels after a fresh inflow of 1,500 tonnes into Singapore capped momentum gained earlier in the week.Zinc's outright price on the LME closed at $2,377 per tonne this afternoon, dipping back below nearby resistance after reaching an intraday and two-month...Read More
Key data from the price assessment on Thursday January 9. Fastmarkets assessed the aluminium P1020A premium, in-whs dup Rotterdam at $95-100 per tonne on Thursday, up from $90-100 per tonne the day before and from $85-95 per tonne at the beginning of January.Key drivers:Supply for P1020 in Rotterdam, and other European ports, is tight, especially for certain shapes or other specifications. Alumini...Read More
There has been a flurry of buying activity in the Chinese alumina market at the start of January, supporting the benchmark alumina price above $270 per tonne. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $277.36 per tonne on Thursday January 9, up from $275.77 per tonne on Wednesday. The index has traded between $275 and $277 per tonne since December 27. Key driv...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 9 that are worth another look.The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.Mining and trading company Mitsui is ceasing copper concentrate blending in South Korea,...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 9 that are worth another look.The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.Mining and trading company Mitsui is ceasing copper concentrate blending in South Korea,...Read More
There has been a flurry of buying activity in the Chinese alumina market at the start of January, supporting the benchmark alumina price above $270 per tonne. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $277.36 per tonne on Thursday January 9, up from $275.77 per tonne on Wednesday. The index has traded between $275 and $277 per tonne since December 27. Key driv...Read More
The Chinese alumina price recently reached a floor and began entering into a rebound on the spot market, however, excess market supply has limited the uptrend, market participants said."The bearish news of large quantities of imported material continuing as well as an oversupplied domestic market have been digested by the market already so we assume the price will enter an upward trend from now on...Read More
Fastmarkets will publish its price assessments for standard and alloy-grade cobalt, in-whs Rotterdam, on a daily basis from Monday February 3, 2020.Join members of Fastmarkets' editorial and pricing team for a discussion on the results from its recent consultation on cobalt pricing frequency, insights from Fastmarkets' pricing database and details on the practicalities of daily cobalt pricing. Cli...Read More
Trader and consumer restocking sent prices for cobalt metal higher on Wednesday January 8, with firmer Chinese equity markets, salts prices and raw material payables also underpinning sentiment. Fastmarkets assessed the price for cobalt standard grade, in-whs Rotterdam at $15.55-16.50 per lb on Wednesday, up 2.4% from Friday. The cobalt alloy-grade, in-whs Rotterdam price was marginally...Read More
Turkish steel producers have broken their silence in the deep-sea scrap markets after a mill in the Marmara region bought a European cargo, sources said on Thursday January 9.The mill booked the European cargo - comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 15,000 tonnes of bonus at an average price of $300 per tonne cfr - late on Wednesday January 8. .....Read More
China has granted allowances for 3,180 tonnes of ferrous scrap imports in the second round of import quotas issued by the China Solid Waste & Chemicals Management Center on Wednesday January 8. This represents a more than four-fold increase from the previous ferrous scrap quotas which totaled 610 tonnes issued in October 2019. The first round of import quotas for 2020, announced at the end of Dece...Read More
If you ask an executive at your local mill in the United States which way prices will go in 2020, they will probably tell you nowhere but up.That would not be incorrect. Between late October and the end of last year, US steel mills rolled out four price increases totaling at least $150 per ton ($7.50 per hundredweight). And prices have since risen steadily.Fastmarkets' daily steel hot-ro...Read More
Canadian spodumene producer Nemaska Lithium's filing for bankruptcy protection could be a bellwether moment for spodumene producers searching for capital while lithium prices continue to fall, making upstream investment seem unattractive, market sources have told Fastmarkets.The Canadian junior miner filed for bankruptcy protection on December 23 last year to provide it with more time to seek refi...Read More
The flat-rolled steel import market was mixed on Wednesday January 8, with some products rising sharply due to gains in the domestic market while others were quiet following no immediate improvement in steel demand after the December holiday lull, market participants said.Entering the first full work week following the Christmas and New year holiday break, a number of domestic steelmaker...Read More
Hot-rolled coil prices in the United States have remained solidly above $30 per hundredweight ($600 per short ton) following a fifth round of mill price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.48 per cwt ($609.60 per ton) on Thursday January 9, down modestly from $30.54 per cwt on Wednesday January 8 but up by 5.1% from $28.99 per cwt a week...Read More
The World Trade Organization has made a final ruling that the Moroccan authorities violated parts of the WTO's Anti-Dumping Agreement in its imposition of tariffs on hot-rolled coil imports from Turkey.The WTO panel findings included the fact that Morocco failed to conclude its investigation within the 18-month maximum time limit and failed to inform all interested parties...Read More