Turkish deep-sea scrap import prices have increased on a fresh transaction amid tightening supply and good demand, sources told Fastmarkets on Tuesday December 3.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $280 per tonne and 3,000 tonnes of bonus at $290 per tonne cfr. The cargo was scheduled for shipment in January.This compares...Read More
Vale plans to produce 49 million tonnes of iron ore pellet in 2020 by gradually restarting idled capacity throughout next year, the company's ferrous and coal director, Marcelo Spinelli, said this week.During the first half of 2020, the company will focus more on replenishing Chinese stocks of Brazilian Blend Fines (BRBF), which the company regards as the strategic basis for iron ore use in China,...Read More
Seaborne iron ore prices weakened on Tuesday December 3 amid losses in futures and rebar markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.31 per tonne, down $0.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.40 per tonne, down $0.14 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.20 per tonne, down $0.12 per tonne.58% Fe fines high-premium, cfr Qingd...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More
Participants in the seaborne coking coal market said they saw little room for prices to move significantly amid stable supply-demand drivers.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.86 per tonne, down $1.09 per tonnePremium hard coking coal, cfr Jingtang: $147.60 per tonne, up $0.97Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang:&...Read More
Vale has cut its iron ore production and sales target to 68-73 million tonnes from 70-75 million tonnes for the March quarter 2020, due to a reduction in operating rates for up to two months at its Brucutu mine.The company is to temporarily suspend tailings disposal at the Laranjeiras dam serving the Brucutu mine to assess the dam's geotechnical characteristics, the Brazilian miner said late...Read More
China's hot-rolled coil prices continued to gain on Tuesday December 3 despite slower trading, with supply remaining tight in the east of the country.DomesticEastern China (Shanghai): 3,740-3,750 yuan ($531-532) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,640-3,650 yuan per tonne, widening upward by 10 yuan per tonneA Shanghai-based trader said trading in the east of the...Read More
China's domestic rebar prices decreased on Tuesday December 3 amid bearish expectations for weakening demand but high output over the next two months. Eastern China (Shanghai): 3,990-4,020 yuan ($566-571) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,720-3,750 yuan per tonne, down 40 yuan per tonne December and January are seasonally weak months for rebar demand in mo...Read More
While the metal markets have hardly been bullish, United States President Donald Trump undermined confidence across broad markets when he re-imposed tariffs on steel and aluminium imports from Argentina and Brazil and threatened France with tariffs too.This has raised concerns that a US-China trade deal may be delayed, especially following Trump's signing legislation supporting protesters in Hong...Read More
Base metals prices on the Shanghai Futures Exchange were broadly down during the morning trading session on Tuesday December 3 after a pick-up in global trade tensions dampened market sentiment. On Monday, US President Donald Trump announced via a series of posts on social media platform Twitter that he was imposing new tariffs on steel and aluminium imports from Brazil and Argentina."Brazil and A...Read More
1. While some analysts are getting a bit negative in their outlook for gold, the physical market is getting stronger and that's very good news for investors. 2. Please click here now. I predicted that Indian jewellers would step into the market in the $1465 area, and that has obviously occurred.3. Given the onerous import duty, November demand in the official market was outstanding....Read More
1. While some analysts are getting a bit negative in their outlook for gold, the physical market is getting stronger and that's very good news for investors. 2. Please click here now. I predicted that Indian jewellers would step into the market in the $1465 area, and that has obviously occurred.3. Given the onerous import duty, November demand in the official market was outstanding....Read More
The US has warned of tariffs on French goods after hitting Brazil and Argentinian metal imports this week and yesterday president Donald Trump told reporters in London a trade deal with China may have to wait until after the US presidential election in November 2020.Despite yesterday's dip, the S&P500 was still up 23% in 2019, Bloomberg pointed out.Metals and mining stocks were 2.6% lower in T...Read More
The deal follows an October transaction that saw Osisko Metals acquire Karst Investments for US$8.5 million and two-million shares to snare an outstanding 3% NSR royalty on the project.The company will grant Osisko Gold Royalties a right of first offer on any future sales of royalties, streams or interests on Pine Point and a senior secured interest and first-priority mortgage on the project as co...Read More
These demand drivers, as well as the rising global need for ferrous metals, industrial minerals and fuel-ore mining was driving market revenues toward US$2.9 billion by 2025, a compound annual growth rate of 6.7% from 2018, the Santa Clara, California-based consultancy said.The firm said mining chemical manufacturers were increasingly developing and integrating digital technologies to boost applic...Read More
CEO Ivan Glasenberg, 62, had flagged then confirmed plans he was nearing the end of his tenure about 12 months ago. At the time, he said he hoped to find a successor before he turned 65.He told investors yesterday the company would meet in early 2020 to talk about a change in its "old guard," the Wall Street Journal reported. "I don't want to be an old guy running this company—and soon...Read More
Compa??ia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) is Peru's largest, publicly traded, precious metals company and a major holder of mining rights in Peru. Buenaventura currently operates several mines in Peru: Tambomayo, Orcopampa, Uchucchacua, Julcani - all wholly owned, as well as joint ventures: El Brocal, La Zanja and Coimolache. Buenaventura owns 43.65% of Minera...Read More
Yesterday, after the Senate confirmed him as the next energy secretary, Dan Brouillette said that Trump told him to figure out a way to boost coal.So basically, the president has instructed someone in his administration to intervene in energy markets - once again - to try to breathe life into something that is no longer economically relevant.The flood of natural gas and rapid integration of renewa...Read More
We've come to that special time of year again.. Energy and Capital editor Keith Kohl digs into the OPEC+ meeting that is set to take place tomorrow and questions whether the choice to cut or pump oil has already been made.For most, the month of December conjures images of stockings, trees, and presents.I think of OPEC.Around this time every year, its members get together and coordinate with one an...Read More
Dave Kranzler, Mining Stock Journal"The Fed first tried to justify the loans by saying they were a short-term measure to stem a liquidity crisis. But the so-called "liquidity crisis" has not prevented the stock market from setting new highs since the loan operations began on September 17. And the short-term operation has been running every business day since that time and is currently scheduled...Read More