Dramatic inflows of lead stock into London Metal Exchange warehouses this week have challenged the market notion of physical tightness following a suspension at Nyrstar's Port Pirie smelter, which has been cited as the key driver of a recent surge in the lead price. Total LME lead stock soared to 79,050 tonnes as of Wednesday July 31, up 42.5% from Monday's 55,475 tonnes. There were significant de...Read More
OceanaGold (TSX: OGC; ASX: OGC) has suspended underground mining at its Didipio gold-copper mine on the island of Luzon in the Philippines due to restraints imposed by the provincial government of Nueva Vizcaya.Local government units have impeded access to the mine since July 1, after the governor of the province issued a directive to "restrain any operations" of the company. The actions began tha...Read More
Domestic hot-rolled coil prices in China edged up on Wednesday July 31 while pessimism grew in the export segment following days of sparse trading.DomesticEastern China (Shanghai): 3,830-3,840 yuan ($557-558) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,820 yuan per tonne, up 10 yuan per tonneSpot prices rebounded in line with gains in the futures market in the morning. In the after...Read More
China's rebar prices were flat in both the domestic and export markets on Wednesday July 31, with demand being reported as steady but weak.Domestic Eastern China (Shanghai): 3,920-3,940 yuan ($569-572) per tonne, unchangedNorthern China (Beijing): 3,830-3,850 yuan per tonne, unchangedRebar futures picked up in the morning before retreating in the afternoon, but the early gains failed to stimulate...Read More
World manganese ore supply reached only 1.66 million tonnes in June 2019, down by 3.4% year-on-year, according to the International Manganese Institute.June supply rose by slightly less than 1% compared with May, according to figures from IMnI's latest research, published on Wednesday July 31.Supply from Africa and the Middle East came to 951,000 tonnes, up by 10% year-on-year but down by 3% compa...Read More
Key data from Fastmarkets' Wednesday July 31 pricing session in Europe: Key drivers Tightness of availability on a spot basis and an increase in buying inquiries for August and September have encouraged suppliers to hold their offer prices around the top end of the current range, while UK producer FE Mottram has yet to restart production after a fire damaged its plant in April. The all...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 31:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,200 per tonne from $5,950-6,150Bismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.80-2.95 per lb from $2.75-2.90Cobalt alloy grade,...Read More
A fresh wave of stockpiling activities boosted the Chinese cobalt metal spot market price on Wednesday July 31. Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 222,000-232,000 yuan per tonne ($12.83-13.53 per lb, minus China VAT) on Wednesday, up 0.9% from 220,000-230,000 yuan per tonne on July 26. Renewed speculative buying this week was prompted by a combination of an ea...Read More
Chinese subsidy reforms will cool down the electric vehicle (EV) market and weigh on battery demand in the second half of 2019, Umicore chief executive officer Mark Grynberg said in a conference call on Wednesday July 31.The Belgian battery raw materials producer maintained a forecast for stable or falling income in 2019 when it reported its results for the first half of the year on Wednesday. Pro...Read More
Glencore expects to report earnings before interest and tax (Ebit) losses within its marketing department of $350 million for the first half of 2019 due to a sharp drop in cobalt prices. The trader-miner cited a 58% year-on-year drop in cobalt prices in the first half of 2019, referencing Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam, which averaged $17 per lb in the fi...Read More
Fastmarkets on Wednesday July 31 launched weekly export price assessments for stainless steel cold-rolled coil, grade 304 (2mm), fob China, $/tonne and stainless steel hot-rolled coil, grade 304, fob China, $/tonne.The launch of these assessments following a month-long consultation reflects China's status as a major exporter of stainless steel. They will serve as important benchmarks for the inter...Read More
Glencore has cut its ferro-chrome production guidance for 2019 by 10% to 1.48 million tonnes as part of its extended winter shutdown, the company said on Wednesday July 31. The trader-miner had already reduced its output guidance by 50,000 tonnes to 1.64 million tonnes in April due to "additional maintenance and extended winter shutdowns, amid reduced power availability/challenges in South Af...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday July 31:Aluminium scrapGroup 1 pure 99% & litho, delivered consumer UK, ?/tonne: ?1,280-1,320 per tonne from ?1,260-1,300Clean HE9 extrusions, delivered consumer...Read More
Hey guys and gals,-CHECK OUT OUR NEW WEBSITE-www.golfclashtommy.comGolden Shot Hard assets: https://imgur.com/a/aSYtv2kThis is the guide and tutorial for the Golden Shot Hard. I play 9 shots.Let me know if you do have any questions.www.patreon.com/golfclashtommy for training sessions and textguides.Dont forget to subscribe!Business email,tommylofberg@gmail.comFacebook group: https://www.facebook.c...Read More
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Ximen Mining Corp.'s ambitions begin with re-examining the historic Kenville Gold Mine near Nelson, BC, a funky town more recently known for its ability to mine tourist dollars.Ambitious junior exploration stocks have achieved several promising high-grade discoveries in British Columbia in recent years. This has ignited a mini bull market and contributed to some impressive gains for the companies...Read More
Gold has fallen from above US$1,433 an ounce yesterday to about $1,410/oz on the spot market earlier.However US market futures were looking positive at the time of writing, while key European market futures were mainly lower.US Federal Reserve chairman Jerome Powell warned against expecting a lengthy monetary easing cycle but did not rule out another rate cut, Bloomberg reported.Attention will now...Read More
The company, which has lifted 2019 production guidance to 7.5-7.9 million tons from the previous 7.1-7.5Mt on the back of record June quarter sales and production volumes 2.24Mt and 2.195Mt, respectively, generated net income of US$125.5 million on $397.6 million revenues for the quarter, up 37% and 22.9% year-on-year, respectively. It said it sold 97% of its coal at the Australian premium low-vol...Read More
California-based Tetra Tech's $52 million acquisition of WYG and its circa-$200 million of annual revenue was a key strategic move for the company, CEO and chairman Dan Batrack said."While financially we had an all-time record quarter, I am even more pleased that we took a significant step forward in our strategic plan to offer services in the United Kingdom with the addition of WYG," he said.Tetr...Read More