Fastmarkets is standardizing the names of some of its steel price assessments to better reflect incoterms and trading locations. In this standardization process, we will remove from the price names the region from country-specific assessments and specify in clearer detail the pricing location of some domestic China prices. Please see the table below for more details:Although Fastmarkets has amende...Read More
China's rebar prices were unchanged on Wednesday June 26 amid softer spot demand and a slight rise in the futures market. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, unchangedRebar futures edged up during the day but failed to push up spot prices.Continual rain in eastern China this week dampened end-user...Read More
Base metals on the London Metal Exchange were barely changed during a subdued morning session on Wednesday June 26, with a firmer dollar and sluggish US economic data constraining trading.Market analysts therefore remain cautious while optimism ebbs and flows, broadly capping any gains across the complex."The rebound momentum in the LME base metals earlier this week may all be mere short-covering...Read More
The bullish momentum seen on Tuesday June 25 seems to have run its course because base metals prices were mostly mixed in the early Asian trading session on Wednesday. Markets seem to have already priced in the positivity surrounding an upcoming meeting between US president Donald Trump and China's Xi Jinping at the Group of Twenty (G20) summit in Japan later this week.Both countries are seeking t...Read More
Base metals prices on the Shanghai Futures Exchange were split into two camps during Asian morning trading on Wednesday June 26, with copper, nickel and zinc securing gains while the rest weakened marginally.The mixed moves come as a slight recovery in the dollar offsets the optimism stemming from recent trade developments ahead of upcoming talks between US President Donald Trump and China's Xi Ji...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Fastmarkets' Wednesday June 26 pricing session in Europe.Key drivers The European ferro-titanium price fell for the fifth consecutive week after six weeks of stability. Demand has been quieter since an initial bout of short-covering in mid-April when major European producer FE Mottram stopped production after a fire damaged its UK plant.FE Mottram aims to restart production aroun...Read More
The following Fastmarkets minor metals prices changed on Wednesday June 26:Antimony MB free market regulus, $/tonne: $6,300-6,500 per tonne from $6,300-6,550Cobalt MB free market alloy grade, $/lb: $14.35-14.80 per lb from $14.50-15.15Cobalt MB free...Read More
UK aluminium alloy producers have been forced to close smelters or partially cease production as a confluence of weakening automotive sector demand for material, sluggish regional gross domestic product (GDP) growth and tariff uncertainty continues to push LM24 ingot prices lower. Market participants have reported rumors that three prominent UK secondary aluminium smelters have ceased operations w...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday June 26:Aluminium scrapCommercial pure cuttings: ?900-950 per tonne from ?920-960Loose old rolled cuttings: ?635-650 per tonne from ?650-665Commercial cast: ?700-750 per...Read More
Kincora Copper [TSX-V: KCC] fell off investor's radar screens due to an extended period of inactivity in 2018, but now the Company is cashed up, team in place, and ready for extensive drilling at 5 independent, large-scale porphyry targets with a 12-month funded budget for up to 18,000 m of drilling.Kincora has been operating in Mongolia for > 8 years. In 2016, the Company secured unencumber...Read More
Kincora Copper [TSX-V: KCC] fell off investor's radar screens due to an extended period of inactivity in 2018, but now the Company is cashed up, team in place, and ready for extensive drilling at 5 independent, large-scale porphyry targets with a 12-month funded budget for up to 18,000 m of drilling.Kincora has been operating in Mongolia for > 8 years. In 2016, the Company secured unencumber...Read More
Mining major BHP (ASX: BHP) is at a multi-year high, rising within a whisker of its pre-GFC 2007 and 2011 boom-time peaks, hitting A$41.71 in Australian trade earlier today.The iron ore price is above US$115 per tonne for 62% fines according to MySteel on supply constraints, while gold is holding above $1,400 an ounce on the spot market.Metals and mining stocks closed about 1% higher in Toronto ye...Read More
Daniel Peltonen has been appointed president of Boliden Smelters and is expected to assume the role soon, but Hjelmstedt will perform the interim duties and also be part of Boliden´s management team.Read More
It is understood the company has secured an initial US$16.3 million from private equity firm GenNx360 Capital Partners.GenNx360 is an existing lender and owns a large stake in Schramm's bankrupt parent company HDR Holding Inc.If all goes to plan, the deadline for the entry of the bidding will be July 19 and any transaction be closed by September 3.Schramm, founded in West Chester, Pennsylvania, in...Read More
Meanwhile the miner has announced an additional US$450 million spend to improve safety at the remaining structures at Córrego do Feijão and on recovery efforts.Luiz Augusto Pessoa Nogueira told The Wall Street Journal Vale might have carried out an explosion at its mine less than a mile from the dam, hours before it collapsed."This is one of the hypotheses that we are investigating a...Read More
He's never made it a secret.Nor has his Secretary of State or National Security Advisory.The current administration wants to wipe Iran off the face of the map. And while some restraint has been exercised recently, it won't last.Both sides smell blood, and both sides are willing to sacrifice plenty of blood and treasure if necessary.Truth is, at this very moment, preparations are being made for eve...Read More
Bill Murphy & Chris Waltzek Ph.D. - June 25th, 2019. * Mp3.HighlightsBill Murphy of GATA.org returns to the show with fresh insights on the stunning PMs shares rally, which outperformed the key US equities markets.Gold may have built a final base in preparation for liftoff to $2,000+ in the coming years, as the "Gold Cartel" runs out of physical bullion to sell.According to the mountain o...Read More
- Dave Kranzler"We are confident we can produce further improvement in our results in the second half of this year" - KB Homes CEO in reference to its "returns-focused" growth model"Returns-Focused Growth Model." Has a nice ring to it, doesn't it? KBH's revenues dropped 7.3% YoY for Q2. It's operating income plunged a healthy 28%. How's that growth strategy working out for you, Jay?Of course...Read More
- Jeffrey A. Tucker Facebook's Libra - a stablecoin that could offer a serious challenge to the money and banking status quo - will likely be very good for mainstream acceptance of blockchain technology as an infrastructure of a global privately produced currency. It could become a genuine challenge to the whole idea of nation-state money as a means of payment and a technology of final sett...Read More