Nickel premiums in China continued to fall in the week ended Tuesday July 9 on import arbitrage losses, while the traditional summer slowdown kept premiums in Europe and the United States unchanged. Chinese premiums continue adjusting back down after recent peaks.European premiums not swayed by falling three-month nickel price on the London Metal Exchange.US premiums hold, although low end of rang...Read More
Base metals prices on the Shanghai Futures Exchange were mostly up in morning trading on Thursday July 11 amid US dollar weakness following dovish comments by US Federal Reserve Chair Jerome Powell, while nickel rallied on reports of a possible ore ban by Indonesia.The dollar index dipped by 0.07 to 96.98 as at 9.50am Shanghai time. "The US dollar is on the back foot after Federal Reserve Chair Po...Read More
The market for flat-rolled steel imports into the United States has remained broadly quiet and uncompetitive, but foreign products could become attractive once again in the wake two rounds of domestic mill increases announced over the past two weeks, market participants said."My focus had been international, and now it's completely dead," one mill source commented.Hot-rolled coilFastmarkets' ...Read More
Salzgitter Flachstahl, a flat steel subsidiary of German steelmaker Salzgitter, plans to build a hot-dipped galvanizing (HDG) line with capacity for 500,000 tonnes per year, the company said on Thursday July 11.The new production facility will be intended to supplement the company's existing capacities."This project is a key component in the strategy of the Salzgitter Group that focuses on qualita...Read More
Ukraine's largest producer of long steel, ArcelorMittal Kryvyi Rih, is performing hot tests of one of two new continuous casting machines, designated CCM No2 and CCM No3, the company announced on Thursday July 11."The machine will be put into operation in the third quarter of 2019," the company said in a recent release, adding that the second new CCM will be ready by the end of the year.The constr...Read More
The Turkish domestic long steel markets have remained quiet over the past week amid sluggish summertime demand, sources told Fastmarkets on Thursday July 11.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was TRY3,100-3,130 ($542-547) per tonne on Thursday, widening upward slightly from last week's TRY3,100-3,120 per tonne.The...Read More
The price of steel billet imported into Egypt increased in the week to Thursday July 11 because of higher offers, despite the poor domestic demand."Offer prices are increasing but there are no bookings because of the uncertainty about safeguard duties," a local market source told Fastmarkets.In April, Egypt imposed a temporary additional duty on rebar and billet in response to increased import vol...Read More
Seaborne iron ore prices fell on Thursday July 11, with demand weakening because of steel production restrictions in north China. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $119.37 per tonne, down $1.59 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.29 per tonne, down $1.59 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines...Read More
Seaborne coking coal prices retreated on Thursday July 11, which left some participants in China surprised over the quantum of the decline, though they had no doubts about the direction of the market. A cargo of premium hard coking coal was heard to have been traded at $186 per tonne cfr China, down $5 per tonne compared with a transaction involving the same brand earlier this week."I am not sure...Read More
Trading activity in eastern China's hot-rolled coil market rose to moderate levels on Thursday July 11 after sellers cut prices.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($561-564) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, unchangedTrading in Shanghai was robust in the morning when traders set prices at 3,860-3,870 yuan per tonne.But once pr...Read More
China's rebar prices held steady on Thursday July 11 amid a drop in both supply and demand.Domestic Eastern China (Shanghai): 3,980-4,000 yuan ($578-581) per tonne, unchangedNorthern China (Beijing): 3,880-3,910 yuan per tonne, unchangedA total of 3.76 million tonnes of rebar were produced during the week to Thursday, down 21,000 tonnes from the preceding week, according to a local industry inform...Read More
Chinese stainless steelmaker Tsingshan Holding Group has completed the construction of its 600,000-tonnes-per-year cold-rolling mill in India and is currently putting it through its final stage of testing.The steelmaker has plans for another two phases of expansion for the mill, which...Read More
Domestic stainless steel prices in China moved down slightly over the past week amid low buying interest. Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,100-14,500 yuan ($2,049-2,107) per tonne including value-added tax for the week ended Wednesday July 10, down 100 yuan per tonne from a week earl...Read More
Former English Defence League leader Tommy Robinson is set to appear at the Central Criminal Court in London (Old Bailey) to hear the sentence in his contempt retrial on Thursday, July 11 after he was found guilty on Friday.In May 2018, he was already sentenced to 13 months in jail after live-streaming footage of defendants in a criminal trial. The court of appeal then overturned the ruling freein...Read More
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Legendary junior gold stocks investor Eric Sprott continued his buying spree this week as he snapped up the lion’s share of Golden Predator’s latest equity issue. Golden Predator Mining Corp. (TSX.V:GPY) originally announced a private placement of worth $6.08m, in which Sprott had agreed to acquire 5 million shares - moire than a third of the latest batch - to increase his tot...Read More
Emmerson shares were trading at 3.84p early today, up more than 42% since the start of 2019 but off the recent high of 6.2p reached in May.The company's CEO Hayden Locke said the oversubscribed new share issue showed good investor support for Khemisset."These funds enable us to continue our strategy of rapidly advancing the project and our discussions with various potential strategic partners, wit...Read More
IsoEnergy Ltd. (TSXV: ISO; OTCQX: ISENF) is a well-funded uranium exploration and development company with a portfolio of prospective projects in the Eastern Athabasca Basin in Saskatchewan, Canada and a historic inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut. We learned from Craig Parry, CEO of IsoEnergy, that IsoEnergy was a spin-off from NexGen Energy, the co...Read More
The 5G marketing machine is shifting into high gear.Telecom majors all over the world are spending millions to promote their new 5G networks.And this time, the hype is real.See, the 5G market is unlike many others that have been hyped in recent years. Markets like cryptocurrency, cannabis, and, more recently, meatless meat have seen incredible growth. And there are still big opportunities to profi...Read More
Paramount Gold Nevada Corp. (NYSE American: PZG) is a US focused gold development company that owns 100% of the Grassy Mountain Gold Project, which consists of approximately 11,000 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit, entirely located on private land, for which results of a positive PFS have been released...Read More