The seaborne coking coal spot market softened further on Thursday May 30, with offers falling even lower.A cargo of premium low-vol hard coking coal was offered at $205 per tonne cfr China during the day, down $3 per tonne from a day earlier, sources told Fastmarkets. Sellers were still indicating offers for top Australian brands at around $210-212 per tonne cfr China, which Chinese market partici...Read More
Surging iron ore prices have narrowed steelmaking margins in China, though the country's long steel producers are unlikely to lower their prices anytime soon to stimulate sales, sources told Fastmarkets MB this week.Market participants estimated at the start of this week that rebar producers' gross profits had fallen below 500 yuan ($72) per tonne, compared with 700-800 yuan per tonne in early May...Read More
China's domestic prices for hot-rolled coil softened further on Thursday May 30 amid limited trading activity, with high inventory levels leaving market sources expecting further drops.DomesticEastern China (Shanghai): 3,960-3,970 yuan ($573-574) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,870-3,890 yuan per tonne, down 10 yuan per tonneLosses in the futures market put pressure on...Read More
China's rebar prices were unchanged on Thursday May 30 despite declining futures, with the stability cutting mills' need to look to the export market.Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($577-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, narrowed down 10 yuan per tonneBuyers procured at steady rates in the morning before rebar future...Read More
Antimony prices in both Chinese and European markets have dropped significantly so far this year due to weak demand and bearish sentiment caused by factors led by rising trade tension between China and the United States, the world's two largest economies. Fastmarkets' European and Chinese antimony prices have fallen by more than 15% and 21% respectively in the year to date. Fastmarkets presents th...Read More
Cobalt prices fell in the first half of the week after slow consumer demand and strong discounts on long-term contracts incited aggressive offers from sellers. Fastmarkets price assessment for standard-grade cobalt in-warehouse Rotterdam was $15.35-16.10 per lb on Wednesday May 29, down from $16-16.55 per lb at the end of last week. Alloy-grade prices settle...Read More
Key data from the Wednesday May 29 pricing session in Shanghai. Key drivers The Chinese cobalt salts market, which includes cobalt sulfate and tetroxide, continued to soften on sluggish demand, which is partially due to the fact that battery cathode materials manufacturers have broadly fed on tolled products. Meanwhile, excessive stocks consumers had built up in early April when the co...Read More
China imported 7,938 tonnes of antimony ore and concentrate in April, marking year-on-year and month-on-month increases of 96% and 134% respectively, according to official, but unconfirmed, data seen by Fastmarkets MB.Last month's total compares with 3,399 tonnes in March and 4,044 tonnes in April 2018Russia was the top supplier of China's imported antimony ore and concentrate last month, shipping...Read More
Opportunities to lock in long-term sales of cobalt hydroxide - and diversify a customer base outside of China in the process - are too appealing to pass by in a market still feeling the effects of a ramp-up in intermediates supply. Earlier this week, Umicore and Glencore announced a long-term revolving agreement for the latter to supply cobalt hydroxide to the former's global operations. This foll...Read More
European molybdenum prices rose this week, with price gains in molybdenum oxide pulling up the alloy market, although the rally may be limited in the near term given muted demand in the stainless steel sector, trading sources said. Around 270 tonnes of oxide was reported traded in first half of the week to Wednesday May 29, with nearly half that volume done in Europe and the rest in Busan, South K...Read More
Domestic stainless steel prices in China widened over the past week amid a mixed outlook among market participants. The Fastmarkets MB domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 13,950-14,400 yuan ($2,018-2,083) per tonne including value-added tax for the week ended Wednesday May 29, compared with 14,000-14,300 yuan per tonne a week earli...Read More
Cambodia's Sihanoukville Special Economic Zone is over a thousand miles from China, but you would not know it to be there.Cut into a landscape of thick jungle and paddy fields, the area - which touts itself as a landmark Belt and Road project - is a mass of freshly built white factory buildings emblazoned with names such as Fangyuan Factory, Qingdao Baoli Textile and Jinchenyuan.There runs Kinnric...Read More
In March, Warrior Met Coal (NYSE: HCC ) approved a share buyback program of up to US$70 million of its outstanding common stock after exhausting a previous US$40-million repurchase program launched in May 2018.The metallurgical coal producer, with two underground mines in Alabama, also declared a special cash dividend in April of US$4.41 per share of its common stock for a total payment of US$230...Read More
Once in production, Dumont would be one of Canada's largest base metal mines and one of the top-five sulphide nickel producers in the world, RNC Minerals (TSX: RNX) says.The company has released an updated feasibility study on the fully permitted nickel-cobalt project, which contains the second-largest nickel reserves in the world (2.8 million tonnes, or 6.1 billion lb.), and the ninth-largest cob...Read More
Lithium's next generationSPONSOREDneo lithiumHot Chili secures copper 'super hub' SPONSOREDhot chili limitedVimy ready for move to higher uranium groundSPONSOREDvimy resources"It's not regulation that fails, it's [the industry] as engineers and operators"SPONSOREDsrk consultingAs anyone working with statistics knows, before analysing data, it is crucial to understand...Read More
With the metals and mining sector in an unsettled state, should investors still be snapping up gold stocks as their go-to defensive standard? While metals such as palladium were down on auto bearishness, gold was similarly taking a hit at the start of the week, thanks in part to a weakened tech sector and stronger U.S. dollar. Today, we’ll take a look at two of the most-watched affected stoc...Read More
Once in a while, investors get a chance to buy quality dividend-growth stocks at discounted prices.Let’s take a look at two top TSX Index stocks that recently gave investors a nice raise yet are out of favour with the market.Suncor EnergySuncor Energy (TSX:SU)(NYSE:SU) is Canada’s largest integrated energy company with oil production, refining, and retail operations that enable the com...Read More
Trump's trade advisor, Peter Navarro, was on CNBC today asserting that the economy was expanding at an unprecedented rate. Either Navarro is tragically ignorant or an egregious liar. Either way he looks like an idiot to those us who study the real numbers and understand the truth.The Global Manufacturing PMI (Purchasing Managers Index) dropped to 50.4 - the lowest since July 2016. It's been fall...Read More
Non-executive director Stephen Hunt and non-exec chairman Asimwe Kabunga have both put in A$50,000 on an unsecured basis, with the funding repayable by mid-July.Volt needs US$40 million to develop the first stage of Bunyu, and the ASX-listed company has been trying to secure the funding for much of the past 12 months since completing feasibility work in July last year.Listings on stock exchanges i...Read More
You know that feeling you get when you were correct about something but no one listened?When you go on and on and on about something, only for people to ignore it until it starts causing problems?This is the situation I've found myself in this week over rare earth elements. And it's frustrating as all hell.I have been on the soapbox for years warning folks that China has had too much control over...Read More