Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Tin, zinc and nickel all set new 2020 highs during trading on Wednesday December 9, while aluminium increased above 2% on a positive day for metals across the London Metal Exchange base metals complex.Tin stood at $19,442 per tonne at the close on Wednesday, a 1.4% increase from $19,175 per tonne at 5pm on Tuesday.Tin's three-month price rose substantially over the day, reaching $19,510 per tonne...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Wednesday December 9.Fastmarkets' alumina index, fob Australia is at its highest level since March 18, 2020, up 30% from the year-to-date low of $224.48 per tonne on April 15. Key drivers Two new deals concluded late on December 8. The first deal concluded at $295.50 per tonne fob Australia for 30,000 tonnes...Read More
A reminder of Fastmarkets base metals pricing and coverage during the Christmas period. Fastmarkets base metals price assessments are published in accordance with the London Metal Exchange holiday calendar, which reflects holidays in England and Wales. This means base metals prices will be assessed on every LME business day, including between Christmas and New Year, but are not published or rolled...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to September 30, 2020.In briefNet sales were down because of globally weak demand due to the Covid-19 pandemic, Ezz Steel said on Tuesday December 8.The effects of the pandemic included "a significant drop in construction activity, contributing to this decrease [in sales]," it added.E...Read More
Genesis opens new chapter at UlyssesSPONSOREDgenesis minerals'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningPantoro bullish on bigger production profileSPONSOREDpantoro limitedOceanaGold commits to net zero emissions by 2050SPONSOREDoceanagoldA 200 parts per million copper anomaly extends over an area of about 600m-by-500m. About half of the Mercedes target...Read More
Look beyond market approach to project valuations: van ZylLeadershipGenesis opens new chapter at UlyssesSPONSOREDgenesis minerals'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningPantoro bullish on bigger production profileSPONSOREDpantoro limitedCodelco raised $500 million in New York via the issue of a 31-year bond at a 3.Read More
Steel billet exporters from the Commonwealth of Independent States (CIS) have continued to increase their offer prices, despite trading being limited by the difference between mills' offers and buyers' bids, sources told Fastmarkets on Wednesday December 9.Offers of steel billet for February shipment from some Russian and Ukrainian mills were heard within the range of $530-540 per tonne fob on Wed...Read More
Iran's export prices for steel billet and slab continued their uptrends in the week to Wednesday December 9, boosted by global price rises for steel products and raw material costs. Both prices have hit their highest point since July 2018, having risen sharply in recent weeks. Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran was $490-500 per tonne on December 9, r...Read More
AVZ closes on financing for tier-one lithium projectSPONSOREDavz mineralsThat's the assessment of capital market firm Argonaut Securities, with executive chairman Eddie Rigg pointing out at the New World Metals conference in Perth today the strong correlation betweenRead More
Steel wire rod prices in the south of Europe moved up again in the week to Wednesday December 8, driven by tight availability of material and increasing feedstock costs, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?520-530 ($630-642) per tonne on Wednesday, up by ?,?10 per tonne from ?,?510-520 per...Read More
The domestic price in Northern Europe for steel wire rod increased again over the week to Wednesday December 9, supported by short supply, good demand and a jump in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, rose to ?,?550-570 ($666-690) per tonne on Wednesday, up by ?,?10-20 per tonne from...Read More
The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.The potential headwinds – political tensions between the United States and China, a no-deal Brexit and the continuing out of control spread of the virus, are for now taking a backseat.* China’s consu...Read More
Fastenal (FAST), a NASDAQ 100 stock moved above $49.18 to an all-time high extending an intermediate uptrend. TSX Energy iShares (XEG) moved above $6.10 resuming an intermediate uptrend. Pre-opening Comments for Wednesday December 9thU.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US7...Read More
Ferrous scrap exports from the United States shot up by 26.6% month on month in October amid a surge in shipments to Turkey, Bangladesh and Mexico.US exports of ferrous scrap totaled 1.49 million tonnes in October, up from just shy of 1.18 million tonnes in September and 1.87 million tonnes August.Shipments to Turkey, the top buyer of US ferrous scrap, rose by 93.1% to 365,237 tonnes from 189...Read More
The United States' ferrous scrap export market remains robust, with East Coast recyclers again raising prices in a bid to attract scrap while they compete with domestic mills for raw material.After a series of modest $5- and $10-per-gross-ton increases in recent weeks, No1 heavy melt prices jumped by $15 to $20 per ton at East Coast exporters over the past week.Exporters had been trying to ke...Read More
Turkish steel mills continued to book deep-sea scrap cargoes for February shipment at increasing prices, which are being driven up by improving steel and billet values, sources said on Wednesday December 9.A steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) and 15,000 tonnes of a mixture of bonus, busheling and plate & structural (P&S) at an...Read More
Seaborne iron ore trading was limited on Wednesday December 9, however, lump prices performed well amid active trading at ports and less pellet supply, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $150.16 per tonne, up $1.81 per tonne62% Fe low-alumina fines, cfr Qingdao: $149.81 per tonne, up $1.64 per tonne58% Fe fines high-grade premium, cfr Qingdao: $13...Read More
Seaborne coking coal prices in the cfr market jumped on Wednesday December 9 due to relatively tight supplies for steel mills in China, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.81 per tonne, down $0.27 per tonnePremium hard coking coal, cfr Jingtang: $176.55 per tonne, up $7.03 per tonneHard coking coal, fob DBCT: $92.56 per tonne, down $0...Read More
London Metal Exchange nickel, zinc and tin prices hit new 2020 highs on the morning of Wednesday December 9, with the base metals complex upbeat due to new proposals for a US Covid-19 stimulus package and the dollar index remaining low. Zinc's three-month price was up 1.9% at $2,852.50 per tonne on Wednesday from Tuesday's closing price of $2,799.50 per tonne. This price set a new high for 2020, a...Read More
The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.The potential headwinds - political tensions between the United States and China, a no-deal Brexit and the continuing out of control spread of the virus, are for now taking a backseat. China's consumer price i...Read More