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
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade. Index futures moved slightly lower following release of U.S. economic news at 8:30 AM EST. Consensus for the November Consumer Price Index was an increase of 0.1% versus a gain of 0.2% in October. Actual was an increase of 0.2%. Excluding food and energy, consensus for the November Consu...Read More
The Turkish deep-sea scrap import market was quiet on Thursday December 10, although prices remained firm, sources told Fastmarkets.A steel mill booked a European cargo at $377-378 per tonne cfr on an HMS 1&2 (75:25) basis, which raised the daily scrap indices by more than $12 per tonne on Wednesday, but the market was quiet on Thursday.There was talk of a sale from the United States at $400 per t...Read More
Companhia Sider??rgica Nacional (CSN) set the iron ore guidance for its own production and purchases from third parties at 33 million tonnes in 2020 and 38-40 million tonnes in 2021, the Brazilian steelmaker and miner said on Thursday December 10.CSN previously expected its output and third-party purchases to total 33-36 million tonnes this year, compared to 38.46 million tonnes in 2019.A business...Read More
A recent sharp increase in Bangladeshi long steel prices has provided some much-needed respite to mill margins at a time of soaring import scrap costs, sources told Fastmarkets on Thursday December 10.Prices for Bangladeshi domestic rebar had been marooned at 55,000-55,500 taka ($638-643) per tonne since September, but prices were heard 5,500-6,000-per-tonne higher at 61,000 taka per tonne on Thur...Read More
The seaborne premium cfr price rose on Thursday December 10, with United States-origin coal offered at a higher price, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.89 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $178.60 per tonne, up $2.05 per tonneHard coking coal, fob DBCT: $92.56 per tonne, unchangedHard coking coal, cfr Jingtang: $160.26 per...Read More
Consumption of Japanese high-grade steel scrap will continue to increase in the coming months following the reboot of several blast furnaces (BFs) which were idled earlier in the year, market participants told Fastmarkets. Higher steel demand in Japan, particularly from the automotive sector, has helped Japanese steelmakers raise production in recent months after a bruising start to the year chara...Read More
Japan's Kanto Tetsugen steel scrap auction closed at an increase of ?8,105 ($78) per tonne month on month on Thursday December 10, in a move that has shocked market participants. The two highest bids in the auction - which is a cooperative of scrap dealers in the Tokyo region - came in at ?38,910 per tonne fas and ?38,510 per tonne fas respectively on Wednesday. That made an average price of ?...Read More
The January contract in the Chinese iron ore futures market on the Dalian Commodity Exchange (DCE) crossed the 1,000-yuan ($153) mark on Thursday December 10, driven by strong demand and anticipation of supply tightness, market sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.58 per tonne, up $6.42 per tonne 62% Fe low-alumina fines, cfr Qingdao: $156.79 per tonne, up $6....Read More
Key data from Fastmarkets' pricing session in London on Wednesday December 9. Key drivers Higher offers from China brought replacement costs up rapidly. Traders in Europe reported difficulty finding material, especially for antimony max 100 ppm Bi, below $6,400 per tonne for prompt delivery. Offers for delivery in...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The European ferro-titanium price has jumped to a peak last seen in May 2013, when it was assessed at a range of $6.70-6.90 per kg ddp, after renewed trading activity in quarterly business to steelmakers from January has joined with a bull run in spot demand since September.Fastmarkets assessed the price for ferro-titanium 70% Ti, max 4.5% Al, ddp Europe at $6.25-6.75 per kg on Wednesday December...Read More
China's domestic prices for stainless cold-rolled coil increased over the week ended Wednesday December 10, supported by gains in the nickel market and steady end-user demand.The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $16,519 per tonne, up by $613 per tonne (3.9%) $15,906 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2m...Read More
The supply of copper and brass scrap has shrunk in the United States despite a consistently high base price, keeping copper scrap discounts relatively tight compared with the Comex copper price.On the other hand, the prices of all brass scrap grades assessed by Fastmarkets rose in the week ended Wednesday December 9, continuing to gain strength after hitting more than two-year highs last week.The...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 2050SPONSOREDoceanagoldMining Journal's list of the world's largest mining companies by market capitalisation reveals the value of the top...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 2050SPONSOREDoceanagoldThe fourth World Risk Report by Mining Journal Research and Intelligence measures the jurisdictional risk characteri...Read More
Cobalt watchers can expect demand for the blue metal to double by 2030, says Ying Lu, senior analyst at Roskill. The forecast comes even as this year saw a significant shift in global cobalt markets as both mined and refined cobalt production fell, marking the first decrease in production since 2016."The cobalt market has been dogged by oversupply for three consecutive years," Lu told The Northe...Read More
Although a change in the U.S. government is unlikely to ease tensions between Washington and Beijing, says CPM Group vice-president of research Rohit Savant, incoming president Biden's approach to negotiations with China could impact the status of gold and silver under the current administration."Hostilities between the U.S. and China will remain irrespective of who is in the White House," he to...Read More
Next year, producer Alamos Gold expects the Young-Davidson underground mine in Ontario, where a lower mine expansion was completed in July, to drive a 17% production increase over 2020 levels, to 470,000 to 510,000 gold ounces. The Toronto-based company has released detailed guidance for 2021 and a general production outlook through to 2025.Production at the Young-Davidson mine is expected to incr...Read More
Golden Sky Minerals (TSXV: AUEN) reports assays of six reverse circulation (RC) holes at its 100%-owned Hotspot property. A total of 568.45 metres were drilled at the Sure Bet zone, and all holes returned near surface gold-bearing intervals.The longest hole, HSRC-20-02, returned 71.63 metres of 1.34 grams gold per tonne beginning at 32 metres. It included intersections of 7.72 grams over 6.09 me...Read More