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
China Copper became the head negotiator in the settlement of the 2021 copper concentrates treatment and refining charges (TC/RC) benchmark following years of expansion in copper capacity.On Monday December 14, the subsidiary of Chinalco - which has outgrown its state-owned peers - became the first smelter to secure a deal with US copper miner Freeport-McMoRan at $59.50 per tonne/5.95 cents per lb....Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data. Stricter lockdowns measures in many countries are a headwind for equity markets, which may flow into the metalsWith gold prices up and US treasury yields down, this suggests a pick-up in haven demandBase metals The three-m...Read More
(IDEX Online) - Botswana Diamonds reported a second loss-making year but said demand was recovering and the future looked good.The Ireland-based explorer said it was making good progress on its newly-acquired KX36 high grade 3.5 hectare kimberlite pipe in the Kalahari about 260km north west of Gaborone, Botswana.It says it has an indicated diamond resource of 17.9 million tonnes at 35 carats per h...Read More
(IDEX Online) - A Cartier ring featuring a huge 21.86-carat Colombian emerald sold for $3.65m, almost four times the high estimate of $1m by Sotheby's New York.It was the headline lot in a sale of the "very complete jewelry wardrobe" collected by the late philanthropist and society hostess Cecile Zilkha.The square emerald-cut stone (pictured) was described as "richly saturated medium deep sli...Read More
(IDEX Online) - De Beers and the Botswana government today said they were extending the contract between them - governing production of a quarter of the world's rough diamonds - by a year.The deal, which had been due to expire at the end of this month, is of critical importance to both sides, and talks to renew it had already been delayed.The year-long extension may give both parties ti...Read More
Buyers of steel rebar in the United Arab Emirates expect new domestic prices to be announced this week with an increase of about 315-515 dirhams ($86-140) per tonne, sources told Fastmarkets on Tuesday December 15.Domestic rebarSince November, the country's steel producers have been offering rebar at 1,984,1,985 dirhams ($540) per tonne ex-works for orders to be produced in December. However, the...Read More
The export market for long steel products from the Commonwealth of Independent States (CIS) increased again during the week to Monday December 14 amid new sales and strong billet prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $600-610 per tonne on Monday, up by 11% from $540-550 per tonne a week...Read More
The export price for steel slab from the Commonwealth of Independent States (CIS) went up again over the week to Monday December 14 on new sales, sources said.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $620-625 per tonne on December 14, up from $570-580 per tonne a week earlier.Ukraine-origin steel slab was sold...Read More
Domestic prices for hot-rolled coil increased day on day in Northern Europe on Tuesday December 15 due to a materials shortage in the market, and steelmakers are preparing to announce higher offers soon, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?636.25 ($772.68) per tonne on December 15, up by ?,?12.92 per...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to rise over the past week, mainly due to strong global demand and despite there being less enthusiasm in their domestic markets.Demand was not strong in the UAE or Saudi Arabia because stock levels were sufficient and end-user demand was only limited, sources told Fastmarkets on Tuesday December 15.UAEOffer pric...Read More
Offer prices for steel billet originating in the Commonwealth of Independent States continued to move up due to surging scrap costs and tight supply, while trading was quiet this week on offer-bid disparity, sources told Fastmarkets on Tuesday December 15. Offers for steel billet for February shipment from some Russian mills were heard within the range of $560-580 per tonne fob on Tuesday, with so...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipBardoc eyes long-term growth in prime goldfields locationSPONSOREDbardoc goldDrill results multiply value options in front of YandalSPONSOREDyandal resourcesA new target zone in the Pillar district, interpreted as a potential parallel lens at depth, is emerging about 70-120m ea...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The company's Chuquicamata division in northern Chile is already powered by renewable energy sources, which represent about 20% of its total power consumption.Read More
Look beyond market approach to project valuations: van ZylLeadershipBardoc eyes long-term growth in prime goldfields locationSPONSOREDbardoc goldDrill results multiply value options in front of YandalSPONSOREDyandal resources'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningThe funding will be used by Solaris to expand the ongoing exploration program at its Wa...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The company recently completed preliminary economic assessments on its three potential expansions and plans to advance these to pre-feasibility studies in 2021, which will be key for it to determineRead More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data.* Stricter lockdowns measures in many countries are a headwind for equity markets, which may flow into the metals* With gold prices up and US treasury yields down, this suggests a pick-up in haven demandBase metalsThe three...Read More
Turkish steelmakers continued to book deep-sea scrap for February 2021 shipments at increasing prices, sources said on Tuesday December 15.A steel mill in the Marmara region booked a European cargo comprising an 80:20 mix of No1 and No2 heavy melting scrap at $421 per tonne and bonus at $431 per tonne cfr. This compared with the previous cargo sold from the Baltic Sea region at $419 per tonne...Read More
A shortage of scrap has forced Riva Group to halt steel making operations at its Hennigsdorf site in Germany, several sources told Fastmarkets on December 15.The rebar and wire rod producer had to suspend operations at the Hennigsdorf site, in Brandenburg state in the north east of Germany, last week because it had run out of steel scrap, several sources told Fastmarkets."Riva's Hennigsdorf has no...Read More
Seaborne iron ore prices were rangebound on Tuesday December 15 compared with the previous day, but trading activity had picked up at the Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $155.07 per tonne, up $0.70 per tonne62% Fe low-alumina fines, cfr Qingdao: $155.09 per tonne, up $0.38 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.90...Read More
Premium hard coking coal cfr and fob prices diverged slightly on Tuesday December 15, with the premium hard coking coal cfr price up and fob price down, sources told Fastmarkets. Some coke producers in China proposed a ninth round of price increases - with an increase of 50 yuan ($8) per tonne starting from December 15 - and some steel mills accepted the proposal, sources said.Fastmarkets ind...Read More