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
Domestic prices for hot-rolled coil were fairly stable in Northern Europe on Monday January 4 due to the seasonal market slowdown, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, ex-works Northern Europe at ?,?666.67 ($814.28) per tonne on Monday, up by ?,?1.67 per tonne from ?,?665.00 per tonne on December 31.The index was also up by ?,?1.67 per to...Read More
Hot-rolled coil and cold-rolled coil export prices from the Commonwealth of Independent States rose in the week to Monday January 4 on higher offers. There were no new deals heard in the assessment period because of the New Year holidays ongoing in Russia and just recently ending in Ukraine. Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $755-76...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in December 2020.The case list below includes only updates. For other continuing cases this...Read More
Seaborne prices climbed on Monday January 4, supported by firm demand in steel and positive sentiment after the New Year holiday, according to sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $165.29 per tonne, up $4.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.00 per tonne, up $4.58 per tonne58% Fe fines high-grade premium, cfr Qingdao: $149.63 per tonne, unchanged 6...Read More
China's hot-rolled coil market resumed on Monday January 4 after a three-day New Year holiday with high prices and active trading.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($695-701) per tonne, up 10 yuan per tonne Sellers won deals at 4,540-4,560 yuan per tonne in morning trading, with some asking up to 4,580 yuan per tonne in the afternoon due to active trading, a Shanghai-based trad...Read More
The publication of Fastmarkets' weekly index for Rotterdam ferrous scrap export for Thursday December 24 was delayed because of a reporting error.Fastmarkets' price book and database have both since been updated.The affected price was steel scrap HMS 1&2...Read More
Except for the premium hard coking coal fob index, seaborne coking coal indices rose on Monday January 4 after new offer prices reached higher levels. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.49 per tonne, down $0.87 per tonne Premium hard coking coal, cfr Jingtang: $203.17 per tonne, up $3.11 per tonne Hard coking coal, fob DBCT: $94.31 per tonne, up $4.26 per tonne Hard cokin...Read More
China aims to diversify its iron ore supply sources and strengthen its bargaining power in purchasing, according to the country's Ministry of Industry & Information Technology (MIIT).Seeking feedback on a steel masterplan that will form part of the country's 14th Five-Year Plan, MIIT said in a document published on Thursday December 31, that one of its goals was to strengthen the iron ore res...Read More
Chinese steelmakers have wasted no time in booking ferrous scrap from abroad following a change in the country's import rules for the steelmaking raw material, with purchases of several cargoes from Japan agreed in the last few days.A notice released by the Chinese Ministry of Ecology & Environment late on December 31 formally confirmed the relaxation of steel scrap import regulations for material...Read More
China's domestic rebar prices increased on Monday January 4 on restocking demand after a three-day holiday for the New Year.DomesticEastern China (Shanghai): 4,510-4,530 yuan ($690-694) per tonne, up by 60 yuan per tonneTraders raised their procurement rates to replenish inventories that had fallen in the past three days.End-user demand also increased after a cold wave affecting the country in the...Read More
Prices for seaborne iron ore pellets inched up last week, though those for concentrate fell amid a downtrending futures market.Fastmarkets iron ore indices65% Fe blast furnace pellet, cfr Qingdao: $215.11 per tonne, up $1.25 per tonne.66% Fe concentrate, cfr Qingdao: $177.12 per tonne, down $6.86 per tonne.Key driversSources said that fundamentals for iron ore pellets remained unchanged, which pro...Read More
Key data from Fastmarkets' Monday January 4 pricing session in London.Key drivers Rumors that the Chinese government was stockpiling further quantities of metal, primarily China-origin cut cathodes, triggered a flurry of activity. Europe and the United States were still returning from seasonal holidays and, with the stockpiling news yet to...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 assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 15.35-16.00 on Monday...Read More
As it looks to a construction decision for its flagship Las Chispas silver-gold project in Sonora, Mexico, SilverCrest Metals (TSX: SIL; NYSE-AM: SILV) has announced that it has entered into a US$120-million credit agreement with RK Mine Finance for a total of US$120 million. The secured financing facility is intended to fund the construction of the proposed 1,250 tonne per day underground project...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.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb...Read More
Argonaut Gold (TSX: AR; US-OTC: ARNGF) has executed a fixed bid engineering, procurement, construction and commissioning contract (EPC contract) with Ausenco, an engineering and construction management company. The EPC contract covers construction of the Magino processing facility and other parts of the Magino open-pit pre-development project in Ontario and covers approximately 40% of the $480 to...Read More
Victoria Gold (TSX: VGCX) says an agreement with a syndicate of banks for a secured US$200 million debt facility will cut carrying costs by about 50% in 2021. The credit facility consists of a US$100 million term loan and a US$100 million revolving facility.The loan was used to repay the company's previously outstanding project finance facility, which included senior and subordinated debt that was...Read More
Australia's Lucapa Diamond (ASX: LOM) has kicked off 2021 with a bang with its recovery of a 113 carat gem-quality diamond from its Lulo mine in Angola, the seventeenth rock over 100 carats found at the asset.The company said the discovery was "particularly significant" as it demonstrated that large, high-value diamonds are present in the area that is the focus of its exploration program."Thi...Read More
UK-based conglomerate GFG Alliance has finalized the purchase of manganese alloy smelter Tasmanian Electro Metallurgical Co (Temco) in northern Tasmania, Australia, from Western Australia-based miner South32.The deal was subject to a binding sale and purchase agreement with South32 and Anglo American, made in August last year, and meant that Temco would join Liberty Steel Group as part of the GFG...Read More
The rapid and significant falls in manganese ore prices in 2019 and 2020 have created "frozen stocks," which are believed to have acted as a buffer for the ore market while also demonstrating some different characteristics over both years, sources told Fastmarkets.Fastmarkets' manganese ore index 37% Mn, cif Tianjin ended 2019 at $3.92 per dry metric tonne unit (dmtu), a decline of $2.19 per dmtu...Read More