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
Brazilian flat steel distributors have reported a 13.8% year-on-year increase in sales volumes during December 2020, with full-year 2020 figures rising by 6.6% over 2019, national distributors' association Inda said on Tuesday January 19.Distributors sold 288,000 tonnes of flat-rolled steel in December last year, up from 253,200 tonnes a year before. In 2020 as a whole, sales volumes were 3.62 mil...Read More
Some of the flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia decreased slightly over the past week amid lower offers and weak demand, sources said on January 19.Demand was weak in both countries because buyers were unsure of the direction of prices, sources said.India, one of the biggest exporters of flat steel to Gulf countries, did not send any new offer prices this we...Read More
Export prices for billet originating from the Commonwealth of Independent States (CIS) dropped on Tuesday January 19 amid lower offers and bid prices heard in the market, sources told Fastmarkets.Lower scrap prices and increased competition in the billet segment pressured prices downward, sources said.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $451.40...Read More
Trident aims to fill valuable nicheSPONSOREDtrident royaltiesHis departure is scheduled for the end of March. Independent non-executive director Keith Marshall will act as interim CEO. Mather intends to remain on the board as a non-executive director.Read More
Trident aims to fill valuable nicheSPONSOREDtrident royaltiesDrivers of increased power consumption include aging deposits, lower grades, higher production of copper concentrates, which require more processing, and an increase in the use of desalinated seawaterRead More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineThe company was previously planning to start full construction of Winu in the June quarter of 20...Read More
Look beyond market approach to project valuations: van ZylLeadershipNeo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesUnder the agreement with Osisko Gold Royalties, the junior would convert the outstanding amount of $7.17 million under a 2018...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process.The rebound in the dollar in recent weeks seems to be acting as a headwind.Base metalsThree-month base metals prices on the LME were mixed this morning, with aluminium, nickel and lead weaker and down by an a...Read More
The export market for flat steel products from the Commonwealth of Independent States (CIS) weakened in the seven days to Monday January 18, amid growing competition from Chinese suppliers offering lower prices. Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $765-780 per tonne on Monday, down from $785-790 per tonne a week earlier...Read More
A summary of multinational mining company Rio Tinto's fourth-quarter 2020 production results from its latest production report released on Tuesday January 19. In brief Iron ore production at Pilbara (100% basis) in the fourth quarter and the full year of 2020 were higher year on year, despite weather disruptions and strict safety measures due to Covid-19 in the second quarter. Iron ore...Read More
Seaborne coking coal prices were relatively flat on Tuesday January 19 with no trades heard, sources told Fastmarkets. Fastmarkets indicesPremium hard coking coal, fob DBCT: $123.81 per tonne, down $0.34 per tonnePremium hard coking coal, cfr Jingtang: $208.44 per tonne, down $0.25 per tonneHard coking coal, fob DBCT: $101.54 per tonne, unchangedHard coking coal, cfr Jingtang: ...Read More
Iron ore prices have bucked the upward trend on Tuesday January 19 amid weakened sentiment in the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.33 per tonne, down $2.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $171.60 per tonne, down $3.06 per tonne58% Fe fines high-grade premium, cfr Qingdao: $159.69 per tonne, down $1.20 per tonne65% Fe Braz...Read More
Costco (COST), an S&P 100 stock moved below $359.50 setting an intermediate downtrend.South Africa iShares (EZA) moved above $45.40 extending an intermediate uptrend.Pre-opening Comments for Tuesday January 19thU.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.Goldman Sachs gained $5.98 to $306.99 after reporting higher than consensu...Read More
China's hot-rolled coil prices tumbled on Tuesday January 19 after data showing the country's steel output hitting a new high in 2020 triggered speculation that the government might restrict exports.DomesticEastern China (Shanghai): 4,480-4,520 yuan ($690-697) per tonne, down 50-70 yuan per tonneSeveral Shanghai-based traders said they had to lower their offers throughout the whole day amid thin t...Read More
Copper was the only base metal on the London Metal Exchange to register a gain during morning trading on Tuesday January 19, while aluminium's forward price continued to drop and tin recorded the biggest decline, with the complex still capped by a firm dollar.Copper's three-month price was up a slight 0.2% as at 9am on Tuesday.The red metal price has been on a steady path of recovery since a low o...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...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
Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process. The rebound in the dollar in recent weeks seems to be acting as a headwindBase metals Three-month base metals prices on the LME were mixed this morning, with aluminium, nickel and lead weaker and down by an...Read More
After an extended consultation period, Fastmarkets has decided to amend its discount assessment for No2 copper scrap imported into China so that it is aligned with the country's new import policy for such material.Following new policy implemented in China on January 1, 2021, all copper scrap must now meet certain criteria to be reclassified as "recyclable copper material" before it is allowed to e...Read More
Chinese copper producer Jiangxi Copper and Canada-based First Quantum have not agreed to a contractual supply of intermediate copper products for 2021, Fastmarkets has learned. Despite discussions extending into mid-January, Jiangxi Copper - a major importer of unrefined copper - and First Quantum - operator of Zambian copper-gold project Kansanshi - were not able to agree to a deal for contracted...Read More