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 steel heavy plate started to decline across Europe over the week to Wednesday February 10 due to soft demand, sources have told Fastmarkets.Heavy plate prices had gone up by ?,?50 per tonne in the South and by ?,?60-70 per tonne in the North of Europe from mid-January to the start of February this year, due to rising costs for slab feedstock and some demand recovery.Fastmarkets...Read More
(IDEX Online) - The GIA lab in Johannesburg has identified three cases of synthetic moissanite being submitted for grading with a fraudulent inscription.It's a new development by unscrupulous dealers trying to pass off simulants as genuine diamonds.The lab says most fakes are easily spotted, but in the first of three cases a colorless 1.02-ct round brilliant gem bore a GIA number correspondin...Read More
(IDEX Online) - Alrosa today reported total rough and polished sales of $430m for January, up six per cent year-on-year.Demand was firming, especially in China and the USA, said the miner, which has allowed zero-buyouts during most of the pandemic.The figure was higher than for any month in 2020 apart from December, when the disposal of accumulated stock and sale of the record-breaking Spiri...Read More
(IDEX Online) - Petra Diamonds has outlined its 10-point plan for change at the Williamson mine, in Tanzania, following claims that its security staff had been "ruthless and militaristic" in their dealings with illegal diggers. It also provided details of some of the 79 recorded incursions onto its site in the three months to the end of January, to indicate the scale of the problem it faces. Petra...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 10.Please click...Read More
Tin's cash/three-month spread came to a new historic backwardation on Wednesday February 10, on the same day that a low dollar index propelled the futures contracts for all London metal Exchange base metals prices - except for zinc - to new 2021 highs. Tin's benchmark spread widened to a $2,490 per tonne backwardation during trading on Wednesday, the most on record, further proving the ongoing squ...Read More
Waiting times for aluminium at warehouses across Asia increased throughout January, according to the London Metal Exchange's latest queue report. New queues have emerged in the aluminium hub of Port Klang, Malaysia, with Istim warehouses no longer having the longest wait time. Waiting times for aluminium at Istim warehouses in Port Klang were at 23 days at the end of January, from 20 days at the e...Read More
Fastmarkets will publish its first low-carbon aluminium differentials on Friday March 5, one for primary aluminium (P1020A) and one for aluminium value-added products (VAP). The new pricing mechanisms will bring transparency to the growing industry for low-carbon aluminium products as the market tries to meet increased demand for a sustainable supply chain. The below infographic highlights how the...Read More
Trafigura is set to open an office in Toronto, Canada, to help foster links with mining companies based in the region, sources told Fastmarkets.The office will be helmed by zinc and lead concentrates trader Daniel von Arx, the sources said.Trafigura declined to comment.The eastern city of Toronto acts as a home for the marketing departments of many global mining companies with listings on the Toro...Read More
Trident aims to fill valuable nicheSPONSOREDtrident royaltiesOrion's work has verified known resources, and confirmed "outstanding" potential for growth, with exciting potential for strike extensions and high-priority electromagnetic targets located below theRead More
ArcelorMittal and Thyssenkrupp Steel have both recently announced successful testing of methods to reduce carbon emissions in blast-furnace steelmaking via coke gas and hydrogen, the companies have reported separately.ArcelorMittal has completed its coke gas injection project at the Alto B Furnace at its Gij??n operations, Spain. This is intended to reduce its CO2 emissions by 125,000 tonnes per y...Read More
Maximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesMount Polley, the site of a tailings dam failure in 2014, was suspended in May 2019 "pending improvement of the economics of mining". The mine had produced 2.3 million pounds of copper and 6,147 ounces of gold in the March 2019 quarter, less than half the output of the previous corresponding period, with recove...Read More
Steel production in Turkey in 2021 can return to the level seen in 2017, when the country produced 37.52 million tonnes, according to the Turkish Steel Producers' Association (T???oeD) - but only if the measures imposed to control the Covid-19 pandemic are reduced.Turkey produced 35.76 million tonnes of crude steel in the 12 months of 2020, a 5.99% year-on-year increase from the 35.74 million tonn...Read More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesEnvironmental and social governance (ESG) is critical to the success of miningSPONSOREDonyen corporationThe company reported 11m grading 2.79 grams per tonne gold, 4,04% copper and 330.8g/t sil...Read More
Domestic prices for steel hot-rolled coil across Europe were fairly stable over the week to Wednesday February 10, supported by good order books among EU steelmakers and good demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?708.33 ($856.64) per tonne on Wednesday, down by ?,?1.67 per tonne from ?,?710.00 per to...Read More
Base metals prices were putting in a strong performance on the last trading day before the Chinese New Year holiday, with all the metals, with the exception of an already-strong tin, seeing gains this morning, Wednesday February 10.* Bank loans in China were at new highs in January, with aggregate financing of 5.17 trillion yuan ($802 billion)* Optimism grows while focus is on vaccine rollout and...Read More
Domestic steel rebar prices in Southern Europe continued to slide for the second week in a row amid slow demand and a downtrend in the scrap segment, sources told Fastmarkets on Wednesday February 10. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?595-615 ($722-746) per tonne on Wednesday, down by ?,?5 from ?,?600-620 pe...Read More
The export billet price from the Commonwealth of Independent States region inched up on Wednesday February 10 after a booking to Turkey was heard done at higher levels. A cargo of CIS-origin billet was sold to Turkey at $530 per tonne fob Black Sea, several sources reported to Fastmarkets. This is up by $10-20 per tonne from previous sales heard earlier this month. This took Fastmarkets' daily ste...Read More
EAFE (EFA) moved above $75.75 to an all-time high extending an intermediate uptrend. Shanghai Composite Index moved above 3637.10 to a six year high extending an intermediate uptrend. American International Group (AIG), an S&P 100 stock moved above $42.57 extending an intermediate uptrend. Nvidia (NVDA), a NASDAQ 100 stock moved above $587.49 to an all-time high extending an intermediate uptre...Read More
Turkish scrap import prices rebounded from the bottom with at least two fresh deep-sea transactions, market sources said on Wednesday February 10. A steel mill in the Iskenderun region booked a Baltic Sea cargo, consisting of 18,000 tonnes of HMS 1&2 (95:5) at $399.50 per tonne cfr. And a steel mill in the Marmara region booked a European cargo at $395 per tonne cfr for HMS 1&2 (80:20), although t...Read More