Mexican ferrous scrap prices were largely stable in the week ended Friday May 7, with some sellers heard applying price increases due to strong demand and limited availability of certain grades.Shredded scrap in both Monterrey and Bajio and plate and structural scrap in Bajio were the only prices to increase in Fastmarkets' weekly assessment. While there were reports of price i...Read More
Turkish steel producers continued to pay higher prices for deep-sea scrap after securing more billet sales into China, market participants told Fastmarkets on Tuesday May 11.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $495 per tonne and plate and structural (P&S) at $505 per tonne cfr. The cargo breakdown was not clear at the time of publication.The...Read More
Prices for steel scrap imported into China increased further on Tuesday May 11 after the highest bid price at the bellwether Japan Kanto Tetsugen increased by ?5,899 yen ($54.21) per tonne month on month.The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export auction on Tuesday with the highest bid price at ?49,279 ($453) per tonn...Read More
Base metals prices on the London Metal Exchange were consolidating this morning on Tuesday May 11, after having pulled back from high ground on Monday while base metals on the Shanghai Futures Exchange were, for the most part, weaker. Broader markets seem to be getting nervous about inflation, with roaring commodity prices not helping. China's consumer and producer prices up significantly. But, US...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were, for the most part, a lot stronger this morning, Monday May 10, but broader markets were mixed.Friday's United States employment report was much weaker than expected, suggesting the Federal Reserve will remain on its current tack That report boosted equities, reducing the likelihood of a broader market correctio...Read More
Share this article VANCOUVER - West Mining Corp. [WEST-CES; WESMF-OTC, 1HL-FSE] on Tuesday May 11 released a new resource estimate for its 100%-owned Kena-Daylight gold and copper property in southeastern British Columbia.According to a NI 43-101-compliant technical report, the property contains 2.8 million ounces of gold in the inferred category and 561,000 of gold in the indicated category.West...Read More
Pilbara Minerals is targeting "mid-stream" lithium salts production to achieve a greener and better supply chain, Dale Henderson, the Australia-listed lithium miner's chief operating officer, said during an investor meeting on Tuesday May 11. Prior to the meeting on Tuesday, the miner announced that it would work with Sydney-based technology company Calix Limited on a scoping study on a new refini...Read More
Pilbara Minerals has signed a memorandum of understanding with Sydney-based technology company Calix Limited to jointly undertake a scoping study to evaluate a new refining process, the Australian lithium miner said on Tuesday May 11. If the results of the scoping study - which will run until late 2021 - are positive, the two companies will set up a joint venture to develop a demonstration plant t...Read More
We learned from Matt Simpson, CEO of Brazil Potash that they are advancing its Autazes Potash project to the construction phase and are seeking to broaden its shareholder base, prior to conducting a future planned public listing. The Company has raised in excess of US$198 million since inception, permitted a 250 mile long, by 90-mile-wide ore basin, completed a Bankable Feasibility Study (BFS) and...Read More
Biotechs have been a great investment for the past 10 years. Faster computers, big data processing, and advancements in understanding DNA have created new cures for everything from certain types of cancer to hepatitis C.If you had put $10,000 into the VanEck Vectors Biotech ETF (BBH) 10 years ago, you'd have $144,000 today.The BBH chart is bullish. It shows a consolidation pattern from 2015-2020 f...Read More
The global mineral industry will have to rapidly scale up production to meet surging demand from the new energy sector, the International Energy Agency (IEA) has warned.To reach the target of net-zero emissions by 2050, the energy sector will be consuming minerals at six times the current rate by 2040, the IEA forecast in a special report on Wednesday May 5. "Today, the data shows a looming mismat...Read More
The uptrend in the export market for flat-rolled steel products from the Commonwealth of Independent States continued in new sales during the week to Tuesday May 11 amid strong demand globally, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $1,020-1,055 per tonne on May 11, up from $1,000-1,020 per tonne a week before.A sale of Ukraine-...Read More
Flat steel prices in Russia's Central Federal District around Moscow moved up on new bullish offers for June material, supported by growing exports and strong local buying activity, sources told Fastmarkets onTuesday May 11.Hot-rolled sheetHot-rolled sheet was on offer from Severstal to traders for June delivery at 104,000 roubles ($1,405) per tonne, sources said, compared with 92,000 roubles per...Read More
Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on May 10.Consuming...Read More
Rebar and wire rod export prices from the Commonwealth of Independent States increased significantly over the past week, supported by favorable market conditions due to strong domestic demand in Russia, higher prices from competitors - particularly Turkey - and increased global scrap costs.RebarUkraine-origin rebar was available to foreign customers at $690 per tonne fob Black Sea at the end of la...Read More
The Egyptian government announced details of its trial period for the reintroduction of construction permits in an official statement published on Sunday May 9, sources have told Fastmarkets.According to the statement, construction permits will be issued in 27 cities for a period of two months, and will then be available in all cities across Egypt from July 1, 2021.Egypt has had a ban on construct...Read More
Prices for steel billet and rebar were stable in the United Arab Emirates during the week to Tuesday May 11 because of the start of the Eid Al-Fitr holiday in the country, sources told Fastmarkets.Most buyers, however, expect prices to increase by a minimum of $50 per tonne once holidays are over in the next week, Fastmarkets heard.The reason behind buyers' increased price expectations is high ste...Read More
Mexican ferrous scrap prices were largely stable in the week ended Friday May 7, with some sellers heard applying price increases due to strong demand and limited availability of certain grades.Shredded scrap in both Monterrey and Bajio and plate and structural scrap in Bajio were the only prices to increase in Fastmarkets' weekly assessment. While there were reports of price i...Read More
Turkish steel producers continued to pay higher prices for deep-sea scrap after securing more billet sales into China, market participants told Fastmarkets on Tuesday May 11.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $495 per tonne and plate and structural (P&S) at $505 per tonne cfr. The cargo breakdown was not clear at the time of publication.The...Read More
**This webcast aired on Friday May 7th, 2021**Join Hedgeye CEO Keith McCullough and Danielle DiMartino Booth, former Fed advisor and Chief Strategist at Quill Intelligence in this special investing discussion. They will discuss important market implications in the wake of the COVID-19, particularly the extraordinary fiscal and monetary mess D.C. bureaucrats and policy wonks have created.Danielle D...Read More