Galvalume prices in the United States surged to a record high for a fifth consecutive month, with buyer worries about finding material trumping concerns about cost. "Galvalume is probably backed up more than all coated products," one distributor source said. "Prices are crazy whenever supplies are available."Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US was at $8...Read More

Steel wire rod producers in the north of Europe have largely sold outof June-rolling material and have yet to announce offers for July, while buyers expect prices to rise sharply due to persistent material shortage, limited and expensive imports, Fastmarkets heard on Wednesday May 19Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was...Read More

Prices for steel hollow sections in Europe increased on Wednesday May 19, with some mills reportedly stepping out of the market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,220-1,250 ($1,489-1,525) per tonne on May 19, up from ?,?1,190-1,220 per tonne on May 12.Market participants told Fastmarkets that severa...Read More

Steel rebar prices in the north of Europe continued to increase in the week to Wednesday May 19, aided by limited imports and increased scrap costs, while buying activity started to slow. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?740-780 ($903-952) per tonne on May 19, up by ?,?20-40 per tonne week on week from ?,?720-74...Read More

Tax stability agreements made between mining companies and the government of Chile are designed to be non-negotiable and are expected to be respected if proposed changes to the country's royalty system are made, the chief executive officer of Teck Resources said.Chile's Senate will this week discuss a proposal recently approved in its lower house to introduce a controversial mining royalty bill th...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationWith an expected start-up output of 37,000 tonnes of copper a year and 51,000 ounces of gold, Winu will barely make a dent in the global metals market.Read More

Soaring global deep-sea ferrous scrap export prices are stoking increasingly bullish sentiment for the United States' upcoming domestic June trade despite a recent lack of US export sales.Higher offers for heavy melting scrap from the US East and West Coasts, which have now hit $510 and $540-550 per tonne respectively, failed to tempt US exporters into the market this week.But significantly h...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe delays have meant the company has not been able to take full advantage of the rising copper price, which last week hit an all-time high of US$10,747.50 per tonne.Last year's planned ramp-up to 5,000t per day was hobbled by COVID-19 impacts, the need for a geotechnical review and financial difficulties.&nb...Read More

The stainless scrap market in the United States is sluggish, with prices registering little growth and in some cases falling back."Despite [London Metal Exchange] nickel hovering over the $8.00-per-lb mark, austenitic stainless scrap prices continue to struggle," one scrap dealer source said."There must be ample supply to meet the consuming [stainless] mills' needs for nickel discounts to remain s...Read More

Look beyond market approach to project valuations: van ZylLeadershipStellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesPAM puts itself in the middle of Thailand 4.0SPONSOREDCopper supply struggling to match forecast demandSPONSOREDIt planned to use "a significant proportion" for opex and capex at its 30%-owned Red Chris mine, to repay debt and for general wor...Read More

U.S. equity index futures were lower this morning. The S&P 500 Index was down 42 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US82.87 cents prior to release of Canada's April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.5% in March. Actual was an increase of 0.5%. On a year-over-year basis, April CPI rose 3.4%.Take Two...Read More

Turkish steel mills resumed booking deep-sea scrap late on Tuesday, resulting in higher prices, sources told Fastmarkets on Wednesday May 19 - the start of a public holiday in the country.The Turkish import market had been quiet since the Eid al-Fitr holiday that began on Wednesday May 12. Monday and Tuesday May 17 and 18 were normal working days, but no bookings were done until late on Tuesday. A...Read More

Teck Resources plans to rebalance its portfolio to reduce its exposure to steelmaking coal and focus instead on growth in copper, the company's chief executive officer said. Don Lindsay told Bank of America's Global Metal, Mining & Steel conference that future growth in copper will come from a combination of organic growth at existing projects, exploration and strategic mergers and acquisitions. "...Read More

Prices for steel scrap cargoes exported from Japan rose again during the week to Wednesday May 19 amid a healthy appetite from both South Korea and domestic buyers, market participants told Fastmarkets.The sharp decline in Chinese ferrous futures and spot market prices this week has done nothing to stop the rise of the Japan scrap market, with a further increase in offer prices recorded across all...Read More

Iron ore prices fell sharply on Wednesday May 19, with low liquidity and sintering restrictions in Tangshan driving the downturn, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $216.16 per tonne, down $8.28 per tonne62% Fe low-alumina fines, cfr Qingdao: $218.79 per tonne, down $8.98 per tonne58% Fe fines high-grade premium, ...Read More

Seaborne hard coking coal prices in the fob market gained support from restocking activity on Wednesday May 19, whereas major buyers in the cfr market stood on the sidelines, market sources said.Fastmarkets indices Premium hard coking coal, fob DBCT: $129.18 per tonne, up $5.50 per tonne Premium hard coking coal, cfr Jingtang: $269.78 per tonne, down $3.37 per tonne Hard coking coal, fob DBCT: $11...Read More

China's domestic rebar prices fell rapidly on Wednesday May 19 on softer demand as a result of rain.DomesticEastern China (Shanghai): 5,370-5,400 yuan ($836-840) per tonne, down by 180 yuan per tonneHeavy rain in many parts of eastern and southern China during the day affected both construction activity and transportation.With wet weather forecast to continue over the next day days, market partici...Read More

Base metals prices on the London Metal Exchange dipped slightly across the board during morning trading on Wednesday May 19, following a week of volatility and a growing sense of unease. "Although the first trading week of May looked super bullish, I am not in the camp that base metals can hold on to the gains made. Instead, I envisage the monthly close to turn negative," Fastmarkets analyst Andy...Read More

- Summer exploration program will be designed to assess a number of targets that have seen little or no historic drilling- Potential joint-venture partners have expressed interest in Keystone- Identification, qualification, and prioritization of the targets is ongoing by means of detailed surface geology, geochemistry, geophysics, and Leapfrog 3D modeling using surface and drill hole geologic inf...Read More

The cobalt market has started operating with more efficiency and transparency, which in turn, should make it easier to plan for battery-related demand, panelists said during the Cobalt Institute's annual conference on May 18-19. The cobalt market faces the challenge of bringing sufficient material online to meet demand from the growing battery sector, while simultaneously filtering through varying...Read More