WASHINGTON, Nov 5 (Reuters) - U.S. job growth likely accelerated in October as the headwind from the surge in COVID-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum early in the fourth quarter.But the Labor Department's closely watched employment report on Friday is expected to show worker shortages persisting, even after federal governme...Read More
The north China steel production hub of Handan city in Hebei province has implemented stricter production cuts at steel mills from Monday November 1 to November 7.The move has been made is to mitigate weather-influenced air pollution over the period and comes just after the city finished implmenting steel production curbs in September and October to limit the crude steel output in line with China'...Read More
The downward pressure on flat-rolled steel import prices in South America persisted in the week ended Friday November 5, with buyers still cautious of ordering January-shipment cargoes while gauging future demand and overall pricing trends.More market participants expressed their fears during the week regarding an export duty being imposed on steel products from China from January 2022. They said...Read More
HONG KONG, Nov 5 (Reuters) - This was supposed to be Jack Ma's finest hour: a year ago to the day, his Ant Group was meant to go public in a $37 billion blaze of glory. Instead Beijing reined in his empire, abruptly clipping the wings of corporate China's biggest star.Now, to the cautious cheer of investors, the billionaire Alibaba (9988.HK) e-commerce tycoon is taking his first tentative steps...Read More
Ferrous scrap prices in the global markets were unstable in the week ended Friday November 5 because deep-sea import prices in Turkey, the biggest scrap importer, fell earlier. But they rebounded toward the end of the week, while suppliers in the United States were able to resist the decline because of strong domestic demand. Turkish import prices rebounded late in the week Strong domestic demand...Read More
The export pig iron market from the Commonwealth of Independent States softened in the week ended Thursday November 4 due to demand from the United States at lower prices than neighboring markets.Fastmarkets' price assessment for high-manganese pig iron export, fob main port Black Sea, CIS $520-545 per tonne on November 4, down from $550 per tonne a week before.Buyers in the United States, who hav...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...Read More
Seaborne cfr coking coal prices dropped slightly on Friday November 5 with no trading activity, sources said, while ow-volatility PCI prices also declined following the downtrend in thermal coal prices.Fastmarkets daily indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, down $0.63 per tonneHard coking coal, cfr Jingtang: $525.23 per tonne, unchangedPremium hard coking coal, fob DBCT...Read More
Spot prices for hot-rolled coil in China edged lower on Friday November 5, while futures prices set a new nine-month low.DomesticEastern China (Shanghai): 4,960-5,000 yuan ($775-781) per tonne, widening downward by 20 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,030-5,090 yuan per tonne, down by 260-270 yuan per tonne Spot HRC prices in eastern China ended the week down by 340-370...Read More
Data collected on the trading trends of silver in the past 40 years has yielded a nearly perfect...by David Morgan of The Morgan ReportIf their money had no value, silver would.The silver market, like other commodities such as soybean and cotton, are all derivatives. The price settlement mechanisms for these is a contract. For example, thousands of theoretical silver ounces are traded daily. While...Read More
More printing than we could imagine will occur in the next 10 years...By Matt from Silver Fortune via Silver Fortune More printing than we could imagine will occur in the next 10 years.Don't forget to check out Zero Sum, the first book in a series. *** Please Note: If our comment section looks different, it's because we were served notice today that our commenting partner has terminated their rela...Read More
New life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldPolarX finds extra copper potential in AlaskaSPONSOREDpolarxAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningThe strong figures belie some of the challenges that achieving those results entailed and those yet to come as t...Read More
Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...Read More
Impressive? The December quarter promises to be even better, president and CEO Clive Johnson told Mining Journal.Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipPolarX finds extra copper potential in AlaskaSPONSOREDpolarxNew life for one of New Zealand's oldest gold minesSPONSOREDoceanagoldThe Mike Haynes-led company has reported a maiden resource of 7.7 million tonnes grading 2.2% copper and 5.3% zinc plus minor lead-silver-gold v...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
Low-carbon aluminium differentials in Europe have widened after this week's United Nations environmental conference, COP26, put sustainability in the spotlight.Fastmarkets assessed the aluminium low-carbon differential P1020A, Europe, at $0-10 per tonne, up from $0-7 per tonne in the previous assessment on October 1."We would be looking for $10 per tonne minimum right now, and I think that is tota...Read More