Here are five Fastmarkets stories you might have missed on Monday April 12 that are worth another look.Tata Steel has introduced carbon surcharges on steel products manufactured in Europe to balance the rising cost of such emissions, the company's spokesman told Fastmarkets on April 12.Rio Tinto and Turquoise Hill...Read More
NextSource Materials, a battery materials development company in which Sir Mick Davis' Vision Blue Resources is an investor, said it has entered into a partnership with two companies within the Tesla supply chain.Toronto, Canada-based NextSource, which is developing the Molo graphite mine, added that it has finalized a binding agreement to construct and operate a battery anode facility to produce...Read More
Jack ChanPosted Apr 12, 2021Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal.Short-term signals can last for days and weeks and are more suitable for traders. COT data is supportive for overall higher gold prices.COT data is supportive for overall higher silver prices.Gold is bounci...Read More
The three-month nickel price was down by the greatest percentage on the London Metal Exchange at the close on Monday April 12, with Chinese warnings of higher prices over the weekend driving the entire complex down as well. The stainless steel additive was down to $16,134 per tonne on Monday, its lowest in two weeks, following a 1.2% drop on Friday to $16,628 per tonne. Nickel, along with the rest...Read More
Here are five Fastmarkets stories you might have missed on Monday April 12 that are worth another look.Tata Steel has introduced carbon surcharges on steel products manufactured in Europe to balance the rising cost of such emissions, the company's spokesman told Fastmarkets on April 12.Rio Tinto and Turquoise Hill...Read More
"Comments from Chinese Premier Li Keqiang weighed on markets as it is the second time in just a few days top officials talk about cost controls after last year's surge in commodity prices," Marex Spectron's Anna Stablum said.Nickel closed down almost 3% on the London Metal Exchange and copper was down 0.79% to US$8,864.25 per tonne.Gold has ranged from about $1,684 to $1,756 an ounce over the past...Read More
National Iranian Copper Industries Co's (NICIC) three copper-related projects will come online this year to produce an extra 400,000 tonnes of copper concentrate, according to local media reports. That could bring in an estimate revenue of $800 million to the company, which was established by the Iranian state and was subsequently privatized, according to a Tehran Times report on April 6 that cite...Read More
Seaborne low and high-grade manganese ore prices continued to fall in the week to Friday April 9 while market activity was light and sentiment continued to drop concurrent with pricing expectations among participants from both sell and buy sides failing to approach portside prices levels.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was calculated at $4.49 per dmtu on Friday April 9, down...Read More
The latest data for the global manganese ore market for the week ended April 12, 2021.Read More
Key data from the pricing session in London on Friday April 9. Key drivers Buyers have started to resist numbers above $3,100 per tonne while shipment offers from China kept falling and end-user demand has started to slow.Still, tight prompt availability in Europe and continuing shipping delays from China are supporting prices above...Read More
The pace of decline in the Chinese cobalt sulfate market eased on Friday April 9 after aggressive offers for scrap-fed material started to disappear. Lower offers for cobalt sulfate produced from scrap has put downward pressure on the whole market since the second half of March. They prompted most sellers to continue lowering offers for sulfate produced from hydroxide (regular-fed material) t...Read More
Turkish domestic auto bundle scrap prices have increased slightly over the past week, but ship scrap prices were fairly stable, market sources said on Monday April 12.In response to the upturn in imported scrap values over the past week, a number of steel mills have raised their buy prices for domestic auto bundle scrap.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix),...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were weaker this morning, Monday April 12, while markets contend with cross winds.United States treasury 10-year yields have pulled back from recent highs Federal Reserve Chairman Jerome Powell said US economy at an "inflection point" with growth and hiring set to accelerateMarkets wary of US earnings season in case resu...Read More
NextSource Materials, a battery materials development company in which Sir Mick Davis' Vision Blue Resources is an investor, said it has entered into a partnership with two companies within the Tesla supply chain.Toronto, Canada-based NextSource, which is developing the Molo graphite mine, added that it has finalized a binding agreement to construct and operate a battery anode facility to produce...Read More
The pace of decline in the Chinese cobalt sulfate market eased on Friday April 9 after aggressive offers for scrap-fed material started to disappear. Lower offers for cobalt sulfate produced from scrap has put downward pressure on the whole market since the second half of March. They prompted most sellers to continue lowering offers for sulfate produced from hydroxide (regular-fed material) t...Read More
Chinese automotive production jumped by 71.6% annually in March to 2.462 million units, providing strong support for upstream metal prices. The China Association of Automobile Manufacturers (CAAM) attributed the strong recovery in automotive output to the government's efforts to control the Covid-19 pandemic. Output was also 63.9% higher than that in February, indicating steady growth in industria...Read More
Here are five Fastmarkets stories you might have missed on Monday April 12 that are worth another look.Tata Steel has introduced carbon surcharges on steel products manufactured in Europe to balance the rising cost of such emissions, the company's spokesman told Fastmarkets on April 12.Rio Tinto and Turquoise Hill...Read More
At PDAC 2021, we spoke with Michael Collins, the CEO of Exploits Discovery Corp. (CSE: NFLD, OTCQB: NFLDF, FSE: 634-FF), a Canadian mineral exploration Company that controls the largest land package in Newfoundland, Canada. The Company holds 100% interest in seven known, exceptional gold projects, including the Jonathan's Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend and Gazeebow...Read More
Brazilian flat steel makers applied a new round of price increases in the first week of April, sources have told Fastmarkets.Sellers have been announcing increases of 5-12% in the first two weeks of the month, market sources said.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, reached 6,133-6,224 Reais ($1,079-1,095) per tonne on Friday April 9, up b...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? There is no end in sight to the shortfall in flat steel supply that has characterized US markets in early 2021, and we expect record-high US pricing for hot-rolled coil to persist through the second quarter of 2021 and into the second half of the year. We are fo...Read More