A summary of Peru-based miner Buenaventura's production figures and financial results for the second quarter of 2020, as stated in its earnings report published on Thursday July 30.In brief Mine production fell sharply during the second quarter from a year before, because units had to be closed to comply with the state of emergency declared by the Peruvian government in light of the Covid-19 pande...Read More
Adam HamiltonArchivesJul 31, 2020 The gold miners' stocks have rocketed higher this summer, smashing out of their usual summer-doldrums sideways grind. That atypical strength has been driven by gold steadily marching to major new secular highs, fueled by strong investment demand. This has carried gold stocks and the metal they mine back to their traditional strong season, which begins with robust...Read More
Fastmarkets' copper concentrates treatment and refining charge (TC/RC) index retreated on Friday July 31 due to continued supply concerns related to Covid-19 shutdowns after more copper producers cut their 2020 production guidance this week. Traders are offering clean copper concentrates into the Chinese market in the high $40s per tonne / 4cents per lb and deals have been heard at that level. A...Read More
* Q2 profit down 70% y/y, revenue down 31% y/y * Sees no improvement in Q3 sales and profit from Q2 * Does not reinstate full-year earnings guidance* Share repurchases to remain suspended this year (Adds CEO's quote, details from earnings call, updates shareprice)By Rajesh Kumar SinghCHICAGO, July 31 (Reuters) - Caterpillar Inc onFriday predicted no improvement in equipment sales, an outlookthat s...Read More
Spot cobalt hydroxide prices rose above $10 per lb in July due to resumed appetites for prompt cargoes amid a limited availability of seaborne units and buyers' attempts to reduce exposure to price uncertainty.Fastmarkets' cobalt hydroxide index, Co min 30%, cif China was calculated at $10.41 per lb on Friday July 31, up 5.8% from $9.84 per lb at the end of June.Spot deals were concluded in the lo...Read More
Ferrous scrap prices in all the key global markets continued to surge upward in the week ended Friday July 31, with Turkey again achieving higher prices through the week and pushing up those in other regions.Turkey books more cargoes at higher pricesUS market upbeat on recent tradesVietnam scrap prices continue to riseTaiwan prices up with sellers holding back materialIndia reports surge in prices...Read More
The Turkish steel scrap import market was quiet on Friday July 31 because of the Eid al-Adha religious holiday across the region, with no bookings heard and prices flat as a result.Earlier in the week and late last week, however, a number of cargoes were booked.Late on July 24, a steel mill in northern Turkey booked a United States-origin cargo comprising 15,000 tonnes of shredded at $275 per tonn...Read More
The inter-merchant spot market for light iron scrap in the UK was unchanged in the week to Friday July 31, with prices remaining firm and expectations of increases to come, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?85-95 ($111-124) per tonne on Friday.Material availability kept the p...Read More
Some hesitation in the base metals prices on Thursday was short-lived, with all the prices up this morning on Friday July 31 by an average of 0.5%, with stronger economic data out in Asia, earlier in the day, which boosted sentiment. China's manufacturing purchasing managers index (PMI) for July climbed to 51.1 from 50.9 in June. Japan's preliminary industrial production climbed 2.7% in June, afte...Read More
Spot cobalt hydroxide prices rose above $10 per lb in July due to resumed appetites for prompt cargoes amid a limited availability of seaborne units and buyers' attempts to reduce exposure to price uncertainty.Fastmarkets' cobalt hydroxide index, Co min 30%, cif China was calculated at $10.41 per lb on Friday July 31, up 5.8% from $9.84 per lb at the end of June.Spot deals were concluded in the lo...Read More
Share this articleTORONTO - Centerra Gold Inc. is boosting its quarterly dividend by 25 per cent after reporting that earnings soared in its latest quarter on a 21-per-cent boost in revenues.The Toronto-based mining company says it will pay five cents per share, up from four cents.Centerra earned US$80.7 million or 27 cents per share in the second quarter, up from US$33.4 million or 11 cents per...Read More
The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $13.75-14.20/lb on Friday July 31, 2020. Bid at $13.80...Read More
The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
Well, I think we can say it officially happened...The price of gold increased to $2,000 an ounce for the first time in history.And despite hitting its head on the ceiling, all signs are still pointing to higher prices from here.Shaking off profit-taking in the Western markets yesterday, gold for December delivery (the most active futures contract) increased to $2,005.40 per ounce last night.As I m...Read More
Flat-rolled steel import prices were up in South America this past week, with mills continuing to offer at higher levels and clients still getting ready to negotiate October-shipment cargoes.There were more price increases during the week, particularly from China, but most offers were either not directly presented to customers or not yet countered by them, market participants said."[The comin...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday July 31 due to the seasonal market slowdown, but sentiment in the market remained positive, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?412.50 ($486.30) per tonne on Friday, down by ?,?0.45 per tonne from ?,?412.95 per tonne...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Global markets for coated steel continue to run at different speeds with regards to pricing at the start of the summer season in the northern hemisphere. In Asia, prices continue to rise although, as we note in our Asia analysis this month, much of this is merely cost inflation with steelmakers passing on higher substrate cos...Read More
United States' mills list prices for domestic steel beams have held their ground even with mills offering rebates, while prices for imported product have fallen, sources said, noting the steel industry is seeing steady to improving demand.Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US held at $35.25 per hundredweight ($705 per short ton) on Thursday July 30, unc...Read More
Steel industry associations praised the passage of a measure that would ensure adequate funding for trade enforcement activities conducted by the International Trade Administration's Office of Enforcement and Compliance (E&C) to ensure adequate resources to enforce US trade laws."The US House of Representatives today passed an amendment, introduced by the leaders of the Congressional Steel Caucus,...Read More
Indian blast furnace-grade billet export prices have increased by $5 per tonne in the week to Friday July 31, with China being a major buyer along with Southeast Asian countries.Fastmarkets assessed steel billet export, fob main port India at $400-405 per tonne on Friday, up by $5 per tonne from last week's assessment of $395-400 per tonne.Both private sector and government-owned mills have been s...Read More