Interview summary: Silver is just breaking out. Gold stocks are bargains. Gold miners are seeing their earnings grow as the price goes way up. No other industry can show this right now. People will probably make a killing in mining stocks. Upside potential is huge versus the downside risks. The US Dollar is heading for a crash. That is what gold price is telling you. Peter Schiff is an internation...Read More
Activity in the bulk import market for steel scrap sold to Bangladesh has increased over the past week, with fresh buying interest in Japan- and US-origin material, market sources told Fastmarkets on Thursday August 6.Market chatter on Thursday centered on fresh bids for Japan-origin scrap in bulk and renewed activity in the deep-sea import market for US West Coast scrap, at higher prices than the...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More
Independent financial analyst Matt Badiali tells a mind-bending tale about a gold project in Montana. This story is the stuff of myth. It will be retold, inflated, and gilded...especially if there's a discovery.It's a story about gold, a historical mining district, seizing opportunity and psychedelic mushrooms. I heard about it from a good friend. It was so far-fetched, I reached out to Warwick S...Read More
With the drill bit, Seabridge Gold intends to follow up on confirmed host stratigraphy and test new structures at its Snowstorm property. Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) is preparing to commence a follow-up drill program at its Snowstorm gold project in northern Nevada later in August 2020, it announced in a news release.The Toronto-based explorer plans to begin with a four-hole progra...Read More
Troilus Gold Corp. reported it is the first company to be granted ECOLOGO certification for responsible development for mineral exploration companies. Troilus GoldIn a news release, Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) announced that it is the "first mineral exploration company to obtain certification for UL 2723: ECOLOGO Certification Program for Mineral Exploration Companies."Troilus Gold...Read More
Fremont Gold is awaiting assays for the final six holes at the Griffon project. Fremont Gold Ltd. (FRE:TSX.V; FRERF:OTCQB; FR2:FSE) announced in a news release it completed the phase 1 drill program at its past producing Griffon gold project in Nevada's Cortez Trend.In this first segment of the campaign, the Vancouver, British Columbia-based mining company drilled a total of nine holes over 2,275...Read More
Dolly Varden Silver is focusing both on new targets and expansion drilling. Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCMKTS) commenced a 10,000 meter drill program at its flagship Dolly Varden property in northwestern British Columbia, it announced in a news release."Multiple silver-rich mineralizing systems, deposits and past producing mines present many target options for exploration at Doll...Read More
Turkish billet prices continued to increase over the past week on rising imported scrap values, however, demand for the material was limited, sources said on Thursday August 6.Export billet prices from the Commonwealth of Independent States (CIS) continued to increase this week in line with higher offers from mills, which global rising import scrap costs supported.Suppliers in the CIS raised their...Read More
The prices for steel billet imports and domestically produced steel rebar were stable in Egypt in the week to Thursday August 6, because of the Eid al-Adha religious holiday that ended on August 3 and the resulting reduced demand, sources have told Fastmarkets.Most market participants were still on holiday on Thursday and, with rebar consumption already subdued, there was hardly any buying activit...Read More
Crude steel, finished steel and hot metal output of the China Iron & Steel Association's (Cisa) member mills rose to record highs in late July, but steelmakers' finished steel inventories dropped sharply, according to data released late on Wednesday August 5.July 21-31 outputCrude steel: 2.39 million tonnes per day, up by 1.59%Finished steel: 2.40 million tpd, up by 6.89%Hot metal: 2.12 million tp...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.The United States will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada, President Donald Trump announced on Thursday August 6. The aluminium industry neither deserves nor can afford the shock that...Read More
This bull market can be more positive than the previous one both for gold and the mining stocks.In the last edition of the Fundamental Gold Report, I analyzed various WGC’s reports on the gold market. Today, I will focus on the issues of Alchemist – the flagship publication of the London Bullion Market Associations – I was unable to discuss during the most acute phase of the pand...Read More
End-user demand for steel in Mexico has improved and most sectors are performing close to pre-pandemic levels, according to Latin American steel group Ternium."Demand in the Mexican industrial sector is very good today," its chief executive officer M??ximo Vedoya said on Wednesday August 5.Among the sectors that are performing better are home appliances, automotive and infrastructure, he added.Mex...Read More
The aluminium industry neither deserves nor can afford the shock that would come from the United States' reintroduction of Section 232 tariffs on imports from Canada, according to Aluminum Association president and chief executive officer Tom Dobbins. Citing the latest government data from the US Census Bureau, Dobbins noted that US imports of primary aluminium from Canada were nearly 5% lower in...Read More
Brazil-based steelmaker Gerdau expects the metal spread in its North America division to remain stable in the coming months after the company was able to secure ferrous scrap at competitive prices, chief executive officer Gustavo Werneck said on Wednesday August 5.The company's metal spread - the premium between finished steel prices and scrap costs - averaged $415 per short ton in North America d...Read More
Turkey exported 616,565 tonnes of flat steel products in June 2020 up by 73.31% year on year from 355,753 tonnes in June 2019, according to the latest report from the Turkish Statistical Institute (TUIK).The country exported 2,694,952 tonnes of flat steel in January-June 2020, down by 11.29% from the 3,037,796 tonnes exported in the first six months of 2019.Additionally, Turkey's flat steel export...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.The United States will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada, President Donald Trump announced on Thursday August 6. The aluminium industry neither deserves nor can afford the shock that...Read More
Aluminium industry participants - many of which lobbied against Section 232 tariffs - respond to US President Donald Trump's decision to reinstate the tariffs on imports of non-alloyed unwrought aluminium from Canada.Michael Bless, chief executive officer of Century Aluminum Co and a strong supporter of the Section 232 tariffs, said that their reintroduction would continue to help drive the resurg...Read More
Sometimes it is better to let a situation speak for itself. Alcoa, Rio Tinto Aluminium, Novelis, Constellium, Arconic, Kaiser Aluminum, Tri-Arrows Aluminum, American Metal Chemical Corp, Hydro Extrusion North America, JW Aluminum, Real Alloy, Reynolds Consumer Products, Scepter, Silberline Manufacturing Co, Smelter Service Corp and Wagstaff. The US Aluminum Association, which represents more than...Read More