Golden Sky Minerals is advancing its properties in the Yukon in an area that has seen larger miners move in. Mining in Canada's Yukon Territory goes all the way back to the 1897 Klondike Gold Rush, so the region has a long history in mining and exploration.Today, mining is an important part of the Yukon's economy as it experiences a modern-day gold rush, Golden Sky Minerals Corp. (AUEN:TSX.V; LCK...Read More
Omineca Mining and Metals will kick off its maiden drill program shortly. WingdamIn a news release, Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) received the necessary permits for maiden drilling at Wingdam, which it will commence once it finishes final preparations, now underway. For its gold project in British Columbia's Cariboo Mining District, the company plans to diamond drill 2...Read More
Troilus Gold's PEA forecasts a high rate of return, low capex and rapid payback for Troilus project. Troilus GoldTroilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) announced in a news release the findings of a preliminary economic assessment (PEA) of its Troilus gold project in Quebec. "The PEA supports a combined open pit/underground mining scenario with low initial capital costs and high rate of return...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 2 that are worth another look.The premium for direct-reduced (DR) iron ore pellet for the third quarter of 2020 fell by 12.9% due to lower demand in the period, and market participants said the premium could fall...Read More
Prices for high-carbon and low-carbon ferro-chrome delivered in Europe have inched upward over the week ended Tuesday September 1, with participants returning to the market after the summer holiday break.Fastmarkets' weekly assessment of the price for ferro-chrome, high carbon, 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, rose by $0.01 per lb Cr or 1.1% to $0.81-0.95 per lb Cr on Tues...Read More
The price of hollow steel sections in the Northern European domestic market went up this week because of the current price surge in raw materials, market sources told Fastmarkets on Wednesday September 2.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?550-570 ($658-681) per tonne on Wednesday, up from ?,?540-565 per tonne one week earlier.The...Read More
Turkey exported 511,188 tonnes of flat steel products in July 2020, according to the Turkish Statistical Institute (TUIK), up by 10.36% year-on-year from 463,220 tonnes exported in July 2019.The main reason for the increase was the rise in tonnages of cold-rolled coil and coated coil exports in July.Turkey made several export deals for hot-dipped galvanized coil in May and June, which were deliver...Read More
Turkey imported 659,179 tonnes of flat steel in July 2020, up by 8.24% from 608,982 tonnes in July 2019, Turkish Statistical Institute (TUIK) said this week.The reason for the increase in imports was strong buying in May, when orders to be delivered in June were placed, Fastmarkets understands.Demand for flat steel is currently moderate in Turkey but prices have been increasing in line with rising...Read More
China's exports of four major steel products continued to fall on a year-on-year basis in July 2020, with shipments of hot-rolled coil and rebar down by 53.8% and 49.3% respectively, according to Chinese customs data.China's major steel exportsFlat steel: 2.55 million tonnes, down by 19.2% year on year, up by 15.9% from June 2020Steel bar: 470,000 tonnes, down by 44.7% year on year but up 17.5% mo...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 2 that are worth another look.The premium for direct-reduced (DR) iron ore pellet for the third quarter of 2020 fell by 12.9% due to lower demand in the period, and market participants said the premium could fall...Read More
Domestic prices for hot-rolled coil continued to rise in all parts of Europe over the week to Wednesday September 2, and were expected to increase further, market sources have told Fastmarkets.The upswing in domestic prices had support from a combination of a degree of seasonal demand improvement, reduced output from domestic mills resulting in longer lead times, a lack of competitive import offer...Read More
The three-month price of aluminium on the London Metal Exchange failed to breach nearby resistance at the close of trading on Wednesday September 2, despite reaching its highest price since January in the afternoon session, while a sharp decline in lead futures saw the metal lose 1.8% of its underlying price.Aluminium's outright price on the LME closed at $1,786 per tonne, a decline of more than 1...Read More
Prices for high-carbon and low-carbon ferro-chrome delivered in Europe have inched upward over the week ended Tuesday September 1, with participants returning to the market after the summer holiday break.Fastmarkets' weekly assessment of the price for ferro-chrome, high carbon, 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, rose by $0.01 per lb Cr or 1.1% to $0.81-0.95 per lb Cr on Tues...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 2 that are worth another look.The premium for direct-reduced (DR) iron ore pellet for the third quarter of 2020 fell by 12.9% due to lower demand in the period, and market participants said the premium could fall...Read More
Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More
The three-month price of aluminium on the London Metal Exchange failed to breach nearby resistance at the close of trading on Wednesday September 2, despite reaching its highest price since January in the afternoon session, while a sharp decline in lead futures saw the metal lose 1.8% of its underlying price.Aluminium's outright price on the LME closed at $1,786 per tonne, a decline of more than 1...Read More
The spread between copper scrap and refined copper continued to widen in August amid the copper price rally and minimal buying interest from the Chinese due to logistics and customs clearance worries in the coming months.Fastmarkets assessed the price of copper scrap No 2 copper (birch/cliff) imported into China 94-96% LME/Comex discount, cif China basis at 32-36 cents per lb on Friday August 28,...Read More
Iron ore prices gained ground on Wednesday September 2 in line with China's downstream steel futures price performance due to strong demand expectations for September and October, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.31 per tonne, up $2.65 per tonne 62% Fe low-alumina fines, cfr Qingdao: $127.90 per tonne, up $2.80 per tonne 58% Fe fines high-grade premium, cf...Read More
Silver is a "must own" asset in this environment. Using both 1970s inflation and Fibonacci analysis, if inflation surges as gold moves towards...by Stewart Thomson of Graceland UpdatesSep 1, 2020 1. While most of the Corona news is "baked" into the gold price, when the dust settles, $2000-$2500 is likely to be the new floor.2. Please click here now. The $1000 floor for gold took...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market under pressureUS prices for welded pipe products were under pressure because market participants, especially distributors, have started to take steps to generate cash and were moving material if they were able to do so, even if it meant selling at low prices.We expect more such "fire sales" in the coming months, bu...Read More