Peruvian copper mine Antamina is still uncertain when it will be able to resume operations following a workforce demobilization due to the Covid-19 pandemic, the company said on Monday April 27.The mine underwent a stoppage on April 13, under which most workers still on-site were removed. Up to that date, around 2,700 people were still working at Antamina - an already reduced figure from the 6,000...Read More

Jack ChanPosted Apr 27, 2020Gold 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.Speculation continues to drop despite higher prices.Speculation is dropping despite recovering prices.Our ratio remains on b...Read More

Most commodity prices rose yesterday on the London Metal Exchange, where copper gained more than 1%.The global number of COVID-19 cases has risen above 3 million, according to Johns Hopkins University, while the World Health Organisation put the figure yesterday about 2.88 million and noted Spain had changed its reporting criteria which meant a decrease of 12,130 cases.The S&P 500 had closed u...Read More

First Quantum has cut its 2020 copper production guidance by 75,000 tonnes to 755,000-805,000 tonnes as a result of a reduction in production expectations at Cobre Panama due to the Covid-19 pandemic.This guidance range is dependent upon the Toronto, Canada-listed company receiving approval from Ministry of Health of the Republic of Panama (MINSA) to commence the restart of operations before or by...Read More

Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF |FRA:WK3D) (the "Company" or "Siyata") is pleased to announce the launch of the 4G/LTE UR5 rugged device for the first responder and enterprise mobile workforce. The UR5 is "Rugged and Ready" to handle the most vigorous work environments encountered by enterprise workers and first responders on the front line of defense.The UR5 i...Read More

The company previously set full-year mining services EBITDA guidance at $280-300 million.Read More

Brazilian base metals producer Nexa Resources will prepare to resume normal operations during the latest extension of Peru's quarantine measures to prevent the spread of Covid-19, the company said on Monday April 27.Metal concentrate production at the Atacocha, Cerro Lindo and El Porvenir mines will remain halted, while the Cajamarquilla zinc-copper smelter will continue to run at lower capacity u...Read More

Treatment charges (TCs) for spot zinc concentrates nosedived in April amid prolonged shutdowns in major producing nations of Peru, Bolivia, Mexico and South Africa, leaving smelters scrambling for material. Fastmarkets assessed the zinc concentrate TC, cif China at $180-195 per tonne on Friday April 24, a steep 28.6% fall from $255-270 per tonne the previous month. The low end of the range ha...Read More

No one anticipated negative crude oil even in the wildest of the dreams. A whooping negative -$40.32 was historic. The coming generations will have a chapter in their MBA course as to why crude oil prices reached -$40.32. The trading lesson is simple, when price move as per fundamentals, never trade against it. Silver has not risen as it is an industrial metal. Investment demand for silver lags...Read More

Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More

More provincial governments in China are offering incentives to companies to purchase base metal products, in a highly unusual move to avoid inventory piling up at a time of demand uncertainty, Fastmarkets understands from official documents and industry sources.The last time the Chinese government bought metal stocks to relieve inventory pressure was more than a decade ago following the financial...Read More

The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More

Turkish deep-sea scrap import prices dropped sharply at the start of the week on news of a fresh Baltic Sea cargo deal, sources told Fastmarkets on Monday April 27.A steel producer in the Marmara region booked a Baltic Sea cargo comprising 26,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 4,000 tonnes of bonus at $252 per tonne cfr.This compares with previous Baltic Sea deals done at $255-256...Read More

Turkish domestic scrap prices have increased over the past week amid limited supply, especially in the Marmara region, sources said on Monday April 27.At least two steel mills in the Marmara region have increased their buy prices for auto bundle scrap by 70-80 lira ($10-12) per tonne over the past week to be able to secure more material.Long and flat steel mill ??olakoglu increased its buy price f...Read More

First Quantum has cut its 2020 copper production guidance by 75,000 tonnes to 755,000-805,000 tonnes as a result of a reduction in production expectations at Cobre Panama due to the Covid-19 pandemic.This guidance range is dependent upon the Toronto, Canada-listed company receiving approval from Ministry of Health of the Republic of Panama (MINSA) to commence the restart of operations before or by...Read More

The team from Commerzbank clinched the top spot on the base metals leaderboard for the first-quarter 2020 base metals predictions with 97.98% accuracy while Glyn Lawcock of UBS took the top spot for precious metals predictions over the period with a 93.58% accuracy rating. For steel raw materials, Chris LaFemina of Jefferies topped the leaderboard with a 98.86% accuracy score. Click on the image b...Read More

Metals prices were for the most part stronger this morning, Monday April 27, as were Asian-Pacific equity indices, while gold prices were slightly weaker and US treasury yields were firmer - all suggesting a broad risk-on mood.Market participants seem to be focused on and optimistic about the plans for the gradual reopening of economies while countries get a handle on the Covid-19 pandemic. Pre-ma...Read More

Share this articleVANCOUVER - Silvercorp Metals Inc. says it has struck a deal to buy Guyana Goldfields Inc. in a cash-and-shares transaction worth about $105 million.The two Canadian miners say the transaction will create a diversified company by combining Silvercorp's two underground silver mining operations in China with Guyana Goldfields' Aurora gold mining operation in Guyana.Guyana Goldf...Read More

Cobalt sulfate prices have managed to take a pause from the persistent downturn since mid-February despite lingering weak demand from electric vehicles (EVs), the major downstream consumer, Fastmarkets understands.Fastmarkets' cobalt sulfate 20.5% Co basis, exw China price was assessed at 43,000-45,000 yuan ($6,074-6,357) per tonne on Friday 24, unchanged for the fifth pricing session in a ro...Read More

After a consultation period, Fastmarkets has amended the frequency of its cobalt hydroxide payable indicator, min 30% Co, cif China, to twice weekly. From May 1, Fastmarkets will publish the cobalt hydroxide payable indicator every Wednesday and Friday. The frequency increase reflects market feedback and a review of typical data sets that are collected over the course of the week, both of which su...Read More