The company had announced an exit strategy for VNC in the France-governed island in the Pacific Ocean in December.Travers said Vale received some non-binding offers for VNC at the end of February and he did not believe the COVID-19 pandemic would impact the process too much."So we have a good level of confidence that we should be finding a potential investor in the next month or two," he said."So...Read More

Lundin Mining has cut its 2020 copper and zinc production guidance due to changes related to the Covid-19 pandemic and said forecasts for expanded zinc output next year at its Neves-Corvo mine in Portugal should no longer be counted on. The Toronto, Canada-headquartered company, which has not experienced significant disruptions to output, concentrate shipments or its supply chain, said 2020 group...Read More

Here are five Fastmarkets stories you might have missed on Thursday April 30 that are worth another look.Indian steel mills are unlikely to cut domestic hot rolled coil prices for sales in May, private mill sources in the country told Fastmarkets this week.ABN AMRO Bank has filed a claim against China's largest private copper smelter Dongying Fangyuan, according to a court document seen by Fastmar...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More

RambusBefore we look at tonight's Precious Metals charts I would like to make a comment on the US stock markets. I will take some flack over some of the comments I'm going to make but that's fine as it won't be the first time nor the last.Let me start by saying, "The only rule when it comes to trading the stock markets is, "There Are No Rules." The other important rule that I live by is that, "t...Read More

By: Gary SavageGold testing $1,800 resistance, traders should take note of this area and possibility for more bullion banks attacking the metal as they remain heavily short. In the general markets, we are nearing the upside target..http://blog.smartmoneytrackerpremium.com/Read More

By: Ira EpsteinGold is strong, hard to break it. A lot of money printed and about to be printed and I think this got the gold market's attention:Read More

The Turkish deep-sea scrap import market was almost silent again on Thursday April 30, with mills expecting even lower prices, sources told Fastmarkets.Overall demand for deep-sea scrap remains poor because of lower steel output and weak demand for finished steel, due to the measures put in place to curb the spread of the Covid-19 outbreak.At least six steelmakers have halted produc...Read More

Buying activity for ferrous scrap cargoes imported into South Korea has increased over the past week, with steelmakers looking to acquire Japanese material, market sources told Fastmarkets on Thursday April 30.South Korean scrap demand has not held up over recent months. The spread of the Covid-19 pandemic across the country has seriously reduced high-grade steel demand and even led to major produ...Read More

Prices for ferrous scrap imports into Bangladesh declined over the past week with buying activity held back by high stocks of material as well as the start of the Islamic celebration of Ramadan, sources told Fastmarkets on Thursday April 30.Prices in the Bangladesh market had been strong since the start of April, with higher offer prices from the US West Coast due to the low supply of material, to...Read More

A summary of Russian multi-metal miner Nornickel's production results for the first quarter of 2020. In brief: Despite a drop in base metals production in the first quarter of 2020, company chief executive officer Sergey Dyachenko said the Covid-19 outbreak has not had any adverse material impact on the company's operating results so far. The company's copper output decreased 9% year on...Read More

Base metals prices and global equity indices were holding up in high ground this morning, Thursday April 30, helped by the US Federal Open Market Committee's message of continued support, an expansion in manufacturing activity at China's larger factories, a stronger oil price and because state-sponsored inventory buying in China bodes well for the metals. Asian-Pacific and pre-market major western...Read More

A summary of US-based electric vehicle (EV) manufacturer Tesla's financial results for the first quarter of 2020.In brief Total revenues up by 32% year-on-year, which represents the best-ever first quarter for the company, in terms of both production and deliveries, despite a seasonally slower first quarter and the effect of lower EV deliveries by the end of March due to the global spread of Covid...Read More

Here are five Fastmarkets stories you might have missed on Thursday April 30 that are worth another look.Indian steel mills are unlikely to cut domestic hot rolled coil prices for sales in May, private mill sources in the country told Fastmarkets this week.ABN AMRO Bank has filed a claim against China's largest private copper smelter Dongying Fangyuan, according to a court document seen by Fastmar...Read More

Cold-rolled coil pushed up in Turkey's domestic market in the week to Thursday April 30, after a combination of Covid-19-related shutdowns, Ramadan and national holidays led to a shortage of hot rolled coil.CRC prices increased this week, with some Turkish mills offering CRC at $520-530 per tonne ex-works, up from $515-520 per tonne ex-works because of the HRC shortage.Overall demand for flat...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Oversupply to persist in North America as demand slumpsPrices for welded oil country tubular goods (OCTG) and linepipe weakened further in April nearing historical lows, and there may be room for further pipe price retreat through the second quarter. Supply of ERW OCTG and line pipe is expected to continue to outpace demand f...Read More

Domestic steel beam prices in the United States slipped in April on weaker demand and price reductions by mills, while import prices edged slightly higher in the face of collapsing demand due to foreign mills resisting price cuts. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US fell to $35.25 per hundredweight ($705 per short ton) on Thursday April 30, down by $1.25 (...Read More

Perry Gardner was 81 when he died.A former postal worker, Perry, and his wife moved to Florida after they retired.They had a beautiful home, a sizable nest egg, and the life they had always looked forward to.Unfortunately, Perry wasn't in the best shape.You see, about 10 years ago, Perry's knees started to give out.After years of wear and tear from walking his mail route, carrying multiple bags of...Read More

A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-March 2020.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda)1,068,037,000 Turkish lira ($153.07 million*), down by 38.36% from 1,732,790,000 lira in January-March 2019.Q1 2020 production, salesCrude steel production2.232 million...Read More

The Russian Steel Association has called for equal access to the country's railway infrastructure so that its members can export goods to eastern destinations, according to a local news report published earlier this week.Russian Steel unites the country's largest mining and steel companies.It filed an appeal to Russia's first deputy prime minister, Andrei Belousov, asking him to ensure that there...Read More