The inter-merchant spot price for light iron scrap in the UK has edged up over the past week, climbing by ?5 ($6) per tonne amid increased competition among some major shredders for feed, while a slowdown in export markets has limited stronger advances, sources said on Friday May 1.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, wa...Read More
The sharp decline in emerging market currencies combined with a collapse in oil prices are providing a twin saving grace for many metals and mining companies during the Covid-19 pandemic. For producers of energy-intensive metals like aluminium, and in particular the low-cost ones, the benefit is even greater. It's an emerging trend that is starting to be reflected in the earnings of corporates in...Read More
TORONTO - Through an emergency order passed today, the Ontario government is taking steps to defer a portion of Global Adjustment (GA) charges for industrial and commercial electricity consumers that do not participate in the Regulated Price Plan for the period starting from April 2020. This initiative is intended to provide companies with temporary immediate relief on their monthly electricity bi...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Share this articleTORONTO - Shares in Agnico Eagle Mines Ltd. rose Friday after it released new production guidance and reported a first-quarter loss linked to temporary mine shutdowns to control spread of the COVID-19 pandemic.Agnico Eagle shares on the Toronto Stock Exchange rose by as much as 6.8 per cent or $5.53 to $86.86 before dropping back to $83.86 at 11 a.m. EDT.The Toronto-based gol...Read More
Share this articleSASKATOON - Cameco Corp. says spot uranium prices are up amid the production disruptions caused by the COVID-19 pandemic.The company says the uranium spot price has increased by more than 35 per cent since the company announced the first disruption at its Cigar Lake mine on March 23.The comment came as Cameco reported a first-quarter loss of $19 million or a nickel per share com...Read More
Share this articleCALGARY - Teck Resources Ltd. is leaving the Canadian Association of Petroleum Producers, an industry organization whose members represent about 80 per cent of Canada's oil and gas production.The move was made as part of a cost-cutting drive, Teck spokesman Chris Stannell said in an email, noting the company's 2019 CAPP membership cost about $135,000.Teck is targeting $1 bi...Read More
The Chinese domestic spot battery-grade lithium carbonate price fell by 1.1% on Thursday April 30 with buyers still reluctant to accept higher prices amid poor downstream consumption. China's battery-grade lithium carbonate price narrowed downward, reflecting buyers' reluctance to accept higher prices. Asian seaborne spot market quiet, keeping prices rangebound. Europe, US spot market st...Read More
Outright cobalt hydroxide prices came under pressure in April with limited demand from end-users in Asia outweighing the impact of delays and supply uncertainty stemming from South Africa's lockdown. Fastmarkets' cobalt hydroxide index, min 30% Co, cif China, was calculated at $9.98 per lb on Thursday April 30, down by 9.27% from $11 per lb at the end of March. The monthly index is a tonnage-weigh...Read More
Domestic prices for hot-rolled coil in Europe were largely stable day on day on Friday Monday 1, but sentiment in the market remains negative, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?425.63 ($463.83) per tonne on Friday May 1, down by ?,?0.08 per tonne from ?,?425.71 per tonne on April 30.Friday's index was calculated base...Read More
A friend texted me on Monday afternoon, "I'm 174,000 person in line.""For what?!," I responded."To use Maryland's unemployment website," she sent along with this screenshot:At 174,370 in line, there were more than three baseball stadiums full of people waiting ahead of her. And this was just in Maryland. And just on Monday.The Department of Labor now says over 30 million Americans have filed joble...Read More
Thursday is your last day to get $200 off your first-year Canadian Insider Club Ultra membership by redeeming coupon 2020 at checkout. Please note the coupon only works for a Canadian Insider Club Ultra membership. If you encounter problems redeeming the coupon at checkout, contact us and we will replace it for you. This discount offer is a good one as it means your first Ultra year will only cos...Read More
With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in April 2020.The case list below includes only updates. For other continuing cases...Read More
The price of containerized ferrous scrap imports into India slumped further this week due to the continued lack of trading under the lockdown conditions in the country, as well as a drop in the global scrap markets, sources told Fastmarkets on Friday May 1.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $259.38 per tonne on Friday, down from $269.13 per...Read More
The pig iron market in the United States strengthened in the week to Friday May 1, with several buyers restocking material, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $295-300 per tonne on Friday, up by $5 from $290-295 per tonne last week.One purchase of Ukraine-origin pig iron was done...Read More
The Turkish deep-sea scrap import market ended the week with a lower-priced deal coming to light on Friday May 1, in line with market expectations for the direction of prices, sources told Fastmarkets.News of the cargo came to light late on Thursday, with a steel mill in the Iskenderun region buying a European cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $236 per tonne cfr, and 7...Read More
Demand for CIS-origin billet mainly came from the Gulf Co-operation Council (GCC) region this week, sources told Fastmarkets Friday May 1.By the end of the week, Fastmarkets had heard of three deals to the region, with the latest being a 50,000-tonne billet cargo sold to a customer in Saudi Arabia at around $360 per tonne cfr (or $335 per tonne fob Black Sea, excluding freight costs...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort287,38224,65344,448114,902408,531446,732477,632Change from Prior Reporting Period 5,119-8,0393,519-1,90611,6506,7327,130Traders20354715959290159 Small Speculators (C) GoldSeek.com LongShortOpen Interest 54,08423,184500,816 9265287,658 non reportable positionsChange from the pr...Read More
The Coronavirus / covid-19 pandemic is the biggest hoax in the history of the world. Billions of people across the globe have been duped and allowed themselves to be subjected to tyranny because of a spook.As you will learn when you follow the links below, the figures for cases and deaths caused by Covid-19 are largely fraudulent and grossly inflated - the product of distortion, exaggeration and...Read More
By Mike Gleason Precious metals markets enter the month of May with some mixed signals near term. But the long-term picture continues to look constructive. All the metals appear to have put in major bottoms during the panic selling of mid to late March. Barring another wave of virus outbreaks and economic lockdowns, the gradual reopening of state, local, and national economies should star...Read More