The seaborne iron ore market uptrend resumed on Wednesday May 6 due to more active trading after Chinese market participants returned from the Labor Day holiday on May 1-5. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $84.35 per tonne, up $0.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.24 per tonne, down $0.46 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $72.81 p...Read More

Seaborne premium hard coking coal fob Australia prices were steady on Wednesday May 6, with market participants mulling the impact of a mining production halt in Queensland - although many held on to a bearish outlook amid persistent demand worries. Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.63 per tonne, up $0.51 per tonne Premium hard coking coal, cfr Jingtang: $115.02...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesSeven ways the resources sector can survive the COVID-19 crisisSPONSOREDproudfootThey were baffled because they were under the impression the meeting would take place online, so felt ir...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:15 AM EDT of the April ADP Employment report. Consensus was a decline of 20.20 million versus a decline of 27,000 in March. Actual was a decline of 20.2 million.General Motors gained $1.04 to $22.30 after repor...Read More

The seaborne iron ore market was depressed in April 2020 compared with the first quarter of the year, because of a slow recovery from a severe winter, but buying activity at Chinese ports remained resilient due to healthy short-term production by local mills, which kept the portside markets trading at a premium throughout the month.The monthly average price for 62% Fe iron ore slipped to $84.42 pe...Read More

Mining operations at Anglo American's Grosvenor coal mine in Queensland, Australia, have been suspended following an incident on the afternoon of Wednesday May 6, which led to its evacuation."Five people have been injured and transported to hospital. All of the injured people's families have been contacted," Anglo American said on Wednesday.Local media reports suggest that an explosion had occurre...Read More

The London Metal Exchange told Fastmarkets that it is confident there is enough capacity to meet the increasing demand to store metal in its warehouses across the globe. Demand for physical metal continues to decline following Covid-19 shutdowns in downstream sectors and premiums are falling, forcing stockholders to take up the option of storing their material in warehouses instead. Metal stock on...Read More

China's domestic hot-rolled coil prices picked up on Wednesday May 6, the first working day after a five-day break for Labor Day, which sparked expectations for growing imports.DomesticEastern China (Shanghai): 3,320-3,340 yuan ($470-473) per tonne, up 40-50 yuan per tonneNorthern China (Tangshan): 3,310 yuan per tonne, up 60-70 yuan per tonneMajor spot markets saw active trading during the day, w...Read More

China's domestic rebar prices moved up on Wednesday May 6 after a five-day break for Labor Day amid a drop in spot market inventory levels and rising futures. Domestic Eastern China (Shanghai): 3,430-3,460 yuan ($486-490) per tonne, up by 20 yuan per tonne China's 20 biggest rebar markets had 8.31 million tonnes of the product at the end of April, down by 610,000 tonnes (6.8%) from April 20,...Read More

The London Metal Exchange three-month nickel price gained 2.4% on the previous day's close to hit a high of $12,295 per tonne during morning trading on Wednesday May 6, as China's return to market proved to be a tailwind for nickel demand and the metal's outright price.China's re-entry into the market at a time when the country is restarting its commercial activities is expected to bolster metals...Read More

Broader markets were mixed this morning, Wednesday May 6, while base metals prices on the London Metal Exchange were up across the board. Base metals prices on the Shanghai Futures Exchange were mixed following Chinese participants' return to the market after the country's Labor Day holiday (May 1-5).Asian-Pacific and pre-market western equity indices were mixed this morning.Markets should be brac...Read More

An overview of the minor metals markets and the reasons for their latest price moves.Read More

Ailing silicon producer Ferroglobe will delay filing its 2019 annual report by up to six weeks as a result of the Covid-19 pandemic, the company announced last week."With the uncertainties created by the Covid-19 pandemic and potential implications for Ferroglobe's operating environment and financial results, the company continues to prepare financial scenarios for the near term, which its externa...Read More

A summary of stainless steel producer Aperam's results for the first quarter of 2020.In brief Sales, shipments and adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) were down year on year due to the coronavirus-driven downturn. The company reported a "seasonally normal...Read More

A summary of stainless steel producer Outokumpu's results for the first quarter of 2020. In brief  Sales and deliveries decreased year on year because of the coronavirus pandemic and its effect on the market.  Earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter increased on an annual comparison because...Read More

A summary of the financial results for Switzerland-based special and stainless steel producer Schmolz + Bickenbach (S+B) for the first quarter of 2020.In brief The company attributed the weaker quarterly results to the effects of the Covid-19 pandemic. A fragile market recovery, which started in early 2020, was interrupted by the pandemic. Geographically, all regions and countries suffered a doubl...Read More

A summary of Brazilian steelmaker Gerdau's financial results in the first quarter of 2020, as stated in its earnings report on Wednesday May 6.In brief Sales volumes and financial performance weakened year-on-year with all of the company's divisions affected by lower demand in the last 15 days of March due to the Covid-19 pandemic. The North America unit reported stronger results amid higher consu...Read More

Stainless steel prices in China were largely unchanged in the week to Wednesday May 6, with market participants in the country absent from May 1-5 for the Labor Day holiday. The lack of major price movements in the cost of nickel was another factor contributing to steady stainless steel prices, sources said.The three-month nickel contract on the London Metal Exchange has averaged $11,878 per tonne...Read More

Brixton Metals (TSXV: BBB; US-OTC: BBBXF) has announced bonanza-grade silver assays from its wholly-owned Langis silver-cobalt project, 500 km north of Toronto in the Cobalt Camp area of eastern Ontario.Highlights included drill hole 20-83, which intersected 5 metres grading 1,293.34 grams silver per tonne from 11 metres downhole. The hole also contained a 2-metre core of 3,205 grams silver per to...Read More

Russia is questioning a U.S.-proposed global legal framework for mining on the Moon, saying the document would have to be examined thoroughly to make sure it complies with international laws before it is officially proposed.The draft agreement, called the Artemis Accords, would be the latest effort to attract allies to the U.S. National Space Agency's (NASA) plan to place humans and space stations...Read More