The market for pig iron exports from the Commonwealth of Independent States went up again during the week to Thursday May 7 on sales to the United States.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $287-292 per tonne on May 7, up from $280-289 per tonne last week.Sales of both Ukraine- and Russia-origin pig iron were done during t...Read More
The seaborne iron ore market witnessed large price increases on Friday May 8 amid high prices in swap contracts and a general upturn seen on commodities such as rebar and copper. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.60 per tonne, up $4.25 per tonne 62% Fe low-alumina fines, cfr Qingdao: $90.92 per tonne, up $4.68 per tonne 58% Fe fines high-grade premium, cfr Qingd...Read More
Seaborne prices for premium hard coking coal rebounded on Friday May 8, which was partly attributed to active trading in China amid a wider rally in the commodities market during the day.Fastmarkets indicesPremium hard coking coal, fob DBCT: $110.43 per tonne, up $2.80 per tonne Premium hard coking coal, cfr Jingtang: $116.27 per tonne, up $1.25 per tonneHard coking coal, fob DBCT: $88.66 per tonn...Read More
Import prices for containerized scrap in Bangladesh continued to drop over the past week, while most major mills stayed out of the market for bulk cargoes amid high stock levels.No transactions for bulk cargoes were heard during the week but containerized scrap from Australia and Brazil changed hands at lower prices than previous weeks."There are mostly container sales of both shredded and [heavy...Read More
Demand for imported ferrous scrap remained elevated in South Korea over the past week with domestic prices rising due to the restart of some key industries, market sources told Fastmarkets on Friday May 8.After a sharp rise in South Korean Covid-19 cases during February and March, new infections have slowed to just a handful over recent days. On Wednesday, the government allowed offices, libraries...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade. Index futures were virtually unchanged following release of the U.S. employment report at 8:30 AM EDT. Consensus for April Non-farm Payrolls was a drop to 22.000 million from 701,000 in March. Actual was 20.500 million. Consensus for the April Unemployment Rate was a jump to 16.0% from 4...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Prices fluctuations for heavy melting scrap (HMS) imports in Taiwan have caused an unclear price outlook in the near term.Market participants from major supplier Japan had just returned from a holiday on Thursday May 7 and buyers were waiting for clearer price trends for Japanese cargoes."Taiwan had increased the purchases for Japanese materials in the past few weeks because of limited supply from...Read More
China's ferrous scrap prices moved up sharply over the past week due to tight supply, eating into the profits of mills that operate electric-arc furnaces.Fastmarkets' price assessment for steel scrap heavy scrap domestic, delivered mill China was 2,480-2,560 yuan ($350-361) per tonne including value-added tax on Friday May 8, up by 70-150 yuan per tonne from 2,330-2,490 yuan last Thursday. Sources...Read More
May 8, 2020 - Brixton Metals Corporation (TSXV: BBB) (the "Company" or "Brixton") is pleased to announce the results from its Annual General Meeting of Shareholders held on April 30, 2020 and plans for the upcoming 2020 exploration program at its Hog Heaven and British Columbia Projects.Highlights of AGM 2020The number of Directors was fixed at five (5), of which four (4) Directors were re-elected...Read More
Melkior Resources (TSXV: MKR; US-OTC: MKRIF) has released results from two drill holes at the company's wholly-owned Carscallen gold project in the Abitibi Greenstone belt, 3 km north of the Porcupine Destor Fault and 25 km southwest of the city of Timmins in north-eastern Ontario.The drill holes were part of a 1,950-metre infill drill program completed in March. The first hole, 20-05, intersected...Read More
In the latest Chinese acquisition of a Canadian gold miner, Shandong Gold is buying TMAC Resources (TSX: TMAC) and its Hope Bay gold project in Nunavut for US$149 million.The news follows Zijin Mining's acquisition of Continental Gold in March for C$1.3 billion and a bid from Silvercorp Metals (TSX: SVM; NYSE-AM: SVM) for Guyana Goldfields (TSX: GUY) in April for C$105 million.Under the latest M&A...Read More
Barrick Gold (TSX: ABX; NYSE: GOLD) has withdrawn its 2020 guidance for its 47.5%-owned Porgera mine after placing it in temporary care and maintenance on April 27. Work was halted after Papua New Guinea said it would not renew the mine's 20-year special mining lease (SML). The revised group guidance without Porgera is between 4.6 million and 5 million oz. gold, about 200,000 oz. less than its pre...Read More
INV Metals (TSX: INV) moved into Ecuador seven years ago when it acquired a 100% interest in the Quimsacocha concession from Iamgold (IMG: TSX) in an all-share deal valued at US$30 million.Since then, INV changed the name of the project to Loma Larga and has, slowly but surely, advanced the asset from exploration through to feasibility work.At the end of March, INV completed an updated feasibility...Read More
British Columbia shed 264,100 jobs in April.Read full newsRead More
Canada lost 2 million jobs in April as a result of pandemic-related shutdowns, by far the biggest decline on record but only about half what economists had expected.Read full newsRead More
The final part of this series reports on financing mechanisms to support RNG infrastructure.Read full newsRead More
The gold price continues to hold above US$1,700 per ounce, and this week INN had the chance to speak with EB Tucker of Metalla Royalty & Streaming about what...Read full newsRead More
GoldSpot Discoveries has been engaged by Monarch Gold Corporation following an investment from Caisse de d?(C)p??t et placement du Qu?(C)bec to continue to advance the Beaufor Mine located on the prolific Abitibi Greenstone Belt in the Province of Quebec.Read full newsRead More
Newrange Gold is pleased to announce that it has signed a definitive Share Purchase Agreement for the sale of the Company's wholly owned Colombian subsidiary, Corporacion Minera de Colombia and all remaining assets to a private Australian company, Andean Mining Corporation Pty Ltd.Read full newsRead More