The export market for flat steel products from the Commonwealth of Independent States went up during the week to Monday July 27 because Russian suppliers continued to focus on their domestic market, while Ukrainian producers concentrated on steel slab sales.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $405-420 per tonne on Monday, up by $5 per ton...Read More

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Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly stable this week, with demand only weak, sources told Fastmarkets on Tuesday July 28.Demand was subdued because of the upcoming Eid Al-Adha religious holiday at the end of this week, which in turn kept prices steady.UAEOffer prices for hot-rolled coil (HRC) from India and China were heard in the UAE at $490 per tonne...Read More

Tata Steel India is to move into the country's steel recycling sector by setting up the first scrap recycling plant in India, the company told the Bombay Stock Exchange on Tuesday July 28.The company dispatched its first consignment of ferrous scrap raw material on July 24 for trials at the recycling plant being set up in Rohtak, Haryana.The "state-of-the-art" scrap processing unit is being built...Read More

Turkish steel producers continued to stay away from the deep-sea scrap market on Tuesday July 28, largely because of strong prices, but also due to the impending holiday period, sources told Fastmarkets.The most recent deep-sea transaction was done through the US at $275 per tonne cfr for shredded and $280 per tonne for bonus at the end of the last week.Turkish mills have since been quiet and...Read More

Coking coal market participants from India were bullish on Tuesday July 28 due to an increase in domestic steel sales in June, while most steel mills in China said they were unable to procure seaborne materials due to import restrictions. Fastmarkets indices Premium hard coking coal, fob DBCT: $109.26 per tonne, down $0.12 per tonne Premium hard coking coal, cfr Jingtang: $118.79 per tonne, down $...Read More

Iron ore prices mostly rose on Tuesday July 28 after trading sentiment recovered due to an easing in tensions between the United States and China. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $106.66 per tonne, down $1.02 per tonne 62% Fe low-alumina fines, cfr Qingdao: $109.79 per tonne, up $0.13 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $95.55 per tonne, up $1.11 per ton...Read More

Resource nationalism is one of the key risks miners will face in the increasingly volatile macroeconomic environment worsened by the Covid-19 pandemic, global law firm White & Case told Fastmarkets this week. This is due to the stretched national budgets that governments are facing after supporting their economies through monetary and fiscal policies amid the Covid-19 outbreak, as well as increase...Read More

Argonaut Gold (TSX: AR) has reported high-grade intercepts from its phase two drill program at the company's wholly-owned Magino gold project in Ontario, 14 km southeast of Dubreuilville.The phase two drill program targeted high-grade mineralization identified during the phase one program at the property's Elbow zone, situated below the proposed pit at Magino.Highlights include drill hole MA20-04...Read More

The U.S. Mint has reduced the supply of gold and silver coins to third-party distributors as the coronavirus pandemic slows down the production of coin currency.The Mint's New York-based facility is evaluating risks to employees to curb the spread of the virus, thereby slowing production for the next 12 to 18 months, Bloomberg reported, citing internal documents.The nation's coin maker, which is i...Read More

Nighthawk Gold (TSX: NHK; US-OTC: NIMZF) has released an updated resource estimate for its Colomac gold deposits as well as a maiden underground resource for the Damoti deposit, 28 km to the south, which lie within the company's wholly owned, 899-sq.-km Indin Lake gold property in the Northwest Territories, 200 km north of Yellowknife.At Colomac, total indicated resources now stand at 25.9 million...Read More

Gold prices held steady after a record-breaking rally that saw the spot price hitting new highs and futures touching US$2,000 per oz. for the first time.Spot gold continued its historic run earlier on July 28, setting a fresh all-time high of US$1,980.55 per oz. before pulling back on investor profit-taking. Spot was up 0.3% at US$1,950.17 per oz. by 11:20 a.m. EDT.U.S. gold futures returned to US...Read More

China's hot-rolled coil producers raised their export offers on Tuesday July 28 despite a weakening of domestic prices.DomesticEastern China (Shanghai): 3,910-3,930 yuan ($559-562) per tonne, widening downward by 10 yuan per tonneSellers in Shanghai kept their offers at 3,920-3,930 yuan per tonne in the morning, unchanged from Monday.But falling futures in the afternoon sent buyers to the sideline...Read More

This week's episode features the second of a two-part interview with Iamgold president and CEO Gord Stothart at the Canadian Mining Symposium, held on Zoom on June 16, 2020. Online editor Adrian Pocobelli asks Gord about mining in Canada, tailings dams, and working with local communities.Gordon Stothart joined Iamgold at the end of 2007 as COO, moving to the position of president & CEO on March 1s...Read More

Rio Tinto (NYSE: RIO; LSE: RIO) says it has made a "promising" discovery in Western Australia, 2 km east of its Winu copper-gold project, which is on track to begin production in 2023.The world's second largest miner also reported a maiden resource for the Winu deposit, reporting 503 million inferred tonnes grading 0.45% copper-equivalent at a 0.2% copper-equivalent cut-off grade. The resource inc...Read More

China's domestic rebar prices widened downward slightly on Tuesday July 28 after futures declined in the afternoon.Domestic Eastern China (Shanghai): 3,570-3,600 yuan ($510-514) per tonne, widened downward by 10 yuan per tonneRebar futures went from a high of 3,770 yuan per tonne in the morning to a low of 3,715 yuan per tonne in the afternoon.The spot market was active when rebar futures were on...Read More

The Dow Jones Industrial Average fell 0.76% to 26,469.89 and the S&P 500 fell 0.28% to 3,215.63. Spot gold jumped US$91 per oz., or 5.03%, to finish the July 20-24 trading week at US$1,901.30 per ounce.Shares of First Majestic Silver rose to US$13.28 per share, up 25.28%. The company reported second-quarter production of 3.5 million oz. silver-equivalent, consisting of 1.8 million oz. silver and 1...Read More

Benchmark prices for cobalt metal nudged higher on Tuesday July 28 on increased buying interest, higher bids and positive cues from the hydroxide market.Fastmarkets' price assessment of cobalt standard grade, in-whs Rotterdam was $13.75-14.15 per lb on Tuesday, up 10 cents on the high end from $13.75-14.05 per lb, where it had held since July 15. Cobalt alloy grade, in-whs Rotterdam was assessed a...Read More

PCC BakkiSilicon will stop producing silicon at its smelter in H??sav?-k on the northern coast of Iceland this week due to the current soft market prices, a senior company official told Fastmarkets on Tuesday July 28.The firm, a subsidiary of German holding company PCC SE, had already shut one of its two furnaces in April. Each furnace has capacity for 16,000 tonnes per year of silicon metal, with...Read More

The S&P/TSX Composite Index fell 0.78% to 15,997.06 during the July 20-24 trading week. The S&P/TSX Global Mining Index rose 1.48% to 98.48, and the S&P/TSX Global Base Metals Index fell 3.22% to 99.14. Spot gold jumped US$91 per oz., or 5.03%, to US$1,901.30 per oz., and the S&P/TSX Global Gold Index rose 5.43% to 386.5. Shares of Nevada Copper fell by 6.67% to 14 ? per share. On July 23, the c...Read More