The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied duty-unpaid US Midwest aluminium premium, as well as any changes to its methodology that may alter premiums and impact contracts based on their current methodology. Mary Jane Saunders, the trade association's General Counsel, said in a letter to the price reporting agency on May 18 that the proposal was "inco...Read More
The smooth flow of material from South Africa will remain uncertain for a considerable period even after the country eased its restrictions on activity in response to the Covid-19 virus. South Africa entered lockdown on March 26, which severely tightened exports of 37% manganese ore, UG2 chrome ore and foundry grade chromite, among other materials. The government has since granted permission for m...Read More
The latter includes expansion of its services division. The placement, priced at $2.Read More
In the weeks after the Brumadinho tailings dam collapse in January, 2019, the ore price rocketed up to a peak of $124/t as safety inspectors ordered mine closures, from which the Brazilian industryRead More
Vancouver, BC - Venzee Technologies Inc. (TSX-V: VENZ) (the "Corporation" or "Venzee") has announced it is increasing previously announced financing for gross proceeds of $1.0M to $1.4M.The Company intends to complete the non-brokered private placement of 28,000,000 units of the Company ("Units") at a price of $.05 per Unit, for anticipated aggregate gross proceeds to the Company of approxima...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More
By: Ira EpsteinSilver has spent 5 days above its Bollinger band on the daily chart. I give it at 1% chance..Read More
Cobalt has continued to trade on either side of $15 per lb so far this week, with thin spot demand, lockdowns and economic uncertainty created by the Covid-19 pandemic limiting scope for gains despite some sellers holding back from the spot market. Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $14.80-15.20 per lb on Wednesday May 20; the price has remained...Read More
Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click hereThe distribution centre had been closed on March 24 as Vale said at the time it was unable to secure the minimum resources to safely operate the terminal amid the COVID-1...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday May 20.Key drivers Europe ferro-titanium market extends steady trend for seventh consecutive week while reduced production is counteracted by less demand, with little change in the near term. UK-based sources say domestic production has been cut by up to as much as 40% from some furnaces due to reduced staffing levels, while workers...Read More
Turkish steel mills stayed out of the deep-sea scrap market on Wednesday May 20, with national holidays and Covid-19 lockdown measures continuing to inhibit trading activity, sources told Fastmarkets.In addition to the public holiday on May 19 and the upcoming Eid al-Fitr break - from Friday May 22 to Tuesday May 26 to mark the end of Ramadan - the country's major cities remained subject...Read More
Prices for H2-grade heavy steel scrap remained stable in Japan over the past week after several deals were booked to Vietnam, market sources told Fastmarkets on Wednesday May 20.Deals for H2 material were heard at ?23,000 ($214) per tonne fob to Vietnam in recent days, equivalent to $248 per tonne cfr South Vietnam and $253-255 per tonne cfr North Vietnam, Fastmarkets heard.The Japanese deals cam...Read More
Cobalt has continued to trade on either side of $15 per lb so far this week, with thin spot demand, lockdowns and economic uncertainty created by the Covid-19 pandemic limiting scope for gains despite some sellers holding back from the spot market. Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam held at $14.80-15.20 per lb on Wednesday May 20; the price has remained...Read More
Sometimes you just can't wrap your head around how things have gotten to the point that they have.Don't worry, I'm not talking about COVID-19. With the media blasting that crisis to you from every angle, it's far too easy to lose sight of other things right now.So today, we're delving into something that may have even more dire consequences for the U.S. if certain catalysts fall.For the last few w...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 20 that are worth another look.China will maintain anti-dumping duties on some alloy steel seamless steel pipe imported from the United States and European Union for the next five years, according to the country's Ministry of Commerce.The Beer Institute has opposed a proposal by S&P Platts to impose a floor for the implied du...Read More
On Monday Real Vision's Raoul Pal interviewed Galaxy Digital (GLXY) CEO Michael Novogratz. Novogratz is a former Goldman Sachs partner and hedge fund manager. The interview covers a broad range of topics ranging from the current state of markets to Novogratz's philanthropic work in the area of prison reform. The meat of the interview starts around the 30-minute mark when the discussion turns to d...Read More
Domestic prices for heavy steel plate in Europe have been under pressure from limited trading activity, sources told Fastmarkets on Wednesday May 20."The market is very quiet. Buyers are not interested in placing orders because they have high stocks," a Northern European trader said."There are some signs of a slow recovery, but it is very slow. Generally speaking, demand is still absent, especiall...Read More
Domestic prices for hot-rolled coil in Europe have been fairly stable due to slow market activity, sources told Fastmarkets on Wednesday May 20.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?410 ($448.14) per tonne on Wednesday, up by only ?,?0.16 per tonne from ?,?409.84 per tonne on Tuesday.Wednesday's index was calculated based on deals heard at ?,?405-415...Read More
Turkey has imposed additional duties on imports of several steel products with effect from Wednesday May 20, according to the Turkish Official Gazette.Imports of hot-rolled flat steel under HS codes 7208 9080 1012 and 7208 9080 2012 will be subject to 14% additional import duty until September 30, 2020.A 10% additional import duty will be applied to various cold-rolled flat steel under HS code 720...Read More
Steel rebar prices in Europe have remained largely stable over the past week, supported by costlier scrap, with buying remained limited especially in the south, sources told Fastmarkets on Wednesday May 20.Buying activity was slow in the south of the region because the key rebar-consuming sector, construction, was still running at low rates while various countries eased their way out of their Covi...Read More