Fastmarkets is proposing to extend the delivery window for its aluminium P1020A (MJP) spot premium, cif Japan. The current methodology reflects cargoes sold on a cif basis for delivery to the main Japanese ports of Yokohama, Nagoya and Osaka within four weeks from the date of the transaction. Fastmarkets invites comment from market participants to determine whether extending the delivery window to...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday June 1, needing only a further slight push to rise above $5,500 per tonne - a level it has not breached since March 11 - while a smaller-than-expected fall in US monthly construction spending also supported the base-metals complex.Copper's underlying price on the LME closed at $5,484 per tonne on...Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
The UG2 chrome ore market rose for yet another week on Friday May 29, supported by Chinese buyers' attempts to restock, and ferro-chrome prices stabilized in firm market conditions. Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China climbed up for a fourth week in a row to $169 per tonne on Friday, up by $5 per tonne or 3% from $164 per tonne a week earlier. The...Read More
The study shows a post-tax NPV of US$1.4 billion and IRR of 38.Read More
Prices in the European high-carbon and low-carbon ferro-markets increased in in the week ended Friday May 29.In high-carbon trading, industry sources reported deals agreed for more than 1,000 tonnes of alloy that raised the upper end of the price assessment. And deals for about 350 tonnes of more refined-grade material were reported, which had the same effect on the price range in that market.In a...Read More
By: Ira EpsteinGold monthly is favorable, momentum and bias is up. For the week, gold had a higher weekly close. It was a strange week..Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
Week 20 (23/05/2020-28/05/2020) Company news Americas Golden Star Resources puts close to 60 workers at the mine in Ghana under quarantine but expects only limited impact on production and underground development.Sierra Metals says it's seeking approval to restart mining activities at Yauricocha as the country's state of emergency and nationwide lockdown have been extended again, to...Read More
Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.The monthly index takes account of the month's spot cobal...Read More
Turkish domestic ship scrap prices rose over the past week, in line with stronger imported scrap values, market sources said on Monday June 1.The Turkish steel producers resumed their deep-sea scrap purchases at higher prices after the Eid al-Fitr break, which marks the end of Ramadan.Following the upturn in import values, three steel mills raised their...Read More
Turkish steel producers have continued their deep-sea scrap purchases on further easing of the restrictions imposed to combat the Covid-19 pandemic in the country, sources said on Monday June 1.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 10,000 tonnes of shredded, 15,000 tonnes of plate and structural scrap (P&S) and 25,000 tonnes of HMS 1&2 (90:10) at an average pric...Read More
Aluminium producer Norsk Hydro and battery cell maker Northvolt have formed a joint venture to harness recycling synergies between their two industries, Northvolt said. The Hydro Volt venture aims to leverage the Norwegian market for electric vehicles to secure a sustainable feed of battery materials. Northvolt, based in the Swedish city of Stockholm, said the joint recycling hub is slated to star...Read More
Share this articleVANCOUVER - Lundin Gold Inc. says it is moving to restart operations at its Fruta del Norte project in Ecuador after suspending operations on March 22 due to the pandemic.The company says it has started moving supplies to the mine.It has also instituted a strict protocol for personnel movement.The company says a seven-day quarantine period followed by a negative test for the viru...Read More
Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.The monthly index takes account of the month's spot cobal...Read More
On Saturday night, I awoke to find myself in the middle of a riot.Like many other cities across the nation, there had been protesting and marching throughout Baltimore over the killing of George Floyd over the weekend. From my downtown apartment, I watched peaceful marching all day on Saturday accompanied by the standard fare of chanting, loudspeakers, and homemade poster board signs.I could tell...Read More
The European Commission (EC) plans to replace general annual quotas for hot-rolled coil with quarterly country-specific quotas and introduce some other strict measures to existing safeguard restrictions against imported steel, Fastmarkets understands.The EC sent a notice listing the changes to the World Trade Organization on May 29. The EC initiated a second review of the existing safeguard measur...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN briefly pushed through the 900 level but was unable to close above it. However, the Index did add 19.41 points or 2.2% to close at 896.58. MACD shot up 3.5 to 4.63. RSI climbed 4.44 points to 58.87 and is now approaching its April high of 61.83.Support is at 873.64...Read More
Earlier this weekend we sent out an email to our Basic account holders notifying them of some upcoming changes and highlighting our Globe and Mail feature as well as some thoughts on commodity trends. Many did not get the email due to a technical issue, so I am republishing it in a blog and apologize to those who see this article twice. Before we get into the account changes, I just want to remin...Read More