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IN CASE YOU MISSED IT: 5 key stories from May 11

May 12, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More

LME to take 'conservative' decision on return of ring trading - CEO Chamberlain

May 12, 2020 / www.metalbulletin.com

The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current electronic pricing model, chief executive officer Matthew Chamberlain said."The LME will be adopting a very staged and cautious return to its office, given the effectiveness of our work at home practices," Chamberlain said, speaking in video format on May 7 on the LM...Read More

WEEKLY SCRAP WRAP: Prices up as Turkish steel mills resume deep-sea bookings

May 12, 2020 / www.metalbulletin.com

Turkish steel mills returned to the deep-sea scrap markets amid better domestic steel demand, causing prices to rise, while other major markets except Vietnam were largely stable during the working week ended Friday May 8.Turkish steel producers resume deep-sea bookings, prices upUS scrap export market silent; dock buying prices flatSentiment in the Vietnamese scrap import market positive due to i...Read More

DAILY SCRAP REPORT: Turkish mills resume deep-sea purchases at higher prices

May 12, 2020 / www.metalbulletin.com

Turkish steel producers have resumed their deep-sea scrap purchases at higher prices amid recovering demand in the country's local long steel markets, with further sales to Europe anticipated when the safeguarding quota period ends at the end of the June.A steel mill in the Izmir region booked a Baltic Sea cargo comprising 24,000 tonnes of HMS 1&2 (80:20) at $251.75 per tonne and 6,000 tonnes of b...Read More

TURKEY FERROUS SCRAP: Prices up on recovering long steel demand

May 12, 2020 / www.metalbulletin.com

Domestic scrap prices in the Turkish markets have increased over the past week amid a strengthening of demand, sources said on Monday May 11.The steel mills in the Izmir region have increased their buy prices for auto bundle scrap by 50-75 Turkish lira ($7-11) per tonne over the past week.Long steel mills ID?? and Habas raised their buy prices for auto bundle scrap to 1,590 lira ($224) per tonne,...Read More

IN CASE YOU MISSED IT: 5 key stories from May 11

May 12, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More

Gold investor Franco-Nevada funds SolGold's Ecuador copper-gold project

May 12, 2020 / www.metalbulletin.com

Gold royalty company Franco-Nevada will fund up to $150 million of Solgold's Alpala project in Ecuador, the mine operator said on Monday May 11. The net smelters returns (NSR) agreement includes an initial $100 million to Solgold which will pay a perpetual 1% NSR interest. The total amount could increase by $50 million and to a 1.5% NSR interest rate within eight months. NSR is the amount of reven...Read More

Albemarle eyes Tianqi stake in Australian lithium mine, slows project spending

May 12, 2020 / www.metalbulletin.com

US-based lithium and speciality chemicals producer Albemarle said on Thursday May 7 that it was considering the acquisition of all or part of co-owner Tianqi's share in the Greenbushes lithium mine in Western Australia.In a call with investors discussing Albemarle's first-quarter results last week, chief executive officer Kent Masters said: "We know that Talison [Lithium] is a good project for us....Read More

Trade log May 2020: Cobalt sulfate

May 12, 2020 / www.metalbulletin.com

Trade log for cobalt sulfate in China including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets pricesClick here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonne.The exchange rate on Friday May 8 was 43,000 yuan to $6,063.Read More

SSR Mining Inc. and Alacer Gold Corp. to merge in all-stock transaction

May 11, 2020 / www.canadianinvestor.com

Share this articleVANCOUER, B.C. - SSR Mining Inc. and Alacer Gold Corp. have signed a deal to merge operations.Under the all-stock deal, Alacer shareholders will receive 0.3246 SSR Mining shares for each Alacer share held. The exchange ratio implies a value of $8.19 per Alacer share, based on closing prices Friday.The combined company will continue as SSR Mining and be headquartered in Denver. SS...Read More

IN CASE YOU MISSED IT: 5 key stories from May 11

May 12, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More

EUROPE HRC: Domestic prices inch down in slow market

May 12, 2020 / www.metalbulletin.com

Domestic prices for hot-rolled coil in Northern Europe have moved down slightly day on day on Monday May 11 amid a slow market, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?420 ($454.99) per tonne on Monday May 11, down by ?,?0.83 per tonne from ?,?420.83 per tonne on Thursday May 7. The index is down by ?,?3.13 per tonne week o...Read More

Elon Musk Threatens to Leave California

May 11, 2020 / www.energyandcapital.com

Elon Musk had a baby last week. And he named it X ?+ A-12...I feel like those words should be the opening to a story about Elon Musk inventing a new type of rocket engine or 200-mph passenger submarine. But, no. Elon Musk and his girlfriend, singer Grimes, had a literal baby and named it X ?+ A-12.As you can imagine, the unusual name sparked a flurry of online discussion and debate with social med...Read More

FOCUS: Second wave of Covid-19 infections will hit global commodities 'even harder'

May 12, 2020 / www.metalbulletin.com

A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11.Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authori...Read More

IN CASE YOU MISSED IT: 5 key stories from May 11

May 12, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More

INK Canadian Insider Index consolidates after 6-week rally

May 11, 2020 / www.canadianinsider.com

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index rose 1.79 points to close at 886.24.MACD fell over 9 points to 1.63. RSI edged 0.06 points higher to 55.78.Support is at 815.07 and 847.62 (50-day moving average). Resistance is at 900 and 909.82 (upper Bollinger band).As far as performance goes, the INK Canadian Insi...Read More

FOCUS: Second wave of Covid-19 infections will hit global commodities 'even harder'

May 12, 2020 / www.metalbulletin.com

A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11.Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authori...Read More

Saudi Arabia to increase VAT

May 12, 2020 / www.metalbulletin.com

The value added tax (VAT) rate in Saudi Arabia will increase to 15% - from the current 5% - in effect from July 1, the Saudi Arabian Ministry of Finance announced on Monday May 11.The country had initially imposed 5% VAT from January 1, 2018 alongside the United Arab Emirates (UAE) - forthe first time in the history of the two countries.Saudi Arabia's Ministry of...Read More

WEEKLY SCRAP WRAP: Prices up as Turkish steel mills resume deep-sea bookings

May 12, 2020 / www.metalbulletin.com

Turkish steel mills returned to the deep-sea scrap markets amid better domestic steel demand, causing prices to rise, while other major markets except Vietnam were largely stable during the working week ended Friday May 8.Turkish steel producers resume deep-sea bookings, prices upUS scrap export market silent; dock buying prices flatSentiment in the Vietnamese scrap import market positive due to i...Read More

DAILY SCRAP REPORT: Turkish mills resume deep-sea purchases at higher prices

May 12, 2020 / www.metalbulletin.com

Turkish steel producers have resumed their deep-sea scrap purchases at higher prices amid recovering demand in the country's local long steel markets, with further sales to Europe anticipated when the safeguarding quota period ends at the end of the June.A steel mill in the Izmir region booked a Baltic Sea cargo comprising 24,000 tonnes of HMS 1&2 (80:20) at $251.75 per tonne and 6,000 tonnes of b...Read More

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