Base metals prices were up across the board on the morning of Tuesday July 20, recovering slightly from Monday's drop after a sharp rise in global coronavirus cases raised concern about potential further lockdowns stifling economic recovery."This morning the metals have recovered a little from yesterday's fall but on very thin volumes and no doubt unnerved by the Asian equities in negative territo...Read More

Hot-rolled coil prices in the United States climbed to a new record high as a result of the latest spot offers and an increase in reported transactions involving material for August and September shipment.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.34 per hundredweight ($1,826.80 per short ton) on Tuesday July 20, an increase of 0.42% from $90.96 per cwt on Mo...Read More

Shipments and distribution of steel in Germany have been disrupted by the recent flooding in the country, pushing flat steel producer Thyssenkrupp to declare force majeure, sources told Fastmarkets on Tuesday July 20.The situation was likely to worsen the carbon steel shortage in the European market, participants believed. Over the past year, the supply of both flat and long steel products has bee...Read More

AIM-listed Greatland acquired Havieron in 2017 and immediately set to work on geophysical studies and then a drilling campaign. The initial drill results were impressive enough to attract the attention of Newcrest, Australia's largest gold miner, which agreed to acquire up to a 70% interest in Havieron as part of a US$65 million farm-in agreement. Newcrest is also providing Greatland with up to US...Read More

Sentiment varied in the hot-rolled coil markets of Northern Europe and Italy despite seasonally slow demand in both regions, sources told Fastmarkets on Tuesday July 20.In Northern Europe, domestic HRC prices are likely to remain fairly stable during summer and will possibly rise in autumn, sources said. Good order books at the region's mills and concerns about tight supply due to German floods su...Read More

Export prices for steel hot-rolled coil products from the Commonwealth of Independent States region were stable over the week to Monday July 19 with deal prices almost unchanged from the previous week.The Turkish market continued to support CIS producers, with two cargoes heard sold within the range of $950-955 per tonne cfr. This compared with bookings at $945-960 per tonne cfr previously. This w...Read More

Uranium Outlook: Ready for lift off at lastSPONSOREDGalan Lithium rides electric vehicle revolutionSPONSOREDgalan lithiumGlobal Atomic is shipshape and in weather for plain sailingSPONSOREDglobal atomicDenison aims for 2022 live ISR field test at PhoenixSPONSOREDdenison minesIron ore production in Western Australia rose 9% quarter-on-quarter to 65.2 million tonnes due to record production at Minin...Read More

Steelmaking heavyweights in eastern China's Jiangsu province were actively looking to source steel billet imports on Tuesday July 20, after the reality of crude steel production cuts in the region started to become clearer.Three mill sources from the region told Fastmarkets they were interested in importing billet, with the recent output cuts communicated to them by Chinese authorities set to limi...Read More

ASX-listed Eagle Mountain raised A$11 million (US$8 million) in February 2021 in order to accelerate activities at Oracle Ridge. The results of the subsequent drilling campaign have included 5.Read More

Hot-rolled coil prices across China's domestic market edged lower on Tuesday July 20 and futures prices fell following Beijing's latest pledge to ensure stable prices for commodities.DomesticEastern China (Shanghai): 5,850-5,930 yuan ($903-915) per tonne, down by 20-30 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange slipped to a one-week low of 5,822 yuan per tonne in e...Read More

Canada-based TRQ had last week maintained force majeure as it outlined lower production figures, worker numbers up to 25% less than planned, plus little progress on either Shafts 3 and 4 or on key approvals needed for the block cave undercut.In a research note, Macquarie said TRQ's copper production and shipments were 9% and 46% below its estimates, respectively.It incorporated a six-month delay i...Read More

Base metals prices on the LME were up across the board this morning, Tuesday July 20, while the SHFE followed Monday's weakness, which was triggered by growing fears over the potential impact of the Delta variant of Covid-19 on the global economic recovery.* Gold, the yen and the dollar were stronger and the United States 10-year treasury yield weaker - all signs of a pick-up in haven demand* The...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points in pre-opening trade.Equity index futures were virtually unchanged following release of June U.S. Housing Starts at 8:30 AM EDT. Consensus was an increase to 1.590 million units from 1.572 million units in May. Actual was an increase to 1.64 million units.IBM advanced 4.63 to $142.40 after reporting higher th...Read More

A summary of the second-quarter iron ore production results for 2021 from British multinational mining company Anglo American, reported in its latest production report released on Tuesday July 20.In briefIron ore production increased by 6%, driven primarily by a 14% increase at Kumba, and partly offset by a 5% decrease at Minas Rio.Total production at Kumba increased, reflecting the effect of Covi...Read More

Major steelmaker Shagang raised its purchase price for domestic scrap in the week to July 20 after keeping its prices stable for one month, sources told Fastmarkets. Mills in other regions followed suit.Shagang increased its domestic scrap purchase price by 80 yuan to 3,850 yuan ($593.3) per tonne delivered mill on Saturday July 17, including a 9.2% value-added tax (VAT)."The supply of domestic sc...Read More

A summary of Brazilian miner Vale's iron ore results for the second quarter of 2021, as stated in its latest production and sales report published on Monday July 19.In brief Vale's iron ore fines production totaled 75.7 million tonnes in the second quarter of 2021, up by 12% from a year earlier and by 11.3% from the first quarter of 2021. Vale said second-quarter fines production increased for the...Read More

Today was the stock market's worst day in months, as the Dow lost over 900 points midday. It ended up losing 725 after a late rally, but still a bad day. Fears about a global resurgence of COVID cases and its potential economic impact are being blamed.Are we headed for another round of ineffective and economically destructive lockdowns? Let's jump in…The pandemic is like the proverbial bad p...Read More

A summary of BHP's operational review for iron ore for the year ended June 30, 2021, as released on Tuesday July 20.In brief BHP delivered full-year production of iron ore in line with its guidance for the year to June 30, which was 245-255 million tonnes. BHP achieved record production at Western Australia Iron Ore (WAIO), reflecting record production at Jimblebar and Mining Area C, which include...Read More

Why did furious revolutionary tantrums seize France in 1789? And do they afford us a frightful glimpse of the American future?Today we glance backward... in the hope it may help us look forward.From yesterday's reckoning (and our co-founder Bill Bonner):By the 18th century, France had become the greatest power in Europe, the richest and most populous country in the western world, and the clear lea...Read More

Yesterday we maintained that the American Revolution was a "revolution not made but prevented."Less a revolution than an anti-revolution... we might properly label the thing a revolt.A child may revolt against parental sovereignty. But is he a revolutionary?Here was the American colonists' animating purpose: To retake preexisting rights the crown had muscled away from them.They were not out to cre...Read More