U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Traders are waiting for June trade reports to be released at 8:30 AM EDT. Consensus calls for U.S. trade deficit of $73.9 billion and a Canadian trade deficit of $800 million.Booking added $69.36 to $2,155.00 after reporting higher than consensus second quarter revenues. Etsy plunged $23.1...Read More
Bangladeshi steelmakers have showed only limited interest in buying imports of steel scrap over the last week amid a continuing strict lockdown in the country, sources said on Thursday August 5.The country's strict Covid-19 lockdown was extended until Tuesday August 10, government officials announced on August 3. A feature of this latest lockdown is that most heavy industry such as steel productio...Read More
Turkish steel producers took a break from purchasing deep-sea scrap on Thursday August 5 after booking at least five cargoes earlier this week, market sources told Fastmarkets.The most recent deal was recorded on Wednesday August 4, when a steel mill in the Izmir region booked a US cargo comprising 15,000 tonnes of HMS 1&2 (80:20) at $464 per tonne, and 14,000 tonnes of shredded and 2,000 tonnes o...Read More
The emergence of cheaper South Korea-origin steel scrap in the market has reduced prices for imported scrap in China, with the Chinese market is still reeling from strict production cuts, sources told Fastmarkets on Thursday August 5.Chinese scrap demand has been dampened by lower converter and EAF operation rates Strong shredded prices in Pakistan prevented sales to Bangladesh A major South Korea...Read More
Iron ore prices decreased on Thursday August 5 with reduced market expectations of looser steel production restrictions in China, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.55 per tonne,down $12.14 per tonne62% Fe low-alumina fines, cfr Qingdao: $172.76 per tonne,down $11.63 per tonne58% Fe fines high-grade premium, cfr Qingdao: $136.28 per tonne,down $11.63 per tonn...Read More
Seaborne coking coal stayed strong in both the fob and cfr markets on Thursday August 5, with limited tradable resources and high offers in both markets, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $216.79 per tonne, up $1.28 per tonnePremium hard coking coal, cfr Jingtang: $328.54 per tonne, up $1.05 per tonneHard coking coal, fob DBCT: $186.41 per tonne, up $1.50 per tonn...Read More
Imagine the scenario:A rascal virus barrels through society. Yet some 80% of the afflicted are unknowing victims. They suffer not so much as one sniffle.They are what the medical men label "asymptomatic."The remaining 20% come down with an influenza - for some, a severe influenza. Their wheezings and gurglings are sources of great agony.A portion of this 20% is hauled into sick bay. There they suf...Read More
The three month price of zinc outperformed the rest of the London Metal Exchange complex with a 1.8% rise on Thursday August 5 and most other prices advanced despite limited traded volumes. The metal rose to $3,028.50 per tonne on Thursday, its highest close since Monday, when it reached $3,050.50 per tonne. Top Canadian miner Teck Resources announced late on Wednesday that its Trail Ope...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Thursday August 5, and those on the Shanghai Futures Exchange were mainly weaker.Generally, LME base metals seem to be boxed in between scale-up selling when prices are near the highs and dip-buying into pullbacks. This is perhaps not surprising given that we are in the middle of the summer lull.Shanghai base metals are gener...Read More
China's domestic hot-rolled coil prices were largely unchanged on Thursday August 5, with market participants weighing poor demand against shrinking production following the release of a raft of industry data.DomesticEastern China (Shanghai): 5,770-5,820 yuan ($893-901) per tonne, narrowing upward by 10 yuan per tonneThe China Iron & Steel Association (Cisa) said on Thursday that its member mills'...Read More
The release of new regulations for anti-seismic management of construction projects in China, which is expected to stimulate demand for anti-seismic rebar, failed to shake domestic rebar prices on Thursday August 5.DomesticEastern China (Shanghai): 5,200-5,240 yuan ($804-811) per tonne, unchangedThe Chinese government published the regulations Wednesday and plans to implement them from September 1...Read More
All London Metal Exchange prices barring copper had small upticks on the morning of Thursday August 5, while 5,200 tonnes of zinc and 2,500 tonnes of lead were booked for removal from LME inventories. Copper's three-month price was down a slight $33 to $9,433 per tonne at 9am, while aluminium's price increased $12.50 per tonne to $2,579 per tonne after a 1.2% fall on Wednesday to $2,566.50 per ton...Read More
China's domestic stainless steel prices widened downward during the week to Wednesday August 4 amid concerns of an easing of anticipated production cuts in the second half of 2021.The Politburo of the Communist Party of China said at a meeting last Friday that a national action plan to enable the country to have carbon emissions peak by 2030 would be issued, though it did not specify when. It made...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs...Read More
A summary of the financial results for Austrian steelmaking group Voestalpine for the second quarter of 2021.Voestalpine has reported significant year-on-year earnings growth for the period from April 1 to June 30, 2021, the first quarter of its financial year. Almost all of the group's market and product sectors showed growth and positive performance, although in the aerospace sector earnings wer...Read More
Mexico has a long and storied history as a silver producer, and there is no reason to think that will change anytime soon. Here are eight Canadian companies active in the sector - often with gold or copper in the mix as well.CANASIL RESOURCESCanasil Resources' Nora project in Mexico. Credit: Canasil Resources.Canasil Resources (TSXV: CLZ) has six silver-gold exploration projects in Mexico's Durang...Read More
In preparation for its initial resource estimate due by the end of the third quarter, Wallbridge Mining (TSX: WM) is nearing completion of the definition drilling program at the Fenelon gold property 75 km northwest of Matagami, in Quebec.Work has been done on multiple areas within a 1-km by 1.2-km area in the central part of the Fenelon gold system. The company has drilled about 260,000 metres wi...Read More
Mountain Province Diamonds (TSX: MPV; US-OTC: MPVD) saw profit jump in the second quarter of the year as consumer demand for precious stones returned and Covid-19 cases dropped at its 49%-owned Gahcho Ku?(C) mine, in Canada's Northwest Territories. The Toronto-based miner reported a profit of $22.5 million (US$18 million) for the three months ending June 30, compared with a loss of $26.8 million...Read More
Torex Gold (TSX: TXG) has announced it will proceed with conventional development and mining methods for its proposed Media Luna project in Mexico instead of using the newly developed Muckahi mining method.The company says the decision follows the outcome of various risk assessments, extensive comparative financial analyses, and the results to date of the Muckahi test program at El Lim??n Deep (EL...Read More