Australian mining company Nickel Mines has acquired 100% of the interest in the Siduarsi nickel-cobalt project in the Papua province of Indonesia, it said in a press release published on Thursday September 2.The Siduarsi site covers 16,470 hectares, with the highest individual grades of 2.07% nickel and 0.36% cobalt recorded across a 1-meter vertical channel sample.The project's potential was prom...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
Fastmarkets' price index for domestic steel hot-rolled coil in Northern Europe went down day on day on Tuesday September 7 with the outlook among buyers turning negative, Fastmarkets has heard.Buyers have been holding back from trading because they wanted to take time to monitor the price trend. They expected that volumes of coil products available in the spot market would increase due to poor dem...Read More
The downturn in prices for flat steel imports to the United Arab Emirates and Saudi Arabia has made buyers refrain from bookings because of their uncertainty about the market during the week ending Tuesday September 7, sources told Fastmarkets.Buyers wanted to see prices hit a market bottom before placing more orders.Saudi ArabiaChina was offering hot-rolled coil at $1,020-1,040 per tonne cfr Saud...Read More
Excess supplies of rebar in Russia's Central Federal District around Moscow led to a decline in prices in the week to Monday September 6, after domestic producers that usually trade elsewhere redirected supplies to the country's key steel-consuming region.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 58,000-62,000 roubles ($795-850) per t...Read More
Demand for steel rebar in the United Arab Emirates improved in the first week of September compared with August, while prices remained stable, sources told Fastmarkets on Tuesday, September 7.Demand picked up last week because of low stock levels and buying has been strong so far this week, sources said.Domestic rebarSince August 24, the country's biggest steel producer, Emirates Steel, has been o...Read More
China's domestic rebar prices continued to trend upward on Tuesday September 7 but trading activity fell in response to the increases.DomesticEastern China (Shanghai): 5,320-5,370 yuan ($824-831) per tonne, up by 40-60 yuan per tonneRebar futures traded above Monday's settlement price of 5,427 yuan per tonne throughout the day on Tuesday.Sellers - already expecting lower steel production rates to...Read More
Various targets "continue to emerge in the southwestern portion of Aurania Resources' Lost Cities-Cutucu project," a Noble Capital Markets report noted. In a Sept. 9 research note, Noble Capital Markets analyst Mark Reichman provided an update on current and imminent 2021 drilling at Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) Lost Cities-Cutucu project in Ecuador."Aurania's exploration prog...Read More
The contents of this memo between Defense Metals and a Chinese minerals processing expert are described in a Highballer Stocks report, which notes "demand from every corner of the tech arena." In an Aug. 11 research note, Greg Nolan of Highballer Stocks reported that Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) signed a "landmark" memo of understanding (MOU) with the Sinosteel Corp. su...Read More
Turkish steel mills have resumed their deep-sea scrap bookings at fairly stable prices after a short break, market participants told Fastmarkets on Tuesday September 7.Three steel producers booked four deep-sea cargoes from various locations.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 27,000 tonnes of shredded at $460 per...Read More
Seaborne iron ore prices rebounded on Tuesday September 7, although buying activity remained sluggish for mainstream iron ore fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $137.97 per tonne, up by $5.59 per tonne62% Fe low-alumina fines, cfr Qingdao: $138.10 per tonne, up by $5.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.69 per tonne, up by $5.99 per...Read More
The possibility of tighter production cuts in China in early 2022 has led to a drop in raw materials prices across the ferrous chain in China, sources told Fastmarkets on Tuesday September 7.Stricter production policies in China put pressure on scrap demandJapan-origin offers to China remain unchangedTaiwan buys containerized scrap at $450 per tonneChinaThe Chinese government's stricter stanc...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
Steel billet buyers in China have continued to make import purchases in recent days amid expectations that further domestic production cuts will be imposed at the start of next year, sources told Fastmarkets on Tuesday September 7.Major Chinese market participants received word on Monday that steel production cuts in the nation would be extended beyond December into early 2022. This led to a plung...Read More
LONDON, 23 August 2021 - Analysis and comment from BullionVault features in today's gold-price report from MarketWatch, the widely syndicated US financial news site.While the falling Dollar helped gold rally today, the metal has also hit "multi-week highs priced in Euros and Yen, and it's now 8% higher from August's flash crash in terms of the British Pound" says MarketWatch, quoting BullionVault....Read More
Will this September be one to remember in the markets? It is often characterized by rising volatility heading into the fall. September also often ushers in a period of seasonal strength for precious metals markets.U.S. stocks opened the month heading back up to record levels. Meanwhile, gold and silver traded with little fanfare. Prices bounced around quietly ahead of Friday’s big jobs repor...Read More
US home prices are surging, increasingly raising worries about inflation. Could gold follow houses? If so, why?Home price growth in the US has accelerated even further, reaching a new record. The S&P/Case-Shiller U.S. National Home Price Index rose from 255.3 in May to 260.9 in June, boosting the annual percentage gain from 16.8% to 18.1%, as the chart below shows. That’s the largest jum...Read More
Mexican light vehicle production decreased by 21.44% year on year in August, according to figures released by national statistics agency Inegi on Monday September 6. Vehicle output reached 237,040 units last month, compared with 301,739 in August 2020.The country's automotive output has been limited, with...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
The European Union is considering imposing tariff-rate quotas on steel and aluminium exports to the United States in a bid to reach an agreement with the US on its plans to exempt the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel an...Read More