Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was “fully intact”. The fact that a White House official said it was “over” only to retract that later suggests there have at l...Read More

Steel rebar and billet import prices in the United Arab Emirates have remained fairly stable over the past week, while domestic rebar prices have risen slightly, sources said on Tuesday June 23.Domestic rebarThe country's biggest producer, Emirates Steel, increased its rebar offers to 1,773 dirhams ($483) per tonne ex-works from June 16, up from 1,690 dirhams per tonne ex-works a week before.Follo...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 33 points in pre-opening trade. Apple gained $5.63 to $364.50 after Deutsche Bank and UBS raised their target price on the stock. Nike advanced $2.09 to $101.60 after Susquehanna raised its target price from $100 to $130.Lowe's added $$1.34 to $136.06 after Instinet raised its target price from $130 to $146.Peloton gai...Read More

Seaborne iron ore prices were mixed on Tuesday June 23, amid continuing concerns over the demand outlook for finished steel products. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.62 per tonne, down $1.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104.22 per tonne, up $0.03 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $91.28 per tonne, up $0.51 per...Read More

Seaborne premium hard coking coal prices went up on Tuesday June 23 after most market participants increased their estimates in the segment in accordance with recent transactions, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.93 per tonne, up $1.15 per tonne Premium hard coking coal, cfr Jingtang: $118.76 per tonne, up $1.40 per tonneHard coking coal, fob DBCT: $89....Read More

Fastmarkets is inviting feedback from the industry on its pricing methodology for its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 24, 2020, seeks to ensure that our methodology continue...Read More

China's hot-rolled coil prices weakened on Tuesday June 23 amid falling futures, while mills raised their export offers despite overseas buyers showing little interest in Chinese products.DomesticEastern China (Shanghai): 3,730-3,750 yuan ($527-530) per tonne, down 10-20 yuan per tonneSources told Fastmarkets that trading activity in China's domestic HRC market weakened during the day due to senti...Read More

China's domestic rebar prices dropped slight on Tuesday June 23 due to persistent rain affecting demand in many parts of the country.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($503-507) per tonne, down by 20 yuan per tonneWorking hours at construction sites have shortened due to the rainy season affecting many regions in China, which also has an effect on truck transportation.High temper...Read More

The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Read More

The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency...Read More

Reverse circulation (RC) drilling at Liberty Gold's (TSX: LGD) Black Pine project has discovered a third zone of oxide gold mineralization - D-3 - underneath the historic drilling boundary in southern Idaho.The new zone is defined by three holes: two of these, LBP125 and LBP129, are 450 metres apart and lie in the same section, while the third, LBP127, was drilled 215 metres to the south.Drill hig...Read More

In a new research note entitled, Making a Comeback, Haywood Securities' Pierre Vaillancourt has adjusted his price outlook for copper and nickel "to reflect the improving economic conditions," although the mining analyst cautions that he remains "wary of the extent of the recovery."Vaillancourt has raised its outlook for copper this year to US$2.60 per lb. from his previous US$2.45 per lb. (US$2.5...Read More

Apollo Gold (TSXV: APGO) has signed a letter of intent to acquire a group of properties in Jalisco state, Mexico, from First Majestic Silver (TSX: FR; NYSE: AG). The deal is the second option agreement the junior has announced since April.Apollo, which changed its name from Inform Resources in May, also announced a $5 million private placement financing.The Jalisco properties consist of six proper...Read More

This week's episode features an interview with Agnico Eagle Mines vice chair and chief executive officer Sean Boyd at the Canadian Mining Symposium, held on Zoom on June 16, 2020. Northern Miner group publisher Anthony Vaccaro asked Boyd how the company dealt with the coronavirus, his rating of the mining industry on ESG, and the importance of jurisdiction when choosing mine sites.All this and mor...Read More

Caldas Gold (TSXV: CGC) has announced a US$110 million streaming transaction with Wheaton Precious Metals (TSX: WPM; NYSE: WPM) to expand operations at the Marmato project in Colombia.The proceeds will be used to fund the expansion of Caldas' mining operations in the Deeps Zone, located in the Department of Caldas, the company said.Under the agreement, Wheaton will purchase 6.5% of the gold produc...Read More

Hudbay Minerals (TSX: HBM; NYSE: HBM) has filed its initial brief with the U.S. Court of Appeals regarding the decision made by the U.S. District Court for the District of Arizona almost a year ago that halted the construction of its Rosemont copper project.In July 2019, the District Court revoked the U.S. Forest Service's issuance of the final record of decision for Rosemont, which is expected to...Read More

Gold prices continued to rally on June 22, heading toward the highest since February 2012, after massive inflows into gold-backed exchange-traded funds (ETFs) in the United States.Gold for delivery in August, the most active contract on the Comex market in New York, touched a high of US$1,779 per oz., the highest since February 2012.The World Gold Council reported that June 19 saw a massive 27.3 t...Read More

Canadian junior Silver Dollar Resources (CNSX: SIL) plans to earn 80% of First Majestic Silver's (TSX: FR; NYSE: AG) La Joya silver-copper-gold project, 75 km southeast of the city of Durango in Mexico.A preliminary economic assessment (PEA) in 2013 of the first phase of the project outlines an open pit mine with an initial nine-year mine life and a conventional mill and flotation-leaching plant t...Read More

Libya's coastal city of Sirte, a strategic gateway to major oil facilities, has emerged as a critical point of contention between Turkey and Russia, with France also scrambling to impede Turkey via NATO.Read full newsRead More

The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 1.7 million barrels for the week ended June 19, according to Reuters....Read full newsRead More