Aurania Resources hypothesizes that the Colonial Spanish explored for and maybe even mined silver in the area of Lost Cities-Cutucu's Tiria-Shimpia target. In a news release, Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) announced that further study of two roads and nearby topographic features, close to its Lost Cities-Cutucu project's Tiria-Shimpia, suggests they may be ancient exploration or...Read More

StrikePoint Gold reported assays of surface samples from its Willoughby Gold-Silver Project returned grades as high as 37.3 g/t gold and 263 g/t silverin new areas of massive sulphide and veining. In a news release, StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) announced that surface sampling results collected during its 2020 exploration program at its wholly owned Willoughby gold-silver propert...Read More

Rebar consumption in Egypt was up by almost 50% month on month in November due to a resurgence in restocking activity and after the easing of building restrictions led to a slight uptick in demand. Egypt consumed 689,000 tonnes of rebar in November 2020, up by 44.14% compared with the 478,000 tonnes of rebar consumed in October, according to Ramy Saleh, chief business development officer at El Mar...Read More

Stainless steel producer Outokumpu has upgraded its guidance for the fourth quarter of 2020 following better-than-expected sales, the Finnish company said on Tuesday December 15. With production facilities in Finland, Sweden, Germany, the UK, Mexico and the United States, and sales offices around the world, Outokumpu now expects its earnings before interest, taxes, depreciation, and amortization (...Read More

A shortage of scrap has forced Riva Group to halt steel making operations at its Hennigsdorf site in Germany, several sources told Fastmarkets on December 15.The rebar and wire rod producer had to suspend operations at the Hennigsdorf site, in Brandenburg state in the north east of Germany, last week because it had run out of steel scrap, several sources told Fastmarkets."Riva's Hennigsdorf has no...Read More

Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More

Hot-rolled coil prices in the United States continued to test 12-year highs following a wave of quietly announced but successful mill increases, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $48.89 per hundredweight ($977.80 per ton) on Wednesday December 16, up 5.3% from $46.44 per cwt on Tuesday December 15 and up 11.1% from $44 per cwt a...Read More

Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 16 due to a shortage of material in the market, sources told Fastmarkets.But the number of transactions and volumes were reported to be limited due to buyers' concern that the price rise is unlikely to be sustainable for long.Fastmarkets calculated its daily steel hot-rolled coil...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 16.Please click...Read More

Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More

The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More

LMEpassport, a new digital register for physical metals data, is to be rolled out by the London Metal Exchange in 2021, starting with aluminium and gradually phasing in other metals over the next three years.The digital register - part of a sustainability package that includes a spot trading platform and new contracts - is designed to provide a centralized transparency source, the data from which...Read More

Seaborne iron ore prices rose on Wednesday December 16 after the most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) crossed the 1,000 yuan-mark ($153) to close the afternoon trading session, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.45 per tonne, up $1.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $156.71 per tonne, up...Read More

This is EXACTLY what silver tends to do right before SIGNIFICANT declines...by Przemyslaw Radomski via Sunshine ProfitsIt's tempting to ride the silver rollercoaster. After-all, gold's volatile little brother is just that - volatile. Its wilder price swings make some of the investment public believe they can profit from it more quickly. However, it's important to remember and take note of the fact...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US flat product prices maintained momentum through November, with increases accelerating in early December in response to supply shortfalls, rising scrap prices, and improving demand.While we correctly forecast further pricing gains in November, actual prices surpasse...Read More

Turkish deep-sea scrap import prices continued to climb on Wednesday December 16, with fresh bookings heard from Europe and the Baltic Sea regions, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $435 per tonne and bonus at $445 per tonne cfr. The cargo composition could not be verified at the time of publication.Another steel...Read More

RAPAPORT... Grib Diamonds registered sales of $35 million at its final tender of the year as rough prices rose amid robust demand for larger goods.Prices at the December 11 sale increased around 5% compared with the company's previous tender on October 25, Grib head of sales Antony Dear told Rapaport News Wednesday. A total of 450,000 carats sold, with rough weighing 2 carats and higher most...Read More

RAPAPORT... Phillips garnered $27.6 million from its flagship New York watch auction, led by Paul Newman's Rolex "Big Red" Daytona, which sold for $5.5 million.The price for the timepiece, purchased by an anonymous private collector, is the third-highest ever paid for a Rolex watch at auction, Phillips said last week. The December 12 auction, named Racing Pulse, also saw a record price for any Tag...Read More

RAPAPORT... This year could tie as the busiest on record for US retail imports, as consumer demand during the holiday shopping period led to a surge in shipments, the National Retail Federation (NRF) said.Imports for the full year are expected to reach 21.8 million twenty-foot equivalent units (TEU), up 1% over 2019, despite predictions as recently as last month that 2020 would see a 3% decrease,...Read More

RAPAPORT... The Jewelers Vigilance Committee (JVC) will present Jewelers' Security Alliance (JSA) president John J. Kennedy with the 2021 Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community's reputation through their dedication, ethics and integrity. Kennedy is a former assistant commissioner and deputy general coun...Read More