Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday December 21, consolidating from their recent year-to-date highs.The three-month aluminium price fell by 1.4% this morning after nearly 30,000 tonnes were delivered into LME-listed warehouses.Warehouses in Port Klang received 27,875 tonnes of aluminium, while a couple of hundred tonnes was also delive...Read More
Jack ChanPosted Dec 21, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal. Short-term signals can last for days and weeks and are more suitable for traders.COT data is supportive for overall higher gold prices.COT data is supportive for overall higher silver prices.Our ratio is o...Read More
The US yesterday agreed on a $900 million economic stimulus package but concerns are mounting about a mutated strain of COVID-19, nine months after the World Health Organisation declared a global pandemic.Gold, which was below $1,500/oz 12 months ago, hit an all-time high above $2,000/oz in August.It was about $1,877/oz at the time of writing.Elsewhere iron ore was a standout, with 58% Australian...Read More
The decrees, published in Congo-Brazzaville's official gazette, have handed Sundance's flagship Nabeba mining permit, Equatorial's Badondo exploration licence, and Core Mining's Avima permit, toRead More
Port prices of both low- and high-grade manganese ore in China continued to trend upward in the week to Friday December 18 after ore traders raised their offers further, partly boosted by the rallying futures silico-manganese market, market sources said. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 32.30 yuan ($4.94) per dmtu on December 18, up by 1 yuan...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Prices for imported ferro-chrome in Japan and South Korea have risen for the first time since late September, buoyed by ongoing trade flow disruptions.Fastmarkets' fortnightly price assessment for ferro-chrome, high carbon, 57-65% Cr, cif dup Japan was $0.73-0.75 per lb on Thursday December 17, up by $0.01-0.03 per lb from $0.70-0.74 per lb on December 3.Similarly, the fortnightly price assessment...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Russia has introduced a temporary export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved a temporary export duty of 5% but of at least 45 euros per tonne on steel scrap exports, according to a statement...Read More
Turkish deep-sea scrap import prices refreshed their multi-year highs at the beginning of the week with the news of fresh deals for European and US cargoes on Monday December 21.A steel mill in the Marmara region booked a European cargo, comprising HMS 1&2 (80:20) at $455 per tonne, shredded and bonus at $470 per tonne and busheling at $475 per tonne cfr. And another steel producer in the same reg...Read More
Share this article TORONTO - Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) announced today high-grade intercepts from the latest 71 diamond drill holes, totaling 10,634 meters, from the 2020 in-mine and near-mine drilling programs at its Segovia Operations. The Company also announced the assay results from five additional kick-off diamond drill holes from the ongoing directional drilling prog...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Christmas Update: It's Round 1 and we're already seeing some great action in the ring tonight, ladies and gentlemen. My father and uncle have immediately launched into politics. My dad threw a mean right "libtard" followed up by several hard-hitting "beta-cuck soyboys" - to which my uncle responded something about the Nazis and China. Feeling a bit of pressure, my aunt was tag teamed in and used o...Read More
This week in Insights we look at a big risk to inflation expectations which has been a big driver of the Canadian Insider stock rally this year. Plus, the bearish view on Bitcoin from two skeptics and drivers behind the the Litecoin rally. Litecoin is gaining on Bitcoin this monthRead the latest edition here. Read More
Transaction prices for domestic steel hot-rolled coil increased further across Europe in the week to Friday December 18, due to limited supply from both domestic and overseas suppliers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?650 ($796.90) per tonne on Friday December 18, up by ?,?43.75 per tonne week on week and by ?,?112.08 per tonne month...Read More
The domestic hot-rolled coil price increased day on day in Northern Europe on Monday December 21 following a rise in ArcelorMittal's offers at the end of last week.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?660.40 ($808.93) per tonne on Monday, up by ?,?10.40 per tonne from ?,?650.00 per tonne on Friday.The index was also up by ?,?37.07 per to...Read More
Domestic flat steel suppliers to Russia's Central Federal District around Moscow were increasingly bullish in the week to Monday December 21 amid a rising export market and good buying activity, sources told Fastmarkets.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 55,500-58,000 roubles ($755-789) per tonne including 20% value-add...Read More
Prices for cold-heading quality (CHQ) and high-carbon wire rod in the United States both surged by $5 per hundredweight ($20 per short ton) month on month, supported by higher ferrous scrap prices. Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 13.42% to $42.25 per cwt ($845 per ton) on Friday December 18 from $37.25 per cwt the prior month.Fastmark...Read More