Aluminium premiums across the globe were mostly flat in the week ending Tuesday January 12, with market participants continuing to keep a close watch on the volatile London Metal Exchange spreads.Uncertainty in Europe due to spreadsImport premium widens in BrazilUS Midwest market quietDomestic market more favorable in Japan.Backwardations create uncertainty in EuropeAluminium premiums throughout E...Read More

The three-month nickel contract was the biggest gainer on Tuesday January 12 with a 3% rise in a broad-based reversal of fortunes for base metals on the London Metals Exchange, due to expectations of further Covid-19 stimulus in the United States. Nickel's three-month price bounced back by 3.4% on Tuesday at 5pm to $17,668 per tonne, coming back to levels seen at the end of the first week of Janua...Read More

Here are five Fastmarkets stories you might have missed on Tuesday January 12 that are worth another look.Mexican steel scrap prices continued their upward trend in the week ended Friday January 8, especially in the country's central Baj?-o region, while most prices were stable in the northern Monterrey region.Philippine...Read More

Bob Moriarty ArchivesJan 12, 2021When companies begin to express interest in doing a private placement it is common for some of the funds they talk with to start to short the shares in order to force the placement price down. And it’s typical that when a company has announced a price for a placement for investors to either short the stock or to sell it in order to participate in the PP and p...Read More

Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comJan 12, 2021 The traditional Chinese New Year “firecracker rally” for gold may be a dud this year, but investors who followed my “buy into $1788 and sell some into $1966” recommendation are in great shape. Please click here now. Double-click to enlarge this weekly b...Read More

An overview of the chrome ore and alloy markets on Tuesday January 12 and their latest price moves.China Spot domestic ferro-chrome prices hit a 21-month high amid surging offers from suppliers after Ulanqab, a major ferro-alloy production hub in China's Inner Mongolia, ordered small furnaces - with a power consumption of...Read More

The nickel price rose 3.4% to more than US$17,614/t on the London Metal Exchange, amid reports the Philippines had suspended mining on the Tawi Tawi islands.Marex Spectron's Alastair Munro said while the suspension was not likely to immediately impact the physical markets, it highlighted "how important sentiment has become to trading in our space"."Moreover, the overnight rallies on copper and nic...Read More

Monument said it had entered a definitive purchase and sale agreement with Fortress over its subsidiary which owned the Mengapur copper and iron project.Fortress said it believed the Mengapur acquisition would bolster the company's objective to become a significant regional player in the iron ore industry and would increase its total magnetite resource from 7.18 million tons to 17.93Mt.It had yest...Read More

Philippine President Rodrigo Duterte has directed the closure of mining operations on Tumbagaan Island in Languyan, in the province of Tawi-Tawi, to rehabilitate the area, the Philippine News Agency reported on Tuesday January 12."The island has, at this point, been mined out. And while rehabilitation efforts are underway, the President is issuing a directive to stop any and all mining in Tumbagaa...Read More

Here are five Fastmarkets stories you might have missed on Tuesday January 12 that are worth another look.Mexican steel scrap prices continued their upward trend in the week ended Friday January 8, especially in the country's central Baj?-o region, while most prices were stable in the northern Monterrey region.Philippine...Read More

Here are five Fastmarkets stories you might have missed on Tuesday January 12 that are worth another look.Mexican steel scrap prices continued their upward trend in the week ended Friday January 8, especially in the country's central Baj?-o region, while most prices were stable in the northern Monterrey region.Philippine...Read More

Mexican steel scrap prices continued their upward trend in the week ended Friday January 8, especially in the country's central Baj?-o region, while most prices were stable in the northern Monterrey region.Several steel producers in Baj?-o and nearby San Luis Potos?- state have increased their buying prices by around 200 pesos ($10) per tonne for most grades, in order to secure volumes, according...Read More

Turkish steelmakers stepped back from the deep-sea scrap import market on Tuesday January 12, focusing instead on finished steel and billet sales, sources told Fastmarkets.After a number of steel scrap cargoes were booked at the end of the last week, the market has generally been quiet."Market is very quiet [so far this] week, but I still expect the mills to book more carg...Read More

After further weakness in the base metals on Monday January 11, that saw the complex close down by an average of 1.5%, prices were up across the board on the London Metal Exchange this morning but those on the Shanghai Futures Exchange base metals prices were down across the board while they followed yesterday's performance on the LME. Asian-Pacific equities were mixed this morningGold prices were...Read More

First Cobalt Corp has finalized long-term cobalt hydroxide feed deals with Glencore and trading company IXM, a subsidiary of mining company CMOC, as part of a plan by the Canada-based company to recommission and expand a currently idle cobalt refinery in the country.The agreements will see Glencore and IXM provide a total of 4,500 tonnes per year of contained cobalt to the First Cobalt refinery, s...Read More

Domestic prices for hot-rolled coil in Northern Europe were stable day on day on Tuesday January 12 following an increase a day earlier, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?688.00 ($837.09) per tonne on Tuesday, unchanged day on day.On Monday, the index had jumped by ?,?20.50 per tonne day on day.The index...Read More

Share this articleMONTREAL - Harfang Exploration Inc. (TSX-V: HAR) reported new gold discoveries on its 100% owned Serpent Property in James Bay. Three new gold showings on grab samples returning values of 125, 60.5, 33.8 and 1.7 g/t Au scattered over 2 km leading to major claim acquisitions (293 claims covering 15,140 ha) by map designation.The newly-discovered high-grade gold occurrences open...Read More

Share this articleMONTREAL - Geomega Resources Inc. (TSX.V: GMA) (OTC: GOMRF) a developer of clean technologies for the mining, refining and recycling of rare earths, reported the successful completion of testing and optimization of its Rare Earths Pilot Plant , located at the National Research Council Canada facility in Boucherville, Quebec.This is the 2nd generation pilot plant after the complet...Read More

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia went up over the past week with higher offers and bids, market sources said on Tuesday January 12.Buyers believed that offer prices were too high and asked for discounts, but sellers did not accept the lower bids. As a result, no deals were heard."Bookings are very slow in the UAE due to the heavy increase in prices," one...Read More

China's hot-rolled coil markets dropped for a second consecutive day on Tuesday January 12 on inactive trading conditions. Domestic Eastern China (Shanghai): 4,550-4,570 yuan ($702-705) per tonne, down 60-80 yuan per tonne A Shanghai-based trader said he received few orders from downstream buyers on Tuesday even though his offers were 60-80 yuan per tonne below those issued on Monday. He said dema...Read More