A six-week price rally in the UG2 chrome ore market since late June was reversed in the week to Tuesday August 17, mainly due to falling demand for material from both the seaborne and portside markets.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, nudged down by $2 per tonne to $182 per tonne on August 17, from $184 per tonne one week earlier...Read More
New Found Gold (TSXV: NFG; US-OTC: NFGFF) is to issue 4.4 million flow-through common shares of the company at a price of $11.39 each to fund exploration at its Queensway gold project in Newfoundland and its Lucky Strike project located in Ontario.The shares will be purchased by a syndicate of underwriters led by Canacccord Genuity and BMO Capital Markets, and will raise a total of $50 million. Th...Read More
Trevali Mining (TSX: TV; US-OTC: TREVF) has released a feasibility study for the expansion of its Rosh Pinah zinc-lead-silver mine in Namibia to 1.3 million tonnes per year from 700,000 tonnes per year.At an initial capital cost of US$111 million, the expansion will include modifications to the mill, a new paste fill plant, a water treatment plant, a new portal, decline and material to the WF3 de...Read More
Ocean carrier ZIM now expects to earn $4.8 billion-$5.2 billion this year - five times what it earned in 2020.Read full newsRead More
Navarre Minerals' first diamond drilling at the historical St Arnaud Goldfield in Victoria is off to a rousing start with the intersection of visible gold.Read full newsRead More
Outback Goldfields Corp . is pleased to provide an update on explRead full newsRead More
Inflation climbed to 3.7% last month — the highest rate since 2011. Rent, fuel, and groceries are all noticeably more expensive this year, as the nation grapples with supply-chain issues and an oversupply of currency from the Bank of Canada. The depreciating value of capital is bad news for investors. It’s an invisible drain on your wealth. Here are three ways to protect your asse...Read More
While markets have been flying high, gold miner stocks have taken a brutal beating since last year. And importantly, the upturn still does not look convincing to take a bet on the yellow metal miners. However, one TSX stock that has remarkably thrashed peers is Franco-Nevada (TSX:FNV)(NYSE:FNV).Top Canadian stock to buy for the long termFNV stock has returned more than 20% so far this year, while...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 19 that are worth another look.Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on...Read More
Tin was the most affected metal on Thursday's sell-off on the London Metal Exchange, while all metals fell further with risk-off sentiment spreading across commodities and exchanges while Covid-19 continues to dent demand expectations. Tin's three-month price fell 6.4% at the 5pm close to $33,118 per tonne, despite falling by as much as 11% during early trading to $31,500 per tonne on Thursday for...Read More
The premium on copper cathodes imported into China shot up on Thursday August 19 to its highest level since May 2020, buoyed by the opening of an arbitrage window between London and Shanghai.Fastmarkets assessed the benchmark copper grade A cathode premium, cif Shanghai, at $75-100 per tonne on Thursday, up by $10-20 per tonne from $65-80 per tonne on Wednesday, and the highest since late May last...Read More
GlobalData said lead production would amount to 4.69 million tonnes, as output grows 3.3% in China and by 9.9% in Peru. Peru witnessed a 21.Read More
Here are five Fastmarkets stories you might have missed on Thursday August 19 that are worth another look.Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on...Read More
European ferro-titanium suppliers are set to push up their offer prices for the remaining months of 2021 with steel mills returning to the market after the summer slowdown, industry sources told Fastmarkets.Suppliers have reported deals done above $8 per kg basis ddp for ferro-titanium for delivery in the fourth quarter, as well as deals done approaching $8 per kg for prompt shipment in Europe.The...Read More
European ferro-titanium suppliers are set to push up their offer prices for the remaining months of 2021 with steel mills returning to the market after the summer slowdown, industry sources told Fastmarkets.Suppliers have reported deals done above $8 per kg basis ddp for ferro-titanium for delivery in the fourth quarter, as well as deals done approaching $8 per kg for prompt shipment in Europe.The...Read More
The Turkish deep-sea scrap import market was quiet on Thursday August 19, with the mills keeping their purchases limited for September-shipment cargoes, Fastmarkets was told.The most recent trade was recorded on Wednesday August 18, when a steel producer in northern Turkey booked a European cargo comprising 25,000 tonnes of heavy melting scrap 1&2 (80:20), 7,500 tonnes of shredded and 7,500 tonnes...Read More
A month-on-month drop in the Kanto Tetsugen auction and a price cut by major mill Tokyo Steel on Thursday August 19 has increased pessimism in the Japan steel scrap market, sources said.Japan's Kanto tender closed at a fall of $11 per tonne month on monthBearish sentiment in Chinese steel markets weighed on scrap import pricesTaiwan imported containerized scrap price stableJapanJapan's Kanto...Read More
Chinese battery materials producer GEM Co has signed a five-year strategic cooperation framework agreement with Shanghai-listed battery manufacturer Farasis Energy to recycle spent electric vehicle batteries and battery scrap in China. Under the framework agreement, GEM will recycle, dismantle and re-use spent batteries and battery scrap from Farasis Energy, with prices to be led by market conditi...Read More
Boab Metals Limited (ASX: BML) is based in Western Australia and is a base and precious metals exploration and development company, fast tracking it's 75% owned, Sorby Hills Project towards production, following outstanding drilling success and a recent Resource update (44.9Mt at 4.3% Pb equivalent). The Sorby Hills Base Metals Project is located 50km northeast of Kununurra, in East Kimberley and...Read More
Key data from Fastmarkets' pricing session in China on Wednesday August 18. Key drivers The spot cobalt metal price in China narrowed up after local futures prices strengthened. And reducing stocks brought further support, with most sellers pushing up offer prices in response.The cobalt tetroxide price widened down with...Read More