Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data. Stricter lockdowns measures in many countries are a headwind for equity markets, which may flow into the metalsWith gold prices up and US treasury yields down, this suggests a pick-up in haven demandBase metals The three-m...Read More
Belgian battery-materials manufacturer Umicore has upgraded its 2020 earnings guidance following a stronger-than-anticipated performance in November and December in its catalysis and recycling segments, the company said on Monday December 14. Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to be in the region of ?,?530 million ($644 million), compared with the...Read More
Belgian battery-materials manufacturer Umicore has upgraded its 2020 earnings guidance following a stronger-than-anticipated performance in November and December in its catalysis and recycling segments, the company said on Monday December 14. Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to be in the region of ?,?530 million ($644 million), compared with the...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 15 that are worth another look.Brazilian flat steel sales from distributors fell in November compared with the previous month due to limited supply from steelmakers but increased on an annual basis, according to national flat steel...Read More
Brazilian flat steel sales from distributors fell in November compared with the previous month due to limited supply from steelmakers but increased on an annual basis, according to national flat steel association Inda.Sales of flat steel products totaled 339,400 tonnes last month, down by 8.7% from 371,700 tonnes in October but up by 15.8% from 293,200 tonnes in November 2019, Inda said...Read More
Share this article VANCOUVER - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) announced that Barrick Gold Corporation has mobilized two drill rigs to the Company's Pueblo Grande Project to commence an initial phase of exploration drilling. Barrick has also provided Precipitate an update on exploration activities conducted to date as part of its earn-in agreement whereby Barrick has the right t...Read More
Share this article VANCOUVER - Great Atlantic Resources Corp. (TSXV.GR) announced it has begun a trenching program at its Mascarene Property, located in southwest New Brunswick. The program is being conducted within the eastern region of the property testing areas of historically reported copper, cobalt and nickel mineralization within a broad magnetic high trend. The December trenching program i...Read More
Domestic prices for hot-rolled coil increased day on day in Northern Europe on Tuesday December 15 due to a materials shortage in the market, and steelmakers are preparing to announce higher offers soon, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?636.25 ($772.68) per tonne on December 15, up by ?,?12.92 per...Read More
Share this article LONGUEUIL - Reunion Gold Corporation (TSX-V: RGD) announced assay results from its recently completed 2020 drilling program on the Crique Filon prospect within the Boulanger Project in French Guiana.?EURRead More
We learned from Rudi Fronk, Chairman & CEO of Seabridge Gold (TSX: SEA, NYSE: SA), that they are buying Pretium Resources' world-scale Snowfield Property, which hosts a large gold resource, immediately adjacent to Seabridge's 100%-owned KSM gold-copper project, in northeast British Columbia, Canada. This transformative acquisition enables exciting new development opportunities for KSM, which could...Read More
Buyers of steel rebar in the United Arab Emirates expect new domestic prices to be announced this week with an increase of about 315-515 dirhams ($86-140) per tonne, sources told Fastmarkets on Tuesday December 15.Domestic rebarSince November, the country's steel producers have been offering rebar at 1,984,1,985 dirhams ($540) per tonne ex-works for orders to be produced in December. However, the...Read More
It's that time of year when we stock market pontificators write about what we expect in the new year. But first let's see how we did with last year's estimates. It turns out that even with the monkey wrench COVID-19 threw at us, we did pretty well.Here is the recap, with last year's predictions in italics:1. 5G WinnersThe 5G rollout is happening now. Phones will become 100 times faster. Cable TV w...Read More
The export market for long steel products from the Commonwealth of Independent States (CIS) increased again during the week to Monday December 14 amid new sales and strong billet prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $600-610 per tonne on Monday, up by 11% from $540-550 per tonne a week...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
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index rose a modest 2.06 points to 1266.92, adding 0.2% to bring total gains over the past 6 weeks to 19%.Our long-term momentum indicator, MACD, fell 3 points to -2.23 and our short-term momentum indicator, RSI, dipped 2.7 points to 76.41. Support is at 1250 and 1238. Resi...Read More
Ferrous scrap prices in Mexico continued to increase in the week ended on Friday December 11 amid high demand from steel producers and a narrowing price gap between the north and central regions.At least two major steelmakers in the region near the country's northern Monterrey city announced increases in their scrap buying prices amid high competition to secure supply. A third steel producer...Read More
Domestic prices for ferrous scrap in Italy increased significantly in the month to Tuesday December 15, supported by the global uptrend as well as a material shortage in the domestic market, sources told Fastmarkets this week.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy was ?,?260-265 ($316-322) per tonne on December 15, up b...Read More
Domestic ferrous scrap prices in Germany increased significantly in the month to Tuesday December 15, following the trend in the international market and supported by limited supplies, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill, Germany, was ?,?285-310 ($346-376) per tonne on December 15, up by ?,?240-245 p...Read More
Buyers of steel rebar in the United Arab Emirates expect new domestic prices to be announced this week with an increase of about 315-515 dirhams ($86-140) per tonne, sources told Fastmarkets on Tuesday December 15.Domestic rebarSince November, the country's steel producers have been offering rebar at 1,984,1,985 dirhams ($540) per tonne ex-works for orders to be produced in December. However, the...Read More
Offer prices for steel billet originating in the Commonwealth of Independent States continued to move up due to surging scrap costs and tight supply, while trading was quiet this week on offer-bid disparity, sources told Fastmarkets on Tuesday December 15. Offers for steel billet for February shipment from some Russian mills were heard within the range of $560-580 per tonne fob on Tuesday, with so...Read More