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

NFL player Drew Brees was in trouble with the internet recently for wearing a T-shirt that said "Say Her Name."There has been an ongoing "Say Her Name" movement since Breonna Taylor, an unarmed Black woman, was shot by police and killed.However, the internet mob assumed Brees was tying the movement to the white Trump supporter Ashli Babbitt, who was killed during the riot at the Capitol building....Read More

Steel rebar and billet prices in the United Arab Emirates rose again in the week to Tuesday January 12 because of higher offers and market indications, but most rebar producers are yet to announce new prices for February production, sources said. Demand for billet and rebar from end users was moderate to strong during the week, sources added. Domestic rebar Steel producers sold rebar at 2,259-2,29...Read More

There was little activity in the export market for long steel products from the Commonwealth of Independent States in the week to Monday January 11 because suppliers are just starting to come back from public holidays. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $650-670 per tonne on Tuesday, flat week on week. Current offers for Russ...Read More

Iron ore prices remained mostly stable on Tuesday January 12, supported by mills replenishing their stocks ahead of the Chinese New Year holiday in mid-February, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $172.67 per tonne, up $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.00 per tonne, up $0.75 per tonne58% Fe fines high-grade premium, cfr Q...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