Trading company Glencore has joined the Aluminium Stewardship Initiative (ASI) as a production and transformation member, ASI said on January 27. "Responsibility is one of Glencore's values. We are committed to extracting and producing metals, minerals and energy products that meet our stakeholders' social, ethical, environmental and human rights expectations," Robin Scheiner, head of the aluminiu...Read More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesOceanaGold marks three decades of gold standard mining SPONSOREDoceanagoldAnglo reported Q4 copper production of 167,800 tonnes, up 6% year-on-year and up 1% quarter-on-quarter, a rise the comp...Read More
Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction of one of the country's oldest Aboriginal heritage sites last year. "To achieve these goals, Rio Tinto chief executive Jakob Stausholm has appointed a permanent chief exec...Read More
While steel reinforcing bar prices in the United States have held steady over the past week, market participants were leery of procuring more material given expectations that ferrous scrap costs may decline during next month's domestic trade. Fastmarkets' weekly assessment for steel reinforcing bar (rebar), fob mill US held at $39.75 per hundredweight ($795 per short ton) on Wednesday January 27....Read More
Demand for steel rebar was very weak in Egypt in the week to Thursday January 28, with buyers expecting producers to reduce their prices.The rebar producers, however, had not changed their prices at the time Fastmarkets made its price assessment.One of the main reasons for weak rebar demand was the construction ban in the country. Egypt imposed a ban on construction in May 2020, although it eased...Read More
Steelmaker ArcelorMittal has increased its official spot offer prices for coil products across Europe by ?,?20-30 ($24-36) per tonne with immediate effect, sources told Fastmarkets on Thursday January 28.New offers for hot-rolled coil have increased to ?,?750 per tonne ex-works, up by ?,?20 per tonne, while new offers for hot-dipped galvanized coil moved up by ?,?30 per tonne to ?,?880 per tonne e...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Thursday January 28, after market sentiment across the board has turned more cautious.* Asian-Pacific equities and major western pre-market equity index futures were weaker this morning* US Dollar Index firmed on Wednesday while equities sold-offBase metalsThere were more falle...Read More
Turkish prices for steel billet have continued to soften over the past week because of limited demand and falling scrap costs, market sources said on Thursday January 28.Imported scrap prices have been falling in the country, with mills slowing their bookings due to the weak demand for billet and finished steel.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, w...Read More
Domestic steel rebar and wire rod prices in Turkey have gone down over the past week in response to falling scrap costs and soft demand in the local market, sources said on Thursday January 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 5,200-5,300 lira ($705-718) per tonne on Thursday, down from last week's 5,450-5,550 lira per tonne.The steel...Read More
Turkish export prices for steel rebar and wire rod continued to fall over the past week, in line with the decreasing scrap costs that have resulted from weak demand, sources said on Thursday January 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $600-620 per tonne on Thursday, down from last week's $620-630 per tonne fob on an actual we...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Index futures recovered slightly following release of economic news at 8:30 AM EST. Consensus for fourth quarter annualized real U.S. GDP was an increase of 4.0% versus a gain of 33.4% in the third quarter. Actual was 4.0%. Consensus for Weekly Jobless Claims was 875,000 versus upwardly...Read More
Bangladeshi steelmakers avoided steel scrap imports over the past week and instead focused on procuring material from the domestic market, sources told Fastmarkets on Thursday January 28.Bangladeshi mills are concerned the market will keep going down and are, therefore, reluctant to complete import deals in the current market climate, a Bangladeshi steelmaker source said.Domestic sc...Read More
Iron ore prices fell on Thursday January 28, with weak mill margins and expected crude steel production cuts weighing on market sentiment, sources told Fastmarkets Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $157.42 per tonne, down $9.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $158 per tonne, down $8.65 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.81 pe...Read More
The seaborne hard coking coal fob index jumped on Thursday January 28 following a recent uptrend in the premium hard coking coal fob price, while the Chinese domestic coke price increased by 100 yuan ($15) per tonne nationwide, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.10 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $217.73 per tonne, up $0.49 per tonn...Read More
A summary of Fortescue Metals Group's (FMG's) iron ore results for the three months ended December 31, 2020, as stated in its latest production report released on Thursday January 28. In briefIron ore shipments in October-December - the second quarter of FMG's 2021 financial year ending June 30, 2021 - increased by 5% compared with July-September. Increase contributed to its record shipment of 90....Read More
ELKO, Nev., Jan. 28, 2021 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (NASDAQ: USAU) today announced that it has entered into a securities purchase agreement with certain institutional and accredited investors, providing for the purchase and sale of 914,136 shares of common stock at a price of $10.54 per share in a registered direct offering, resulting in to...Read More
Lead and nickel led the declines on the London Metal Exchange on January 28 morning, while most metals in the complex dropped around 1% of their futures prices due to the pressure from a rising dollar index and strained stock markets. LME nickel's three-month price dropped by 1.6% to $17,635 per tonne on Thursday morning, its lowest since the start of the year.The metal entered its fifth day...Read More
China's domestic rebar prices stopped rising on Thursday January 28 due to weakening end-user demand.DomesticEastern China (Shanghai): 4,280-4,310 yuan ($663-667) per tonne, unchangedThe spot market failed to sustain the upward momentum from Tuesday, with construction sites gradually suspending work since last week to allow workers to return to their home towns for the Chinese New Year.The declini...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Thursday January 28, after market sentiment across the board has turned more cautious. Asian-Pacific equities and major western pre-market equity index futures were weaker this morningUS Dollar Index firmed on Wednesday while equities sold-offBase metals There were more fallers...Read More
China's Dalian Commodity Exchange (DCE) is adding more iron ore brands for physical delivery and has adjusted the premiums and discounts for several existing products, to take effect for contracts beginning on February 2022, it said on Wednesday January 27.The exchange added Bengang concentrate, a domestic product produced by Benxi Iron & Steel Group, to its physical delivery list. This brand carr...Read More