RAPAPORT... Bonhams has named executive chairman Bruno Vinciguerra as its new CEO, replacing Matthew Girling, the auction house said Monday.Girling is leaving the company after 23 years. He joined its management team in 1999 and was appointed global CEO in 2015.While Girling was at the helm, Bonhams successfully extended its international reach, opening a salesroom in Hong Kong in addition to its...Read More
Diamond miner De Beers Group has identified five focus areas that will be advanced across the group’s businesses to further improve safety.The actions were agreed on at the group’s biannual safety summit last week, which brought together CEOs from across the group to deeply engage on Pioneering Safely into a Brilliant Future and sign a pledge to work together to advance safety across t...Read More
The United States imported less ferrous scrap in 2019 amid plentiful supply of competitively priced domestic material, while imports of pig iron - which was expensive compared with No1 busheling - dropped as well.Raw material imports fell by 13.4% for the year to 9,628,184 tonnes from 11,120,193 tonnes in the full year 2018. For the month of December, however, overall imports increased by 12....Read More
Ferrous scrap exports from the United States fell in December but finished 2019 stronger than the prior year, according to US Census Bureau data.December shipmentsHigher ferrous scrap deliveries to Canada and Turkey in December were not enough to offset steep declines elsewhere, such as Bangladesh, versus the prior month. US exports of the product totaled 1,356,144 tonnes during the mont...Read More
Seaborne iron ore prices were rangebound on Thursday February 13 amid higher steel inventories and weak demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.56 per tonne, up $0.88 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.89 per tonne, up $0.88 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.74 per tonne, up $0.81 per tonne.58% Fe fines high-premium, c...Read More
Seaborne coking coal prices were steady on Thursday February 13 amid thin trading.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $160.73 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per tonne, unchangedHard coking coal, cfr Jingtang: $142.60 per tonne, unchangedAustralian miner South32 said during the day that i...Read More
Brazil-based miner Vale has lowered its iron ore fines production guidance for the first quarter of 2020 after its operations were adversely affected by heavy rain, the company said on Tuesday February 11.Vale said it was expecting to produce 63-68 million tonnes of iron ore fines in the January-March period, down by 5 million tonnes from an earlier estimate of 68-73 million tonnes.The miner suffe...Read More
A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.The sudden jump in the number of new cases reported was due to a change in how the infection is being reported, rather than a sudden jump in people actually being infected. The latest da...Read More
China's domestic hot-rolled coil remained under pressure on Thursday February 13 amid low economic activity downstream, though major mills maintained their export offers at relatively high levels.DomesticEastern China (Shanghai): 3,500-3,510 yuan ($502-504) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne, unchangedSellers in Shanghai were asking for 3,500-3,510 yua...Read More
China's domestic rebar prices dropped slightly on Thursday February 13 on persistently weak demand while the export segment tumbled after cargoes were sold much lower than prevailing rates. Eastern China (Shanghai): 3,370-3,400 yuan ($483-488) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,420-3,450 yuan per tonne, down 10-20 yuan per tonneMost construction projects are delaying t...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade. Index futures responded to news of a spike in reported coronavirus cases in China. The Shanghai Composite Index dropped 20.83 to 2905.07 in overnight trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was a...Read More
Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak. Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,00...Read More
A spike in the reported death toll from the novel coronavirus (2019-nCov) in China led to a pullback in risk asset prices in early trading this morning, Thursday February 13, but the spike is not all what it seems.The sudden jump in the number of new cases reported was due to a change in how the infection is being reported, rather than a sudden jump in people actually being infected. The latest da...Read More
Key data from the Wednesday February 12 pricing session in Shanghai and London. Key drivers Tight spot supply pushes cobalt hydroxide payables up again, now at their highest since the end of October 2019.Customers pay a premium for nearby, prompt material in preference to that coming from Africa, where logistical bottlenecks have also slowed down shipments. ...Read More
China's exports of ammonium paratungstate (APT) in 2019 plunged year on year due to weakened overseas demand and reduced domestic output. Around 3,161 tonnes of APT left China in 2019, down 36.8% from 5,001 tonnes in 2018, according to official but unconfirmed data seen by Fastmarkets. The drop in export volumes in 2019 can be attributed mainly to decreased demand from Europe, which is usually the...Read More
Talisker Resources (CNSX: TSK; US-OTC: TSKFF) only listed on the Canadian Stock Exchange last April, but the junior holds more than 70% of the up-and-coming Spences Bridge belt in southwestern British Columbia.Talisker is a spinout of South America-focused explorer Sable Resources, which staked the Spences Bridge belt claims in B.C. in just one day in September 2018.Matt Filgate, a senior geologis...Read More
The metals markets promise to be full of fascinating developments and unexpected twists in 2020. Mining equities will not be excluded from the drama.This partly reflects the reality that global economic, political, and financial trends - which are the exogenous bases for much of what happens in metals and mining - are also likely to surprise and fascinate observers and participants, from the ongoi...Read More
Mine geologists - whether they work at open-pit or underground mines - eventually end up supervising drill machines, and sometimes the work can be dangerous.My first job as a na??ve geologist in my early twenties was working underground in the deep mines of South Africa's Transvaal, now known as Gauteng province.I had a three-year contract and couldn't believe my luck. Not only had I managed to av...Read More
The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) recently released its updated Canadian standards and guidelines for the valuation of mineral properties (CIMVAL 2019).Its new code is the result of a multi-year process by CIM's Special Committee on the Valuation of Mineral Properties (CIMVAL), and underwent rigorous internal and external review prior to its adoption by the CIM Counc...Read More