Speaking during the company's December-quarter earnings call Thursday, Goncalves said 2020 would be a transformational year for the 173-year-old company.Goncalves is excited about the AK Steel acquisition, since it will add fully integrated capacity to the company's production portfolio. That company mainly serves the automotive market, providing materials required for electric vehicle produc...Read More
The work is across 11 projects in Australia and Africa.The largest is a A$200 million underground contract for Panoramic Resources' Savannah nickel mine in Western Australia. The three-year contract, which was previously flagged, will begin next month.The remainder of the work was won by Perenti's surface mining group.It includes a three-year contract with Idemitsu Australia at the Boggabri c...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 21.China The seaborne price of low-grade manganese ore was static, with buyers resisting attempts by some producers to raise offer prices, amid high inventories and weak demand. The seaborne price of high-grade manganese ore rose after some deals were concluded at higher offer levels, with l...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.ChinaThe price of UG2 chrome ore dropped amid bids from alloy smelters as low as $130 per tonne after China's major stainless steel mills kept their February tender prices flat month-on-month.The market had expected a rise and the rollover knocked sentiment.Spot Chinese ferro-chrome pric...Read More
Adam HamiltonArchivesFeb 21, 2020 Gold is enjoying an awesome week, surging back above $1600 for the first time in nearly 7 years! That big round psychologically-heavy level is really catching traders' attention, great improving sentiment. Yet this recent gold surge has proven peculiar. Unlike normal rallies, the buying driving this one largely hasn't come from gold's usual primary drivers. The st...Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 408,34954,70066,606175,519561,131650,474682,437 Change from Prior Reporting Period 51,8146,1397,343-6,11041,71153,04755,193 Traders 25958685356336164 Small Speculators LongShortOpen Interest 64,84332,880715,317 4,2462,10057,293 non reportable positionsCha...Read More
Gold is enjoying an awesome week, surging back above $1600 for the first time in nearly 7 years! That big round psychologically-heavy level is really catching traders' attention, great improving sentiment. Yet this recent gold surge has proven peculiar. Unlike normal rallies, the buying driving this one largely hasn't come from gold's usual primary drivers. The stealth buying behind this...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The inter-merchant spot market for light iron scrap in the UK was unchanged in the week ended Friday February 21, stable for a second week amid steady demand and regular increases in European scrap export prices, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?70-90 ($90-116) per tonne on Friday....Read More
The price of ferrous scrap imported into India surged this week on freight rate increases and a rising Turkish scrap market, sources told Fastmarkets on Friday February 21.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $303.09 per tonne on Friday, up by $16.13 per tonne from $286.96 per tonne one week ago.Deals for shredded at the start of the week were...Read More
Turkish deep-sea scrap import prices continued to surge on Friday February 21, with mills booking more cargoes for March shipment, sources told Fastmarkets.A steel producer in the Izmir region booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 10,000 tonnes of shredded at $285 per tonne and 2,000 tonnes of bonus at $290 per tonne cfr.Another steel mill in the Iskender...Read More
The equity markets barometer suggests concerns over the economic impact of the novel coronavirus (2019-nCoV) have picked up again over the past 24 hours, with Asian equities weaker this morning, Friday February 21, as are most of the metals.We said on Thursday that markets were focused on coronavirus developments more so than the impact to supply chains, but it seems that traders are now getting m...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.China The Chinese ferro-silicon spot price remained as high as in the previous week with major alloy producers holding their offer prices at 6,800 yuan ($966) per tonne. Cross-provincial transport has slightly improved in the past week. Market participants expected a downtrend in the spo...Read More
Share this articleVANCOUVER - Teck Resources Ltd. is warning that it will take an impairment charge of about $1.13 billion if the federal government decides not to approve its Frontier oilsands mining project.A decision on the $20.6-billion, 260,000-barrel-per-day project, which is expected to produce about four million tonnes of greenhouse gas emissions per year over 40 years, is expected befor...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Nouveau Monde Graphite Inc. (TSX.V: NOU; OTCQX: NMGRF; Frankfurt: NM9) is developing the Matawinie graphite mining project, located in Saint-Michel-des-Saints, 150 km north of Montr?(C)al, QC, and it is the largest graphite operation projected in the Western world. The 2018 Feasibility Study revealed strong economics, with projected graphite concentrate production of 100,000 tons per year, with an...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 21.China The seaborne price of low-grade manganese ore was static, with buyers resisting attempts by some producers to raise offer prices, amid high inventories and weak demand. The seaborne price of high-grade manganese ore rose after some deals were concluded at higher offer levels, with l...Read More
Domestic prices for hot-rolled coil in Northern Europe have increased day on day due to better demand from distributors, sources told Fastmarkets on Friday February 21.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?483.99 ($522.49) per tonne on Friday February 21, up by ?,?2.92 per tonne from ?,?481.07 per tonne on February 20.The index was calculated ba...Read More