The latest metal markets news and price moves to start the North American day on Tuesday March 13. Base metals prices on the London Metal Exchange edged higher during morning trading, with most metals recovering from Monday's lull."The LME complex is a mixed bag with zinc and nickel finding some [arbitrage]-related buying and aluminium [finding] some light consumer demand to help lift [prices] off...Read More
The latest news and price moves to start the Asian day on Wednesday March 14.Lead was the strongest performer on the London Metal Exchange on Tuesday March 13, closing 2.2% higher at the 5pm close. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Early starts to the multitude of labor negotiations due at Chilean copper mines this year could mitigate the r...Read More
Upper group two (UG2) chrome ore and charge chrome prices were firmer on good demand and appreciation of the South African rand, while Asian ferro-chrome prices were mixed and US and European ferro-chrome prices were stable. UG2 chrome ore and charge chrome prices rise in ChinaChine ferro-chrome prices widen as stocking activity continues in East and South ChinaEurope and US ferro-chrome prices st...Read More
Due to an administration error, the Metal Bulletin 44% manganese ore index was calculated incorrectly on March 9. Metal Bulletin has corrected its 44% manganese ore index, which was published incorrectly on Friday due to an administrative error.It was incorrectly published at $8.81 per dmtu on Friday, which has now been corrected to 8.63 cents per dmtu. Metal Bulletin's price book a...Read More
The latest ferro-tungsten and ammonium paratungstate (APT) transactions, bids, offers and assessments in Europe, Vietnam and China, with blue tungsten oxide (BTO) and yellow tungsten oxide (YTO) deals taken into consideration.To view the latest price quotations, follow the links below:China- APT, fob China- Ferro-tungsten, fob ChinaEurope- APT, cif Rotterdam- Ferro-tungsten, in-warehouse Rotterdam...Read More
Traders in China are playing a key role in continuing the rally in manganese ore prices, nearly two weeks after end-users met to agree a price ceiling, market sources told Metal Bulletin.Manganese alloy smelters held a meeting earlier this month and agreed not to buy ore above $8.00 per dry metric tonne unit (dmtu), on a cif basis in China. The agreement has so far failed to cap prices, which shot...Read More
The Chinese vanadium market edged upward despite limited trading activity, while the European and US ferro-vanadium markets surged on significant supply concerns. Chinese vanadium suppliers raise offers despite limited activity European market surges on increasingly tight supply US ferro-vanadium market strengthens again, supply squeeze supportsChinese ferro-vanadium export prices continued to tre...Read More
Iron ore prices stayed above $69 per tonne cfr China on Tuesday March 13 on a lack of trading activity. Metal Bulletin's 62% Fe Iron Ore Index Today: $69.78 per tonne cfr Qingdao Daily change: down by $0.15 per tonne Month-to-date average: $74.41 per tonne Metal Bulletin's 58% Fe...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara...Read More
The seaborne coking coal market lost ground on Tuesday March 13 after a trade was reportedly done at a lower level. A top Australian brand with a March-laycan changed hands at around $220-221 cfr China, according to various sources. End users in China continued to stay on the sidelines in anticipation of lower prices, after as premium hard coking coal cargoes transacted some $6-14 per tonne cfr Ch...Read More
Due to a change in publication time by the London Bullion Market Association (LBMA) to midnight on the day of publication, the daily LBMA gold and silver prices will be published by Metal Bulletin on the following day. The change will apply to the prices below from April 1, 2018: Gold London Morning Daily Price $ per troy oz Gold London Morning Daily price ? per troy oz Gold London Afternoon...Read More
Low and high grade cobalt prices converged and continued to rise last week, amid heightening tightness for broken cathode and sellers' reluctance to offer to spot inquiries. High and low-grade cobalt prices were both assessed at $39.50-40.75 per lb, in-warehouse, on Friday March 9. The two grades were last assessed at parity on December 1. The high-grade price increased from $39.40-40.45 per lb on...Read More
Hiroki Oda has been appointed vice president, marketing and sales, for Freeport Cobalt, based in Tokyo, Japan, US-based parent company Freeport-McMoRan has announced.Oda will be responsible for strategy development, marketing and global sales for the entire Freeport Cobalt product line, and will report to Stephen Higgins, president of Freeport Cobalt.He was previously Freeport Cobalt's global busi...Read More
Despite the better-than-expected 2018 Chinese government's subsidy policy on electric vehicles (EVs), cobalt demand in local market is likely to be subdued after transitional period specified in the new policy expires in June, market participants told Metal Bulletin.As the market had expected, China's 2018 EV subsidy policy prioritizes pure EVs with a higher driving range and energy density. Yet,...Read More
The Massachusetts Institute of Technology and Commonwealth Fusion Systems have partnered to advance a new generation of fusion experiments and power plants based on advances in high-temperature superconductors, which could help achieve the long-sought goal of producing fusion power.In a press release, the scientists and funders involved in the project define fusion power as a potentially "inexhaus...Read More
Barrick Gold's chairman John Thornton has just given a fresh boost to the company's global employee share plan, leading by example.The boss of the world's top miner of the precious metal bought Tuesday 306,000 additional shares in the company, bringing his total share ownership position to 2,720,991 common shares.Two other directors also hiked their stake, Barrick said, including Rob Prichard - w...Read More
Rio Tinto-controlled Turquoise Hill Resources said Tuesday it had received an "information" request from the Mongolian Anti-Corruption Authority (ACA) to provide financial data associated to its giant Oyu Tolgoi copper and gold mine in Mongolia.The petition relates to an investigation about possible abuse of power by authorized officials during negotiation of the 2009 Oyu Tolgoi investment agreeme...Read More
The world's fifth biggest gem-quality diamond ever found was sold for $40 million on Monday, the company that found the massive rock said.Africa-focused Gem Diamonds (LON:GEMD) dug up the D colour, Type IIa rough diamond, which is about the size of two golf balls, at its flagship Let??eng mine in Lesotho in January.The rock, named "The Lesotho Legend," was acquired by an unnamed buyer in Ant...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) spiked Tuesday after it posted a 59% increase in profits to almost $2.6 billion last year, thanks to strong copper prices and cost-cutting measures that helped offset a slight decline in production.Net profit for the year ended Dec. 31 climbed to $750.6 million from $158 million a year earlier, a more than four-fold increase, which allowed the co...Read More
http://www.cbc.ca/news/canada/north/Company says getting $505 million in financing was a make it or break it deal for the Yukon mineClosing a $505 million deal with investors was tough, but the president of Victoria Gold, John McConnell, says persistence paid off.Orion Mine Finance, Osisko Gold Royalties Ltd., and Caterpillar Financial came up with the bulk of the financing needed to move the Yuko...Read More