Chinese markets for chrome ore and alloy were stable week on week on Friday November 22 in the run up to announcements for December ferro-chrome tender prices. Ore and alloy prices flat in China ahead of new tender price announcement Alloy prices weaken in Japan, South Korea European price range narrows, with market participants reporting continued poor demand US spot market sta...Read More
Vancouver, BC - Select Sands Corp. (TSX-V:SNS | OTCQX: SLSDF) (the "Company") has entered into a negotiated arrangement, whereby it has terminated its option to purchase a 223-acre tract of land in Independence county, Arkansas. As part of the termination arrangement, the parties also agreed to release Select Sands America Corp. from its obligations under a promissory note originally securin...Read More
Kunming Rongke New Materials has won the entirety of the bismuth stock held by the collapsed Fanya Metal Exchange in an auction that ended on Saturday November 23, according to the official auction results posted on the Alibaba judicial online platform.Kunming Rongke won the 19,228.05 tonnes of bismuth with a bid of 606.07 million yuan ($86.09 million). The winning bid, which was also the starting...Read More
Key data from the pricing sessions in London and Shanghai in the week ended Friday November 22. Europe Key drivers Prices for both grades of silicon continued to gain support with producers still reluctant to make any concessions on their offer prices in a bid to extend the rally until the end of the year. Even though during the market was less active last week than in the previous two...Read More
Turkish steel producers made no deep-sea scrap purchases on the first working day of the week, but are still expected to buy more cargoes for December delivery, sources told Fastmarkets on Monday November 25.Mills booked four deep-sea cargoes last week at steady prices. The latest bookings were from the Baltic Sea region and sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20)."I thin...Read More
Another wave of optimism regarding United States-China trade talks has boosted broader markets and weakened havens, but the base metals have not taken much notice.Asian equities stronger led by a 1.3% rise in the Hang Seng.Base metalsThree-month base metals prices on the London Metal Exchange were mixed this morning, Monday November 25. Nickel was the main mover with a 0.7% fall to $14,540 per ton...Read More
The leader of the Chilean mining association Consejo Minero has claimed that he has seen no evidence that the unrest that has wracked Chile since October may reduce investment into the country's important mining sector, which accounts for around of a third of global lithium supplies. The organization's executive president Joaqu?-n Villarino told influential Chilean radio show, PAUTA y Bloomberg, a...Read More
The two most important days in your life are the day you are born and the day you find out why.- Mark TwainThe sixth of seven children, he was born into poverty and baptized by the muddy brown waters of the Mississippi River in Missouri.Dropping out of school in the fifth grade, he worked as a typesetter, then as a river boat pilot, then a gold miner, journalist, lecturer, inventor, and publisher,...Read More
Foran Mining Corporation (TSX.V: FOM) is a copper-zinc exploration and development company with flagship McIlvenna Bay project, located within the Hanson Lake District, 65 kilometres from Flin Flon, Manitoba. It is part of the world class Flin Flon Greenstone belt and the largest undeveloped VMS deposit in the region. We learned from Patrick Soares, President and CEO of Foran Mining, that they hav...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index barreled into last week on a 3-week, 5.2% winning streak after achieving a new 52-week high. Last week, the Index went on carve out a fresh closing high at 1160.23 before pulling back to end the week at 1156.24, down 2.47 points.RSI retreated 6.72 points or 9.1% to 73.28 though...Read More
Northern European mills have been offering and trading hot-rolled coil at lower prices in a bid to attract more orders, despite an anticipated price increase, sources told Fastmarkets on Monday November 25.Northern EuropeAlthough Northern European mills have been speculating about a rise in HRC offers of about ?,?30 per tonne, targeting ?,?450 ($496) per tonne ex-works, they have been offering and...Read More
Export prices for hot-rolled and cold-rolled coil, and heavy plate from the Commonwealth of Independent States have continued to increase over the past week, in line with increasing raw material prices, sources told Fastmarkets.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $395-405 per tonne on Monday November 25, compared with $390-405 per tonne fob a week ago.Russi...Read More
Hot-rolled coil prices in Asia continued to gain last week, but some buyers in Vietnam have started to delay making further purchases amid expectations that the market could start to pull back.Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $450-460 per tonne cfr Vietnam&...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 25 that are worth another look.Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands.Seaborne manganese ore prices for both grades rose by more than 1% in the week ended Friday November 22 after sentiment improved in response to r...Read More
Brazilian rebar suppliers ArcelorMittal and Gerdau have announced a price hike of up to 12% for January orders, Fastmarkets understands. Steelmakers have been trying to increase the price of rebar in the country since September, with Gerdau pushing for a 7% rise in that month. But the market only started to recover in October and the hike was lower than suppliers expected. Fastmarkets' most recent...Read More
Steel producers in the Middle East asked for more protectionism against cheap imports in 2019 and this trend is expected to continue in 2020.GCCThe Gulf Co-operation Council (GCC) countries started a safeguard investigation on several steel products in October this year. The investigation covers the period from January 2014 to June 2019 and focuses on hot-rolled flat products, rebar, wire rod, sec...Read More
StrengthsThe best performing precious metal this week was palladium, up 3.85 percent. Shipments of palladium from Switzerland to Hong Kong rose to a five-year high in October. In the weekly Bloomberg survey of gold traders and analysts, most respondents were surprisingly bullish on the yellow metal for next week, expecting further tension between the U.S. and China over Hong Kong. President of...Read More
Turkish steel producers made no deep-sea scrap purchases on the first working day of the week, but are still expected to buy more cargoes for December delivery, sources told Fastmarkets on Monday November 25.Mills booked four deep-sea cargoes last week at steady prices. The latest bookings were from the Baltic Sea region and sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20)."I thin...Read More
Seaborne iron ore prices rose further on Monday November 25, with the 62% Fe index getting back above $90 per tonne cfr for the first time in over a month.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.92 per tonne, up $2.84 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.95 per tonne, up $2.84 per tonne.62% Fe low-alumina fines, cfr Qingdao: $90.31 per tonne, up $2.84...Read More
Steve's 2016 prediction that the Fed would eventually be forced to return to QE and why current events prove it trueCosts and benefits of QE in the real worldPrivate debt and the inflated corporate bond market as a result of QE translates to higher risk for the next financial crisisSteve Keen is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticis...Read More