The company had set out to raise $80 million at $7.28 per share in a bank-led bought deal raising. Yesterday it said the $12 million over-allotment option was exercised in full.Read More
The Chinese ferro-silicon market has been steady over the past week amid firm quotations from producers.Fastmarkets' price assessment for ferro-silicon 75% Si min, in-whs China was 5,900-6,000 yuan ($843-857) per tonne on Wednesday December 18, unchanged for the second straight week. Market participants told Fastmarkets some ferro-silicon production in northwestern China is likely t...Read More
Development of what has been labelled by Canada's federal government "a generational opportunity" has been slow over the past decade, frustrated by the size of the region and lack of infrastructure inRead More
Thirty-three-year-old Micromine, owned by Sydney-based technology-focused private equity firm Potentia Capital and the founding Tuder family, also has offices in Brazil and Peru.Micromine regional manager Guido Perez said large and junior companies were developing new precious and base metals projects across Mexico. A solid pipeline of projects, competitive operating costs and rising metal prices...Read More
The company raised C$1.3 million (US$1 million) last month at 13c per unit for drilling at the Loma Cuaba lithocap zone of Pueblo Grande, which it describes as adjacent to the world-class, Barrick Gold-run Pueblo Viejo gold-silver mine. It said it had engaged O'Brien to provide a project geology review and assist with the selection of drill collar locations and orientations."Access to this l...Read More
Most copper scrap discounts in the United States increased as the Comex copper price continued to strengthen week on week. Fastmarkets assessed the copper scrap No1 copper (also known as brass mills' bare bright), discount, buying price, delivered to brass mill US, at 12-14 cents per lb on Wednesday December 18, increasing from 11-13 cents per lb the week before.Also registering 1-cent gains were...Read More
By: Ira EpsteinGold's latest technicals, resistance areas where bulls need to take out to get more interest going:Read More
Gold and silver are unchanged after majority of lawmakers in the U.S. House of Representatives voted to impeach Trump. In my view, gold and silver will remain firm due to Trump and his impeachment related news. Only some yearend profit taking in gold can result in a sell off. Exceptional year end US economic data release can also result in a selloff in gold. One needs to be ready to trade and ma...Read More
Turkish steel mills have continued to stay away from the deep-sea scrap markets on Thursday December 19 and are focusing on finished steel sales, participants told Fastmarkets.Mills in the country went quiet earlier this week after booking two deep-sea cargoes at steady prices of $299-300 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20).The offers for deep-sea scrap then increased to $305-310 p...Read More
What's in store for the steel and scrap markets in 2020? There is a good mix of opportunities and threats in the global ferrous trading environment in 2020, according to five major traders with supply chains out to the far reaches of the world. China's volatile policy changes, blooming markets in South Asia, a global trade war and excess steel supply will continue to have significant sway over the...Read More
The game is rigged.We know this.But here's a little reminder...On Monday, the S&P 500 and Nasdaq each hit fresh record highs after optimism over trade deals helped push some assets higher.These new "record highs," which are no longer uncommon, seem to come and go based on the chess matches and pissing contests between kings and dictators, who, while drunk on power, make decisions that move markets...Read More
One of the most famous home runs in World Series history happened on October 1, 1932, during Game 3. The New York Yankees were battling the Chicago Cubs. The Yanks were up 2-0, and the series moved to Game 3 at Wrigley Field.Charlie Root was the Cubs pitcher. He gave up a three-run homer to Babe Ruth in the first inning and a solo shot to Lou Gehrig in the third. The Cubbies would score a run in...Read More
In 1909, Mark Twain said, "I came in with Halley's comet in 1835. It is coming again next year, and I expect to go out with it. It will be the greatest disappointment of my life if I don't. The Almighty said, no doubt: 'Now here are these two unaccountable freaks; they came in together, they must go out together.'" Twain died on April 21, 1910, the day after the comet returned.Of course, Twain los...Read More
Steel demand in North Africa is projected to grow by around 3% in the coming year to 23.5 million tonnes, delegates were told at Fastmarkets' Middle East Iron & Steel Conference in Dubai on December 9-11.Ramy Saleh, the chief business development officer at Egypt's El Marakby Steel cited gross domestic product and population growth as the main drivers of steel demand in the region, which, accordin...Read More
The European steel industry has welcomed the European Commission's recently launched European Green Deal although further policy and support are required to ensure competitiveness.The European Union plans to be the first climate-neutral continent by 2050 through key policies to cut emissions and invest in research and innovation for green technologies. The decarbonization and modernization of ener...Read More
Some overseas buyers have raised their bid prices for hot-rolled coil from China amid tighter global supply, although domestic Chinese prices were stable on Thursday December 19.DomesticEastern China (Shanghai): 3,870-3,880 yuan ($552-554) per tonne, unchangedNorthern China (Tangshan): 3,640 yuan per tonne, unchangedTrading nationwide was moderate on Thursday, which kept prices stable.A...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 19 that are worth another look.What's in store for the steel and scrap markets in 2020?Most copper scrap discounts in the United States increased as the Comex copper price continued to strengthen week on week.Spot market prices for alloy-grade and standard-grade cobalt diverged in the first half of the week.Two weeks o...Read More
Brazilian apparent steel consumption dropped by 2.1% year on year in November, as an increase in long-steel demand was not enough to offset a quick decline reported for flat-rolled products, national steelmakers' association Instituto A??o Brasil said on Thursday December 19.Steel consumption totaled 1.72 million tonnes during November, down from 1.76 million tonnes a year before.Flat-steel use wa...Read More
Prices for steel reinforcing bar in the United States ticked up following increase announcements from several domestic mills, and sources expect that uptrend will continue next year if ferrous scrap values move up as anticipated in the January 2020 trade.Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $29.50-30.50 per hundredweight ($590-610 per short ton) on...Read More
Turkish steel mills have continued to stay away from the deep-sea scrap markets on Thursday December 19 and are focusing on finished steel sales, participants told Fastmarkets.Mills in the country went quiet earlier this week after booking two deep-sea cargoes at steady prices of $299-300 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20).The offers for deep-sea scrap then increased to $305-310 p...Read More