Limited availability pushed iron ore prices up on Wednesday October 24 amid a bullish futures market.MB 62% Fe Iron Ore Index: $74.73 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.76 per tonne cfr Qingdao, up by $0.42 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $80 per tonne cfr Qingdao, up by $1.30 per tonne.MB 58% Fe Premium Index: $67.77 per tonne cfr...Read More
Trading activity in the seaborne coking coal market was muted on Wednesday October 24, with buyers biding their time to gauge the direction of prices.A cargo of premium hard coking coal was offered at around $216 per tonne fob Australia, sources said during the day. There was no word of a transaction being concluded by the cut-off time for Fastmarkets' data collection for its indices.A buyer sourc...Read More
South Korea continued to purchase heavy melting scrap this week on stable demand from a major steel mill.A 20,000-tonne cargo of HMS 1&2 (80:20) quality from New Zealand was transacted at $354 per tonne cfr South Korea this week, market sources said.Demand from South Korea has been regular in recent weeks, with South Korean steel mills entering the spot market again after bellwether Turkish import...Read More
Taiwan's ferrous scrap imports dropped by 14% on the year in August, according to the territory's customs agency.The island imported 245,579 tonnes of ferrous scrap during the month, 38,931 tonnes lower than the 284,510 tonnes it took in a year...Read More
China's ferrous futures advanced across the board during morning trading on Wednesday October 24 amid relatively positive sentiment in the physical market.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,187 yuan ($603) per tonne, up 40 yuan per tonneJanuary hot rolled coil: 3,909 yuan per tonne, up 25 yuan per tonneDalian Commodity Exchange January iron ore: 528...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 24.Base metals prices on the London Metal Exchange were predominantly higher during morning trading, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals price...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 24 *Copper -$127.83 (-889.00 yuan) Aluminium -$430.54 (-2,994.08 yuan) Zinc -$117.26 (-815.44 yuan) Nickel $395.84 (2,752.80 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Wednesday October 24, buoyed by a bounce in Asian stock indices while a two-month high in the US dollar index did little to offset fresh buying momentum.Despite high risk-aversion prompting a downtrend in base metals prices earlier in the week, investor confidence was lifted on Wednesday morning wit...Read More
Antofagasta's copper production jumped by 15.4% in the July-September quarter, the company said on Wednesday October 24. The Chilean miner's copper production was 188,300 tonnes during July-September quarter, up by 15.4% from the April-June quarter. Copper output in the first nine months totaled 505,500 tonnes, down 4% from the corresponding period in 2017, mainly due to lower...Read More
The underlying theme remains unchanged with the base metals prices continuing to oscillate within sideways trends, although some prices, such as tin and zinc, are starting to edge higher. Sentiment in China has improved after Chinese officials have taken steps to ease credit tightness in the private sector by helping companies raise money in the capital markets.After a down day on Tuesday October...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 24:Aluminium scrapGroup 1 pure 99% & litho: ?1,390-1,440 per tonne from ?1,400-1,450Commercial pure cuttings: ?1,100-1,150 per tonne from ?1,100-1,160Loose old rolled cuttings: ?790-820 per...Read More
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Subscribe to our channel! rupt.ly/subscribeSupporters gather outside a London court as English Defence League (EDL) founder Tommy Robinson faces a re-trial on Tuesday, October 23.Robinson was arrested in May 2017 and sentenced to 10 months for contempt of court and three more months for breaching a previous suspended sentence. He was freed on bail after winning an appeal against the contempt of co...Read More
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While investing in gold stocks has pretty much been a losing proposition in the last five years and more, things are changing.The market is clearly more skittish, with major market indexes seeing big selling pressure.As I know you are well aware of, on October 9, the S&P/TSX Composite began a sell-off that spooked investors, leaving us wondering if this is the sell-off we have been waiting fo...Read More
#4 Zone Manto: flat-lying sulphide mantos in carbonates. Source: Sun Metals Corp.Sun Metals Corp. [SUNM-TSXV] shares rallied Thursday after the company released impressive drill results from its Stardust project in northcentral British Columbia.The company announced that drilling into a new extension of the Canyon Creek Skarn zone at the Stardust project has returned the thickest and richest miner...Read More
B2Gold's Fekola gold mine in Mali, West Africa. Source: B2Gold Corp.B2Gold Corp. [BTO-TSX, BTG-NYSE] on Thursday announced a better-than-expected resource estimate for its Fekola mine in Mali, West Africa. The Vancouver company also released positive results from a mill expansion study at the Fekola mine.The increased mineral resource and the positive results, to date, from the Fekola mill expan...Read More
VANCOUVER - Teck Resources Ltd. reported a profit of $1.3 billion in its third quarter, boosted by the sale of the Waneta Dam.The miner says the profit amounted to $2.23 per share for the three months ended Sept. 30, compared with $584 million or $1.01 per share a year ago.Revenue totalled $3.2 billion, up from $3.1 billion.On an adjusted basis, Teck says it earned 81 cents per share for the quart...Read More
TORONTO - Barrick Gold Corp. says it's in talks with partners in China and Saudi Arabia on potential deals involving its copper assets as it looks ahead to its acquisition of Randgold Resources and an increased focus on African gold mines.Company chairman John Thornton said on a conference call that its copper assets are of high interest to the partners who may want to build serious copper compa...Read More