Adjusted earnings at Brazil-based Votorantim's long steel division, which includes assets in Argentina and Colombia, dropped by 11% in 2017 compared with the previous year.Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) reached 272 million Reais ($81.37 million) last year, down from 304 million Reais in 2016, parent company Votorantim SA said on Wednesday April 4.R...Read More

Turkish domestic rebar prices have continued to fall over the past week, amid declining imported scrap values, sources said on Thursday April 5.Metal Bulletin's weekly price assessment for domestic rebar on Thursday was $570-590 per tonne ex-works, down from the $585-605 per tonne of last week.The domestic rebar price in the Izmir region was $575-580...Read More

Import prices for steel billet in Egypt fell this week on declining demand, sources told Metal Bulletin on Thursday April 5.CIS-origin billet was on offer in Egypt at $540-545 per tonne cfr, down from last week's $550-555 per tonne cfr. No new price was heard from Iran. Metal Bulletin's weekly...Read More

Turkish long steel export prices have continued to weaken in line with sluggish demand and falling imported scrap values, sources said on Thursday April 5.Turkish steel mills reduced their offers to $570-580 per tonne fob actual weight, while customers' bids were $560 per tonne and lower.There has been no significant export activity heard in the market over the past week,...Read More

Did you catch Metal Bulletin's recent web seminar on key factors driving the battery raw materials markets? If you missed it, follow the link below to listen to the free recording: What's driving the battery raw materials market? During the web seminar, members of Metal Bulletin's global battery raw materials team discussed: EV subsidies and government policy in China and beyond Changes...Read More

Teck Resources Ltd has increased its stake in Compa???-a Minera Teck Quebrada Blanca SA (QBSA) through the purchase of private Chilean firm Inversiones Mineras SA (IMSA), the Canada-headquartered company said. The acquisition of the 13.5% stake brings Teck's interest in QBSA to 90%. IMSA held 8.5% of the ordinary shares of QBSA and a 5% preferred share interest. Enami, a Chilean state agency, hold...Read More

Metal Bulletin proposes to refine the name of its Latin American pig iron prices to reflect market conditions. Metal Bulletin invites market participants to take part in a market consultation on the plan to rename two pig iron prices as follows: From: Latin America exports pig iron $ per tonne fob Ponta da Madeira Brazil To: Brazil exports pig iron $ per tonne fob Ponta da Madeira From: Latin Amer...Read More

Rail and port services in Queensland have resumed with Cyclone Iris no longer posing a threat to the Australian state's supply of coking coal to the seaborne market.The unloading of coal trains has recommenced at the Hay Point Coal Terminal, rail freight operator Aurizon said on Thursday April 5. "Aurizon Network is working with its rail customers in regard to recommencing the unloading of coal tr...Read More

The Supreme Court of India has given the nod to the transport of royalty-paid iron ore from the Indian state of Goa. "We are of the view that the iron ore which is royalty paid and which is lying on the jetties on or before March 15, 2018 should be permitted to be loaded on the barges and on the vessels so that they can be transported to their destinations," the court ruled on Wednesday April 4. T...Read More

Zinc prices on the London Metal Exchange came under further pressure during morning trading on Thursday April 5, with on-warrant stocks rising 16%. The three-month zinc price was the only metal trading in negative territory following a 23,425 tonne re-warranting in New Orleans - which takes total available stock to 166,650 tonnes. The rest of the complex made a slight recovery with potential talks...Read More

Base metals prices on the London Metal Exchange are mixed this morning, Thursday April 5. The main movers are nickel, with prices up by 0.6% at $13,230 per tonne, and zinc where prices are down by 0.5% at $3,237 per tonne. Copper prices are up by 0.1% at $6,721 per tonne.Volume has been light with 2,187 lots traded as of 06.46 am London time, this because China is off for the rest of the week to m...Read More

Base metals prices on the London Metal Exchange were all higher during Asian morning trading on Thursday April 5 amid hopes that talks between the United States and China could avert a global trade war.The LME three-month copper price was at $6,747 per tonne as of 03.29am London time, up by $23 per tonne from Wednesday's closing price. A total of 226 lots of the contract have traded so far. The co...Read More

Brazilian tube, bar and stainless steel distributor Grupo A??otubo hopes to increase its revenues by 20% in 2018, benefiting from a rebound in the local industrial sector.The company's gross revenues are expected to reach 900 million Reais ($269 million) this year, compared with 760 million Reais in 2017, financial director Wilson Bassi told Metal Bulletin on Thursday April...Read More

Import prices for stainless steel in East Asia continued to soften over the past week due to thin buying interest and sellers trying to destock, even as market participants in Taiwan took a breather due to a string of public holidays on the island.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,080-2,130 per tonne cif East Asian ports for the w...Read More

As bitcoin and its thousand or so cousins evolve from novelty to threat, the existing monetary system is reacting pretty much as evil empires tend to, with coercion and co-optation. This week it's India: India cracks down on bitcoin and hints it may launch its own digital currencyThe Reserve Bank of India (RBI) has initiated a crackdown on cryptocurrencies such as bitcoin, even as it considers a p...Read More

Something strange has been happening in precious metals lately. Gold has been doing a lot better than silver, even as the paper market internals have increasingly predicted the opposite. The result is a gold/silver ratio that’s near the top of its historic range:In the paper markets (where futures contracts are traded) the imbalance is even more glaring, with gold speculators extremely bulli...Read More

Technical analyst Clive Maund looks at a gold royalty company that he believes will take off when the gold bull market gets underway.Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK) has three big and important things going for it. It is cheap, under accumulation and gold will soon enter a bull market. Because it is a royalty company it should perform royally when the imminent gold bull market gets unde...Read More

Chart NotAvailableSymbol DataSymbolCurrencyASX:MGVAUDDescriptionMusgrave Minerals are a junior, project generator looking for goldLogin or Subscribe to access Don's SummaryAlert me when stock is updatedQuick LinksLogin to accessGeneral DetailsFinancial04/05/2018LastAnalysisDataCurrent DataChangeItemValueValueUpdatedValueMkt. Cap (FD):$13.54M$14.42M04/05/2018$0.88MTotal Assets:$9.60M$9.59M04/05/201...Read More

As bitcoin and its thousand or so cousins evolve from novelty to threat, the existing monetary system is reacting pretty much as evil empires tend to, with coercion and co-optation. This week it's India: India cracks down on bitcoin and hints it may launch its own digital currencyThe Reserve Bank of India (RBI) has initiated a crackdown on cryptocurrencies such as bitcoin, even as it considers a p...Read More

Something strange has been happening in precious metals lately. Gold has been doing a lot better than silver, even as the paper market internals have increasingly predicted the opposite. The result is a gold/silver ratio that’s near the top of its historic range:In the paper markets (where futures contracts are traded) the imbalance is even more glaring, with gold speculators extremely bulli...Read More