By: Ira EpsteinRead More

The Chinese domestic ferro-silicon price rebounded last week on short covering due to market worries about a fall in supply the week before, while the European price fell by ?,?10 ($11) per tonne after a recent tender for second-quarter delivery was settled below the spot market price. China market jumps more than 5%Supply worries grip the marketEurope price drops after Q2 settlementUS market drop...Read More

Fastmarkets will host a free web seminar on Monday April 8 at 9.30am London time to introduce the new Fastmarkets-settled London Metal Exchange cash-settled cobalt contract. Learn how Fastmarkets assesses the cobalt market and how you can manage your risk with the new LME cash-settled contract. Click here to register for the webinar. Date Monday April 8, 2019 Time 9.30am London time Join us and th...Read More

The Red Chris copper-gold mine in northwest British Columbia - now owned 70% by Newcrest Mining and 30% by Imperial Metals. Photo courtesy Imperial Metals Corp.Imperial Metals Corp. [III-TSX; IPMLF-OTC] shares rallied sharply Monday March 11 on news that the company has agreed to sell a 70% stake in its Red Chris copper and gold mine to Newcrest Mining Ltd. [NCM-ASX] for US$806.5 million in cash...Read More

Barrick Gold's Turquoise Ridge mine in Nevada. Source: Barrick Gold Corp.Barrick Gold Corp. [ABX-TSX, NYSE] has abandoned its hostile bid for Newmont Mining Corp. [NEM-NYSE] and will instead create a joint venture that will combine the two companies' Nevada gold mining operations.The deal, announced on Monday March 11, allows Newmont to complete a friendly merger with Goldcorp Inc. [G-TSX; GG-NYSE...Read More

The Turkish steel mills have continued to book deep-sea scrap this week, with prices remaining little changed, sources said on Monday March 11.A steel mill in the Izmir region booked a UK cargo on Monday, comprising 25,000 tonnes of HMS 1&2 (80:20) at $320 per tonne cfr.As a result of...Read More

H.E. Mithat Cans??z, Deputy Minister of Energy and Natural Resources of Republic of Turkey. Photo courtesy Government of Turkey.In an interview with Resource World magazine, H.E. Mithat Cans??z, Deputy Minister of Energy and Natural Resources of Republic of Turkey, provided insight as to how his government is taking steps to encourage mineral exploration and mining.RESOURCE WORLD: What metals and...Read More

Scrap prices in Turkey's domestic market have shown mixed dynamics over the past week, sources told Fastmarkets on Monday March 11.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,700-1,820 ($312-334) per tonne delivered on Monday, narrowing upward from the TRY1,650-1,820 per tonne of last week.The slight change in the assessment came after a numbe...Read More

* Economy contracts 3.0 pct in Q4; seen by many as recession * Slump follows last year's lira slide, rift with U.S. * Worst showing since 2009 for this major emerging market (Adds election context, graphic)By Daren Butler and Ezgi ErkoyunISTANBUL, March 11 (Reuters) - Turkey's economy contracted asharper than expected 3.0 percent in the fourth quarter of 2018,its worst performance in nearly a deca...Read More

The global copper supply chain could be underestimating the market impact of Chinese scrap cuts amid the country's growing consumption, established industry expert Jonathan Barnes told Fastmarkets. "China has been absorbing around 50% of the world's copper scrap," Barnes said. "The effect of the tightening legislation is big. People have been underestimating the impact of Chinese copper scrap cons...Read More

The Comex copper price saw a modest increase in morning trading on Monday March 11 with the market remaining mainly rangebound until further news on the US-China trade talks is revealed. The copper price for May settlement on the Comex division of the New York Mercantile Exchange gained 0.70 cents to $2.9005 per lb. "While the rally in copper prices since the start of the year is driven by stronge...Read More

Despite further poor economic data at the end of last week, the three-month base metals prices on the London Metal Exchange were for the most part higher this morning, Monday March 11.With the exception of tin that was down by 0.2%, the rest of the complex were up between 0.3% for copper and 1.3% for zinc. Copper was recently quoted at $6,414 per tonne, compared with $6,395.50 per tonne at Friday'...Read More

It's already being called "the Tesla of the Sea"...And this thing could to turn the entire boating and shipping industry on its head. We're talking a complete paradigm shift here.Austrian-based yacht builder Silent Yachts recently unveiled the world's first and only solar-powered electric yacht.Named the Silent 80, the vessel has 70 solar panels, electric motors, and uses the same type of lithium-...Read More

Fastmarkets will host a free web seminar on Monday April 8 at 9.30am London time to introduce the new Fastmarkets-settled London Metal Exchange cash-settled cobalt contract. Learn how Fastmarkets assesses the cobalt market and how you can manage your risk with the new LME cash-settled contract. Click here to register for the webinar. Date Monday April 8, 2019 Time 9.30am London time Join us and th...Read More

The London Metal Exchange launched a new cash-settled cobalt contract, settled against Fastmarkets' benchmark standard-grade cobalt price, on Monday March 11.Physical cobalt prices have seen dramatic swings in recent years, coinciding with mounting interest in the minor metal, arising from the boom in the use of battery and electric vehicles, and leading to stronger calls for a new way to hedge co...Read More

The export market for flat steel exports from the Commonwealth of Independent States (CIS) has softened on lower bids from the key outlets, sources told Fastmarkets on Monday March 11.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $500-525 per tonne fob Black Sea on March 11, decreasing from $520-530 per tonne fob a week before."Turkish buyers are facing p...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. After enjoying a strong multi-week advance, the Index finally pulled back last week, shedding 22.4 points or 1.9% to close at 1135.41. MACD dropped 3.9 points to hit -5.37. Our near-term momentum indicator, RSI, which ended the previous week at an elevated reading of 75.05, then plunged...Read More

China's hot-rolled coil prices weakened on Monday March 11, leaving traders with the expectation that mills would lower their export offers this week following last week's sparse trading activity.DomesticEastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,740-3,760 yuan per tonne, down 20-30 yuan per tonneSpot prices for HRC dropped...Read More

Import prices for steel slab in Southeast Asia and East Asia increased during the past week on higher offers and bids, although trading remained sluggish due to the persistent bid-offer mismatch.Fastmarkets' weekly import price assessment for slab imports to Southeast Asia and East Asia was at $475-495 per tonne cfr on Monday March 11, up $15 per tonne from a week earlier.One cargo from the Common...Read More

Bahraini rebar producer Unirol last week increased its rebar production capacity to 275,000 tonnes per year from 175,000 tpy with the launch of a new unit, a company executive told Fastmarkets on Monday March 11.The company uses direct-reduction iron (DRI) pellet as raw material, sourced locally, and is now offering material that is officially labeled 'Made in Bahrain', chairman and chief executiv...Read More