Turkish miners are seeing their profit margins fluctuate daily, as the Turkish lira swings wildly against the dollar. After a long period of stability since the country's financial crisis a year ago, volatility has returned to the Turkish lira over the last week, as it gains or loses up to 5% by the day. On March 22 the lira fell from 5.47 to the dollar, to a low of 5.83 to the dollar. The currenc...Read More
The price of shredded ferrous scrap into India inched down this week following deals done at lower levels, sources said on Friday March 29.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $334.38 per tonne cfr on March 29, down from $335.75 per tonne cfr on March 22. This week deals were heard for shredded done at $333, $335 and $337 per tonne cfr. The lowes...Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange. Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases...Read More
Prices for light iron steel scrap in the United Kingdom were rolled over for a second week on Friday March 29 amid steady trading, with relatively tight availability in some areas and regular business going overseas, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-110 ($118-144) per tonne on March 29. This price range...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures responded to U.S. government comments that trade negotiations with China are "going well". The Shanghai Composite Index jumped 3.2%.Index futures were virtually unchanged following release of February Personal Income at 8:30 AM EDT. Consensus for February Personal Income wa...Read More
Seaborne coking coal prices ended the week lower in line with market participants' expectations.A cargo of premium low-vol hard coking coal was traded at around $202 per tonne cfr China, while an offer for a shipment of premium mid-vol materials was made at $205 per tonne fob Australia, sources told Fastmarkets on Friday March 29.A cargo of second-tier hard coking coal was heard offered at around...Read More
The London Metal Exchange has announced new warehouse reform proposals - the friendliest to warehousers in seven years - that aim to make LME warehousing attractive again and encourage more metal onto the exchange.In a discussion paper sent to members on Friday March 29, the exchange proposed relaxing queue-based rent capping (QBRC) to 80 days, lower rent and Free On Truck (FOT) fees, as well as m...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Friday March 29, bolstered by positive sentiment emerging out of recent US-China trade talks and gains in copper futures amid strong volumes.Price action in the red metal returned to levels above $6,400 per tonne over the morning, with more than 4,700 lots changing hands by 9:20am London time. ...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday March 29:Antimony MB free market regulus, $/tonne: $7,200-7,500 per tonne from $7,300-7,600Antimony MMTA standard grade II, $/tonne: $7,050-7,450 per tonne from $7,250-7,550Chromium MB free market alumino-thermic, $/tonne: $8,500-9,000 per tonne...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange.Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases this...Read More
I have always been a collector of things.When I was younger, I focused on coins ... comic books ... action figures ... baseball cards ... and all the other typical stuff 10-year-old boys like.Since then, I've gotten into guitars, surfboards, vintage skateboards, wine, and even rare sneakers.I've made money on just about every one of those things over the years while having fun along the way.And wh...Read More
Yesterday we sketched a brief scene of possible recession by next year - in time for the 2020 presidential election.Today we complete our portrait... tack it to the wall... and lean in for a deeper look.The president will certainly pin his reelection prospects upon a pulsating economy and an electric stock market.That is, No.1 recognizes his path to victory runs through America's wallets.Hence his...Read More
Kirkland Lake, Ontario - February 5, 2019 - RJK Explorations Ltd. (“RJK” or the “Company”) (TSXV: RJX.A) announces that the Company has entered into a property option agreement with Anthony "Tony" Bishop for the Bishop Nipissing Diamond Properties, exploration properties totalling 2,090 hectares encompassing at least 18 potential kimberlite pipes located approximately 10...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday Marcy 29:Aluminium ingotDuty paid delivered works...Read More
The sale of a 0.5% net smelter return royalty on its Pandora property to Agnico Eagle Mines (TSX: AEM; NYSE: AEM) monetizes a non-core asset and reduces the junior's cost of acquiring its McKenzie Break and Swanson properties by $800,000,Monarch Gold Corp. (TSX: MQR; US-OTC: MRQRF) reports.The Pandora royalty was part of the assets that Monarch acquired from Richmont Mines in October 2017, along...Read More
Ferrous scrap prices in Asia have started to decline on weakening markets for billet and long steel products downstream, sources told Fastmarkets MB this week.The decreases came despite buyers in Vietnam, Taiwan and South Korea placing bookings cargoes to replenish their inventories. Steelmakers in Vietnam and South Korea in particular booked large volumes.Scrap prices are expected to slide furthe...Read More
Just a few months after finishing a nine-hole, 1,600-metre drill program at its Gumsberg zinc-silver-lead project in Sweden, Boreal Metals (TSXV: BMX) has begun drilling the project again.The campaign, which began in mid-March, will see Boreal drill an additional 1,500 metres at the volcanogenic massive sulphide project (VMS) to test a variety of shallow targets. Though the company has eight base...Read More
Alexco Resource has tabled a prefeasibility study (PFS) for its wholly owned Keno Hills silver project, in Yukon, that assigns the project a $101.3-million after-tax net present value at a 5% discount-rate, and a 74% after-tax internal rate of return (IRR).It assumes a life-of-mine US$17.90 per oz. silver price.Alexco expects the underground operation would process 154,000 tonnes per year over an...Read More