U.S. equity index futures were mixed this morning. S&P 500 futures were up 2 points in pre-opening trade.Novavax gained $22.32 to $232.00 after announcing successful results from its Stage 3 COVID 19 tests.Chipotle added $19.20 to $1,386.00 after Raymond James upgraded the stock from Outperform to Strong Buy.Biogen gained $0.23 to $396.87 after Truist raised its target price from $458 to $647....Read More
Turkish steel mills had a quiet start to the week on Monday June 14, with no new cargo bookings heard due to uncertainty in the finished steel markets, market participants said.On Friday, another cargo was heard booked following the closure of the indices, according to sources.A steel mill in the Iskenderun region booked a Canadian cargo comprising 17,500 tonnes of heavy melting scrap 1&2 (95:5) a...Read More
There was little liquidity in the iron ore market on Monday June 14 due to Chinese market participants being away for the Dragonboat Festival. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $220.77 per tonne, up $1.51 per tonne 62% Fe low-alumina fines, cfr Qingdao: $221.62 per tonne, up $0.37 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $195.22 per tonne, up $2.44 per tonne 65...Read More
Seaborne coking coal prices in the fob market rose on Monday June 14 amid firm buying interest for July-laycan cargoes from Australia and limited supply in the physical spot market, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $171.76 per tonne, up by $2.54 per tonnePremium hard coking coal, cfr Jingtang: $283.29 per tonne, unchangedHard coking coal, fob DBCT: $153.43...Read More
Seaborne iron ore concentrate, and pellet prices continued to rise in the week ended Friday June 11 on gains in the futures market.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $62.80 per tonne, up $2 per tonne66% Fe concentrate, cfr Qingdao: $237.13 per tonne, up $5.12 per tonne65% Fe blast furnace pellet, cfr Qingdao: $297.69 per tonne, up $6.70 per tonne Key driversTh...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The European ferro-silicon market moved up by almost 5% over the week to Friday June 11, with new deals reported by both traders and producers amid tight domestic supplies, limited replacement options from overseas and steady demand, according to trade sources.There has been reduced domestic production in Europe since Ferroglobeidled its production in late 2019, with only a small amount of output...Read More
Teck Resources (TSX: TECK.A/TECK-B; NYSE: TECK) is preparing to double its copper output by 2023 to take advantage of accelerated metal demand from global economic growth and the transition to a lower-carbon economy, president and CEO Don Lindsay tells The Northern Miner.The mining executive says Teck is well-positioned to benefit from the anticipated growth in global copper demand of 2.3 times by...Read More
Adventus Mining (TSXV: ADZN; US-OTC: ADVZF) is well-positioned to capitalise on the growing market interest in a vibrant and growing mining sector in Ecuador, president and CEO Christian Kargl-Simard says.The renewed interest in the jurisdiction comes at a time when other more traditional South American copper jurisdictions deal with question marks over their status as top-tier resource investment...Read More
Proudfoot Global CEO Pamela Hackett talks 'wrestling chaosSPONSOREDproudfootAntipa set to soar amid Winu and Havieron potentialSPONSOREDantipa mineralsAzure's Andover nickel shapes as a Pilbara NovaSPONSOREDazure mineralsMcDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesPolitical leaders from seven of the world's richest countries promised to spend more on c...Read More
With long steel prices in Europe reaching historically high levels, construction activity is slowing in some regions due to reduced supplies and delays, with some market sources fearing a decline in industrial activity long term.Surging pricesLong steel prices in the European Union started increasing in the third quarter of 2020 on a pick-up in consumption and a recovery from the impact of the Cov...Read More
The price of ferro-titanium scrap in the United States has fallen for the first time since August 2020 following a push-back by ferro-titanium manufacturers who are facing weaker US prices for their products, some market sources said.Just over a month ago, scrap prices were reportedly rising by 5-10% week on week amid an extreme shortage related to a decline in aircraft building during the Covid-1...Read More
June 11 marked the milestone first production of ore from the underground expansion project at the Voisey's Bay nickel-cobalt mine owned by Vale (NYSE: VALE). The mine is located on the north coast of Labrador, about 35 km south of Nain, Nfld.Underground production is expected to extend the life of the mine until at least 2032. Two separate deposits - Reid Brook and Eastern Deeps - have been devel...Read More
China's Ganfeng Lithium, one of the world's top producers of the commodity used in electric vehicle batteries, is acquiring a 50% stake in a special purpose vehicle that owns the Goulamina hard-rock mine in Mali for US$130 million.Ganfeng, which counts automakers Tesla and BMW among its customers, said the move will grant it at least half of Goulamina's first-phase annual output, estimated at 455...Read More
Meeting follows a round of bullish lithium reports from banks including JP MorganRead full newsRead More
Randgold replacement finally lands in LondonRead full newsRead More
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Kyrgyzstan will challenge the U.S. bankruptcy filings of Centerra Gold Inc.'s Kumtor gold operations, a lawyer for the Central Asian republic said after it took control of the mining project from the company.Read full newsRead More
The deal will make it difficult for backers of a massive open-pit gold and copper mine to carry out their project because the new protections cover a portion of a critical route the Pebble Limited Partnership plans to use to transport ore from the mine.Read full newsRead More