A summary of Canadian base metals miner Hudbay Minerals' results for the fourth quarter and full year of 2020. Summary: The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for 2020 decreased by 14.4% to $306.7 million from 2019's full year figure of $358.5 million. This was despite adjusted Ebitda in the fourth quarter growing by 30% year on y...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.There are potential headwinds - namely the rising US treasury yields and talk that US taxes may have to rise to help pay for the pandemic response a...Read More
New structures to lithium contracts will provide more flexibility to raise prices in response to improving market conditions, United States-based lithium producer Albemarle said during an earnings call on Thursday February 18.The call followed the release of the company's full-year and fourth-quarter financial results for 2020.Eric Norris, the company's president of lithium operations, said that n...Read More
China's domestic lithium carbonate price increased by 4.4% over the week to Thursday February 18 supported by tight supply in the spot market, while the Asian seaborne lithium hydroxide market moved up for the first time in five months influenced by China's price upturn.China's domestic battery-grade lithium carbonate market continued its uptrend supported by spot material shortage, although buyin...Read More
Six people are dead after icy road conditions caused a 133-car pileup along Interstate 35W, just north of downtown Fort Worth, Texas, on February 11.Thirty-six others were rushed to hospitals with various injuries. Source: NBC5/ReutersThe carnage spanned over half a mile. Many folks were trapped in their vehicles and needed hydraulic rescue equipment to save them. Stranded motorists tried to make...Read More
IsoEnergy Ltd. (TSXV: ISO; OTCQX: ISENF) is a well-funded uranium exploration and development company, founded and supported by the team of its major shareholder, NexGen Energy Ltd. IsoEnergy recently discovered the high-grade Hurricane Zone of uranium mineralization, on its 100% owned Larocque East property, in the Eastern Athabasca Basin in Saskatchewan, Canada. We learned from Keith Bodnarchuk,...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) said it was able to partially resume operations on Friday February 19 after being forced to stop output at its steel unit and its coal and iron ore mines due to a shortage of fuel and energy. Ahmsa secured most of the energy supply needed by its mining and steel units and was able to re-establish gas supply at 50% of the normal p...Read More
Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) is an exploration-stage company focused on the La Loutre Project in Quebec, where they are developing graphite to supply a future market for Electric Vehicles and to help facilitate the transition to the new green economy. We learned from Paul Gill, who is CEO of Lomiko Metals, that in 2019 they had a discovery, and recently announced an upcom...Read More
Hot-dipped galvanized (HDG) coil producers in Turkey increased their prices during the week to Friday February 19 on strong demand, sources told Fastmarkets.The main reason for the increasing prices was that high level of demand, but there were also rising prices for hot-rolled coil base material.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey, was $750-770 per...Read More
The domestic steel rebar market in Poland has been "frozen" over the past week due to a slowdown in end-user demand amid bad weather conditions, but with a rebound expected in March, sources told Fastmarkets on Friday February 19.Construction activity in Poland has been very slow over the past fortnight due to the weather, and this has had the expected negative effect on rebar demand, sources said...Read More
China's domestic rebar prices rose further on Friday February 19 albeit at a slower pace amid low trading activity. DomesticEastern China (Shanghai): 4,470-4,500 yuan ($692-696) per tonne, up by 20 per tonne Northern China (Beijing) - weekly assessment: 4,330-4,370 yuan per tonne, up by 210-220 per tonne from February 5 More sellers returned to work during the day, but end users are still on holid...Read More
Ferrous scrap prices in the key global markets have gone up in the week to Friday February 19 with stronger steel demand following the return of market participants from China's Lunar New Year holiday.Turkish steel mills resumed their deep-sea scrap purchases at higher pricesUS ferrous scrap exporters seek higher pricesPost-holiday rebound in steel trade drives up scrap import prices in VietnamUpt...Read More
The cost of austenitic alloy steel scrap in the UK and Europe increased again over the past week on higher nickel costs, sources told Fastmarkets on Friday February 19.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,150-1,200 ($1,601-1,670) per tonne on Friday, an increase of ?20 per tonne week on...Read More
The pig iron import market in the United States improved during the week to Friday February 19 on a bullish attitude among suppliers.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $510-520 per tonne on Friday, widening upward from $510 per tonne a week earlier.One large pig iron buyer purchased a cargo for April shipment from...Read More
Prices for secondary steel billet in India surged by 3,600 rupees ($49) per tonne in the week to Friday February 19 on increased demand across the country and the likely continuation of power shortages in central India's major hubs for secondary steelmaking.Fastmarkets' price assessment for steel billet, domestic, ex-works India, was up on Friday to 37,400-37,600 rupees ($514-517) per tonne compar...Read More
Export offers for billet from the Commonwealth of Independent States picked up again by the end of the week amid positive sentiment in the market. Import scrap prices in Turkey have continued to grow, and - along with an expected rise in semi-finished and long steel prices in China after the Lunar New Year holidays - was the main factor for the optimistic mood of CIS suppliers. Fastmarkets' daily...Read More
Chinese consumers have re-entered the market for imported cargoes of steel billet over the week ended Friday February 19, following the country's Lunar New Year holiday, closing deals at higher prices.Sales to China of Indonesia-origin blast furnace (BF) 150mm billet started the week at $565 per tonne cfr, with prices rising progressively each day.Transactions for 3sp Indonesian billet started at...Read More
Jim Willie is a statistical analyst in marketing research and retail forecasting. He holds a PhD in Statistics, and his career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of economic credentials. Jim operates a free website called Golden Jackass.Read More
Marc Cohodes of Alder Lane Farm has made a living putting bad people behind bars. In this interview with our Daniela Cambone, he speaks candidly about the true culprits behind the GameStop saga. "The stock market is not a game, it's a serious thing for serious people," Cohodes says. The famed short seller explains that hedge funds like Point72 and Melvin Capital are creating significant systemic r...Read More
0:00?EUR< - Gold vs. U.S. dollar1:21?EUR< - Gold sentiment4:28?EUR< - Macroeconomic picture7:11?EUR< - Commodity cycles8:50?EUR< - Warren Buffett liquidating Barrick shares13:10?EUR< - Silver vs gold in 2021Rising yields and a stronger dollar from earlier this week have put pressure on gold, but the long-term macroeconomic fundamentals have not changed for the metal's bullish outlook, said Peter H...Read More