The U.S. dollar, as we know it today, just turned 50.Sunday marked the 50th anniversary of the dollar becoming a fiat currency. On August 15, 1971, President Richard Nixon announced the dollar would no longer be convertible to gold, but would instead be backed by the Full Faith and Credit Clause of the Constitution.This was the end of what is colloquially known as the "gold standard" in America an...Read More

Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More

Cancellation of 44,000 tonnes of copper in London Metal Exchange warehouses kept the metal's nearby price spreads in backwardation on Monday August 23, while sentiment for LME prices turned positive after a week of selling.Some 44,475 tonnes of copper were booked for removal from the Busan, Singapore and Kaohsiung warehouses on Monday, reducing the amount of metal on-warrant to 197,750 tonnes, the...Read More

A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More

KEFI said it had assembled a funding package of US$356 million, which should cover infrastructure, start-up of the open pit and initial work on the underground development. The company previously Read More

Alumina prices climbed on Monday August 23 to their highest since February 1 last year, after trading sideways for most of this month.Fastmarkets' alumina index, fob Australia, was assessed at $305.00 per tonne on Monday, up from $301.32 per tonne on August 20.A deal was reported at $305 per tonne on an fob Western Australia basis earlier on Monday. But market participants were focused on the poss...Read More

The latest 22 holes at VC-07 East hit multiple broad intersections of massive, semi-massive, matrix and heavily disseminated nickel-copper sulphides. The widest hit was 46.Read More

Manganese ore prices at China's Tianjin port rebounded during the week to Friday August 20, supported by elevated costs and a drop in stocks after many suppliers destocked in recent weeks.Fastmarkets calculated the manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China at 34 yuan ($5.22) per dry metric tonne unit (dmtu) on Friday, up by 0.70 yuan, or 2.1%, from 33.30 yuan per dmtu...Read More

Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.In late December 2020, Tianjin Port Group passed a proposal to raise the ceiling level on storage charges for non-ferrous cargoes held at the largest port in northern China.From January 1, 2021, it announced, non-ferrous cargoes stored for lon...Read More

Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More

A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More

Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More

Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More

Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More

A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More

A summary of China's battery raw materials exports for July 2021, according to the latest Chinese customs data released last Friday August 20.In brief?EUR?Lithium hydroxide exports fell month on month due to a shortage in China amid lithium feedstock supply constraints coupled with strong demand from the...Read More

Australia-listed IGO Limited has announced its first lithium hydroxide chemical production at Kwinana Lithium Hydroxide Refinery in Australia, it said on Monday 23 August.On 30 June, IGO completed a joint venture deal with Chinese Lithium producer Tianqi Lithium. The joint venture is 49% owned by IGO and 51% owned by Tianqi. The refinery will improve product quality to battery grade for...Read More

Radius Gold Inc. (TSXV: RDU) is a gold and silver exploration Company, with a portfolio of compelling projects, located in Mexico, and Guatemala. Radius utilizes partnerships, where appropriate, to retain our Company's strong treasury. We learned from Bruce Smith, President and CEO of Radius Gold, that they are currently drilling at two projects, Holly in Guatemala, in joint venture, with Volcanic...Read More

The domestic hot-rolled coil market in Europe remained quiet on Monday August 23, with buyers and mills split over the price trend for September, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,143.33 ($1,337.42) per tonne on August 23, up by ?,?0.83 per tonne from ?,?1,142.50 per tonne on Friday August 20.The i...Read More

After Saigon fell, so did gold. Is history about to repeat after the surrender of the Afghanistan government to the Taliban? Meanwhile, a Canadian DeFi revolution may be just around the corner.Gold initially fell after the American defeat in VietnamWe also update our view on oil & gas stocks in this week's Insights. Read More