The Supreme Court of Queensland, Australia, has dismissed rail freight operator Aurizon's legal challenge to the Queensland Competition Authority's (QCA) draft decision to limit its potential revenues for the 2017-2021 period.The draft decision entailed limiting Aurizon's maximum allowable revenue to A$3.893 billion over the four-year period - A$1 billion below the company's project...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreRio Tinto, Global Ore, 50,000 tonnes of 62.5% Fe Pilbara Blend lumps, sold at the November average of a 62% Fe index, adjusted for Fe content, plus a lump premium of $0.3390 per dry metric tonne unit, laycan November 15-24.Glob...Read More

Prices for iron ore fines weakened on Wednesday October 31 in a cautious market, while lump premiums traded higher.MB 62% Fe Iron Ore Index: $75.71 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.74 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $80.13 per tonne cfr Qingdao, down $0.04 per tonne. MB 58% Fe Premium Index: $67.42 pe...Read More

Chinese end users appear to still have interest for premium low-vol hard coking coal, with a cargo of such materials changing hands at a price above the previously traded level on Wednesday October 31.A trader source told Fastmarkets that the shipment was traded at just above last week's transaction price of $220 per tonne cfr China. But this deal aside, an air of caution continued to pervade in t...Read More

The latest metal markets news and price moves to start the North American day on Wednesday October 31.Base metals on the London Metal Exchange consolidated lower during morning trading on Wednesday October 31, with downward pressure emerging from broad corrections in key indices such as the S&P 500 and Dow Jones Industrial Average, while dollar strength continues to hamper investment.Here...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 31* Copper -$103.74 (-724.61 yuan) Aluminium -$436.45 (-3,048.53 yuan) Zinc -$47.26 (-330.08 yuan) Nickel $586.71 (4,098.08 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices at 3pm...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 Wednesday October 31:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,500-51,000 yuan per tonne from 51,000-51,500 yuanBismuth MB free market, $/lb: $3.60-4.10 per lb from $3.80-4.30Cobalt MB China domestic, yuan/tonne: 430,000-450,000 yuan per tonne from 445,000-465,000 yuanCobalt tetroxide min...Read More

The European copper cathode premium dipped on Tuesday October 30 while the cif Shanghai premium was slightly lower after a sustained import loss and wider backwardation in the London Metal Exchange spread pushed traders to the sidelines; the US premium was steady with the focus on annual negotiations. European market slips on backwardation. Shanghai cif premium slightly lower due to import a...Read More

China's crude stainless steel output increased in the first nine months of 2018 amid higher prices and healthy profit.Stainless steelmakers in the country produced 20.75 million tonnes of crude stainless steel during the period, up 8.5% from an adjusted 19.12 million tonnes from January to September in 2017, according to data released by the China Stainless Steel Council late on Monday October 29....Read More

The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 31:Aluminium scrapGroup 1 pure 99% & litho: ?1,380-1,430 per tonne from ?1,390-1,440Commercial pure cuttings: ?1,100-1,140 per tonne from ?1,100-1,150Clean HE9 extrusions: ?1,390-1,440 per tonne...Read More

Ferrous scrap demand in Asia has been thin this week in the face of falling prices.Buyers in key import markets are holding back from purchasing import cargoes amid expectations of further price falls. "South Korea does not have demand for imported heavy melting scrap cargoes this week because domestic scrap inventory level is high," a source familiar with the South Korean import market said. Buye...Read More

Shares of Guyana Goldfields (TSX: GUY; US-OTC: GUYFF) plunged 46% to $1.62 on news that the company has cut its 2018 production guidance and launched a review of the underlying resource model at its Aurora gold mine.The company has hired engineering firm RPA Inc. to investigate the geologic controls and grade variability of the mine's Rory's Knoll deposit. Results of the review will be released in...Read More

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Sharply weak silver is weighing heavily on primary silver miners with some of the hardest hit being smaller miners. Among the worst affected is one-time market darling Great Panther Silver (TSX:GPR)(NYSE:GPL), which has seen its stock plunge by a whopping 51% since the start of 2018 compared to silver only shedding 15%. The primary silver miner's latest results have not helped assuage market conce...Read More

October has traditionally been a poor month for stocks, but it's doubtful that even the most bearish investors could have predicted this year's carnage.The TSX Composite Index has declined 8.4% from the 1st to the 30th of October. The S&P 500 has performed even worse, falling more than 9% during the same period. Both these results look pretty good against the NASDAQ 100, which is down nearly 1...Read More

Bob Moriarty ArchivesNov 1, 2018Iintroduced Benchmark Metals to my readers just a week ago and they continue to deliver. The company’s main project is in the Golden Triangle that continues to attract investor attention even in an especially boring market for resources. For most companies I fear little or no action until tax loss selling has once again passed. That’s another six weeks....Read More

One of the proprietors of StockBoardAsset.com tweeted about two weeks ago wondering when the stock market was going to start pricing in a slow-down in the economy. To that I responded by pointing out that the DJ Home Construction index is starting to price in a housing market crash. Residential construction + all economic activity connected to selling and financing existing homes is probably aroun...Read More

From left to right, the late Paul Burkett, Roy Davis, Tom GeswicAlliance Mining Corp. [ALM-TSXV] on Thursday November 1 said recent analysis of the 2006 drill logs from its Tonopah uranium project in Nevada has revealed the presence of vanadium in both the oxidized and non-oxidized clastic sediments.Alliance Mining shares rallied on the news, rising 40% or $0.01 to 3.5 cents.Alliance said vanadium...Read More

Note: all numbers are rounded.* AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver andUS$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver and 98.9% gold.**UB signifies an underground core hole. BA is a surface core hole.All assays were completed by ALS Chemex in Hermosillo, Mexico, and North Vancouver, BC, Canada.H...Read More