Rio Tinto, in partnership with Indium Corporation, has successfully extracted its first primary gallium as part of a research and development initiative aimed at producing commercial quantities of the critical mineral. This milestone was achieved using bauxite processed at Rio Tinto’s Vaudreuil alumina refinery in Quebec, the only facility of its kind in Canada. The initial extraction took place at Indium Corporation’s research facility in Rome, New York.
The project’s next phase will evaluate methods to scale up extraction to pilot-level production. If the pilot phase proves successful, Rio Tinto plans to construct a demonstration plant in Saguenay–Lac-Saint-Jean, supported by the Quebec government. The proposed facility would be capable of producing up to 3.5 metric tons of gallium annually. Ultimately, commercial-scale operations could yield up to 40 metric tons per year, which would represent approximately 5% to 10% of current global gallium production.
“This is a significant milestone in our effort to extract gallium from our aluminum operations in Quebec,” said Jérôme Pécresse, chief executive of Rio Tinto Aluminium. “Through this innovative partnership, Rio Tinto and Indium Corporation aim to bolster the North American supply chain for this vital and strategic mineral.”
Ross Berntson, president and CEO of Indium Corporation, echoed the sentiment. “This achievement marks a major step forward in our commitment to global industry needs,” he said. “Together, we are establishing North America as a key player in critical material production.”
Gallium plays an essential role in advanced technologies, including integrated circuits used in high-performance radar systems, smartphones, laptops and electric vehicles. Currently, global gallium production is estimated at only 600 metric tons per year, with none sourced from North America.
Rio Tinto's effort to produce gallium aligns with its broader strategy to strengthen the critical minerals supply chain in North America. The company already produces a range of these materials at its regional facilities, including scandium for aluminum alloys, tellurium for solar panels, lithium for electric vehicle batteries and molybdenum for steel alloys. Additional research is underway to explore the recovery of other strategic minerals from existing operations.
This development signals a growing commitment to supporting clean technologies and securing local sources of vital materials needed for the energy transition and advanced manufacturing sectors.
Rio Tinto is a British-Australian multinational corporation and the world’s second-largest mining and metals company. Established in 1873 to mine copper in Huelva, Spain, the company has since evolved into a global leader in the production and processing of key materials. Today, its operations span a wide range of essential minerals, including iron ore, copper, aluminum, and other critical resources vital to modern industry.
Amazon (AMZN) and Tesla (TSLA) led the "Magnificent Seven" Big Tech stock surge late Monday morning after the US and China announced a temporary trade war truce.
Amazon shares surged 7.2% while Tesla jumped 6.8%
Meanwhile, Apple (AAPL) shares rose 5.2%, Meta (META) spiked 6.6%, and Nvidia (NVDA) gained 4.3%.
Google (GOOG) and Microsoft (MSFT) stocks rose more modestly, gaining 2.7% and less than 1%, respectively.
The US has agreed to temporarily slash tariffs on Chinese goods, which currently run as high as 145%, to 30%, after two days of high-stakes talks between the countries, Yahoo Finance’s Ben Werschkul reports. China will lower its retaliatory duties on US goods from 125% to 10%. The temporary reduction in rates will run for 90 days.
“This is very bullish news for the tech trade as the supply chain concerns will now be significantly reduced,” Wedbush analyst Dan Ives wrote in a Monday note to investors following the news.
Ives has previously noted that Tesla sources a “considerable amount” of parts and batteries from countries including China.
As far as Amazon goes, Raymond James estimated that some 30% of the total value of goods sold on its website comes from China, and Chinese advertisers accounted for 14% of total spending on Amazon advertising in 2024. Chinese advertisers account for roughly 11% and 6% of total ad spending on Meta and Google, respectively, analysts at the investment firm said.
Meanwhile, some 90% of Apple iPhones are made in China, and China accounted for 17% of Apple’s revenue in 2024.
DA Davidson analyst Gil Luria estimates that Chinese companies represent anywhere between 20% and 40% of Nvidia’s end customers.
The Magnificent Seven firms have had a rocky month after Trump’s April 2 “reciprocal tariff” plan was announced, shedding $2 trillion from their cumulative market capitalizations in the immediate aftermath of the news.
Trump enacted a 10% tariff on all global imports on April 5. His steep "reciprocal" tariffs on key US trading partners were initially set to take effect April 9 but were paused for 90 days, with the exception of a 145% duty on Chinese imports.
The Trump administration had issued an exemption from tariffs for electronics, including most of Apple’s products.
At the same time, the US government placed export bans on Nvidia’s H20 chips for China, which has sent the AI chipmaker's shares tumbling and set the stage for tariffing semiconductors.
Ives wrote Monday that “there is more wood to chop around chip restrictions (H20/Nvidia) and other issues in the AI trade that need to be addressed as part of a broader deal with US/China.”
By Leonard Hyman & William Tilles - May 12, 2025, 2:00 PM CDT
The lights went out on the Iberian Peninsula on April 28. Immediately afterwards, the experts chimed in, either providing a reason for the failure or a cure for what ails the Spanish grid, although, as of this writing almost two weeks later, nobody knows for sure what went wrong. The engineers favored the explanation that the Spanish grid had too many renewable power sources and renewables, as everyone knows, lack inertia. So, maybe the grid needed more gas-fired, coal-fired, nuclear power plants or a better connection to France. The Spanish prime minister shot back that Spain was not going to pull back from renewables and the inertial problem could be dealt with. Probably no country in Europe has so much solar potential and so little spare water for conventional generation than Spain. So somebody said something sensible.
But that is not the point. Whenever the grid goes down, people try to fix it, by adding more safeguards, enlarging it, adding transmission, employing sensors, whatever. We think these improvers may have it wrong. Yes, the grid is an immensely complex, huge system—a wonder of modern technology— but the bigger and more complex it becomes, the more likely that a failure (or sabotage) will have major rather than minor consequences. They have been fixing the grid for decades (and enlarging markets to allow more competition) and the grid still breaks down. Consider this partial list of failures in the USA, since the Northeast Blackout of 1965, which first suggested to Americans that electricity service was not a sure thing. ( If we added in the non-US outages we’d fill pages.)
All these fixes remind us of the comment by famous psychologist Abraham Maslow, “It is tempting, if the only tool you have is a hammer, to treat everything as if it were a nail.” In other words, maybe the grid itself is the problem, so fixing it does not rid us of the problem. Why continue to sink money into fixing the grid instead of finding another solution? First, engineering studies usually find that big solutions are cheaper than small solutions per unit of output. That is, no doubt true, as long as you don’t count the costs to customers when the grid goes down or the project costs spectacularly more than expected. Second, system planners may focus more on the probability of untoward events than on the potential harm caused by extremely low probability but high damage events. (In the old days, planners didn’t rely on sophisticated risk analyses. They had inviolable rules of thumb, such as the N-1 rule. The system had to be built to survive the loss of its largest component.) Third, we see a switch in goals from reliability (don’t let the bad things happen), to resilience (get the system back on as quickly as possible). Finally, market proponents want big markets to achieve scale and ensure enough competition in the markets. All of this says don’t look for solutions that might decentralize and distribute resources because that path will cause a lot of inconvenience (and possible financial losses) to those in the business.
This may seem theoretical. After all, electric service has been rickety for years, and we’ve survived. True, but the grid faces new short-term challenges. Climate change will surely raise demand, as will data centers (that could go from zero to one-tenth of load within a few years). If the grid is to support data center needs without degrading service for everyone else, everyone else will have to pay to upgrade the grid (even if the data centers make their own power deals). The rest of us might be better off if the data business ran its own separate generation and transmission network.
Back in the days when left-wing and anarchist graffiti artists had real style, one group painted this word of advice, “If the answer is the system, you are asking the wrong question.” Since 1965, sixty years of improving and enlarging the grid, and the lights still go out. Maybe it’s time to try something different? Or, maybe we should just get used to it?
https://oilprice.com/Energy/Energy-General/The-Case-Against-Fixing-the-Grid-Again.html
Oil jumped as much as 4% before paring gains Monday after a US-China trade truce sent the overall stock market and commodities higher.
West Texas Intermediate (CL=F) futures rallied over 2% to hover near $62.50 per barrel. Brent crude (BZ=F), the international benchmark, also rebounded to trade above $65.
Monday's oil price rally was exacerbated by a likely short position covering after talks between the US and China resulted in a 90-day pause on tariffs and substantial reduction of duties.
"For traders it's a 'risk back on' signal which is triggering some short covering in crude," Dennis Kissler, senior vice president at BOK Financial said in a client note. Investors had feared the trade war would spark an economic slowdown, impacting oil demand.
In other news, oil giant Saudi Aramco announced over the weekend it saw profits plunge last quarter, fueling speculation that Saudi Arabia, the leader of the Organization of Petroleum Exporting Countries and its allies (OPEC+) could push to curtail some of the cartel's recent production hike promises.
Futures are down more than 12% year-to-date as fears of demand from a global trade ware and expectations of more supply from OPEC have weighed on prices.
Last week US shale producer Diamondback warned domestic production had likely peaked and would decline in the coming quarters given the current prices.
Goldman Sachs analysts see downside risks to oil if OPEC+ moves forward with its output increases, and even decides to raise in July too.
"We expect solid supply growth outside US shale to weigh further on prices and on US shale supply, and update our estimates of the (mostly downside) risks to prices," Goldman's Daan Stuyven and his team wrote on Sunday night.
The analysts forecast Brent to edge down and average $60 in the rest of 2025, with WTI averaging $56.
Oil futures rose as much as 4% Monday on news of a US-China 90-day pause on reciprocal tariffs. (Photo by Costfoto/NurPhoto via Getty Images) · NurPhoto via Getty Images
Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre.
More than $1 billion worth of Venezuelan oil has been sold in China as Brazilian over the past 10 months, Reuters has reported, citing cargo tracking data and industry sources who wished to remain unnamed.
The rebranding of the crude has cut transportation costs for Venezuelan crude and facilitated U.S. sanction circumvention, the report noted. Before, traders resorted to ship-to-ship transfer at sea to mask the crude but now they have taken to manipulating vessels’ location signals to make it look like they are travelling from Brazilian ports instead of Venezuelan ones, data from TankerTrackers.com has shown, per Reuters.
The publication then cited Chinese customs data as showing imports of mixed bitumen from Brazil flowed in at a rate of 67,000 barrels daily between July2024 and March this year. However, Brazil’s Petrobras does not export bitumen to China.
“What we export to China is mainly crude oil from the pre-salt, it's not bitumen,” Reuters cited Petrobras chief executive Magda Chambriard as saying at a recent industry event.
Venezuela, however, is famous for its heavy crude, which it sells under the name Merey, mostly to Chinese so-called teapot refiners, who take advantage of the fact there are no government-set quotas for bitumen purchases. The oil gets its certificate of origin changed from Venezuela to Brazil and can be shipped as Brazilian crude around sanctions.
Meanwhile, the United States has once again tightened the noose around Caracas, with President Trump announcing last month that any country that buys oil or gas from Venezuela will pay a 25% secondary tariff on trades with the United States.
The U.S. federal government also revoked Chevron’s license to operate in Venezuela and cancelled some planned cargos, which dealt an immediate blow to Venezuela’s oil exports, slashing them by 20% in April from March, to some 700,000 barrels daily—the lowest export rate in nine months.
Motorists will again have a slight reprieve this week, as firms on Monday announced another round of pump price rollbacks to mark the second straight week of downward price adjustments.
In separate advisories, Petron Corp., Chevron Philippines Inc. (Caltex), Seaoil Philippines Corp., Shell Pilipinas Corp. said they will lower prices per liter of gasoline by P0.30, diesel by P0.90, and kerosene by P1.25.
Jetti Petroleum, Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.
The adjustments will take effect at 6 a.m. on Tuesday, May 13, for all the firms except for Cleanfuel which will adjust prices at 8:01 a.m. the same day.
Other firms have yet to make similar announcements for the week.
The Department of Energy - Oil Industry Management Bureau (DOE-OIMB) earlier projected downward adjustments this week, with over P1 per liter decreases for both diesel and kerosene, citing the decision of the Organization of the Petroleum Exporting Countries (OPEC) to increase June production levels, and the uncertainty over the outcome of trade talks between the United States and China.
Firms last week rolled back prices of gasoline by P0.55, diesel by P0.65, and kerosene by P0.90.
This brought year-to-date adjustments to a net increase of P3.13 per liter for gasoline and P3.00 per liter for diesel, and a net decrease of P2.00 per liter for kerosene as of May 6, 2025. — RSJ/RF, GMA Integrated News
A court in Switzerland said on Friday that Nord Stream 2, part of Russian gas company Gazprom, has reached a debt restructuring agreement with its creditors.
The court had set a deadline of May 9 for Switzerland-based Nord Stream 2 to both restructure its debts and pay back small-scale creditors. The court had said it could declare Nord Stream 2 bankrupt if this condition was not met.
The $11 billion Nord Stream 2 pipeline to carry Russian gas to Europe was completed in 2021 but was never commissioned as relations with Moscow broke down ahead of Russia's invasion of Ukraine in February 2022.
Europe slashed its imports of Russian gas following Moscow's invasion and Gazprom posted a $7 billion loss the following year.
The court in Zug in Switzerland said the decision could still be appealed. It declined to give further details on the debt or the creditors.
Gazprom did not reply to a request for comment.
The Nord Stream pipeline system is made up of two double pipelines across the Baltic Sea to Germany and was the biggest route for Russian gas to enter Europe. It was capable of delivering 110 billion cubic metres of gas a year.
But in September 2022, one of the two lines of Nord Stream 2 was damaged by mysterious blasts, along with both lines of Nord Stream 1.
U.S. President Donald Trump is pushing for peace in Ukraine, raising the prospects of a thaw in gas ties.
Officials from Washington and Moscow have held discussions about the U.S. helping to revive Russian gas sales to the continent, eight sources familiar with the talks have told Reuters.
But Brussels wants to ban new Russian gas deals by the end of 2025 and ban imports under existing deals by the end of 2027.
The plan, to be debated next month, would require approval from the European Parliament and a majority of member states.
Hungary and Slovakia have expressed their opposition to the move.
© Framestock / Adobe Stock
(Reuters - Writing by Miranda Murray and Nina Chestney; editing by Matthias Williams and Jane Merriman)
https://www.oedigital.com/news/525589-nord-stream-2-reaches-debt-restructuring-deal
Gas supplies from Russia to China to be higher in 2025, coal supplies to be slightly lower than last year - Deputy PM Novak
MOSCOW. May 12 (Interfax) - Energy supplies from Russia to China will be higher in 2025 than they were last year, Russian Deputy Prime Minister Alexander Novak told reporters on Thursday.
"Coal supplies will be slightly lower, gas supplies will definitely be higher because we are reaching the contractual obligations for the Power of Siberia [pipeline], and LNG supplies will also be higher. In total, we will reach higher levels in the equivalent of energy resources," he said.
"The Power of Siberia gas pipeline has now reached its full design capacity, with 31 billion cubic meters of natural gas delivered to our Chinese partners [by the end of 2024]," Russian President Vladimir Putin said.
"Gazprom consistently meets the requests of its Chinese counterparts, regularly supplying volumes beyond those stipulated in the contractual obligations. The launch of the Far Eastern Gas Pipeline scheduled for 2027 will increase Russian gas exports by another 10 billion cubic meters. The volume of LNG that Russia supplies to China is also increasing," Putin said after talks with Chinese President Xi Jinping.
According to the General Administration of Customs of the People's Republic of China, LNG supplies from Russia to China totaled 959,000 tonnes in the first two months of 2025 compared to 933,000 tonnes in the same period of 2024.
APA said it is lowering its 2025 spending plan by $175 million to protect cash flow amid uncertainty in commodity prices.
APA Corp. said it is lowering its 2025 spending plan by $175 million to protect cash flow amid uncertainty in commodity prices.
“Improved efficiencies and reduced activity will lower the company's 2025 development capital by $150 million”, the Houston, Texas-based explorer and producer said in its quarterly report. “Combined with a $25 million reduction in exploration capital, these steps will protect free cash flow amidst volatile commodity prices.
“As the company integrated the Callon acquisition, activity was reduced to 8 rigs, a level capable of maintaining oil volumes in the Permian”.
APA completed its merger with Callon Petroleum Co. in the second quarter of 2024, in a $4.5-billion transaction that it said would raise its production to about 500,000 barrels of oil equivalent per day (boepd). The acquired assets included about 120,000 net acres in the Delaware Basin and 25,000 net acres in the Midland Basin, which are Permian sub-basins. APA has said the Permian is expected to account for about two-thirds of the production of the combined company.
“With confidence in captured operating efficiencies, APA now expects to hold Permian oil volumes sustainably flat with 6.5 rigs”, the quarterly statement said. “Given current market conditions the company is in the process of reducing activity to 6 rigs by the end of the second quarter and adjusting its completion schedule to align with this cadence”.
However, it is keeping its full-year United States oil production guidance at 125,000-127,000 bpd.
APA added, “In Egypt, given early success in the gas appraisal and development programs, gas-focused drilling has increased to over a third of the activity. The company expects 2025 gas production volumes to continue on a strong growing trajectory, leading to higher average realized gas prices through the fourth quarter”.
APA also recently signed an agreement to sell New Mexico acreage with an expected second-quarter production of about 12,000 boed to Permian Resources Corp. for $608 million. Expected to close June, the transaction would see APA offload 13,320 net acres and 8,700 net royalty acres in the northern part of the Delaware Basin including over 100 gross operated locations stretching 2 miles, according to a press release by the buyer.
In the first quarter (Q1), APA’s output averaged 469,000 boepd. Adjusted for Egyptian noncontrolling-interest and tax barrels, production was 398,000 boepd.
Net profit attributable to shareholders was $347 million, or $0.96 per diluted share. Adjusted for special items, net income becomes $385 million, or $1.06 per diluted share.
Operating activities generated $1.1 billion in net cash. Adjusted earnings before interest, taxes, depreciation, amortization and exploration expense came at $1.5 billion.
The natural resources player has acquired two projects in the Côte d’Ivoire.
Resolute Mining has invested USD 150 million to expand its West African operational footprint by acquiring two projects from AngloGold Ashanti. The Australian mining company purchased the Doropo and ABC gold projects in Côte d’Ivoire, while also transferring its Guinean exploration permits to AngloGold as part of the agreement. Resolute announced the deal on 1 May.
The assets join the existing Resolute projects of the Mako mine in Senegal and the Syama mine in Mali. Over the next three years, the Doropo mine is expected to boost the company’s gold production to over 500koz per year. The project has seven exploration permits and spans approximately 1,850 square kilometres in the northeast of Côte d’Ivoire.
The Doropo facility has also received regulatory approval for its environmental and social impact assessment, with the environmental permit granted in June last year.
The ABC gold project is currently at an exploratory stage, along with the existing La Debo exploration project held by Resolute in the Côte d’Ivoire.
The payment to South Africa-based AngloGold Ashanti has been scheduled in three instalments, with the initial USD 25 million issued at the closing of the deal, the second instalment of USD 50 million set for delivery 18 months after closing, and the final USD 75 million payment to be paid 30 months after the deal.
Additionally, the transfer of Resolute’s Guinean permits is currently pending approval by the Guinean government. However, if the transfer fails after 18 months, Resolute will pay AngloGold USD 25 million instead.
Resolute Mining managing director and CEO Chris Eger said in a statement: “The Doropo and ABC projects present a compelling opportunity to diversify and increase our production profile in the near term to over 500koz, harnessing our existing exploration presence in Côte d’Ivoire, a highly regarded and established mining jurisdiction.”
He added: “Once in production, Doropo will complement Resolute’s existing operations at Syama and Mako, further strengthening the group’s cash flow.”
Resolute was advised on the legal aspects of the deal by North and West African law firm ADNA, with a team led by partner Sydney Domoraud and with assistance from associates Christina Karaouni and Sigismond Konan.
Domoraud said in a statement that the acquisition “not only strengthens [Resolute’s] presence in West Africa but also aligns with its long-term growth strategy”.
In other news from Côte d’Ivoire, a new law firm opened for business in Abidjan on 6 May, launched by Bennani & Associés’ former Organisation for the Harmonisation of Business Law in Africa (OHADA) practice head.
Thiess, Norton Gold Fields (NGF) and EACON Mining Technology have officially launched a landmark trial of autonomous haulage technology in Australia.
The formal partnership agreement was signed during a ceremony in Melbourne, attended by senior executives.
“This ceremony represents more than the signing of an agreement,” EACON Mining Australia chief operating officer Elaine Jin said.
“It reflects a shared commitment to redefining what’s possible in mining through innovation and collaboration. Together, we’re laying the foundation for a safer, smarter, and more sustainable future.”
The project will be trialled at NGF’s open pit gold mines in Western Australia, which are wholly owned by global miner Zijin Mining.
It will be rolled out in two phases, starting with EACON’s autonomy solution being retrofitted to two Komatsu HD1500 trucks to validate performance under real-world conditions.
The second phase, set to begin in 2026, will see a fully autonomous fleet operating in an active production pit.
“This project is a key step in bringing smart mining to our overseas operations,” Zijin overseas operations department executive general manager Jiansheng Liao.
“We believe that, through close collaboration, autonomous technology will deliver impactful results at Norton Gold Fields and help drive Zijin’s global push for intelligent mining.”
Thiess group executive autonomy and assets Ryan Kirkwood highlighted EACON’s ORCASTRA platform as a stand out.
“EACON’s OEM-agnostic platform, scalability, and demonstrated results were key to moving this collaboration forward,” he said.
“Their technology, combined with Thiess’ 90 years of owning and maintaining mining assets across the world, provides the flexibility and proven experience needed to deliver tailored autonomy solutions across diverse mining environments.”
With over 20 global locations, ORCASTRA will now be put to the test in one of Australia’s most established mining jurisdictions.
The platform is a comprehensive suit that integrates data-driven decision-making, situational awareness, and real-time risk management to enable safe, efficient operations in challenging mining environments.
Thiess and EACON started its partnership in September, signing a memorandum of understanding to deliver OEM-agnostic autonomous technology and advance decarbonisation in the mining industry.
NGF chief executive officer Wei Lin said the technology would help address driver shortages, reduce costs, and unlock lower-grade ore.
“By adopting EACON’s autonomous truck technology, we aim to address the shortage of skilled drivers, reduce our operating costs, and enhance on-site safety,” Lin said.
“More importantly, this technology will enable us to mine low-grade resources that were previously out of reach – supporting community development, job creation, and long-term value.”
https://skillings.net/thiess-launches-groundbreaking-tripartite-partnership/
On May 10 (Saturday), First Quantum Minerals remained cautiously optimistic about the prospects of its copper mine in Panama, as the local government was considering how and when to restart the shuttered Cobre Panamá copper mine.
Discussions at the legal level were ongoing, with authorities exploring future paths for First Quantum Minerals to release concentrate inventory and restart the power plant at the copper mine site. Prior to this, First Quantum Minerals decided in early April to withdraw its international arbitration case against Panama.
Panamanian President José Raúl Mulino expressed interest in establishing a new cooperation model to strengthen the state's ownership of the mine, but warned that a complete shutdown of the mine would take 15 years, considering the project's scale and economic impact. The mine directly and indirectly provides tens of thousands of jobs.
"Let's be smart and let Panamanians maximize the benefits from the mine we already own," he said.
The review, which initially began with an environmental audit, may now expand to include financial terms. Matt Murphy, an analyst at BMO Capital Markets, believes this is a potential benefit, suggesting that parallel reviews could expedite a resolution.
Financial negotiations have not yet commenced, and it is unclear whether Panama has hired legal experts with experience in the mining industry. According to BMO, the terms of previous negotiations may be outdated. "The top priority now is to establish new terms that will make Panama a competitive destination for global mining investment," Murphy wrote.
Cobre Panamá is Central America's largest open-pit copper mine, with copper production exceeding 330,000 mt in 2023 before operational disruptions. The $10 billion project is expected to achieve 1 million mt of copper production by the end of 2024, positioning it as one of the world's largest copper producers.
First Quantum Minerals continues to advance the $13 billion Phase S3 expansion plan for the Kansanshi copper mine in Zambia. Scheduled to be put into use later this year, the upgrade will increase the mine's annual ore processing capacity from 30 million mt to 55 million mt and extend the mine's life by over 20 years.
Ivanhoe Mines Ltd. (TSE:IVN) has been assigned a consensus rating of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$21.38.
Several research analysts recently commented on the stock. Citigroup reduced their price objective on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. UBS Group dropped their target price on Ivanhoe Mines from C$19.00 to C$17.00 in a research note on Wednesday, April 23rd. TD Securities decreased their price target on Ivanhoe Mines from C$22.00 to C$17.00 in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group lifted their target price on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a research note on Friday, April 4th.
Ivanhoe Mines Trading Down 0.1 %
Shares of TSE:IVN opened at C$13.38 on Friday. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The company has a market capitalization of C$12.68 billion, a PE ratio of 80.89 and a beta of 1.94. Ivanhoe Mines has a 12-month low of C$9.79 and a 12-month high of C$21.32. The business's fifty day simple moving average is C$13.09 and its 200-day simple moving average is C$15.91.
About Ivanhoe Mines
Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.
The Charlotte, N.C.-based steelmaker notified customers in a letter on Monday that this week’s base consumer spot price (CSP) for HR coil will be $900/st.
Nucor lowered its weekly spot price for hot-rolled (HR) coil for a second straight week, down $10 per short ton (st), after keeping it in a holding pattern for most of April.
It marks Nucor’s only third price cut year to date, and only its second double-digit cut in six months.
SMU’s May 6 check of the market revealed HR coil prices to be in the range of $820-930/st, with an average of $875/st. Members can track prices for steel sheet and plate using the Interactive Pricing Tool on our website.
Nucor’s letter noted that it will continue offering 3-5 week lead times for HR spot purchases.
SMU’s survey last week showed lead times of 3-6 weeks for HR coil in the wider market, with an average of 5.1 weeks.
Nucor also lowered the CSP for HR coil from its West Coast joint-venture subsidiary, California Steel Industries (CSI), by $10/st from last week to $960/st.
https://www.steelmarketupdate.com/2025/05/12/nucor-lowers-hrc-price-to-900-ton/
Steel rebar futures were at CNY 3,090 per tonne, trading at a relatively narrow range since dropping to six-month lows in April amid the uncertain magnitude of steel oversupply this year.
The US and China both lowered bilateral tariffs fort the next three months to de-escalate their trade war, easing concerns of poor manufacturing demand and a weaker consumer this year.
This was after reports indicated that Beijing may overhaul the country's laws to halt sales of homes before their completion.
If done, the rule would remove a key source of financing for major property developers and magnify the financial stress for the debt-ridden sector, limiting steel buying from major source of global rebar demand.
In the meantime, Baosteel signaled that Beijing will likely mandate a nationwide output cut in steel goods to combat overcapacity and weaker demand.
While the government has not specified the magnitude of the cut, reports indicated that supply could fall by 50 million tonnes this year.
https://www.tradingview.com/news/te_news:458432:0-steel-holds-in-narrow-range/