Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Copper smelters across Asia are following concentrate treatment and refining charge (TC/RC) terms agreed by Antofagasta and Jiangxi Copper, which are serving as a benchmark in contracts, sources taking part in the negotiations told Fastmarkets. In a deal signed in Shanghai in November, China's Jiangxi Copper agreed to purchase Los Pelambres and Centinela copper concentrates from Chilean miner...Read More
Treatment and refining charges (TC/RCs) for spot copper concentrate dropped in mid-December with fewer distressed cargoes circulating the market and participants beginning to price March cargoes.Spot activity in the copper concentrate market has slowed with market participants focused on settling the contractual terms for the first two weeks of December.Fastmarkets' copper concentrate index droppe...Read More
CloseGain/LossGold $1246.30+$8.00Silver$14.67+$0.09XAU69.19+2.37%HUI156.72+2.66%GDM570.75+1.84%JSE Gold1302.25+3.60USD97.14-0.32Euro113.47+0.42Yen88.54+0.31Oil$49.88-$1.3210-Year2.858%-0.035T-Bond143.75+0.46875Dow23592.98-2.11%Nasdaq6753.73-2.27%S&P2545.94-2.08% The Metals: Gold saw slight losses in Asia, but it then climbed steadily higher in London and New York and ended near its early a...Read More
Gold is not only flowing from West to East.It is also flowing into the house account at Goldman Sachs. Or at least the paper claims for it in New York.Below is the monthly report showing the large amounts of physical gold which have been steadily flowing through the Shanghai markets into strong hands in China.Few commentators are talking about this.What is less familiar, and what I have not read...Read More
The Ontario Securities Commission (OSC) is to hold a hearing on Tuesday December 18 to consider the approval of a settlement following an investigation into Katanga Mining Limited and several of its executives.The OSC inquiry has been investigating whether Katanga's previously filed periodic public disclosures contain statements that are misleading in a material respect, along with the adequacy of...Read More
United States-based specialty chemicals company Albemarle Corp has signed a deal that creates a joint venture with Mineral Resources Limited (MRL) to develop a battery-grade lithium hydroxide plant in Western Australia. The $1.15 billion agreement gives Albemarle a 50% stake in MRL's Wodgina hard rock lithium mine and will see the companies eventually develop an integrated lithium hydroxide operat...Read More
Turkish steel producers remained out of the deep-sea scrap markets because of weakening demand for finished steel and falling prices, sources said on Monday December 17.Although some suppliers in the Baltic region reduced their offers to $300-305 per tonne cfr levels for HMS 1&2 (80:20), mills in Turkey were not enticed."I heard offers from Baltic Sea are at $300 per tonne cfr and little above, bu...Read More
Turkish domestic scrap prices have continued to slip lower in line with the falling finished steel prices over the past week, sources said on Monday December 17.Fastmarkets MB's weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,490-1,710 ($278-319) per tonne delivered, widening down from TRY1,590-1,710 per tonne on December 10.Several steel mills in the country cu...Read More
A 62-kilogram sample of native gold found at the Beta Hunt Mine in Australia. Source: RNC Minerals Corp.RNC Minerals Corp. [RNX-TSX], aka Royal Nickel Corp., said Monday December 17 that it is raising $9 million to fund exploration and development at its Beta Hunt gold mine in Australia and for general corporate purposes.The company said a syndicate of underwriters have agreed to purchase 13.04 mi...Read More
A 552-carat yellow diamond, the largest ever found in North America, was recovered at the Diavik diamond mine, Northwest Territories, Canada. The mine is owned 40% by Dominion Diamond and 60% by Rio Tinto. Source: Dominion Diamond Corp.The largest diamond ever found in North America has been recovered from a Northwest Territories mine controlled by Dominion Diamond Corp. and Rio Tinto Plc [RIO-NYS...Read More
The Comex copper price fell in morning trading on Monday December 17 amid quiet trading conditions and uncertainty surrounding the future of American monetary policy. The copper price for March settlement on the Comex division of the New York Mercantile Exchange fell 2.70 cents to $2.7355 per lb. US market participants are awaiting the Federal Reserve's Wednesday decision on another rate hike. Glo...Read More
The three-month base metals prices on the London Metal Exchange were for the most part little changed this morning, Monday December 17. The exception was zinc, the price of which was up by 1.3% at $2,565 per tonne. The three-month copper price was down by $1.50 per tonne at $6,139 per tonne.Volume across the complex has been above average with 6,271 lots traded as at 7.53am London time.The preciou...Read More
United States-based specialty chemicals company Albemarle Corp has signed a deal that creates a joint venture with Mineral Resources Limited (MRL) to develop a battery-grade lithium hydroxide plant in Western Australia. The $1.15 billion agreement gives Albemarle a 50% stake in MRL's Wodgina hard rock lithium mine and will see the companies eventually develop an integrated lithium hydroxide operat...Read More
Share this articleTORONTO - The Ontario Securities Commission says it has reached a tentative settlement with Katanga Mining Ltd. on allegations that the company violated securities rules by not properly disclosing public-sector corruption risks in the Democratic Republic of the Congo.The regulator has accused the company, a subsidiary of Swiss mining giant Glencore Plc, and several members of...Read More
Assumptions are more common than the truth...And that's not commentary on "fake news" or other modern phenomena. It's instead a fact of the human condition.The human brain has an amazing ability to fill in missing information in any given scenario where 100% of the information isn't present. In other words, it can make assumptions. And your brain is pretty good at it, too.One way it uses this skil...Read More
Last Wednesday in an a post, we noted that our 30-day Pharmaceuticals Indicator had peaked on Tuesday. As it turned out, the indicator has since moved back up and peaked again. This adds an extra degree of uncertainty to the prospect that a base for the group may have been established. Once the 30-day indicator moves below the 60-day indicator we will have a bit more confidence that investor anxi...Read More
The export market for flat steel products from the Commonwealth of Independent States (CIS) remains weak because of low demand ahead of the end of the year, with buyers fearing further price falls early in 2019. Fastmarkets MB's weekly price assessment for CIS-origin HRC exports was $450-470 per tonne fob Black Sea on Monday December 17, down from $460-475 per tonne fob a week ago."Suppliers [of H...Read More
The anti-establishment movements such as what we have seen in France and Italy are growing and will continue into the New Year says Gerald Celente from the TrendsJournal.com. In a wide ranging interview with Jim Goddard on This Week in Money, Celente also suggests weakness in the housing market is a bad omen for the entire economy.Celente explains that wealth inequality is the driving factor behi...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index resumed its rapid downhill sleigh ride. The Index opened lower last week and after being unable to break above 1050, continued to head down, influenced by world market weakness and tax loss selling (which ends December 27th for Canadian stocks)....Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More