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
Here are five Fastmarkets MB stories you might have missed on Thursday January 3 that are worth another look.Fastmarkets worked to empower its customers in 2018 - a year when they had to navigate metal markets in which fundamentals were often tightening even as greater political restraints were placed on trade than for many years. A quick review of the key developments also indicate our...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 2 that are worth another look.The aluminium import arbitrage between the United States and Asia narrowed slightly in December due to the lower ocean-freight rates only partly offsetting the lower Midwest aluminium premiums.There will be a massive influx of copper scrap to China in the first half of this year, with mark...Read More
Anglo American's base metals division will get its own executive to run operations as part of a change to its top management team, the company said on Thursday January 3. Base metals operations, which currently function under the strategy and business division, will be separated on March 1 and run by Ruben Fernandes, the current chief executive officer of Anglo American Brasil. The miner has also...Read More
Michael says that in 2019, one must surmise that silver has to be owned - period! Here are Michael's reasons why...by Michael Ballanger via Streetwise ReportsA Brief Word on ForecastsEach year between December 25 and January 1, every blogger, analyst, newsletter guru, or market historian like me issues their "forecast" for the upcoming year, and what I find a worthy exercise is to go back and read...Read More
Price variations between the cobalt markets in China and internationally reached all-time highs in 2018 when China reacted to rising volumes of cobalt supply from which the overseas metal markets were somewhat protected.At times, wide differentials created appealing theoretical arbitrage opportunities for Chinese exporters, but it was the sentiment and outlook of overseas buyers that ultimate...Read More
Japanese steel plate supply is expected to remain tight in 2019 on firm demand from downstream segments, especially the key shipbuilding industry, a source at a leading Japan-based steel mill told Fastmarkets MB."Both domestic and global demand for steel plate is healthy, and we expect that there will continue to be limited supply for both local and export customers," the source said.Plate export...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 3, with copper futures sinking to their lowest level since June 2017, while tin's three-month price climbed to a four-month high. Topping complex volumes, with 23,800 lots changing hands, copper's three-month price closed below $5,800 per tonne for the first time since August 2018 and was th...Read More
Comex copper suffered a third straight decline this morning in the United States to begin the New Year, with continued recession worries and equity market instability sinking the commodities complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange sank 3.15 cents to $2.5915 per lb. In macro news, concerns over global economic health have persiste...Read More
Physical iron ore prices rose on Thursday January 3 following gains in the futures and swaps markets.MB 62% Fe Iron Ore Index: $72.62 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.45 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.12 per tonne cfr Qingdao, up $0.12 per tonne. MB 58% Fe Premium Index: $64.14 per tonne cfr Qi...Read More
Since the 2011 highs, Gold futures have created a series of lower highs and lower lows inside of falling channel (1).The rally since the lows in 2016 has Gold facing the top of its 8-year falling channel at (2). This test comes into play as resistance for Gold, something it has struggled with for years.Gold bulls would receive a rare long-term bullish message if it can break out at (2)!Is the 8-ye...Read More
Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday.The country, Africa's second-largest copper producer, increased its sliding scale for royalties of 4 to 6 percent by 1.5 percentage points from Jan. 1 and introduced a new 10 percent tax...Read More
Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim chief executive officer, replacing Michael Kenyon.The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson's hedge fund, which pushed for a complete overhaul of the board and Kenyon's resignation.Williams is a mining industry veteran and was a for...Read More
Global miner Anglo American (LON:AAL) announced Thursday changes at the top that will see Ruben Fernandes, chief executive officer of the company in Brazil, being replaced by mining veteran Wilfred (Bill) Bruijn, effective March 1.Fernandes, who has led Anglo's iron ore and nickel interests in the South American country for almost three years, will become CEO of Base Metals. That position is curr...Read More
Egypt-focused gold miner Centamin (LON:CEY) (TSX:CEE) began the year with some key board changes by announcing Josef El-Raghy had moved from executive chairman to chairman, 16 years after becoming managing director.The company, which closed 2018 with disappointing news related to its Sukari gold mine in Egypt, said El-Raghy will remain on the board while the search for a successor continues.The E...Read More
Happy New Year! Diamond trade ends relatively good year with1 ct. RAPI +0.7% despite weak 2H. Diamond manufacturers cautious amidexpectations of continued midstream consolidation due to bankruptcies andmergers. Dealer market quiet over New Year holiday. Polished suppliers start2019 with high inventory of small goods up to 0.30 ct. Total diamonds listed onRapNet +24% year on year to 1.5M on Jan. 1....Read More
Polished trading down, with few foreign buyers inthe market over Christmas-New Year. Suppliers holding prices firm during lull,but willing to discount on very old stock. Manufacturers raising polishedproduction, but wary due to high inventory levels. Consolidation expected thisyear as bankruptcy rumors persist. Jewelry sales stable during ongoing weddingseason. RoundRead More
Turkish billet prices have continued to fall over the past week in line with the weak rebar and scrap markets, sources said on Thursday January 3.Fastmarkets' weekly price assessment for billet imports into Turkey was $405-425 per tonne cfr on Thursday, down from last week's $425-430 per tonne.The fall in the assessment came after a deal...Read More
RAPAPORT... Two Indian trade groups have agreed to promote the country'sjewelry in the United Arab Emirates (UAE). The Gem & Jewellery Export Promotion Council (GJEPC) andthe Metals and Minerals Trading Corporation of India (MMTC) have entered apartnership aimed at stimulating interest in Brand India in the Gulf country,the GJEPC said Wednesday. GJEPC chairman Pramod Agrawal met with Ved...Read More
Epiroc, a leading productivity partner for the mining, infrastructure and natural resources industries, has completed the acquisition of Fordia Group Inc., a Canadian manufacturer of exploration drilling tools.Fordia Group is based in Montreal, Canada, and has sales in more than 70 countries. It provides exploration drilling tools such as diamond bits, down-the-hole tools, drill rods and drill cas...Read More
The Diamond Producers Association (DPA), announced today the appointment of Kristina Buckley Kayel as Managing Director of its North American division.Buckley Kayel, who assumes her new role on Feb. 4, 2019, will be responsible for developing and implementing the DPA's consumer marketing and communications strategy, with a focus upon the "Real is Rare. Real is a Diamond." platform, as well as...Read More