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
The Mount Marion lithium mine in Western Australia. Source: Mineral Resources Ltd.Cobalt 27 Capital Corp. [KBLT-TSXV; 270-FSE] said Monday January 7 that it has boosted its portfolio by acquiring a lithium royalty on the producing Mount Marion Lithium Mine in Western Australia.The royalty being acquired consists of 1.5% of gross revenues and AUD$2 per tonne of ore mined under the Reed Industrial M...Read More
Cobalt metal prices continued to slide when trading got under way after the Christmas and new year holidays, with spot inquiries attracting competitive sellers in a well-supplied market.Standard and alloy-grade cobalt prices fell by 2.8% in the week ended Friday January 4. The standard-grade price was assessed at $25.75-27.25 per lb and the alloy-grade price at $25.50-27.25 per lb, both in-warehou...Read More
Turkey increased the hot-rolled coil (HRC) import duty to 6% for re-rollers from 3.5% previously, effective from January 1, 2019.The country will impose the import duty on HRC imports from re-rollers as well as tube and pipe producers. Tube and pipe producers were previously exempt from the duty discount until January 1.The duty for re-rollers was 5% until January 1, 2018, when it was reduced to 3...Read More
Share this articleTORONTO - Canada's main stock index began the first full trading week of 2019 higher as it got a push from ongoing crude oil price hikes while the loonie hit a four-week high.The S&P/TSX composite index closed up 77.51 points to 14,504.13.In New York, the Dow Jones industrial average was up 98.19 points at 23,531.35. The S&P 500 index was up 17.75 points at 2,549.69, while the N...Read More
Import prices for steel slab in Southeast Asia and East Asia narrowed downward over the past week due to lower offers and bids, amid persistent bearish sentiment and lackluster finished steel markets.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $430-435 per tonne cfr on Monday January 7, down from $430-440 per tonne cfr a week earlier.Trading ac...Read More
China's hot-rolled coil prices picked up some strength on Monday January 7 amid steady demand, with supply said to be tightening amid producers' bearish outlook for the market.DomesticEastern China (Shanghai): 3,670-3,680 yuan ($534-536) per tonne, up 30 yuan per tonneNorthern China (Tianjin): 3,600-3,620 yuan per tonne, up 40 yuan per tonneThe day's price gains were bolstered by demand from end u...Read More
Brazilian domestic steel prices were unchanged in the last month of 2018 and through the first days of 2019, with stronger foreign exchange rates in the country mitigated by the Chinese price downtrend easing somewhat.On the flat steel side, the market was steady in the first days of the year, with no price readjustments compared with the previous month. But small discounts to large-volume purchas...Read More
After a dismal 2018, Canadian stocks as tracked by the mid-cap oriented INK Canadian Insider (CIN) Index are off to a happy start in the New Year with the index advancing 1.6% in the first three trading days of 2019. With the experience of last October fresh in our minds when Canadian stocks jumped at the start of the month, only to swoon in the following weeks, we are hesitant to make too much o...Read More
China's domestic rebar prices moved up on Monday January 7 following gains in the billet and futures markets over the weekend. Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($543-550) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,650-3,680 yuan per tonne, up 30-50 yuan per tonneA notice late last Friday from the Chinese central bank regarding its decision to lower banks' reserve...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. This is our first update since Dec 17th when the INK CIN was locked in a vicious sell-off (along with many stocks and indices) and closed at 1017.93. Back then, we surmised that we were in the "throes of a capitulation-type move" but also that Canadian stocks have historically been very b...Read More
Import prices for rebar in Singapore remained stable this past week on limited interest for import cargoes.Some industry sources had also not returned to the market after the year-end holidays, resulting in thin spot trading for import material.Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis...Read More
The Turkish steel mills went quiet in the deep-sea scrap markets at the beginning of this week with the market digesting the news of purchases that were heard at the end of last week, sources said on Monday January 7.A steel producer in the Iskenderun region booked a US cargo on January 4, comprising 33,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 3,000 tonnes of shredded at $285 per tonne and...Read More
The domestic scrap price in Turkey has continued to fall over the past week, in line with the weakening imported scrap and domestic finished-steel values, sources said on Monday January 7.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,480-1,550 ($278-291) per tonne delivered on January 7, narrowing down from TRY1,490-1,590 per tonne last week.Long...Read More
Physical iron ore prices strengthened further on Monday January 7 in line with gains in futures and steel markets, after China's central bank acted to improve capital liquidity.MB 62% Fe Iron Ore Index: $73.51 per tonne cfr Qingdao, up $0.41 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.34 per tonne cfr Qingdao, up $0.41 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.30 per tonne cfr Q...Read More
Import prices for steel slab in Southeast Asia and East Asia narrowed downward over the past week due to lower offers and bids, amid persistent bearish sentiment and lackluster finished steel markets.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $430-435 per tonne cfr on Monday January 7, down from $430-440 per tonne cfr a week earlier.Trading ac...Read More
China's domestic rebar prices moved up on Monday January 7 following gains in the billet and futures markets over the weekend. Domestic Eastern China (Shanghai): 3,730-3,780 yuan ($543-550) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,650-3,680 yuan per tonne, up 30-50 yuan per tonneA notice late last Friday from the Chinese central bank regarding its decision to lower banks' reserve...Read More
The Chinese ferro-silicon market fell in the first week of January, extending losses from the week before amid poor fundamentals. Elsewhere, the European market has been quiet, but has held steady despite little trading, although increased activity is expected with dealers returning after seasonal holidays. China market drops on low demand More Chinese losses expected in the near term Europe stead...Read More
Courtesy of: Visual Capitalist Over the last five years, markets have pushed concerns about debt under the rug.While economic growth and record-low interest rates have made it easy to service existing government debt, it's also created a situation where government debt has grown in to over $63 trillion in absolute terms. The global economic tide can change fast, and in the event of a reces...Read More
By: Harris KuppermanFrom time to time, the investment world takes something as accepted wisdom and just runs with it. For whatever reason, investors seem convinced that the US Dollar is destined to go higher. I've heard lots of smart opinions why; interest rate differentials, GDP growth rate differentials, "The Dollar Milkshake Theory," "Prettiest Body in the Morgue" and the "Fear Trade." Over t...Read More
StrengthsThe best performing metal this week was platinum, up 4.05 percent, hitting a five-week high and puncturing through its 20-day moving average and is likely following gold to a higher relative valuation. Gold traders and analysts surveyed by Bloomberg have been bullish for eight consecutive weeks as the gold price heads toward $1,300 an ounce. As equity markets remain turbulent, gold is h...Read More