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 seaborne coking coal market remained in a slump on Wednesday January 9, sources told Fastmarkets.Some 25,000 tonnes of a mid-vol premium coking coal traded around $196-197 per tonne fob Australia.A southern Chinese mill source attributed the pessimism in the market to "poor car sales and weakness in the real estate sector"."For every transaction done, the next [trade] will be even lower like r...Read More
Demand for ferrous scrap in some Asia markets was higher mid-week because South Korea and Vietnam were actively seeking import cargoes from the United States and Japan.A major South Korean steel mill booked a 32,000-tonne scrap cargo from the United States on Monday January 7 based on a price of $311 per tonne cfr for heavy melting scrap 1. It paid $316 per tonne, or a $5 per tonne premium, for 29...Read More
China's ferrous futures largely rose during morning trading on Wednesday January 9, with only the iron ore contract dipping slightly.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,541 yuan ($516.50) per tonne, up 30 yuan per tonneMay hot-rolled coil: 3,442 yuan per tonne, up 24 yuan per tonneDalian Commodity Exchange May iron ore: 514.50 yuan per tonne, down 0.50 y...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. The Canadian Dollar gained 0.19 to 75.53 cents U.S. prior to the Bank of Canada's statement on monetary policy at 10:00 AM EST. No change in the overnight lending rate to major banks is anticipated.Restaurants International (QSR $54.54 U.S.) is expected to open higher after Sun Trust ini...Read More
ALX Uranium (TSXV: AL) and Denison Mines (TSX: DML) announced today they've just launched a winter diamond drilling program at the Hook-Carter uranium project located in the southwestern Athabasca Basin of Saskatchewan, Canada.The project, which is owned 80% by Denison and 20% by ALX, consists of 80 claims covering 24,229 hectares and is located approximately 375 kilometres northwest of the town o...Read More
Base metals on the London Metal Exchange were higher across the board during morning trading on Wednesday January 9, following positive sentiment in Asian markets while US-China trade talks and a continued softening of the US dollar index support upward price action. Copper's three-month price was the best performer over the morning session, climbing 1.3% and reaching an intraday high of $6,007.50...Read More
The chairs of seven committees in the House of Representatives requested that the US Treasury Department delay the termination of sanctions against UC Rusal.In a letter written to Secretary of the Treasury Steven Mnuchin on Tuesday January 8, the Chairs said there are a number of additional questions to be answered surrounding the sanctions being removed and requested a meeting to discuss the issu...Read More
China's hot-rolled coil market was largely stable on Wednesday January 9 amid robust downstream demand, with some companies starting to restock ahead of the Chinese New Year in early February.DomesticEastern China (Shanghai): 3,660-3,670 yuan ($534-535) per tonne, narrowing downward by 10 yuan per tonneNorthern China (Tianjin): 3,620-3,630 yuan per tonne, narrowing downward by 20 yuan per tonnePri...Read More
China's domestic rebar prices dropped slightly on Wednesday January 9 on softening winter demand.Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($543-548) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,640-3,680 yuan per tonne, widened down 10 yuan per tonneRebar traders cut prices slightly amid continued weakness in demand even though both billet and futures prices tick...Read More
The case for a pending financial collapse is well grounded. Financial crises occur on a regular basis including 1987, 1994, 1998, 2000, 2007-08. That averages out to about once every five years for the past thirty years. There has not been a financial crisis for ten years so the world is overdue. It's also the case that each crisis is bigger than the one before and requires more intervention by th...Read More
Key data from the Wednesday January 9 pricing session in Europe.Key driversThe market has been quiet during the first week of the calendar year, with only a small drop in ferro-titanium prices, while the price of scrap was stable. Liquidity is expected to increase throughout January.Around 110 tonnes was reported traded between $4.30 per kg and...Read More
Today, additional evidence that recession - or worse - is in sight.But first, it appears the "Powell put" may extend the countdown clock…Since Jerome Powell's dovish comments on Friday, the Dow Jones has been up and away... as an addict thrills to the promise of additional stimulant.It leaped another 256 points today.Both S&P and Nasdaq have been similarly seduced.The S&P ended the d...Read More
The following Fastmarkets minor metals prices changed on Wednesday January 9:Minor metalsCobalt MB free market alloy grade, $/lb: $24.50-26.25 per lb from $25.50-27.25Cobalt MB free market standard grade, $/lb: $24.75-26.25 per lb from $25.75-27.25Cobalt MB China domestic, yuan/tonne: 335,000-355,000 yuan per tonne...Read More
Fastmarkets will launch two new manganese ore China port indices on a free-on-truck (fot) basis on Friday January 11.The new indices will be based on ores with manganese ore content of 37% and 44%, respectively.Based on market feedback after a one-month consultation period, Fastmarkets will launch the new indices to better reflect conditions in the Chinese market. China is the world's biggest buye...Read More
Three-month base metals prices on the London Metal Exchange were stronger across the board by an average of 0.6% this morning, Wednesday January 9.Tin led the way with a 1% gain and is back over $20,000 per tonne and has an impressive double bottom in place on the chart, with lows in August and November. Lead, zinc and aluminium were all up by around 0.8%, copper was up by 0.4% at $5,959 per tonne...Read More
Asian steel markets are in for another tumultuous year judging by the rate at which new developments are expected to spring up in 2019.China remains the center of interest, and rightly so, because its economic and governmental policies have cascading effects on the international steel market.While its progressive economic policies have served it well in sustaining its domestic steel sector in the...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 9:Aluminium scrapGroup 1 pure 99% &...Read More
The Shanghai copper premium rose from its lowest in more than a year because of a narrowing negative import arbitrage for bringing units into China that made buying more attractive.The nearby LME forward curve switched to a solid contango as well, firming up sellers' positions globally. Shanghai cif premium rises by $3 per tonne from last Monday; bonded warehouse premium up by $5 LME cash/three-mo...Read More
Mahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsSustained investment in people a big plus for consultancySPONSOREDbyrnecutWell, another one bites the dust.Read More
Colorado School of Mines has named Richard C. Holz its next provost. Holz is currently dean of the Klingler College of Arts and Sciences at Marquette University and will join Mines in June 2019.As provost, Holz will serve as Mines' chief academic officer, responsible for leading the faculty and staff to achieve the vision for the university's academic programs. He will work closely with President...Read More