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
RAPAPORT... Alrosa noted strong sales in December as buyers sought goods to replenish their stocks. Proceeds increased 38% year on year to $328.7 million, the miner said Friday. Rough-diamond sales rose 42% to $323.7 million, while polished revenue dropped 47% to $5 million, according to Rapaport calculations. Sales value was also 20% higher than in November due to a "flexible pricing policy,...Read More
Indonesia's Gresik 300,000 tpy copper smelter has yet to resume full operations after an earlier maintenance shutdown caused by an oxygen plant issue, Fastmarkets has learned. "The oxygen plant, which is operated by the third party has resumed, but not reached full operations. Therefore, although Gresik smelter has partially resumed since the middle of December 2018, it has not returned normal ope...Read More
The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More
China's exports of unwrought aluminium and aluminium products increased by 19.8% in December 2018 compared with December 2017, but down 0.6% from November 2018, according to preliminary Chinese customs data.China exported 527,000 tonnes of unwrought aluminium and aluminium products in December, a 87,000-tonne increase from the same month of 2017 and 3,000 tonnes less than in November 2018, customs...Read More
An economic slowdown in China, consumer of about half the world's commodities, is the single biggest challenge for the mining and metals sector in 2019. (Image courtesy of Liebherr.)A worsening of the ongoing economic slowdown in China, consumer of about half the world's commodities, is the single biggest challenge mining and metals companies face this year, a new survey of senior executives shows...Read More
European steel association Eurofer is concerned that the definitive measures in the European Commission's safeguard case against steel product imports will not be enough to protect the region's markets from material redirected from the United States."While we welcome this endorsement, we are nevertheless worried that the form of the final measures may undermine their intended safeguarding function...Read More
The number of new passenger car registrations in the EU decreased 8.41% year-on-year in December 2018, the European Automotive Manufacturers Association (ACEA) said on Wednesday January 16.New car sales in Europe totaled 998,503 units in December 2018, compared with 1,090,190 vehicles sold in the corresponding month of 2017."The EU passenger car market declined for the fourth month in a row. Last...Read More
Three-month base metals prices on the London Metal Exchange exhibited mixed movements while consolidating this morning, Thursday January 17. Copper, nickel, lead and zinc were down by between 0.1% and 0.5%, while aluminium and tin prices were up by 0.3% and 0.4% respectively. The three-month copper price was off by 0.1% at $5,973 per tonne.Volume across the LME base metals complex was above averag...Read More
The Turkish billet markets remained weak over the past seven days due to limited demand, sources said on Thursday January 17.Fastmarkets' weekly price assessment for domestic billet in Turkey was $416-425 per tonne ex-works, slightly widened down from last week's $420-425 per tonne.Long steel producer Kardemir opened its domestic billet sales at...Read More
Domestic rebar and wire rod prices in Turkey have continued to weaken in line with the poor demand over the past seven days, sources told Fastmarkets on Thursday January 17.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,800-2,830 ($519-525) per tonne ex-works on Thursday, down from last week's TRY2,880-2,930 per tonne, including 18% VAT.The local rebar price in...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe company, which produces copper concentrates from fresh and historic tailings at Codelco's El Teniente mine, said it set new production records in 2018 at Minera Valle Central.Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe majority investor, which had in recent months bolstered its Hudbay position to 11.9%, said it was embarking on its first proxy fight to address Hudbay's chronic underperformance.Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. Index futures recovered slightly following release of economic news at 8:30 AM EST. Consensus for the January Philly Fed Manufacturing Index was an increase to 10.0 from 9.1 in December. Actual was 17.0. Consensus for Weekly Jobless Claims was 220,000 versus 216,000 last week. Actual was...Read More
Turkish steel producers have resumed their deep-sea scrap purchases for January-February at higher prices, sources said on Thursday January 17.Suppliers were seeking higher prices for their scrap because of the rise in collection costs during the difficult winter season, sources said.A steel producer in the Marmara region booked a Canadian cargo, comprising 17,000-20,000 tonnes of HMS 1&2 (90:10),...Read More
Physical iron ore buying was lackluster on Thursday January 17, despite fixed-price seaborne cargoes of Pilbara Blend fines trading at higher prices.MB 62% Fe Iron Ore Index: $74.55 per tonne cfr Qingdao, up $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.20 per tonne cfr Qingdao, up $0.75 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.92 per tonne cfr Qingdao, down $0.13 per tonne...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreRio Tinto, Global Ore, 190,000 tonnes of 62% Fe Pilbara Blend fines, traded late...Read More
Prices on a cfr China basis in the seaborne coking coal market picked up on Thursday January 17 following the emergence of some optimism among traders in the country.A cargo of premium mid-vol hard coking coal scheduled for loading in February was traded around $191-192 per tonne cfr China a day earlier, various sources told Fastmarkets MB during the day. This is $1-2 per tonne higher than the pre...Read More
PRIVATE BLOG – Gold into FebruaryPrivate blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
The import price for steel billet in Southeast Asia edged down on Thursday January 17 amid lower bids from buyers who expect further price drops, although trading activity has picked up in the region this week.Fastmarkets' daily import price assessment for billet in Southeast Asia was $445-448 per tonne cfr Manila on Thursday, narrowing downward by $2 per tonne on the high end from $445-450 per to...Read More
QUESTION: RE: ….& Coming Barter System.So, are you suggesting that we may see a shift to Silver by private individuals as the only way to sidestep Government stupidity, or will it be even worse, like trading whiskey for toilet paper??TWEANSWER: Assuming government attempts to follow the IMF’s advice and create cryptocurrencies to replace paper money, then the only alternativ...Read More