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
A retired Brazilian Army officer who recently advised Canadian miner Belo Sun (TSX: BSX) about its plans to mine gold in the Amazon, will head the country's Indigenous Rights Agency (Funai) aiming at using his experience in the sector to deal with hundreds of impending clashes between miners and locals.Native descendant General Franklimberg Ribeiro de Freitas had run Funai until April 2018, but wa...Read More
ArcelorMittal Brasil is currently designing a long-term strategic plan until 2030 with a possibility that it would include an expansion to its flat-rolling capacity in Tubar??o, local chief executive officer Benjamin Baptista said on Friday January 18.The company owns roughly 13.5 square kilometers of land in Tubar??o, the name of the unit located in Serra, a city in the southeast Brazilian state...Read More
Likely Shadary win in DR Congo threatens further squeeze on miners' profitsSPONSOREDverisk maplecroftAlderan unlocking Frisco potentialSPONSOREDalderan resourcesRhyolite Ridge PFS beats expectationsSPONSOREDioneerElement 25 targeting clean entry into high-growth marketSPONSOREDelement 25Pilbara iron ore shipments for 2018 came in at 338.2 million tonnes, 2% higher than 2017 and at the upper en...Read More
Some steel coil prices in Turkey fell this week on continued slow demand because buyers are waiting for prices to reach a bottom, sources told Fastmarkets on Friday January 18.Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated, when Turkish lira lost value against the US dollar after US president Donald Trump's administratio...Read More
Coated steel prices in Turkey were stable in the week to Friday January 18, with demand expected to improve because of low stock levels.Buying has been slow for some time, so buyers will have to place bookings soon, sources told Fastmarkets.Domestic pricesOne producer in northern Turkey was offering 0.5mm hot-dipped galvanized coil (HDG) at $640 per tonne ex-works, while a...Read More
RESOURCEStocks: Element 25 expects to complete about 7,000m of infill drilling (200 holes) on the Yanneri Ridge deposit at Butcherbird in Western Australia by the end of November, which will feed into a revised resource estimate (January 2019), and also the planning for a starter pit in an area with a maiden reserve being incorporated in the project PFS. What can you say at this stage about what i...Read More
Pig iron exporters from the south of Brazil cut prices lower to sell a cargo to the United States, Fastmarkets learned on Friday January 18.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region was $310-312 per tonne fob on January 18, narrowing downward from $310-320 per tonne fob a week before.Some 27,000 tonnes of pig iron with 0.15% phosp...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 added 0.15 to 75.54 following release of the December Consumer Price Index. Consensus was a year-over-year increase of 1.8% versus 1.7% in November. Actual was 2.0%.Netflix dropped $11.21 to $341.98 after reporting less than consensus fourth quarter revenues. Target on...Read More
UK ferrous scrap prices for deliveries in January have dropped by ?15-20 ($19-26) per tonne, depending on grade, due to persistent weakness in export prices to the key destination of Turkey, trade sources told Fastmarkets on Friday January 18.The move followed a uniform price drop of ?20 per tonne in December settlements, after a rollover for two consecutive months.European export prices to trad...Read More
Alloy steel scrap prices were influenced a range of factors in the week ended Friday January 18, including divergent pricing trends for key alloy components, poor demand and changing currency values.The result of this was that scrap price developments have shown mixed fortunes.Demand from mills remained poor and buying mills held the advantage in price negotiations, and this put downward pressure...Read More
The price of shredded ferrous scrap imported into India was stable this week, with deals done at prices similar to last week, market participants said on Friday January 18.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $318.73 per tonne cfr Nhava Sheva on January 18, little changed from $319.24 per tonne cfr Nhava Sheva on January 11.There were five deals for...Read More
The Turkish steel mills have continued to book deep-sea scrap but at a slow pace, with prices largely stable, sources said on Friday January 18.A steel producer in the Izmir region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $283 per tonne and 5,000 tonnes of shredded at $288 per tonne cfr."The mills are trying...Read More
Seaborne iron ore prices went up on Friday January 18 with Chinese steel mills stockpiling material ahead of the upcoming Chinese new year holiday.MB 62% Fe Iron Ore Index: $75.70 per tonne cfr Qingdao, up by $1.15 per tonne.MB 62% Fe Pilbara Blend Fines Index: $76.54 per tonne cfr Qingdao, up by $1.34 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $76.88 per tonne cfr Qingdao, up by $0.96 per to...Read More
The annual edition of The Economist's Intelligence Unit Democracy Index is out.Across several democratic categories nations are ranked. These include but are not limited to:Civil liberties... the functioning of government... political participation… electoral process... pluralism... and political culture.Where does the United States rank among the nations of the Earth?Is it the most democr...Read More
Copper, zinc and lead stocks on the Shanghai Futures Exchange were up week on week on Friday January 18 in a quiet trading week in China, while aluminum, nickel and tin stocks fell. Deliverable zinc stocks at SHFE-approved warehouses rose by 9.25% or 2,492 tonnes to 29,434 tonnes in the week to Friday. Shanggang Logistic had 3,495 tonnes of zinc delivered into its warehouse, an increase of 300% or...Read More
Today marks the 27th day of the government shutdown.In total, 800,000 Federal employees missed their first paychecks last week. And another 1.2 million government contractors are also estimated to be missing paychecks as well.That’s 2 million Americans currently out of work and not collecting paychecks!This boils down to a large portion of America’s middle class at risk of missing mort...Read More
The S&P recently tumbled 19.8% before finding its legs - coming within an ace of the official 20% defining a bear market.Bet let us declare it a bear market and have done.Based on history's telling, when can you expect stocks to recapture their early October 2018 highs?A) 11.4 monthsB) 1.6 yearsC) 3.2 yearsD) 5.7 yearsThe answer shortly.But first a progress report...The Dow Jones marched 164 p...Read More
Growing optimism for a US-China trade agreement has prompted London Metal Exchange base metals prices to consolidate higher across the board in morning trading on Friday January 18, with zinc's 1.3% increase leading the charge. Zinc's three-month price recently traded at $2581.50 per tonne, up 1.3% from Thursday's close. The climb in the metal's futures price comes after volatile price action last...Read More
Today we bear dramatic news:Markets have entered a "phase transition zone"… the "magic space between order and chaos."This we have on the authority of the brains at Fasanara Capital.But what will emerge on the other side - order or chaos?Today our mood is heavy, our brow creased with thought... as we hunt the answer.We begin with a hypothesis:Since the financial crisis, central banks have ac...Read More
Seaborne coking coal prices were up on Friday January 18, with supply concerns emerging during the day on news of disruption to operations at Abbot Point port in Queensland, Australia, market sources said. Safety-related incidents had led to suspension of operations at two berths at the Abbot Point coal terminal, sources said. The port operator, however, could not be reached for comment at the tim...Read More