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 latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, Global Ore,...Read More
China's hot-rolled coil prices spiked on Wednesday January 30 despite sellers winding down ahead of the Chinese New Year break, with developments in the iron ore market providing some upward momentum.DomesticEastern China (Shanghai): 3,780-3,800 yuan ($561-564) per tonne, up 40-50 yuan per tonneNorthern China (Tianjin): 3,720-3,740 yuan per tonne, up 30 yuan per tonnePrices rose during the day wit...Read More
The seaborne coking coal market strengthened further on Wednesday January 30 amid an emergence of higher bids.Bids for branded materials on trading platform Global Coal rose to $203 per tonne fob Australia during the day, compared with $189 per tonne fob a few days ago.Meanwhile, a top Australian brand was traded at around $208 per tonne cfr China via a miner's tender, according to various sources...Read More
Do you recognize this chart?Hint: This is one of my favorite areas of the market. And it’s an opportunity we’ve talked a lot about here at The Daily Edge.If you correctly identified this as a price chart for gold, give yourself a pat on the back.Even better, if you’re actually invested in gold, you’re doing even better. Because the higher the price for gold, the more wealth...Read More
Asian ferrous scrap prices are climbing due to steel mills looking to secure more steelmaking raw materials.This is on the back of possible iron ore supply cuts by key Brazilian miner Vale, which said it was expecting a production loss of 40 million tonnes while decommissioning all its upstream dams over the next three years."Steel mills in Asia are looking to purchase more ferrous scrap in case p...Read More
The US copper price built on previous momentum with optimism growing ahead of America and Chinese trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped by 4.15 cents to $2.7665 per lb. Scheduled trade talks between the United States and China could be one reason for this, while US Federal Reserve policymakers are expected to hold intere...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday January 30 *Copper -$111.10 (-747.68 yuan) Aluminium -$354.98 (-2,388.97 yuan) Zinc -$89.45 (-601.97 yuan) Nickel -$494.85 (-3,330.23 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Nickel's three-month price on the London Metal Exchange continued its strong performance during morning trading on Wednesday January 30, moving past $12,300 per tonne for the first time since October 2018 amid a continued drawdown in LME supply. The metal's three-month price is up more than 15% from its 2018 low of $10,500 per tonne on December 31, while total LME inventory remains at its lowest l...Read More
Three-month base metals prices on the London Metal Exchange were for the most part still consolidating the gains seen at the end of last week, following weakness on Monday January 28, an up day on Tuesday, and now awaiting further direction.Three-month LME prices were up by an average of 0.2% on Wednesday morning, with the majority up between 0.1% and 0.3%, but with nickel up by 0.9% and aluminium...Read More
The following Fastmarkets minor metals prices changed on Wednesday January 30:Bismuth MB free market, $/lb: $3.70-4.10 per lb from $3.50-4.00Cobalt MB free market alloy grade, $/lb: $18.50-20.50 per...Read More
VANCOUVER - British Columbia is known for its coal and copper-gold deposits, with a storied history of mining all three commodities. Now the second largest mining company in the world is looking to add a B.C. copper porphyry deposit to its portfolio of development properties.Speaking at the opening ceremony of the Association for Mineral Exploration's Roundup 2019 convention in Vancouver, Rio Tint...Read More
VANCOUVER - Miners and explorers in British Columbia hit paydirt on Monday, with B.C. Premier John Horgan announcing that two investment-friendly tax credits would be made permanent and no longer be re-evaluated on an annual basis.Speaking at Roundup 2019, the annual meet-up organized by the Association for Mineral Exploration (AME), Horgan said his government will adopt the recommendations of the...Read More
Here we go again. With memories still fresh of Vale and BHP's deadly Samarco iron ore tailings disaster in Mariana, Brazil in November 2015 - which killed 19 people - comes news of a smaller but even more deadly tailings dam collapse at Dam 1 of Vale's Feijao iron ore mine in Brazil's Minas Gerais state during the early afternoon of Friday, Jan. 25.The tailings spilled out with no warning to bury...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday January 30:Aluminium ingotLM24 pressure diecasting ingot: ?1,415-1,465 per...Read More
Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) has drilled what it's calling an "unprecedented" intersection in a shallow, flat lying deposit at the Kamoa North exploration area on its 397-sq.-km Kamoa-Kakula mining license.The company cut 13.05% copper over 22.25 metres from 219 metres downhole at a 2% copper cut off grade in a deposit that begins 190 metres below surface. At a 5% copper cut off grade,...Read More
The US copper premium remained at a multi-year high this week, with a significant stock cancelation at the LME's New Orleans warehouses failing to nudge it even higher; the Chinese cathode market was quiet before the Lunar New Year holiday and due to a negative import arbitrage. A total of 25,000 tonnes of copper was freshly canceled in New Orleans on Tuesday and Wednesday but US premiums were un...Read More
Osisko Metals (TSXV: OM) has released new drill results from its high-grade, large tonnage and near-surface Pine Point zinc-lead deposit on the south shore of Great Slave Lake in the Northwest Territories.Highlights include 12.74 metres grading 8.07% zinc and 6.80% lead from 16.31 metres downhole; 4.35 metres averaging 11.78% zinc and 6.01% lead from 20.90 metres downhole; six metres of 10.90% zin...Read More
Prices for steel billet in Asia are likely to come under greater pressure in 2019 with demand for it as well as downstream long steel products expected to stay subdued amid an impending surge in new supply, sources told Fastmarkets MB."Regional demand is weak, so there is not enough room for everyone," a Vietnam-based trader said, referring to a string of new billet production capacity set to come...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftGolden Mile positioned for successSPONSOREDgolden mile resourcesCardinal advances at pace in Ghana SPONSOREDcardinal resourcesRevised Leonora PFS is next for KinSPONSOREDkin miningThere are times as a parent, in particular the parent of a teenage boy, when we simply have to accept the realit...Read More
A partnership of First Nations, exploration companies and provincial government representatives is working well, as the three groups work collaboratively to progress mineral exploration and mining in northwest British Columbia.That was the message behind a panel discussion Tuesday at Roundup 2019, inside the Pan Pacific Hotel in Vancouver.The four-day annual event is a chance for mineral explorers...Read More