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
US titanium producer Global Titanium, which is based in Detroit, Michigan, has suffered no impact to production after a fire at its plant earlier this month.The company, which has the capacity to make 10,000 tonnes per year of 70% grade (Ti) alloy and is one of the biggest ferro-titanium producers in the world, said the impact of the fire had only slowed production of fines. The fire on January 3...Read More
Solgold CEO, Nick MatherSolGold [SOLG-TSX, LSE] said Thursday it is planning to make an offer to acquire all the outstanding shares of Cornerstone Capital Resources Inc. [CGP-TSX, CTNXF-OTC, GWN-F].If the offer succeeds, holders of Cornerstone who tender their shares to the offer will receive 0.55 of a SolGold share in exchange for every Cornerstone share tendered, SolGold said.However, readers of...Read More
Diamond drilling on the Moosehead gold project in central Newfoundland. Source: Sokoman Iron Corp.Sokoman Iron Corp. [SIC-TSXV] emerged as the volume leader on the TSX Venture Exchange Thursday after the company released final assays from phase two drilling on the Moosehead Gold Project in north-central Newfoundland.However, investors reacted to those results by sending the shares down 38% or $0.0...Read More
Comex copper prices moved higher on Thursday morning in the United States, with an improving macroeconomic backdrop lifting the entire base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose 2.25 cents to $2.79 per lb. "The improved macroeconomic backdrop has provided risk sentiment with a good bullish vibe, allowing the red met...Read More
Choco 10 MineRusoro Mining Ltd. [RML-TSXV] shares tumbled in heavy trading Wednesday following news of an unfavourable court decision related to a US$1.2 billion arbitration award that followed the expropriation of mining properties in Venezuela.Rusoro said the Paris Court of Appeals, in a decision dated January 29, 2019, has partially annulled the arbitral award issued in favour of the company in...Read More
Vale SA, the world’s largest iron ore miner, has vowed to sacrifice production for safety to avoid another tailings dam failure. (Image: Screenshot from BBC News video.)Analysts have begun to weigh the consequences of a deadly tailings dam breach at a Brazilian mine operated by Vale SA [VALE-NYSE], the world's largest producer of iron ore and nickel.The Brumadinho dam breach, which occurred...Read More
A dovish US Federal Reserve stance, a weaker dollar and a firmer Chinese yuan, which may indicate confidence in US-China trade talks, are all helping to underpin the three-month base metals prices on the London Metal Exchange this morning, Thursday January 31.Lead and zinc prices led on the upside with gains of 0.6% and 0.5% respectively,followed by rises of 0.4% in tin, 0.3% in aluminium, 0.2% in...Read More
Gold futures marked their highest finish since mid-May on Wednesday, stretching their win streak to the longest in a month. Prices continued to move up in electronic trading after the Federal Reserve left interest-rates unchanged and said it would be "patient" on its next rate move. Shortly after the Fed decision, the most-active April gold contract GCJ9, +0.02% climbed to $1,321.40 an ounce in el...Read More
* Copper cancelled warrants help boost prices * Zinc touch 3-month high, nickel touches 4-month high (Updates with closing prices)By Pratima DesaiLONDON, Jan 31 (Reuters) - Copper prices hit seven-weekhighs on Thursday as the dollar slipped after the U.S. centralbank signalled further interest rate rises could be shelved, butgains were capped by shrinking activity in China's manufacturingsector.Be...Read More
Today, the Honourable Greg Rickford, Minister of Energy, Northern Development and Mines, issued the following statement on the East-West Tie Line Project:"Ontario's Government working for the People has taken decisive action to designate NextBridge as the transmitter to build a 450-kilometer, double-circuit transmission line from Thunder Bay to Wawa, known as the East-West Tie Line Project, to ens...Read More
Domestic prices for hot-dipped galvanized (HDG) coil in Europe resumed their downward trend this week, but have now "reached the bottom," sources told Fastmarkets.Market participants said that prices moved down this week on slow trading because buyers have sufficient stocks.Demand, however, is expected to improve due to the restocking that is expected to start in February."Buyers will be maki...Read More
China's hot-rolled coil prices were unchanged on Thursday January 31, with few participants still active in both the domestic and export markets ahead of the Chinese New Year holiday next week.DomesticEastern China (Shanghai): 3,780-3,800 yuan ($563-566) per tonne, unchangedNorthern China (Tianjin): 3,720-3,740 yuan per tonne, unchangedA Shanghai-based trader said that his company sold a very smal...Read More
They say it'll generate $3.1 billion a year in sales.I think it'll be more.According to the comptroller of New York, cannabis sales in the Empire State will exceed $3 billion a year after the legalization of recreational cannabis.And if you haven't been paying attention, New York is on the cusp of legalization.During his inaugural address, Governor Andrew Cuomo pledged to legalize cannabis. He eve...Read More
Golden Rim Resources Limited (ASX: GMR), is an emerging West African gold developer, focused on its near term Kouri Gold Project, located in north-east Burkina Faso. The Kouri Gold Project contains 1.4Moz in defined Mineral Resources, with significant upside potential to grow. We learned from Craig Mackay, Managing Director of Golden Rim Resources, that they are in the process of acquiring more la...Read More
Domestic prices for hot-rolled coil (HRC) in Europe have moved down slightly over the week due to slow trading, sources told Fastmarkets."Demand is weak as buyers have enough material in stocks," a Northern European source said.In the meantime, import offers of the material have increased, mainly due to higher prices for HRC in Turkey where steelmakers increased their offers due to highe...Read More
OPEC is imploding day by day.Right now, no other catalyst weighs heavier on the 14-member oil cartel than the collapse of Venezuela's oil industry.I wish I could tell you that nobody saw this coming.Truth is, everyone did.We've seen the writing on the wall for more than a decade... ever since Hugo Ch??vez seized all oil assets held by major oil players like ExxonMobil and ConocoPhillips.This was t...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 31 that are worth another look.United States President Donald Trump strengthened Buy America requirements for infrastructure in an executive order on Thursday January 31, in a potential boost to domestic iron, steel and aluminium industries, among others. Lawmakers in the United States have introduced legislat...Read More
I haven't been this popular since I lived slope-side at a ski resort in Colorado. Despite the fact that I was a ski bum living in a studio apartment, Navy, high school, and college buddies traveled great distances to stay with me.Back then, I had dreams of making a living with Warren Miller. Today, my popularity has to do with puppies. I'm at that age where my offspring are seeking fulfillment in...Read More
There is a clear and well-established hierarchy of metals.And if you've ever participated in or even seen any sport or competition, you've seen an example of this ranking system:We give bronze medals for third place, silver for second, and gold for first.Why is that?Well, in short, it's an expression of real and perceived values inherent to each of the metals, including their chemical properties,...Read More
Steel billet import prices in Egypt increased this week on higher offers, and the market is expecting rebar prices to increase as well, sources told Fastmarkets on Thursday January 31.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $450-455 per tonne cfr on Thursday, rising from $425-440 per tonne cfr last week.Billet producers in the CIS were offering material to Egy...Read More