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
Global steelmaker ArcelorMittal reported an 8.9% year-on-year decrease in its worldwide earnings in the fourth quarter of 2018 on Thursday February 7.The company's quarterly earnings before interest, taxes, depreciation and amortization (Ebitda) dropped to $1.95 billion in October-December 2018, down from $2.14 billion in the corresponding period of 2017. The decrease was driven by reduced shipmen...Read More
RAPAPORT... Thieves have broken into a bank vault near Antwerp's diamonddistrict, with some clients in the dark about whether their goods have beenstolen. Daring burglars entered the BNP Paribas Fortissecure area via a sewage pipe on Sunday, emptying about 30 deposit boxes,according to local media. The bank and local police couldn't say whether any diamondswere stolen. Clients were lining up at t...Read More
Aim-listed BlueRock Diamonds has recovered an exceptional 8.97 ct diamond at its Kareevlei mine, in the Kimberley region of South Africa.This will be the third diamond to be recovered at Kareevlei that is independently valued at more than $50 000.AdvertisementA diamond weighing 7.76 ct was recovered in 2017 and sold for $10 070 /ct and a diamond weighing 10.58 ct was recovered in 2018 and sold for...Read More
RAPAPORT... Danish jeweler Pandora expects revenue to fall 3% to 7% this year, after weak results in 2018 prompted an overhaul of its brand and marketing activities. "We are taking immediate and forceful action to address thedisappointing aspects of our financial performance in 2018," Pandora chief operatingofficer Jeremy Schwartz said Tuesday. "We are confident that this company-widebusines...Read More
Steel billet import prices in Egypt increased this week with deals being agreed at higher levels, sources told Fastmarkets on Thursday February 7.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $460-470 per tonne cfr on Thursday, rising from $450-455 per tonne cfr last week.Billet producers in the CIS were offering material to Egypt at $470-480 per tonne cfr. This com...Read More
RAPAPORT... Sales grew at Firestone Diamonds in the second fiscal quarter as stronger volumes outweighed a lower average price, the miner reported Monday. Proceeds from rough sales at the company's Liqhobong mine inLesotho increased 11% year on year to $13.9 million for the period endingDecember 31, according to Rapaport calculations. Sales volume rose 22% to191,735 carats, with the miner ach...Read More
RAPAPORT... Revenue and profit at Titan Company rose in the third fiscalquarter, driven by the introduction of new jewelry lines in time for the festivalseason. Consolidated sales - including subsidiaries - jumped 35% yearon year to INR 59.34 billion ($830.4 million) in the three months endingDecember 31, while profit climbed 46% to INR 4.11 billion ($57.5 million), theIndian company said las...Read More
Seaborne iron ore prices remained flat on Thursday February 7 on continued muted trading amid a week-long public holiday in China. MB 62% Fe Iron Ore Index: $85.53 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $86.37 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $87.32 per tonne cfr Qingdao, unchanged. MB 58% Fe Premium Index: $78.74 per tonne cfr...Read More
The seaborne coking coal spot market was largely stable on Thursday February 7 despite the emergence of supply concerns in Queensland, Australia, following closure of ports in the country. Abbot Point Coal Terminal closed earlier on in the week due to flash flooding and land slips in North Queensland, Australia, it said on Thursday February 7. Abbot Point shipped 1.8 million tonnes of coal - inclu...Read More
Operations at Abbot Point Coal Terminal have been closed due to flash flooding and land slips in North Queensland, Australia, the terminal operator confirmed on Thursday February 7, with market participants also flagging potential disruptions at the state's other coal terminals. "Operations at Abbot Point Port were suspended early this week due to the extreme weather, which made it unsafe for empl...Read More
The environmental secretariat of Brazil's southeastern Minas Gerais state, Semad, has suspended a license granted in 2015 for Vale to operate the Laranjeiras tailings dam, connected to the Brucutu iron ore mine.The decision follows a court ruling that ordered the suspension of the Brucutu mine, according to Vale, and it makes any restart of the mine's operations more difficult."The resumption of t...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipMachine Learning drives exciting new feature for PitramSPONSOREDmicromineGolden Mile positioned for successSPONSOREDgolden mile resourcesIt said South32's $1 million was in addition to the $30 million the ASX-listed miner had already paid to maintain the option to form a 50/50...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Equity index futures were virtually unchanged following release of the Weekly Jobless Claims report. Consensus was a drop to 220,000 from 253,000 last week. Actual was 233,000.BB&T Banks (BBT $48.53) has offered to buy SunTrust Banks (STI $58.74) in an all-stock deal valued at $66 b...Read More
Machine Learning drives exciting new feature for PitramSPONSOREDmicromineGolden Mile positioned for successSPONSOREDgolden mile resourcesCardinal advances at pace in Ghana SPONSOREDcardinal resourcesRevised Leonora PFS is next for KinSPONSOREDkin mining"If you're thinking about going to the bathroom, don't, because we're going to make an announcement in the middle of this presentation," Friedland...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for fourth quarter U.S. Productivity was growth at a 1.6% annual rate versus growth at 2.3% in the third quarter. Actual was growth at a 1.3%. Consensus for U.S. November Trade Deficit was $54...Read More
Copper's three-month price on the London Metal Exchange continued on an upward trend at the close of trading on Wednesday February 6, maintaining its strong advance toward a price of $6,300 per tonne amid low liquidity because of a national holiday in China.Volumes traded were moderate over the day, with copper's 12,936 lots topping the complex. The metal also benefitted from a fresh cancelation o...Read More
The US copper market saw continued buying strength in morning trading on Wednesday February 6 with industry participants awaiting upcoming global trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 2.55 cents to $2.8425 per lb. "Senior US and Chinese officials are expected to start another round of trade talks in Beijing next week, wi...Read More
A crucial theme from last year is continuing into this year - stock buybacks. Last year was a banner year for companies buying back their own shares. A month into 2019, it appears that Wall Street is set to continue that trend.Last year, U.S. companies announced a whopping $1.1 trillion worth of buyback plans. Armed with extra cash from favorable corporate tax policy enacted in 2017, they enthusia...Read More
The following Fastmarkets minor metals prices changed on Wednesday February 6:Minor metalsCobalt MB free market alloy grade, $/lb: $17.80-20.00 per lb from...Read More
Key data from the Wednesday February 6 pricing session in Europe.Key drivers-The European ferro-titanium market extended a steady trend in prices for the fourth week in a row. Trading activity was reported as being low key, with prices held in their current range for both alloy and scrap, although there have been some reports of slightly higher and lower numbers in scrap.-Some industry s...Read More