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 trend over the next four weeks in gold and silver could be the trend for the rest of the year. In Asia, local currency price moves will be a far bigger factor (than gold in US dollar) over other themes. Winner will be the ones who are correctly able to determine to trend of the local currency trend. It is not easy to determine the long term trend of Indian rupee as we have an election. India...Read More
The Chinese antimony market was lackluster amid thin trading activity in the week ended Friday February 15, the first working week after the national Lunar New Year break on February 4-10, while China's absence was echoed in stagnant European prices. In China, Fastmarkets assessed the price for MMTA standard-grade II antimony, delivered duty-paid, at 48,500-49,500 yuan ($7,158-7,306) per tonne on...Read More
The antimony and gold processing facility being built in Sohar, Oman, by Strategic & Precious Metals Processing (SPMP) is facing new delays due to a technical issue with the refractory lining, Tri-Star Resources said on Monday February 18.Although some liquid metal has already been produced in the reduction furnace at SPMP's antimony and gold facility, it has not been possible to tap metal from th...Read More
The Turkish scrap import markets remained silent at the beginning of the week because mills had failed to sell billet or rebar to customers in Southeast Asia, sources said on Monday February 18.Market sentiment was generally negative and participants were expecting prices to soften due to the sluggish demand reported by Turkish producers."There were Baltic Sea suppliers offering HMS 1&2 (80:20) at...Read More
Domestic scrap prices have increased in Turkey over the past week due to the rise in imported scrap costs, sources said on Monday February 18.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,680-1,820 ($319-345) per tonne delivered on February 18, up from TRY1,660-1,810 per tonne last week.A number of steel mills and a major scrapyard have increase...Read More
The three-month base metals prices traded on the London Metal Exchange were mixed on the morning of Monday February 18. Zinc prices led the decline with a 0.9% drop to $2,639 per tonne from $2,664 per tonne on Friday's close, followed by lead prices that were down by 0.6% at $2,065 per tonne from $2,077 per tonne, and nickel prices that dropped by 0.3% to $12,380 per tonne from $12,415 per tonne....Read More
You might remember this scene from the 1967 comedy-drama classic The Graduate:Mr. McGuire: I want to say one word to you. Just one word.Benjamin: Yes, sir.Mr. McGuire: Are you listening?Benjamin: Yes, I am.Mr. McGuire: Plastics.The first plastics were invented over 100 years ago. But it wasn't until WWII that plastics really became an important part of society.Up until that point, fabricators didn...Read More
Anaconda Mining Inc. (TSX: ANX, OTCQX: ANXGF) is a growing gold producer in Atlantic Canada. Anaconda Mining operates the Point Rousse Project, located in the Baie Verte Mining District in Newfoundland, and is also developing the Goldboro Gold Project in Nova Scotia, a high-grade Mineral Resource, subject to a 2018 preliminary economic assessment, which demonstrates strong project economics. We le...Read More
Murchison Minerals Ltd. (TSXV: MUR) is a Canadian based exploration company, focused on the exploration and development of the 100% owned Brabant-McKenzie zinc-copper project, located in north-central Saskatchewan, right next to the highway, an existing village, and power lines. We learned from Jean-Charles (JC) Potvin, President and CEO of Murchison Minerals, that they have just recently tripled...Read More
Key data from the February 15 pricing session in London. Key driversStock overhang, particularly of cut cathode, means cobalt prices continue to slump, despite the news that ERG has suspended production at Chambishi. The differential between standard and alloy-grade cobalt prices continues...Read More
Flat steel import prices went up in South America in the latest price assessments, with rises imposed by mills in China and the Commonwealth of Independent States (CIS) being passed through to customers.Fastmarkets assessed the import price of hot-rolled coil (HRC) in South America at $540-550 per tonne cfr on February 15, up from $525-540 per tonne the week before. The import price of cold-rolled...Read More
Export prices for flat steel from the Commonwealth of Independent States (CIS) have increased further because material availability was lower than the level of demand, source told Fastmarkets on Monday February 18.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $520-530 per tonne fob Black Sea on February 18, up by $20 per tonne week on week.Russia-origin H...Read More
Import prices for steel slab in Southeast Asia and East Asia maintained their upward momentum over the past week amid scarce offers, while trading activity remained thin.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on Monday February 18, up $10-15 per tonne from a week earlier.The regional market remained consistently quiet, wi...Read More
CIS export prices for rebar and wire rod continued to rise in the week ended Monday February 18, following the increase in global billet prices seen last week as well as higher export offers for long steel from Turkey.But customers refrained from making new bookings because they considered the offers for CIS material to be too high.In particular, rebar offers from Ukraine were heard at $495-500 pe...Read More
The Dubai customs authority in the United Arab Emirates has changed the list of long steel products subject to 10% import duty, it announced on Sunday February 17.Dubai customs increased the import duty on some rebar and wire rod products to 10% from the previous standard rate of 5%. The original list of products subject to 10% duty had only been in effect since January 17 this year.The Gulf Co-op...Read More
China's domestic rebar prices were flat on Monday February 18 on weak demand despite the futures market bouncing back.Domestic Eastern China (Shanghai): 3,700-3,750 yuan ($546-553) per tonne, unchanged Northern China (Beijing): 3,790-3,830 yuan per tonne, unchangedDemand from the construction sector was soft due to bad weather. A weakening of the billet market also put pressure on rebar prices, wh...Read More
By: Clive MaundGold has been turned back so many times in recent years from the strong resistance approaching the $1400 level, that most investors have now been well trained, like Pavlov's dog, to expect it like clockwork, and as we know, it is just when this mindset prevails that gold is likely to surprise the majority by actually breaking out above this level.Looking at our latest 10-year char...Read More
The Turkish scrap import markets remained silent at the beginning of the week because mills had failed to sell billet or rebar to customers in Southeast Asia, sources said on Monday February 18.Market sentiment was generally negative and participants were expecting prices to soften due to the sluggish demand reported by Turkish producers."There were Baltic Sea suppliers offering HMS 1&2 (80:20) at...Read More
Modern Monetary MadnessPet Economists Can This Really Be a Thing?Sound Bite EconomicsDo Deficits Matter?Strategic Investment and Life PlanningDallas, Houston, Cleveland a lot, New York, back to Puerto Rico, Austin, and DallasMore than 10 years ago some Australian readers begin regaling me with the ideas of economist Bill Mitchell of the University of Newcastle in New South Wales. He was teachi...Read More