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
By: Ira EpsteinGold lower highs with lower lows, can gold get above $1525.8? Who is controlling the markets?Read More
High chances that there will not be a trade deal between USA-China will result in gold and silver trading with a bullish bias. Trade war between USA-China and USA-Rest of the world, will only rise if there is no trade deal this week. Gold and silver will zoom to $1600 and $1900 as a result. Keep a close watch on Syria. Turkey is trying to take over the Kurdish region of Iraq and Syria. Russia is...Read More
Fastmarkets is initiating a consultation on a proposed increase in the frequency of its benchmark prices for cobalt standard grade and cobalt alloy grade, in whs Rotterdam, to daily. Fastmarkets currently assesses both prices on Wednesday and Friday each week.Initial feedback suggests that daily pricing would be more responsive to price moves in the cobalt market, notably during times of volatilit...Read More
Turkish steel producers resumed booking deep-sea scrap for November shipment after a short break, sources said on Wednesday October 9, although prices have now increased compared with previous bookings due to a lack of supply.One Turkish steel producer booked a scrap cargo from the United States, comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at $2...Read More
Markets are treading water this morning, Wednesday October 9, ahead of the United States-China trade talks that are being held on Thursday and Friday. Ahead of the negotiations, optimism for a trade deal between the two is fading while rhetoric rises, but that may just be gamesmanship.The International Monetary Fund (IMF) is expected to downwardly revise its growth projections for this year and th...Read More
Ontario's government is investing in a conference centre, creating five full-time jobs and 10 seasonal jobs.Today, Parliamentary Assistant Dave Smith, on behalf of Greg Rickford, Minister of Energy, Northern Development and Mines, announced Killarney Mountain Lodge received $400,000 for the construction of the Canada House conference centre. The conference centre, built with locally sourced logs a...Read More
Fastmarkets is initiating a consultation on a proposed increase in the frequency of its benchmark prices for cobalt standard grade and cobalt alloy grade, in whs Rotterdam, to daily. Fastmarkets currently assesses both prices on Wednesday and Friday each week.Initial feedback suggests that daily pricing would be more responsive to price moves in the cobalt market, notably during times of volatilit...Read More
Few markets have been hit harder over the last couple years than cobalt.The meteoric rise in cobalt prices that took place between 2016 and 2018 was followed by an incredible price collapse that cut 70% off its value.It wasn't hard to see why prices had skyrocketed suddenly...Investors quickly caught on to how critical blue gold will be for us going forward - regardless of whether we live in a hig...Read More
Kore Mining Ltd (TSXV: KORE) owns 100% interest in the Imperial and Long Valley gold development projects, located in California, USA and the FG Gold and Gold Creek exploration projects, located in the Cariboo region of British Columbia, Canada. Combined, the Company's projects boast a 5 million ounce gold opportunity. We learned from Scott Trebilcock, President and CEO of KORE Mining, that they w...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been under pressure from limited market activity, sources told Fastmarkets on Wednesday October 9.Demand from end-users has been low, according to market participants. In addition, buyers believed that prices would go down and therefore they preferred to hold back from purchases until prices reached a market bottom.Domestic prices for hot-r...Read More
Steelmakers in Northern Europe have decreased their domestic prices for hot-rolled coil (HRC) because they need to secure orders in a slow market, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?440-445 ($483-488) per tonne on October 9, down by ?,?10 per tonne week on week from ?,?450-455 per tonne ex-works....Read More
China, the world's biggest steelmaker, is considering importing hot-rolled coil (HRC) on possible arbitrage opportunities with Russia and Iran, Fastmarkets understands. Russian and Iranian hot-rolled coil imports may soon become an attractive prospect for Chinese buyers due to their low offers to the country, market sources told Fastmarkets on Wednesday October 9. "Russian re-rolling grade HRC is...Read More
Domestic prices for steel wire rod across Europe remained unchanged this week, but market participants were keeping a close eye on the ferrous scrap sector to see if recent developments there would turn into a sustainable price recovery, sources told Fastmarkets on Wednesday October 9.Fastmarkets' index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, fell by 24% from the beg...Read More
Here is what's new today on INK Ultra Money. Canadian Insider Club members can get subscriber content by upgrading for the special rate of $99.99 per year (plus tax) via the Membership tab after logging in. If you are not a Club member, join now as an Ultra member.1. It is going to get worse before it gets better - Real Vision (subscriber video)Michael Kantrowitz, CFA, chief investment strategist...Read More
The price of steel rebar in the Southern European domestic and export markets was slightly lower this week because limited export opportunities were creating an excess of supply, sources told Fastmarkets on Wednesday October 9.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?445-465 ($488-510) per tonne on Wednesday, widening downw...Read More
The price of steel rebar in the Northern European domestic market was unchanged this week amid signs that the downward trend in the ferrous scrap market may have finally come to an end, sources told Fastmarkets on Wednesday October 9Fastmarkets' weekly price assessment for steel rebar, domestic, delivered Northern Europe, was ?,?460-475 ($505-521) per tonne on Wednesday, unchanged week on week. "W...Read More
Turkish steel producers resumed booking deep-sea scrap for November shipment after a short break, sources said on Wednesday October 9, although prices have now increased compared with previous bookings due to a lack of supply.One Turkish steel producer booked a scrap cargo from the United States, comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at $2...Read More
Physical iron ore prices dropped on Wednesday October 9 amid soft steel markets and demand concerns over the potential for more steelmaking restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.06 per tonne, down $3.71 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.34 per tonne, down $3.71 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.75 per...Read More
Rebar prices in eastern China continued to weaken on Wednesday October 9 on inactivity and sustained pessimism, while those in the northern region were unchanged on steady demand. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($520-525) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,590-3,630 yuan per tonne, unchangedSellers in eastern China lowered their prices to stimulate...Read More
- Craig Hemke, TF Metals ReportPrecious metals prices have rallied in 2019 as global central banks reverse their policies of tightening and rate increases. And now even more rate cuts and restarted QE are on the way.If anything, none of this should come as a surprise to regular readers of these weekly updates. Though nearly every Wall Street economist was forecasting rate hikes in 2019, we sto...Read More