Turkish steel mills continued to make deep-sea scrap purchases at a slow pace this week, while prices were going down, sources said on Wednesday April 10.A steel producer in the Marmara region booked a United States cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $306 per tonne cfr, 6,000 tonnes of shredded at $311 per tonne and 2,000 tonnes of bonus at $316 per tonne cfr, late on April 9.Th...Read More
Drill core from the Tom West Zone showing layers of zinc and lead rich mineralization.With backing from a major zinc producer, Fireweed Zinc Ltd. [FWZ-TSXV] says it is planning a summer drill program that will focus on regional exploration around its Macmillan Pass zinc-lead-silver project in the Yukon Territory of northwest Canada.The plan is to show that Macmillan Pass is truly a district-scale...Read More
(Updates with closing prices)By Peter HobsonLONDON, April 10 (Reuters) - Zinc touched a two-week low onWednesday on concerns that Chinese smelters will ramp up output,but prices were supported by a shortage of immediately availablematerial on the London Metal Exchange (LME).Benchmark zinc on the LME closed 0.4 percent up at$2,873 a tonne after slipping to $2,842, its lowest since March26.Deficits...Read More
Key data from the Wednesday April 10 pricing session in Europe.Key driversThe European ferro-titanium price moved up in the past week, while scrap markets also increased amid firm fundamentals that have fueled a price rally since March. Current business conditions are expected to persist through April and into May. There were reports that a major German steelmaker booked 150 tonnes of alloy for sh...Read More
Diamond drilling on the Blue Ridge Project in central Virginia, U.S.A. Source: Aston Bay Holdings Ltd.Aston Bay Holdings Ltd. [BAY-TSXV; ATBHF-OTCQB] shares were active Wednesday April 10 after the company said it has begun mobilizing for drilling at its Buckingham gold property in central Virginia, U.S.A., located within the same region of Virginia as the company's recently acquired Blue Ridge Pr...Read More
Global risk sentiment soured overnight following news that the International Monetary Fund (IMF) has downgraded its global growth outlook for 2019 to 3.3% from 3.5% previously. The IMF forecasts the slowdown seen in the second half of 2018 to continue into the first half of this year before picking up in the second half of 2019. The projected growth rate for next year was unchanged at 3.6%.As a re...Read More
Tick-tock, tick-tock goes the OPEC clock.And make no mistake; higher oil prices are coming.All the ducks are in a row, and they're being knocked out one by one.And the biggest catalysts for a crude spike this summer are all connected to OPEC. We've been following the collapse of Venezuela's oil industry for years, and it won't take much more for the entire house of cards to topple. We're even at t...Read More
Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, according to Emily Hersch, managing partner of DCDB Group. "The practical reality of how [solid-state technology] goes from laboratory to supply isn't so much...Read More
GoviEx Uranium Inc. (TSX-V: GXU; OTCQB: GVXXF) is a junior exploration company, focused on becoming a significant uranium producer through the continued exploration and development of its mine, permitted and construction-ready Madaouela Project in Niger, permitted construction-ready Mutanga project in Zambia, and the Falea project in Mali. At PDAC 2019, we learned from Daniel Major, President and...Read More
On Monday night we published and distributed our weekly Canadian Insider Insights newsletter, Will the bulls keep up the energy to win? Our insider of the week was Shopify (SHOP) CEO Tobias L? 1/4 tke. In the report, we highlighted that thanks in part to his large holdings in the company, the stock ranked very high in terms of insider commitment.Shopify CEO Tobias L? 1/4 tke*We suggested this was...Read More
Some of the prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have changed slightly over the past week, with levels of demand remaining low but consistent, Fastmarkets heard on Tuesday April 9.Demand among end-users has been weak, so buyers were unwilling to place orders for large tonnages, sources told Fastmarkets.UAEChina-origin hot-rolled coil (HRC) was on o...Read More
The second decade of the 21st century has been marked by a drastic shift of powers in the global economy, which is opening new opportunities for business, professor Nuria Mas, head of economics department at IESE Business School, said at the 80th meeting of the International Rebar Producers & Exporters Association (Irepas) in Barcelona on Monday April 8. "If in 1980, half of the global GDP was com...Read More
China's hot-rolled coil prices retreated on Wednesday April 10 with trading activity in the domestic market said to be at moderate levels.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($591-593) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, down 10 yuan per tonneA Shanghai-based trader said buyers were only placing orders on an as-needed basis, rather...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
The price for rebar produced and delivered in Southern Europe has narrowed downward by ?,?5 per tonne over the past week amid poor demand, market participants told Fastmarkets on Wednesday April 10.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?485-510 ($547-575) per tonne delivered on Wednesday, down from ?,?485-515 per tonne delivered on April 3.Market part...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More
By: Jordan Roy-ByrneThere are more than a handful of things I can cite as leading indicators for the Gold price.Ratios such as Gold against the stock market and Gold against foreign currencies are generally good leading indicators. The gold stocks and Silver can function as leading indicators at times.Yhe yield curve and bonds can also be leading indicators.But there is one thing I've never ment...Read More
By: Richard (Rick) Mills Gold is often criticized by Wall Street as being kind of a useless investment. Institutional investors tend to prefer investments that are thought to contain the potential for growth, growth = sprouts. An investment has to produce a growing revenue stream - if it doesn't grow it doesn't compound. Gold is rejected as an investment because it doesn't produce sprouts, m...Read More
By: Dave Kranzler"They may try to run this poor thing straight up and over a cliff. Recall the 2000 top was in March but they briefly ran it back in Sep 00. Ditto in Oct 07. When warning signs are ignored, the endings are abrupt. Maintain safety nets, but don't assume stupidity has limits." - John HussmanBefore I saw that quote from Hussman on Twitter, I was contemplating how the trading patte...Read More
By: Michael Kosares (Grey vertical bars indicate recessions.)During the course of the past few weeks, we have heard much about the inverted yield curve in three-month and ten-year Treasuries as a harbinger of recessions. Missed in the press reports is the fact that it has also been a harbinger of higher gold prices. In the chart above, please note the upward surges in the price of gold in the fi...Read More