The concentrator at the Kamoto Mine in the DRC. Source: Katanga Mining Ltd.Glencore AG's Katanga Mining Ltd. [KAT-TSX] unit has resumed the export and sale of a limited amount of cobalt that complies with both international and local Democratic Republic of Congo (DRC) transport regulations with respect to the level of uranium.In the fourth quarter of 2018, Katanga said it would temporarily suspend...Read More
Lundin Mining has signed an agreement with Yamana Gold to buy the open-pit copper and gold Chapada mine in the Brazilian Midwest state of Goi??s for up to $1.03 billion, the miners said on Monday April 15.Cash payments will total $800 million, with an additional $125 million in effect over five years depending on gold prices, as well as $100 million more whether the mine chooses to build a pyrite...Read More
* First greenfield aluminium mill in U.S. for 37 years * Rusal looks to invest $200 million in the mill * To supply 2.0 mln T of low-carbon aluminium over 10 years (Releads, adds detail throughout)By Polina DevittMOSCOW, April 15 (Reuters) - Rusal is making itsfirst investment in the United States since Washington liftedsanctions against the Russian aluminium giant, teaming up withU.S. manufacture...Read More
There were seven main points for participants in the lithium market to take away from the Battery Materials 2019 Conference, hosted by Fastmarkets in Shanghai on April 10-12 this year.1. Lithium prices will remain under pressure for most of 2019Lithium prices will remain under pressure due to increasing supply.There were new projects able to produce battery-grade lithium carbonate and hydroxide in...Read More
Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona, a mine that the company envisages will provide raw materials to help fuel the electromobility boom. When fully operational, Resolution - a joint venture in which Rio Tinto has a 55% stake and BHP Billiton has the remainder - has the potential to supply nearly 25% of the U...Read More
Cobalt hydroxide prices reflect the true fundamentals of the cobalt market, and are likely to be one of the market's most important benchmarks, delegates who attended Fastmarkets' Battery Materials Conference in Shanghai heard last week."This is why we are happy to see Fastmarkets launch cobalt hydroxide assessments, which is more representative of the dynamics of cobalt market as a whole," Forres...Read More
China's hot-rolled coil prices bounced back on Monday April 15, with domestic gains continuing to encourage steelmakers to raise their export offers.DomesticEastern China (Shanghai): 4,000-4,020 yuan ($597-600) per tonne, up 30-40 yuan per tonneNorthern China (Tianjin): 3,930-3,950 yuan per tonne, up 10-20 yuan per tonnePrices in Shanghai rose significantly during the day, with most transactions t...Read More
On November 4, 2014, voters in Washington, D.C., approved Initiative 71, a ballot initiative that legalized the recreational use of cannabis for adults 21 and over.But there was a bit of a catch.Initiative 71 "allows adults 21 and older to possess up to two ounces of marijuana, grow up to six plants, and gift up to one ounce of pot to other adults 21 and older, but sales remain banned."So, in shor...Read More
Desert Mountain Energy Corp. (TSX.V: DME) is engaged in exploration and development of helium, oil & gas and mineral properties, in the Southwestern United States. At PDAC2019, we learned, from Irwin Olian, President and CEO of Desert Mountain Energy, the Company's current focus is on helium, which is in surging demand in the high-tech world. There is currently a worldwide shortage of helium, its...Read More
Gerdau will lay off 100 workers at its special steel unit in Pindamonhangaba city, in Brazil's southeastern S??o Paulo state, due to the weak performance of the Brazilian automotive industry, according to the company."Gerdau confirms negotiations with the union to conduct a layoff program at its Pindamonhangaba works, starting in April," the Brazilian steelmaker said.Supply to clients wi...Read More
We just did another first on CanadianInsider.com. We now provide free quantitative INK Edge stock rankings updated monthly for thousands of North American companies. While other sites charge for these types of rankings, we are posting them monthly for free. We are also the only site that incorporates insider commitment along with fundamentals to determine a stock's ranking. You can watch our shor...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index had a fairly quiet week but drifted 2.5 points higher by week's end to close at 1149.39.MACD remained fairly firm and dipped 1.68 points to 57.90. MACD rose 1.49 to 2.35 and now is clearly on a MACD buy signal.Support is now at 1139 and 1121 (its lower Bollinger band). Overhead...Read More
Egypt has imposed a temporary additional duty on imports of rebar and billet, effective from Monday April 15. The duty is 25% for rebar imports, and between 3% and 15% for billet imports. The duty for billet is as follows: If the cost, insurance and freight (cif) price is below $450 per tonne, the safeguard duty will be the maximum 15%. If the cif price is between $450 and below $470 per tonne, th...Read More
Buyers in Singapore's spot rebar market are finding Turkish materials the most economical at the moment, sources told Fastmarkets MB.A major steel producer in Turkey sold a 50,000-tonne cargo, which consisted of 35,000 tonnes of rebar and 15,000 tonnes of coiled debar - to Singapore last week. Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes of t...Read More
Turkish steel mills had a quiet start to the week in the deep-sea scrap markets, but market participants are expecting more bookings for May deliveries, sources said on Monday April 15.There were no new deep-sea transactions done on Monday, but mills continued to negotiate on May cargoes for lower prices, Fastmarkets heard. Some traders reported that mills were bidding for US-origin HMS 1&2 (80:20...Read More
Turkish domestic auto bundle scrap prices have increased over the past week, while domestic ship scrap prices moved downwards on a weak lira, sources said on Monday April 15.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,730-1,870 ($300-325) per tonne delivered on Monday, compared with TRY1,695-1,870 per tonne last week. The slight change in the...Read More
Domestic prices for ferrous scrap in Italy have decreased over the past month, sources told Fastmarkets on Monday April 15.The monthly price assessment for Italian grade-E3 scrap was ?,?260-275 ($294-311) per tonne delivered on April 15, compared with ?,?270-285 per tonne delivered in the previous month.The reasons behind the decrease were slower scrap buying activity by Italian mills, lack of dem...Read More
China's rebar prices rebounded on Monday April 15 after market participants' outlook for demand in the next few months improved following the release of the latest data from the property sector. Domestic Eastern China (Shanghai): 4,060-4,110 yuan ($606-613) per tonne, up 40 yuan per tonneNorthern China (Beijing): 4,000-4,030 yuan per tonne, up 30-40 yuan per tonneThe housing market in first-tier C...Read More
StrengthsThe best performing metal this week was palladium, up 0.24 percent as hedge funds cut bullish positioning to a six-month low, perhaps resetting expectations. Gold traders turned heavily bullish this week after being neutral last week as the Federal Reserve signaled interest rates will be on hold, ac...Read More
Dear Friend of GATA and Gold:Thanks to Zero Hedge for calling attention tonight to the interview of the Zurich-based financial letter The Market with James Grant, editor of Grant's Interest Rate Observer, wherein Grant remarks that the Federal Reserve is manipulating the stock market up and interest rates down. Grant calls the latter rigging "very near to a crime."But as always Grant has nothing...Read More