With most of the US and European markets closed due to Easter Monday bank holiday, the currency markets are expected to be quiet. Economic data is sparse with only the release of the US new home sales report later in the day. The quiet start to the week comes ahead of some key economic releases and central bank meetings due over the course of the week. Euro Currency Turns Bearish Again The...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold steadied on Monday, holding above a nearly four-month low touched the previous session on support from a weaker dollar and expectations the United States would put further restrictions on Iran's oil exports.Spot gold was slightly up 0.1 percent at $1,275.62 per ounce. On Thursday, it touched $1,270.63, its lowest since Dec. 27. The...Read More
Researchers from Kent Business School published a paper this week in the journal Environmental Science and Pollution Research where they state that increased demand for solar panels causes silver prices to spike.The researchers say that if silver prices go way too high, other materials such as copper and aluminium may start to be used in the development of solar panels.After analyzing a series of...Read More
Physical iron ore prices rebounded on Monday April 22 amid gains in the steel and futures markets, after declining over consecutive days last week.MB 62% Fe Iron Ore Index: $94.48 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.26 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.75 per tonne cfr Qingdao, up $2.73 per tonne. MB...Read More
China's hot-rolled coil prices regained some strength on Monday April 22 on moderate trading activity amid stable demand.DomesticEastern China (Shanghai): 4,010-4,020 yuan ($598-600) per tonne, up 40-50 yuan per tonneNorthern China (Tianjin): 3,950-3,960 yuan per tonne, up 50 yuan per tonneTransaction prices gained traction during the day after mills raised their offers.Trading activity was descri...Read More
The seaborne coking coal spot market was quiet on Monday April 22 amid thin trading, though bullish sentiment in China kept prices supported."Traders are holding on to their cargoes because they are waiting for end-user demand to cave in to higher prices. The Chinese steel market is expected to strengthen in the April-June quarter," a northeastern Chinese end-user source said.He thinks there is li...Read More
Stephanie Landsman| @stephlandsmanPublished5:00PM ET Sun, 21 April 2019CNBC.com show chapters As gold prices sink to worst levels of year, Standard Chartered predicts a test of 2018 highs 5:03PM ET Thu, 18 April 2019 |02:21 One of Wall Street's top metals expects predicts gold will breakout this year.With gold prices sinking to 2019's lowest level last Thursday, Standard Chart...Read More
Rob Kirby says the prices for both gold & silver are currently unsustainable, and the manipulation can't much longer. Here's why...Rob Kirby interviewed on SBTVSBTV's latest guest is Rob Kirby of Kirby Analytics. We discuss the failure of Long-Term Capital Management (LTCM) and how it resulted in the 'death sentence' of Bear Stearns years later in the financial crisis of 2008.Discussed in this int...Read More
The seaborne coking coal spot market was quiet on Monday April 22 amid thin trading, though bullish sentiment in China kept prices supported."Traders are holding on to their cargoes because they are waiting for end-user demand to cave in to higher prices. The Chinese steel market is expected to strengthen in the April-June quarter," a northeastern Chinese end-user source said.He thinks there is li...Read More
Keith Barron, who owns 53% of the outstanding common shares of Aurania Resources (TSXV: ARU), has agreed to loan the company up to C$3 million to support exploration at its 100%-owned Los Cities gold project in Ecuador. The chairman and CEO also participated in the company's rights offering in March that raised C$5.25 million. Barron acquired 1.48 million of the 1.95 million shares issued at C$2.7...Read More
China's domestic rebar prices posted strong gains on Monday April 22 amid gains in the futures market, though concerns have emerged over an increase in supply.Domestic Eastern China (Shanghai): 4,120-4,150 yuan ($614-619) per tonne, up 60-70 yuan per tonne Northern China (Beijing): 4,050-4,080 yuan per tonne, up 40-50 yuan per tonneRising futures improved sentiment in the spot market during the da...Read More
Japan's mining and energy conglomerate JXTG Holdings Inc., the majority owner of Chile's Caserones copper mine, is said to be studying the sale of the operation, in a deal that could fetch about $1 billion.According to The Wall Street Journal, the urge for offload the asset comes amid expectations of rising copper prices, driven in part by a lack of investment in new mines and soaring demand for...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 22 that are worth another look.The US copper market began trading in the red on Monday April 22, with market participants bearish despite a softer dollar and growing optimism of a breakthrough in American and Chinese trade talks. Brazilian steelmaker and miner Usiminas maintained its production target of 7.5-8 mil...Read More
A summary of South32's production results for its financial third quarter ended March 31, 2019, as well as its full-year production guidance.In brief Global diversified mining and metal company South32 raised its 2019 production guidance for manganese ore to 5,630,000 wet metric tonnes, up 89,000 tonnes from 5,541,000 tonnes in financial year 2018, in response to favorable demand in the market. Th...Read More
Fastmarkets MB's bi-weekly Shanghai-bonded copper stock assessment scheduled for Monday April 22 will be published on Tuesday April 23 instead due to the Easter Monday holiday.It is a national holiday in London from Friday April 19 to Monday April 22. For any inquiries please contact Ellie Wang at ellie.wang@fastmarkets.com with the subject line: "Re: Shanghai-bonded copper stock assessment"Read More
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Base metals stocks, barring those for lead, held in Shanghai Futures Exchange warehouses declined in the week ended Friday April 19.Copper stocks at SHFE-approved sheds fell by 3.4% or 8,444 tonnes last week to total 236,734 tonnes on April 19, marking the third consecutive weekly decline. Stocks had totaled 261,412 tonnes on March 29.The drawdown in red metal stocks follows the start of the secon...Read More
The Minerals Council of Australia or MCA issued a communiqu?(C) calling on the Scott Morrison administration to repeal a current ban on nuclear power.The release followed Morrison's comments last week on a Tasmanian radio station, where the prime minister said he would be okay with receiving proposals from the nuclear energy industry.However, following a negative reaction from the opposition, the...Read More
Base metals traded on the Shanghai Futures Exchange exhibited mixed moves during morning trading on Monday April 22, with volumes limited following the Easter holiday weekend.With a number of markets closed in observance of Easter Monday and the dollar index in relative high ground, the SHFE base metals complex could find no clear direction; copper, zinc and tin prices were weaker, while those for...Read More
Brazilian flat steel producer Usiminas plans to invest around 60-70 million Reais ($15-18 million) this year in preparations for maintenance work at its No3 blast furnace in Ipatinga city, in the southeastern Minas Gerais state.The reform is expected to be made in 2020-21, according to the company, but Usiminas is already preparing for expenses with projects and equipment acquisition."After the bl...Read More