Blister copper spot refining charges (RCs) in China were unchanged in April while the copper arbitrage window remained negative throughout the month, to discourage import interest, Fastmarkets heard on Tuesday April 30.The cost to turn the intermediate product of 98-99% copper content into refined copper was stable at $160-170 per tonne on April 30, the same as at the end of March.Several bids wer...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comApril 30, 2019 Gold stocks tend to become extraordinarily volatile during weeks that feature multiple key fear trade events. As the month of May begins, gold stocks are faced with a FOMC meeting and the US jobs report. Please click here now. Double-click to enlarge this daily gold chart....Read More
Market futures were pointing to a positive start in Toronto and London but lower on Wall Street and the S&P/ASX 200 index was lower at the time of writing.Both official and private business surveys pointed to slower Chinese factory growth this month, Reuters reported, maintaining hopes for further economic stimulus.The S&P500 had reached a fresh, record intraday high yesterday of 2,949.52...Read More
Aluminium producer Rusal's sales of aluminium value-added products (VAP) were down 22.2% year on year in the first quarter of 2019 amid US sanctions and high premiums, it announced on April 30.Sales of value-added product, such as billet, foundry and slabs, reached 256,000 tonnes in the first quarter of 2019, compared with 333,000 tonnes in the fourth quarter of 2018. First-quarter sales were down...Read More
Brazil's primary aluminium production totaled 147,000 tonnes in the first quarter of 2019, falling by 24.7% compared with 195,100 tonnes in the first quarter of 2018, the country's association for the sector, Abal, said on Monday April 29.Output volumes are decreasing because the Albras smelter, located in the northern state of Par??, is using only half of its capacity following environmental issu...Read More
Glencore produced 10,900 tonnes of cobalt in the first quarter of 2019, up 56% from 7,000 tonnes produced during the same period a year ago. The increase was largely due to the ramp-up at the Katanga mine in the Democratic Republic of Congo. A total of 3,500 tonnes of cobalt in hydroxide was produced at the mine in the first quarter compared with 500 tonnes in the January to March quarter of 2018....Read More
Vancouver, BC - good natured Products Inc. (TSX-V:GDNP) (the "Company" or "good naturedTM"), today announced its audited financial results for the twelve months ended December 31, 2018 ("FY2018"). On January 9, 2018 the Company changed its fiscal year-end from February 28 to December 31. As required in such cases, FY2018 is being compared to the ten months ended December 31, 2017 (the "Comparati...Read More
Vancouver, BC - Norra Metals Corp. (TSX-V:NORA) (the "Company" or "Norra") is pleased to announce that the company has been moving forward with exploration plans on our recently acquired Scandinavian properties. The four Scandinavian projects, three properties in Norway and one in Sweden, provide Norra with a portfolio of prospective properties for our newly created European Business Unit and wi...Read More
Fastmarkets proposes to amend the specifications of its benchmark in-warehouse Rotterdam price assessments to incorporate grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. According to preliminary market feedback, grade-1 and grade-2 cobalt cut cathodes produced by Norilsk are now commonly accepted by consumers of cobalt and are regularly traded in the spot market...Read More
By: Ira EpsteinGold near resistance area, back to neutral:Read More
"Investors" could be pardoned for wondering why IPO underwriters for Lyft and Uber have used accounting trickery that smells worse than ten-day-old fish in order to promote the deals. Is bogus too strong a word? Judge for yourself. In their prospectuses, neither firm subtracted promotional incentives and refunds from sales totals, as is customary. This allowed them to grossly overstate revenues...Read More
The steel mills in Turkey have continued to book deep-sea cargoes for June deliveries, although prices were still weakening, sources told Fastmarkets on Tuesday April 30.A steel mill in the Marmara region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (90:10) at $306 per tonne, 13,000 tonnes of shredded at $309 per tonne and 5,000 tonnes of bonus...Read More
Base metals prices on the London Metal Exchange were for the most part treading water this morning, Tuesday April 30, while the market digests the disappointing Chinese data released earlier. This, combined with the fact that many Asian market participants are away for holidays this week, is likely to lead to subdued trading - but reduced liquidity could also lead to increased volatility.China's m...Read More
(Amends story after SocGen corrects its statement that it mademarkets only in gold)By Peter HobsonLONDON, April 30 (Reuters) - The London Bullion MarketAssociation (LBMA) said Societe Generale had resignedas a market maker for gold and silver, as France's third-largestbank pushes ahead with a downsizing of its commodities business.SocGen said this month it would cut 1,600 jobs to boostprofits afte...Read More
Examining diamond drill core from the Soledad Project in Peru. Source: Chakana Copper Corp.Chakana Copper Corp. [PERU-TSXV] has announced an $8 million strategic investment from Gold Fields Ltd. [GFI-NYSE, JSE] that will see the world's seventh largest gold producer taking a 16.14% interest in Chakana.Under an agreement, Gold Fields Nazca Holdings Inc., a wholly-owned indirect subsidiary of Gold F...Read More
Glencore produced 10,900 tonnes of cobalt in the first quarter of 2019, up 56% from 7,000 tonnes produced during the same period a year ago. The increase was largely due to the ramp-up at the Katanga mine in the Democratic Republic of Congo. A total of 3,500 tonnes of cobalt in hydroxide was produced at the mine in the first quarter compared with 500 tonnes in the January to March quarter of 2018....Read More
Fastmarkets proposes to amend the specifications of its benchmark in-warehouse Rotterdam price assessments to incorporate grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. According to preliminary market feedback, grade-1 and grade-2 cobalt cut cathodes produced by Norilsk are now commonly accepted by consumers of cobalt and are regularly traded in the spot market...Read More
Gold futures settled lower Monday after tallying gains in each of the last three trading sessions, with investors looking ahead to a busy week for Federal Reserve policy and key U.S. jobs data. Palladium, meanwhile, suffered its biggest one-day decline since March, as prices retreated in the wake of four consecutive sessions of gains. Gold for June delivery GCM9, -0.14% fell $7.30, or 0.6%, to se...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have been mostly stable over the past week due to limited demand, sources told Fastmarkets on Tuesday April 30.End-user demand has been poor recently, with buyers unwilling to book material because the market was not expected to improve any time soon.And next week will be the start of the Islamic holy month of R...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly stable during the week ended on Tuesday April 30 due to lackluster demand in overseas markets.Buying interest in Southeast Asia was muted over the week due to the uncertainty caused by the elections in Indonesia and the Philippines, a market source in Tianjin said. Cold rolled coilFastmarkets MB's weekly export p...Read More