There is little surprise that stock investors are jittery as the U.S. extends the longest U.S. economic expansion on record and after a stratospheric 330% stock-market gain during the run, including an almost 17% year-to-date total return. Bulls insist this economic and market expansion is built like no other, meaning that its demise won't come about in a way that has taken down past bullish phase...Read More
Warrant traders are reporting an uptick in European zinc warrants available on the London Metal Exchange amid fresh inflows of material this month, while a strong backwardation in the metal's nearby spreads has left participants questioning what is incentivizing buying. This week, Fastmarkets was informed of business at $25-30 per tonne for 99.995% North European zinc warrants, its highest le...Read More
An overview of the battery raw materials markets and their price moves.Read More
Bob Moriarty ArchivesApr 26, 2019TheRound Mountain Gold Mine is on the west side of the Toquima caldera in south-central Nevada. What Rover Metals (Rover) (ROVR-V) calls the Toquima precious metals property is on the other side of the caldera. On April 10Rover announced a Letter of Intent to purchase all of the issued and outstanding shares of Centennial Mining, owner of the Toquima gold and silve...Read More
Adam HamiltonArchivesApr 26, 2019 Gold has failed to gain traction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leaving traders increasingly bearish. Gold investment demand has flagged dramatically with lofty stock markets spewing great euphoria. That's given gold-futures speculators the run of the market, where they have sold aggressively i...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 176,691139,29659,299154,403211,799390,393410,394 Change from Prior Reporting Period -6,52212,3568558,701-12,3333,034878 Traders 17490775752267184 Small Speculators LongShortOpen Interest 49,65529,654440,048 -3,567-1,411-533 non reportable positionsChange...Read More
Gold has failed to gain traction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leaving traders increasingly bearish. Gold investment demand has flagged dramatically with lofty stock markets spewing great euphoria. That's given gold-futures speculators the run of the market, where they have sold aggressively including extreme shortin...Read More
By: Avi GilburtI am not sure how much more I can add to what has been said over the last two weeks in the metals complex.At this point in time, it is quite clear that the metals are testing support. As specifically noted about silver, the 14.60 support region is what I want to see holding as support here. While I can accept a spike and reversal of that level, a sustained break of that level...Read More
It's like a breath of fresh air when the futures actually finish lower on the day. Granted, the S&P slippage on Thursday amounted to only a few measly points. Would it be churlish to hope it's the start of something really nasty? Bulls should be hoping for nothing less, since the broad averages, especially the Nasdaq, are desperately in need of a rest. Nitro-fueled by FAANG stocks, the Naz ha...Read More
By: Ira EpsteinSpecial Video in lieu of the daily metals update: Swinglines:Read More
US GDP numbers is overhyped today. Traders will take positions for next week's FOMC meet and host of US jobs numbers. There will be an Easter impact on US jobs. Global economy has a feel good situation. Once again it will be a technical trade today. Central bank buying has failed to lift gold. I am against going long in crude oil unless it breaks and trades over $67.20 till Mid May. Remain on th...Read More
An overview of the battery raw materials markets and their price moves.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Global ferrous scrap prices showed varying dynamics in the week ended Friday April 26 following price drops in Turkey and Vietnam, while prices moved up in Taiwan and India. Only deal done this week sends Turkish prices down US export market remains static Prices move down in Vietnam Taiwan prices begin recovery India prices inch up on tight supply.Turkey importsThe Turkish mills remained mostly s...Read More
Construction activities at the Lindero gold project in Argentina. Source: Fortuna Silver Mines Inc.Fortuna Silver Mines Inc. [FVI-TSX; FSM-NYSE] has published its first video, documenting its construction progress at the Lindero gold project in Argentina.The company now says it expects to publish a new episode every month until the company declares commercial production at the project in the first...Read More
Benchmark Metals Lawyers coreBenchmark Metals Inc. [BNCH-TSXV, CYRTF-OTCQB, 87CA-FSE] said it is proceeding with a flow-through shares offering that is expected to raise $2 million to fund exploration at the company's Lawyers property in northwest British Columbia.The proposed non-brokered private placement consists of about 9.0 million flow-through shares at an offering price of 22 cents per shar...Read More
The price of alloy steel scrap in Europe and the UK have decreased this week following lower nickel and ferrous scrap prices. The London Metal Exchange nickel price was the main driver behind the decline, having fallen to $12,345-12,350 per tonne on April 26 from $12,690-12,700 per tonne on April 18. Austenitic alloy scrap prices, for which nickel values are the most significant influence, reacted...Read More
The Moa Bay joint venture nickel-cobalt operation in eastern Cuba. Source: Sherritt International Inc.Sherritt International Inc. [S-TSX] says an increase in global cobalt prices in April is likely to be sustained through the balance of 2019.Consumer demand helped to boost cobalt prices by about 15% in April, Sherritt said in a press release containing details of the company's first quarter financ...Read More
The price of shredded ferrous scrap imported into India moved up again this week on a lack of available material, sources told Fastmarkets on Friday April 26.Fastmarkets' weekly index for containerized imports of shredded scrap into India inched up to $334.65 per tonne cfr Nhava Sheva on Friday, from $332.25 per tonne cfr one week before.There were very few deals heard in the market for shredded s...Read More
Generally London Metal Exchange prices have been weak in recent days and the strong dollar has been a factor in that, but dip-buying appears to be providing support in morning trading on Friday April 26. Asian equities generally weaker this morning Dollar index extends gains Market waiting for US GDP data Base metals Base metals prices on the LME were for the most part firmer across the...Read More