Some people out there are starting to worry about creeping socialism, the number of genders, social justice warriors, and other perceived atrocities.I'm here to tell you, as I have for nearly a decade now, to keep the focus on yourself, your family, and what matters most to you. That's ultimately the best way to improve yourself, your community, and the world.The world has always changed and is al...Read More
Physical uranium stockpiler Yellow Cake PLC (LON:YCA) said the recent pullback in spot prices presented a good buying opportunity as it remained confident in the long-term outlook for the radioactive metal.The global spot uranium price softened to end the quarter at US$25.75 per pound of U3O8, from US$28.50/lb three months before.After the US Department of Commerce submitted a report to the White...Read More
The latest commitment of traders report (COT report) showed that the hedge funds on the Comex (the "managed money" account) is now net short 33.9k contract of paper gold. This is a record net short position in paper gold for the managed money account on the Comex. The previous all-time high was 27.2k contracts at the end of December 2015.This explains a lot to me about the character of the pri...Read More
Gold futures finished higher Friday after a quarterly reading of the pace of growth of the U.S. economy came in better than expected, but other aspects of the report raised questions about the underlying strength of the economy. The U.S. economy expanded at a 3.2% annual pace in the first three months of 2019, the government said Friday. The gain was well above forecasts for a 2.3% increase in gr...Read More
Tesla (NASDAQ: TSLA) shorts piled on big last week.After disappointing earnings, it was certainly fertile ground for a short attack.Most outspoken was was Gabe Hoffman, from Accipiter Capital Management, who said the following ..."The biggest issue for the stock is that Elon Musk - basically the lying magician - is not able to tell investors or his, you know, cult followers."Clearly Hoffman has an...Read More
Ron Struthers of Struthers' Resource Stock Report reviews results from drilling at the company's project, including a drill hole that intersected significant mineralization. I am very surprised at these great, high-grade results for the first drill pass on the first target at Zonte's Cross Hills. Before seeing more details below, or if you skip down lower, come back for some detail on IOCGs.What...Read More
Gold has failed to gaintraction over the past couple months, normally a seasonally-strong time. That has really weighed on sentiment, leavingtraders increasingly bearish. Goldinvestment demand has flagged dramatically with lofty stock markets spewinggreat euphoria. That’s given gold-futuresspeculators the run of the market, where they have sold aggressively includingextreme...Read More
Steel production has stopped at the Algerian steel mill of Turkish steelmaker Tosyali after a workers' strike began on Wednesday April 24, according to local newspaper reports. Tosyali could not be reached for comment at the time of publication. "Production at Tosyali has stopped, and in the past two or three days, we have seen increased Algerian interest for wire rod imports from Italy and Spain,...Read More
If the United States places import tariffs on cars produced in Germany it could trigger an economic slowdown in Germany, corporate audit director of Czech steel distributor Ferona, Jan Moravec, said at Eurometal's Regional Meeting in Central Europe held in Prague on April 25.One of the major risks to the German steel industry is the import tariffs in the United States, Moravec said.Tariffs on impo...Read More
Tata Steel aims to produce 32 million tonnes per year of crude steel at its Indian operations by 2025, the company said.The 2025 capacity target in India would constitute the entirety of the steelmakers' global crude capacity following the planned divestment of operations in Asia and a planned joint venture of European flat steel operations with Germany's ThyssenKrupp.Of the Indian steelmaker's cu...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
Gold spot ($) Further advance. Stay on top of the markets with Swissquote’s News & Analysis Pivot (invalidation): 1276.00 Our preferenceLong positions above 1276.00 with targets at 1285.00 & 1287.00 in extension. Alternative scenarioBelow 1276.00 look for further downside with 1273.00 & 1270.00 as targets. CommentThe RSI is bullish and calls for further u...Read More
As always, most analysts focus not on what they really should. After March FOMC meeting, everyone was talking about the more dovish dot-plot. But the Fed also announced that it will end the unwinding of its balance sheet in September. As these changes are revolutionary and may entail potentially huge consequences for the precious markets, we invite you to read our today’s article about the n...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
Seaborne pig iron has become relatively competitive versus ferrous scrap over the past year in most regions, and China is no exception. As the first chart below illustrates, the gap between the MBR's proxy for imported pig iron price in China and the Metal Bulletin's Chinese domestic heavy melt scrap price assessment had shrunk by late 2017. The premium averaged $17 per tonne this year to date, co...Read More
Eastern promise for PolarXSPONSOREDpolarxWaterton, which controls 12.09% of Hubday's outstanding shares, has nominated five directors and has been trading barbs with the miner since October, when it first sounded the alarm over its concerns about the company's leadership and strategic direction.Glass Lewis says it has has assessed Waterton's arguments and agrees Hudbay will benefit from a minority...Read More