Gold higher time frame cycles suggest that cycle from 8/16/2018 low ended 5 waves advance on February 20, 2019, at $1346.75 high. Since then, Gold is going lower in an impulse manner as the decline is unfolding as Elliott wave zigzag structure. It’s important to note that the cycle from 2/20/2019 peak remains incomplete to the downside therefore, further downside is expected. Looking for mor...Read More
Peruvian tin producer Minsur resumed normal operations at its San Rafael mine in the southern province of Melgar, following the end of a workers' strike that was first announced on April 30, the company said on Wednesday May 1."An agreement was made with our workers' trade union at San Rafael to finish the strike," Minsur said in a filing with the Peruvian stock exchange. "Work at the unit was...Read More
Zinc spot treatment charges (TCs) were expected to remain at their current high levels through the rest of 2019, because additional Chinese smelting capacity will only come online next year, Nexa Resources' chief executive officer Tito Martins told investors on Thursday May 2.But the price on the London Metal Exchange could rise in the second half of the year amid a global deficit of the metal, he...Read More
Source: Maurice Jackson for Streetwise Reports 04/30/2019Jake Bernstein, founder of Weekly Capital Markets Report and Daily Sentiment Index, in conversation with Maurice Jackson of Proven and Probable, discusses lessons he has learned in over 50 years of trading.Maurice Jackson: Joining us for a conversation is Jake Bernstein, the founder of the Weekly Capital Markets Report and the Daily Sent...Read More
BMW Group has chosen Braidy Atlas - the joint-venture project between Russian aluminium producer UC Rusal and US holding company Braidy Industries - to supply aluminium sheet for North American manufacturing, due the venture's focus on a low-carbon footprint and using "green" inputs, Braidy Industries' top executive told Fastmarkets AMM.Once the greenfield aluminum rolling mill begins production,...Read More
Daily PDFs will be downloadable until Monday May 6. After that, because of the UK's early May bank holiday, the next daily PDF will be downloadable on Wednesday May 8.Read More
Comex copper prices sank further in morning trading on Thursday May 2 in the United States after a 3% selloff yesterday fueled by increased warehousing inflows, weak global data and a stronger dollar. The copper price for July settlement on the Comex division of the New York Mercantile Exchange fell 2.15 cents to $2.7810 per lb. "In line with our expectations, copper has come under downward p...Read More
Prices for imported flat-rolled steel have edged downward, but they aren't attracting US buyers because domestic prices are falling even faster, market participants said.And with US mill lead times short - a matter of weeks as opposed to as much as three months for import orders - there is little incentive to take the price and geopolitical risk associated with offshore deals, they said.Hot-rolled...Read More
Prices for reinforcing bar steel in the United States continued to soften on weak demand, sources told Fastmarkets AMM. Fastmarkets AMM's price assessment for domestic rebar is $34.25-35.25 per hundredweight fob mill as of Wednesday May 1, down 0.7% from $34.50-35.50 per cwt two weeks earlier and off 2.1% from $35-36 per cwt at the beginning of the year. At the same time, Fastmarkets' assessment f...Read More
Grayscale Investments, a subsidiary of Digital Currency Group, launched a provocative ad campaign on Wednesday, challenging investors' traditional beliefs around gold investing. Employing social-media hashtags like #DropGold, the campaign attempts to challenge the yellow metal's place in an investor's portfolio, championing bitcoin - the world's most famous cryptocurrency - as a superior alternati...Read More
RCT has finished a major automation project at Matsa Resources' Aguas Te??idas and Magdalena mines in the Huelva province of Spain.The project involved installing ControlMaster guidance automation on four CAT R2900G underground loaders and one automation centre surface control station at Matsa's Aguas Te??idas copper-lead-zinc mine.The Automation Centre is fitted out with RCT's multiple machine co...Read More
RAPAPORT... The major diamond miners have weighed in on the debateover which diamonds are more ethical, claiming their production uses less than one-thirdof the energy it takes to create a diamond in a lab. The operations of companies that make up theDiamond Producers Association (DPA) emitted an average of 160 kilograms ofcarbon dioxide (CO2) per 1-carat of polished diamonds produced in 2016...Read More
Reduced trading due to shorter Labor Day week andongoing general elections. Volatile rupee making traders cautious. Feweroverseas buyers in Mumbai due to recent Passover and Easter holidays.Manufacturers cutting production instead of diamonds. Liquidity tight, inventoryinflated. Jewelers preparing for May 7 Akshaya Tritiya Hindu festival, apopular time to buy gold. RoundRead More
Turkish billet prices have softened over the past week, with news of fresh export sales at lower prices confirming the downturn, sources said on Thursday May 2.Fastmarkets' weekly price assessment for billet exports out of Turkey was $425-430 per tonne fob on Thursday, down from last week's $450-455 per tonne.A steel mill in northern Turkey sold 40,000 tonnes of billet to Saudi Arabia at $425 per....Read More
Polished market quiet, with dealers doingbetter than manufacturers. Steady US demand for 1.00 to 1.50 ct. goodssupporting the trade, but prices continue to soften. 1 ct. RAPI -0.5% in April.Suppliers preparing for Vegas shows, hoping new JCK venue will help boostsentiment and sales. Far East buyers selective. High expectations for Mother'sDay as NRF predicts jewelry sales will be strongest growth...Read More
Domestic long steel prices have gone up in Turkey over the past week but only because the country's lira has continued to weaken against the US dollar, sources said on Thursday May 2.Fastmarkets' weekly price assessment on Thursday for domestic rebar in Turkey was TRY3,300-3,350 ($553-562) per tonne ex-works, including 18% VAT, up from the TRY3,240-3,340 per tonne of last week.The local rebar pric...Read More
RAPAPORT... US retail sales showed their largest gain since September asthe economic and financial outlook stabilized, according to the National Retail Federation (NRF). Total purchase value grew 3.6% year on year in March, with salesrising in nearly every retail sector on a month-to-month basis, the trade organization reported earlier this week. TheConference Board's Leading Economic Index -...Read More
Employees of Tata Steel Europe no longer support the creation of a joint venture with German steel conglomerate ThyssenKrupp, the company's European works council (EWC) has said.The council does not believe that such a merger would be in the best interests of the company's workers, it said in a statement issued on Wednesday May 1 but dated April 26."We confirm that the EWC does not support the pac...Read More
RAPAPORT... Global demand for gold jewelry rose 1% year on year to 530.3tonnes in the first quarter, buoyed by strong demand from the Indian market,the World Gold Council (WGC) reported Thursday. The market for gold jewelry in the country grew 5% to125.4 tonnes in the three months ending March 31, as local prices for the metal droppedsharply in the first week of March. Consumers took advantag...Read More
The Diamond Producers Association (DPA), released a research report, entitled The Socioeconomic and Environmental Impact of Large-Scale Diamond Mining, on the socioeconomic and environmental benefits and impacts on local communities, employees and the environment by the mining activities of its own members.DPA Members generate more than US$16 billion in net socioeconomic and environmenta...Read More