Central banks are going gaga over gold. They are snapping up the metal at the fastest rate in almost half a century in a trend that looks set to continue. Over the 12 months through March 31, they purchased a whopping 715.7 metric tons of gold bullion worth around $29.4 billion, according to a recently published report from the industry group World Gold Council. "In all likelihood, we expect ano...Read More
With LME Asia Week now in full swing, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year's event: How will aluminium premiums in Japan and South Korea likely fare for the rest of the year?The main Japan ports (MJP) aluminium premium typically rises during the peak demand season seen during the second quarter of each year, Fastmarkets MB data indi...Read More
Comex copper remained in a fixed range to open the week, with European market participants sidelined for a public holiday.Comex copper remained in a fixed range to open the week, with European market participants sidelined for a public holiday.The copper price for July settlement on the Comex division of the New York Mercantile Exchange inched up 0.95 cents to $2.8285 per lb.In a post overnight on...Read More
Copper stocks in Shanghai-bonded warehouses rose slightly in April compared with March, while muted trading activity last month pushed the bonded warrant premium for the red metal to a 13-month low.Despite the slight increase, market participants expect copper inventories to decline in the coming weeks and months because the second quarter of the year is traditionally associated with high metal co...Read More
From Monday May 13, Fastmarkets MB will publish the assessment of manganese ore inventories at the main Chinese ports of Tianjin and Qinzhou on Mondays, instead of Wednesdays previously. The change was initially meant to take effect on Monday May 6 following a one-month consultation over the whole of April, taking into account the May 1-3 Labor Day break in China. But this was postponed for anothe...Read More
Cannabis accounted for 60.5% of all trading volume and 76% of all capital raised on the Canadian Securities Exchange (CSE) in 2018 - some C$3.99 billion of the $5.22 billion total in 270 transactions.Cannabis stocks claimed eight of the top 10 positions for the most value traded on the TSXV and two of the top 10 on the TSX where five banks and three energy companies dominate. In terms of volume tr...Read More
Vancouver, BC - Venzee Technologies Inc. (TSX-V: VENZ) (the "Corporation" or "Venzee") is pleased to provide an update on the Company's channel partnerships and provide insight for 2019. In 2018 Venzee shifted from direct sales to a channel partnership model, which has proven to be highly successful in attracting industry-leading technology partners that recognize the value of Venzee's Mesh API co...Read More
The Monday Market Minute Global stocks plunge as President Trump threatens to hike tariffs on China-made goods in a weekend Tweet that threatens to upend trade talks between the world's two biggest economies.Just days after saying talks had been "going along pretty well", Trump said tariffs on $200 billion worth of goods could be imposed by Friday, with levies on a further $325 billion to follow...Read More
By: David Chapman "Sell in May, and go away." old stock market adage "All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies." Warren Buffett, CEO, Berkshire Hathaway; investor and philanthropist, b. 1930 "Wall Street's graveyards are filled with men who were right too soon." William Peter Hamilton, editor, The Wall Street J...Read More
Fever took hold of the stock market as the week ended, stoked by the best unemployment numbers in half a century. Two days earlier, shares had fallen sharply as investors registered their disappointment in the Fed's latest pronouncement. Obfuscator-in-chief Powell had said the central bank would hold steady and that the economy seemed in fine shape. But the markets reacted as though they were ho...Read More
Ferrous scrap will be the "next big thing" for commodity-based derivatives in Asia, according to the Singapore Exchange (SGX).It is one key commodity that the SGX is looking at to expand its slew of ferrous derivatives under the "virtual steel mill" concept, in addition to the iron ore and coking coal contracts that are already trading well on its platform, the exchange's head of commodities, Will...Read More
* Trump says he will hike U.S. tariffs on Chinese goods thisweek * SPDR gold holdings fall to lowest since Oct. 11 * Asian, European stocks tumble (Updates prices)By Harshith AranyaMay 6 (Reuters) - Gold was little changed on Monday as thedollar gained after U.S. President Donald Trump threatened toraise tariffs on Chinese goods, escalating Sino-U.S. tradetensions and prompting investors to sell r...Read More
* Trump says to raise U.S. tariffs on $200 bln of Chinesegoods * Beijing says still trying to understand the situation * China vice premier due in Washington this week, may not go * By Ben Blanchard and Jeff MasonBEIJING/WASHINGTON, May 6 (Reuters) - China said on Mondaythat a delegation was still preparing to go to the United Statesfor trade talks, even as U.S. President Donald Trumpdramatically...Read More
Everyone from Iron Man to James Bond going green...Avengers: Endgame was the hit Disney was hoping for. The film has already broken numerous box office records, grossing over $2.1 billion since its release.With a budget of over $350 million, Endgame was one of the most expensive films ever made. And much of the budget went toward paying big-name stars. This is just a partial list of stars who appe...Read More
Barkerville Gold Mines Ltd. (TSXV: BGM) is focused on developing its extensive mineral rights package, located in the historical Cariboo Mining District of central British Columbia. Barkerville's Cariboo Gold Project mineral tenures cover 2,039 square kilometres; along a strike length of 67 kilometres, which includes several past producing placer and hard rock mines, making it one of the most well...Read More
Prices for flat steel products in the Brazilian domestic market remained largely unchanged this month as local steelmakers successfully applied a price increase for distributors.Fastmarkets' monthly price assessment for Brazilian domestic hot-rolled coil was at 2,560-2,610 Reais ($650-662) per tonne ex-works on Friday May 3, unchanged from April's assessment. Fastmarkets' monthly price assessment...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index was rejected one last time at 1146 resistance and rolled over, plunging through support. By week's end, the Index had tumbled 26.37 points or 2.3%.MACD slipped nearly 3 points to -4.25. RSI, our short-term momentum indicator, skidded 40% or 19 po...Read More
China's hot-rolled coil market appeared to have held up against threats of higher import tariffs in the United States on Monday May 6, though sentiment took a beating, which could result in some downside for prices.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($603-604) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedSpot prices were largely stab...Read More
Russian billet and rebar producer Abinsk Electic Steel Works (Abinsk) has entered into a definitive agreement with compatriot Severstal to buy its long-products mini-mill in Balakovo in the Volga federal district.The transaction, worth $215 million, is expected to be completed by the end of June, following the receipt of approvals and other standard conditions."Following the sale of mini-mill Bala...Read More
The threat of higher import tariffs in the United States failed to have much of an effect on China's rebar market, with domestic prices holding steady on Monday May 6 despite tumbling futures.Domestic Eastern China (Shanghai): 4,090-4,140 yuan ($607-615) per tonne, unchangedNorthern China (Beijing): 3,990-4,030 yuan per tonne, unchangedWhile rebar futures experienced a big decline during the day a...Read More