By Avi GilburtI am hoping that the title to this article will mark the local top to the rally off the December 2018 lows in Bitcoin. (smile) But, that does not change our perspective that it is likely that Bitcoin has resumed its bull market run.As we came into 2019, Ryan Wilday and I have been publishing articles about Bitcoin, with our ideal targets for the initial rally off its December 201...Read More
The alumina price on the Chinese spot market is likely to break through this year's peak and move up even further in response to the local authorities' investigation into Xinfa Group regarding the chemical leakage in its alumina smelters in Xiaoyi city, Shanxi province in China, sources told Fastmarkets on May 10."The sentiment has become totally different compared with two days ago and we have se...Read More
Some Chinese ferro-alloys and minor metals prices wavered in a week when the United States raised the import tariff on a number of commodities from China on Friday May 10.The US raised import tariffs on $200 billion-worth of Chinese products to 25% from 10% at noon Asia time on Friday. This followed a threat on Sunday by US President Donald Trump to raise tariffs ahead of a new round of trade talk...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, May 10 (Reuters) - Copper and other industrialmetals rebounded on Friday on hopes that a U.S.-China trade dealwould be hammered out, but they remained vulnerable to furtherfriction between the world's two biggest economies. Negotiators in Washington agreed to stay at the table for asecond day on Friday even after the...Read More
Primary aluminium foundry alloy premiums in Europe were steady on Friday May 10 in a quiet market, while bearish sentiment from the automobile industry continued to cap premiums. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms was assessed Friday at $340-360 per tonne, steady from April's assessment the...Read More
The global ferrous scrap trade continued to soften during the week ended Friday May 10 due to negative sentiment and weak demand in the major markets. Political disturbances in Turkey put more pressure on mills US export prices on both coasts fall Lower Kanto tender, Turkish lira drive down spot prices in Asia Indian market still subdued by general election process.Turkey importsTurkish steel prod...Read More
Austenitic alloy steel scrap prices in Europe and the United Kingdom weakened this week because of further falls in nickel prices, sources told Fastmarkets MB.The three-month official nickel price on the London Metal Exchange was $11,900/11,925 per tonne on Friday May 10, down from $13,180/13,200 per tonne a month earlier. This drop of 10% over the preceding month was not initially tracked by aust...Read More
Shares of Nio (NASDAQ:NIO) were downright explosive earlier this year. Nio stock was putting in a series of higher lows and ripped above $10 on optimism that its electric vehicle was seeing stronger-than-expected demand.Source: ShutterstockThen it reported earnings, and it wasn’t pretty.Shares cratered, falling more than 30% from above $10 to $7 in just three trading sessions. A few weeks la...Read More
While US-China trade talks continue, the market seems to be clinging on for an eleventh-hour deal this morning, Friday May 10, because key markets are holding up surprisingly well.But, if a deal does not miraculously emerge soon then further disappointment is likely to set in.US raises tariffs on $200 billion worth of Chinese imports to 25% China's CSI 300 is up by 3.2%, other Asian equity markets...Read More
HAMILTON - Ontario's government is working for the people by holding consultations to hear from businesses firsthand on industrial electricity pricing and programs.Paul Calandra and Ross Romano, Parliamentary Assistants to the Minister of Energy, Northern Development and Mines, met with steel sector stakeholders in Hamilton today. This session is one of several in-person consultations to be held w...Read More
The Friday Market Minute Global stocks rebound despite the U.S. increasing tariffs on China-made goods as investors hope a narrow window in application will pave the way for a trade deal.Tariffs increased to 25% from 10% on $200 billion worth of Chinese imports, but wont' apply to goods already in transit, leaving a two week window during which Washington and Beijing can continue to negotiate.Ch...Read More
An overview of the battery raw materials markets and their price moves.Read More
The Chinese domestic battery-grade lithium hydroxide price dropped by more than 5% week on week due to ample stocks and buyer reticence, while there was good demand for technical and industrial grade carbonate from lithium manganese oxide (LMO) and lithium iron phosphate (LFP) battery manufacturers, supporting the price in the latest pricing session. The lithium hydroxide market moved down in Chin...Read More
As a gold and precious metals guy, I'm very often asked about investing in collectible coins.And I've always thought that was kind of odd. What do collectible coins have to do with gold?I mean, you wouldn't ask a farmer about fishing poles. You'd probably ask a fisherman.Still, there does exist an undeniable connection between precious metals and collectible coins. And you'll find that many (if no...Read More
Avrupa Minerals Ltd. (AVU: TSXV) is a project generator, focused on politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany. At PDAC2019, we learned from Paul Kuhn, CEO and President of Avrupa Minerals, that their flagship Alvalade VMS Project is a 100%-owned self-funded project, located in the Pyrite Belt of south Portugal, where they recently had a successfu...Read More
The price of some steel coil products in Turkey increased over the seven days to Friday May 10, but buying activity remained subdued, sources told Fastmarkets this week.With demand remaining weak in the local market, producers did not want to reduce prices because that would lead to a further reduction in demand as buyers would hold out for even lower prices, sources said.However, demand...Read More
Coated flat steel prices in Turkey fell over the week ended on Friday May 10, with demand weak in the domestic market.Demand in the local market remained poor because of the continuing weakness in the Turkish lira and uncertainty following elections.The lira was trading at TRY100 to $16.27 on May 10 compared with TRY100 to $17.47 on April 12 and TRY100 to $18.76 on March 1, according to exchange r...Read More
In our April 29th Insights newsletter, we described how investors had returned to the Bernanke-Obama-Yellen (BOY) playbook by piling into large-cap growth situations to take advantage of loose monetary policy during a period of lacklustre economic growth. This time around, however, monetary conditions are not as accommodating as rates are no longer at zero and QE is long finished. To get a sense...Read More
German industrial conglomerate ThyssenKrupp is planning to cut 6,000 jobs over the next three years, including 2,000 jobs in its steel business, chief executive officer Guido Kerkhoff said in a conference call on Friday May 10.ThyssenKrupp remains open to consolidation opportunities for its European steel business, which will be reintegrated into the parent company, following news of the European...Read More