The creator of one of the world's largest indoor rainforests, UK-based charity The Eden project, has partnered with aluminum giant Alcoa (NYSE:AA) to build a $150 million eco-tourism attraction at the company's former Anglesea coal mine, in Australia.The parties estimate the project could create 300 full-time jobs and attract thousands of visitors if it gains the support of the community, finds f...Read More
Nutrien, the world's largest fertilizer company says it plans to reduce production capacity at a potash mine west of Saskatoon later this year, a decision that is expected to result in around 80 job losses.The company will cut 20 full-time salaried staff and 60 workers who are paid hourly from its Vanscoy mine in the third quarter of 2019.Continue reading...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesAccording to Piggott, who owns about 7% of Core Gold's shares, "the Titan-Core arrangement is a paper deal that is not in the best interest of Core Gold shareholders".Read More
Broader tensions masking still-constructive fundamentals With the US-China trade dispute escalating again and now geopolitical tensions between the US Iran rising, there is less and less appetite for risk in financial markets. Base metals continue to feel the fallout, despite plenty of signs of tightness in the fundamentals. Aluminium: Base-building amid cross currents There are many cross-current...Read More
Midwest premium to retreat after Section 232 tariffs removed from Canada and Mexico President Trump announced last week the United States has reached an agreement to remove Section 232 tariffs from Canada and Mexico. Following the removal, we believe the US Midwest premium should drop from the current elevated levels. Prior to the implementation of 232 tariff, the US Midwest premium was trading at...Read More
Aluminium LME aluminium’s May 2019 low at $1,784 per tonne remains under threat and a negative break below this level could encourage more technical selling to emerge in the short term. Its daily RSI and stochastic lines have slid lower too, threatening more downside for prices. Given its bearish technical configuration, the LME aluminium price needs to quickly regain confidence by tradi...Read More
Poor macro dynamics Although LME copper prices found some support at $6,000 per tonne last week, a break below this key level is likely imminently due to the macro negativity stemming from tense US-China relations. The re-escalation in the US-China trade and technology dispute has resulted in a confluence of macro headwinds for copper including a stronger dollar, a weaker yuan, and a reduction in...Read More
China puts tariff on concentrate imports from USA China is keeping a 10% tariff on US lead concentrates imports. Last year, China imported 71,000 tonnes of lead in lead concentrates from the US, some 10% of its total lead concentrate imports, which was down from an average of around 150,000 tonnes over the 2015-2017 period. While this is affecting the already beleaguered Chinese smelting industry,...Read More
Q1 results add to list of supportive fundamental factors We noted in our nickel analysis last week that outside of the broader macro and geopolitical issues weighing on the base metals at the moment, the nickel market’s own fundamentals are contributing to price sentiment via a combination of both positive and negative factors. The positives include strong EV sales data, environmental inspect...Read More
LME tin relatively resilient amid the US-China trade/tech dispute LME tin has proven relatively more resilient than most of the other base metals in the face of the re-escalation in the US-China trade spat earlier this month. Although tin is usually less sensitive to the macro backdrop and more responsive to its fundamental dynamics, it can occasionally have a high systemic risk, as was the case i...Read More
Trade uncertainties weigh on prices Zinc prices are retesting support below $2,600 per tonne at the start of this week after the three-month benchmark stalled Thursday at $2,646.50 per tonne. Escalating trade tensions are at the root of the weakness, with Chinese authorities announcing an increase in duties on $60 billion worth of US goods from June 1 in retaliation to higher tariffs imposed by th...Read More
The recent downtrend in Chinese domestic ferro-silicon prices continued in the week ended Friday May 17 amid an abundance of the material, while sentiment remained bearish due to weak demand from the country's steel and magnesium markets. Chinese market extends losses amid ample supply. Sluggish demand compounds weakness in China. European market steady, further cements price floor. US market flat...Read More
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Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.Home Depot slipped $1.20 to $189.75 despite reporting higher than consensus first quarter earnings.Autozone gained $22.17 to $1000.00 after reporting higher than consensus fiscal third quarter earnings. Kohl's dropped $5.91 to $57.00 after reporting lower than consensus first quarter sale...Read More
Fastmarkets MB is proposing to discontinue the stainless steel 304 Europe raw materials index. Fastmarkets is seeking feedback on its proposal to discontinue the EU domestic stainless steel 304 Europe raw materials index.This index, which aims to represent the costs of the raw materials needed to produce grade-304 stainless steel, is updated weekly on a $ per tonne basis. The consultation per...Read More
Stainless steel mills and ferro-chrome smelters in China are likely to curtail their production in June, should domestic stainless steel and ferro-chrome prices continue to weaken amid lingering poor demand and prevailing bearish sentiment, sources told Fastmarkets. Some Chinese stainless steel mills, which are already suffering losses, may have to curtail part of their production next month if do...Read More
Currency fluctuations knocked chrome ore buying interest in China in the week ended Friday May 17 due to higher import costs, causing UG2 and Turkish lumpy chrome ore prices to tumble week on week. Ore prices drop after yuan depreciation raises import costs.Domestic and imported alloy prices drop in China. South Korea and Japan markets flatline in thin trading. European alloy prices dip on weak d...Read More
Despite a large body of science supporting the benefits of taking naps, I almost never sleep during the day.But this past Saturday, after a full morning watching my daughter compete in the West Coast surfing championships, I felt pretty worn out. And with a big group dinner planned for that night, I went back to our Airbnb in need of a recharge.Most people would just crawl into bed. Me? I have to...Read More
May 21, 2019 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") is pleased to announce that Phase One of the 2019 exploration program will begin on June 1st. The program will focus on the 660-km2 Rau Project, located at the western end of its Rackla Gold Property.This year's program will follow-up on high-grade gold, copper and silver results from 2018, as well as additional exploration op...Read More