Markets Trade War Gold Oil Equity markets are marginally in the red again on Thursday, with US futures in a similar position, as investors continue to weigh up the ongoing trade war threat for the global economy and markets. It’s been quite the couple of weeks on the trade war front. We’ve gone from a deal being close to done, to talks collapsing and tariffs imposed and now T...Read More
Metals trader Glencore has reshuffled its cobalt team, with David Brocas leading the company's cobalt trading since Franck Schulders has gone on sabbatical.The changes took effect in the past few weeks, Glencore told...Read More
Michael Dornhofer left tungsten powders supplier Wolfram Bergbau und H? 1/4 tten (WBH) at the end of April, Fastmarkets has learned.Dornhofer had been Austria-based WBH's director of sales and purchasing for tungsten-containing raw materials...Read More
The market "wizard" and influential trader turned crypto pumper has just declared silver dead. The riggers MUST BE DESPERATE for physical. Here's why...Yes.Oh my.Connectin' dots.An all-out freakin' assault!A scramble to get real physical.It's too obvious now, just connect the dots.We know the cartel must be low on physical gold.The desperation really picked up a couple of years ago when the cartel...Read More
With the US at the top of both the economic & business cycles, everything's lining up for the metals to shine. Here's the bullish case for gold & silver...Tavi Costa interviewed on Palisade RadioTo subscribe to our newsletter and get notified of new shows, please visit http://palisaderadio.comTavi discusses his bullish thesis for gold. Their strategy is to look at historical trends for value-oppor...Read More
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying over the afternoon. The upward momentum in the three-month aluminium futures continued throughout the afternoon trading session, with the light metal settling at $1,860 per tonne, its highe...Read More
Silver Miners (SIL) have lost over 50% since the highs back in 2016. Is this large of a decline enough to present a buying opportunity?No doubt the multi-year trend for SIL remains down at this time. The long-term decline and the decline over the past few months has it testing last years lows again at (1).While testing the lows it finds itself at the apex of a falling wedge pattern at (1). Is a "...Read More
Seaborne iron ore prices jumped closer to the $100-per-tonne-cfr mark while setting a five-year high on Thursday May 16 amid bullish market sentiment.MB 62% Fe Iron Ore Index: $99.21 per tonne cfr Qingdao, up by $2.26 per tonne.MB 62% Fe Pilbara Blend Fines Index: $97.40 per tonne cfr Qingdao, up by $1.77 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $102.80 per tonne cfr Qingdao, up by $4.27 pe...Read More
China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to...Read More
Polish miner KGHM (WSE:KGH), Europe's second-largest copper producer, hit record output in the first three months of the year, thanks partly to improved production at its money-sucking Sierra Gorda mine in Chile.The state-controlled company, which has been criticized for the steep investment allocated to developing the Chilean asset ($5.2B and counting), churned out 142,000 tonnes of copper in t...Read More
Azerbaijan's leading gold mining company, Anglo Asian Mining, said on Thursday its gold output rose 22% in 2018 to 72,798 ounces from 59,617 ounces in 2017.London-listed Anglo Asian produces gold at Gedabek and other Azeri mines in a joint venture with the Azeri state in which the company holds 51%.The company said its total production of gold-equivalent ounces (GEO), which includes other metals,...Read More
Horizons ETFs Management (Canada) has launched the Horizons Global Uranium Index ETF. Units of the ETF will began trading Thursday on the Toronto Stock Exchange under the ticker symbol HURA.HURA is the first ETF in Canada to provide direct exposure to the global uranium sector - a universe of companies with a combined value of approximately C$15 billion. Globally, Canada is ranked as the second-la...Read More
Turkish domestic prices for rebar and wire rod have gone down over the past week with a strengthening of the country's lira, sources said on Thursday May 16.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,250-3,350 ($538-555) per tonne ex-works on May 16, down from last week's TRY3,330-3,420 per tonne, including 18% VAT.The domestic rebar price in the Izmir region was TR...Read More
The Turkish deep-sea scrap markets went quiet on Thursday May 16, with suppliers withdrawing their offers because of rumors that the United States will remove the doubled Section 232 tariff on Turkey-origin steel products, sources said.The head of the Turkish parliament's foreign affairs committee, Volkan Bozkir, met with the charge d'affaires of the US embassy, Jeffrey Hovenier, in Ankara on May...Read More
TORONTO - Horizons ETFs Management (Canada) is pleased to announce the launch of the Horizons Global Uranium Index ETF. Units of the ETF will begin trading today on the Toronto Stock Exchange under the ticker symbol HURA.Cameco's McArthur River Mine. Courtesy of Cameco.HURA is the first ETF in Canada to provide direct exposure to the global uranium sector - a universe of companies with a combine...Read More
Recent optimism for an uptrend in global alumina prices has been knocked by the news that the Federal Court in Bel?(C)m, Brazil, has removed a production embargo on Norsk Hydro's Alunorte alumina refinery, sources told Fastmarkets on the sidelines of the Alumina & Bauxite conference in Zhengzhou, China on May 16-17. This is the first of two production embargoes that need to be removed but sou...Read More
Aluminium's three-month price on the London Metal Exchange appreciated during morning trading on Thursday May 16, climbing to an intraday high of $1,864 per tonne after it was buoyed by a fresh cancelation of 33,050 tonnes. The climb marks the light metal's highest price since April 26, but its three-month price has not traded above $1,900 per tonne since April 5, despite more than 400,000 tonnes...Read More
Although metals markets were mixed this morning, Thursday May 16, the downward trends on the charts seem to have halted; key now will be whether buying and short-covering follows. At least US President Donald Trump's delaying for six months his decision on whether to impose tariffs on imported vehicles and vehicle parts from Japan and Europe has not further broadened the trade war.US treasury yiel...Read More
The Federal Court in Bel?(C)m, Brazil, lifted a production embargo on Norsk Hydro's Alunorte alumina refinery under the civil lawsuit on Wednesday May 15. This is the first of two production embargoes that need to be lifted before the refinery can resume full operations. Alunorte is still subject to a production embargo imposed by the same court in a parallel criminal lawsuit. Alunorte will contin...Read More