London-listed NQ Minerals plc has signed an additional marketing and offtake agreement with Traxys Europe SA, adding to an arrangement signed with the commodities firm in August. The mining company, which shipped its first lead, gold and silver concentrates from its Hellyer operation to Traxys Europe earlier this month, has now agreed to sell all the precious metal and pyrite concentrate to be pro...Read More
Antofagasta will target record copper output in 2019 while expecting the market to head into a small deficit next year, boosting copper prices, its chief executive officer Ivan Arriagada said in an interview with Fastmarkets.The London-listed Chilean copper miner has issued guidance to produce 750,000-790,000 tonnes of copper in 2019, up 8% from this year's expected 705,000-720,000 tonnes."It will...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsHowever the miner is facing an export duty of US$4.3 million and $129.8 million in penalties proposed by th...Read More
The latest metal markets news and price moves to start the North American day on Monday November 19. Base metals prices on the London Metal Exchange were mostly higher during morning trading despite hawkish rhetoric on the US-China trade relations while a softer dollar index continues to support investment. Here's how base metals prices looked at 11:33am London time:Read our live futures report he...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday November 19 * Copper -$188.77 (-1,313.54 yuan) Aluminium -$425.33 (-2,959.55 yuan) Zinc -$144.92 (-1008.41 yuan) Nickel $752.76 (5,237.96 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Look beyond market approach to project valuations: van ZylLeadershipDR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumDr Leon Pretorius' TopTung is banking on the Lac Kelly, Midrim and LaForce projects it will acquire from Me...Read More
Plate prices in the United States have held their ground over the past week, with industry participants still wondering whether the market has peaked or could see further upside in 2019.Fastmarkets AMM's price assessment for cut-to-length plate was unchanged at $49.50 per hundredweight ($990 per short ton) on Friday November 16.Lead times average six to nine weeks, according to market participants...Read More
Hot-rolled coil prices fell $1 per hundredweight - 2.5% - last week and now sit solidly below $40 per cwt ($800 per short ton).Fastmarkets AMM's daily US Midwest hot-rolled coil index dropped to $39.41 per cwt ($788.20 per ton) on Friday November 16, down 1.5% from $39.99 per cwt on the previous day and down 2.9% from a trailing five-day average of $40.60 per cwt.HRC prices started last week...Read More
(Kitco News) - Despite bitcoin falling below $5,000 on Monday, Ron Paul’s Twitter followers once again chose the popular cryptocurrency over gold in the former Republican Congressman’s annual Twitter poll.The conditions of the poll remained the same as last year: “A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift.”The catch was...Read More
(Kitco News) - Although optimism is starting to grow among gold traders, one technical analyst warns that it is still a little too early to turn overly bullish on the precious metal.In a recent interview with Kitco News, Greg Harmon, founder of Dragonfly Capital, said while gold has bounced off recent support at $1,220 an ounce, prices need to push past their October highs above $1,246 an ounce, b...Read More
CIS export slab prices continued to decline in the week ended Monday November 19, spurred by the weakening in the finished flat steel sectors both in the CIS and in the global markets, Southeast Asia in particular."Slab prices don't seem to have any upward momentum due to weak markets for hot-rolled coil [HRC] worldwide," a buyer source in East Asia said. "If the HRC [market] doesn't improve, re-r...Read More
(Kitco News) - Gold and silver prices are near steady in quieter early-afternoon U.S. trading Monday. Some backing and filling on the daily charts was seen in gold following recent good gains. December gold futures were last up $0.70 an ounce at $1,223.80. December Comex silver was last up $0.003 at $14.385 an ounce. Global stock markets were mixed in subdued, pre-holiday trading overnight. U.S...Read More
CIS export billet prices continued to soften on Monday November 19 with lower bids and offers starting to be heard in the market, after the weakening of prices for imported scrap and exports of finished long steel in Turkey and the CIS.The downturn in the Asian billet market, amid lower offers and pessimism among buyers, created by the possibility of China's return to the export market, was anothe...Read More
Photo courtesy of kevin brine/Shutterstock.com (Kitco News) - Although the gold market has been unable to maintain October’s momentum, one Canadian bank is not ready to give up on the precious metals just yet.Analysts at Scotiabank said that they see further potential for the yellow metal as the bank sees a wave of risk-off sentiment sweep through financial markets and inflation pressur...Read More
Import prices for steel slab in Southeast Asia and East Asia fell in the week to Monday November 19, on lower bids from suppliers and persistently low demand as a result of sluggish domestic hot-rolled coil sales.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on November 19, down $10 per tonne from a week earlier.Major Indon...Read More
(Kitco News) - Large speculators increased their bearish positioning in gold futures by 67% during the most recent reporting week for data compiled by the Commodity Futures Trading Commission, which analysts say accounts for much of the slide in prices during the early part of November. During the week-long period to Nov. 13 covered by the report, Comex December gold fell 2% to $1,201.40 an oun...Read More
Disappointment that United States/China trade talks are not making progress has once again dampened sentiment in the London Metal Exchange's three-month base metals prices to the extent there has been little follow through to the strength seen at the end of last week. Nickel has taken the brunt of the disappointment this morning, Monday November 19, and is showing a drop of 1.1% to $11,265 pe...Read More
The countdown is on for the blastoff in gold. The churning pattern that we are seeing now means only one thing -- a big move is coming. We all know that the big move can go either way, but all signs point to higher rather than lower. The best way to play a pattern like this is to wait for a footprint confirming direction, since trying to play inside the churning pattern typically causes more frust...Read More
Kirkland Lake Gold Ltd. (TSX, NYSE: KL; ASX: KLA) announces that David Soares is the new chief financial officer and Eric Kallio is senior vice president for exploration. Both appointments are effective immediately. The company also lists a number of internal management changes. Soares has 15 years of finance and management experience, reflecting progressively senior leadership roles with multinat...Read More
The black tungsten concentrate price in China continued to fall in the week to Friday November 16 amid weak demand, while the ammonium paratungstate (APT) market remained slow with participants awaiting further direction. Concentrates price continues downward trend APT market remains slow Ferro-tungsten prices in Europe edge up week on week on good spot demand In Europe, Fastmarkets a...Read More