Most investors are cautious. Nothing is rising, be it stocks, commodities or bonds. Sitting on cash is the favorite pastime of traders and investors. There will be short term certain direction after the G20 meeting and US November nonfarm payrolls on 7th December. It is just keeping a hawk eye and making the right investment. Do invest with the herd. Herd trading can result in more losses than p...Read More
Published 21 Hours AgoUpdated4 Hours AgoReuters Umit Bektas | ReutersGold fell to its lowest in more than a week on Tuesday as the dollar rallied after comments from U.S. Federal Reserve Vice Chair Richard Clarida bolstered expectations that the central bank would continue hiking interest rates.Spot gold fell 0.66 percent to $1,21418 per ounce, after touching its lowest since Nov. 16 at $1,213.94...Read More
A lack of sufficient alumina supply has caused European aluminium producer Trimet to cut alumina input at its plants in Germany and France by 10%, the company told Fastmarkets. "Trimet expects to resume to full capacity in early 2019," Thomas Reuther, member of the board at Trimet Aluminium SE, said in a statement, referring to primary production that uses alumina as a raw material. The company co...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
Drilling operatiuons at Tinka's Ayawilca Project in Peru. Source: Tinka Resources Ltd.Tinka Resources Ltd. [TK-TSXV] has announced an updated mineral resource estimate for its 100%-owned Ayawilca zinc and tin deposits in Peru.The 150 km2 Ayawilca project is located 40 km northwest of Cerro de Pasco in the richly mineralized silver-lead-zinc belt of central Peru. It ranks as one of the largest zinc...Read More
Comex copper prices remained under-pressure Tuesday morning in the US amid reduced trading activity, a stronger dollar and anticipation over Chinese and US leaders' meeting in Argentina later this week.The copper price for December settlement on the Comex division of the New York Mercantile Exchange in the United States declined 2.40 cents to $2.7315 per lb. Ahead of the G20 meeting in Argent...Read More
The Genesee generating facility. Source: leduc-chamber.comAltius Minerals Corp. [ALS-TSX; ATUSF-OTCQX] said the Genesee Ltd. Partnership, of which Altius is the General Partner, has filed a law suit against the governments of Alberta and Canada.The law suit claims $190 million in damages while describing actions that it feels were tantamount to expropriation of its royalty interest in the Genesee...Read More
One of the greatest compliments that I think I can ever receive in life is if someone who really knows me tells me the following:“Jay, I’ve known you for a long time now, and you’re always the same dude.”The above comment might not seem like much, and albeit it can read rather vague if there’s no context behind it, but for a simple dude like myself, that’s reall...Read More
The Tuesday Market Minute Global stocks drift lower as Trump appears to dismiss chances of a breakthrough on trade talks with China later this week in Argentina.European currencies slide as ECB President Draghi warns on global trade, investors question Theresa May's Brexit deal, sending both the euro and the pound lower against a firming U.S. dollar.Oil prices give back Monday's gains, sending B...Read More
Share this articleCALGARY - Precision Drilling Corp. says it is entitled to a $20-million break fee after Ensign Energy Services Inc. announced Tuesday that it will take control of Trinidad Drilling Ltd. by acquiring a majority of Trinidad's shares.Calgary-based Precision, the largest driller in Canada, said the fee is owed as part of the Oct. 5 arrangement it had with Trinidad after terminatin...Read More
Share this articleCALGARY - Ensign Energy Services Inc. says it will take control of Trinidad Drilling Ltd. after acquiring a majority of the company's shares by its Tuesday deadline.The Calgary-based drilling company says 56.38 per cent of Trinidad shares have been tendered. The 154.1 million shares are in addition to the 26.9 million it also owns, raising its stake in Trinidad to 66.18 per cen...Read More
Here is the chart of Sotheby's (NYSE: BID).The company sells fine art, decorative art, jewelry, wine, and collectibles internationally. It most recently sold Marie Antoinette jewels for $53.2 million, which set a record. On the downside, a $40 million Vincent van Gogh failed to sell at all.In the latest quarter, revenue fell by two-thirds, and the company lost $27 million. What you may not know is...Read More
Share this articleWABUSH, N.L. - The Labrador mining town of Wabush is in for a much-needed economic boost as one of Canada's largest iron ore mines restarts production next year.Premier Dwight Ball was in Wabush today to announce the official reopening of the Scully mine, with hiring for 260 new jobs to begin over the next few weeks.Hundreds of people lost their jobs when Cliffs Natural Resou...Read More
(Adds May comments)LONDON, Nov 27 (Reuters) - British Prime Minister TheresaMay rebutted U.S. President Donald Trump's warning about thefuture of anglo-American trade, saying a trade deal was possibleand that work towards it was making good progress.Trump said on Monday the agreement by which the UnitedKingdom will leave the European Union may make trade betweenWashington and London more difficult...Read More
Flat steel import prices in Saudi Arabia and the United Arab Emirates (UAE) have decreased slightly over the past seven days due to weak demand and lower offer and deal prices, sources told Fastmarkets on Tuesday November 27.Demand remained poor because buyers did not wish to build inventory before finalizing their year-end accounting procedures. Prices could continue to fall, sources said, but th...Read More
China's hot-rolled coil prices continued to fall albeit at a slower pace on Tuesday November 27 both in the domestic and export markets amid soft demand.DomesticEastern China (Shanghai): 3,570-3,590 yuan ($514-517) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,520-3,530 yuan per tonne, down 30 yuan per tonneHRC futures started declining since trading began during the day after peaki...Read More
The golden era of the Vietnamese steel markets is coming to an end.After a decade of rapid growth, market participants are expecting steel demand in Vietnam to continue to taper off next year after peaking in 2017."We do not expect to see the kind of phenomenal growth for downstream steel products in both the domestic and export markets from 2019," a director in charge of flat steel exports at a V...Read More
The latest news and price moves to start the Asian day on Wednesday November 28.Base metal prices on the London Metal Exchange were lower at the close of trading on Tuesday November 27, with the three-month tin contract hitting its lowest point since August 2016 due to strength in the dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:BHP has foun...Read More
Steelmakers in Colombia requested that their government conduct a safeguarding investigation into imports of rebar from all origins earlier this month.The request for an investigation was submitted to the ministry of trade, industry and tourism on November 1. Interested parties were required to send in relevant comments by November 23. The request included only imports from countries with which Co...Read More
Rebar suppliers to Russia's Central Federal District, the major steel-consuming region in the country, have cut their prices because of a downtrend in the secondary market.Fastmarkets' weekly assessment of the domestic price for Russian 12mm A500C rebar, including 18% VAT, decreased to 36,500 roubles ($546) per tonne cpt Moscow on Monday November 26, compared with 38,000 roubles per tonne last wee...Read More