Comex copper prices experienced further weakness ahead of world leaders converging in Argentina for the Group of Twenty (G20) meeting this weekend.The copper price for March settlement on the Comex division of the New York Mercantile Exchange fell 1.80 cents to $2.7735 per lb.Price movement is expected to be muted today with investors focusing on the weekend's G20 summit, where finance ministers.....Read More
In my last post, I mouthed off about how ridiculously expensive I feel like many World Class Tier 1 real estate assets are selling for in today’s market…Now, please keep in mind, real estate is a very broad asset class and I know how difficult (simplistic) it can be to paint a sweeping generalization of the entire sector…So, please bear with me…Anyway, with all that said, I...Read More
Working underground at SilverCrest's Las Chispas Project in Sonora, Mexico. Source: SilverCrest Metals Inc.SSR Mining Inc. [SSRM-TSX, NASDAQ] is acquiring a 9.9% stake in SilverCrest Metals Inc. [SIL-TSXV, SVCMF-OTCQX] by purchasing 8.2 million common shares of the company via a private placement.The total consideration is $30.7 million or $3.73, marking a 19% premium on the closing price of Silv...Read More
KENORA - Today Greg Rickford, Minister of Energy, Northern Development and Mines called on the Competition Bureau to review gasoline and diesel retail prices in northwestern Ontario."Our Government for the People has followed through and taken steps to cut gas prices in Ontario. Now we need to make sure those savings are being passed on to consumers across the province," said Minister Rickford. Th...Read More
THUNDER BAY - Ontario's Government for the People is investing in a new, world class facility at Lakehead University to support research and innovation, creating 67 jobs.Today, Lakehead University held the grand opening of the Centre for Advanced Studies in Engineering and Sciences. Ontario invested $5 million in the facility. "Our government for the people is proud to provide students and researc...Read More
Quartz carbonate vein breccia with pyrite and chalcopyrite from the first ever drill hole on the Cole Target, KH18-18Metallis Resources Inc. [TSX-V: MTS; OTCQB: MTLFF] is pleased to announce the second set of assay results from the Company's 2018 drilling program at its 100%-owned Kirkham Property in the prolific Golden Triangle of northwest British Columbia. The first ever drill program at the Co...Read More
The price of oil remained soft this week.Data from the EIA released Wednesday showed American crude inventories unexpectedly increasing to a one-year high.The market had actually expected a decline in inventories. Wednesday's data marks the 10th consecutive weekly increase in U.S. oil stocks and frightened off investors, pushing prices down to just $50 per barrel yesterday.Of course, OPEC was ther...Read More
Fastmarkets MB will change the names of its benchmark in-warehouse Rotterdam price assessments from January 2019. From January 2019, the name 'standard-grade' will replace the name 'low-grade'. The name 'alloy-grade' will replace the name 'high-grade'. The last date prices will be published under the names 'low-grade' and 'high grade' will be Friday December 28. Prices will be published under thei...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Domestic prices for coated-steel coil products in Turkey have increased slightly in the week ended Friday November 30 after producers ceased offering discounts, with local Turkish demand remaining limited.The local Turkish market has been slow for a long time. The initial reason was the weakening of the Turkish lira, which fell to a low of 10TRY to $1.44 on August 13, before staging a steady recov...Read More
INK CEO Ted Dixon remains skeptical that a meaningful floor has been established for stocks this fall. On the other hand, a bullish set-up for gold stocks is continuing. Those were the key takeaways from his latest interview with Jim Goddard published Thursday night.As for the broad market, INK is looking for four key signposts to confirm stocks are likely poised to move higher. At this point onl...Read More
In his latest interview with Jim Goddard, economist Mish Shedlock suggests that the best outcome of the Trump-Xi dinner summit this weekend would be a minor deal that holds off on new tariffs for a while. However, the soft but outspoken economist doesn't expect a deal.My own expectation is there is no dealMish goes on to suggest that Trump is determined to raise tariffs on China and cars, and tha...Read More
Domestic and import prices for steel coil products in Turkey have shown different trends this week with demand being affected by a variety of factors, sources told Fastmarkets on Friday November 30."I believe prices have reached bottom. We may see slight rises or falls in the next few months, but no sharp falls are expected," a source said.Fastmarkets' weekly price assessment for Turkish domestic...Read More
China hot-rolled coil exporters continued to drop their offer prices, forced by overseas buyers who have been refraining from buying on bearish sentiment.DomesticEastern China (Shanghai): 3,590-3,610 yuan ($517-520) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,470-3,480 yuan per tonne, down 20 yuan per tonneAlthough prices in eastern China picked up a bit on Friday as some downs...Read More
Demand for steel in the Middle East is expected to increase marginally over the next five years, mainly because of big construction projects, professionals from across the sector told Fastmarkets in a survey before the 22nd Middle East Iron & Steel Conference to be held in Dubai this December.Infrastructure construction is going on in the United Arab Emirates related to the Dubai Expo 2020 exhibit...Read More
China's rebar prices dropped in both the domestic and the export markets on Friday November 30, amid low trading activity. Domestic Eastern China (Shanghai): 3,800-3,830 yuan ($547-551) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,520-3,550 yuan per tonne, down 10 yuan per tonneLow rebar futures prices led to little buying interest in the domestic market, pushing down prices. Stock...Read More
CloseGain/LossOn WeekGold $1221.70-$2.20-0.09%Silver$14.17-$0.13-0.49%XAU64.46-0.52%-1.24%HUI145.04-0.93%-1.88%GDM531.74-0.56%-1.54%JSE Gold1098.81-25.26-3.68%USD97.19+0.41+0.29%Euro113.20-0.69-0.08%Yen88.21-0.09-0.62%Oil$50.93-$0.52+1.01%10-Year3.002%-0.027-1.22%Bond140.71875+0.59375+0.49%Dow25538.46+0.79%+5.16%Nasdaq7330.54+0.79%+5.64%S&P2760.16+0.82%+4.85% The Metals: ...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
By Ira EpsteinThe outcome of the G-20 Meeting will determine metal prices come Sunday night.https://www.iraepstein.com/ Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort156,779154,90865,544172,358188,458394,681408,910Change from Prior Reporting Period -8,727-1,702-49,840-28,901-35,941-87,468-87,483Traders139101865152239199 Small Speculators (C) GoldSeek.com LongShortOpen Interest 48,12033,891442,801 4,3294,344-83,139 non reportable positionsC...Read More