The Quebrada Blanca copper mine in northern Chile. Source: Teck Resources Ltd.Teck Resources Ltd. [TECK.B-TSX; TECK-NYSE] said Tuesday December 4 that it has agreed to sell a 30% stake in its Quebrada Blanca copper mine expansion in northern Chile to Sumitomo of Japan for US$1.2 billion.As a result, Vancouver-based Teck has formally sanctioned the fully permitted US$4.7 billion project for develop...Read More
Price gains inspired by the trade developments at the Group of Twenty (G20) summit over the weekend were sold into during afternoon trading on Monday December 3, but likewise the dips have been bought into again this morning. Three-month base metals prices on the London Metal Exchange were up by an average of 0.5% on Tuesday morning, with all of the metals - bar nickel which was unchanged - in pos...Read More
* Palladium hits record high of $1,235/oz * Gold on track for second straight day of gains * Palladium could be bound for correction in shortterm-analysts * GRAPHIC-2018 asset returns: (Recasts, updates prices)By Swati VermaBENGALURU, Dec 4 (Reuters) - Gold rose to its highest inmore than five weeks on Tuesday as the dollar sagged after theUnited States and China agreed a 90-day pause on fresh tra...Read More
Share this articleVANCOUVER - Teck Resources Ltd. has sold a 30 per cent stake in its Quebrada Blanca Phase 2 project to Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. for US$1.2 billion.The Vancouver-based miner also says that its board has approved the project for full construction with first production expected in the second half of 2021.Quebrada Blanca Phase 2 is a massive undeveloped cop...Read More
In the book Hells Angels: A Strange and Terrible Saga by Hunter S. Thompson, he writes about finding the edge on a motorcycle. The edge is that ultimate point where you are pushing yourself and the bike to its limits, on the verge of crashing, but not.The Edge... There is no honest way to explain it because the only people who really know where it is are the ones who have gone over. The others-the...Read More
China's domestic hot-rolled coil prices retreated over most of the day on Tuesday December 4, but word of a meeting on pollution controls led to some late gains in the market.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($534-536) per tonne, narrowing downward by 30 yuan per tonneNorthern China (Tianjin): 3,580-3,600 yuan per tonne, down 40-50 yuan per tonnePrices in eastern China mostly hov...Read More
China's ferrous futures showed no clear trend during morning trading on Tuesday December 4, with the rebar contract being the only one to end the session significantly lower while the others were little changed from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,302 yuan ($478) per tonne, down 20 yuan per tonneMay hot-rolled coil: 3,230 yuan pe...Read More
The latest news and price moves to start the Asian day on Wednesday December 5.Positive developments in the United States-China trade dispute kept London Metal Exchange base metal prices mostly elevated at the close on Tuesday December 4, although broad strength in the dollar is capping price rallies. Read more in our live futures report.Here are how prices looked at the close of trading:Flat stee...Read More
Import rebar prices in the United Arab Emirates (UAE) went up this week but billet import prices decreased in new deals, Fastmarkets heard on Tuesday December 4.Demand was not strong because stocks were high already, market sources said.Domestic rebarThe country's largest producer, Emirates Steel, was still offering rebar at 2,016 dirhams ($549) per tonne ex-works for December production. Conares...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarOman, export, rebar, traded at $525-530 per tonne cfr, theoretical weight,...Read More
Please Note: Most US markets will be closed tomorrow for a national day of mourning. "Meanwhile, futures giant CME Group CME will shut down trading of interest-rate and futures and options products for the day, though electronic trading and trading in energy and metals futures will have a regular session, including those for oil and gold. "We are deeply saddened by the passing of President Geor...Read More
By Craig HemkeCopper is often referred to as "Dr. Copper" for its ability to foreshadow moves in other markets and the global economy in general. Today we coin the term "Mr. Palladium", as this particular metal may be offering its own bit of foreshadowing. And what might that be? Perhaps the end of the entire LBMA/COMEX Digital Derivative and Fractional Reserve Pricing Scheme. You may recall tha...Read More
By Ira EpsteinGold continues to look good as stock indices sink and US Dollar weakens. https://www.iraepstein.com/ Read More
A quick recap of the past couple of months: Stocks plunge.The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to panic.The Fed announces that maybe it won't have to raise interest rates any more, and the president announces a truce in the trade war with China. The markets bounce, leading some to conclude that the worst is over and it's time t...Read More
By Stefan GleasonU.S. government agencies could run out of operating funds starting on midnight this Friday, December 7th.At issue: President Donald Trump's proposed border wall. He wants Congress to commit $5 billion for construction of a wall along portions of the U.S.-Mexico border.The migrant caravan that recently attempted to crash the border near Tijuana has helped rally Republicans to sup...Read More
The Turkish steel scrap imports market remained quiet on Tuesday December 4, with the mills staying away from the deep-sea trade due to the uncertainty in the Asian markets.There have been a number of offers available in the market, but the mills have shown no interest so far this week.A UK supplier was said to be offering HMS 1&2 (80:20) at $313 per tonne cfr but found no takers, Fastmarkets was...Read More
Graceland UpdatesBy Stewart Thomson 1. The double bottom is the world's most stressful chart pattern. It forms after a significant price decline. The first low in the pattern creates substantial panic and fear in most investors. 2. The second low in the pattern is "softer", but no less dangerous to emotionally vulnerable investors. The volume is generally weak and the price...Read More
Originally posted at http://plata.com.mx/enUS/More/365?idioma=2 By Hugo Salinas PriceAs I was shuffling papers in some old files, I came across a slip of paper on which I had written down the price I had paid for a Mexican $50 gold peso coin: $717 Mexican pesos.Judging from the price, I figure that the purchase was made sometime in 1972, when the price of a Troy ounce of gold was $46 dollars. T...Read More
Gold continues to make headway in herky-jerky fashion, failing to satisfy bulls but also denying bears something to cheer about. On Monday, the February Comex contract rallied to within a millimeter of the 1240.20 Hidden Pivot target shown. The pullback so far has been mild, encouraging the thought that the next pop will be good for a ride to 1259.80. Another encouraging sign is that some recent...Read More
President Trump and President Xi Jinping agreed to halt escalation in their trade conflict. At the same time, the Fed officials became more cautious about the pace of future interest rate hikes. How will the softening of the US trade and monetary policies affect the gold market? Trade Truce and Gold Have you heard about the Christmas truce? It was a series of unofficial ceasefires across the W...Read More