Brazilian miner Vale will be investing an additional $500 million in VNC, its nickel operations in the South Pacific country of New Caledonia on expectations of increased demand from rising electric vehicle (EV) output, chief executive officer Fabio Schvartsman said on Tuesday December 4. The executive also announced during the annual investor presentation in the New York Stock Exchange an ag...Read More
By the time of his death in 1937, John D. Rockefeller had amassed a wealth of roughly $340 billion in today's dollars.That's four times what Bill Gates had last year.And just to put a little bit more perspective on this astronomical figure, consider that when Rockefeller was laid to rest, his oil fortune was equal to 1.5% of America's total economic output.Sit back and think about that for a seco...Read More
Image Resources NL (ASX: IMA) is Australia's newest Mineral Sands producer, following the recent development of its high-grade, zircon-rich Boonanarring Project in the North Perth Basin in Western Australia. We learned from Patrick Mutz, Managing Director of Image Resources, that they have been in the process of constructing a mine and a processing facility, since the first of April 2018, and, in...Read More
The Wednesday Market Minute Global stocks slide following last night's sharp selloff on Wall Street amid increasing question over the fate of U.S. China trade talks.Bond markets steady after flashing recession signals Tuesday, with the spread between 2-year and 10-year yields rising to 10.5 basis points.Global oil prices drift lower after a stronger-than-expected buildup in U.S. crude supp...Read More
Trading activity in China's domestic hot-rolled coil market picked up on Wednesday December 5 on concerns among buyers that prices would increase further in the days to come, sources told Fastmarkets MB.DomesticEastern China (Shanghai): 3,730-3,770 yuan ($545-551) per tonne, up 40-70 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, up 50 yuan per tonneWhile prices in Shanghai we...Read More
China's ferrous futures moved up during morning trading on Wednesday December 5, with the hot-rolled coil contract taking the lead in the uptrend.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,407 yuan ($498) per tonne, up 27 yuan per tonneMay hot-rolled coil: 3,329 yuan per tonne, up 32 yuan per tonneDalian Commodity Exchange May iron ore: 472.50 yuan per tonne, u...Read More
The price for rebar produced and delivered in Northern Europe stayed flat week on week on Wednesday December 5, with consumers unlikely to make further purchases before the new year.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe remained at $540-560 ($614-637) per tonne delivered on Wednesday. Offers were expected to remain above the range for the rest of December and i...Read More
Hollow steel sections prices in Europe were stable this week but lower feedstock costs and a reduced import quota limit could bring about a significant change, market participants said.Fastmarkets MB's domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was an unchanged ?,?635-650 ($722-739) per tonne delivered on Wednesday December 5.The hollow...Read More
The price for rebar produced and delivered in Southern Europe was flat on Wednesday December 5, with market participants pulling back in anticipation of the year-end holidays.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?530-540 ($603-614) per tonne delivered for the third consecutive week on Wednesday, with no new business expected before the new...Read More
Turkish steel producers resumed their deep-sea scrap bookings as soon as they received lower prices from a European supplier, sources said on Wednesday December 5.Mills in Turkey were looking for prices at around $300-305 per tonne cfr for HMS 1&2 (80:20) while the offers for the material were firm at $310-320 per tonne cfr from suppliers in the United States and the Baltic Sea.But a steel mill in...Read More
Seaborne iron ore prices rose on Wednesday December 5 on an uptick in the iron ore futures contract.MB 62% Fe Iron Ore Index: $67.38 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.65 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.21 per tonne cfr Qingdao, down by $0.19 per tonne.MB 58% Fe Premium Index: $61.85 per tonne...Read More
By Jp CortezThe Great Recession, coupled with the "Ron Paul Revolution," prompted a renaissance of the sound money movement in the United States.As Germany, Russia, and China -- to name a few -- continue to increase their gold holdings, the hegemonic power of Federal Reserve Notes (referred to today as the dollar) is slowly slipping away.Simultaneously, whispers once relegated to fringe corners...Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his.Official US national debt exceeds $21 trillion. National debt increases over $3 billion per day.Another day older and $3 billion deeper in debt!The U.S. government pays the interest by issuing new debt. But that new debt increases total debt and (eventually) drives up interest rates, which requires more borrowing to...Read More
By Gary Tanashian"The Harbinger of Doom"? Of course we (well, the media) are talking about the yield curve AKA Amigo #3 of our 3 happy-go-lucky riders of the macro. I have annoyed you repeatedly with this imagery in order to show that three important macro factors needed to finish riding before situation turns decidedly negative.Amigo 1: SPX (or stocks in general)/Gold RatioAmigo 2: 30 Year Trea...Read More
Dear Friend of GATA and Gold:In his November 16 edition, our old friend Jay Taylor, publisher of Jay Taylor's Gold, Energy, and Tech Stocks newsletter --https://www.miningstocks.com/-- wrote extensively about gold market manipulation and credited GATA for proving it. Taylor went on to present a chart of morning and afternoon gold price fixes from the London Bullion Market Association showing tha...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
We'll be trusting Santa rallies a tad less as a result of Tuesday's take-no-prisoners selloff. Mainly, it'll be a matter of keeping the word "DISTRIBUTION!!!" well in mind every time shares take even a few mincing steps higher. That goes for AAPL as well, my one-size-fits-all bellwether. The stock had switched on the charm Monday, all but shouting "Buy me!" from the rooftop as the session ended....Read More
- Gold's "setup" is "similar to natural gas before its big rally"- Gold is gaining favour over stocks, bitcoin and cryptos- Metals may be primary beneficiaries of imminent greenback peak- Silver "appears ready for a potential longer-term recovery"- GoldCore editors note: Natural gas is 56% higher year to dateby Bloomberg Intelligence (appeared first on the Bloomberg Terminal)Metals should be pr...Read More
Vale has hailed the launch of a derivative contract by the Singapore Exchange (SGX) on Monday December 3 as a positive development for the high-grade iron ore market."The new 65% Fe derivative contract launched by SGX is a good move, and it shows interest in market for high-grade products," Peter Poppinga, executive director ferrous minerals, said at at company investor day on Tuesday December 4.P...Read More