WASHINGTON (Reuters) - The U.S. government on Wednesday refrained from naming China or any other trading partner as a currency manipulator, as it leans on import tariffs to try to cut a trade deficit with China.In its semi-annual currency report, the U.S. Treasury Department said a recent depreciation of China’s yuan currency will likely exacerbate the U.S. trade deficit, but U.S. officials...Read More
Vale's cobalt production fell 31% in the third quarter of 2018 mainly due to decreased output from its Sudbury and Voisey's Bay operations. Vale produced 1,028 tonnes of cobalt in the three months to the end of September compared with 1,489 tonnes in the same quarter of 2017. A 22.5% fall in third-quarter production from Voisey's Bay to 371 tonnes from the previous quarter was caused by scheduled...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Ningxia Tianyuan, the world's largest manganese flake producer, is expected to resume production at its 800,000-tonne-per-year capacity site in December, sources told Fastmarkets MB. The company is currently operating at a reduced capacity of 600,000 tpy after it suspended one of its production lines in May, according to the sources. Ningxia Tianyuan, which accounts for around 40% of global mangan...Read More
Ah, Saudi Arabia, land of heat and contradictions. One day they're jailing women's rights activists for wanting to drive, the next day they're dismembering still-living Washington Post journalists. And yet they can count the world's capitalist democracies as friends, because today's dysfunctional economic/geopolitical system depends on both Saudi oil and Saudi willingness to keep their (apparently...Read More
The Turkish deep-sea scrap market showed signs of renewed activity on Thursday October 18, with prices being pushed upward by rumors of a new cargo booking.So far this week, no deep-sea cargo bookings have been heard, but rumors of a European cargo being sold were circulating on the market today. But the details began to emerge...Read More
NEW YORK (Reuters) - The U.S. dollar index traded near one-week highs on Thursday as Treasury yields edged higher, after minutes from the Federal Reserve’s September meeting showed that Fed policy makers are largely united on the need to raise borrowing costs further.That came despite U.S. President Donald Trump’s view that interest rate hikes have already gone too far.Benchmark 10-yea...Read More
Garibaldi Resources' land position in the Golden Triangle region of northwestern British Columbia. Source: Garibaldi Resources.Garibaldi Resources [GGI-TSXV; GGIFF-OTC] reports that the continuing drill program at Nickel Mountain in the Golden Triangle region of northwest British Columbia, combined with surface sampling of new massive sulphide outcrops exposed by melting ice and snow, has confirme...Read More
MOSCOW, Oct 18 (Reuters) - A U.S.-China trade war could shave 0.1 to 0.2 percentage points off Russia's economic growth in the short term, the Russian central bank said on Thursday, adding there were risks of a slowdown by year-end.In an analytical note, the bank also said Russia's annual inflation in September continued to move towards its target of 4 percent. (Reporting by Katya Golubkova Editin...Read More
(Reuters) - U.S. stocks opened lower on Thursday as some industrials reported disappointing results, while the Federal Reserve's minutes showed officials broadly agreed on raising interest rates further, fanning concerns that contributed to last week's sharp selloff.The Dow Jones Industrial Average fell 61.12 points, or 0.24 percent, at the open to 25,645.56. The S&P 500 opened lower by 7.21 p...Read More
(Updates prices, adds comments and chart) * Inflows to gold funds show positive sentiment - analyst * Dollar index near one-week high* Silver and platinum slip to lowest in a week By Sumita Layek and Arpan VargheseBENGALURU, Oct 18 (Reuters) - Gold edged higher on Thursday,supported by an improved technical outlook that helped the metalhold out against a stronger dollar.Spot gold rose 0.1 percent...Read More
TIANJIN, China (Reuters) - A rebound in mining mergers and acquisitions is set to continue into 2019, led by companies from top metals consumer China, as a dearth of exploration spending leaves the industry in need of fresh investment, delegates told a conference on Thursday.Sector M&A in mining powerhouse Canada had its best quarter in more than seven years in July-September, spurred by Barri...Read More
The Thursday Market Minute Global stocks weaken as investors re-price risk following a hawkish reading of the latest Fed minutes that suggests near-term rate hikes will continue as the domestic economy expands and inflation accelerates.China stocks fall to a four-year low in the face of a firmer dollar and rising bond yields, with little relief coming from a U.S. Treasury report that stopped sho...Read More
Nordic Gold's Laiva gold mine in Finalnd. Source: Nordic Gold Corp.Nordic Gold Corp. [NOR-TSXV; FIEIF-OTC; 2FN-FSE] has reached an agreement with PFL Raahe Holdings LP to provide US $7-million in additional financing to enable the company to reach production at the Laiva gold mine in Finland. PFL is an investment vehicle controlled by Pandion Mine Finance Fund LP.The mine is a past producer, is fu...Read More
(Reuters) - U.S. stock futures fell on Thursday after the Federal Reserve’s minutes showed policy makers broadly agreed on the need to raise interest rates further, fanning concerns that triggered a brutal selloff last week.The Fed’s view, detailed in the minutes of its September meeting released on Wednesday, bolsters expectations of a fourth interest rate increase in December and cha...Read More
The Comex copper price tumbled in the morning on Thursday October 18 after the US Federal Reserve indicated another interest rate rise is imminent. The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped 4.10 cents to $2.7370 per lb. The broad-based weakness in the base metals follows a rebound in the dollar after the minutes from the US Federal Op...Read More
Drilling to date is limited so true widths cannot be definitively determined. However, based on the geology of the vein zone with a steep dip to the west, true widths are estimated to be about 80-90% of reported interval lengths.Peter Fischl, Exploration Manager goes on to add, "Drilling continues to define a horizon of stronger gold mineralization. This hole targeted the shallower portions of the...Read More
SAN PEDRO DE ATACAMA (Reuters) - Earlier this year, the world’s two biggest lithium producers publicly celebrated new deals with Chile’s government that will allow them to vastly increase output of the ultralight battery metal from the Atacama, the world’s driest desert.U.S.-based Albemarle Corp and Chile’s SQM operate just 3 miles (5 km) apart in the remote Salar, a basin...Read More
Vale's cobalt production fell 31% in the third quarter of 2018 mainly due to decreased output from its Sudbury and Voisey's Bay operations. Vale produced 1,028 tonnes of cobalt in the three months to the end of September compared with 1,489 tonnes in the same quarter of 2017. A 22.5% fall in third-quarter production from Voisey's Bay to 371 tonnes from the previous quarter was caused by scheduled...Read More
Chinese cobalt metal and salts prices fell in the midweek pricing session following an 17.8% drop in local futures contract prices, which dented buying sentiment. Fastmarkets MB's Chinese domestic cobalt metal price fell by 3.6% to 450,000-490,000 yuan per tonne ($25.52-27.68 per lb, China-VAT free) on Wednesday October 17, from 475,000-500,000 yuan per tonne on Friday. Market participants at...Read More