Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe higher grade scenario is focused on 54Mt grading 0.86% copper equivalent, with the scoping work due for completion this quarter.Xanadu will also now look at the potential of definin...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipPolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithium The best intercept was 583m at 0.59g/t gold and 0.41% copper.Seabridge said it had intersected some "exceptional w...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 31, with few buyers seriously enquiring for deliveries. Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($608-636) per tonne delivered on Wednesday. Both assessments were unchanged over the pre...Read More
Market sentiment continues to oscillate in regard to U.S. equities as traders continue to witness large price swings in both directions. Gone are the days when a 100- or 200-point gain or decline in the Dow Jones Industrial Average would be considered a sizable move. It seems there is a new normal. That normal is characterized by swings in the Dow in excess of 500 points or more in terms of the da...Read More
The price for rebar produced and delivered in Southern Europe fell slightly on Wednesday October 31, with some suppliers accepting lower bids to make sales but most only offering higher prices.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?510-535 ($579-608) per tonne delivered on Wednesday, from ?,?520-545 per tonne last week.Producers have been raising thei...Read More
Editorial credit: Andriy Blokhin / Shutterstock.com(Kitco News) - Global central bank interest in gold is growing and has room to grow according to one former senior executive at the New York Federal Reserve.That growing sentiment could be felt during the London Bullion Market Association’s 2018 precious metals conference, which included more than 30 delegates from central banks around the w...Read More
Turkey's flat steel exports more than doubled year on year in September, up by 103.67%, with total exports in the year to the end of September up by morre than a quarter (27.88%), according to the Turkish Statistical Institute (TUIK). The increase in exports in September was due to the strong demand especially from Europe, market participants although the amount available for exports was boos...Read More
(Kitco News) - 2018 Halloween candy prices in the U.S. are expected to rise 0.5% compared to last year, after two past consecutive years of price deflation, according to British data provider IHS Markit. Halloween candy spending is expected to increase 4.2% year-on-year, up from last year's 2.4% growth. Candy spending is projected to total $2.5 billion, translating to around $20 per household in...Read More
(Kitco News) - Gold’s tight negative correlation with the U.S. dollar will help prices go higher within the next 12 months, according to Wells Fargo, which forecasts weaker greenback to come.“We see higher gold prices ahead as we expect commodity prices in general to increase and the U.S. dollar to weaken. Our rolling 12-month target price for gold remains $1,250 - $1,350 per ounce,&rd...Read More
Key data from the Wednesday October 31 pricing session in Europe.Key driversTrades and assessments indicate the European ferro-titanium market continued the downtrend that began on September 12, when the market was assessed at $5.80-6.05 per kg. Ample supply of material, as well as traders looking to sell-off inventories before year-end were cited...Read More
(Kitco News) - Gold and silver prices are lower and have hit three-week and four-week lows, respectively, in early-afternoon U.S. trading Wednesday. Improving trader and investor risk appetite in the marketplace at mid-week is bearish for the safe-haven metals. Also, a stronger U.S. dollar index that scored a new for-the-move high today is pressuring the precious metals markets this week. December...Read More
LONDON/NEW YORK (Reuters) - Bitcoin, the world’s first and most famous cryptocurrency, celebrates its tenth birthday on Wednesday.Its emergence has spawned a multitude of other digital currencies, brought blockchain technology to global attention, and vexed regulators worried about its crime misuse and weakness to hacking.The following are some major milestones in bitcoin’s first decad...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our m...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday October 31:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.00-12.15 per lb from $12.00-12.20Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28.80-29.30 per kg from...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade.Index futures moved higher following release of the October ADP Employment report at 8:15 AM EDT. Consensus was 195,000 versus a revised 218,000 in September. Actual was 227,000Facebook gained $7.32 to $153.55 after reporting higher third quarter revenues. General Motors gained $2.61 to $...Read More
Stainless steel scrap prices have become fairly stable in the United States, but could show further weakening through year-end and likely into early next year."With all the tumultuous events of the past week, we can look to the stainless steel [scrap] market for some tranquility," one US scrap dealer said, referring to the turbulence caused by the shootings in a Pittsburgh synagogue over the weeke...Read More
The United States' bulk ferrous scrap export price continued to trek upward in a fresh cargo sale to Turkey, while a drop in flows forced East Coast exporters to reverse some recent dock buying price reductions. An East Coast cargo was sold to Turkey at $334 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap (HMS), $339 per tonne cfr for shredded scrap and $344 per tonne cfr for bon...Read More
CME Group's Midwest busheling futures contract continues to enjoy activity on a daily basis with a modest 12-lot sale conducted transacted on Tuesday October 30.Of that, four lots (80 gross tons) are set to expire in December, while the remaining eight lots will expire in January 2019, according to the...Read More
The Supreme Court of Queensland, Australia, has dismissed rail freight operator Aurizon's legal challenge to the Queensland Competition Authority's (QCA) draft decision to limit its potential revenues for the 2017-2021 period.The draft decision entailed limiting Aurizon's maximum allowable revenue to A$3.893 billion over the four-year period - A$1 billion below the company's project...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreRio Tinto, Global Ore, 50,000 tonnes of 62.5% Fe Pilbara Blend lumps, sold at the November average of a 62% Fe index, adjusted for Fe content, plus a lump premium of $0.3390 per dry metric tonne unit, laycan November 15-24.Glob...Read More