It's a good thing October is coming to an end. It's been a particularly lousy month for the markets. October has seen about $5 trillion in value erased from global markets.Reasons for that sell-off range from fear over Fed rate hikes, trade wars, elections and buyback "blackout" periods during earnings.Buyback blackouts are ending, which should provide markets some needed lift over the next month....Read More
Prices for iron ore fines weakened on Wednesday October 31 in a cautious market, while lump premiums traded higher.MB 62% Fe Iron Ore Index: $75.71 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.74 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $80.13 per tonne cfr Qingdao, down $0.04 per tonne. MB 58% Fe Premium Index: $67.42 pe...Read More
Chinese end users appear to still have interest for premium low-vol hard coking coal, with a cargo of such materials changing hands at a price above the previously traded level on Wednesday October 31.A trader source told Fastmarkets that the shipment was traded at just above last week's transaction price of $220 per tonne cfr China. But this deal aside, an air of caution continued to pervade in t...Read More
Most people know they should invest, just as most people know they should watch their diet and exercise. Nonetheless, millions of people don’t invest at all. Barely one-third of families in the bottom 50% of earners own stocks, according to the Fed-they aren't active investors.An active investor is someone who actually lives off their investments as opposed to wages from a job. My investment...Read More
“If only I could go back and invest at the start of this 10-year bull market...”It seems like every week I hear some variation of this statement. People are frustrated that they didn’t invest when the market was on sale in the wake of the financial crisis ten years ago.Missing out on a 10-year bull market is a tragedy, especially for my friends who promised themselves they would...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 31.Base metals on the London Metal Exchange consolidated lower during morning trading on Wednesday October 31, with downward pressure emerging from broad corrections in key indices such as the S&P 500 and Dow Jones Industrial Average, while dollar strength continues to hamper investment.Here...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday October 31* Copper -$103.74 (-724.61 yuan) Aluminium -$436.45 (-3,048.53 yuan) Zinc -$47.26 (-330.08 yuan) Nickel $586.71 (4,098.08 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices at 3pm...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Wednesday October 31:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,500-51,000 yuan per tonne from 51,000-51,500 yuanBismuth MB free market, $/lb: $3.60-4.10 per lb from $3.80-4.30Cobalt MB China domestic, yuan/tonne: 430,000-450,000 yuan per tonne from 445,000-465,000 yuanCobalt tetroxide min...Read More
The European copper cathode premium dipped on Tuesday October 30 while the cif Shanghai premium was slightly lower after a sustained import loss and wider backwardation in the London Metal Exchange spread pushed traders to the sidelines; the US premium was steady with the focus on annual negotiations. European market slips on backwardation. Shanghai cif premium slightly lower due to import a...Read More
China's crude stainless steel output increased in the first nine months of 2018 amid higher prices and healthy profit.Stainless steelmakers in the country produced 20.75 million tonnes of crude stainless steel during the period, up 8.5% from an adjusted 19.12 million tonnes from January to September in 2017, according to data released by the China Stainless Steel Council late on Monday October 29....Read More
Moises Carreon, Coors Development Chair and associate professor of chemical and biological engineering at Colorado School of Mines, has been awarded an honorary doctorate from Universidad Michoacana de San Nicol??s de Hidalgo.The Doctorate Honoris Causa is the highest recognition the Mexican university confers in the fields of science, arts and humanities, with only 71 people having received the d...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 31:Aluminium scrapGroup 1 pure 99% & litho: ?1,380-1,430 per tonne from ?1,390-1,440Commercial pure cuttings: ?1,100-1,140 per tonne from ?1,100-1,150Clean HE9 extrusions: ?1,390-1,440 per tonne...Read More
Ferrous scrap demand in Asia has been thin this week in the face of falling prices.Buyers in key import markets are holding back from purchasing import cargoes amid expectations of further price falls. "South Korea does not have demand for imported heavy melting scrap cargoes this week because domestic scrap inventory level is high," a source familiar with the South Korean import market said. Buye...Read More
Agnico Eagle Mines vice-chair and CEO Sean Boyd accepts The Northern Miner's Mining Person of the Year Award for 2017, with an introduction by Northern Miner editor-in-chief John Cumming.Boyd touches on his firm's corporate culture, its role in cancer research, and Agnico's multi-decade ties to the Miner, starting with the deep friendship between Agnico founder Paul Penna and long-time TNM publish...Read More
Shares of Guyana Goldfields (TSX: GUY; US-OTC: GUYFF) plunged 46% to $1.62 on news that the company has cut its 2018 production guidance and launched a review of the underlying resource model at its Aurora gold mine.The company has hired engineering firm RPA Inc. to investigate the geologic controls and grade variability of the mine's Rory's Knoll deposit. Results of the review will be released in...Read More
From 1996 until 2010, Zone 87 at the Troilus mine in Quebec was responsible for the majority of the 2 million ounces of gold and 70,000 tonnes of copper that was produced at the open-pit mining operation.The Z87 pit ultimately ran 350 metres deep and had a strike length of about 900 metres.Now junior explorer Troilus Gold (TSXV: TLG) is trying to bring that zone and others on its property back int...Read More
Two years ago New Age Metals (TSX: NAM; US-OTC: PAWEF) became one of the largest claim holders in the Winnipeg River Pegmatite Field of southeastern Manitoba, 125 km northeast of Winnipeg.Through staking and acquisitions, the junior acquired 6,000 hectares and five hard-rock lithium projects that contain spodumene-bearing pegmatites near or adjacent to the Tanco pegmatite, a lithium-cesium-tantalu...Read More
Excelsior Mining (TSX: MIN; US-OTC: EXMGF) plans to complete construction at its Gunnison copper project in southeastern Arizona and enter production over the next year after agreeing to a US$75 million project financing package with Triple Flag Mining Finance.Triple Flag will buy a US$65 million copper stream on Gunnison and US$10 million in shares from Excelsior. The package includes an option f...Read More
Chaarat Gold Holdings (LON:CGH), the company that tried and failed to buy Centerra Gold's (TSX:CG) Kumtor mine in Kyrgyzstan, revealed Wednesday the Canadian miner turned down an unconventional takeover offer, valued at about C$2 billion (roughly $1.52B), for the entire company.The Central Asia-focused gold miner last month proposed buying the Toronto-based company in an all-cash transaction at...Read More