Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.7% on the morning of Thursday November 15. Zinc and nickel prices were up by the most with gains of 1.2% and 1.1% respectively, while copper was up by 0.8% at $6,149 per tonne. The others were up by between 0.2% for aluminium and 0.8% for lead. Volume has been below average with 4,583 lots trade...Read More
The processing plant for Endeavour Mining's Hound?(C) Mine in Burkina Faso, West Africa. Source: Endeavour Mining Corp.Endeavour Mining Corp. [EDV-TSX; EDVMF-OTCQX] on Thursday November 15 announced a significant maiden resource estimate for the previously announced Kari Pump discovery at its flagship Hound?(C) Mine in Burkina Faso, West Africa.Kari Pump's one million ounce maiden indicated resour...Read More
The Thursday Market Minute Global stocks reverse gains, sending U.S equity futures into the red, after a key U.K. lawmaker resigns from government over Prime Minister Theresa May's Brexit deal, triggering the potential for a leadership challenge or fresh national elections.Markets had been higher as reports of progress in U.S.-China trade talks gave investors a chance to re-enter risk marke...Read More
Planned investment by China in high-pressure acid-leaching (HPAL) projects for nickel mining will materialize, but the projected production timeframes are very likely to be pushed back, and development costs are liable to increase, market participants have told Fastmarkets."[The Chinese are] looking to take advantage of the expected growth [in nickel demand for battery uses]. All of us are skeptic...Read More
* Sterling tumbles a cent after Brexit deal hopes crumble* Asia rose overnight on U.S.-China trade hopes * Oil nudges higher for second day after 12-day losingstreak* Dollar gets going after soft start, Wall Street seenedging high * Bunds rally, Italian bond yields dip as budget remains infocus By Marc JonesLONDON, Nov 15 (Reuters) - Sterling tumbled and the rest ofEurope's share markets groaned o...Read More
The cobalt metal price in China edged lower mid-week, pressured by the overall bearish sentiment toward the cobalt market's outlook following an industry event last week.Fastmarkets assessed the Chinese cobalt metal price at 410,000-430,000 yuan per tonne ($23.10-24.22) per lb, China VAT-free, on Wednesday November 14, down 4.5% from 430,000-450,000 yuan per tonne previously. "Following the event...Read More
Domestic prices for cold-rolled coil (CRC) have moved down slightly over the past week in Europe on slow trading, sources told Fastmarkets on Thursday November 15.Demand was slow because distributors have sufficient volumes in stock, according to market sources.In addition, the future price trend in the coil market was not clear to buyers so they preferred to hold back from purchasing.This week, d...Read More
I'm not going to lie...While I'm not a gambler, and I've never had much use for Las Vegas, Sin City does have one thing I absolutely love...A 24-hour drive-thru cannabis dispensary.It's called NuWu Cannabis Marketplace. And it was a sight for sore eyes after I landed at McCarran International at 10:30 p.m., having been up for nearly 20 hours.My Uber driver took me there first before driving me to...Read More
Guyana Goldstrike Inc. (TSX.V:GYA, OTC:GYNAF, FSE:1ZT) is a Canadian gold exploration and development company, with a focus on near-term production and advanced exploration. The Company's operations are in Guyana, South America, where its asset, the Marudi Gold Project is under development. The project is 13,500 acres in size, contains a mineral resource estimate, a permitted mining license and re...Read More
China's domestic hot-rolled coil prices were stable on Thursday November 15, but market participants are expecting an imminent drop on worsening demand.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($546-548) per tonne, unchanged Northern China (Tianjin): 3,840-3,850 yuan per tonne, unchangedPrices held steady during the day, with trading activity in eastern China being described as better th...Read More
China's ferrous futures, particularly the steel and coke contracts, tumbled during morning trading on Thursday November 15 on profit-taking after across-the-board gains a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,874 ($557) yuan per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,577 yuan per tonne, down 30 yuan per tonneDalian Commodit...Read More
Wire rod industry sources in the United States expect recently announced mill price increases to be accepted, although the domestic market remains flat for now.Fastmarkets AMM's assessment for industrial quality low-carbon rod held at $39.25-41.25 per hundredweight ($785-825 per short ton) on Wednesday November 14, and imported wire rod was steady at $744-762 per short cfr port of Houston.Scr...Read More
Turkish long steel prices have continued to move in line with the lira-dollar exchange rate over the past week, sources said on Thursday November 15.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,250-3,400 ($593-621) per tonne ex-works, up from the last week's TRY3,200-3,335 per tonne including 18% VAT.The slight increase in...Read More
Turkish long steel export prices have fallen over the past week amid limited demand and weakening steel prices in China, sources told Fastmarkets on Thursday November 15.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $505-510 per tonne fob, down from the $510-520 per tonne of last week.The decrease in the assessment followed news of a rebar cargo...Read More
Turkish steel producers resumed their deep-sea scrap purchasing on Thursday November 15, following a downturn in prices.A steel producer in northern Turkey booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $335 per tonne cfr.Another steel mill in the Iskenderun region booked a United States cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $335 per tonne and 3,000...Read More
UK ferrous scrap prices for deliveries in November have been rolled over due to steady business and a small increase in European export prices to the key destination of Turkey, which meant there has been no support for changes to British domestic scrap prices, trade sources told Metal Bulletin on Wednesday November 14.UK suppliers had initially pushed for an increase of around ?5-10 ($6-13) per t...Read More
Iron ore prices weakened on Thursday November 15, marking the start of the winter heating season in north China and the accompanying steelmaking restrictions.MB 62% Fe Iron Ore Index: $74.93 per tonne cfr Qingdao, down $0.98 per tonne.MB 62% Fe Pilbara Blend Fines Index: $74.73 per tonne cfr Qingdao, down $0.98 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $77.97 per tonne cfr Qingdao, down $0.2...Read More
CloseGain/LossGold $1213.30+$1.40Silver$14.29+$0.14XAU64.99+2.30%HUI146.41+2.06%GDM532.07+1.79%JSE Gold1108.65+27.91USD97.05+0.13Euro113.34+0.14Yen88.24+0.09Oil$56.46+$0.2110-Year3.113%-0.009T-Bond138.90625+0.03125Dow25289.27+0.83%Nasdaq7259.03+1.72%S&P2730.20+1.06% The Metals: Gold gained $4.30 to $1216.20 in Asia before it fell back to $1208.10 in London, but it then ch...Read More
By Ira EpsteinCould this be where a bounce in gold starts that has some legs to it?https://www.iraepstein.com/ Read More
By Daniel R. Amerman, CFAMartin Feldstein, who was chairman of the Council of Economic Advisors under President Reagan and is currently a Harvard professor, wrote an extraordinary editorial in the Wall Street Journal in which he strongly advocated that the Federal Reserve pursue policies that would: 1) continue to raise interest rates; and 2) thereby pop asset bubbles in the stock and commercial...Read More