The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have been stable over the past week, with buying activity for all such materials remaining limited, Fastmarkets heard on Tuesday March 12.But new offer prices, to be sent out next week, were expected to be higher because of rises in raw material prices, sources told Fastmarkets.Higher prices were unlikely to...Read More

Out-of-the-money put strikes could come into play for XLF as March options get set to expireThe Financial Select Sector SPDR Fund (XLF) began last week's trading in less-than-robust form by immediately backing down from resistance at its 200-day moving average, after having run up to test this overhead trendline a couple of times during the final week of February. Granted, XLF wasn't alone in pull...Read More

Copper demand in the Middle East is lagging in comparison to the rest of world, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Tuesday March 12.While global demand for copper is healthy, copper demand in the Middle East remains the laggard, Nexans' head of procurement Christophe Allain and Dubai Cable purchasing manager Laila Marafi agreed when speaking to delegates...Read More

Here are five Fastmarkets MB stories you might have missed on Tuesday March 12 that are worth another look.The development of the futures market in China has been a "double-edged sword" for the domestic ferro-silicon industry, leading to more flexibility for market participants and wilder price swings than prior to its existence, one speaker said at Fastmarkets' Asian Ferro-alloys Conference...Read More

Arizona Silver Exploration (TSX-V: AZS) received this week approval from the US Bureau of Land Management of its Notice of Intent to start an initial six-hole exploration drilling program on the Philadelphia project, located in Mohave County, northwestern Arizona.In a press release, Arizona Silver said that the BLM determined the reclamation bond amount required to cover the proposed drilling prog...Read More

Australia's largest gold producer, Newcrest Mining (ASX: NCM), continued its deal-making spree Tuesday by setting a joint venture with Greatland Gold (LON:GGP), which will focus on advancing the explorer's Havieron project in Western Australia's Paterson region.The agreement comes only a day after Newcrest announced it was buying a 70% stake in the Red Chris copper and gold mine in Canada from Imp...Read More

The World Gold Council has issued quite a few interesting papers recently. In this edition of the Gold News Monitor, we discuss the most provocative ones. Such as the money worthiness of gold compared to Bitcoin. Or the ongoing gold repatriation trend as Romania recently joined the fray. What kind of learnings can the precious metals investors draw here?   Cryptocurrencies Are No Substitute f...Read More

Published 23 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold edged higher on Tuesday, supported by a retreat in the dollar after an apparent breakthrough in Brexit negotiations between the European Union and Britain, although rallying equities capped bullion's gains.Spot gold rose 0.36 percent to $1,298.61 per ounce, while U.S. gold futures were up 0.6 percent at $1,299.10.Some dollar weaknes...Read More

Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply conc...Read More

Fastmarkets has amended its weekly London Metal Exchange warrant premiums coverage across the entire base metals asset class. Following a one-month consultation period, Fastmarkets will change the publication date for LME warrant premiums to Wednesdays 3-4pm London time from Tuesdays 3-4pm, effective from March 12, while the frequency of the coverage will remain unchanged on a weekly basis. In add...Read More

A 229-day queue for aluminium has built up at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim, according to LME data released on Monday March 11.The wait is now over 100 days more than the queue registered at the end of February. In early February, nearly 100,000 tonnes was canceled in Port Klang - this followed cancelations of around 300,000 tonnes between Jan...Read More

Moves to enhance electronic trading on the London Metal Exchange are not a back-door attempt to close the ring, Europe's last open outcry trading floor, the exchange's chief executive officer said. Matthew Chamberlain said the introduction of Trade At Settlement (TAS) functionality last month and a three-month trial starting next week to calculate nickel prices using a weighted average price (VWAP...Read More

Seabridge Gold has tabled an updated resource estimate for its Iron Cap gold-copper porphyry project in British Columbia that increases the project's indicated resource by 460,000 oz. gold and 177 million lb. copper. It also boosts the project's inferred resource by 7.45 million oz. gold and 4 billion lb. copper.The project now contains 423 million indicated tonnes grading 0.41 gram gold per tonne...Read More

PowerOre of Toronto has spent the winter poring over historical drill results and creating a 3D model of the past producing Springer and Perry copper mines. The geologists identified a number of wide - 20 metres or longer - disseminated mineralized drill intersections from the Springer mine.Early in the mines' history, operators focused on high grade veins and much of the disseminated copper miner...Read More

The World Copper Conference will once again be hosted in Santiago, Chile and will reinforce its position as the premier copper event in Latin America.The conference is renowned for its calibre of attendees attracting CEOs and senior executives from leading miners, smelters, service providers, financiers, as well as government delegations. It is also a major networking event for key stakeholders fr...Read More

Hudbay Minerals has received the last key permit it needs to start building its Rosemont mine in Arizona.The U.S. Army Corps of Engineers issued a Section 404 water permit for the project, which a feasibility study in 2017 forecast would have a mine life of 19 years and produce 112,000 tonnes of copper in concentrate a year at a life-of-mine cash cost of $1.29 per lb.Now that the 404 Permit has be...Read More

Australia's largest gold producer, Newcrest Mining (ASX: NCM), continued its deal-making spree Tuesday by setting a joint venture with Greatland Gold (LON:GGP), which will focus on advancing the explorer's Havieron project in Western Australia's Paterson region.The agreement comes only a day after Newcrest announced it was buying a 70% stake in the Red Chris copper and gold mine in Canada from Imp...Read More

Fission Uranium of Kelowna, B.C., is pleased with the results from three holes of its winter work program at the Patterson Lake South uranium property in the Athabasca Basin. The holes were dual purpose: to expand resources outside the modeled high grade zone and to collect geotechnical information for mine planning.The three holes were drilled in the R780E zone. Results include hole PLS19-PW-09,...Read More

Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply conc...Read More

Fission is hard at work on the feasibility study for mining the Triple R uranium deposit in Saskatchewan. (Image: Fission Uranium)SASKATCHEWAN - Fission Uranium of Kelowna, B.C., is pleased with the results from three holes of its winter work program at the Patterson Lake South uranium property in the Athabasca Basin. The holes were dual purpose: to expand resources outside the modeled high grad...Read More