U.S. demand for electric vehicles, including hybrids, could rise to 1.28 million by 2026, a new study projected on Wednesday, but most brands will struggle to make money on the new models.Research firm IHS Markit forecasts that more than 130 models in the U.S. market, from 43 brands, will offer electrified propulsion systems, either pure battery electric or hybrid gasoline-electric.But two-thirds...Read More
What happened: Value of M&A activity skyrocketed in B.C. during the first quarter of 2019Why it matters: The jump was driven primarily by the $17.4-billion acquisition of Goldcorp Inc.A first-quarter surge in B.C.-based mergers and acquisitions (M&A) activity can be attributed to one particular mega-deal that kicked off the year, according to new data from Crosbie & Company Inc.A May 29 report rev...Read More
Toronto-based North American Palladium (TSE: PDL) says underground exploration at its Lac des Iles mine 90 kms north of Thunder Bay has discovered a new zone - C zone. Drill results suggest that it is a large area of palladium mineralization in the footwall of the Offset zone.Assays from C zone include 4.18 g/t palladium over 19.4 metres, 3.06 g/t over 25.0 metres, and 2.93 g/t over 74.9 metres, i...Read More
Six years after being carved out of a handful of unwanted gold operations, Sibanye Gold Ltd. has become the world's biggest platinum miner.Building on operations spun out of Gold Fields Ltd., Sibanye became the No. 1 miner in South Africa's waning gold industry. Now, with the acquisition of Lonmin Plc, Chief Executive Officer Neal Froneman has completed Sibanye's transformation to a giant of the n...Read More
Switzerland's top prosecutor opened a criminal probe against "unknown perpetrators" suspected of bribing foreign officials after a public interest group filed a complaint in 2017 against Glencore Plc, adding to international scrutiny of the world's biggest commodity trader.The investigation opened earlier this month relates to raw materials, and isn't focused on the Baar, Switzerland-based company...Read More
Walking down a busy street in Rio de Janeiro one recent afternoon, we bumped into the Brazilian who is best known for losing $35 billion in a single year. After initially trying to deflect questions, he begrudgingly invited us along for a lunch that lasted two hours.The man, of course, is Eike Batista, who once famously told Mexico's Carlos Slim to watch out because, he said, he was poised to surp...Read More
1. The fear trade for gold continues to gain fundamental strength. The technical picture is also solid. Please click here now. Double-click to enlarge. Gold is poised for significant upside action in the second half of this year.2. A large bull wedge is in play as institutional investors become more concerned about the slowing global economy.3. Please click here now. Double-click to enlarge. This...Read More
So the steel and aluminum tariffs have finally been lifted, yet the TSX index has barely shrugged in response - indeed, the metal and mining industry is down 3.3% this week and down 16.2% for the past year. While some pundits may have expected to see share prices of affected companies at least bob a little on the good news, the fact is that trashing the tariffs hasn’t had much of an effect o...Read More
1. The fear trade for gold continues to gain fundamental strength. The technical picture is also solid. Please click here now. Double-click to enlarge. Gold is poised for significant upside action in the second half of this year.2. A large bull wedge is in play as institutional investors become more concerned about the slowing global economy.3. Please click here now. Double-click to enlarge. This...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended in positive territory Thursday as investors moved to discount increased trade-war saber-rattling from China. Shares of Palo Alto Networks (PANW - Get Report) tumbled after the cyber security company issued weaker-than-expected guidance. PVH (PVH - Get Report) shares fell after the Tommy Hilfig...Read More
Copper's three-month price on the London Metal Exchange remained low at the close of trading on Thursday May 30, with its price action capped by a sizable inflow into LME-registered warehouses, while US dollar strength and trade tensions continue to hang over commodity investment. The red metal's three-month price closed the day's trading session at $5,852 per tonne on Thursday May 30. Just u...Read More
Chinese stainless-steel producer Tsingshan Holding Group plans to set-up a cold-rolling mill with an annual capacity of 600,000 tonnes per year in Busan, South Korea, and has submitted letters of intent to the city government and potential business partners, Chinese market sources told Fastmarkets.Domestic suppliers may raise concerns about Tsingshan's plans because South Korea currently consumes...Read More
Dafydd Davies has joined TradeCloud as marketing executive to expand its presence in Europe and the Americas, the company said on Wednesday May 29.Launched in October 2017, TradeCloud is a digital metals trading platform where producers, consumers and traders can meet to exchange information, negotiate contracts and...Read More
TSLA had yet another bad week, closing down $19 (9%) from the previous Friday's close. Last week every attempted bounce in the stock was shortable on a daytrading basis. Currently Tesla's shares are trading at $188. It would likely be a lot lower if it weren't for Musk's repeated "leaked" emails loaded with dubious production and delivery claims, with both barrels pointed directly at short-sellers...Read More
China's president Xi Jinping had visited a rare earth processing plant last week, which was seen as leverage for trade talks given the country's dominance in supply.Chinese media reports yesterday then warned the US not to "underestimate China's ability to strike back", Reuters reported."The outcome of this has to be an increased focus outside China on rare earths production because while China ha...Read More
Workers belonging to three trade unions at Codelco's Chuquicamata division voted to go on strike when they rejected the latest contract proposal from the Chilean state-owned copper miner, the unions said on Wednesday May 29.The company and the unions both have the option, within four days, to ask authorities to mediate negotiation on a new contract of employment for workers at the mine. Once media...Read More
Although I usually let my charts tell me where stocks are headed next, the 'technicals' are a tad sunnier than I at the moment. This is notwithstanding recent weakness that has caused new record highs that were within spitting distance just a few weeks ago to recede. A 3095 target that lay just 4.5% from early May's peak now sits 10.5% away. It's certainly do-able, but I doubt buyers have the mo...Read More
Cambodia's Sihanoukville Special Economic Zone is over a thousand miles from China, but you would not know it to be there.Cut into a landscape of thick jungle and paddy fields, the area - which touts itself as a landmark Belt and Road project - is a mass of freshly built white factory buildings emblazoned with names such as Fangyuan Factory, Qingdao Baoli Textile and Jinchenyuan.There runs Kinnric...Read More
Antimony prices in both Chinese and European markets have dropped significantly so far this year due to weak demand and bearish sentiment caused by factors led by rising trade tension between China and the United States, the world's two largest economies. Fastmarkets' European and Chinese antimony prices have fallen by more than 15% and 21% respectively in the year to date. Fastmarkets presents th...Read More
Cobalt prices fell in the first half of the week after slow consumer demand and strong discounts on long-term contracts incited aggressive offers from sellers. Fastmarkets price assessment for standard-grade cobalt in-warehouse Rotterdam was $15.35-16.10 per lb on Wednesday May 29, down from $16-16.55 per lb at the end of last week. Alloy-grade prices settle...Read More