Immersive Technologies CEO Peter Salfinger told Australia's Mining Monthly the sale came at the end of a process the company had started about one year ago.Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended little changed Monday as investors looked to the upcoming G-20 summit for a breakthrough in U.S.-China trade talks. Shares of Caesars Entertainment (CZR - Get Report) soared after Eldorado Resorts (ERI - Get Report) agreed to buy Caesars in a $17.3 billion deal that will create the biggest U.S. gam...Read More
- SRSrocco What happens to the gold price this week will likely set the trend for the foreseeable future. While many precious metals investors disregard technical analysis and key chart formations, you can bet your bottom dollar that large traders and institutions are watching the price action of the yellow metal quite carefully. And if you think that these large traders and institutions...Read More
By: Ira EpsteinUS Dollar took a beating, FOMC leaning on cutting interest rates. One of the board members wants a 50bps cut already. If China and US get together at the G20 then things can change:Read More
Here are three numbers to jot down to get an accurate and potentially useful 'read' on the aging bull market: 27,436, 28,738 and 33,161. These are 'Hidden Pivot' resistance targets for the Dow Industrials, and any one of them could stop the bull in its tracks. Each is a good place to attempt getting short with a tight stop-loss, but if the stop gets pulped, assume that the next-higher target...Read More
The price of cobalt continued to fall last week, while prices for standard and alloy-grade units converged, in a market where sellers lowered their offers to offload material not declared on long-term agreements.Fastmarkets assessed the price of standard-grade cobalt at $13.85-14.50 per lb, in-warehouse, falling from $14.25-15 per lb on June 19, and down 3% week on week. Fastmakrets' assessment of...Read More
Fastmarkets MB's World DRI and Pellet conference, held in Dubai last week, took place against a backdrop of challenging circumstances for the steel industry.Finished steel prices, both in the Middle East region and beyond, have trended down over recent months, while certain raw materials prices - such as for iron ore-derived products - continue to soar, heaping pressure on margins.The best way to...Read More
(Updates with closing prices)By Peter HobsonLONDON, June 24 (Reuters) - Copper prices slipped on Mondayas doubts over the outcome of U.S.-China trade talks later thisweek overshadowed the effect of a weaker dollar and supplydisruption in Chile.Benchmark copper on the London Metal Exchange (LME)closed 0.2% lower at $5,960 a tonne, down from a one-month highof $6,027 on Thursday.The metal used in po...Read More
The discount for No2 copper scrap, comprising 94-96% copper content, narrowed in the Chinese market this month while more buyers began acquiring spot units after the first batch of quotas were announced for purchases in the second half of 2019.Fastmarkets' monthly assessment of the discount for No2 copper, birch/cliff stood at $0.29-0.35 per lb on a cif China basis, as of June 24, down from $0.34-...Read More
Turkish steel producers remained out of the deep-sea scrap markets at the beginning of the week, while suppliers were trying to keep offers firm, sources said on Monday June 24.Mills slowed their bookings last week, with almost 80% of all their July requirements booked. Although, this means they still need to book scrap, sources told Fastmarkets.As a result, suppliers were keeping their offers as...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 24 that are worth another look.Koniambo Nickel SAS, 49%-owned by commodity firm Glencore, has evacuated and temporarily ceased production at its North Plant in New Caledonia following a leak at 6.22am local time on Monday June 24. The United States Supreme Court has denied a request by the American Institute for In...Read More
Geopolitical tensions in the Middle East showed no sign of abating over the weekend after the United States claimed that it had carried out a cyber-attack on Iranian weapons systems in retaliation for the latter shooting down a US drone last week.While the threat of a war between the two remains a possibility, global investors have taken refuge in haven assets amid the rising uncertainty in the re...Read More
Ontario's government is working for the people of Northern Ontario by investing in job opportunities for young northerners.Today, Greg Rickford, Minister of Energy, Northern Development and Mines and Chair of the Northern Ontario Heritage Fund Corporation (NOHFC), announced an investment of $31,500 to the Town of Rainy River to promote tourism and community pride in the region while creating a new...Read More
Ontario's government is working for the people by supporting small business growth in Mine Centre, creating two seasonal jobs.Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced Hyatt's Manion Lake Camp - a hunting and fishing outfitter - is receiving $56,187 to expand its operations by building a new outpost cabin and installing solar panels to save on energy costs...Read More
The price of cobalt continued to fall last week, while prices for standard and alloy-grade units converged, in a market where sellers lowered their offers to offload material not declared on long-term agreements.Fastmarkets assessed the price of standard-grade cobalt at $13.85-14.50 per lb, in-warehouse, falling from $14.25-15 per lb on June 19, and down 3% week on week. Fastmakrets' assessment of...Read More
The liquefied natural gas (LNG) market has emerged as the hottest sector in the energy industry right now.Billions of dollars are being spent on developing LNG facilities all over the world.Last week, U.S. energy firm Anadarko approved the construction of a $20 billion LNG export terminal in Mozambique. When completed, it will be the single biggest LNG facility in Africa.Meanwhile, Japan's Inpex C...Read More
Pelangio Exploration Inc. (PX:TSX-V; OTC PINK:PGXPF) is focused on exploring large land packages in world-class gold belts in Canada and Ghana, West Africa. In Canada, Pelangio controls a number of early-stage properties in Ontario, in areas with active and historic mining activities. In Ghana, the Company is focusing on two 100%-owned camp-sized properties: the 100 square kilometers Manfo Propert...Read More
MMK Metallurgy, subsidiary of Russia's Magnitogorsk Iron & Steel Works (MMK) postponed the start of its hot-rolled coil production until at least 2021, Pavel Shilyaev, ceo of MMK told Russian news agencies last week.MMK stopped operations at its melt shop and compact strip mill - which have a capacity of 2.3 million tonnes per year - in late 2012 because HRC prices had fallen...Read More
There was an uptick in import prices for steel slab in Asia over the past week after buyers in Southeast Asia returned to the market to book cargoes, while market participants in East Asia were optimistic that downstream flat steel prices had bottomed out.In Southeast Asia, two shipments of slab produced in the Commonwealth of Independent States (CIS) were booked at $440-455 per tonne cfr during t...Read More
China's hot-rolled coil surged on Monday June 24 after news spread that mills in Tangshan, the steelmaking hub in the country's northern region, will start production cuts to curb air pollution.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($566-569) per tonne, up 110 yuan per tonneNorthern China (Tianjin): 3,830-3,850 yuan per tonne, up 60-70 yuan per tonnePrices surged nationwide after the...Read More