Combine a chaotic, easy-money world with silver's relative cheapness and the result is a nice set-up...by John Rubino of Dollar CollapseIt's been a pretty good couple of months for precious metals, but more so for gold than silver. Both are up but gold is up more, and the imbalance that this creates might be one of the major investment themes of the next few years.The gold/silver ratio - that is,...Read More
The three-month nickel price on the London Metal Exchange rallied at the close of trading on Wednesday June 26, climbing by 1.4% to close at its highest level since April amid a continued drawdown in the LME's dwindling supply. The nickel price closed trading at $12,490 per tonne, climbing from an intraday low of $12,235 per tonne while total volumes traded breached 10,000 lots for the first time...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 26.Please click...Read More
China's rebar prices were unchanged on Wednesday June 26 amid softer spot demand and a slight rise in the futures market. Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, unchangedRebar futures edged up during the day but failed to push up spot prices.Continual rain in eastern China this week dampened end-user...Read More
The three-month nickel price on the London Metal Exchange rallied at the close of trading on Wednesday June 26, climbing by 1.4% to close at its highest level since April amid a continued drawdown in the LME's dwindling supply. The nickel price closed trading at $12,490 per tonne, climbing from an intraday low of $12,235 per tonne while total volumes traded breached 10,000 lots for the first time...Read More
The price of mesh-quality wire rod in Europe fell by ?,?5 per tonne week on week following the drop in ferrous scrap prices, sources told Fastmarkets on Wednesday June 26.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?500-510 ($569-581) per tonne delivered on Wednesday, down from ?,?505-515 per tonne delivered on June 19.Fastmarkets' daily Turkish...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 26 that are worth another look.The Lusaka High Court in Zambia ruled on Wednesday June 26 that the appointed liquidator of Vedanta-owned Konkola Copper Mines (KCM) could not dispose of the assets, which include the country's largest copper smelter Nchanga, according to a court document seen by Fastmarkets. Aluminium...Read More
The Wheeler River camp where Denison is advancing the mine toward production as early as 2022. (Image: Denison Mines)SASKATCHEWAN - Toronto-based Denison Mines Corp. is testing in situ recovery at the Wheeler River uranium project this summer. The ISR tests will help determine the viability of using it for commercial production at Wheeler River, which would be the first uranium mine in Canada to...Read More
Shares of Energy Fuels (TSX: EFR) and Ur-Energy (TSX: URE) moved higher on a report from Bloomberg that the U.S. Department of Commerce is recommending that Washington take measures to protect domestic uranium production.The June 20 article, quoting three anonymous sources briefed on the matter, said the commerce department believes that the U.S. reliance on uranium imports poses a national se...Read More
NEVADA - Blackrock Gold announced that, together with its namesake U.S. subsidiary, it has entered into a purchase agreement for 20 mining claims directly adjacent to its Silver Cloud project in Elko County.Silver Cloud is a 4,537-hectare claim block located near the confluence of the Carlin Trend and the Northern Nevada Rift within the north-central part of the Silver State.In a press release,...Read More
June 26, 2019NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Canada (June 26, 2019) - Mega Uranium Ltd. (MGA: TSX) announces that it has sold its royalty on the Langer Heinrich uranium project in Namibia (the "Royalty") to Uranium Royalty Corp. ("URC") for $1,625,000, following the exercise by URC of its option on the Royalty. URC iss...Read More
Continued tin flows onto the London Metal Exchange, up 50% this month, exerted downward pressure on global premiums in the week to Tuesday June 25. An eroding backwardation in exchange forward spreads makes stockholders uncertain whether to hold or sell tin. US premium holds, but reports of declining demand echo other regions. China premium unchanged with no incentive for traders to i...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 26.Please click...Read More
A continued backwardated exchange price and tepid demand for zinc led to falling premiums for special high-grade (SHG) zinc ingots in Asia and Europe this week. The Shanghai seaborne market is down to the lowest levels in Fastmarkets historical data, while Europe is just $5 per tonne away that same record. Shanghai zinc premiums at record lows Exchange stocks rising on LME and SHFE&nbs...Read More
Arnaud de Weert, former chief executive officer of aluminium producer Aludium, has joined metals conglomerate GFG Alliance as chief executive of upstream activities. GFG, which is the parent company of Liberty House, announced the move on Wednesday June 26. De Weert, Aludium's CEO from 2015 to 2019, will be responsible for Liberty's growing aluminium business, the company said. Prior to leading Al...Read More
European nickel premiums climbed in the week to Tuesday June 25 due to tightening availability after some supply was diverted to China, while the import arbitrage window in China closed late last week causing regional premiums to fall. Arbitrage loss sends both Chinese nickel premiums down European premiums rise with some supply being diverted to Asia US briquette premiums slid on lac...Read More
RAPAPORT... The price millennials are willing to pay for an engagement ring has remained stable over the past three years, even as they become more flexible in their stone choices, research shows. The average price couples spent on engagement rings in 2018 was$5,000, the same amount they shelled out in 2017 and 2016, data fromWeddingWire shows. The wedding-services marketplace surveys approxi...Read More
RAPAPORT... Tara Jewels LLC and parent company Tara Jewels Holdings havefiled for bankruptcy, each listingbetween $10 million and $50 million in outstanding liabilities. Wholesaler Tara Jewels LLC currently claims to have between$500,000 and $1 million in assets, according to the June 21 Chapter 11 filing in the Southern District of New York. Theparent company reported up to $50,000 in assets...Read More
Steel H-beam prices in Northern Europe inched up this week after a string of losses, while Southern European prices dipped for the first time in three weeks, sources told Fastmarkets on Wednesday June 26.Fastmarkets' price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?575-610 ($654-695) per tonne delivered on Wednesday June 26, up from ?,?570-605 per to...Read More
RAPAPORT... Mark Cohen, the co-owner and designer at wholesale jewelrybrand J.J. Marco, passed away on May 27 at the age of 63. Cohen and his wife, Julianne Jaffe, founded the company in1990. They ran it for 15 years as a jewelry wholesaler, supplying to clients suchas Neiman Marcus, Saks Fifth Avenue, and the Metropolitan Museum of Art. Thepair opened a retail location on New York's Madison...Read More