Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday March 28*Copper -$139.98 (-944.04 yuan) Aluminium -$293.97 (-1,982.63 yuan) Zinc -$148.71 (-1,002.96 yuan) Nickel -$356.58 (-2,404.90 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
China's domestic rebar market was flat on Thursday March 28, with mills' higher output discouraging buyers from placing bookings while lower inventory levels in the spot market kept sellers from lowering their prices.Domestic Eastern China (Shanghai): 3,830-3,870 yuan ($570-576) per tonne, unchangedNorthern China (Beijing): 3,830-3,880 yuan per tonne, unchangedA declining futures market and data s...Read More
London Metal Exchange three-month base metals prices continue to produce sluggish price action, down 0.2% on average in the morning of Thursday March 28. Copper bucked the trend with a mild gain of 0.1% while aluminium was unchanged at $1,903 per tonne. But LME zinc and lead prices were down 0.1% while nickel and tin were down 0.5%. Trading volume was fairly subdued at 4,325 lots as of 6:48am Lond...Read More
Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsThose numbers are generated using a long term copper price of US$3.08 per pound and an 8% discount rate.Read More
London Metal Exchange three-month base metals prices continue to produce sluggish price action, down 0.2% on average in the morning of Thursday March 28. Copper bucked the trend with a mild gain of 0.1% while aluminium was unchanged at $1,903 per tonne. But LME zinc and lead prices were down 0.1% while nickel and tin were down 0.5%. Trading volume was fairly subdued at 4,325 lots as of 6:48am Lond...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipSocial opposition remains key industry hurdle in ColombiaSPONSOREDverisk maplecroftGlobal Atomic's 'transformational discovery' changes everythingSPONSOREDglobal atomic corpThe company said the results from SES003 had not been analysed until now "due to its general...Read More
Chinese import and export volumes of flat-rolled stainless steel shrank by nearly 50% year on year in February, amid the country's ongoing anti-dumping investigation into stainless hot-rolled and semi-finished products.Imports of stainless steel flat products into China totaled 85,788 tonnes in February, down by 68,630 tonnes or 44.4% from 154,418 tonnes in February 2018, according to Chinese cust...Read More
Persistently weak demand for stainless steel in China pushed down domestic prices for such products over the past week.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,500-14,900 yuan ($2,156-2,216) per tonne including value-added tax for the week ended Wednesday March 27, down 100-200 yuan per tonne from a week earlier.End-...Read More
China's intention to cut the rate of value-added tax to 13% has already been credited for an increase in imported ore prices and having a bearish effect on alloys, Fastmarkets heard on Wednesday March 27.The rate of VAT in the east Asian country applicable to manufacturers will be lowered from April 1 by 3 percentage points, to 13%, with the intention of stimulating China's slowing economy.The tax...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 225,000 from downwardly revised 216,000 last week. Actual was 211,000. Consensus for next estimate of fourth quarter real GDP was a fall to 2.4% fr...Read More
If wealthy people have the same 24 hours in a day, and work just as hard as others, how do they acquire such incredible wealth?This was the question George Samuel Clason set out to answer in his timeless classic The Richest Man in Babylon. Since 1926, Clason's book has sold more than 2 million copies and has been translated in 26 different languages. Set in ancient Babylon, supposedly the wealthie...Read More
Brighthouse Financial (BHF) isn’t just a cheap stock. It is an unfathomably cheap stock.With a share price currently bouncing are $35, the insurance company is currently trading at 0.29 times book value per share.How cheap is that?Similar insurance companies are currently trading for 0.80 times book value.In order for Brighthouse to trade at their competition’s multiple, the company...Read More
The amount of gold in proven and probable reserves at Guyana Goldfields' (TSX: GUY) Aurora mine in Guyana has been lowered 1.69 million oz., compared with estimates a year ago, based on "a new and more appropriate mine model," the company says.Total proven and probable reserves in open-pit and underground categories at the end of 2018 stand at 2.27 million oz. gold (in 26.95 million tonnes grading...Read More
The Canadian Mining Hall of Fame (CMHF) bestowed honours on five industry giants at its thirty-first annual induction ceremony in January at the Metro Toronto Convention Centre. The 2019 inductees - Kate Carmack, James M. Franklin, James W. Gill, A. M. (Sandy) Laird and Brian K. G. Meikle - join 176 existing CMHF members."Tonight we celebrate the lives of four men and one exceptional woman who thr...Read More
Golden Star Resources (TSX: GSC; NYSE: GSS) has increased its overall reserves by 6%, net of mining depletion. It offset a loss in reserves at its Prestea gold mine by adding reserves at its Wassa gold mine, both located in Ghana.In total, the company has 19.4 million proven and probable tonnes grading 2.86 grams gold for 1.79 million oz. gold across its Wassa and Prestea gold mines.Its biggest lo...Read More
K92 Mining (TSXV: KNT; US-OTC: KNTNF) intersected 175 metres of 0.28 gram gold per tonne and 0.22% copper from 259 metres downhole at its Blue Lake porphyry prospect, 4 km southwest of its Kora deposit, at the Kainantu gold mine in Papua New Guinea.The hole ended in mineralization.The company discovered the prospect in 2017, after a surface mapping and sampling program. It completed a soil grid at...Read More
As the Canadian Mining Hall of Fame (CMHF) inducted five new members - Kate Carmack, James Franklin, James Gill, Sandy Laird and Brian Meikle - at its thirty-first annual induction ceremony in January at the Metro Toronto Convention Centre, five tribute videos were premiered during the evening.For full coverage of the event by The Northern Miner, read: Canadian Mining Hall of Fame welcomes five tr...Read More
Western Atlas drill-ready in NunavutSPONSOREDwestern atlas resourcesSocial opposition remains key industry hurdle in ColombiaSPONSOREDverisk maplecroft"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftGlobal Atomic's 'transformational discovery' changes everythingSPONSOREDglobal atomic corpThe International Lead Zinc Study Group...Read More
Western Atlas drill-ready in NunavutSPONSOREDwestern atlas resourcesSocial opposition remains key industry hurdle in ColombiaSPONSOREDverisk maplecroft"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftGlobal Atomic's 'transformational discovery' changes everythingSPONSOREDglobal atomic corpLiving in the UK for so long, as I have...Read More
The Federal Government of Australia today launched the Critical Minerals Strategy 2019, aimed at putting emphasis on what politicians call "the industries of the future." In their view, these sectors include agritech, aerospace, defense, renewable energy and telecommunications."We have some of the world's richest stocks of critical minerals and while the market for some of our minerals such as lit...Read More