Riley Gold is moving full speed ahead to explore two early stage projects in Nevada. Riley Gold Corp. (RLYG:TSX.V) recently optioned two exploration projects, both located in recognized major trends in Nevada, a top-ranked gold mining jurisdiction. Tokop is located in the Walker Lane Trend, while Pipeline West/Clipper is situated in the Battle Mountain-Eureka Trend.Riley Gold has an experienced l...Read More
Peter Krauth explains why he believes silver is heading into a massive bull market. It's getting harder with every passing day to find cheap assets.Stocks, bonds, real estate, they're all pretty pricey. And yet, no one seems to care.Instead, the masses, and asset managers, appear determined to keep pushing them higher.In recent days, the S&P 500, the Dow 30 and the Nasdaq all set new records....Read More
Sector expert Michael Ballanger maintains the "golden bull is back," and in this missive he outlines the reasons why. As this is being penned, I am seated in my den just after 7 a.m. looking out into the pitch darkness of an early December morn and the only light is a reflection off the cool waters of the lovely swamp Lake Scugog emanating from the bustling metropolis known as Port Perry. I can h...Read More
Brazilian vehicle output totaled 238,200 units in November 2020, a 4.7% year-on-year increase from 227,455 units, with exports recovering because of growth in Argentina, Mexico, Colombia and Chile, national car manufacturers' association Anfavea said on Monday December 7.Production hit its highest level since October last year, and figures were the best for November since 2018, Anfavea president L...Read More
America has elected a new President. It was a close race, but Joe Biden eventually won and he will be inaugurated and take office in the White House on January 20. The price of gold rose initially in the aftermath of the elections, only to plunge on the news regarding Pfizer’s vaccine breakthrough, as the chart below shows. This is what we know.But what’s next for the price of gold? Wh...Read More
The price of gold returned to above $1,800. Is the correction over?As the chart below shows, the price of gold rebounded, jumping from $1,763 to $1,811 on Tuesday (December 1) and increased further on Wednesday. As a reminder, the price of gold corrected more than 6 percent in November and almost 15 percent from its peak in August. Now, the key question is whether the worst is behind the gold bull...Read More
Here are five Fastmarkets stories you have missed on Monday December 7 that are worth another look.Brazilian exports of ferrous scrap plummeted in November 2020 with the country's industry focused on the domestic market, although Bangladesh remained the principal destination for the shipments that were made, data from...Read More
Lead and zinc prices posted the biggest gains by the 5pm close on the London Metal Exchange on Monday December 7, with the rest of the complex remaining largely flat but at high levels. Lead's three-month price closed at $2,076 per tonne, a 2.4% increase on Friday's closing price of $2,027.50 per tonne.Its sister metal, zinc, also experienced a rise of 1% to close the day's trading at $2,786.50 pe...Read More
The Turkish scrap import prices have reached their highest since March 2018 on fresh transactions heard over the weekend, sources said on Monday December 7.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 22,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $375 per tonne and 3,000 tonnes of bonus at $385 per tonne cfrThe previous Baltic Sea cargo was sold at...Read More
The price of domestic hot-rolled coil in Northern Europe inched further upward day-on-day on Monday December 7, with sentiment remaining upbeat due to a shortage of material, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?576.67 ($698.90) per tonne on Monday, up by ?,?1.67 per tonne from ?,?575.00 per tonne on December 4....Read More
Here are five Fastmarkets stories you have missed on Monday December 7 that are worth another look.Brazilian exports of ferrous scrap plummeted in November 2020 with the country's industry focused on the domestic market, although Bangladesh remained the principal destination for the shipments that were made, data from...Read More
Lead and zinc prices posted the biggest gains by the 5pm close on the London Metal Exchange on Monday December 7, with the rest of the complex remaining largely flat but at high levels. Lead's three-month price closed at $2,076 per tonne, a 2.4% increase on Friday's closing price of $2,027.50 per tonne.Its sister metal, zinc, also experienced a rise of 1% to close the day's trading at $2,786.50 pe...Read More
Market participants are split on whether rising aluminium premiums in Asia are bullish or bearish for premiums in Europe. Higher premiums in China make it more lucrative to focus on that region rather than on Europe, the majority of participants told Fastmarkets throughout last week. This is propelling the Rotterdam premium higher by driving tonnages away from this market. Fastmarkets assessed the...Read More
Seaborne premium hard coking coal prices edged up on Monday December 7, with active trading in the fob market late last week.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.07 per tonne, up $0.45 per tonnePremium hard coking coal, cfr Jingtang: $169.52 per tonne, up $0.74 per tonneHard coking coal, fob DBCT: $92.68 per tonne, down $0.29 per tonneHard coking coal, cfr Jin...Read More
Market participants are split on whether rising aluminium premiums in Asia are bullish or bearish for premiums in Europe. Higher premiums in China make it more lucrative to focus on that region rather than on Europe, the majority of participants told Fastmarkets throughout last week. This is propelling the Rotterdam premium higher by driving tonnages away from this market. Fastmarkets assessed the...Read More
Transaction prices for domestic steel hot-rolled coil continued to rise across Europe in the week to Friday December 4, due to tight supply from both domestic and overseas suppliers.Following a rise in deal prices, at the end of last week ArcelorMittal pushed official spot offer prices for its second-quarter rolling HRC across Europe to ?,?650.00 ($788) per tonne ex-works with immediate effect. Th...Read More
Monthly imports of used beverage can (UBC) scrap to the United States increased in October, according to the most recent trade data.Total UBC imports rose 13% to 13,331 short tons in October from 11,796 tons in September. UBC imports to the US came predominantly from Canada, which was responsible for over 62% - or 8,299 tons - of total imports, though volumes fell 4.6% month on month from 8,700...Read More
A rising price for copper supplies, material imports and strategic stockpiling in China, and stimulus based on environmental, social and corporate governance (ESG) were identifed by industry analysts as the factors that would most strongly influence the copper market in 2021, during Fastmarkets' Copper Analysts Panel webinar on Thursday December 3.Here are the main takeaways:Imports, stockpiling i...Read More
Deliverable stock volumes of base metals in Shanghai Futures Exchange-registered warehouses were mostly mixed in the week to Friday December 4, with lead inventories up by 9%, the biggest change in percentage terms. Stability in tin stocks was the notable exception.Lead stocks rose by 3,219 tonnes week on week to 39,122 tonnes, from 35,903 tonnes the week before.The largest inflow of lead stocks w...Read More
The price of European aluminium ingot 226 hit its highest since August 2018 in the week to Friday December 4 after an ongoing shortage of scrap raw materials lead to offers, bids and deals at elevated levels, while market participants struggle to secure tonnages for the first quarter of 2021, Fastmarkets was told.Fastmarkets assessed the price of aluminium diecasting ingot DIN226/A380, delivered E...Read More