The IMF said the pandemic had a more negative impact on activity in the first half of 2020 than anticipated.It's projected global growth at -4.9% for this year, and -8% in advanced economies, both 1.9 percentage points below the forecasts in its April World Economic Outlook.It also expected a cumulative loss to the global economy from the pandemic crisis of more than US$12 trillion over 2020 and 2...Read More
Whether sellers of shares in iron ore miners have got it right will become clearer in the next few weeks as a silent battle is waged between investors desperate for a better yield on their funds andRead More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM / OTCQX: SYATF / FRA: WK3D) (the "Company" or "Siyata") is pleased to announce that the Company has received two purchase orders valued at $625,000 from a leading distributor servicing US Tier 1 cellular operators for its Uniden (R) UV350 4G/LTE in-vehicle device and additional accessories.Marc Seelenfreund, CEO of Siyata Mobile states, "Growing our...Read More
The South African Police Service (Pretoria) said the Provincial Organised Crime Unit had arrested the three suspects, aged between 28-38, on Sunday night.Read More
Stewart Thomson, Graceland Updates 1. With a new tail wind of significant ETF tonnage growth, gold bullion continues to sport the best charts of all the major asset classes.2. Please click here now. Double-click to enlarge. The $1800 area is significant resistance and gold arrived at this resistance zone as its weak price season began. 3. Rather than selling of...Read More
By: Ira EpsteinGold in an up thrust. Gold at a new high close, highest level since 2012:Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Export prices for Japanese steel scrap fell heavily over the past week with exporters reducing rates to stimulate fresh bookings, market sources told Fastmarkets on Wednesday June 24.Asian buyers shunned Japanese scrap offers last week, citing the fact that prices were too high, and instead concentrated on booking material from other sources such as the United States West Coast.Fastmarkets' price...Read More
The Turkish deep-sea scrap import market remained quiet on Wednesday June 24, with mills continuing to push for lower prices due to weakening finished long steel demand, sources told Fastmarkets.Seel producers in the country have been staying away from deep-sea scrap purchases since the beginning of last week, when demand for rebar, especially in the local market, started to weaken.Prices for...Read More
Broader markets were consolidating this morning, Wednesday June 24, underpinned by better economic data, but conversely held back by concerns about how the spread of the Covid-19 is accelerating in some regions; the spread in some mining countries is now a potential threat to supply.Tuesday's flash June purchasing managers' index (PMI) data shows the global economy is recovering at a better rate t...Read More
Spot cobalt hydroxide payables edged higher in the first half of the week, supported by tight supply and firm bids.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China rose to 65-67% of the standard-grade metal price (low-end) on Wednesday June 24, compared with 65-66.5% on June 19. Spot liquidity was thin ahead of China's Dragon Boat Festival holiday (June 25-27), though a numbe...Read More
Cobalt continued to trade around 10-month lows in the first half of the week, with sellers happy to take lower prices to keep material flowing through their books. Fastmarkets' price assessments for cobalt standard grade, in-whs Rotterdam, and cobalt alloy grade, in-whs Rotterdam, both held at $14.15-14.65 per on Wednesday June 24, stable from the previous day, but both down from $14.15-14.75 per...Read More
China's Ganfeng Lithium has received regulatory approval from the country's National Development and Reform Commission (NDCR) to increase its stake in the Cauchar?--Olaroz lithium project - a joint venture with Lithium Americas - in northern Argentina to 51%.Ganfeng Lithium is awaiting other regulatory approvals from the People's Republic of China to finalize the transaction, including from the Ch...Read More
European producers of hot-rolled coil have raised their domestic prices despite trading activity remaining scarce, sources told Fastmarkets on Wednesday June 24.Some market sources questioned the success of the increase because demand levels do not support a price recovery. Others, however, believed that buyers will have to accept slightly higher prices due to high raw material costs and a lack of...Read More
Share this articleTORONTO - Owners of the Porgera gold mine in Papua New Guinea say they will lay off 2,650 local mine workers by the end of July as the result of a continuing dispute with the federal government.Barrick Niugini Ltd., the joint venture mine owner and operator that is owned 47.5 per cent each by Canada's Barrick Gold Corp. and partner Zijin Mining Group of China, says the cost of...Read More
Domestic prices for heavy steel plate in Northern Europe have moved down over the past week due to limited demand, sources told Fastmarkets on Wednesday June 24.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?450-470 ($508-531) per tonne on June 24, down by ?,?20 per tonne week on week from ?,?470-490 per tonne. The assessment was based on deals,...Read More
I knew it!I couldn't prove it, but I knew it in my gut.I knew Wall Street banks and traders were using some kind of unfair advantage folks like you and me didn't have. Some strategy or method that helped them rack up win after win, no matter what the markets are doing.While "regular" investors just hope to get lucky once in a while.So, I've spent my 20+ years as a trader, trying to reverse-engin...Read More
Crude steel production in Germany fell by 27% year-on-year in May 2020, following a 24% drop in April due to output adjustments made by mills to address the Covid-19-driven deterioration in steel demand, German steel federation WV Stahl said on Wednesday June 24.Germany's mills produced 2.56 million tonnes of crude steel in May, down from 3.51 million tonnes in the corresponding period of 2019, WV...Read More