Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe court analysed three rulings issued in 2019 and concluded there was no clear and express prohibition in the country's constitution against undertaking popular votes about mining, that Ecuador'sRead More

Ferrous scrap prices in most global markets dipped on weaker demand during the week ended Friday January 10, but the Indian market remained strong.Turkish market dips on fewer trades United States prices unchanged Limited buying sees Vietnam prices drop Taiwan prices down on weaker demand Indian prices continue to increase TurkeyPrices for ferrous scrap into Turkey fell this week, with only o...Read More

Sentiment in the Turkish domestic scrap market turned negative over the past week due to weakening local finished long steel prices, sources told Fastmarkets on Monday January 13.Domestic long steel prices fell slightly due to the recent strengthening of the Turkish lira against the US dollar.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic,...Read More

Seaborne iron ore prices rose on Monday January 13 amid concerns that shipments from Australia would be disrupted by another cyclone. 62% Fe fines, cfr Qingdao: $95.93 per tonne, up $2.01 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $94.97 per tonne, up $2.01 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $96.20 per tonne, up $1.17 per tonne. 58% Fe fines high-premium, cfr Qingdao: $81.1...Read More

Operations at Australia's Curragh coal mine have been suspended following a fatal accident over the weekend, the miner said on Monday January 13. Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.26 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $160.87 per tonne, up $2.77 per tonne Hard coking coal, fob DBCT: $125.01 per tonne, up $2.68 per tonneHard...Read More

China's domestic hot-rolled coil market remained subdued on Monday January 13, although a weakening dollar appeared to give some support to export prices.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($561-562) per tonne, narrowed by 10 yuan per tonne on both endsNorthern China (Tangshan): 3,600 yuan per tonne, down 20 yuan per tonneSources in both eastern and northern China said that trading...Read More

Eastern China's rebar prices fell further on Monday January 13 on softening demand, though those in the northern region held up amid a lack of selling pressure.Eastern China (Shanghai): 3,650-3,680 yuan ($527-532) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,540-3,560 yuan per tonne, unchangedDemand continued to weaken during the day with less than two weeks to go before the start...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Lululemon added $5.77 to $240.61 after the company raised its fourth quarter earnings and revenue guidance.Goldman Sachs gained $1.29 to $243.40 after JMP Securities upgraded the stock to Outperform from Market Perform. General Motors (GM $34.65) is expected to open higher after announci...Read More

Silicon metal prices in the United States' spot market resumed their downward trend this month due to weak spot demand, with buyers working through annually contracted material priced even lower than spot silicon.Fastmarkets' monthly assessment of the price for silicon, ddp US, was at $0.91-0.94 per lb on Friday January 10, down from $0.92-0.95 per lb one month earlier and off from $1.16...Read More

In recent decades, the Fed has engaged in a series of policy interventions and market manipulations that have paradoxically left it more powerful even as those interventions left a trail of crashes, collapses and calamities.This contradiction between Fed omnipotence and Fed incompetence is coming to a head. The economy has been trapped in a prolonged period of subtrend growth. I've referred to it...Read More

We’ve all seen zombie movies where the good guys shoot the zombies but the zombies just keep coming because… they’re zombies!Market observers can’t be blamed for feeling the same way about former Fed Chair Ben Bernanke.Bernanke was Fed chair from 2006-2014 before handing over the gavel to Janet Yellen. After his term, Bernanke did not return to academia (he had been a profe...Read More

Manganese alloys prices in Europe and India increased in the week to Friday January 10 against steady increases in manganese ore markets since early December, although industry sources believe further increases will be limited due to relatively soft consumer demand.In Europe, the silico-manganese lumpy 65-75% Mn, basis 15-19% Si (scale pro rata), major European destinations market price climbed by...Read More

Key data from the pricing sessions in Asia and Europe in the week to Friday January 10.ChinaKey drivers  The price of antimony, MMTA standard grade II, ddp China remained unchanged for the third consecutive week in the latest assessment period ended on Wednesday January 8 after many suppliers held offer prices firm. Many domestic suppliers were reluctant to compromise further on off...Read More

Despite uncertainty surrounding downstream demand, the price of cobalt sulfate in China has jumped by more than 12% so far this year, with suppliers either offering the material at aggressively high levels or holding back from sales.Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China was 49,000-51,000 yuan ($7,080-7,369) per tonne on Friday January 10, up by 5,000-6,000 yuan...Read More

Key data from the pricing session in Shanghai in the week ended Friday January 10. Key drivers  The export price was supported by an appreciation in the yuan, a rising domestic price and higher domestic logistics fees ahead of the Lunar New Year in two weeks time. The yuan was trading at 6.930 to the...Read More

German engineering giant Siemens will honour a controversial contract to supply signalling systems to Adani's Carmichael coal mine in Australia, despite being under fire for the project's alleged climate implications."We have just finished our special meeting ... We have evaluated all the options and have concluded that we must fulfil our contractual obligations," chief executive, Joe Kaeser, twee...Read More

The Dow Jones Industrial Average rose 0.66% to 28,823.77 and the S&P 500 Index gained 0.94% to 3,265.35. Spot gold climbed US$9.80 per oz. to finish at US$1,562.10 per ounce.Nutrien, the world's largest provider of crop inputs and services, bought 100% of the equity of Brazilian agricultural retailer Agrosema Comercial Agricola. Agrosema has annual sales of US$60 million across 12 farm centres, wi...Read More

The S&P/TSX Venture Composite Index fell 0.87% to 582.35. Spot gold moved higher to US$1,562.10 per oz., up US$9.80 per ounce.Shares of K92 Mining rose 20 ? to $3.20 on the back of record annual production from its Kainantu mine in the Eastern Highlands of Papua New Guinea. The company reported 2019 production hit a record 79,838 oz. gold, 951,792 lb. copper and 22,984 oz. silver for a total of...Read More

The S&P/TSX Composite Index rose 0.99% to 17,234.49 during the first full trading week of January. The S&P/TSX Global Mining Index fell 1.15% to 80.85, the S&P/TSX Global Base Metals Index lost 1.06% to 107.11, and the S&P/TSX Global Gold Index (USD) dropped 2.39% to 226.12. Spot gold climbed US$9.80 per oz. to US$1,562.10 per ounce.Record quarterly and year-end results sent Kirkland Lake Gold up...Read More

Lundin Gold (TSX: LUG) has reported that the ramp up of its Fruta del Norte gold mine and plant is on schedule and within budget. The mine - Ecuador's first large-scale gold mine - produced 28,678 oz. gold last year.Based on an update to its mine plan, life-of-mine all-in sustaining costs are now expected at US$621 per oz., up slightly from its prior estimate of US$583 per ounce. The increase is p...Read More