Copper production at the Deziwa copper-cobalt project in the Democratic Republic of the Congo (DRC) has officially come online in January 2020, following successful trial operations in December 2019, sources told Fastmarkets this week. And the project is expected to start production of cobalt in late first quarter, they added. Deziwa is operated by Soci?(C)t?(C) Minere de Deziwa (Somdez), a j...Read More

Key data from the Wednesday January 15 pricing session in Shanghai.Key driversThe cobalt sulfate price in China continued to edge higher despite slow trades, with some producers holding back from sales of cargoes to be delivered after the Chinese New Year holiday (January 24-30).Other...Read More

Domestic prices for hot-dipped galvanized coil (HDG) in Europe increased over the past seven days, driven up by rising hot-rolled coil feedstock costs, sources told Fastmarkets this week.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was fairly stable at ?,?443.10 ($493.66) per tonne on Wednesday January 16, up by ?,?3.10 per tonne week on week.And Fastmarkets'...Read More

Share this articleTORONTO - Barrick Gold Corp. says its gold production for 2019 is expected to come in near the top end of its guidance, while copper production is forecast to be more than its earlier expectations.The gold miner says preliminary results indicate it produced 5.5 million ounces of gold last year compared with its guidance for between 5.1 million and 5.6 million ounces.Preliminar...Read More

Domestic prices in Europe are almost unchanged day on day, but the mood in the market has remained positive, sources told Fastmarkets on Thursday January 16.European steelmakers have moved offers up and are reluctant to give discounts, according to market sources. A lack of competitive import offers and some seasonal demand recovery are supporting the positive market sentiment.Fastmarkets' daily s...Read More

Today is Thursday, January 16, 2020, and this is your daily gold market update. Let's look at the latest price of gold, value of the dollar, gold/silver ratio, Commitment of Traders data, and exchange-traded fund (ETF) prices to get a sense of how the yellow metal is faring today.Gold PriceThe price of one troy ounce of gold in U.S. dollars today is $1,552.30. It's down -0.26% from yesterday and u...Read More

Today is Thursday, January 16, 2020, and this is your daily oil stocks roundup. Today we're looking at the valuations of Enterprise Products Partners LP (NYSE: EPD), Climarex Energy (NYSE: XEC), and Enable Midstream Partners LP (NYSE: ENBL).Enterprise Products Partners LP (NYSE: EPD)Enterprise Products Partners LP (NYSE: EPD) is a $63.53 billion company today with a one-year return of 5.66%. Let's...Read More

Forty-two consecutive quarters of economic growth...This is what we've been enjoying since Q3 2009 when the Great Recession finally petered out.Government economists have been tracking this stuff since the 1850s, and this has officially been the longest run of uninterrupted growth we've ever seen.Over the past 10 years, GDP has grown by more than 25%, employment has grown double digits, and jobles...Read More

Market participants in China say they are not worried by the expected increase in steel imports from the United States, even after the two major economic powers signed the phase one economic and trade agreement on Wednesday January 15. While the agreement does not set out the increase in quantity of US-origin steel exports China will accept, Chinese market participants do not expected the increase...Read More

Domestic prices for rebar and wire rod in Turkey have inched downward over the past week in line with the falling domestic scrap prices and a stronger lira, sources said on Thursday January 16.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,050-3,060 Turkish lira ($518-520) per tonne including 18% VAT, narrowing downward from the 3,050-3,100 lira...Read More

The United States Department of Commerce has increased the anti-dumping duties applied to some rebar imported from Mexico, and introduced a new duty on previously exempt Mexican producer Deacero, the International Rebar Producers & Exporters Association (Irepas) said on Wednesday January 15.Anti-dumping duties of 3.65% were raised to 6.75% for Mexico's Grupo Simec, and to 7.11% for other producers...Read More

Prices for steel rebar in Egypt fell again in the week to Thursday January 16, due to weak demand and falling billet prices, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,120 ($607-637) per tonne ex-works, including 14% VAT, down from last week's ?,?'9,775-10,580 per tonne ex-works....Read More

Will soaring commodity prices wake up the bond market? We tackle that question in our first Insights newsletter for the year. Our broadcast of the week challenges the anti-fossil fuel mantra of many in the environmentalist movement and our insider of the week is a mining entrepreneur who keeps on building. Click here to read for free. Read More

UK suppliers of steel scrap to domestic consumers have added a further round of price increases for the latest monthly settlements to be delivered in January, sources told Fastmarkets on Thursday January 16.January contracts were up by ?10 ($13) per tonne, the latest step in a climb of ?35 per tonne over three months, after increasing by a similar amount last month and by ?15 per tonne in Novem...Read More

Turkish deep-sea scrap import prices have tumbled with news of a fresh sale heard after negative signs emerged in the United States' export markets, sources said on Thursday January 16.A steel mill in the Izmir region booked a US cargo of 35,000 tonnes of HMS 1&2 (95:5) at $295 per tonne cfr, which would put the HMS 1&2 (80:20) price at $288 per tonne.The previous US cargo sold into Turkey was boo...Read More

The seaborne iron ore index was rangebound on Thursday January 16, likely due to weaker demand from mills, while demand for low-alumina fines seemed robust.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $96.36 per tonne, down $0.08 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $95.40 per tonne, down $0.08 per tonne.62% Fe low-alumina fines, cfr Qingdao: $97.20 per tonne, up $0.09 per...Read More

Trading activity in the CIS export billet market enlivened by mid-January with new bookings coming to light. But the general trend still lacked clarity because the price range of bookings was wide.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $408 per tonne on January 16, unchanged day on day.A 50,000-tonne cargo of Ukrainian special-grade billet was sold to Saudi Arabia a...Read More

Turkish steel billet import prices fell slightly over the past week on the back of weakening scrap costs, and domestic and export billet prices are expected to follow suit soon, sources said on Thursday January 16.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey, was $410-415 per tonne on Thursday, narrowing down from $410-420 per tonne last week.Steel billet supp...Read More

By: Ira EpsteinGold 18-dma is the $1,540's, $20 from the current price = support. Bias is up, trend is down..Read More

- Gary Christenson, The Deviant InvestorIt was the best of times, it was the worst of times, it was the age of QE, it was the age of fiscal foolishness, it was the epoch of the Fed Put, it was the epoch of Greater Fool Theory, it was the season of golden light, and it was the season of fiat darkness.My apologies to Charles Dickens. Miles Franklin sponsored this article by Gary Christenson....Read More