Stewart Thomson 1. Are gold miners poised to begin a long period of outperformance against gold?2. I've argued that most gold stocks peaked against gold bullion in 2006. GDX $31 and GDXJ $46 are my "launchpad" numbers for a major new bull run, a run that could last for decades.3. Please click here now. Schroders fund manager James Luke believes the miners peaked in 2005.4...Read More
By: Ira EpsteinEnergy prices have taken a beating, other markets too. Gold breaking $1,567.90 would break the trend and stall the market..Read More
I used to identify "corona" with my favorite beer. But now "corona is a dreaded word globally due to virus. Nations and central banks are intervening, talking and doing all sorts of things to alleviate concerns of the negative impact on economy. Financial markets are now manipulated in every nation. Trend from Monday (10th February) will be the key to gold and silver price. Key US economic data...Read More
Frederic Sese has joined Kamoto Copper Company (KCC) as its commercial director. Sese was previously in the raw materials and buying team at ArcelorMittal, and later Aperam. He also...Read More
Participants in the Mexican ferrous scrap market have started to see the first price cuts due to uncertainty in global scrap prices, which led some steelmakers to reverse their earlier increases in bid prices.Some steelmakers have lowered their offers for ferrous scrap due to the global downturn, putting Mexican prices, which were previously believed to be at a peak, under pressure.The downtrend w...Read More
Turkish deep-sea scrap import prices fell sharply on Tuesday February 4, on news of fresh cargoes from the Baltic Sea and the United States.A steel mill in the Iskenderun region booked a Baltic Sea cargo, sources said, comprising 25,000 tonnes of HMS 1&2 (80:20) at $251 per tonne and 5,000 tonnes of bonus at $261 per tonne cfr. The cargo is scheduled to be shipped in March.Meanwhile, another...Read More
Haven asset gold should perform better in 2020 if you take a bearish position on the global economy, ED&F Man Capital Market's independent senior commodity consultant Edward Meir said after topping the 2019 Apex precious metals leaderboard with 97.73% accuracy. Fastmarkets published its Apex full-year 2019 competition results last week."My general feeling on gold is that putting numbers out r...Read More
A rebound is underway across a broad set of markets, with China's CSI 300 index up by 2.5% this morning, after China's central bank pumped money into the financial system and appears to be working to stabilize markets and calm fears.Most Asian equity indices are rebounding.Gold prices are retreating as they pull back from Friday's highs.US 10-year government bond yields are firmer too. Base metals...Read More
The British government has brought forward a ban on the sale of internal combustion engine cars in a move which will boost demand for battery materials, including lithium.UK Prime Minister Boris Johnson unveiled the new date at a launch event for a United Nations climate change gathering. The date of the ban has been moved to 2035 from 2040. The ban will now include hybrids, which have both a batt...Read More
Swiss miner-trader Glencore produced 46,300 tonnes of cobalt in 2019, up 10% from 42,200 tonnes in 2018, mainly due to the ramp up in operations at Katanga in the Democratic Republic of Congo. Cobalt production at Glencore's African copper assets, which includes Katanga and Mutanda, totaled 42,200 tonnes - contained in hydroxide - in 2019, up 10% from 38,400 tonnes a year earlier. The scale down a...Read More
Frederic Sese has joined Kamoto Copper Company (KCC) as its commercial director. Sese was previously in the raw materials and buying team at ArcelorMittal, and later Aperam. He also...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable on Tuesday February 4 but were expected to rise further, sources have told Fastmarkets.Despite bullish sentiment in the market, buyers have avoided booking big volumes, preferring to make deals only for sufficient volumes to maintain their stocks at balanced levels, according to market sources.Fastmarkets' daily steel hot-ro...Read More
We talked with Brad Underwood, Managing Director of Galileo Mining (ASX: GAL) about their nickel and cobalt projects in Western Australia. Galileo is focused mostly on greenfield exploration.Brad Underwood describes them as, "an exploration and prospecting company, wrapped into one." They are experts in target generation and focus on drilling targets to make discoveries. Two projects, both based i...Read More
Today is Tuesday, February 4, 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 $1,550.80. It's down -1.65% from yesterday and up...Read More
Buyers were looking for clarity in the flat steel import markets in the United Arab Emirates and Saudi Arabia this week, with prices rising but uncertainty about the direction the market will take when the Chinese new year holiday break finishes.Higher offers and deals were heard for flat steel imports, Fastmarkets heard on Tuesday February 4, but the market was unsure because buyers did not know...Read More
Today is Tuesday, February 4, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of VAALCO Energy (NYSE: EGY), Enerplus Corporation (NYSE: ERF), and Energy Transfer LP (NYSE: ET).VAALCO Energy (NYSE: EGY)VAALCO Energy (NYSE: EGY) is a $128.45 million company today with a one-year return of 17.11%. Let's look at its price-to-earnings (P/E) ratio, its enterpris...Read More
Joe Kennedy - a famous rich guy and father of JFK - used to tell the story of how he got out of the market before the 1929 crash when a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good.Bernard Baruch, another Wall Street big shot, described the scene before the crash:Taxi drivers told you what to buy. The shoeshin...Read More
As international exchanges continue to encourage trade in their ferrous contracts, Fastmarkets asks market experts for their views on progress in steel price risk management over the past year and the outlook for 2020.Speaking with Fastmarkets a year ago, Phillip Price, steel derivatives expert, and since then founder of Pool, said that he had seen a sea change in the steel sector's attitude towar...Read More
Import prices for steel rebar in the United Arab Emirates increased over the past week, despite only limited demand, while billet prices remained unchanged, sources told Fastmarkets on Tuesday February 4.Demand was constrained because buyers were holding back to see the direction of prices after China's return to the market after the extended Lunar New Year holiday, they added. The...Read More