By Avi GilburtBelieve me when I tell you that I so want to be uber-bullish the metals at this time based upon the larger degree structure, especially in silver. However, I have to also outline the micro structures, and I simply do not have a clearly completed micro structure in gold. Whereas silver has certainly provided us with the minimum number of waves to consider its wave [2] as complet...Read More

By: Ira EpsteinMarkets trying to figure this out. You could get a situation where gold benefits. Gold has been in a bit of a corrective mode on the weekly..Read More

Gold prices would have crashed to $1400 BUT for the corona virus and is multiplier effect in the form of short term global slowdown and interest rate cut trend for the rest of the year. US economic data releases point to a strong growth. China has cut custom duties on US imports. Trade war theme of last year has now evaporated. I am not giving a bearish view. I am just trying to tell that if gro...Read More

Brazilian slab export prices widened upward slightly in the week ended Friday February 7, with the first negotiations for April-shipment volumes taking place.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on February 7, up from $460-475 per tonne a week before.Producers were expected to focus on the North American market for April shipment...Read More

An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More

Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 7.China The seaborne price of low-grade manganese ore rose after buyers accepted higher offers for March-delivery cargoes.Higher alloy and portside ore prices also supported the high- and low-grade seaborne markets.Hebei Steel, China's second-largest steel mill - raised its tender price...Read More

The inter-merchant spot market for light iron scrap in the UK dropped by 11.1% in the week ended Friday February 7, with domestic prices broadly reflecting similar moves in the European export markets to Turkey and the Indian subcontinent over the same period, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More

The London Metal Exchange price of nickel fell by more than 3% on Friday February 7 after reaching a temporary high of $13,210 per tonne.And nickel's closing price dropped to $12,770 per tonne, in a day that saw more than 6,300 lots traded.LME nickel stocks in LME-registered warehouses were now just below 204,000 tonnes, with 3,576 tonnes of fresh cancellations seen in the LME's daily stock report...Read More

Zinc's benchmark cash/three-month spread on the London Metal Exchange has moved into contango for the first time in five months after the largest inflow since last April brought on-warrant material to more than 50,000 tonnes. This is the first time LME zinc's on-warrant inventory has breached this level since August 2019. The galvanizing metal's cash/three-month spread traded in a $1.50 per tonne...Read More

Seaborne iron ore prices continued to be buoyed by cyclone-led port impacts in Western Australia on Friday February 7, while doubts remained among Chinese market participants about steelmaking demand. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.59 per tonne, up $0.42 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $82.92 per tonne, up $0.42 per tonne. 62% Fe low-alumina fines, cf...Read More

By Chris MarcheseChief Mining Analyst at GoldSeek & SilverSeekTicker: FSM (NYSE), FVI (TSX)Shares Outstanding: 160.2m (Basic), 164.5m (Fully Diluted)52 Week High-Low: $4.59-$2.39(2/05/2020) Fortuna Silver, one of the stalwarts amongst primary silver producers is now in the transition phase from deriving roughly and equal amount of revenue...Read More

European hot-rolled coil producers have been resisting buyers' attempts to achieve lower prices, sources told Fastmarkets on Friday February 7.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?471.67 ($518.40) per tonne on Friday February 7, up by ?,?1.49 per tonne day on day from ?,?470.18 per tonne a day earlier.Buyers bid for the material at ?,?460-465 p...Read More

The London Metal Exchange price of nickel fell by more than 3% on Friday February 7 after reaching a temporary high of $13,210 per tonne.And nickel's closing price dropped to $12,770 per tonne, in a day that saw more than 6,300 lots traded.LME nickel stocks in LME-registered warehouses were now just below 204,000 tonnes, with 3,576 tonnes of fresh cancellations seen in the LME's daily stock report...Read More

An overview of the battery raw materials markets and their price moves from the past week.Read More

Nickel and cobalt producer Ramu NiCo, owned by state-owned Metallurgical Corporation of China (MMC), has been sued for $5.4 billion for environmental failures, the latest in a long line of environmental woes to befall the Papua New Guinea operation.Ramu's alleged failure to regulate its environmental conduct in Mandang province, Papua New Guinea, has led the municipal government and a consortium o...Read More

Zinc and lead concentrate treatment charges (TCs) declined in January amid illiquid market conditions, with the Chinese Lunar New Year limiting trade and concerns building that the effects of coronavirus will cap market demand.Fastmarkets' assessment of zinc concentrate TC, cif China, dropped to $285-310 per tonne on January 31, from a multi-year high of $285-315 per tonne the month prior.January...Read More

Alumina prices for spot cargoes on a fob Australia basis pushed above $280 per tonne on Friday February 7, as liquidity returned to the market.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $281.97 per tonne on Friday, up from $279.60 per tonne the previous day. The index is now at its highest level since November 7, when it was at $282.12 per tonne.Key drivers: Most r...Read More

China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare earths. The reduced tariffs will come into effect on February 14, China's State Council announced on Thursday February 6. US products that formerly faced tariffs of 15% to enter China will be liable for a 7.5% levy, those that were 10% are now 5%. The annual trade value...Read More

Zinc's benchmark cash/three-month spread on the London Metal Exchange has moved into contango for the first time in five months after the largest inflow since last April brought on-warrant material to more than 50,000 tonnes. This is the first time LME zinc's on-warrant inventory has breached this level since August 2019. The galvanizing metal's cash/three-month spread traded in a $1.50 per tonne...Read More

Deliverable stocks for zinc, copper and aluminium at Shanghai Futures Exchange-approved warehouses soared in the week to Friday February 7 because consumers have delayed their return to work due to the novel coronavirus outbreak that originated in China. Some local governments at major cities in China have extended instructions to keep businesses closed until at least February 10. Market participa...Read More