Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year. The decision is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fa...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comJan 21, 2020Chinese New Year buying and more deaths in war-torn Yemen have ignited yet another solid rally in gold.Please click here now: Double-click to enlarge.Gold is staging a breakout from an irregular bull flag pattern and doing so from strong support in the $1550-$1530 zone. I&rsquo...Read More
It has a business improvement programme, dubbed T90 underway, and is looking at expanding at its majority-owned Rosh Pinah mine in Namibia in 2022 which could increase the mine's output by up to 50%.Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 21 that are worth another look.China's hot-rolled coil market was quiet on January 21, with producers suspending their operations before the Chinese New Year, while concerns have emerged over post-holiday demand due to the spread of a mysterious respiratory virus that has claimed several lives.SolGold chief executive off...Read More
Mincon is Lehti's biggest customer, accounting for €9 million of the company's €13 million revenue in 2019. Lehti generated €2.2 million of EBITDA in 2019.Read More
The march began yesterday in Belo Horizonte, will travel throughout the Paraopeba River basin and is set reach Brumadinho on January 25, MAB (Movement of People Affected by Dams) said.The official death toll in late December from Vale's Córrego do Feijão B1 tailings dam failure last January was 259, with 11 people still missing.An internal report by Vale, released last month, pointed...Read More
- Clive MaundAt first glance gold looks like it may be about to advance out of a bull Flag, but there are a number of factors in play that we will examine which suggest that any near-term advance won't get far before it turns and drops again, and that a longer period of consolidation and perhaps reaction is necessary before it makes significant further progress.On the 6-month chart we can see ho...Read More
I've been a hardcore deflationist for so long that it took a wake-up call from the always astute Jesse Felder to jolt me out of my complacency. His latest report is headlined Dr. Copper Could Soon Deliver a Diagnosis of Inflation, and it's an eye-opener. The chart accompanying Felder's think-piece suggests that copper futures have been developing thrust for the last several years that could l...Read More
The IMF now sees growth at 3.3% this year, down from 3.4% and also cut the 2021 forecast to 3.4% from 3.6%. Yet it still lifted the outlook for China to 6%. Slower growth rates imply lower interest rates. Low interest rates along with high inflation will result in continued rise on gold investment demand for the rest of the year. If gold price rise sharply and silver lags, then retail investor...Read More
Zinc and lead smelter Nyrstar has appointed Simon Dent, a longtime sales manager and trader, as its new head of commercial as of January 2020.The role will see Dent leading a commercial team that is responsible for all acid and byproduct...Read More
Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year. The decision is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fa...Read More
Fortis Group has appointed Sebastian Voigt as its chief executive officer, replacing Kris Guns, who held the position at the minor metals and chemicals company since 2014.Voigt is moving into the role of CEO, "in order to drive sales activities both externally and internally," the company said in a release on January 21, and will remain in close cooperation...Read More
Turkish steel producers have continued to hold back from the deep-sea scrap markets, expecting prices to go even lower, sources said on Tuesday January 21.Prices in the deep-sea scrap markets fell by around $15 per tonne late last week, after 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 late on January 15.This would have put the HMS 1&...Read More
Beginning in 2020, Fastmarkets will review its pricing methodologies and price specifications across all its Price Reporting Agency (PRA) divisions - Metals & Mining and Forest Products - on an annual basis rather than twice per year. The decision is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fa...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 21 that are worth another look.China's hot-rolled coil market was quiet on January 21, with producers suspending their operations before the Chinese New Year, while concerns have emerged over post-holiday demand due to the spread of a mysterious respiratory virus that has claimed several lives.SolGold chief executive off...Read More
Profit-taking ahead of the Lunar New Year holiday and nervousness over the outbreak of a new coronavirus in China have led to the market becoming more risk-off this morning, Tuesday January 21.Asian equities are weaker, led by a 2.7% decline in the Hang Seng.Hong Kong's credit rating was cut one position to Aa3 by ratings agency Moody's for its handling of the unrest in the country.Base metalsThre...Read More
AVZ Minerals Ltd (ASX: AVZ) is a mineral exploration company focused on developing the Manono Lithium and Tin Project located in the south of the Democratic Republic of Congo (DRC) in central Africa. AVZ has a 60% interest in the Manono Project. We learned from Nigel Ferguson, who is Managing Director of AVZ Minerals, that Manono is a world class, tier-one asset, with over 400 million tonnes of 1....Read More
Last week, the U.S. and China signed a phase one trade deal that will be big for farmers and manufacturers. The trade pact calls for China to import $95 billion more of certain U.S. goods in 2021 as in 2017, or double the current amount. But there is much more than that.There is intellectual property protection and an end to forced technology transfers. There are agreements to allow more purcha...Read More
In an interview last week with CNBC's Squawk Box Europe, Chief Investment Officer of Smead Capital Management Bill Smead said he believes millennials will prioritize "necessity spending" over the next decade.Smead told CNBC he believes these folks will stop buying "Apple devices, craft beer, and Chipotle burritos" and instead spend their money in a more financially responsible way. Smead said:We h...Read More
Hot-rolled coil prices in the United States might have peaked on high output and market predictions that ferrous scrap prices might weaken in February, some sources warned.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.69 per hundredweight ($593.80 per short ton) on Tuesday January 21, down by 0.8% from $29.94 per cwt on Friday January 17 and down by 2.7% from $3...Read More