The low price of lithium and cost overruns on junior projects have made investors cautious about the sector, creating doubt about whether lithium juniors will be able to access capital and ensure a supply of lithium in the years ahead. There are a number of lithium mining projects stacked in the pipeline, all of which require further capital if they are to come into production. But one of the proj...Read More
Today is Wednesday, January 29, 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 $1,570.60. It's up 0.22% from yesterday and up...Read More
Due to the enforced extension of China's Lunar New Year holidays, Fastmarkets will roll over the following minor metals, ores and alloys price assessments on Friday January 31.MB-BI-0002 - Bismuth 99.99% Bi min, in-whs China, yuan/tonneMB-CO-0001 - Cobalt 99.8% Co min, ex-works China, yuan/tonneMB-CO-0017 - Cobalt sulfate 20.5% Co basis, exw China, yuan/tonneMB-CO-0012 - Cobalt tetroxide 72.6% Co...Read More
Today is Wednesday, January 29, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Ovintiv (NYSE: OVV), Holly Energy Partners LP (NYSE: HEP), and Baytex Energy Corporation (NYSE: BTE).Ovintiv (NYSE: OVV)Ovintiv (NYSE: OVV) is a $4.245 billion company today with a one-year return of -74.12%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-va...Read More
Domestic prices for hot-rolled coil have increased across Europe, supported by good order books at European mills and a lack of competitive import offers, sources told Fastmarkets on Wednesday January 29.Northern EuropeFastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?467.08 ($514.49) per tonne on Wednesday, up by ?,?0.52 per tonne day on day from ?,?466.56...Read More
Three years ago, a small, little-talked-about report was released by the Department of the Interior.It was written by a bureau of the department known as the U.S. Geological Survey.The goal of the report was simple: identify information on events, trends, and issues for each mineral commodity. After all, the non-fuel minerals they researched were vital to the U.S. economy.The value added to our GD...Read More
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More
A major Japanese steelmaker is looking to raise its offers for March-shipment hot-rolled coil to its buyers in Asia by $30 per tonne.It plans to offer March-shipment cargoes at $560-570 per tonne cfr to Vietnam and other countries in Southeast Asia."Asian steel mills are likely to increase their offers after the Lunar New Year holiday due to their bullish outlook for the market in February and Mar...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.Sentiment in the seaborne iron ore and Asian steel markets has deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Primary aluminium stocks at the main Japanese port of Nagoya declined by 8% month on...Read More
The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week, with participants anxious about how far ferrous scrap prices would fall, sources told Fastmarkets on Wednesday January 29.Ferrous scrap prices in Turkey climbed sharply between late November and mid-December but then remained steady until mid-January. The Turkish price is a benchmark for the regional...Read More
Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?490-500 ($540-551) per tonne on Wednesday, unchanged week on wee...Read More
The United States' ferrous scrap export market has weakened on both the East and West Coast, with new sales occurring at lower prices to Turkey and South Korea.An East Coast exporter sold 30,000 tonnes of a 90:10 mix of No1 and No2 heavy melting scrap (HMS) at $275 per tonne on Wednesday January 29. Equalized to an 80:20 HMS basis, this cargo would be priced at $272 per tonne cfr.This sale was dow...Read More
Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.A steel mill in the Marmara region booked a cargo of 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cfr, Fastmarkets was told. This would put the HMS 1&2 (80:20) price at $272 per tonne cfr, several market sources said. The US cargo was compared with the...Read More
The seaborne iron ore market was muted on Wednesday January 29, although market participants lowered their estimates for physical transaction prices in response to the sharp downward movement in the Singapore Exchange's derivatives for the steelmaking raw material a day earlier. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $86.84 per tonne, down $6.87 per tonne62% Fe low-alumina fines, c...Read More
Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.Market participants are anticipating a delayed restart of construction and manufacturing activity after the country's Lunar New Year holiday, which has been extended until at least Sunday Februa...Read More
Steel plate prices in Southeast Asia are likely to continue on an upward trajectory due to higher shipping costs and reduced price competition among steelmakers, a source at a leading Japanese mill told Fastmarkets. "Demand from the shipbuilding industry remains far from ideal, but steel producers cannot lower prices any further due to squeezed profit margins," the source said. Stricter emission c...Read More
Gary ChristensonIntense sunshine beamed down upon the canyons of Wall Street, illuminating potholes, dark alleys, secrets and mass delusions. Most people paid no attention because phones, the impeachment circus, Facebook posts, stock prices, and money worries distracted them.It was a normal day.I took a random walk down Wall Street, checked my phone for useless news and accidentally stepped into...Read More
COLORADO SPRINGS, Colo., Jan. 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced multiple ore grade intercepts from its maiden drill program at the "Scarlet" target located 400 meters north west of its operating Isabella Pearl mine in Mineral County, Nevada. Near surface ore grade gold intercepts included 24.38 m...Read More
Craig Hemke Much of the talk surrounding gold thus far in 2020 has focused upon geo-political and pandemic risks. While all of this is relevant to price in the short-term, the discussions being held by the Fed's FOMC this week will have a much more durable impact.At this point, I wouldn't expect any change to the Fed Funds rate on Wednesday when the meeting concludes. The Fed just assured us las...Read More
Clint Siegner, Money MetalsPhysical palladium and rhodium markets are buzzing. Reported prices for both metals leapt higher in recent days.The story behind palladium's move is that a physical shortage has developed in London. Traders sold metal they didn't physically possess. Now they are being asked to deliver the bars and they are scrambling to secure the metal needed, bidding prices higher....Read More