By: Avi GilburtThe pundits and the media were debating for several weeks leading up to the last Fed meeting about what the Fed was going to do and the effect they thought it would have on the market. And, it amazes that the great majority of the market does not realize how much of a waste of time these debates really are. But, as I often note, many market participants and analysts are simply...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday September 20.ChinaKey drivers The price for antimony, MMTA standard grade II, ddp China, continued to rise in response to some domestic suppliers' raising offer prices a step further on resumed buying interest.Some domestic antimony consumers returned to the market for replenishment for fear of more rounds of price rises i...Read More
RambusTonight I would like to start out by looking at the old ratio combo chart that has the GOLD:XAU ratio chart on top with the XAU on the bottom. I'm not going to go over all the details the ratio combo chart has, only to emphasize the 20 year 6 point parabolic arc which shows how gold had been outperforming the XAU until the small double top at 24.33 in late 2015. When the parabolic arc was...Read More
By: Ira EpsteinGold turning over? Market is confused from Friday's Chinese news..Read More
Turkish steel mills were still booking deep-sea scrap at stable prices at the start of the week while negotiations for further transactions continued, sources said on Monday September 23.A steel producer in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $233 per tonne, 4,000 tonnes of shredded at $238 per tonne and 4,000 tonnes of bonus at $243 per tonne cf...Read More
China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on Monday September 23. The latest quota, permitting less shipments than in the previous three releases, brings the total volume of copper scrap imports allowed into the country in the second half of 2019 to 484,767 to...Read More
Turkish domestic scrap prices have gone down over the past week in response to the downturn in imported scrap values, sources said on Monday September 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,340-1,450 ($233-252) per tonne on Monday, down from last week's TRY1,400-1,575 per tonne.Following the decline in imported scrap values,...Read More
TIMMINS - Ontario's government is continuing to promote tourism in the province and supporting the francophone community in Timmins.Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced Centre culturel La Ronde is receiving $1 million through the Northern Ontario Heritage Fund Corporation (NOHFC) to build a new, modern 12,000-square-foot building on the site of its fo...Read More
Oil prices opened this week cooling off as the market digests reports that Saudi Arabia has already restored production to over 75% of capacity and will return to full output as early as next week following the drone attack on the nation's facilities on September 14.The strike on the Abqaiq and Khurais facilitates (some of the largest in the world) started massive fires and reportedly caused major...Read More
China's domestic hot-rolled coil prices rebounded on Monday September 23 with market participants expecting a supply drop due to production cuts, while exporters remained relatively conservative amid fierce competition from abroad.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($515-517) per tonne, up 50-60 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, up 40-60 yuan per tonneB...Read More
Marathon Gold Corporation (TSX: MOZ) is a Toronto based gold Company, rapidly advancing its 100%-owned Valentine Gold Project, located in central Newfoundland, one of the top mining jurisdictions in the world. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. We learned from Dr. Matt Manson, President and CEO of Marathon Gold, that...Read More
Troy Resources Limited (ASX: TRY) is a junior gold producer, operating the Karouni project in Guyana. We learned from Mr. Ken Nilsson, CEO and Managing Director of Troy, that they have been in existence since 1987, and are one of the longest survivors in their class of small to mid-cap producers. We learned from Mr. Nilsson that Troy has a number of exploration-stage prospects in Guyana including...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index shot up 16.8 points or 1.5% to 1147.71. The Index has now gained nearly 77 points and is on a 4-week winning streak.Its MACD histogram which remains locked in a multi-month sub-10 range, declined 1.75 points to 3.83. On the other hand, the MACD (b...Read More
China's rebar prices moved up on Monday September 23 after news broke that a few steelmaking regions would restrict production from this week. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($516-520) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,570-3,610 yuan per tonne, up 20 yuan per tonneLocal authorities in Tangshan are tightening steelmaking restrictions ahead of the countr...Read More
Offer prices for Turkish rebar to Singapore fell again in the week to Monday September 23, due to weak scrap prices....Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Turkish steel mills were still booking deep-sea scrap at stable prices at the start of the week while negotiations for further transactions continued, sources said on Monday September 23.A steel producer in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $233 per tonne, 4,000 tonnes of shredded at $238 per tonne and 4,000 tonnes of bonus at $243 per tonne cf...Read More
Turkish domestic scrap prices have gone down over the past week in response to the downturn in imported scrap values, sources said on Monday September 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,340-1,450 ($233-252) per tonne on Monday, down from last week's TRY1,400-1,575 per tonne.Following the decline in imported scrap values,...Read More
Seaborne iron ore prices increased on Monday September 23 following steel market gains, amid speculation there will be further restrictions on steelmaking in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.12 per tonne, up $1.56 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $94.51 per tonne, up $1.56 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.38 per t...Read More
Turkey produced 22.55 million tonnes of crude steel in January-August 2019, down by 10.46% from 25.19 million tonnes in the corresponding eight-month period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive...Read More