There are numerous crosscurrents running through the markets this morning, Tuesday August 18, with the base metals mainly firmer and gold rebounding strongly, while equity markets were mixed and the dollar continued to weaken.Broader US equity markets were weaker this morning following Monday's poor US manufacturing data and rising mortgage delinquencies, but the Nasdaq established a fresh record...Read More

Share this articleTORONTO - The materials sector, which includes the gold miners, helped lift Canada's main stock index in early trading Tuesday as the price of gold topped US$2,000 an ounce.The S&P/TSX composite index was up 32.13 points at 16,688.25.In New York, the Dow Jones industrial average was down 4.23 points at 27,840.68. The S&P 500 index was up 7.85 points at 3,389.84, while the Nasda...Read More

* Gold hits one-week high at $2,009.89/oz * Silver jumps as much as 3.5% * Interactive graphic tracking global spread of coronavirus:open in an external browser(Updates prices)By Eileen SorengAug 18 (Reuters) - Gold rose more than 1% on Tuesday toclimb back above the $2,000 level breached earlier this month,as the dollar hit a more than two-year low and investors awaiteddetails of the U.S. Federal...Read More

The economic fallout from the Covid-19 global health crisis is badly affecting the lithium industry in the metal-rich country of Argentina, leaving producers and junior miners facing short-term challenges despite a rosy long-term outlook with the shift to greener mobility gaining pace.Lithium is a key ingredient in the manufacturing of batteries for electric vehicles (EVs) and energy storage syste...Read More

Oil has had an interesting year. Prices started out in the high $50s a barrel and then famously went to negative $38 a barrel before bouncing back sharply to $43 a barrel where we stand today.It was a great flying "V" of a year in oil. But we are in the business of making money. And to make money, we need to know not where oil has been but where it is going.A glance at today's news tells us that o...Read More

Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday August 18, with the mills pushing their offers further upward, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?424.50 ($503.41) per tonne on Tuesday, up by ?,?5.33 per tonne day on day from ?,?419.17 per tonne on Monday.The index w...Read More

China's hot-rolled coil exporters kept offering high on Tuesday August 18 based on stable domestic market, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,080-4,090 yuan ($588-590) per tonne, up 10-20 yuan per tonneOne Shanghai-based trader said the futures price gains continued to improve market sentiment in the spot market, however, the demand mainly came from speculators who w...Read More

Prices for steel rebar in the United Arab Emirates have continued to increase over the past week but buying was only moderate, market sources said on Tuesday August 18.Domestic rebarSince Monday, the country's biggest rebar producer has been offering the product at 1,830 dirhams ($498) per tonne ex-works for orders to be produced in September. This was up from 1,773 dirhams per tonne ex-works for...Read More

Export prices for steel rebar and wire rod from the Commonwealth of Independent States (CIS) increased in the first half of August, supported by a combination of favorable market factors, Fastmarkets heard on Tuesday August 18.The revival of interest in finished long steel products among some European and Middle Eastern suppliers, reduced allocation of materials from Russian mills and the positive...Read More

China's domestic rebar prices edged up further on Tuesday August 18 amid rising futures, though demand in the spot market was largely flat. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($527-531) per tonne, up by 10 yuan per tonne Sellers in the spot market raised their prices following the gains in the futures market, but buyers did not raise their procurement rates. High temperatures...Read More

Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More

Ferrous scrap prices in Mexico have increased in the past week, with some steelmakers trying to secure orders amid a recovery in demand from end-users and higher international prices.Increases were mostly reported in the central Baj?-o region of Mexico, while around the northern city of Monterrey scrap buyers have adopted a wait-and-see stance."There is more pressure for price increases in central...Read More

The Turkish steel producers have continued to stay away from the deep-sea scrap markets due to weak demand for their finished long steel products, sources told Fastmarkets on Tuesday August 18.Turkish steel mills paused their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) reached $285 per tonne cfr for US- and Baltic Sea-origin material.The poor demand for long steel was the mai...Read More

The CIS export billet market was under pressure from lower bids from foreign customers early this week, Fastmarkets has heard, and trading activity on Tuesday August 18 was limited.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $397 per tonne on August 18, down by $3 per tonne day on day.Customers in Turkey were ready to pay $410 per tonne cfr for material with prompt deliv...Read More

Prices for steel rebar in the United Arab Emirates have continued to increase over the past week but buying was only moderate, market sources said on Tuesday August 18.Domestic rebarSince Monday, the country's biggest rebar producer has been offering the product at 1,830 dirhams ($498) per tonne ex-works for orders to be produced in September. This was up from 1,773 dirhams per tonne ex-works for...Read More

GoldMining has assembled through acquisitions a multinational gold portfoliocomposed of 11.4 million ounces gold in the Measured & Indicated categories and 13.8 million ounces gold in the Inferred category and recently formed a royalty subsidiary that former Goldcorp CEO David Garofalo will head. Almaden projectGoldMining Inc.'s (GOLD:TSX; GLDLF:OTCQX) strategy is disciplined: buy resource-stage...Read More

Lion One Metals aims to better understand the orientation of the feeder structure. Gold veining on hole TUDDH500Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) finished diamond drilling hole TUDDH500 at its Tuvatu project on Fiji, received gravimetric fire assay results and started another hole, it announced in a news release.The British Columbia-based explorer drilled TUDDH500 to a depth of 863.4...Read More

Peter Krauth discusses Warren Buffett's big move into gold and discusses why the price of the metal is likely to climb much higher. Warren Buffett has long been known as one of the biggest gold-haters around. Yet in one move he's helped gold go mainstream.The "Oracle of Omaha's" about face could be the ultimate Buy Signal.For millions of investors, seeing Buffett dump banks while buying gold is l...Read More

Troilus Gold's recent project resource update and the company's undervaluation in the market are discussed in a Cormark Securities report. In a July 29 research report, Cormark Securities analyst Richard Gray reported that Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) quickly grew the resource at its Troilus gold project in Quebec to 8.11 million ounces of gold equivalent (8.11 Moz Au eq) yet remains...Read More

Independent financial analyst Matt Badiali discusses Warren Buffett's recent move. The biggest news in gold mining, after the record price, is Warren Buffett's Berkshire Hathaway recent disclosure. They informed the world that they invested in Barrick Gold Corp. (ABX:TSX; GOLD:NYSE).That sent financial twitter ablaze, because Buffett is a famous gold hater. He famously said in 1998:"(Gold) gets d...Read More