Share this articleDONKIN, N.S. - Nova Scotia's Labour Department says a stop work order has been partially lifted at the Donkin coal mine in Cape Breton.Production was shut down Feb. 13 after a rockfall in an area of the mine that saw another roof collapse two weeks earlier.There were no injuries reported in either incident, which occurred at an intersection between two coal seams inside the unde...Read More

Here are five Fastmarkets stories you might have missed on Monday March 9 that are worth another look.Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday.Soci?(C)t?(C) le Nickel (SLN) resumed operations and ore shipments at its Thio mine in New Caledonia on March 9, a sp...Read More

Today is Monday, March 9, 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 $1,673.25. It's down -0.03% from yesterday and up 29....Read More

Today is Monday, March 9, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Kinder Morgan (NYSE: KMI), Cenovus Energy (NYSE: CVE), and Vermillion Energy (NYSE: VET).Kinder Morgan (NYSE: KMI)Kinder Morgan (NYSE: KMI) is a $36.81 billion company today with a one-year return of -3.35%. Let's look at its price-to-earnings (P/E) ratio, its enterprise-value-to-...Read More

I was planning on sending out an article today talking about investing in precious gemstones - red diamonds, padparadscha sapphires, Burmese rubies, old mine emeralds, and the like.But a precipitous drop in oil prices last night demands that I address a bad buy call on crude last Friday.The price of crude oil plummeted in overnight trading after an apparent breakdown of the OPEC+ alliance, which h...Read More

Domestic prices for hot-rolled coil in Northern Europe have gone unchanged day on day while buyers remained watchful of the market, sources told Fastmarkets on Monday March 9.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.62 ($547.13) per tonne on Monday, down by ?,?0.02 per tonne from ?,?484.64 per tonne on March 6.The index was calculated based on...Read More

Domestic prices for hot-rolled coil in Northern Europe have been fairly stable over the past week, with minor fluctuations indicating buyers' uncertainty about the future direction of price movements.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.64 ($547.15) per tonne on Friday March 6. This was down by ?,?0.26 per tonne week on week from ?,?484.90...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 heavily oversold INK Canadian Insider Index had an early bounce to 1137.69 before retreating alongside world markets on Friday. The Index came to rest at 1086.68 for a 9.24 point or a 0.8% decline.MACD moved up 4.5 points to -10.8. RSI rose 9.7 points to 28.Support is at 10...Read More

Here are five Fastmarkets stories you might have missed on Monday March 9 that are worth another look.Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday.Soci?(C)t?(C) le Nickel (SLN) resumed operations and ore shipments at its Thio mine in New Caledonia on March 9, a sp...Read More

The recent extension of the health quarantine area in the north of Italy will not affect steel production or deliveries, sources told Fastmarkets on Monday March 9.On March 8, Italian authorities ordered a lockdown across the whole of Lombardy and in 14 provinces in the regions of Veneto, Emilia Romagna, Piedmont and Marche in an attempt to control the outbreak of the 2019-nCoV coronavirus.A large...Read More

Prices for rebar imports into Singapore were stable over the past week because of thin trading activity, market sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $440-445 per tonne for the week to Monday March 9, unchanged from a week earlier.B...Read More

Turkish steel mills remained out of the deep-sea scrap markets at the start of the week, but expect to resume purchases soon, market sources said on Monday March 9.There have been no new bookings so far in March. The last cargo was sold on February 24, which put the price of Baltic Sea- and United States-origin HMS 1&2 (80:20) at around $280 per tonne cfr.Suppliers, especially those in the US, hel...Read More

Auto bundle scrap prices in the Turkish domestic market dropped over the past week on the strength on the local currency against the US dollar, while ship scrap prices were stable, sources said on Monday March 9.The Turkish lira has regained some ground against the US dollar, following the news that Turkey and Russia had agreed a ceasefire in Idlib, Syria, which took effect on Thursday March 5, ac...Read More

Futures prices on the Dalian Commodity Exchange and the Singapore Exchange were downon Monday March 9, with physical seaborne market trading muted while buyers take a wait-and-see approach. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.96 per tonne, down $2.23 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.27 per tonne, down $2.01 per tonne.58% Fe fines high-grade prem...Read More

Fastmarkets published its Commonwealth of Independent States (CIS) export billet index later than scheduled on Monday March 9 due to a technical error but it is now appearing as normal.Fastmarkets calculated the steel billet index export, fob Black Sea, CIS at $392 per tonne on Monday March 9. The index was published in Fastmarkets' pricing database, MInD, later than scheduled, however, due to a t...Read More

China's domestic rebar prices dropped on Monday March 9 due to selling pressure and early losses in the futures market, though sentiment remained positive with more construction projects restarting work after an extended break after the Chinese New Year.Eastern China (Shanghai): 3,370-3,400 yuan ($486-490) per tonne, down 40 yuan per tonne Northern China (Beijing): 3,260-3,300 yuan per tonne, down...Read More

Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday. Spot prices gained further momentum in the first few days of March, even though the number of infections in China has continued rising, and steel inventories have surged.Fastmarkets' price assessment for stee...Read More

Published on March-8-2020: Dear Friend of GATA and Gold:Northman Trader's clear-eyed founder, market analyst, and longtime skeptic, Sven Henrich, writes tonight that the astounding volatility in the financial markets is "screaming" at governments and central banks: "Intervene now!":https://northmantrader.com/2020/03/08/vix-shock/Unlike most analysts allowed to appear on mainstream financial new...Read More

I appeared to occupy a unique place on the lunatic fringe when, many years ago, I started writing about the prospect of a short squeeze on the dollar. When I bounced this idea off a half-dozen finance professors, each had the same response: "Huh?" Their incredulity notwithstanding, it has always seemed a given to me that it would take a catastrophic deflation to wipe out debts, both public and...Read More

Steve St. Angelo, SRSrocco Report (MARCH 8, 2020 Late PM US EST)It begins... the world is finally waking up to the massive economic and financial threat of this global contagion. As reported by Zerohedge, the Middle East markets opened today to a bloodbath as many of the region's stock indexes fell more than 5%, with Kuwait suspending trading after it's market fell 10%. According to the ar...Read More