Export prices for Japanese ferrous scrap continued to fall over the week to Wednesday March 25, but tighter supply offered some support to prices for Shindachi busheling, market sources have told Fastmarkets.Japanese scrap traders expected difficulties in procuring Shindachi material in the short term after carmaker Toyota closed several production lines for 3-9 days from Wednesday. And fellow car...Read More

National lockdowns in India and South Africa raised concerns about supply in the seaborne iron ore market on Wednesday March 25 and caused prices to rise for two consecutive days after a massive drop on Monday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.34 per tonne, up $3.37 per tonne 62% Fe low-alumina fines, cfr Qingdao: $88.82 per tonne, up $3.32 per tonne 58% Fe fines high-gr...Read More

The trading of metals into India is likely to be severely affected by difficulties in opening letters of credit (LCs) now that the country is locked down to contain the spread of the novel coronavirus (2019-nCoV), sources told Fastmarkets on Wednesday March 25.The Indian government imposed the 21-day nationwide lockdown beginning Wednesday, which includes strict curfew measures on the country's 1....Read More

India's steel sector will not come under any restriction during the country's 21-day lockdown to contain the spread of the novel coronavirus (2019-nCoV), though mills continue to face various uncertainties with regard to the move.The steel ministry, in a letter addressed to the sector seen by Fastmarkets, said it was aware of problems faced by the country's steelmakers with regard to the entry of...Read More

United States politicians agreed a $2-trillion stimulus package to support the US economy during the ongoing novel coronavirus (nCoV 2019) pandemic, and markets, especially equity markets, have reacted well. The Dow Jones Industrial Average (DJIA) closed up by 11.4% on Tuesday March 24, while Asian Pacific equity indices followed up that positive performance with gains of between 2.7% and 8% this...Read More

Tin ingot premiums in the United States moved up in the week to March 24 on physical supply concerns, with similar fears affecting European market sentiment while Chinese premiums are flat amid ample availability.This all comes despite a near 27% decline in the London Metal Exchange tin price over a fortnightly period.European premiums hold firm but availability a concern. Supply concerns push up...Read More

China's aluminium producer Jisco has started to place their smelters on maintenance following a multi-year low aluminium price on the Shanghai Futures Exchange, sources told Fastmarkets on Wednesday March 25.The company idled 100,000 tonnes of aluminium capacity for an overhaul in the smelter, based in Jiayuguan city, last week but may increase the reduced capacity in the coming days if the low al...Read More

China's domestic rebar prices regained some strength on Wednesday March 25 on a pick-up in buying activity amid rising futures. Eastern China (Shanghai): 3,470-3,500 yuan ($491-495) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,380-3,400 yuan per tonne, narrowed upward by 20 yuan per tonne A trader in eastern China said his sales volume during the day was about a third higher th...Read More

The London Metal Exchange three-month tin price was the standout performer during morning trading on Wednesday March 25, while its peers were suppressed by a pessimistic market reaction to global financial stimulus announced to combat the economic effects of the novel coronavirus (nCoV 2019). "It seems that the market has realized that huge stimulus packages to rebuild economies means just that, a...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade. Index futures were virtually unchanged following release of the February Durable Goods Orders report at 8:30 AM EDT. Consensus was a decline of 0.8% versus an upwardly revised gain of 0.1% in January. Actual was an increase of 1.2%. Excluding Transportation Orders, consensus was a drop...Read More

The Netherlands is extending a partial lockdown until June to 1 to combatthe coronavirus (2019-nCoV) pandemic but the Port of Rotterdam, Europe's largest port by cargo tonnage, will remain operational, the Port Authority said"The port is working as usual and operations continue 24/7," Allard Castelein, president and chief executive officer of the Port of Rotterdam, said in a statement on Tuesday M...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday March 25. Key drivers  There are supply worries due to the novel coronavirus (2019-nCoV) pandemic. Some suppliers say they are logistical troubles, although many steelmakers have cut production, leaving markets reasonably balanced for now.  Titanium scrap prices also steady and like alloy may be subject to higher offer pri...Read More

QUESTION: The goldbugs hate you, but they read you. Now they are claiming that the virus will kill fiat currencies. My question is simple. If the government cancels the paper currencies and moves everything to digital, what is the difference? Isn’t that still their claimed fiat currency?PGANSWER: Yes. They refuse to surrender their idea that money must be backed by some commodity. They canno...Read More

ELKO, Nevada, March 25, 2020 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today is pleased to announce that it will hold live electronic investor update calls on March 31, 2020 and April 7, 2020 at 11:30 am ET hosted by CEORoadshow. Mr. Edward Karr, President & CEO will update listeners and USAU shareholders on the outlook for the Company and will be available for questions after the initia...Read More

In November, Moody's Investors Service forecast G-20 economies in 2020 would grow by 2.6%, but now estimates real GDP will contract by 0.5%, followed by a pick-up to 3.2% in 2021.The ratings agency projects "cumulative contraction" over the first and second quarters of 2020 of 5.4% in Germany, 4.5% in Italy, 4.3% in the U.S., 3.9% in the U.K. and 3.5% in France."Although supportive fiscal and mone...Read More

Chile's copper miner Codelco may not regain its position as the world's top producer of the red metal this year, as delays in upgrades and expansion projects caused by measures to stop the spread of the coronavirus add to the impact of low prices and lack of funding.The miner, which hands all its revenue over to the state, was in the midst of implementing a US$40 billion, 10-year modernization of...Read More

The gold price rallied again in spectacular fashion on Tuesday, as panicked investors scrambled for hard assets on the back of COVID-19 closures of mines and refineries and unprecedented monetary action by the U.S. central bank.On the Comex market in New York, gold for delivery in April, the most active contract, closed the session at US$1,660 per oz., up US$93 compared to Monday's close. Earlier...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe convenience of one provider with pay-as-you-need flexibilitySPONSOREDmicromineDay two of self-isolation: bored mental but looking on the bright side; my hands have never been cleane...Read More

Yields on both the 1-month and 3-month Treasury bills dipped below zero WednesdayRead full newsRead More

The Canadian miner is studying options to maintain control.Read full newsRead More