Adam HamiltonArchivesMar 27, 2020 The carnage in the silver miners' stocks has been apocalyptic, fueled by the astounding COVID-19 stock panic. As terrified traders frantically dumped everything and ran for the hills, silver and its miners' stocks crashed. That catastrophic anomaly has potentially created epic contrarian buying opportunities. The silver miners' recently-reported Q4'19 results reve...Read More

An overview of the minor metals markets and the reasons for their latest price moves.Read More

First up, the slump in the Aussie dollar from last (calendar) year's average of US69c to below 60c has softened the blow of mineral commodity price falls (gold is a reserve asset and is doing its ownRead More

The company, which recently had to ensure the market it had no ticking debt time bomb lurking in its accounts, said the decision was made to maximise its liquidity in the uncertain age of COVID-19. The dividend pause was considered a prudent measure, and follows other companies in the mining contracting space including Perenti Global, Downer EDI, Lycopodium and Austin Engineering.  ...Read More

The Zambian government will remove the 5% import duty on metal concentrates to ease the pressure on copper and cobalt producers during global lockdowns imposed to halt the spread of the Covid-19 virus and and sharp declines in commodity prices. This is among a series of relief measures announced by the country's finance minister, Bwalya Ng'andu, on Friday March 27, in an official statement which a...Read More

The price of austenitic alloy steel scrap in Europe plunged this week because of a sharp drop in demand, despite a lack of availability, sources told Fastmarkets on Friday March 27.The low demand has stemmed from a mixture of closures and reduced output rates at stainless steel mills, meaning a reduction in their feedstock requirements. In Italy, all mills have suspended operations following a gov...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 317,40535,48950,438154,761456,470522,604542,397 Change from Prior Reporting Period -18,885-1,270-3,626-28,187-54,782-50,698-59,678 Traders 18073785254268172 Small Speculators LongShortOpen Interest 51,32131,528573,925 -8,847133-59,545 non reportable posit...Read More

By: Ira EpsteinRead More

The price of ferrous scrap imported into India plummeted this week after the announcement of a 21-day lockdown across the country, sources told Fastmarkets on Friday March 27.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $247 per tonne on Friday. This was down by $44 per tonne from $291 per tonne one week earlier and at its lowest since October 24, 201...Read More

The inter-merchant spot market for light iron scrap in the UK dropped by more than 23% in the week to Friday March 27, after a fall of almost 19% the previous week, and now stands at its lowest level since September 2016.The slump follows a collapse in demand for steel from car makers in the UK and Europe, with many car makers suspending output until further notice. Much of the UK's steel producti...Read More

Shares in the gold miner lost 15% Thursday after it deferred the payment of its interim dividend and withdrew full-year guidance due to the impacts of the outbreak.Read More

Markets are looking quite mixed this morning, Friday March 27, with most Asian-Pacific equity indices up, the pre-market Dow Jones Industrial Average (DJIA) down by 1.1%, while base metals prices on the London Metal Exchange and Shanghai Futures Exchange are up and gold is down from recent highs.It is not surprising the markets are mixed as it is confusing that the DJIA rallied by 6.4% on Thursday...Read More

An overview of the battery raw materials markets and their price moves from the past week.Read More

Fastmarkets is proposing to increase the pricing frequency of its cobalt hydroxide payable indicator, min 30% Co, cif China, to twice weekly from weekly.The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end), is currently published weekly, on Wednesdays.Following an initial consultation with the market, and a review of typical...Read More

Key data from the Friday March 27 pricing session in Shanghai.Key drivers The cobalt metal price took a break from its persistent downturn amid the supply disruptions following the 21-day lockdown in South Africa, which started midnight on Thursday March 26. Producers have attempted to raise offers while traders continued to destock...Read More

The demand for precious metals has hit fever pitch amid economic uncertainty and price volatility as millions around the world awaken the gold bug within.But there's one big problem: delivery.Social distancing, business closures, government lockdowns, and grounded airplanes are significantly disrupting gold's global supply routes. And it has resulted in long shipping delays, low inventories, canc...Read More

ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubar??o facility, in the country's southeastern Esp?-rito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.The blast furnace at the Tubar??o unit, which has capacity to produce 2.8 million tonnes of crude steel per year, will be halted in early April for...Read More

European domestic prices for hot-rolled coil have not changed despite the decline in import offers, sources told Fastmarkets on Friday March 27.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was unchanged day on day at ?,?473.00 ($518.70) per tonne on March 27.Friday's index was calculated based on offer prices heard at ?,?470-480 per tonne ex-works as well as "work...Read More

The price of hot-rolled coil exported from India plunged by $60 per tonne in the week ended Friday March 27, with the country going into compete lockdown on the Wednesday to try to contain the spread of the Covid-19 pandemic.Fastmarkets assessed the price of steel HRC, export, fob main port India, at $390-395 per tonne on Friday, down from last week's assessment at $450-455 per tonne."The domestic...Read More

Here is what's new today on INK Ultra Money. Canadian Insider Ultra Club members have access to both premium and free content all the time. Use coupon code SPRING20 for a $100 discount off a new 2020 membership (renewals will be at the regular price unless cancelled before the end of term).1. Insiders bet on pharma industry innovator - INK ResearchAs big pharma races to find a solution or COVID...Read More