David says this is especially bullish for silver. Here's why...by David Morgan of The Morgan ReportDavid Morgan's Take On The Markets | https://www.themorganreport.com/joinWatch this video on David Morgan's Take On The Markets, then please share with your friends and family on social media and use the caption David Morgan's Take On The MarketsMarket Analysis/Investing/Trading Methods At TheMorgan...Read More

Imperial Metals has completed the sale of a 70% stake in its wholly-owned Red Chris copper and gold mine in British Columbia, Canada to Newcrest Mining, creating a joint venture with Newcrest as the operator.The deal, initially announced in March, aims to use Melbourne, Australia-based Newcrest's block-caving expertise to mine the deep resource beneath the current open pits and exploit high grades...Read More

Europe's high carbon ferro-chrome market dropped by over 4% to its lowest level in more than ten years amid weak demand, while the UG2 chrome ore index fell on aggressive bidding. European alloy price at lowest since May 2009  Chrome ore prices weaken in China  Domestic and imported alloy prices hold in China  Alloy prices hold in East Asia  US price holds amid inactivity The E...Read More

Here are five Fastmarkets MB stories you might have missed on Monday August 19 that are worth another look.Xinjiang Xinfa Aluminium, a subsidiary of Xinfa Group, was heard to have closed 500,000 tonnes of aluminium production operational lines at its plant in Xinjiang province, China due to an incident at its electrical transformer on August 18, sources told Fastmarkets on August 19.Ferr...Read More

Xinjiang Xinfa Aluminium, a subsidiary of Xinfa Group, was heard to have closed 500,000 tonnes of aluminium production operational lines at its plant in Xinjiang province, China due to an incident at its electrical transformer on August 18, sources told Fastmarkets on Monday August 19.The total closure period is said to last at least three months while other sources have heard that the production...Read More

The three-month tin price on the London Metal Exchange was down by just under 2% during morning trading on Monday August 19, retesting its 2016 low amid a continued downtrend, while the largest delivery in LME nickel since May 2018 helped cool the metal's elevated price. Tin futures fell to an intra-morning low of $16,255 per tonne, with just 198 lots of metal exchanged as of 9:43am London time.&n...Read More

A wave of risk-on is flowing through broader markets this morning, Monday August 19, on expectations that central banks will provide stimulus going forward to cushion moves toward recession.The problem is that while this may provide some relief to markets, it is only being done because the global economy is slowing and that is bad for commodity demand.Asian equites are in positive territory, led b...Read More

Base metals prices on the Shanghai Futures Exchange were mostly down during morning trading on Monday August 19 while markets reacted to comments from US President Donald Trump over the weekend that the United States is "doing very well with China and talking" but suggested he was not ready to sign a deal.Aluminium was the lone metal in positive territory with a gain of 0.5%, while the rest were d...Read More

Brazilian apparent steel consumption fell in July on an annual basis, while weak economic performance pushed down domestic sales and imports alike, national steel association A??o Brasil said on Monday August 19.Consumption totaled 1.76 million tonnes in July, 7.1% lower than 1.89 million tonnes a year before, A??o Brasil data showed.Flat-rolled steel consumption was 1.03 million tonnes, down by 8...Read More

Steel plate prices in the United States held steady after most buyers did not immediately cooperate with price increases announced by producers.Plate prices have been unchanged for a month, despite not one but two $2-per-hundredweight ($40-per-short-ton) price increases attempted by domestic mills since late July. Service centers pointed to shorter-than-normal lead times - about three weeks -...Read More

High-carbon wire rod prices in the United States have fallen due to weaker market conditions, while cold-heading quality (CHQ) wire rod defied similar downward pressure to post gains alongside higher raw material costs. Fastmarkets assessed steel wire rod (high carbon), fob mill US, at $37 per hundredweight ($740 per short ton) on Friday August 16, down by 1.3% from $37.50 per cwt one month a...Read More

Egypt's Administrative Court has once again postponed its session to discuss the country's import safeguard duties, but did not indicate any reason for the delay, Egyptian sources told Fastmarkets on Sunday August 18.The session had originally been scheduled for August 4 but was postponed to August 17. It will now be held on August 24.In April, Egypt imposed a temporary additional import duty on r...Read More

Flat-rolled steel import prices were pressured further in South America during the week to August 19 on the continuing downtrend in Chinese flat steel prices and amid new discounted deals and offers in the region.There were reports of short selling in the market, while weak demand prompted more aggressive offers, according to sources. The Galvalume market was still the most dynamic in the flat-ste...Read More

Import prices for steel slab in Southeast Asia and East Asia tumbled over the past week after producers accepted lower prices amid a bearish sentiment in the downstream flat steel markets, sources said on August 19.For instance, a flurry of short-selling activity has applied downward pressure to hot-rolled coil prices in Vietnam, with India-origin HRC actively trading due to sluggish demand in its...Read More

China's hot-rolled coil prices gained some more strength on Monday August 19 on news of a revamp in interest rates as well as tighter steelmaking restrictions in the country's northern region.DomesticEastern China (Shanghai): 3,730-3,740 yuan ($530-531) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,730 yuan per tonne, up 10 yuan per tonnePrices in Shanghai rose as high as 3,740 yuan...Read More

RAPAPORT... Revenue at Michael Hill fell in the last fiscal year amid a difficultretail environment and the company's shift away from its previous discountingstrategy. Group revenue at the Australia-based jeweler fell 1% to AUD569.5 million ($386.2 million) for the year ending June 30. Same-storesales - at branches open more than a year - slipped 3.3% to AUD 524.7 million($355.8 million), the...Read More

RAPAPORT... Manufacturers coated a rough diamond with a green substanceto imitate a natural color, the Gemological Institute of America (GIA) saidafter the stone turned up for grading at its Carlsbad laboratory. The presence of chromium oxide powder on the surface ofthe 6.49-carat crystal was a rare case, as color coatings are more common withfaceted stones than with rough, and tend to be pink, or...Read More

RAPAPORT... The Diamond Producers Association (DPA) has released a campaign that aims to challenge misconceptions about diamond mining inan effort to capture millennial consumers. "The goal is to convey some of the key facts and truthsabout natural diamonds in a compelling, cinematic way that will engageviewers," a DPA spokesperson told Rapaport News last week. The video, called Essential Dia...Read More

The Association Fran?? ?aise de Gemmologie (the French Association of Gemmology) has announced the line-up of speakers for the 18th Paris Gemmological Rendez Vous, its prestigious annual gems symposium, which will take place on September 9, 2019, at: l'ASIEM, 6 rue Albert de Lapparent, Paris, France. Among the speakers are: Alan Bronstein, President of the Natural Color Diamond Association A...Read More

RAPAPORT... The Diamond Development Initiative (DDI) has promoted IanRowe to executive director. He will replace Doroth?(C)e Gizenga, who will lead theorganization's new Africa office.  Rowe, who has served as deputy executive director of the DDIsince September 2018, was previously a director with the United Nations. He hasworked with civil-society organizations in the areas of development,so...Read More