De-risking delivers value in GalenaSPONSOREDgalena miningAccounting firm EY's Canadian Mining Eye index increased 3% over the March quarter, when it gained 5%. The index tracks the mining sector performance of 100 TSX and TSXV-listed mid-tier and junior companies with market values between C$169-$2.5 billion.The latest quarter ended with spot gold at US$1,414/oz, benefitting from an 8% gain in Jun...Read More

Terramin leads gold-copper revival in South AustraliaSPONSOREDterramin australiaNew mineral sands miner polishes its ImageSPONSOREDimage resourcesAustralian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumThickened tailings deposition for closureSPONSOREDsrk consultingTaken from part of the Kamoa-Kakula project currently under development in the Democratic Repu...Read More

Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o logged slight increases in the week ended Friday August 16, with some sellers were reportedly receiving higher spot prices from certain consumers.In the Monterrey region, a major mill was heard to be raising prices for higher grades of scrap, including busheling, by around 300 pesos per tonne - the second...Read More

Caution prevails Base metal prices have been undermined by an overall risk-off environment on growing recession fears following the inversion of the US yield curve last week, despite a slight de-escalation of US-China trade tensions. Aluminium: Modest rebound, but hard to be bullish Given the current macro backdrop and aluminium’s own micro-dynamics, we remain cautiously bearish in the very s...Read More

Developments in China's steel industry and the country's persistent focus on implementation of environmental policies will underpin demand for high-quality seaborne iron ore, BHP said in an outlook document on Tuesday August 20.In the medium to long term, the supply side reform, the expected migration of steel capacity to coastal regions, the inexorable trend toward larger furnaces and more string...Read More

Fund managers maintaining bearish stance The challenging macro-economic backdrop constituting ongoing trade wars, weak economic data points and the uncertain demand outlook for the aluminium market easily justifies why its price action remains weak, which corresponds with the bearish net speculative funds positioning. LME fund managers have maintained their bearish stance for the third consecutive...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center,...Read More

Aluminium Buyers had a chance to push the LME three-month aluminium price higher on Monday August 19, but sellers were able to defend near the 100 DMA at $1,815 per tonne. Although the price has worked itself higher since the August low at $1,745 per tonne, the 100 DMA will not be the easiest overhead resistance to crack and we have seen such an attempt one too many times this year. More ofte...Read More

Market recap Copper has traded sideways recently, undermined by a poor risk sentiment despite the recent slight de-escalation of US-China trade tensions, evident in several events which took place last week including (1) the tariff delay on some consumer goods by the US, (2) an extension of “the temporary general license” granted to Huawei Technologies in the US, (3) a positive phone cal...Read More

Seaborne iron ore prices continued to dip on Tuesday August 20 amid limited buying activity.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $87.94 per tonne, down by $0.46 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $88.32 per tonne, down by $0.46 per tonne. Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $87.79 per tonne, d...Read More

Port Pirie smelter to be out for another 12 weeks Nyrstar announced that production at Port Pirie will be halted for 12 weeks. The smelter produced 160,000 tonnes of lead in 2018, on a pro-rata basis that suggests 36,000 tonnes could be lost, on top of the 30,000 tonnes lost in June and July when production was first suspended. With the loss of refined lead coming just before the so-called battery...Read More

Seaborne coking coal prices for premium hard coking coal materials firmed this week on continued buying activity from China. A cargo of top-quality Australian premium low-vol materials changed hands at $167.25 per tonne cfr China, with a mid-vol quality cargo changing hands at $160 per tonne cfr China, sources said on Tuesday August 20. The trades resulted in Fastmarkets' daily index for premium h...Read More

Stock rise compounds price correction pressure Nickel prices are consolidating around $16,000 per tonne after peaking at $16,690 per tonne earlier this month. The rumors that the export ban for nickel ore in Indonesia is likely to be brought forward and announced this year or in January 2020, has provided strong support to the market, but is this fully priced in now? But the tighter spreads that h...Read More

Tin prices pressured by a massive LME inflow The 3-month LME tin price tumbled to its lowest since June 2016 at $16,255 per tonne on Monday August 19, after a 1.6% sell-off last week. The resurgence of fresh shorting (reflected in the rise in open interest) was triggered by a massive net inflow of 1,580 tonnes (+33%) on August 15, the largest since December 2008. The metal was delivered into Port...Read More

Rebounds capped by macro factors Zinc prices are consolidating at the start of this week after stalling above $2,300 per tonne last week when economic data raised fresh concerns that the global economy was heading for recession, particularly in export-dominant economies such as China and Germany, while the US Treasury yield curve inverted once again. More demand woes Chinese authorities announced...Read More

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Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More

Concerns about weak economic data, geopolitical headwinds and the risk of a slow slide toward global recession are dominating market sentiment; short-term relief may come from more concerted central bank stimulus, but the real cure will only likely come from a new trade deal.Equities and bond markets will no doubt react positively to easier monetary policy, but the metals are unlikely to be hoodwi...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Home Depot gained $4.15 to $212.10 after reporting higher than consensus second quarter earnings. McCormick dropped $1.62 to $166.94 after JP Morgan downgraded the stock to Underweight from Neutral.Baidu jumped $8.78 to $113.00 after reporting higher than consensus quarterly sales and ear...Read More

China's domestic rebar prices stopped rising on Tuesday August 20 amid a weakening of steel futures and soft demand. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($524-528) per tonne, unchangedNorthern China (Beijing): 3,620-3,640 yuan per tonne, unchangedBuyers, having done some restocking on Monday, cut their procurement rates, which kept rebar prices from rising further, sources said. De...Read More