Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week....Read More
Record highs in the S&P 500 and NASDAQ Composite indices, alongside a 2019 dollar-index high of 97.73, (at the close on April 23) boosted economic optimism with some base metals trading up in the morning session on April 24, while others remain marginally suppressed.United States' stocks recovered to a record degree on Tuesday April 23 in response to dovish rhetoric from the US Federal Reserve and...Read More
Trading across most of the base metals is leading to price weakness - this despite record-setting levels seen in the S&P 500 and Nasdaq Composite on Tuesday. The exception is aluminium, where prices have been edging higher in recent days.Asian equities give up early gains; in the US, earnings and dovish Federal Reserve sent shares to, or near to, record highsTop US officials travel to Beijing to c...Read More
Copper premiums in Asia softened this week amid a slump in spot inquiries and a continued contango in the metal's nearby cash/three-month spread on the London Metal Exchange, while continued availability of material in Europe kept premiums there flat. Lack of buying appetite softens Chinese copper premiums European participants question Italian copper consumption US market stable, participants co...Read More
Zinc led the rest of the base metals traded on the Shanghai Futures Exchange downward during morning trading on Wednesday April 24, with stock inflows and a firm dollar weighing on the galvanizing metal's prices.A strong performance by the US dollar on Tuesday has dampened investors' appetite for commodity investment, in turn pressuring base metals prices on the SHFE this morning.The dollar index,...Read More
Carmaker BMW has locked in supply of cobalt metal produced at Murrin Murrin and CTT for the production of electric vehicles, market sources confirmed to Fastmarkets. Material will be supplied to BMW from 2020, sources added, though details on tonnage or price terms were not immediately available. About 1,800 tonnes per year of cobalt are produced at the CTT mine in Morocco in the form of broken ca...Read More
Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More
The following Fastmarkets minor metals prices changed on Wednesday April 24:Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 43,500-44,500 yuan per tonne from 44,000-45,000 yuanCadmium MB free market min 99.95%, cents/lb: 133-140 cents per lb...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday April 24:Aluminium scrapCommercial cast: ?780-810 per tonne from ?780-820Commercial turnings: ?560-600 per tonne from ?565-605Group...Read More
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The downside potential in precious metals discussed last week is playing out as Gold and gold stocks have broken down technically.The global economy appears to be firming and that is evidenced by a sustained rebound in global equity markets.As a result, the potential for a rate cut which pushed precious metals higher is now unwinding. That has caused the breakdown in precious metals and there is m...Read More
The TSX has been on a tear this year after a disappointing 2018. And when the markets are up, a lot of stocks are as well. However, investors can strategically choose to buy high-beta stocks during bullish times to cash in on a lot of excitement in the markets.Beta is a measure of how much a stock swings compared to the market. A beta of one would indicate that it is equal, whereas a beta of les...Read More
As Guyana Goldfields (TSX:GUY) hits a 52-week low, we take a look at its stats, alongside those of some its peers. Do solid gold buying opportunities abound, or are knives falling in the precious metals section of the TSX index? Let's find out.Down 7.07% in the last five days, it's too early to call Guyana Goldfields a falling knife, since its share price is unchanged at present. However, looking...Read More
Teck Resources (TSX:TECK.B)(NYSE:TECK) has been a household mining company for decades. The company is largely known for its focus on coal, copper and zinc. It has flagship mines worldwide and is one of the world’s largest producers of copper and zinc. As such, its performance has been largely dependent on a growing global economy, China in particular.However, the company has also diversifie...Read More
Durable goods stocks are an interesting play, as they represent an investment in the mid- to long-term on behalf of everyday consumers. From iconic coats to long-lasting children’s toys to water sports, the following list of consumer durable stocks has something for every retail and consumer market bull looking to cream some capital gains on the TSX Index.BRP (TSX:DOO)(NASDAQ:DOOO)Starting o...Read More
The downside potential in precious metals discussed last week is playing out as Gold and gold stocks have broken down technically.The global economy appears to be firming and that is evidenced by a sustained rebound in global equity markets.As a result, the potential for a rate cut which pushed precious metals higher is now unwinding. That has caused the breakdown in precious metals and there is m...Read More
The dividend is payable on June 20 to shareholders of record at the close of business on June 6.Read More
Underground at a Discovery Metals project. Source: Discovery Metals Corp.Discovery Metals Corp. [DSV-TSXV; AYYBF-OTC] on Thursday April 25 announced details of an amended property option agreement related to its Puerto Rico polymetallic project, which is located in Coahuila State, Mexico.The company also said it has concurrently signed a 30-year exploration and mining agreement with the Boquillas...Read More
The 1,758-carat diamond recovered from Lucara Diamond's Karowe diamond mine in Botswana. Source: Lucara Diamond Corp.Lucara Diamond Corp. [LUC-TSX; LUCRF-OTC] said Thursday April 25 that it has recovered 1,758-carat diamond from its 100%-owned Karowe diamond mine in BotswanaOne of the largest diamonds in recorded history, the largest diamond recovered in Botswana, and the largest diamond to be min...Read More
Kakula's new, southern box cut. A third decline tunnel will be driven from the bottom of the box cut to provide access and ventilation to the southern side of the underground, high-grade Kakula Deposit. Source: Ivanhoe Mines Ltd.Ivanhoe Mines Ltd. [IVN-TSX; IVPAF-OTC] Chairman Robert Friedland said Thursday April 25 that CITIC Metal Co. Ltd. has agreed to invest an additional $612 million in Ivanh...Read More