Seaborne coking coal prices were unchanged amid thin trading on Wednesday March 6, although some participants in southern China said they had received directives regarding limits on daily coking coal discharge volumes. A southern Chinese mill source said customs authorities in Fangchenggang in southern China's Guangxi province have told the end users under its jurisdiction that only "3,000 tonnes...Read More
Ferrous scrap offers to Asia have increased this week due to recent strength in Japanese and Turkish scrap prices.Offers for bulk-shipment Japanese H2 scrap have increased to $340-360 per tonne cfr Vietnam, up from $335-336 per tonne cfr Vietnam last week. Bids from buyers were at $330-340 per tonne cfr Vietnam, widening upward by $10 per tonne from a week earlier.This is on the back of the second...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday March 06 *Copper -$165.95 (-1,116.39 yuan) Aluminium -$289.60 (-1,948.23 yuan) Zinc -$157.57 (-1060.00 yuan) Nickel -$220.60 (-1,484.03 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using...Read More
Import prices for stainless steel in East Asia increased over the past week, as the nickel uptrend prompted steelmakers in the region to raise their offers again.Fastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed cold-rolled coil in East Asia was $2,060-2,150 per tonne cif on Wednesday March 6, up $30-50 per tonne from a week earlier. Fastmarkets MB's weekly im...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, Wednesday March 6. With the exception of aluminium that was little changed, the rest of the complex were down between 0.2% for nickel and tin and 0.9% for zinc.Copper was off by 0.4% at $6,456 per tonne, compared with $6,483 per tonne at Tuesday's close, while nickel has edged back from yesterda...Read More
Base metals prices on the Shanghai Futures Exchange were mostly little changed during morning trading on Wednesday March 6, with the complex in consolidation mode after weakness on Tuesday.Renewed concerns over an economic slowdown in China following disappointing macroeconomic data releases from the country and reports that the Chinese government had lowered its gross domestic product (GDP) growt...Read More
The following Fastmarkets minor metals prices changed on Wednesday March 6:Antimony MB free market regulus, $/tonne: $7,500-7,800 per tonne from $7,700-7,900Antimony MMTA standard grade II, $/tonne: $7,500-7,800 per tonne from $7,700-7,900Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 47,000-48,000 yuan per tonne from 47,500-48,500 yuanBismuth...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Key data from the Wednesday March 6 pricing session in Europe. Key drivers Recent market sentiment continues to be focused on supply worries, pushing up ferro-titanium offer prices in the past week. The rally has been fueled by apparent market short-covering against a potential loss of 350 tonnes per month to the spot market from one major supplier.World production capacity of 70%-grade ferro-tit...Read More
China's largest steel mill, Hebei Steel, has cut its monthly purchase price for silico-manganese for the third consecutive time amid lower spot prices. The mill has offered to buy silico-manganese at 7,780 yuan ($1,160) per tonne for March delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China. The latest tender is about 120 yuan l...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday March 6:Aluminium scrapGroup 1 pure 99% & litho: ?1,300-1,350 per tonne from ?1,340-1,390Commercial pure cuttings: ?980-1,020 per tonne from ?1,010-1,050Clean HE9 extrusions: ?1,300-1,350 per tonne from ?1,340-1,380Loose old...Read More
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The U.S. stock market and bullion swooned yesterday, but the GDX gold stocks ETF was up!Gold stocks continue to perform impressively. Rallies look impulsive and corrections feel solid.Please click here now. Double-click to enlarge this daily gold chart. Gold has pulled back by about 30% after staging an enormous $170/ounce rally.In the scenario shown on this chart, gold could trade down to the 5...Read More
With an interesting mix of sin stocks, energy, and mining, there are a few potentially overlooked TSX index tickers out there signalling high growth in expected earnings. Let’s take a look through the data for four such stocks and see whether they would satisfy a capital gains investor today.Surge Energy (TSX:SGY)The oil and gas stock you didn’t know you needed, Surge Energy can compet...Read More
The recovery in the TSX Index to start 2019 has pushed some stocks back toward all-time highs, while others that have been out of favour for some time are picking up a nice tailwind and still appear oversold.Let’s take a look at Barrick Gold (TSX:ABX)(NYSE:GOLD) to see if it might be an attractive pick for your portfolio today.Barrick Gold was a $50 stock when gold hit US$1,900 per ounce in...Read More
The U.S. stock market and bullion swooned yesterday, but the GDX gold stocks ETF was up!Gold stocks continue to perform impressively. Rallies look impulsive and corrections feel solid.Please click here now. Double-click to enlarge this daily gold chart. Gold has pulled back by about 30% after staging an enormous $170/ounce rally.In the scenario shown on this chart, gold could trade down to the 5...Read More
Someone last week suggested that Trump sees the stock market as the barometer measuring the success of his Presidency. I think his behavior, tweets, press comments, etc with respect to the stock market validates that assertion.The Dow trended lower all week last after Monday's close. Whenever the stock market faded from an early run-up or began a rapid sell-off, a Trump tweet or press statement wo...Read More
As ever, matching materials that have fallen out of favour but still have upcoming supply deficits, could see investors do well.Read More
Drilling operations at McEwen Mining's Gold Bar Project in central Nevada. Source: McEwen Mining Inc.McEwen Mining Inc. [MUX-TSX, NYSE] said Thursday March 7 that it has elected to suspend the dividend distribution of one-half cent per share, an amount that would have been paid on March 15, 2019 to shareholders of record on March 8, 2019."We have been experiencing operating issues at our Black Fox...Read More