* Quotas set at 2015-2017 average imports, plus 5 pct * Tariffs of 25 pct apply if quotas are filled * Steel group welcomes move, carmakers don't (Adds EU steel body, Swiss inclusion)By Philip BlenkinsopBRUSSELS, Feb 1 (Reuters) - The European Union will imposelimits on steel coming into the bloc from Saturday in responseto U.S. President Donald Trump's metals tariffs, a filing in theEuropean Unio...Read More
Teck Resources, (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, announced late on Thursday it expected fourth-quarter profits to be significantly below estimates, due to the low price of Canadian oil at the end of 2018, issues at its operations in Trail, B.C., and a decline in commodity prices.The Vancouver-based mining giant said all those factors combined, plus inventory v...Read More
Teck Resources, (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, announced late on Thursday it expected fourth-quarter profits to be significantly below estimates, due to the low price of Canadian oil at the end of 2018, issues at its operations in Trail, B.C., and a decline in commodity prices.The Vancouver-based mining giant said all those factors combined, plus inventory v...Read More
Teck Resources, (TSX:TECK.A | TECK.B)(NYSE:TCK), Canada's largest diversified miner, announced late on Thursday it expected fourth-quarter profits to be significantly below estimates, due to the low price of Canadian oil at the end of 2018, issues at its operations in Trail, B.C., and a decline in commodity prices.The Vancouver-based mining giant said all those factors combined, plus inventory v...Read More
Gold demand came in at 4,345.1 tons in 2018.Central banks accumulated 651.5 tons of gold last year.ETF gold holdings grew by 68.9 tons.By SchiffGold Global gold demand grew by 4% in 2018, driven by a multi-decade high in central bank buying, according to the World Gold Council's Gold Demand Trends 2018 Report. Gold demand came in at 4,345.1 tons in 2018. That was up from 4,159.9 tons the previous...Read More
In my Thursday Howe Street interview with Jim Goddard, I recap our latest US and Canadian market comments. For regular readers of those reports, the interview covered familiar territory. We also dug into the question of the marijuana legalization roll-out which covered a bit of new ground (click here to listen to the interview).The interview starts off with a challenge for listeners as we jump ri...Read More
"Should Lena Gold-Mining Public Joint Stock Company Lenzoloto's (MCX:LNZL) Weak Investment Returns Worry You? https://t.co/FkU71SE0Rq"Read full newsRead More
"$DEO - Diageo's (DEO) CEO Ivan Menezes on 2019 Interim Results, Half Year Ended 31 December 2018 - Earnings Call Transcript https://t.co/Ck4RSt235j"Read full newsRead More
Eldorado Gold released on January 31, 2019, a substantial production update that changed its fair valuation profoundly and outlook of the company from 2019 to 2020.One crucial decision is undoubtedly the resolution to shelve the K????lada?? mill and resume mining instead.EGO experienced Thursday a decisive breakout of the descending wedge pattern. EGO should improve substantially in 2019.Image: D...Read More
Base metals prices on the London Metal Exchange were collectively higher day on day at the close of trading on Thursday January 31, with a softer US dollar and improved trade sentiment supporting commodity investment.Copper's three-month price continued on an upward trend throughout afternoon trading, with total volumes topping the complex and more than 18,000 lots changing hands by the close.Pric...Read More
Comex copper prices moved higher on Thursday morning in the United States, with an improving macroeconomic backdrop lifting the entire base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose 2.25 cents to $2.79 per lb. "The improved macroeconomic backdrop has provided risk sentiment with a good bullish vibe, allowing the red met...Read More
Here Are 4 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed Thursday's session in the red thanks to declines in Visa Inc. (V) , DowDuPont Inc. (DWDP) and Microsoft Corp. (MSFT) .General Electric Co. (GE) posted weaker-than-expected fourth-quarter earnings but saw sales rise solidly, lifting the stock 11.43% on Thursday.Facebook Inc. (FB) surged 1...Read More
Zinc gained more than 1% in morning trading on the London Metal Exchange on Thursday January 31, breaching technical support at its 100 DMA for the first time since July 2018 amid continued stock drawdowns and cancelations. Volumes were decent at more than 5,000 lots as of 10:00am London time, just behind copper's 5,800 lots. Easing tightness in zinc's cash/three-month spread, which has narrowed t...Read More
In Zhuzhou - former home of China's top zinc smelter - the skies aren't exactly blue, but they're starting to clear up. Today the city in Hunan province registered an air quality index of close to 250, regarded as "very unhealthy". Still, the index, which measures particulate matter PM2.5, was close to 280 at the same time last year. It was home to the Zhuzhou Smelter Group, the world's fifth larg...Read More
Bushveld Minerals Ltd increased annual revenues from vanadium mining by 142.7% in 2018 to $192.2 million on higher vanadium prices, the integrated South African producer announced on Wednesday January 30.However, the notably lower 32.9% increase between the third and fourth quarters, for fourth quarter revenues of $60.2 million, reflected vanadium prices coming off of a historic peak.For example,...Read More
US titanium producer Global Titanium, which is based in Detroit, Michigan, has suffered no impact to production after a fire at its plant earlier this month.The company, which has the capacity to make 10,000 tonnes per year of 70% grade (Ti) alloy and is one of the biggest ferro-titanium producers in the world, said the impact of the fire had only slowed production of fines. The fire on January 3...Read More
Turkish deep-sea scrap import prices moved down on Thursday January 31 following more bookings done at slightly lower levels, sources told Fastmarkets.Four more bookings add to the 16 other bookings that have come to light this week. A steel mill in the Samsun region booked a US cargo comprising 28,000 tonnes of HMS 1&2 (90:10) and 6,000 tonnes of shredded at an average price of $316 per tonne cfr...Read More
European molybdenum prices rose this trading this week, with both molybdenum oxide and ferro-molybdenum prices paring almost all losses so far this year, with higher oxide offer prices behind the rise in the alloy market.Still, there were few deals reported and industry sources said there is a disparity between oxide fundamentals and those in ferro-molybdenum, casting doubt on the sustainability o...Read More
US titanium producer Global Titanium, which is based in Detroit, Michigan, has suffered no impact to production after a fire at its plant earlier this month.The company, which has the capacity to make 10,000 tonnes per year of 70% grade (Ti) alloy and is one of the biggest ferro-titanium producers in the world, said the impact of the fire had only slowed production of fines. The fire on January 3...Read More
Comex copper prices moved higher on Thursday morning in the United States, with an improving macroeconomic backdrop lifting the entire base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose 2.25 cents to $2.79 per lb. "The improved macroeconomic backdrop has provided risk sentiment with a good bullish vibe, allowing the red met...Read More