China's ferrous futures, particularly the steel and coke contracts, tumbled during morning trading on Thursday November 15 on profit-taking after across-the-board gains a day earlier.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,874 ($557) yuan per tonne, down 53 yuan per tonneJanuary hot-rolled coil: 3,577 yuan per tonne, down 30 yuan per tonneDalian Commodit...Read More
China's presence and influence in the copper futures market is growing, reflected in the significant increase in the number of copper transactions conducted by Chinese participants across major exchanges over the past two years, representatives of major bourses told delegates at Asia Copper Week in Shanghai.Around 25% of copper transactions on the London Metal Exchange are either done by Chinese p...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday November 15 * Copper -$192.98 (-1,341.20 yuan) Aluminium -$432.34 (-3,004.69 yuan) Zinc -$94.99 (-660.14 yuan) Nickel $609.10 (4,233.09 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Base metals prices on the London Metal Exchange rallied against a high dollar index during morning trading on Thursday November 15, recovering losses made at Wednesday's close and topped by strong gains in zinc and nickel futures.Climbing by 3%, the three-month zinc price reached an intraday high of $2,595 per tonne over the morning after more than 11,000 tonnes was freshly canceled across LME-lis...Read More
The cobalt metal price in China edged lower mid-week, pressured by the overall bearish sentiment toward the cobalt market's outlook following an industry event last week.Fastmarkets assessed the Chinese cobalt metal price at 410,000-430,000 yuan per tonne ($23.10-24.22) per lb, China VAT-free, on Wednesday November 14, down 4.5% from 430,000-450,000 yuan per tonne previously. "Following the event...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.7% on the morning of Thursday November 15. Zinc and nickel prices were up by the most with gains of 1.2% and 1.1% respectively, while copper was up by 0.8% at $6,149 per tonne. The others were up by between 0.2% for aluminium and 0.8% for lead. Volume has been below average with 4,583 lots trade...Read More
The European Commission (EC) has decided that flat stainless steel products originating from South Africa should be excluded from the scope of its provisional safeguard measures on steel product imports, it said on Tuesday November 13.The decision will be enacted retroactively and the quotas for stainless hot-rolled (HR) and cold-rolled (CR) sheets and strips should be adjusted.The products concer...Read More
Import prices for stainless steel in East Asia weakened again during the past week, with exporters continuing to lower their offers amid intense competition in the region.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,950-2,070 per tonne cif East Asia for the week ended Wednesday November 14, down $30-80 per tonne from a week earlier.Fas...Read More
China's domestic stainless steel prices moved down over the past week due to decreasing demand. Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,100-15,600 yuan ($2,171-2,243) per tonne including VAT for the week ended Wednesday November 14, down 100-300 yuan per tonne from a week earlier.Demand from...Read More
Key data from the Wednesday November 14 pricing session in Asia. Key drivers: The strong performance of the downstream vehicle sector in Japan in the fourth quarter was not enough to stoke greater buying interest from Japanese consumers due to the...Read More
Secondary aluminium producers in the UK are considering production cuts following a nine-week slide in ingot prices, which is cutting into profit margins.The low ingot price combined with scrap prices not falling at a fast enough rate could prompt production cuts in the coming months, UK producers said.LM24 pressure diecasting ingot on a delivered consumer works basis fell to ?1,390-1,440 ($1,776...Read More
click here to buy tickets to see me Dec 1st 2018 https://www.eventbrite.com/e/tommy-so...click here to donate for crispy cash https://streamlabs.com/tommysotomayor...click here to see video of me confronting white dudes over my trump hat https://www.youtube.com/watch?v=QqLny...to see the entire show please click here https://www.sotomayorent.com/raecarru...click here to see the full show https://w...Read More
click here to buy tickets to see me Dec 1st 2018 https://www.eventbrite.com/e/tommy-so...click here to donate for crispy cash https://streamlabs.com/tommysotomayor...click here to see video of me confronting white dudes over my trump hat https://www.youtube.com/watch?v=QqLny...to see the entire show please click here https://www.sotomayorent.com/raecarru...click here to see the full show https://w...Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More
Athabasca oil sands on the banks of the river, around 1900An alarming discount on Canadian crude has sparked calls for production cuts in the Alberta oil patch.The calls from Cenovus Energy Inc. [CVE-TSX, NYSE] and others have been sparked by the difference between the price of Western Canadian Select bitumen-blend crude and New York traded West Texas Intermediate oil.The differential between West...Read More
Sokoman Iron's Moosehead gold project in central Newfoundland. Source: Sokoman Iron Corp.Sokoman Iron Corp. [SIC-TSXV] shares rallied sharply Friday November 16 as the company released more drill results from its Moosehead gold project in central Newfoundland.The company said it has received assay results for five of seven holes completed to date in the property's Eastern Trend. They are part of a...Read More
Imagine going back to the late 1990s and being able to be a ground-floor investor in electric vehicles.Well, you don't have to imagine. Hydrogen fuel cell technology is at the same point in development as electric vehicles were in the late 1990s. And for us as investors, a hydrogen fuel cell boom could be a retirement-level event.Fact is, hydrogen fuel cells have the potential to be superior to a...Read More
CloseGain/LossOn WeekGold $1221.90+$8.60+0.99%Silver$14.41+$0.12+1.69%XAU66.08+1.67%+2.99%HUI148.56+1.47%+3.59%GDM539.56+1.49%+1.88%JSE Gold1121.57+12.92+2.14%USD96.44-0.61-0.47%Euro114.17+0.83+0.69%Yen88.65+0.41+0.70%Oil$56.46UNCH-6.20%10-Year3.071%-0.042-3.73%Bond139.59375+0.8125+1.25%Dow25413.22+0.49%-2.22%Nasdaq7247.87-0.15%-2.15%S&P2736.27+0.22%-1.61% The Metals: Gol...Read More
By Ira EpsteinGold is acting like it wants to move higher into year end.https://www.iraepstein.com/ Read More