The inactivity in the seaborne coking coal market persisted on Thursday November 22 amid talk that prices are softening following the exit of Chinese buyers due to import restrictions in the country."There is still demand but the supply [tightness has eased] since China can no longer buy cargoes in the near term. While the market is not crashing, current prices should correct downward," an Indian...Read More
China's ferrous futures were largely steady during morning trading on Thursday November 22, with both steel and steelmaking raw materials contracts ending the session little changed from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,718 yuan ($536) per tonne, down 2 yuan per tonneJanuary hot-rolled coil: 3,612 yuan per tonne, unchangedDali...Read More
China's hot-rolled coil market regained some stability on Thursday November 22 with buyers continuing to hold back from restocking.DomesticEastern China (Shanghai): 3,770-3,780 yuan ($543-545) per tonne, narrowing upward 10 yuan per tonneNorthern China (Tianjin): 3,680-3,700 yuan per tonne, down 10 yuan per tonneTrading activity remained sparse during the day. A Zhejiang-based trader told Fastmark...Read More
China's domestic rebar prices experienced a slight rebound on Thursday November 22 following gains in the billet market.Domestic Eastern China (Shanghai): 3,990-4,020 yuan ($575-579) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,820-3,850 yuan per tonne, up 10-20 yuan per tonneThe price of billet regained some of the losses incurred in the past few days, which provided support to t...Read More
The latest metal markets news and price moves to start the North American day on Thursday November 22. The majority of base metals prices on the London Metal Exchange were rangebound during morning trading while overall volumes remain light.Holding gains made at Wednesday's close, the three-month lead price remained above $2,000 per tonne amid continued outflows in LME stock - which remain at nine...Read More
The price of cobalt sulfate in China continued to fall this week amid slow trades and aggressive buyer bidding. At the same time, a number of producers told Fastmarkets that they have stopped offering material into the market because prices are below levels at which they can make a profit. Fastmarkets assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 74,000-78,00...Read More
Brazilian steelmaker Gerdau plans to invest $210 million in its special steels division to increase production and benefit from future demand from the automotive industry and the oil and gas sector, the company said on Thursday November 22.Gerdau's Pindamonhangaba plant, in Brazil's S??o Paulo state, will have $140 million of capital expenditure, while $70 million will go to its mill in Monroe, in...Read More
China's domestic stainless steel prices kept decreasing over the past week with sellers putting in more effort to destock.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,800-15,500 yuan ($2,133-2,234) per tonne including VAT for the week ended Wednesday November 21, down 100-300 yuan per tonne from a week earlier.Market inventory le...Read More
Weak demand for stainless steel in East Asia continued to weigh on offers, and consequently import prices in the region over the past week.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,990-2,060 per tonne cif East Asia for the week ended Wednesday November 21, narrowing from $1,950-2,070 per tonne cif a week earlier.Fastmarkets MB's imp...Read More
Casual basement Instagram here get your jackets for half the price in time for Christmashttps://instagram.com/casualbasement?...Read More
The major silver miners' stocks have been largely abandoned this year, spiraling to brutal multi-year lows. Such miserable technicals have exacerbated the extreme bearishness plaguing this tiny contrarian sector. While profitable silver mining is challenging at today's exceedingly-low silver prices, these miners are chugging along. Their recently-reported Q3'18 results show their earnings ar...Read More
Gold keeps whipsawing wildly as a mix of bullish and bearish indicators emerge almost simultaneously, driving extreme reactions from investors. After plummeting below the all-important US$1,200 per ounce mark, the yellow metal rebounded strongly in mid-October 2018 to now be trading at over US$1,200 an ounce.There are indications that now is the time for investors to weather-proof their portfolios...Read More
This week, an in-depth article featuring prominent mining executive and Chairman of the Augusta Group of Companies, Richard Warke. Featuring commentary from Barrick Gold Corp.'s Kevin Thomson and Ross Beaty, the article details Richard Warke's rise in the resource industry, from his sale of Arizona Mining Inc. this summer to his breakout sale of Ventana Gold in 2011 to Eike Batista.Read the full...Read More
The major silver miners' stocks have been largely abandoned this year, spiraling to brutal multi-year lows. Such miserable technicals have exacerbated the extreme bearishness plaguing this tiny contrarian sector. While profitable silver mining is challenging at today's exceedingly-low silver prices, these miners are chugging along. Their recently-reported Q3'18 results show their earnings ar...Read More
This week, an in-depth article featuring prominent mining executive and Chairman of the Augusta Group of Companies, Richard Warke. Featuring commentary from Barrick Gold Corp.'s Kevin Thomson and Ross Beaty, the article details Richard Warke's rise in the resource industry, from his sale of Arizona Mining Inc. this summer to his breakout sale of Ventana Gold in 2011 to Eike Batista.Read the full...Read More
"I don't know how this whole thing is going unwind - I just think it's not going to be pleasant for any of us, even if you own gold and silver. I think owning gold and silver gives you a chance to survive financially and see what it's going to look like on the other side of what is coming..."My good friend and colleague, Chris Marcus, invited me on to his Stockpulse podcast to discuss the finan...Read More
Before we list our opinions on the gold market, we want to emphasize that many "cycles" are forecasting a huge move up in gold bullion should commence soon. Also do not forget that there no longer are "market makers" who in the past would bring support to the market....so gold stocks now drop to prices even lower than they did in the past. However, that does offer private investors opportuniti...Read More
Bob Moriarty ArchivesNov 23, 2018Over the past eighteen years and many hundreds of site visits I have met a lot of geos. It might by 800, might be 1200 but I have met a bunch of them. Few of my readers realize it but for a dozen years I delivered small aircraft built in the US to destinations all over the world. I did about 240 over ocean trips averaging 15-18 hours each flight.Pilots are interest...Read More
An iMetal geologist examines a mineralized rock sample at the Gowganda West property. Source: iMetal Resources Inc.iMetal Resources Inc. [IMR-TSXV] said Friday November 23 that ongoing exploration at its Gowganda West property in northeastern Ontario has defined highly favourable targets for upcoming drilling at Zone 3A.iMetal shares advanced on the news, rising 9.52% or $0.01 to 11.5 cents on v...Read More
Property map of the BTU Metals Dixie Halo Project, Red Lake area, Ontario. Source: BTU Metals Corp.BTU Metals Corp. [BTU-TSXV] said Friday November 23 that it picked up more ground in the emerging Dixie discovery area of Red Lake, northern Ontario via the acquisition of Burgundy Exploration Corp.As a result, BTU said it has been able to acquire an additional 4,163 hectares of prospective and geogr...Read More