Switzerland-based miner-trader Glencore has settled a dispute over its Kamoto Copper Co (KCC) operation in the Democratic Republic of Congo (DRC). Now it's being singled out as a beacon of commitment to efforts by state-run mining company G?(C)camines to restructure its mining sector. Switzerland-based miner-trader Glencore has settled a dispute over its Kamoto Copper Co (KCC) operation in the Dem...Read More
Further threats of US tariffs against China has spooked the markets and three-month base metals prices on the London Metal Exchange were down across the board on the morning of Tuesday June 19, with the complex down by an average of 0.5%.This adds to the weakness seen in the second half of last week.Copper led the decline with a 1.2% fall to $6,891 per tonne, followed by a 0.7% drop in aluminium (...Read More
CALGARY - The Canadian Energy Research Institute says a pipeline capacity gap that is impeding the movement of Western Canada's crude to market will close by 2021 and there will be surplus capacity from about 2022 until 2030.In a forecast based on financial modelling, the Calgary-based think-tank calls for the Enbridge Line 3 and Trans Mountain expansion pipelines to open in about two years, follo...Read More
On June 18, 1940, Winston Churchill gave his "finest hour" speech. This is how it ended:What General Weygand called the Battle of France is over. I expect that the Battle of Britain is about to begin. Upon this battle depends the survival of Christian civilization. Upon it depends our own British life, and the long continuity of our institutions and our Empire. The whole fury and might of the enem...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable this week following the Eid al-Fitr break, sources told Metal Bulletin on Tuesday June 19.Buyers expect new price offers later this week or early next week. The UAE returned to work on Monday June 18, but Saudi Arabia will continue celebrating Eid until Thursday June 21. UAE traders expect offers from China to...Read More
Increased demand for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States has led to a rise in prices for the first time since early March. Metal Bulletin's weekly price assessment for CIS-origin HRC exports was $550-565 per tonne fob Black Sea on Monday June 18, up from $535-555 per tonne a week earlier. In the three months to June 11, the average HRC export price...Read More
Vancouver, British Columbia - June 19, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Orla Mining Ltd. (TSXV: OLA) ("Orla" or the "Company") is pleased to report that drilling in the Caballito copper-gold zone at its wholly owned Cerro Quema project in Panama continues to intersect near-surface mineralization with greater than 1% copper and associated gold values.Diamond drill hole CQDH18-163...Read More
Vancouver, British Columbia - June 19, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Cabral Gold Inc. (TSXV: CBR) ("Cabral" or the "Company") is pleased to announce initial sampling results from two new discoveries, Jerimum North and Jerimum East, along with further results of surface rock sampling at the Morro da Lua and Jerimum Cima targets, Cui?? Cui?? Project, Par?? State, Brazil.Highligh...Read More
Chinese ferrous futures all declined during morning trading on Tuesday June 19 amid threats of a fresh round of tariffs by the United States on Chinese imports.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,781 yuan ($587) per tonne, down 84 yuan per tonneOctober hot-rolled coil: 3,859 yuan per tonne, down 74 yuan per tonne Dalian Commodity Exchange September ir...Read More
The CIS export wire rod market picked up in the week ended Monday June 18, with customers accepting higher prices after a positive trend emerged in the billet segment and buying activity thawed following the end of the Islamic holy month of Ramadan.Metal Bulletin's weekly assessment of export prices for CIS-origin wire rod was $575-595 per tonne fob Black Sea on Monday, up from $560-580 per tonne...Read More
Prices for rebar and steel billet in the United Arab Emirates and Saudi Arabia were stable on low demand this week because of the Eid al-Fitr holiday that ended on Monday June 18 in the UAE and continues until Thursday in Saudi Arabia, sources told Metal Bulletin on Tuesday June 19.The Eid holiday, which started on June 15 and ended on June 17, marks the end of the Islamic holy month of Ramadan. H...Read More
China's domestic rebar prices moved down on sparse trading on Tuesday June 19 amid weakening futures. Domestic Eastern China (Shanghai): 4,120-4,160 yuan ($640-646) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,910-3,940 yuan per tonne, down 40 yuan per tonne Futures tumbled during the day following threats by US President Donald Trump to impose a 10% tariff on more Chinese imports...Read More
A Purely Technical MarketLong time readers may recall that we regard Bitcoin and other liquid big cap cryptocurrencies as secondary media of exchange from a monetary theory perspective for the time being. The wave of speculative demand that has propelled them to astonishing heights was triggered by market participants realizing that they have the potential to become money. The process of achieving...Read More
Iron ore prices fell in both the physical and paper markets on Tuesday June 19 amid threats of a new round of tariffs by the United States on Chinese imports.Metal Bulletin 62% Fe Iron Ore Index: $66.45 per tonne cfr Qingdao, down by $2.04 per tonneMetal Bulletin 58% Fe Premium Index: $53.62 per tonne cfr Qingdao, down by $0.57 per tonneMetal Bulletin 65% Fe Iron Ore Index: $86.80 per tonne cfr Qi...Read More
Australian iron ore producer Hancock Prospecting has made an all-cash bid to acquire Atlas Iron, the latter said on Monday June 18. "The Redstone offer represents a 41% premium to the implied value of [Mineral Resources Limited's] proposal as at close of trading on 15 June 2018," Atlas Iron said. Redstone Corp is a wholly owned subsidiary of Hancock Prospecting. In April this year, Mineral Resourc...Read More
Chinese ferrous futures all declined during morning trading on Tuesday June 19 amid threats of a fresh round of tariffs by the United States on Chinese imports.Futures closing prices - morning sessionShanghai Futures Exchange October rebar: 3,781 yuan ($587) per tonne, down 84 yuan per tonneOctober hot-rolled coil: 3,859 yuan per tonne, down 74 yuan per tonne Dalian Commodity Exchange September ir...Read More
China's domestic rebar prices moved down on sparse trading on Tuesday June 19 amid weakening futures. Domestic Eastern China (Shanghai): 4,120-4,160 yuan ($640-646) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,910-3,940 yuan per tonne, down 40 yuan per tonne Futures tumbled during the day following threats by US President Donald Trump to impose a 10% tariff on more Chinese imports...Read More
CloseGain/LossGold $1275.50-$2.90Silver$16.30-$0.14XAU81.67-0.86%HUI176.86-0.55%GDM616.26-0.70%JSE Gold1071.97+7.06USD95.04+0.25Euro115.84-0.37Yen91.07+0.50Oil$65.07-$0.7810-Year2.890%-0.030T-Bond145.125+0.71875Dow24700.21-1.15%Nasdaq7725.59-0.28%S&P2762.57-0.40% The Metals: Gold gained $5.60 to $1284.00 in Asia before it fell back to $1270.60 in London, but it then bounc...Read More
Graceland Updates By Stewart Thomson 1. The dollar and the US stock market may be starting their next major legs down today. Please click here now. Double-click to enlarge this ominous US dollar versus Japanese yen chart.2. Central banks around the world are ramping up their tightening. Back in 2013-2014 when I predicted quantitative tightening and relentless rate hikes were immin...Read More
Source: Streetwise Reports 06/19/2018 Technical analyst Jack Chan charts the latest moves and an 'agonizingly long consolidation' in the gold and silver markets. --> Our proprietary cycle indicator is up. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term. The gold sector is on a short-term...Read More