(Corrects paragraph one to say Netflix (NASDAQ:NFLX) to join the S&P 100, not the S&p 500)* MSCI world tech stock index climbs 0.7 pct to new record high* Italian bonds see modest selling ahead of govt confidence vote* Peso slides vs the dollar as tariff spat with U.S. escalates* Copper rises as wage talks rumble on at world's largest mine* Crude oil prices crawl up after 3 sessions of los...Read More
Investing.com - Gold prices traded slightly lower in mid-morning trade on Tuesday as positive economic data sent the dollar to its best level of the day against major rivals.At 10:30AM ET (14:30GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 70 cents, or 0.05%, to $1,296.60 a troy ounce.Meanwhile, the U.S. dollar index, which measures the gr...Read More
* MSCI world tech stock index climbs 0.7 pct to new record high* Italian bonds see modest selling ahead of govt confidence vote* Peso slides vs the dollar as tariff spat with U.S. escalates* Copper rises as wage talks rumble on at world's largest mine* Crude oil prices crawl up after 3 sessions of lossesBy Marc JonesLONDON, June 5 (Reuters) - World tech stocks hit a record high on Tuesday, spurred...Read More
The latest news and price moves to start the Asian day on Wednesday June 6.Zinc prices on the London Metal Exchange ended 2.4% higher at the close of trading on Tuesday June 5, reaching the highest level since April 24, while three-month nickel and copper also finished strongly. Read more in our live futures report.Here are how prices looked at the close of trading:The US aluminium billet upcharge...Read More
Goldcorp Inc. (TSX:G)(NYSE:GG) is down 0.66% today to $18.07, which may have some folks eyeing the stock in light of its recent announcements. Meanwhile, Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM) is up 0.28% to $7.20, as silver stocks continue to oscillate. But like most silver stocks on the TSX, it's still fairly cheap.So, are these stocks a buy? Let's take a closer look.Can junior miners of...Read More
Canadian steel stocks took a beating after the White House announced that it would impose tariffs on steel imports of 25% on Canada and other key allies. This represented another stage in what has been a roller-coaster year for the industry. The Trump administration had originally exempted Canada from steel tariffs, but elected not to extend the exemption after NAFTA talks failed to net a deal in...Read More
Copper prices on the London Metal Exchange continued to rally at the close of trading on Wednesday June 6, ending trading 1.6% higher and surpassing $7,200 per tonne for the first time since January 2. "There is a bit of short covering in copper at the moment. Whether this is just built on fears of Escondida [labor negotiations] is difficult to see," Geordie Wilkes, head of research at Sucden Fina...Read More
French utility EDF has signed a memorandum of understanding (MoU) with Brazilian companies Centrais El?(C)tricas Brasileiras (Eletrobras) and Eletrobras Termonuclear SA (Eletronuclear) to promote cooperation in nuclear energy. This could include participation in the completion of Angra 3 and possible follow-up projects.Angra 3 under construction, with 1 and 2 operating in the background (Image: El...Read More
Comex copper prices climbed 1.6% during trading on Wednesday June 6, with prices pushed higher by fears of supply outages resulting from possible industrial action at the Escondida mine in Chile.Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 5 cents or $3.25 per lb.The red metal hit a high of $3.26 per lb earlier today, which was the highest since earlier...Read More
Energy Resources of Australia (ERA) has released its closure plan for the Ranger uranium mine in Australia's Northern Territory. Under the existing authority from traditional land owners, mining and processing activities at Ranger must cease in January 2021, with final rehabilitation to be completed by January 2026.The Ranger mining site, pictured in 2015 (Image: ERA)The Ranger Mine Closure Plan h...Read More
'Buy high, sell low, repeat until broke' is an emotional investment strategy best left to lemmings. The MoneyLetter's behavioural finance columnist Ken Norquay says feeling emotions is okay: reacting to those emotions is not okay.Most of the time, our investment minds do what they have always done and think what they have always been thinking. But every once in a while some unexpected financial jo...Read More
Spot premiums for zinc ingots dropped to seven-year lows in Europe but traded flat elsewhere despite a widening price spread backwardation and a consistent import arbitrage into China. Meanwhile, 99.99% lead ingot premiums rose in Europe reflecting a lack of spot supply in the region. Rotterdam and Antwerp premiums dropped to lowest since February 2011 LME zinc cash/three-month price b...Read More
Bob Moriarty ArchivesJun 6, 2018If you want to be a hero with the PermaBulls, all you have to do is predict an imminent and high price for gold, no matter how absurd. But PermaBulls either forgot or never knew that prices for everything go both up and down. And if you want to profit the most, you want to be buying on the way down because, who knows, maybe prices will go up one day.We seem to be on...Read More
Key data from the Wednesday June 6 pricing session in Europe. Key drivers - Alloy producers reckon the market will consolidate above $5 per kg duty delivered paid in June due to increased consumer demand.- But traders reckon there is buying availability below that level. A 60-tonnes tender from Swedish steelmaker SSAB with a deadline on Thursday should provide spot price guidance...Read More
Lead smelters in China's Henan province, home to one third of the country's lead output, plan to cut their production by over 30% during a month-long environment inspection in June, sources sold Metal Bulletin. Jiyuan Wanyang smelter, whose product is listed on the London Metal Exchange under brand "WANYANG", expects its three smelters in Jiyuan city to receive a government order on Wednesday June...Read More
The seaborne thermal coal market's recent strength is expected to continue, with significant supply constraints adding to a positive demand outlook."Rumours of coal's death are premature", according to Jefferies analysts06 JUNE 201806/06/2018commentsshare Jefferies analysts lead by Christopher LaFemina said "rumours of coal's death are premature" and they increased their seaborne price f...Read More
Turkish steel producers have continued to book deep-sea scrap for July shipments following the decision by the United States to impose a 25% tariff on steel imports from the EU, Canada and Mexico, sources said on Wednesday June 6.The US move, following its Section 232 trade investigation, was expected to raise the demand for Turkish rebar now that the tariff also applied to regions that had been g...Read More
Comex copper prices climbed 1.6% during trading on Wednesday June 6, with prices pushed higher by fears of supply outages resulting from possible industrial action at the Escondida mine in Chile.Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 5 cents or $3.25 per lb.The red metal hit a high of $3.26 per lb earlier today, which was the highest since earlier...Read More
US Cobalt's Iron Creek Project in the Idaho Cobalt Belt. Source: First Cobalt Corp.First Cobalt Corp. [FCC-TSXV; OTCQB-FTSSF; FCC-ASX] recently enhanced its position as a pure-play North American cobalt company by acquiring all of the issued and outstanding shares of US Cobalt Inc. [USCO-TSXV, USCFF-OTCQB].The deal puts First Cobalt in a position to benefit from protectionist trade policies rather...Read More
The Lac Gueret Graphite Project in northern Quebec. Source: Mason Graphite Inc.Mason Graphite Inc. [LLG-TSXV; MGPHF-OTCQX] said Wednesday June 6 that it has received the main environmental permit for its Lac Gueret Project in northern Quebec.Mason is a graphite mining and processing company focused on developing the Lac Gueret Project where the graphite grade is believed by management to be among...Read More