RAPAPORT... A Botswana-based consortium bought the Lerala diamond mine for $8.1 million in an online auction on Wednesday, the asset's liquidatorstold Rapaport News.The exact identity of the winner is confidential until the full sale process and regulatory proceedings are complete, John Taylor, associate director of GoIndustry DoveBid South Africa, said Thursday. There were approximately 80 bids f...Read More
China's domestic rebar prices moved up on Thursday May 31 amid a strengthening of the billet and futures markets.Domestic Eastern China (Shanghai): 3,920-3,970 yuan ($610-618) per tonne, up 50 yuan per tonne Northern China (Beijing): 3,870-3,890 yuan per tonne, up 10 yuan per tonne Although spot prices rose, trading activity did not pick up in tandem with them with most buyers having a pessimistic...Read More
SHANGHAI, May 31 (SMM) – Most nonferrous metals rose on Thursday May 31. SHFE nickel surged 2.5% and registered a three-year high of 114,680 yuan/mt. SHFE zinc gained 1.5% with lead and copper slightly up. SHFE aluminium lost 0.78% and tin dipped.The ferrous complex rose across the board. Coking coal jumped 2.4%, coke rose 1.7%, rebar gained 1.5%, hot-rolled coil inched up clo...Read More
SHANGHAI, May 31 (SMM) – Most nonferrous metals rose on Thursday May 31. SHFE nickel surged 2.5% and registered a three-year high of 114,680 yuan/mt. SHFE zinc gained 1.5% with lead and copper slightly up. SHFE aluminium lost 0.78% and tin dipped.The ferrous complex rose across the board. Coking coal jumped 2.4%, coke rose 1.7%, rebar gained 1.5%, hot-rolled coil inched up clo...Read More
SHANGHAI, May 31 (SMM) – Most nonferrous metals rose on Thursday May 31. SHFE nickel surged 2.5% and registered a three-year high of 114,680 yuan/mt. SHFE zinc gained 1.5% with lead and copper slightly up. SHFE aluminium lost 0.78% and tin dipped.The ferrous complex rose across the board. Coking coal jumped 2.4%, coke rose 1.7%, rebar gained 1.5%, hot-rolled coil inched up clo...Read More
Laurentian Bank $LB.CA moved below $46.94 extending an intermediate downtrend.Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakouts: $HRL $BIIB. Breakdown: $KORSEditor's Note: After 10:00 AM EDT, intermediate breakouts included AMD, CHD, DGX, EQR, EXC, EXPE, NEE PGR and VTRNASDAQ Biotech ETF $IBB moved above $108.07 completing a double bottom pattern. Typical strength prio...Read More
RAPAPORT... Sarine Technologies has opened its second laboratory, offeringa full range of grading and documentation services. The new Mumbai facility follows the opening of the company's first labin Ramat Gan, Israel, earlier this year. The lab will produce diamond reports including 4Cs grading,which it will provide using its artificial-intelligence technology. The documentswill also include verif...Read More
Iranian export slab prices fell slightly in the week ended Wednesday May 30, with customers achieving lower prices in recent bookings.Metal Bulletin's weekly price assessment for Iranian slab exports dropped by $5 per tonne week on week on May 30, to $505-510 per tonne fob.A cargo of Iranian slab for shipment in July was reported to have been booked by customers in Southeast Asia within that price...Read More
SHANGHAI, May 31 (SMM) – Spot copper was mostly offered at a discount of 40 yuan/mt to a premium of 20 yuan/mt over the SHFE 1806 contract on Thursday May 31 in the Shanghai market on Thursday May 31. This compared with a discount of 70 yuan/mt to flat on Wednesday May 30.The SHFE 1806 contract hovered at 51,000 yuan/mt, and closed at 51,120 yuan/mt in the morning trading session, up 220 yua...Read More
SHANGHAI, May 31 (SMM) – Copper: LME copper rebounded last night and rose twice to a high of $6,856/mt as LME copper inventory declined and the US dollar weakened. The SHFE 1807 contract was pushed up to a high of 51,370 yuan/mt as LME copper gained and shorts cut their positions. However, it inched down to close 60 yuan/mt lower at 51,270 yuan/mt with limited support. We expect LME cop...Read More
SHANGHAI, May 31 (SMM) – Copper: LME copper rebounded last night and rose twice to a high of $6,856/mt as LME copper inventory declined and the US dollar weakened. The SHFE 1807 contract was pushed up to a high of 51,370 yuan/mt as LME copper gained and shorts cut their positions. However, it inched down to close 60 yuan/mt lower at 51,270 yuan/mt with limited support. We expect LME cop...Read More
RAPAPORT... The Diamond Bourse of Canada (DBC) will start offeringin-house 4Cs grading certification and appraisal services, it said Wednesday. Lou Berdusco (pictured), a Gemological Institute ofAmerica (GIA) graduate gemologist with more than 30 years of experience,will provide the services, which will be similar to those that majorlaboratories such as the GIA offer, the exchange said. Bot...Read More
Private Blog Three Posts – Euro – Gold – DowRead More
China's ferrous futures mostly edged up during morning trading on Thursday May 31 despite a drop in the latest steel purchasing managers' index (PMI). Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,682 yuan ($573.30) per tonne, up 6 yuan per tonne October hot-rolled coil: 3,895 yuan per tonne, up 5 yuan per tonne Dalian Commodity Exchange September iron ore: 46...Read More
SHANGHAI, May 31 (SMM) – Copper: LME copper rebounded last night and rose twice to a high of $6,856/mt as LME copper inventory declined and the US dollar weakened. The SHFE 1807 contract was pushed up to a high of 51,370 yuan/mt as LME copper gained and shorts cut their positions. However, it inched down to close 60 yuan/mt lower at 51,270 yuan/mt with limited support. We expect LME cop...Read More
Stainless steel prices in East Asia moved up over the past week amid sustained upward momentum in the nickel segment and falling spot market inventory levels in China.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,230-2,320 per tonne cif East Asian ports for the week ended Wednesday May 30, up $30-60 per tonne from a week earlier.Metal Bulleti...Read More
Palisade Research May 31, 2018 Category: Research Of the top ten gold mines currently operating in Canada and the United States, half of them are re-starts.This means they were once smaller, producing mines that ran out of ore – only to be brought back to life by a breath of exploration.These mines that were shuttered for various reasons, including: low prices, high costs, operational proble...Read More
Goldberg is one of the leading mining executives interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published next month.He said shareholders were investing more responsibly and demanding accountability - or simply not investing in businesses that did not meet their standards.Accordingly, Goldberg said miners needed to demonstrate a more consistent st...Read More
"At no point in the history of the world has the interest on money been so low as it is now."Who can dispute the good Sen. Henry M. Teller of Colorado?For lo eight years, the Federal Reserve has waged a ceaseless warfare upon interest rates.Economic law, history, logic itself, stagger under the onslaughts.We suspect that economic reality will one day prevail.This fear haunts our days... and poison...Read More
"How is your wife?" someone supposedly asked Winston Churchill.The reply, oozing Churchillian wit from every pore:Compared to what?Today's interest rates are low.But today we consider the "real" question:Interest rates are low… compared to what?The Federal Reserve has been lifting the nominal fed funds target rate since December 2015.It currently rests between 1.50% and 1.75%.That is, nomina...Read More