Let's take a second look at the drivers of gold. We have already stated that the three most important factors are: the real interest rates, the U.S. dollar, and the risk aversion. Fair enough. But we have presented just the first approximation. We need to dig deeper. Why? First, all these variables are connected together. Many analysts and investors who listen to them often make a mistake, assu...Read More
Trump is using Chanakya Neeti called "Saam, Daam, Daand, Bheed" on North Korea issues. This means first negotiate, if negotiate does not work then buy him, if buying does not work then threaten him, if threatening also does not work, then use a divide and rule policy. The last resort is an armed conflict. Lessons from Libya have been learnt by North Korea. China and Russia its neighbors are ther...Read More
Import prices for flat steel products in South America were once again unchanged this week, Metal Bulletin heard on Friday May 25.Some offers involving Chinese materials were heard on the region's Pacific coast, but no deals were concluded because buyers continue to resist their higher prices.China-origin cold-rolled coil (CRC) volumes were offered to the Chilean market at $665-670 per tonne cfr,...Read More
By Avi GilburtThe question I posed in the title of this article has been debated ad nauseum by market participants for decades. While we clearly have "cycles" analysts who claim that the market can be timed, there are significantly more doubters than believers. For those that know me, you would know that I run several trading rooms accommodating approximately 3700 subscribers and over 450 mon...Read More
By Steve St. AngeloThe U.S. and global economies are choking on a massive amount of debt. While Wall Street and the Mainstream financial media continue to rationalize the skyrocketing debt as merely the cost of doing business, the disintegrating fundamentals point to an economic catastrophe in the making.Of course, a full-blown economic meltdown may not occur this year or even next, but as tim...Read More
Most flat steel prices in Turkey's domestic, import and export markets have been stable this week, with demand remaining limited, market participants told Metal Bulletin on Friday May 25.Domestic producers are accepting orders for July production. And with the Turkish lira continuing to lose value against other currencies during the week, imports are becoming increasingly expensive.The lira was tr...Read More
SHANGHAI, May 25 (SMM) – Nonferrous metals, except for SHFE tin, rose across the board on Friday May 25. SHFE nickel led the increases with a gain of 1.8%. SHFE zinc and aluminium gained over 1%, lead and copper inched up,Most ferrous metals closed higher. Hot-rolled coil rose close to 1%, rebar and coke nudged up. Coking coal and iron ore dipped.Copper: The SHFE 1807 contract rebounded from...Read More
Saudi Arabia and Russia are considering raising OPEC and non-OPEC oil production by around 1 million barrels a day, according to sources who spoke with Reuters.Continue...Read More
The positive NI 43-101 PEA determined the project to have an 18-year mine life with its estimated 32.7 million tonnes of ore with a diluted grade of 9.07% zinc-equivalent to be mined and processed at an average 4,900t per day.A start-up mining rate of about 5,000tpd will be achieved with conventional truck and shovel surface mining from the Tom and Jason deposits, with production the shifting unde...Read More
China's ferrous futures were subdued during morning trading on Thursday May 24, with only the hot-rolled coil contract ending the session just above negative territory after posting solid gains a day earlier.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,568 ($559) per tonne, down 22 per tonne October hot-rolled coil: 3,797 yuan per tonne, up 1 per tonne Dalian...Read More
It said ongoing exploration efforts had included 1,000 holes comprising 76,000m drilled since December, which had extended the mineralised zone to an area 4km long and 3km wide.The drilling confirmed the high-grade nature of the Kari Pump target and expanded the mineralisation to 1.3km along strike and across a width of 160-200m, while remaining open to the north and northwest.The Kari Center disc...Read More
Steady demand, tight supply and reduced imports in the United States have kept domestic and import beam prices firm compared with a month ago, market participants said. American Metal Market's assessment of domestic W8- x 8-inch beams was at $42 per hundredweight fob mill on Thursday May 24, in line with mill list prices, while import medium sections were steady at $7...Read More
Click Here to Listen to the Interview - *the interview begins at 6:17David Smith joins Money Metals Exchange to talk about the ongoing destruction of the U.S. dollar. He explains why he believes those who continue to ignore the dollar's decline will end up like the homeowner who one day discovers his house has slowly been destroyed by an army of termites, but learns it's too late to anything abou...Read More
SHANGHAI, May 25 (SMM) – To improve air quality and regulate pollution for the Shanghai Cooperation Organisation (SCO) Summit in Qingdao, Shandong province, environmental protection authorities in Shandong and Jiangsu will undertake inspections from May 30-June 11. All of Shandong province will subjected to the probes while just Xuzhou and Lianyungang in Jiangsu will be affected. The ef...Read More
Beadell MD Simon Jackson made the point a number of times at the company's AGM this week that the key reason for shareholders to be invested in the stock was for the exploration potential.Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Physical iron ore prices softened on Friday May 25 amid declining futures and despite gains in the steel market. They reached their lowest level since April 16, when prices were $63.93 per tonne.Chinese demand for iron ore is expected to be stable this year, with steel producers prioritizing capacity cu...Read More
SHANGHAI, May 25 (SMM) – Copper: Copper prices gained last night as the US dollar index weakened. Struggling between several moving averages, LME copper is expected to move above them and trade at $6,860-6,920/mt today with support from longs. The SHFE 1807 contract hovered between the five- and 60-day moving averages last night with support from the 20-day moving average. It is likely...Read More
ST PETERSBURG – Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength.Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov told Reuters the first four months of the year showed very good sales result...Read More
The miner has cut its 2018 production guidance to 505,000-515,000 ounces of gold, a 12% drop from the previous forecast's midpoint, and upped the expected all-in sustaining cost per ounce for the year by 15% to US$875-$890. Read More