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SMM Morning Comments (May 24)

May 24, 2018 / news.metal.com

SHANGHAI, May 24 (SMM) – Copper: Prices of copper weakened last night as US President Donald Trump's remarks grew US-Sino trade uncertainties. LME copper lost the gains that it made during the past three days and fell back to all moving averages. The SHFE 1807 contact also fell to the 10-day moving average. We expect LME copper to trade at $6,800-6,880/mt today with the SHFE contrac...Read More

The "Axis of Gold" Just Got Stronger

May 24, 2018 / dailyreckoning.com

As you probably know by now, President Trump backed out of the nuclear deal with Iran and is re-imposing harsh sanctions.And just this morning, Trump announced that he's canceling the much-anticipated nuclear summit with North Korean leader Kim Jong Un because of Kim's recent belligerent comments.What does that mean, aside from the added geopolitical risk to markets?As you're about to see, you can...Read More

The Oil Story Nobody Is Telling...

May 24, 2018 / dailyreckoning.com

Just over one year ago, with oil prices hitting $43 and falling fast, I suggested that the market was making a big mistake.My opinion at the time was that oil prices should have been rising, not falling.I based that opinion on the fact that global oil inventory levels had been steadily declining for months and that the amount of oil being produced daily was already below the amount of oil demanded...Read More

India launches WTO trade dispute against US over Trump metal tariffs

May 24, 2018 / www.metalbulletin.com

The Indian government has launched a disputes proceeding at the World Trade Organisation (WTO), protesting the United States' imposition of duties of 25% on imports of India-made steel and 10% duties on aluminium products.New Delhi argues that the tariffs, imposed on March 23 by the Trump administration to protect and expand American aluminium and steel production, break the WTO's general agreemen...Read More

Atalaya's profits, revenues up in solid March quarter

May 24, 2018 / www.mining-journal.com

Profit after tax for the quarter increased 54% year-on-year to €8.8 million (US$10.3 million), which translated to profit of 6.5c per share on a fully diluted basis, up from 4.8c/share in the March 2017 quarter.Read More

IRON ORE WEEK: Demand for iron ore in China to remain stable, Cisa secretary general says

May 24, 2018 / www.metalbulletin.com

Chinese demand for iron ore is expected to be stable this year, with steel producers prioritizing capacity cuts in line with government directives, according to Liu Zhenjiang, secretary general of the China Iron & Steel Association (Cisa). China's gross domestic product growth of 6.8% in the first quarter of the year augured well for iron ore demand for the rest of the year, Zhenjiang told delegat...Read More

PEOPLE MOVES: Stemcor appoints Martyn Konig non-executive chairman

May 24, 2018 / www.metalbulletin.com

International steel trading group Stemcor has appointed Martyn Konig as non-executive chairman effective immediately, it said on Wednesday May 23.Konig, who is also non-executive chairman of Belgian-listed zinc smelting group Nyrstar, replaces Scott MacDonald, who had been Stemcor chairman...Read More

Spot copper offers inch up, futures prices slump in Shanghai

May 24, 2018 / news.metal.com

SHANGHAI, May 24 (SMM) – Spot copper offer discounts narrowed some 10 yuan/mt from Wednesday to 100-20 yuan/mt over the SHFE 1806 contract on Thursday May 24, SMM learned. Weighed down by LME copper, the SHFE copper 1806 contract slumped nearly 500 yuan/mt last night. The contract continued to trade weakly this morning. Sellers attempted to raise offers this morning but t...Read More

SMM Morning Comments (May 24)

May 24, 2018 / news.metal.com

SHANGHAI, May 24 (SMM) – Copper: Prices of copper weakened last night as US President Donald Trump's remarks grew US-Sino trade uncertainties. LME copper lost the gains that it made during the past three days and fell back to all moving averages. The SHFE 1807 contact also fell to the 10-day moving average. We expect LME copper to trade at $6,800-6,880/mt today with the SHFE contrac...Read More

Open orders 'will be filled' despite disruption by fire, Bahrain's USCO says

May 24, 2018 / www.metalbulletin.com

Planned deliveries of stainless steel by Bahrain's United Stainless Steel Co (USCO) after a factory fire will not be disrupted and the company does not plan to declare force majeure, a spokesman for plant managing entity Chromiumsteel told Metal Bulletin on Thursday May 24.A fire halted operations at USCO's stainless steel re-rolling mill in Salman Industrial City in Al Hidd, northern Bahrain, ear...Read More

China AM: HRC contract rises, but others remain weak

May 24, 2018 / www.metalbulletin.com

China's hot-rolled coil futures bucked the trend during morning trading on Thursday May 24, ending the session higher while other contracts continued to soften.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,529 ($553) per tonne, down 7 per tonne October hot-rolled coil: 3,729 yuan per tonne, up 18 per tonne Dalian Commodity Exchange September iron ore: 456 yuan...Read More

East Asian stainless steel prices dip on weak demand

May 24, 2018 / www.metalbulletin.com

Stainless steel prices in East Asia fell slightly over the past week amid persistently low buying interest, although a few mills were still reluctant to lower their offers due to a spike in the nickel market.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,170-2,290 per tonne cif East Asian ports for the week ended Wednesday May 23, down $20-40...Read More

Freezing order on Katanga has had no material effect on copper-cobalt operations, Glencore subsidiary says

May 24, 2018 / www.metalbulletin.com

A freezing order on copper-cobalt assets held by Katanga Mining in the Democratic Republic of Congo (DRC) has not so far had any material effect on the Glencore subsidiary's operations, it said last week.On April 27, Glencore said that Ventora Development Sasu - its former partner in the DRC, which is associated with Israeli businessman Dan Gertler - was suing it for $2.28 billion in unpaid royalt...Read More

Rusal warns sanctions 'materially adverse' to company; CEO, seven directors to resign

May 24, 2018 / www.metalbulletin.com

UC Rusal has warned shareholders that the US Treasury's sanctions on the company may hamper its cashflow and its ability to obtain financing, according to a statement released on Thursday May 24.A separate announcement was also released on Thursday announcing the resignation of the company's chief executive officer and seven directors. The Russian aluminium company, which accounts for 7% of global...Read More

Brent Cook: It's a Good Time to be in Mining - but be Selective

May 24, 2018 / www.youtube.com

Brent Cook of Exploration Insights says while institutional and retail funds are scarce "the people who know the industry the best" are putting money into juniors.________________________________________________________________Investing News Network (INN)Find out more about investing by INN @http://investingnews.com/Want a FREE investor kit? Download here?+"http://investingnews.com/resource-fre......Read More

What's Happening to Brandon Knight's NBA Career?

May 24, 2018 / www.youtube.com

What's Happening to Brandon Knight's NBA Career? Phoenix Suns point guard Brandon Knight's NBA career hasn't gone as some thought when he was selected with the eigth pick of the 2011 NBA draft. Download Amino and join me in the Hardwood community!iOS and Google Play: https://aminoapps.com/c/nba/join/Follow Me: CaineLovesCaliSubscribe to CaineLovesCali: youtube.com/cainelovescali?sub_confirmation=1...Read More

Brandon Ingram Workouts with Micah Lancaster

May 24, 2018 / www.youtube.com

SUBSCRIBE to our YouTube channel for more basketball training videos: http://bit.ly/1GGVVGWFOLLOW us on Social Media: ?-? Facebook: http://on.fb.me/1HWTRw8 ?-? Twitter: http://bit.ly/1BE4CuU ?-? Instagram: http://bit.ly/1De6BvFLearn About Our Trainers, Players, Coaches, and More At: https://main.possibletraining.com/Like the gear we use? Check out our shop: https://www.iamtraining.org/ Check out m...Read More

Green Energy & Battery Metals 101 with Katusa Research's Rob Fuhrman

May 24, 2018 / www.youtube.com

Rob Fuhrman is an Investment Analyst at Katusa ResearchJoin us at an upcoming event! http://www.cambridgehouse.comStay Connected!http://www.cambridgehouse.com/https://twitter.com/cambridgehttps://www.facebook.com/cambridgehou...Copyright (C) 2015 Cambridge House International Inc. All rights reserved.Read More

Rob Fuhrman, Katusa Research - IMIC 2018

May 24, 2018 / www.youtube.com

Investing News Network (INN)Find out more about investing by INN @http://investingnews.com/Want a FREE investor kit? Download here?+"http://investingnews.com/resource-fre...Follow us Facebook:https://www.facebook.com/resourceinve...Follow us on Twitter:@INN_ResourceThe Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts....Read More

The Energy Revolution - A Brighter Future For Investors?

May 24, 2018 / www.youtube.com

Our demand for energy storage is only going to keep increasing and with it the demand for energy metals. Will this energy revolution mean a brighter future for investors?Watch as Keith Schaefer (The Oil & Gas Investments Bulletin), Rob Fuhrman (Katusa Research), and Chris Parry (Equity Guru) present their insight and stock picks on Lithium, Cobalt and Copper, as well as discuss the massive potenti...Read More

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