SHANGHAI, May 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index covered lost ground to stand at 92.67 overnight. Base metals saw mixed trading last night. LME nickel surged 3.1%, alunimium gained 1.82% and lead rose over 1% on declining inventory and tight supply. Copper edged down, as LME copper inventorie...Read More
The latest news and price moves to start the Asian day on Tuesday May 15.Base metals prices on the London Metal Exchange were mostly mixed at the close of trading on Monday May 14, with the three-month nickel contract climbing 3% during afternoon trading. Read more in our live futures report.Here are how prices looked at the close of trading:Cobalt prices continued to drift last week due to a...Read More
The latest news and price moves to start the Asian day on Tuesday May 15.Base metals prices on the London Metal Exchange were mostly mixed at the close of trading on Monday May 14, with the three-month nickel contract climbing 3% during afternoon trading. Read more in our live futures report.Here are how prices looked at the close of trading:Cobalt prices continued to drift last week due to a...Read More
Last week we discussed the fundamentals of Gold, which do not appear bullish at the moment. Real rates (and yields) are rising and investment demand for Gold is flat. That in itself is a temporary but big missing link. However, we are referring to the missing link in the context of intermarket analysis. Gold is an asset that performs best when its outperforming its competitors. That's true of any...Read More
Despite a firmer U.S. dollar and an optimistic outlook for the global economy, gold continues to trade at close to the psychologically important US$1,300 per ounce mark. While the yellow metal is trading well below its 2018 high of over US$1,362 per ounce, there is every indication that it could surge at any time.This is because the world, notably the Middle East, remains fraught with geopolitical...Read More
The outlook for base metals is bullish because of the global economic upswing gaining further momentum, as the U.S. economy gains steam, and key emerging markets, India and China, continue to grow at a rapid clip. This is particularly positive for base metals and beaten-down nickel producer Sherritt International Corp. (TSX:S), which has seen its market value plummet by 35% for the year to date....Read More
You've seen it before - sharp gaps up or down that occur without any trading taking place in the interim. While these phenomena can be hard (or impossible) to predict, it's worth keeping an eye out for possible market gaps and being ready to take advantage of them when they happen. But which stocks should you be watching? Let's take a look at a few small-cap superstars to low-key stalk for gaps.Th...Read More
Last week we discussed the fundamentals of Gold, which do not appear bullish at the moment. Real rates (and yields) are rising and investment demand for Gold is flat. That in itself is a temporary but big missing link. However, we are referring to the missing link in the context of intermarket analysis. Gold is an asset that performs best when its outperforming its competitors. That's true of any...Read More
Canada's Nuclear Waste Management Organization (NWMO) has signed or renewed cooperation agreements with counterparts from five countries: Belgium, France, Sweden, Switzerland and the UK. The organisation has previously signed such agreements with nuclear waste management organisations in Finland, South Korea and Japan.NWMO's Swami (right), signs an agreement with Thomas Ernst, CEO of Nagra(Image:...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 15.Read More
A surge in new nuclear plants coming online is helping to build a sustainable global energy mix, reduce emissions and meet electricity demand, but more is needed, World Nuclear Association Director General Agneta Rising told the Atomexpo 2018 conference yesterday.World Nuclear Association Director General Agneta Rising at Atomexpo 2018 (Image: World Nuclear Association)Speaking on the opening day...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Tuesday May 15, with copper falling 1.1%. Copper stocks on the LME have fallen more than 10% this month; the price of the metal continues to consolidate around $6,800 per tonne. Stronger demand from China, as well as disruptions in output across the United States and India are weighing on the market. ...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:stewart@gutrader.comMay 15, 2018Most analysts in both the gold and mainstream investment communities seem to be in “summer doldrums” mode. They are nervous about stock markets because of rate hikes and the late stage of the business cycle. That’s understandable.Unfortunately, they also seem...Read More
The stock market has gone 74 days without making a new high but that hasn't stopped the bulls from boasting about how it is up or flat six days in a row. I still say to sell into strength - David Rosenberg, Gluskin-SheffThe narrative that the economy continues to improve is a myth, if not intentional mendacious propaganda. The economy can't possibly improve with the average household living from p...Read More
Base metals on the London Metal Exchange were mostly lower during morning trading on Tuesday May 15, with broad consolidation taking place across the complex. Nickel's three-month price remains unchanged at $14,500 per tonne after climbing 3% at Monday's close. The metal reached a high of $14,635 per tonne this morning, breaking above its most recent resistance level at $14,500 per tonne and...Read More
Market acceptance of the quarterly European ferro-chrome benchmark system will continue for at least the short term, according to market participants polled by Metal Bulletin. Discontent with the settlement in previous years appears to have faded because of the stability it offers in relation to the volatility seen on the Chinese spot market. The benchmark is set in negotiations between the buy an...Read More
Industrial action has halted traffic along a key road for moving semi-carbonate manganese ore from mines in Hotazel in South Africa's Northern Cape. The R31 main road was blockaded on Tuesday morning in a dispute over pay to truck drivers. "This could seriously affect deliveries to all parts for all the miners in the area," a source said. The R31 is used to access various ports for "huge volumes"...Read More
Industrial action has halted traffic along a key road for moving semi-carbonate manganese ore from mines in Hotazel in South Africa's Northern Cape. The R31 main road was blockaded on Tuesday morning in a dispute over pay to truck drivers. "This could seriously affect deliveries to all parts for all the miners in the area," a source said. The R31 is used to access various ports for "huge volumes"...Read More
China's import markets for charge chrome and chrome ore have shown signs of recovery after producers refused to cut offers. Charge chrome import prices gain in China UG2 chrome ore prices edge higherChina's domestic ferro-chrome prices holdAlloy prices weaken in South Korea and Japan Alloy prices flatline in Europe and the United StatesCharge chrome and chrome ore prices staged a modest rebound in...Read More
Manganese prices dropped further in China last week on weaker demand downstream. Ore prices fall as much as 6% Chinese alloy prices slide on weaker demand from steel mills Indian silico-manganese weakens European alloy prices flatline US ferro-manganese holds; silico-manganese trading range narrows Manganese ore prices continued lower on Friday May 11 amid weakening demand due to shrinking purchas...Read More