Earnings at Peruvian steelmaker Aceros Arequipa more than doubled in the first quarter of 2018 compared with the corresponding period of last year on higher sales prices.The mill reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 97 million nuevos soles ($29.97 million), against 39 million nuevos soles the previous...Read More

Keith says many have been calling for a price breakout, but not understanding these fundamentals explains why the breakout hasn't happened yet...by Keith Weiner of Monetary MetalsA reader asked us this week about the personal savings rate. Most people can sense that something is wrong if the rate is in a long-term falling trend, or if it falls too low (whatever level that may be). We argue that fa...Read More

Gold and silver will zoom if there is any indication that interest rates will not be hiked in June by the Federal Reserve. Trump trade wars with China and Europe will impact industrial metals more. The Korean peninsula peace will be bearish for gold. There can be profit taking in long US dollar positions before the FOMC meet and April's NFP. Fundamentally gold and silver are bearish as physical...Read More

The USD Index reversed in a quite clear way on Friday and gold rallied. It looked like a great bullish combination for the precious metals sector, but was it really one? Gold moved higher on volume that was the lowest since the beginning of the year and this means that Friday's rally shouldn't be taken at its face value, but instead it should be closely inspected. Moreover, silver just did what...Read More

The NY Times is reporting that China won't discuss President Trump's two key trade demands when American diplomats arrive in China for negotiations next weekContinue...Read More

TECHNICAL SCOOPCharts and commentary by David ChapmanPhone: 416-523-5454 Email: david@davidchapman.comTwitter: @Davcha12April 30, 2018 It's one of the fundamental principles of the stock market: when interest rates go up, stocks go down. And along with financial companies and cyclicals, technology companies with their sky-high price-to-earnings multiples should be among the biggest losers in an...Read More

Turkish steel producers booked more deep-sea scrap for May at the end of last week, and prices continued to inch upward in trades on Monday April 30.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $352 per tonne and 5,000 tonnes of bonus at $362 per tonne cfr.Another steel mill in the same region booked a Canadian cargo, comprisin...Read More

CLICK ON CHART TO ENLARGEThe 2-pack above looks at Gold & Silver on a "Monthly Basis" over the past 8-years. Both peaked in 2011 and have struggled to move higher ever since.Overhead resistance comes into play for both at (1). During the month of April, both attempted to break above these important resistance lines, only to see buying pressure dry up and sellers step in. At months end, both coul...Read More

By Jordan Roy-Byrne CMT, MFTA It was music to gold bug ears. We've all heard the seemingly shocking or outrageous price targets for Gold. So it's not new. But this time from a non gold pusher. Someone with credibility in the larger financial world and a track record to boot. Gundlach's comment was included in every piece of Gold literature that recently crossed my desk. No doubt, if Gold s...Read More

Turkish domestic auto bundle scrap prices have gone up in line with imported scrap prices while ship scrap prices have remained stable over the past week, sources said on Monday April 30.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) in Turkey was TRY1,370-1,500 ($339-372) per tonne delivered, narrowing upward from last week's TRY1,270-1,500 per tonne.This...Read More

As Americans completed their taxes this spring, they battled for the last time with a tax system that for decades plundered their bank accounts and made American Continue...Read More

The seaborne iron ore concentrate market saw higher premiums and increased enquiries last week.The weekly Metal Bulletin 66% Fe Iron Ore Concentrate Index was at $89.57 per tonne cfr China on Friday April 27, up $1.69 per tonne - or 1.90% - from a week earlier. The daily Metal Bulletin 65% Fe Iron Ore Index averaged $84.88 per tonne cfr China over the week, up $1.22 per tonne - or 1.5% - from the...Read More

The London, Warsaw and Australian-listed company has two coal projects in Poland, Jan Karski and Bebiensko, and has signed a six-month non-disclosure agreement with JSW while the miner looks at buying them or partnering with Prairie.Read More

They will replace directors Matt Idiens and Dave Pelham, who plan to retire after the company's annual general meeting later this year.Both directors will also join the company's technical advisory committee, of which Roux has been made chairman.He was most recently COO of Endeavour mining and has over 42 years' experience in the mining industry, with previous experience at Anglo American, De...Read More

Prices for CIS-origin billet remained largely unchanged in the week ending Monday April 30 amid reduced buying activity.Mills and traders sold significant volumes of billet in the preceding week and took a wait-and-see position over the past seven days, preferring to assess the market situation.Traders expect to see another round of price falls in the near term, but mills were more optim...Read More

Import prices for steel billet in Southeast Asia have edged up again over the past week despite the level of general demand remaining soft, while prices for slab fell on lower offers after a period of high prices that lasted for several weeks.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $540-555 per tonne cfr for the week ended Monday April 30, widening upwar...Read More

Highlights included 50m at 0.56% copper, 0.5g/t gold and 236.4g/t silver; and 36m at 1.45% copper."We expect to convert a large portion of our inferred oxide resource to indicated, which was one of our primary objectives this season," CEO Adam Lundin said.Filo released a preliminary economic assessment on the oxide portion of the project's existing resource in November, which outlined an after-tax...Read More

RAPAPORT... Three Art Deco emerald and diamond pieces by legendaryBritish designer Hennell sold for $2.7 million (GBP 1.9 million) at Bonhams in Londonfollowing a bidding war. The collection's top-seller was an early-20th-century,double-sided-cabochon, 12.13-carat emerald and diamond pendant necklace (pictured), whichwent for $1.8 million (GBP 1.3 million), far exceeding its pre-sale estimate of$2...Read More

Gold and silver will zoom if there is any indication that interest rates will not be hiked in June by the Federal Reserve. Trump trade wars with China and Europe will impact industrial metals more. The Korean peninsula peace will be bearish for gold. There can be profit taking in long US dollar positions before the FOMC meet and April's NFP. Fundamentally gold and silver are bearish as physical...Read More

BOTSWANA – A diamond mine in Botswana will be offered for sale at an online auction after its liquidators failed to secure viable offers.Online bids for the Lerala Diamond Mine open at 17:00 on May 24 and run through 14:00 on May 30, according to a statement published in the weekly Monitor newspaper by the auctioneers, GoIndustry DoveBid.AdvertisementLerala, which is owned by Sydney-based Ki...Read More