Back in 2005 a reporter took a tour of General Motors' headquarters, and in the resulting article one thing stood out: The executives and engineers the reporter interviewed were only modestly enthused about their sedans and sub-compacts. But they really liked talking about their expanded line of Hummers. Then oil spiked and gas prices hit records. And GM's bet on massive gas guzzlers blew up in...Read More
All TMX markets, including Montreal Exchange, are experiencing issues with trading, all users are equally impacted and are unable to connect to our Exchanges. We apologize for the inconvenience and continue to investigate. Further updates will be provided.Continue...Read More
By Avi Gilburt & Xenia TaoubinaFor those that have followed the long-term bond market, you have likely seen many analysts attempting to call the top to the market. And, many have even tried multiple times. However, through the years, bonds continued to chug higher and high.On June 27th, 2016, we sent out a major alert to our members entitled "Beware of Bonds Blowing Up." Yes, we took o...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices ended the week above the $65-per-tonne mark, with most market participants staying away on Friday April 27 to cut their risk ahead of a four-day trading break in China due to a public holiday over the first two days of next week.Meanwhile, India's largest iron ore miner, NMDC, lowered it...Read More
Founding shareholder O'Rourke will leave the company on June 1, although will remain as non-executive chairman and a director on the board.Clausen will join Copper Mountain after he finishes working on the acquisition of Brio by Leagold Mining.He has more than 30 years' experience in the base and precious metals industry, most recently as CEO of Brio Gold (from 2014) and before that as CEO of...Read More
I see five reasons for (very modestly) elevated concern: (1) The tracking estimates were 3% just a month or two ago, this is a deterioration from what were expecting up until recently.Continue...Read More
Indian domestic secondary billet prices have risen by at least 600 rupees ($9) per tonne this week, with demand for semi-finished steel being strong while availability was low.Secondary billet is mainly produced in induction furnaces, and Metal Bulletin's price assessment for the product on Friday April 27 was 35,500-35,700 rupees ($531-534) per tonne ex-mill. This was an increase of 600 rupees pe...Read More
The company has appointed Ian Reid to the board as a non-executive director. He is currently a non-executive director at Canadian Western Bank, Stuart Olson and Associated Engineering and Voice Construction, as well as chairman of Fountain Tire.Reid previously held several senior management positions at Caterpillar distributors and became president of Finning in Canada from 1997 until he retired i...Read More
After the excitement last week, when silver suddenly enjoyed a bear squeeze briefly pushingContinue...Read More
UK long steel producer British Steel remains confident about its wire rod export business despite growing protectionism in international steel markets, Richard Sims, the company's managing director for wire rod, told Metal Bulletin last week.This protectionist trend saw the European Commission (EC) start a safeguard investigation into imports of 26 steel products on March 26.This had the intention...Read More
It's easy to dismiss seasonality in the price of a tradable asset. After all, if supply and demand fluctuate regularly you'd think the resulting arbitrage would attract Continue...Read More
The AIM-listed dump leach retreatment play bought the Sasa zinc and lead mine last year as a way to diversify its revenue base.Last month, CAML announced Nick Clarke would drop the ‘executive' from his chairman title and those duties would go to CFO Nigel Robinson as the CEO. Gavin Ferrar was promoted to CFO in his place. Yelland has been at Shanta since 2015 and was promoted from...Read More
The light iron scrap market in the UK was steady for a third week on Friday April 27, with business sufficiently active to support current prices, Metal Bulletin has heard.But lower export prices to major overseas buyers of European scrap such as Turkey may undermine the UK market in the near future.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis w...Read More
The dividend of Rb147.12, or US$2.35, per ordinary share was recommended by the board of directors and is subject to shareholder approval at an annual general meeting on May 31.The dividend record date will be June 10 and will bring the total pay-out for 2017 to US$550 million, including the $239 million paid out in October for the first half of the year.Polyus' current dividend policy requires a&...Read More
Global ferrous scrap prices were mostly going down during the working week ended Friday April 27 due to thinner trading and weaker demand.A public holiday in Turkey reduced the demand for bulk cargoes, while a slight pickup in daily prices toward the end of the week did not boost week-on-week price changes. The weak bulk export sales in the United States added downward pressure to bulk prices, com...Read More
SHANGHAI, Apr 27 (SMM) – Nonferrous metals rebounded for the most part except for copper. SHFE nickel led the gains with a rise of over 1.3%, lead went up nearly 1%, while tin, aluminium, and zinc inched up. The ferrous complex saw mixed trading with slower rates of decline. Iron ore, coking coal, and coke dipped over 1%. Hot-rolled coil and rebar closed nearly 1% higher....Read More
The assets include the operating Valunisty gold mine and 31,000 ounce per annum processing plant and two large licence areas, Kanchalano-Amguemskaya Square (KAS) and Kayenmivaam.At January 1, the JORC proven and probable ore reserves of Valunisty and KAS were 3.4 million tonnes at 5.1g/t gold equivalent and their indicated and inferred mineral resources were 17.6Mt at 3g/t Au equivalent. &nb...Read More
Prices for containerized shredded scrap imported into India were stable this week with buyers returning to the market following a lull in activity, sources told Metal Bulletin on Friday April 27.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was largely unchanged this week at $385.15 per tonne cfr Nhava Sheva on April 25, down by $0.29 week-on-week, compared w...Read More
- Gold mining shares require timing and are speculative- Gold mining: "maximising risk, while minimising reward"- Gold mining is increasingly complicated, difficult & much riskier- Easier, more cost efficient and safer to buy physical gold than mining stocks- "If your strategy is buy and hold, or buy and forget, go for the metal, not the miners"- Owning allocated and segregated gold is a hedge...Read More