Breaking News! North Korea has agreed to denuclearization. Great! But what does it mean for the gold market? And... why is this not true? Gold Starts Week BadlyThe yellow metal struggled on Monday. Its price declined from $1,335 to $1,320, or more than 1.1. percent, as one can see in the chart below. Chart 1: Gold prices from April 20 to April 23, 2018. The weakness could be caused by many fa...Read More
Ted Butler says the CFTC simply ignores the specific questions about manipulation in the silver market. Here's the latest example...by Ted Butler via SilverSeekA new interview by James McDonald, Director of Enforcement for the U.S. Commodity Future Trading Commission (CFTC), on Friday makes it clear that neither he nor the Commission has any intent to address the obvious manipulation of the silver...Read More
Earnings at Russia's largest steelmaker, Novolipetsk Steel (NLMK), soared by 31% year-on-year in the first quarter of 2018 on favorable pricing conditions and higher export volumes.NLMK's earnings before interest, taxes, depreciation and amortization (Ebitda) for the three months totaled $812 million, against $618 million in the corresponding period last year, according to its latest financial sta...Read More
Cost of production and future supply problems place a floor on the price of silver, and this contrarian indicator may be the the best news in six years...Eric Dubin and Jason Burack on Welcome to Dystopia Episode #41Jason Burack of Wall St for Main St and independent financial journalist Eric Dubin are back for Episode #41 of Welcome to Dystopia.In today's episode, Jason and Eric discuss the recen...Read More
Peter KrauthThe price of silver had a volatile week, climbing all the way to $17.31 on Thursday (April 19), before settling back down below $17 yesterday (Monday).Because of that volatility, I'm going to show you today exactly where I see the price of silver heading in both the short term and the long term.But first, we need to look at exactly why silver prices reversed course last week.By all acc...Read More
Turkish domestic prices for ferrous scrap from shipbreaking went up slightly during the week that ended on April 23, while domestic auto bundle scrap prices were largely stable, sources said on Tuesday April 24.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market was $348-355 per tonne delivered, up from last week's $341-352...Read More
"Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. This role includes the obligations to: (i)Continue...Read More
Seaborne iron ore prices fell on Tuesday April 24, in line with a decline in the paper market.Metal Bulletin 62% Fe Iron Ore Index: $67.26 per tonne cfr Qingdao, down by $0.41 per tonneMetal Bulletin 58% Fe Premium Index: $56.08 per tonne cfr Qingdao, up by $0.10 per tonneMetal Bulletin 65% Fe Iron Ore Index: $85.30 per tonne cfr Qingdao, down by $0.30 per tonneMetal Bulletin 62% Fe China Port Pri...Read More
Prices of houses and condos across the US surged 6.3% from a year earlier (not seasonally-adjusted), according to the S&P CoreLogic Case-Shiller National Continue...Read More
Anglo American is anticipating a reduction of about $300-400 million in earnings for 2018 due to an outage at its Minas-Rio iron ore operations in Brazil, where it does not expect to resume material production for the remainder of the year."The current expectation is that the operations will begin to ramp up in the fourth quarter of 2018," the miner said on Tuesday April 24.Output at Minas-Rio dro...Read More
Russia purchased 300,000 ounces of gold in March and now has around 2,000t in gold reservesContinue...Read More
A steep decline in the The S&P 500 Tuesday is giving new life into gold Continue...Read More
Prices for domestic steel rebar in the United Arab Emirates and Saudi Arabia were stable this week, although demand was not strong, sources told Metal Bulletin on Tuesday April 24.And demand for imported rebar in both countries remained almost non-existent.Domestic rebarThe major rebar producers in the UAE announced their current prices on March 26.The biggest steel producer, Emirates Steel, is of...Read More
China's domestic rebar prices edged up further on Tuesday April 24 on rising futures, but trading activity has thinned. Domestic Eastern China (Shanghai): 3,880-3,920 yuan ($615-621) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,740-3,770 yuan per tonne, narrowed upward by 10 yuan per tonne Rebar futures continued to strengthen during the day, albeit at a less rapid pace as Monday, w...Read More
Import prices for billet in Southeast Asia picked up some strength over the past week amid higher offers from China as a result of a recovery in its domestic market, while those for slab were flat again on thin trading.BilletMetal Bulletin's assessment of import prices for billet in Southeast Asia was $540-545 per tonne cfr for the week ended Monday April 23, narrowing upward by $5 per tonne from...Read More
RAPAPORT... Petra Diamonds saw a jump in revenue in the third fiscal quarter amid a stronger rough market.Revenue surged 44% year on year to $172 million for the three months ending March 31, while salesvolume increased 28% to 1.4 million carats, the miner reported Monday. The average selling price rose 12% to $125 per carat. Rough prices increased 5% on a like-for-like basis at the two tende...Read More
The proposed acquisition would give Chaarat 50% ownership in Kumtor, including its common equity and management and operation of the mine, while Kyrgyzaltyn would own the mine's preferred equity and be entitled to 50% of its economic benefits.Read More
Canada Cobalt Works Inc. (TSXV:CCW) is quickly advancing its cobalt-silver property in Ontario with a proprietary separation technologyAngela Harmantas | April 24, 2018 | SmallCapPower: With a new name to start off 2018, Canada Cobalt Works Inc. (TSXV:CCW), formerly Castle Silver Resources, is putting plans in motion at their Castle Cobalt Silver Project in northeastern Ontario. Frank Basa, CEO o...Read More
SHANGHAI, Apr 24 (SMM) – Nonferrous metals fell across the board on Tuesday April 24, as SHFE aluminium led with a loss of 3.69%. SHFE nickel and tin dropped over 1%, copper and lead edged down slightly while zinc dipped.The ferrous complex notched a strong performance except for iron ore. Coking coal and coke rose over 2%, rebar went up over 1% and hot-rolled coil gained 0.77%.Cop...Read More
Chinese vanadium exporters lowered their offer prices over the past week due to the weakened Chinese domestic market and a lack of interest from foreign buyers. Meanwhile, the European and US markets continued their slide. Chinese export prices slide on softer domestic prices, limited foreign buyer interestEuropean ferro-vanadium prices continue to suffer from profit-taking US ferro-vanadium marke...Read More