The domestic Chinese magnesium price picked up during the first week of November after producers raised their offer prices, however, weak downstream demand limited the price growth, sources said.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,500-12,600 yuan ($1,890-1,906) per tonne on Friday November 6, an increase of 100 yuan per tonne from 12,400-12,500 yuan per tonne...Read More
The European Commission (EC) has ended an anti-subsidy investigation into hot-rolled stainless steel sheet and coil originating from China and Indonesia, the EC said on Monday November 9.The investigation was terminated after European steel association Eurofer withdraw a complaint on September 18, 2020. The EC started an anti-subsidy investigation on October 10, 2019 after Eurofer.....Read More
After seven consecutive weeks of decline, portside prices for low- and high-grade manganese ore in China halted their downtrends with the high-grade one even registering slight gains in the week to Friday November 6 on increased buying interest from alloy smelters. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 30.60 yuan ($4.63) per dry metric tonne...Read More
Chinese steel production has been enough to cushion the global vanadium market from weaker demand in Europe and the United States in the fall-out from the coronavirus pandemic, according to Paulo Misk, president and chief executive of Largo Resources. "China - the country we [in February] thought was most affected [by Covid] - actually saw a surge of vanadium consumption. In the first half of 2020...Read More
Earnings season has taken a back seat to some major news the last few days. The U.S election and the news of a potential coronavirus vaccine have been front and centre. These events are definitely big market movers, and TSX stocks had a massive rally as a result.The presidential election is crucial, as it will shape how North American markets perform over the next four years. So too is a prom...Read More
Broader stock markets changed course on the vaccine news yesterday. While TSX stocks at large gained big, the top-gainer sectors of 2020 like tech and mining tumbled on November 9. But what should long-term investors do?ShopifyShopify (TSX:SHOP)(NYSE:SHOP) is unarguably one of the biggest winners of the coronavirus pandemic. Probably that’s why investors turned cautious and felt like booking...Read More
Could the pandemic soon be over? That was the mood in the markets Monday morning. With Pfizer (up 10%) trumpeting 90% efficacy in trials of its COVID-19 vaccine candidate, the TSX Composite Index shot up 1.56% before noon. Investors may wish to temper their expectations, however. While the rollout of a workable vaccine signals the end of the pandemic, the effects of the crisis will continue to wei...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comNov 10, 2020 Conspiracy buffs are probably wondering if Monday’s big vaccine announcement (that occurred just after the election of Joe Biden) was a coincidence. Would the outcome of the election have been different if the vaccine announcement was made a few days before the election...Read More
The gold price is similar to this point yesterday, at US$1,877 an ounce on the spot market.US president Donald Trump is continuing to say he will win the election, which was held last week and widely considered won by rival Joe Biden.Independence Gold (TSXV: IGO) was a standout in Toronto, on reporting 67.6m averaging 3.63g/t gold and 132.83g/t silver from 51m at its 3Ts project in British Columbi...Read More
Arrow Minerals Ltd (ASX: AMD), as a result of its 2019 merger with Boromo Gold, is an emerging gold exploration company, with about a $10 million market cap, advancing its projects in Burkina Faso and Western Australia, two of the most prospective and fast-growing geological environments in the world. We learned from Howard Golden, Managing Director of Arrow Minerals, that with the discovery over...Read More
It's day 242 of the COVID-19 pandemic. Yesterday Pfizer said it has a vaccine for the dreaded malady that has a 90% effective rate and is in Phase 3 trials.The stock market launched. Or I should say those stocks that had been big winners sold off and those that were losers jumped - but still not high enough to be year-to-date winners.Like Bob Dylan once wrote, "The slow one now will later be fast,...Read More
Gold Standard Ventures reported it has taken a key step in initiating the permitting process for its South Railroad Project by submitting its Plan of Operations to the U.S. Bureau of Land Management. RC drill at the Pinion North ZoneIn a news release, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced that "it has submitted its Plan of Operations to the U.S. Federal Bureau of Land Manag...Read More
RAPAPORT... Alrosa's sales exceeded 2019 levels for the third consecutive month in October as the diamond market improved ahead of the holidays.The Russian miner saw sales of $310 million for the month, it said Tuesday - 17% higher than the $264.4 million it reported a year earlier. Rough sales rose 18% to $299.3 million, while polished revenue grew 3% to $10.7 million."In October, demand for...Read More
RAPAPORT... The economic challenges resulting from Covid-19 have forced companies and industries at large to reassess their value propositions. Along with the tremendous health concerns, the coronavirus has also brought unprecedented disruption to the global economy, pushing the business community to modify the way it operates. The changes that have taken effect during the coronavirus will likely...Read More
RAPAPORT... A Tutti Frutti bracelet by Cartier is set to go under the hammer at Bonhams in Hong Kong this month, with a high estimate of HKD 2.8 million ($361,105).The piece, which features a carved foliate emerald center stone in a diamond and sapphire frame, contains a band set with rubies, emeralds and sapphires. It will headline the November 28 Jewels and Jadeite sale, Bonhams said last week."...Read More
RAPAPORT... Two weeks after New York's Museum of Art and Design (MAD) closed due to the coronavirus pandemic, Franci Sagar hosted the Store at the MAD's first virtual trunk show. It was far from her last; MAD has conducted virtual selling events about twice a month since April."I never thought we'd sell a dollar - I just thought we'd keep people engaged," admits the vice president of brand an...Read More
RAPAPORT... The diamond sector's rebound from the Covid-19 crisis will feature ups and downs that will continue into next year at least, De Beers predicted."The demand recovery is not expected to be linear, particularly as localized lockdowns take place," De Beers explained Monday in its annual Diamond Insight Report. "Retailer expectations for the second half of the year are mixed, with...Read More
(IDEX Online) - Alrosa's recovery continued last month with total sales of $310m even though it effectively canceled its trading session.That was 17 per cent up on the same month last year. In September the Russian miner reported totals sales of $336m, up 23 per cent year-on-year and in August it sold $216m, up 16 per cent on the same month in 2019.It canceled the October trading session to a...Read More
(IDEX Online) - India's diamond traders are calling on the government to make good on its promise to scrap the new two per cent e-commerce tax on rough imports.The finance ministry gave industry leaders an undertaking in August that diamonds would be exempt from the equalization levy introduced in April.But after three months it has yet to formally amend the law, prompting concerns among diam...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Kodiak reported intercepting 192m at 1.21% copper-equivalent, or 0.74% copper, 0.48g/t gold and 2.75g/t silver, from 308m.It was part of a 515.8m interval grading 0.63% Cu-eq and included a higher-grade 45m at 2.13% Cu-eq.Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.To...Read More