Turkish steel producers continued to hold back from the deep-sea scrap markets on the second working day of the week because of the soft markets for finished long steel products, sources said on Tuesday July 7.Steel mills in Turkey booked five deep-sea cargoes in the second half of last week, totalling around 140,000 tonnes.But they were still expected to book more cargoes for August shipments, ac...Read More

Seaborne iron ore prices stayed bullish on Tuesday July 7, largely following the upward trend observed in the futures market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $103.01 per tonne, up $1.77 per tonne.62% Fe low-alumina fines, cfr Qingdao: $105.31 per tonne, up $1.32 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $91.84 per tonne, up $2.03 per t...Read More

Seaborne coking coal prices remained relatively flat on Tuesday July 7 due to a lack of drivers for the market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.86 per tonne, down $0.17 per tonne Premium hard coking coal, cfr Jingtang: $125.26 per tonne, down $0.16 per tonneHard coking coal, fob DBCT: $93.33 per tonne, unchangedHard coking coal, cfr Jingtang: $104.67 per to...Read More

Three-month base metals prices on the London Metal Exchange consolidated lower in the morning of Tuesday July 7, following low-volume trading over the Asia hours, while copper's forward spreads eased despite net outflows. Copper's outright price on the LME was recently at $6,093.50 per tonne on Tuesday morning, falling from a morning high of $6,172.50 per tonne, while turnover was low at just over...Read More

Global manganese ore production increased by 23% in May month on month from April amid the removal of output restrictions worldwide, the latest data from the International Manganese Institute (IMnI) shows.Global supply hit 1.5 million tonnes in May, up by 23% from April and with manganese ore output from all producing countries increasing month on month.The biggest regional output increase came fr...Read More

Protests on Tuesday July 7 have halted road freight transportation in South Africa. Miners' trucks have been toppled and drivers threatened while demonstrators have sought to enforce their shutdown of the nation's road freight system. The target of the demonstrations is all road freight and is not focussed on the...Read More

With the exception of China's CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Tuesday July 7, while base metals prices on the London Metal Exchange were mixed, although in general were holding up well. China's equity markets are experiencing a retail investor rally that is being encouraged by state media - the market is up by almost 14% over th...Read More

China has issued its ninth round of scrap metal import quotas for 2020, approving considerably larger volumes than in previous rounds at a time of persisting uncertainty surrounding the country's move to rename certain non-ferrous scrap metal as renewable materials.A total of 176,746 tonnes of copper scrap has been approved for import into China in the ninth round of quotas, the China Solid Waste...Read More

The risks to the markets are many — in fact, the outlook for stocks is so complex this year that pundits are offering wildly different predictions. It seems as though just about every letter of the alphabet has been considered for a recovery model. From an L-shaped recession to a V-shaped recovery, no two projections coming from analysts match up right now.The only thing to bet on, therefore...Read More

Canadian broader markets continue to climb higher recently, despite rising economic uncertainties. TSX stocks on average have surged more than 40% in the last three months, pushing many into the overbought zone.Investors should note that the relative strength index (RSI) of a stock is a momentum oscillator that takes values between 0 and 100. A stock with an RSI above 70 is overbought, while a sto...Read More

Bayan Khundii project, Mongolia. (Image courtesy of Erdene Resource Development.) Erdene Resource Development (TSX:ERD) has released drill results from the Midfield Southeast zone of the company's 100%-owned BayanKhundii gold project in southeast Mongolia. "Drill results from the new Midfield southeast zone, including one metreof 582 g/t gold within an intersection of 5.5 metres grading 126 g/t g...Read More

The Pan mine. Photo by Fiore Gold. US-focused gold producer Fiore Gold (TSXV: F) announced Wednesday preliminary production results for the fiscal third quarter of 2020 from its Pan open-pit mine in White Pine County, Nevada.The Pan mine, located 28 kms southeast of the town of Eureka, was bought by the company out of bankruptcy in 2016 for approximately $5 million.For the three-month period, gol...Read More

The Chelopech mine is located on the southern flank of the Balkan Ranges. Credit: Dundee Precious Metals Inc. Dundee Precious Metals (TSX: DPM) has delivered strong preliminary production results from both of its Bulgarian mines and its smelter in Namibia for the second quarter of 2020. The company says it is on track to meet its previously issued guidance for 2020 at each of its operations despi...Read More

The company's exploration camp is hundreds of kilometers north of the Arctic Circle, with the team and equipment mobilized from Iceland by a charter flight and helicopters. (Image courtesy of Greenfields Exploration.) Greenfields Exploration said on Wednesday it had identified a "shopping list of high-quality acquisitions" in Greenland, which could give it about 28% of all areas under license in t...Read More

Exploration drilling along the PureGold trend Credit: Pure Gold Mining Underground drilling at Pure Gold Mining's Red Lake mine in Ontario has returned high-grade intercepts from both step-out and infill holes.The company released 10 initial assays from a 30,000-metre drill program, which started in June. These drill holes extend the mineralization around planned stopes, suggest new gold zones...Read More

Bob Moriarty ArchivesJul 8, 2020In the past few weeks the resource markets have begun to show investors what they can expect when the market understands the meaning of the hyperinflation headed our way. While I believe the DSI and rampant speculation are giving a signal for a correction soon, I can’t predict if it will be a small burp or a serious drop.I can predict the general market led by...Read More

Today is Wednesday, July 8, 2020, and this is your daily energy stocks roundup. Today we're looking at the valuations of Arch Resources (NYSE: ARCH), Clean Energy Fuels Corporation (NASDAQ: CLNE), and Baytex Energy Corporation (NYSE: BTE).Arch Resources (NYSE: ARCH)Arch Resources (NYSE: ARCH) is a $428.24 million company today with a one-year return of -67.75%. Let's look at its price-to-earnings...Read More

Jeff Clark, Senior Analyst, GoldSilverMost everyone you know is a member of a cult. It's not their fault, and they didn't consciously seek it out, but your friends and family and almost everyone you know and even come in contact with belong to a system that has brainwashed them.This cult is robbing them. And it's doing so clandestinely, without their knowledge or approval. It's so sly that they...Read More

- Craig Hemke, TF MetalsFor as long as I can remember, I've stated that negative nominal and negative real interest rates are the key, primary driver for higher gold prices. And now we're seeing this play out in real time.First of all, what is the "real" interest rate? Simply put, it's the nominal or stated rate of a bond minus the inflation rate. Here's a definition from Investopedia:And here...Read More

By Hubert Moolman During the 70s bull market, gold went from $35 to $195 in the first phase. That was a 458% increase. The first phase of the current bull market took gold from $252 to $1920, which made for a 661% increase. At first glance, it would appear that the current bull market outperformed the 70s one. However, it only took about five years (1970 to 1975) to get the 458% increase, co...Read More