A backlog of containers of metal scrap stuck at ports across Australia has hammered the availability of steel scrap from the country and piled demurrage costs onto beleaguered traders, sources told Fastmarkets."Scrap supply in Asia is limited. Australia is having issues due to port congestion and carriers are imposing additional charges, which is raising prices," a Singaporean scrap trader said."S...Read More
Import prices for containerized ferrous scrap in the key Taiwanese market slipped further in the week to Friday October 9 ahead of a major holiday in the territory, sources said.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $265-267 per tonne on Friday October 9, unchanged from Thursday and down by $3-5 p...Read More
Key data from the Friday October 9 pricing session in London. Key drivers Suppliers lowered their offers to secure limited inquiries amid weak consumer demand. Trading has also slowed on fears...Read More
Europe and United States' lithium battery-grade spot prices held steady over the week to Thursday October 8, with the market in wait-and-see mode, while the technical-grade hydroxide price rose for the first time in a year.Europe and US battery-grade spot prices held steady for the third consecutive week after posting losses in mid-September. Sources reported strengthening prices for technical-gra...Read More
Warren Buffett is considered one of the most value-focused investors of our time. And while it’s true that he has made fortunes investing in troubled companies and leveraging recessions, he isn’t always after the lowest valuation point. This was evident in the 2020 market crash when Buffett didn’t start buying after the market was about halfway into recovery.This also falls in li...Read More
Torex Gold Resources Inc. (TSX: TXG) is an intermediate gold producer, based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt, located 180 kilometres southwest of Mexico City. We learned from Jody Kuzenko, President and CEO of Torex Gold, that their assets in Mexico inc...Read More
It didn’t take long for the mining stocksto turn south once again. No wonder, given that their breakdown was more thanverified.Additionally, they also got bearish supportfrom gold, the stock market, and the USD Index, which also confirmed theirdecisive move. For more details, let’s take a closer look at the chart below. We've witnessed the USD's breakout andbreakdowns in the precious m...Read More
On the various interviews I have done concerning the precious metals, many were surprised to hear me say that gold was not breaking out on a sustained basis with the ratio rising. When the ratio hit the target area, many have written in to say wow, shorting gold and long silver was an amazing trade.The future of precious metals is an interesting one. Of course, the pro-gold sites hate...Read More
It didn’t take long for the mining stocksto turn south once again. No wonder, given that their breakdown was more thanverified.Additionally, they also got bearish supportfrom gold, the stock market, and the USD Index, which also confirmed theirdecisive move. For more details, let’s take a closer look at the chart below. We've witnessed the USD's breakout andbreakdowns in the precious m...Read More
It didn’t take long for the mining stocksto turn south once again. No wonder, given that their breakdown was more thanverified.Additionally, they also got bearish supportfrom gold, the stock market, and the USD Index, which also confirmed theirdecisive move. For more details, let’s take a closer look at the chart below. We've witnessed the USD's breakout andbreakdowns in the precious m...Read More
Have you been able to keep up with all of 2020's plotlines?Do you remember the Australian fires? The March stock market crash? The rumors of Kim Jong-un's death?As a reminder, Kobe Bryant's death, Trump's impeachment, and the Pentagon declassifying UFO videos all happened this year, too.A lot has happened in just the past few months. So you'd be forgiven for having forgotten about many of these th...Read More
Alianza Minerals Ltd. (TSX-V: ANZ, OTC: TARSF) ("Alianza" or the "Company") is pleased to announce that the private placements of Flow-Through Shares and Units are now fully subscribed and the offerings will close shortly. The Flow-Through Shares were offered at $0.155 per share and the Unit offering is priced at $0.135 per unit, where each [...]Read full newsRead More
Exploring for Zinc, Lead and Silver in Nevada and Titanium in MongoliaRead full newsRead More
The gold mining company's plan has lost its luster.Read full newsRead More
* Discount for cash vs three-month aluminium narrows * More aluminium due to leave LME storage * China data coming into focus (Updates prices)By Pratima DesaiLONDON, Oct 9 (Reuters) - Copper prices rose to two-weekhighs on Friday after talks about financial aid for the U.S.economy restarted, the dollar slipped and miners went on strikein Chile, a top producer of the industrial metal.Benchmark copp...Read More
Shares of gold mining companies are well placed for a win-win outcome from November's U.S. election, according to MBMG Group Managing Director Paul Gambles.Read full newsRead More
Australian gold miner Northern Star Resources on Tuesday offered to buy smaller peer Saracen Mineral Holdings in an agreed A$5.76 billion ($4.14 billion) deal that will create a global top-10 gold miner by market value.Read full newsRead More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
The three-month aluminium price on the London Metal Exchange was the standout performer at the close of trading on Thursday October 8, breaching nearby resistance levels amid growing concerns over instability at Malaysian commodities hub Port Klang, while the metal's forward curve continued to shrink into the afternoon.Aluminium's outright price on the LME closed at $1,804 per tonne on Thursday af...Read More
Vale New Caledonia (VNC) will cease operations at the onset of 2021, parent company Vale's chief financial officer Luciano Siani Pires said on Thursday October 8.The news comes exactly one month after the asset's proposed sale to Australian zinc miner New Century Resources fell through.Vale announced its failure to successfully negotiate the sale of a 95% stake in VNC to the Australian miner on Se...Read More