Seaborne coking coal prices declined across the board on Thursday August 13 except for premium hard coking coal in the fob market, where market sources said trading was relatively active. Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.99 per tonne, up $0.57 per tonne Premium hard coking coal, cfr Jingtang: $114.87 per tonne, down $0.99 per tonneHard coking coal, fob DBCT: $85.02 per t...Read More
China's domestic hot-rolled coil prices were largely stable on Thursday August 13, while overseas buyers have started to seek out cheaper position cargoes.DomesticEastern China (Shanghai): 4,040-4,060 yuan ($582-585) per tonne, widening upward by 10 yuan per tonneSeveral Shanghai-based traders said transaction prices of 4,040-4,050 yuan per tonne were the most dominant during the day, the same as...Read More
China's domestic rebar prices stopped dropping on Thursday August 13 on steady demand from the construction sector.Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($520-524) per tonne, unchangedA trader in Shanghai said his rebar sales volume during the day was the same as a day earlier, which kept him from lowering prices further.Market participants expect rebar demand to remain stable for th...Read More
Base metals prices on the London Metal Exchange were under pressure across the board this morning on Thursday August 13, with the copper price dipping 1.2%. The three-month copper price dropped by $82.50 this morning, recently trading at $6,350 per tonne, with upward movement capped by political stalemate. "The deadlock over a new stimulus deal in the US capped prices, while a softer US dollar in...Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $15.05-15.30...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
Western Australia-based miner South32 will sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Co (Temco) to UK-based conglomerate GFG Alliance, it said on Thursday August 13.The miner - which is listed on the stock exchanges in London, Australia and Johannesburg - owns manganese ore and alloy assets in South Africa and Australia through its stake in Samancor Manganese...Read More
Key data from the pricing session in Europe on Wednesday August 12.Key drivers The ferro-titanium market fell by 8.3% to reach its lowest level since January 16, 2017 - when the market was trading at $3.30-3.50 per kg - after three consecutive weeks of stable prices. Business was concluded in the new range but liquidity remains...Read More
Key data from Fastmarkets' pricing session in China on Wednesday August 12. Key driversProducers in China continued to increase their offer prices this week after noticing that previously raised offers were accepted by buyers last week.But the continued rise in spot prices this week stifled some buying interest, according to market sources.Reduced supply in the spot market was cited as one of the...Read More
Markets across the board were in consolidation mode this morning, Thursday August 13, with metals and Asian-Pacific equities mixed, while pre-market major western equity index futures were weaker. Traders seem to be waiting to see if US Congress can agree on a pandemic recovery fund and how the United States-China trade talks go this weekend when they review the phase one trade deal. High volumes...Read More
Greatpower Technology Co's background in trading has made it more flexible in its operations and sensitive toward prices as a producer of nickel and cobalt, which will benefit it in the longer term, its president, Aaron Cao, said in a recent interview with Fastmarkets."Due to our trader origins, there were some obstacles when we initially transitioned to becoming a producer because downstream cons...Read More
China's domestic and export prices for stainless steel maintained their upward trend over the past week despite lower demand than the preceding week.Nickel losses since last Friday sapped demand for stainless steel products, market sources said.The three-month nickel contract on the London Metal Exchange ended Tuesday August 11's official trading session at $14,185 per tonne, down by $248 per tonn...Read More
Shandong Gold Mining, one of China's top bullion miners, said its acquisition of a Canadian junior that owns the massive Hope Bay property in Nunavut should be approved for economic reasons.In May, the Chinese state-controlled miner signed a US$149 million deal to buy struggling TMAC Resources (TSX: TMR). The company, which went public in 2015, had seen its shares fall from a peak of C$10.77 in 20...Read More
Small-cap TSX stocks have notably outperformed their larger counterparts in the recent rally. Canadian shares at large have soared almost 50%, while the small-cap index has gained over 80% in the last four months. Let’s discuss two small-cap TSX stocks that have thrashed peers.Top TSX stock: Major Drilling GroupThe $500 million Major Drilling Group (TSX:MDI) offers mining and contract drilli...Read More
The resurgent virus and the uncertainty gripping the economy indicate that we are heading toward a recession. With an expected slowdown in the economy, it’s time to invest in stocks that are highly recession-resistant and offer steady growth. Here are three such names you can consider buying now.Kinross Gold As the threat of recession looms large, don’t forget to invest in the shares o...Read More
In many ways, the gyrations of financial markets right now make no sense. I am still shocked by the speed and scale of the recovery we’ve seen in stock markets in Canada and around the world. That said, investors who have stayed invested and ridden their long-term strategy out have performed quite well.In this article, I’m going to discuss two stocks I see as outperforming over the nex...Read More
Gold stocks have created massive wealth for investors in the recent past. Further, with the economy going for a toss amid the COVID-19 pandemic, people are looking to invest in gold mining companies such as Kirkland Gold (TSX:KL)(NYSE:KL) that are largely considered recession-proof.Shares of Kirkland Gold have returned 2,650% in the last five years. The stock has risen from $3 in August 2015 to it...Read More
You don’t need a considerable amount of money to start investing in the stock market. Even with small but regular investments, you can build a decent capital for your future. In this article, we will look at three stocks that are currently trading under $20 but can double in over the next three years.Absolute SoftwareMy first pick is Absolute Software (TSX:ABT), which provides managemen...Read More
This recent market reset has raised many eyebrows. Investors who sold on the down swing and failed to time the bottom may have actually lost money in an effort to time the market. This is a case study in why staying invested in good times and in bad is important.Many investors are concerned about another leg down in the coming quarters but want to say invested. For these investors, I’d sugge...Read More
Bob Moriarty ArchivesAug 14, 2020Depending on which liars you listen to, we have had the Wuhan/Covid 19 flu for about 9 months. In that time we should have learned a lot. The quality of our data should be better now than it was back in February/March. Alas I think the opposite is true. We are being lied to more and more every day.There is some kind of flu that probably came from Wuhan that may or...Read More