Japan's Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.A total of 23,000 tonnes of H2 scrap were sold to two trading companies on Wednesday December 11 at the auction held by the cooperative of scrap dealers in Japan's most-industrialized region - 3,000 tonnes priced at ?2...Read More
Chinese hot-rolled coil prices were mixed on Wednesday December 11, with those in the east of the country rising due to tight supply and those in the north flat amid sluggish demand.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($551-553) per tonne, up 60 yuan per tonneNorthern China (Tangshan): 3,660 yuan per tonne, unchangedSpot prices in eastern China surged amid active trading, with...Read More
The three-month nickel price on the London Metal Exchange was little changed during morning trading on Wednesday December 11 despite another sizeable inflow of material into LME-registered warehouses, keeping forward spreads wide. The LME nickel price was recently at $13,440 per tonne, $35 per tonne higher than Tuesday's closing price. Turnover was high at more than 2,600 lots exchanged over the m...Read More
China's domestic rebar prices were mixed amid weaker demand on Wednesday December 11, with eastern prices up but those in the north of the country down.Eastern China (Shanghai): 3,930-3,960 yuan ($558-563) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,640-3,670 yuan per tonne, down 10-20 yuan per tonneEnd users kept procurement rates limited and stockists were not looking to repl...Read More
When Gay Huey Evans attended her first London Metal Exchange dinner in 1999, she was head of markets at former UK regulator the Financial Services Authority (FSA) - some 20 years later she was there as LME chair elect, the first woman appointed to the role. "As a regulator I would send my markets people and occasionally come to learn a little bit more about commodities. I remember sitting in the b...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 11.Key drivers Price ranges in the alloy and scrap markets have widened over the past week, with sales reported for ferro-silicon at either end of its new price assessment.Low-tin titanium scrap was also trading at slightly higher price levels, although some sources said the market is fairly stable, with a b...Read More
Royalty and streaming company Triple Flag Precious Metals has cancelled a planned initial public offering (IPO) due to poor market conditions."While the company has been encouraged by investor interest in its proposed initial public offering," Triple Flag stated, "the market environment for share offerings, particularly near year-end, continues to be challenging."The company had planned to issue 2...Read More
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Alrosa said in a statement the disposal was approved by the board earlier this week.Read More
The new appointments are Paula Cousins, who will become Weir's chief strategy and sustainability officer, and Garry Fingland, who maintains his present position as chief information officer.Read More
South Africa miners including Sibanye-Stillwater and Impala Platinum told Mining Journal on Thursday their mines were back up and running after a devastating stage 6 rolling blackout forced someRead More
There's a crisis in the metals market that's been developing for the past several years that is so unnerving, it recently caught the attention of many of billionaires, big tech corporations like Apple, Google, Microsoft, and Amazon, and members of the highest levels of the U.S. government.To be honest, much of it went unnoticed by the mainstream media and investing public. And I'm not surprised. T...Read More
By: Dave KranzlerTo the extent that some analysts reject the Fed/Wall St/Perma-Bull narrative that the Fed's repo operation is needed to address "temporary" liquidity issues or was caused by the newer regulatory constraints, the only explanation offered up is that the financial system's "plumbing" is malfunctioning. But there has to be an underlying cause......The underlying cause is abject de...Read More
- Gary Christenson, The Deviant InvestorBubbles, like a cocaine high, are fun while they last. History confirms that bubbles and cocaine are enjoyable, because central banks blow many bubbles and the U.S. imports a large quantity of cocaine.Bubbles are fun, but they extract a price. There is no free lunch.Examples:2019: The Everything Bubble.It hasn't crashed yet, but there are many bubble pi...Read More
- Jordan Roy-Byrne CMT, MFTAIf you follow our work, you are aware of our growing optimism on gold stocks in 2020.As we've written, the fundamental setup in 2020 should be bullish for precious metals.Meanwhile, the technical setup for gold stocks is one of the best we've ever seen. Gold stocks (and GDX specifically) are consolidating in a bullish fashion within a nearly 7-year long base that,...Read More
Gold's post breakout reaction back from its early September peak has evolved into a steady downtrend as we can see on its 6-month chart below. The approach of the rising 200-day moving average below suggests that this reactive downtrend will have run its course before much longer leading to a second upleg. However, gold's COTs have shown no improvement as this downtrend has unfolded, which is a...Read More
By: Ira EpsteinI am bullish gold, but don't want $1,463 taken out. We are above 18-dma, $1,499.60 resistance area:Read More
There will be short covering and subsequent buildup of long positions if gold and silver rise today and tomorrow. There was no surprises in FOMC meet. Now the focus will shift to European central bank meeting, impeachment news related to Trump and UK elections and the key trade deal. Fed Chairman Jerome Powell said the economic outlook for the U.S. was favorable as the central bank announced its...Read More
"You can have a fiat money standard if people have confidence. There are a couple of ways to destroy confidence. One, too much debt, and the other one is inflation. Inflation is not much of a problem right now but too much debt is, because it points to inflation as a way out." Part 1 (part 2 below)"With slow growth I think you'll see one, maybe two rate cuts, that will give the stock market a boos...Read More