China's hot-rolled coil prices strengthened on Monday September 9, with sentiment lifted by the central bank's announcement of a rate cut last Friday.DomesticEastern China (Shanghai): 3,690-3,710 yuan ($518-521) per tonne, up 40 yuan per tonneNorthern China (Tangshan): 3,620-3,630 yuan per tonne, up 20 yuan per tonneSpot prices gained amid surging futures, which responded to the People's Bank of C...Read More
China's rebar prices increased in both the domestic and export markets on Monday September 9 after the country's central bank unveiled plans ahead of the weekend to increase liquidity to shore up the Chinese economy. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($512-516) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,650-3,680 yuan per tonne, up 20 per tonneThe People's Bank of...Read More
The three-month aluminium price on the London Metal Exchange was higher during morning trading on Monday September 9, with a 0.6% gain against continued outflows in LME stocks, while spread tightness in nickel futures has been a key factor in reduced buying. The light metal's three-month price began the day trading at around $1,777.50 per tonne, before a 1.3% climb led the metal to breach nearby r...Read More
Base metals prices on the Shanghai Futures Exchange were broadly down during morning trading on Monday September 9 with weak data from the United States and China last week weighing on the complex.US job growth slowed more than expected in August, with data released on Friday showing total non-farm employment rising by 130,000 - missing the forecast gain of 163,000. This was followed on Sunday by...Read More
Key data from the pricing sessions in Asia and Europe during the week ended Friday September 6.ChinaKey drivers The price for antimony, MMTA standard grade II, ddp China, narrowed upward by 500 yuan per tonne to 36,500-37,000 yuan ($5,135-5,205) per tonne in the latest assessment on September 4, amid improved market sentiment as a result of the successful auction of the entire stock of antimony he...Read More
Key data from the pricing sessions in London and Shanghai in the week ended Friday September 6. China Key drivers The China silicon price stabilized over the past week following a series of increases in the previous pricing sessions. Support for more price increases has been waning after restocking from downstream secondary aluminium alloy producers...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Fastmarkets pricesClick here for Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China, yuan/tonneClick here for Fastmarkets' price assessment for the cobalt sulfate 20.5% Co basis, adjustment to standard-grade cobalt low-end price, exw China, $/Ib Click here for the formula...Read More
Cobalt sellers successfully held out for higher prices last week, despite a fairly limited uptick in consumer demand after the summer break. Fastmarkets' benchmark price assessment for standard-grade cobalt stood at $16.80-17.50 per lb, in whs Rotterdam on Friday September 6, narrowing upward by 15 cents per lb from $16.65-17.50 per lb on September 4. Alloy-grade cobalt prices were assessed at $17...Read More
European aluminium scrap prices universally dipped on Friday September 6 with the effects of China's moratorium on non-ferrous scrap imports finally being felt amid a loosening scrap supply picture. China announced a more stringent approach to non-ferrous scrap imports starting on July 1, 2019, with some participants at the time believing the move would have a negligible impact on the European sec...Read More
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It has taken a few weeks to play out but our warning of a correction in precious metals (first on August 18) is coming to pass.Last week Gold, Silver and GDX all formed big bearish reversals at multi-year resistance levels. Yes, these resistance levels (Gold $1550, Silver $18.50, GDX 31) date back to 2013.Bonds and precious metals have benefitted from the shift in Fed policy as well as fears of re...Read More
It has taken a few weeks to play out but our warning of a correction in precious metals (first on August 18) is coming to pass.Last week Gold, Silver and GDX all formed big bearish reversals at multi-year resistance levels. Yes, these resistance levels (Gold $1550, Silver $18.50, GDX 31) date back to 2013.Bonds and precious metals have benefitted from the shift in Fed policy as well as fears of re...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comSep 10, 2019 Is the gold price reaction over? Well, since the rally began in the $1170 area, corrections have not lasted very long. After rallying to the $1566 area, gold has pulled back to about $1500.Please click here now: Double-click to enlarge.Strong trend line support is already in...Read More
"This marks in history the most northerly bulk cargo ever to be extracted anywhere in the world," said Bluejay Mining chief executive Roderick McIllree.Read More
Toronto-based RPA (Roscoe Postle Associates) was acquired by UK-based Scott Wilson Group in 2006, then bought out and reprivatised by management in 2011.SLR's move on RPA follows ERM's acquisition of Australia-based CSA Global in July this year.RPA has about 60 staff, including geological, mining and metallurgical consultants, and offices in Toronto, Denver and London. The company becomes part of...Read More
We learned from Marc Pais, President and CEO of Arizona Metals Corp. (TSX.V:AMC), that they are a gold and copper exploration company, that was started in 2014 and listed about three weeks ago in August of 2019, and owns 100% of two projects in Arizona: the past-producing high-grade Kay Gold-Copper Mine in Yavapai County, and the Sugarloaf Peak Gold Project in La Paz County. Arizona Metals is curr...Read More
Xi Jinping is General Secretary of the Communist Party of China, Head of the Armed Forces, and President for Life.He has things to worry about. Xi is the "princeling" son of a Revolution hero who was sent down to the farm during Mao's Cultural Revolution but made his way back...The president picked up a degree in chemistry and went on to get a PhD. He has read all the classics on how to govern ef...Read More
Jordan Roy-Byrne CMT, MFTAIt has taken a few weeks to play out but our warning of a correction in precious metals (first on August 18) is coming to pass. Last week Gold, Silver and GDX all formed big bearish reversals at multi-year resistance levels. Yes, these resistance levels (Gold $1550, Silver $18.50, GDX 31) date back to 2013.Bonds and precious metals have benefitted from the shift in Fed...Read More
Dear Friend of GATA and Gold:U.S. Rep. Alex X. Mooney, R-West Virginia, is continuing his efforts to get answers from the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission about surreptitious interventions by the U.S. government in the financial and commodity markets and particularly the gold and silver markets.Mooney's efforts began with letters sent to the Fed...Read More