China's rebar market maintained its downward trend on Tuesday June 18 amid weakening demand. Domestic Eastern China (Shanghai): 3,790-3,840 yuan ($547-554) per tonne, down 10-30 yuan per tonneNorthern China (Beijing): 3,650-3,700 yuan per tonne, down 30 yuan per tonneRain in both Shanghai and Beijing capped trading activity during the day. Market participants expect demand to weaken in the next fe...Read More
Pala Investments will buy 100% of the remaining shares in Cobalt 27 for C$501 million ($374 million), the companies said on Tuesday June 18.A newly created company, Nickel 28, will hold Cobalt 27's joint-venture interest in the Ramu nickel-cobalt mine, as well as its other royalty and equity positions. Cobalt 27's physical cobalt position - about 2,900 tonnes - and its streaming deal for Vale's Vo...Read More
Fastmarkets hosted a free web seminar on Tuesday June 18 discussing recent price moves in the cobalt market and how industry developments might affect the market - and prices - going forward. If you missed it, follow the link below to listen to the free recording. Cobalt: contending with volatility in 2019 and beyondDuring the web seminar we discussed: Price assessment specifications, methodology...Read More
After 19 years of providing live spot market prices for gold, silver, platinum and palladium to hundreds of thousands of clients across the world, Fastmarkets will retire the Bullion Desk brand and close the Bulliondesk.com website. Prices will be available on Fastmarkets.comFastmarkets will continue to provide free precious metals spot prices and charts for gold, silver, platinum and palladium. T...Read More
Production of battery materials, including cobalt sulfate and nickel sulfate, at Guangxi Yinyi Advanced Material will not be affected by the bankruptcy of its parent company, Yinyi Group, Fastmarkets understands. Yinyi Group, the holding company for Shenzhen-listed ST Yinyi, has recently applied to Ningbo Intermediate People's Court for rehabilitation to solve its liquidity problems, according to...Read More
While generally weak global economic data continues to weigh on sentiment and is keeping base metals prices under pressure, the rise in tensions between the United States and Iran has lifted the gold price this morning, Tuesday June 18.The market is also waiting for direction from the US Federal Reserve, which it should get on Wednesday when the Federal Open Market Committee (FOMC) meeting provide...Read More
Outokumpu hopes to increase capacity by 100,000 tonnes per year and significantly improve lead times by fully digitalizing production at its site in Tornio, Finland, by 2020, it said on June 17. The stainless steel producer has been working with software giant Microsoft to build an industrial digital platform, Outokumpu Digital Platform (ODP), that will result in end-to-end digital manufacturing a...Read More
Ferro-silicon prices in China were steady in the week ended Friday June 14 with the release of a largely unchanged benchmark tender price, firm futures and tighter availability for prompt material providing support.In Europe, the market has stirred into life after several weeks of inaction amid quarterly tender talks, while the US market softened after coming under pressure from weakness in global...Read More
"Had a very good telephone conversation with President Xi of China," US president Donald Trump tweeted earlier, saying the countries' teams would begin talks prior to the pair's meeting at G20 in Japan next week.Markets across the globe closed higher yesterday and were mostly set for a positive start today.Among the bigger moves by mining stocks on equity markets, Cobalt 27 Capital Corp (TSXV: KBL...Read More
I hate coal.But this really shouldn't be news to you; my veteran readers have known my bearish sentiments over the coal industry for years.Don't get me wrong - you won't see me with a picket sign anywhere, nor will you see me marching on the steps of the Capitol calling for a complete and immediate ban on coal production.Remember, for all the hate and derision thrown at the coal industry, it still...Read More
- Dave Kranzler"The latest University of Michigan consumer confidence report noted that its index tracking those who think it's a good time to buy a home has fallen by a hefty eight points in the past two months even as mortgage rates have dropped." - Danielle DiMartino Booth, "The Fed Can't Help Housing Or Autos At This Point"I'm not the only analyst who has concluded that lower rates likely w...Read More
Last week was a strong one for gold, which managed to eke out its fourth straight week of positive gains. The price of the yellow metal broke above $1,350 an ounce last Friday, while gold miners, as measured by the NYSE Arca Gold Miners Index, tested their 52-week high.Investors sought safe haven investments on a number of geopolitical risks, including protests in Hong Kong over the now-delayed...Read More
- Stefan GleasonUncle Sam is going broke. That's not exactly news - at least not to anyone who has been paying attention to the sorry state of federal finances.Yet to most Americans, the ballooning national debt ($22.3 trillion and counting) isn't a problem that impacts their daily lives. They won't directly perceive the cost of another trillion dollars in borrowing in the government's next fi...Read More
By Avi GilburtThe amount of discussion I am seeing on television, as well as in print, regarding what the Fed is going to do just amazes me. Are people this oblivious to the realities around them?I really have a hard time understanding this. So, maybe you good people can help me. The Fed was clearly going to continue raising rates this past winter. No one even questioned that. Well, almost no on...Read More
By: Robert LambourneThe statement of account for May 2019 of the Bank for International Settlements, published this week, indicates that the bank is still trading gold swaps, which the bank uses to gain access to gold held by commercial banks. But the statement indicates that bank's recent activity in the gold market is much reduced from its activity during the second half of 2018.There is not e...Read More
- Stewart Thomson, Graceland Updates 1. It's my firm belief that most Americans are living in a fantasy world where a superhero named President Trump is going to negotiate fabulous "America-first" trade deals with cowering governments around the world... and Americans will then magically relive the 1950s with massive GDP growth, even while QE to infinity becomes as American as apple p...Read More
By: Ira EpsteinGold in an overbought market challenging the high...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Jordan Roy-Byrne, Founder of The Daily Gold joined me for a discussion on the set up in the gold market heading into the Fed meeting. We look at the spec position in gold and the USD as well as how gold has been preforming against other currencies of late. Finally a comment on the overall breadth in the gold stocks, which are great indicators of a potential breakout.Jordan Roy-Byrne, CMT is a Char...Read More