Seaborne iron ore pellet transaction volumes and prices remained robust in the week ended Friday May 10, while the corresponding figures for iron ore concentrate remained weak.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was $128.58 per tonne cfr China on May 10, up by $0.40 per tonne from a week earlier.A cargo of 64% Fe Indian Jindal pellet traded at $121-122 per tonne cfr,...Read More
Seaborne iron ore prices softened on Monday May 13 amid weaker steel markets and an appreciation of the United States dollar against the Chinese yuan.MB 62% Fe Iron Ore Index: $96.10 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.78 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $99.92 per tonne cfr Qingdao, down $0.58 per...Read More
Delegates at the Singapore Exchange's (SGX) annual Iron Ore Week welcomed the SGX's multiple iron-ore derivative contracts launched over the last decade, saying that each contract served specific market requirements, Fastmarkets heard."Iron ore quality depends a lot on geological factors and, unlike copper, it is not a homogenous [product] so therefore it makes sense to have different derivatives...Read More
The seaborne coking coal market maintained its upward momentum on Monday May 13 on steady demand for the steelmaking raw material outside of China.A June-loading cargo of branded materials was traded at $211.50 per tonne fob Australia on trading platform Global Coal during the day, market sources said.A July-laycan cargo of premium mid-vol hard coking coal was also sold at $203 per tonne fob Austr...Read More
Domestic prices for rebar in eastern China dipped on Monday May 13 amid high selling interest among stockists. Domestic Eastern China (Shanghai): 4,040-4,080 yuan ($592-597) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,910-3,960 yuan per tonne, unchangedSellers in eastern China lowered their prices slightly to secure more sales in an effort to destock. Many stockists are worried th...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week-long period to Friday May 10.ChinaThe Chinese silicon export market's price range tightened with downstream buyers refusing to pay higher prices amid bearish sentiment. Concurrently, dip-buying and tight upstream supply boosted the low end of the range. The biggest producer in northern China has halted around hal...Read More
Key data from the pricing sessions in Asia and Europe for the week-long period to Friday May 10.China The Chinese domestic antimony price fell significantly on an increase in supply after almost all the private antimony producers in Lengshuijiang city resumed their production after the May Day holiday (May 1-4). Chinese antimony suppliers cut their offers last week to encourage sales in a weak mar...Read More
The lack of any last minute breakthrough in US-China trade talks has led to risk-off this morning, Monday 13 May, with money moving into haven assets.Lack of a US-China trade deal prompts risk-off European equities follow Asian equities lower, US treasury yields weaken Base metals In line with the escalation in trade tensions between the United States and China, most of the three-month base metals...Read More
Predicting where a stock will be in 10 years is a difficult task. Doing so for a mining stock is even tougher.Still, there are several important clues that can help us predict the future more clearly.Take Barrick Gold Corp (TSX:ABX)(NYSE:GOLD) for example. Over the last decade, shares have lost more than half of their value.After its multi-billion merger with Rangold and a new joint venture with N...Read More
Commodity prices are broadly down over the past month, and one has to wonder if it all isn't spelling trouble for certain leading Canadian metals and mining stocks.Negotiations between China and the United States hit another bump in the road with the U.S. announcing on Friday plans for additional tariffs on Chinese imports.But while the absolute dollar amount the new tariffs sounds onerous, they'r...Read More
When this year started, I’d argued that investors should keep gold in their portfolios. Central banks had seemingly capitulated on their rate-tightening paths in late 2018. This spurred a stock market run in the first quarter of 2019. The yellow metal managed to hold steady for much of the year before a dip in April.The deterioration in trade talks between the United States and China has rat...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comMay 14, 2019 The short seasonal rally for gold that typically follows India’s Akha Teej holiday (May 7 this year) is in play but this time it is being “juiced” by a major US stock market meltdown! In a game with nine innings, the US business cycle is probably in the eight...Read More
The price of gold soared over $13 Monday as flight-to-safety money flowed into the precious metals sector while the stock market went into a downward spiral. I see Monday's market action as a preview of what's in store going forward as price discovery once again engulfs the stock market and causes the most extreme stock bubble in U.S. history to deflate.Despite the fact that it seems to be taking...Read More
China yesterday announced plans to raise tariffs on about US$60 billion worth of US imports in retaliation to America's move last week to increase duties on about $200 billion worth of Chinese imports.The US then released a further list of about $300 billion worth of Chinese goods that could be hit with a 25% tariff, Bloomberg reported earlier.The tariff tit-for-tat has escalated after the pair fa...Read More
On Sunday I saw my mother. The rain was falling in waves from the sky and getting tossed back up from the truck tires on 695. A big blow rolling up the East Coast, some remnant of the disaster storms that flooded the Midwest, I supposed.The deluge had been going on for days, overflowing the gutters and rotting the soffits. Another chore I'd have to deal with at some point. Mother was today's duty....Read More
Pucara Resources is a privately held Canadian grassroots gold explorer and project generator company focused on Peru. At PDAC 2019, we learned from Steve Zuker, President & CEO of Pucara Resources, that they are primarily focused on the underexplored Ayacucho area of South-Central Peru, where they have 14 projects, of which 3 are ventured to tier-one mining companies. Two other properties are mult...Read More
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. The team of proven mine-builders is advancing a portfolio of exploration and development projects, including the Mengapur Copper-Iron Project, in Pahang State of Malaysia, and the Murchison Gold Projects in Western Australia, towards becoming a mid-ti...Read More
By: Michael J. Kosares, USA GoldThe Exter Inverted Pyramid of Global LiquidityCredit risk, liquidity and goldIn a recent edition of Credit Bubble Bulletin, Doug Noland, the long-time critic of contemporary monetary policy, writes about the odd times in which we live from a financial perspective. "Such a precarious time in history," he laments. "So much crazy talk has drowned out the reasona...Read More
By: Keith Weiner, Monetary MetalsWe have deviated, these past several weeks, from matters monetary. We have written a lot about a nonmonetary driver of higher prices mandatory useless ingredients. The government forces businesses to put ingredients into their products that consumers don't know about, and don't want. These useless ingredients, such as ADA-compliant bathrooms and supply chain trac...Read More