Base metals prices on the Shanghai Futures Exchange were all down heavily during morning trading on Monday May 6, after US President Donald Trump threatened to raise tariffs on $200 billion of Chinese goods because US-China trade negotiations are moving "too slowly".In a post on social media platform Twitter overnight, Trump said that tariffs of 10% on certain Chinese goods would increase to 25% o...Read More

ArcelorMittal plans to temporarily idle production at its steelmaking facilities in Poland, reduce production in Spain and adjust shipments at ArcelorMittal Italia, temporarily reducing annualized production by 3 million tonnes, the company announced on Monday May 6.The company credited high energy costs, low demand and rising imports for the decision."These actions reflect the weak demand environ...Read More

China's hot-rolled coil market appeared to have held up against threats of higher import tariffs in the United States on Monday May 6, though sentiment took a beating, which could result in some downside for prices.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($603-604) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedSpot prices were largely stab...Read More

Import prices for steel slab in Southeast Asia and East Asia were unchanged over the past week amid quiet market conditions ahead of the start of the Islamic holy month of Ramadan.Re-rollers in Indonesia remain well-stocked and are in no rush to replenish supplies due to an expected reduction in business activity during Ramadan, a trader in Southeast Asia said.Ramadan starts on May 5 and ends on J...Read More

The threat of higher import tariffs in the United States failed to have much of an effect on China's rebar market, with domestic prices holding steady on Monday May 6 despite tumbling futures.Domestic Eastern China (Shanghai): 4,090-4,140 yuan ($607-615) per tonne, unchangedNorthern China (Beijing): 3,990-4,030 yuan per tonne, unchangedWhile rebar futures experienced a big decline during the day a...Read More

Cheaper hot-rolled coil cargoes from Russia and Turkey dampened import prices for the flat steel product in Vietnam over the past week, market sources told Fastmarkets MB.The Fastmarkets MB weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $530-540 per tonne cfr for the week en...Read More

Trading activity in the Singapore rebar import market was tin in the past week due to an absence of Chinese participants for most of the period due to a holiday.Fastmarkets MB's weekly import price assessment for rebar into Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $505 per tonne cfr for the week to Monday May 6, unchanged from a week ea...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 70,000 tonnes of 65% Fe Iron Ore Carajas, traded at $109.65 per tonne cfr China, laycan May 21-30.BHP, Corex, joint cargo, 110,000 tonnes...Read More

Brazil's iron ore exports fell by 29.1% in April compared with the same period in 2018, with several of Vale's operations remaining suspended in the wake of a tailings dam breach, data released by the country's economy ministry last week showed.Brazil exported 18.34 million tonnes of iron ore last month, compared with 25.88 million tonnes a year earlier. Last month's shipments are also 17.3% lower...Read More

The seaborne iron ore pellet and concentrate markets regained some strength last week, and prices are expected to rise further this week after participants return from a break for Labor Day in China.PelletsThe weekly Fastmarkets MB 65% Fe Blast Furnace Pellet Index was at $128.18 per tonne cfr China last Friday May 3, up by $1.27 per tonne from a week earlier.Some traders received word that a carg...Read More

Nearly 1,500 delegates will descend upon Singapore this week to attend the seventh edition of Singapore Exchange's (SGX) annual Singapore Iron Ore Week.Much of the conversation at last year's event revolved around the need for suitable risk mitigation tools in the iron ore market amid wide and volatile grade differentials due to the Chinese government's environmental protection policy and robust m...Read More

Ferrous scrap will be the "next big thing" for commodity-based derivatives in Asia, according to the Singapore Exchange (SGX).It is one key commodity that the SGX is looking at to expand its slew of ferrous derivatives under the "virtual steel mill" concept, in addition to the iron ore and coking coal contracts that are already trading well on its platform, the exchange's head of commodities, Will...Read More

High-profile investments by Agnico Eagle Mines (TSX: AEM; NYSE: AEM) in two new Nunavut gold operations will drastically alter the company's production profile with the onset of commercial production later this year. However, perhaps lost in the excitement is that its core operations in Quebec - La Ronde, Canadian Malartic and Goldex - are also expected to expand. Help on the regulatory front from...Read More

Several weeks ago we wrote about the downside risk in the gold stocks.After the various gold stock indices formed distribution-type tops, the subsequent selling has been swift. Miners have plunged through moving averages and short-term breadth indicators quickly reached oversold extremes.While the gold stocks are oversold, it could be a little while before we can expect a sustained rebound.We plot...Read More

Tomorrow stands to be an interesting day for those investors that are following changes in the metals and mining segment and, more specifically, Barrick Gold (TSX:ABX)(NYSE:GOLD). So far, 2019 hasn’t been kind to miners. In the case of Barrick, year to date, the stock is down over 7%, and over the trailing 12-month period the stock is sitting near flat.That lack of growth in the stock pric...Read More

Cameco (TSX:CCO)(NYSE:CCJ) is down after releasing its latest quarterly results. And while investors might be disappointed in the results and likely tempted to keep their fingers on the sell button, there are three reasons to remain optimistic about the stock.Company remains optimistic for the futureIn the earnings release, Cameco president and CEO Tim Gitzel suggested that there’s a lot of...Read More

Charlie Munger, Warren Buffett’s partner at Berkshire Hathaway, believes that investing is largely a game of patience.Munger and Buffett have displayed a talent for picking the right stocks, but sticking with them for decades is what’s provided a lot of their outperformance."If you took our top 15 decisions out, we'd have a pretty average record,” Munger said. “It wasn't hy...Read More

Several weeks ago we wrote about the downside risk in the gold stocks.After the various gold stock indices formed distribution-type tops, the subsequent selling has been swift. Miners have plunged through moving averages and short-term breadth indicators quickly reached oversold extremes.While the gold stocks are oversold, it could be a little while before we can expect a sustained rebound.We plot...Read More

Weekly Reports |May 07 2019The uranium spot price ended April above the end-March price, but momentum faded as the month wore on.-April rally spot uranium fades-US production plunges-France to extend nuclear reduction timeframeBy Greg Peel20 transactions were concluded in the uranium spot market in April, industry consultant TradeTech reports, totalling 4.6mlbs U3O8 equivalent. Having been on the...Read More

Bob Moriarty ArchivesMay 7, 2019Very few people actually understand my role in the resource sector. Lots of people think I am just a guy who runs a mining website and writes about companies now and again. Actually behind the scenes I am far more active, and verbal than readers realize. You can talk to anyone who has ever worked with me and they will tell you that they may not agree with me but the...Read More