The lack of decisive action in US-Sino trade talks and whispers of retaliatory tariffs between the two countries weigh heavily on the base metals complex during morning trading on Wednesday May 29. "The whole effect has made investors realize that China has not yet retaliated against the proposed rise in Trumpian tariffs, and on that, some commentators now expect the trade war radio silence from B...Read More
Copper premiums in Shanghai rose in the week ended Tuesday May 28, with a more favorable import arbitrage between London and Shanghai and limited availability of solvent extraction-electrowinning (SX-EW) cathode providing support.Elsewhere, soft demand and ample availability in Germany caused premiums there to weaken, while quiet conditions kept the US copper market flat. Premiums in Shanghai move...Read More
Key data from the Wednesday May 29 pricing session in Europe.Key drivers - The European ferro-titanium price moved down week on week, dropping on profit-taking after six weeks of stability.- Some sources reckon supply worries on production cuts should support prices at the $5-per-kg level in the near term, although others reported prices below that point for third-quarter deliveries. One dealer re...Read More
The South African Transport and Allied Workers' Union (SATAWU) will start a country-wide port strike at 17.30 local time on Wednesday May 29. Although the union claimed the action will bring South Africa's economy "to a standstill," manganese and chrome market sources said on Wednesday it is too early to assess the potential impact of the strike on the market, adding that the situation should be m...Read More
The following Fastmarkets minor metals prices changed on Wednesday May 29:Minor metalsAntimony MB free market regulus, $/tonne: $6,600-6,850 per tonne from $6,700-6,950Antimony MMTA standard grade II, $/tonne: $6,500-6,700 per tonne from $6,500-6,750Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 38,000-39,000 yuan per tonne from 39,000-40,000 yuanBismuth MB free market,...Read More
Switzerland-headquartered miner-trader Glencore has reached a long-term revolving agreement to supply Belgian battery-materials manufacturer Umicore AS with cobalt hydroxide, Glencore said on Wednesday May 29. Glencore will supply materials from its Katanga and Mutanda mining assets located in the Democratic Republic of Congo (DRC) to Umicore's cobalt refineries globally, including the Kokkola ref...Read More
Markets remain jittery while US-China trade war rhetoric escalates with the latter raising the possibility of including rare earth minerals in their trade negotiations. Equity markets have sold off and bond yields have fallen as investors move into havens.Trade war rhetoric escalatesEquites sell off on Tuesday, while Treasury yields fall furtherMarket now indicating increased likelihood of two US...Read More
Import prices for stainless steel in East Asia narrowed over the week to Wednesday May 29 after some producers raised their asking prices following the uptick in the London Metal Exchange nickel price although demand in the region remained weak.304 stainless 2mm trimmed cold-rolled coilFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia narrowed...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 29:Titanium scrapTurnings, unprocessed type 90/6/4, 0.5% Sn max:...Read More
The price of rebar produced and delivered in Northern Europe fell by ?,?10-20 per tonne week on week after domestic mills lowered offers amid weak demand and import competition, market participants told Fastmarkets on Wednesday May 29. Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?505-535 ($565-598) per tonne delivered on May 29, down from ?,?525-545 per to...Read More
This episode features an in-depth interview with the man of the hour in the gold-mining industry: Mark Bristow, president and CEO of Barrick Gold since Jan. 1, 2019, when its merger with Bristow-led gold miner Randgold Resources took effect.This exclusive interview was recorded live as a "fireside chat" with senior staff writer Trish Saywell at The Northern Miner's Canadian Mining Symposium held a...Read More
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1. The fear trade for gold continues to gain fundamental strength. The technical picture is also solid. Please click here now. Double-click to enlarge. Gold is poised for significant upside action in the second half of this year.2. A large bull wedge is in play as institutional investors become more concerned about the slowing global economy.3. Please click here now. Double-click to enlarge. This...Read More
So the steel and aluminum tariffs have finally been lifted, yet the TSX index has barely shrugged in response - indeed, the metal and mining industry is down 3.3% this week and down 16.2% for the past year. While some pundits may have expected to see share prices of affected companies at least bob a little on the good news, the fact is that trashing the tariffs hasn’t had much of an effect o...Read More
1. The fear trade for gold continues to gain fundamental strength. The technical picture is also solid. Please click here now. Double-click to enlarge. Gold is poised for significant upside action in the second half of this year.2. A large bull wedge is in play as institutional investors become more concerned about the slowing global economy.3. Please click here now. Double-click to enlarge. This...Read More
TSLA had yet another bad week, closing down $19 (9%) from the previous Friday's close. Last week every attempted bounce in the stock was shortable on a daytrading basis. Currently Tesla's shares are trading at $188. It would likely be a lot lower if it weren't for Musk's repeated "leaked" emails loaded with dubious production and delivery claims, with both barrels pointed directly at short-sellers...Read More
China's president Xi Jinping had visited a rare earth processing plant last week, which was seen as leverage for trade talks given the country's dominance in supply.Chinese media reports yesterday then warned the US not to "underestimate China's ability to strike back", Reuters reported."The outcome of this has to be an increased focus outside China on rare earths production because while China ha...Read More
I'm not going to lie...I think our continued reliance on internal combustion is absolutely absurd.It is an outdated technology that needs to be retired.And it will be.The truth is, electric vehicles ARE the future of personal transportation.The transition is inevitable. But it's also not going to happen as fast as some would like.According to Bloomberg, by 2040, 57% of all passenger vehicle sales...Read More
By: Ira EpsteinRead More
By: Dave KranzlerTSLA had yet another bad week, closing down $19 (9%) from the previous Friday's close. Last week every attempted bounce in the stock was shortable on a daytrading basis. Currently Tesla's shares are trading at $188. It would likely be a lot lower if it weren't for Musk's repeated "leaked" emails loaded with dubious production and delivery claims, with both barrels pointed direct...Read More