Warren Buffett reduced Berkshire Hathaway‘s stake in gold miner Barrick Gold (TSX:ABX)(NYSE:GOLD) by nearly 50% in the third quarter. It was an unsurprising move when you consider Buffett’s past reluctance to invest in the “unproductive” shiny metal that he once said was “no match for the American mettle.”Berkshire trims top gold miner Barrick GoldWith two effec...Read More
According to the latest 13F filings, Warren Buffett-led Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) sold 40% of its stake in Barrick Gold (TSX:ABX)(NYSE:GOLD) during the third quarter. As of September 30, the investing conglomerate held 12 million shares of the Canadian gold miner. While Buffett himself is a strong devotee of long-term investing, Berkshire sold a major chunk of this gold investmen...Read More
At times last week, I felt like I was stuck in the waiting room in Hell...I personally spent hours watching cable news - something I usually try to avoid at all costs - as John King played with his "Magic Wall" like a sugared-up child who just got his first iPad. Eventually, the pundits just ran out of things to say and were basically sitting around asking each other how much sleep they got.I almo...Read More
Nov 18, 2020 Guest(s): Willem Middelkoop Founder & CIO, Commodity Discovery Fund The commodity cycle is currently at a 100-year low when compared to the S&P 500, according to Willem Middelkoop, founder of the Commodity Discovery Fund."When you can enter a market as an investor at the 100-year low valuation, you know you're buying near the bottom," Middelkoop said. "We've seen a strong rise o...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 18.Please click...Read More
Shanghai nickel premiums fell in the week to Tuesday November 17 while rates on briquette in the United States again succumbed to pressure from intense competition for business in the spot market.Chinese premiums fall as arbitrage losses worsenDeclining spot offers push US briquette premium lowerEuropean buyers see ample supply; ride out LME volatilityShanghai full-plate premiums fall, their first...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
Fastmarkets has identified a necessary clarification to the magnesium oxide specification for its UG2 chrome ore index.Fastmarkets has updated the magnesium oxide (MgO) specifications of its weekly price index for UG2 chrome ore to match the quality listed in the index's pricing notice.The MgO previously, and erroneously, was listed in the specifications at MgO max 0.15% although the correct quali...Read More
Under the new agreement Kaz will build part of a port at Cape Nagloynyn in Chaunskaya Bay and finance half of a 428km road leading from the port to the mine site.Read More
News of the supply disruption has boosted an already strong zinc price to multi-year highs.VZI said 10 people were trapped at the bottom of the South Pit at Gamsberg following a geotechnical failure in the early hours of Tuesday.Eight had been safely rescued, the company said yesterday."We are doing everything possible to safely rescue the two remaining trapped colleagues," business head Laxman Sh...Read More
Vancouver, BC - Select Sands Corp. (TSX-V:SNS | OTCQX: SLSDF) (the "Company") announced operational and financial results for Q3 2020, and the filing of its financial statements and associated management's discussion and analysis on www.sedar.com. All dollar references in this release are in U.S. dollars.THIRD QUARTER 2020 AND RECENT HIGHLIGHTSSold 49,248 tons of frac and industrial sand durin...Read More
PHOENIX - 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company") today announces it plans to issue its fiscal third quarter 2020 earnings press release on Monday, November 30, 2020, after U.S. markets close, commensurate with the filing of its unaudited financial results.The Company will also host a conference call and webcast on Monday, November 30, 2020 at 5:00 p.m. ET to r...Read More
Commodities trader and producer Glencore is starting production from the Mokala manganese ore mine in South Africa, an industry source has informed Fastmarkets.The mine will produce semi-carbonate 37% manganese ore, and was expected to ramp-up production to its full capacity of 1.5 million tonnes per year around the start of...Read More
The price paid for a lower grade of high-carbon ferro-chrome in Europe fell in the week to November 17 amid weak demand while the higher grade market was stable with some producers preferring not to be active, sources said.Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe price assessment fell by 1 cent or 1.3% to $0.75-0.82 per lb Cr on Tuesday November 17.T...Read More
An overview of the consumer electronics markets and their latest price moves.Fastmarkets has reworked the market reports...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
Turkish steel mills have remained out of the market for a third consecutive day this week although offer prices have now moved higher than in previous deals, sources told Fastmarkets on Wednesday November 18.Turkish steel mills extended their silence in the deep sea scrap market for a third day, but offer prices were reported to have jumped in anticipation of the next purchases....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers The ferro-titanium spot price in Europe increased, marking 13 weeks of persistent increases in line with scrap tightness and renewed demand from consumers in the steel sector.Suppliers reported deals done, or heard, for more than 500 tonnes of standard-grade ferro-titanium for prompt shipment, with a couple o...Read More
Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More