Spot payables for cobalt hydroxide consolidated at four-month highs last week, with support from sellers' continued cautious approach to additional sales outside long-term agreements. Fastmarkets' cobalt hydroxide payable indicator min 30% Co, cif China held at 66-68% on Friday July 10, its highest level since March 11 (taking the mid-point of the range). Short-lived border closures in Africa, on...Read More
Share this articleTORONTO - Yamana Gold Inc. says the Canadian Malartic mine in Quebec has ramped up production more quickly than anticipated following a COVID-related shut-down.The mine, one of North America's largest gold producers, milled more than 60,000 tonnes per day of ore in both May and June, partially offsetting the down time and ramp-up in production that began April 15 after the pro...Read More
Hot-rolled coil prices in the United States rose slightly on Monday July 13 while demand remained flat and market participants shared mixed outlooks.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.58 per hundredweight ($471.60 per short ton) on Monday, a 1.4% increase from $23.25 per cwt on Friday July 10 but 2% lower than $24.06 per cwt a week earlier on July 6.I...Read More
Dark Horse Resources Limited (ASX: DHR) is a project generator company focused on tier 1 Gold exploration projects. We learned from David Mason, Managing Director and CEO of Dark Horse Resources, that they have been working in Argentina for several years, and recently have decided to implement a new corporate strategy to find new gold projects in alternative jurisdictions. As a result of their sea...Read More
In the wake of COVID-19, gold has soared in popularity as an investment asset.According to the World Gold Council, gold-back ETFs realized record annual inflow during the first half of 2020. Meanwhile, some traders see gold penny stocks as the next big Robinhood user fad. Crescat Capital's global macro analyst Otavio Costa says, "Wait until the Robinhood traders learn about the gold and silver pen...Read More
Domestic prices for steel hot-rolled coil moved up across Europe in the week ended Friday July 10, supported by the continuing lack of competitive import offers.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?404.00 ($456.48) per tonne on July 10, up by ?,?2.00 per tonne week on week and by ?,?6.08 per tonne month on month.Friday's index was base...Read More
Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Monday July 13, but prices were likely to move upward supported by the lack of competitive imports, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?403.13 ($453.24) per tonne on Monday, down by just ?,?0.87 per tonne from ?,?404.00 pe...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index gained 15.15 points and rose 1.6% to close at 971.87.MACD jumped 2.48 points higher to 1.01. RSI rose 2.76 points to 61.04. Should it move much higher then RSI breaks a strong resistance area that has held it in check most of the last few months.Support is at 900 and...Read More
Every weekend I publish the list of stocks that were the big movers up and down the INK Edge rankings in the INK Chat stock ideas channel. Over the past week, two junior gold producers, Calibre Mining ( CXB) and Galiano Gold (GAU), are the top movers up the INK Edge rankings. Click here for the full discussion and report.INK Edge July 11 movers via INK ChatIf you have not yet registered for INK...Read More
Demand for steel rebar in Russia's Central Federal District around Moscow was reported be good in the week to Monday July 13, driven by a recovering construction sector and with prices being largely stable, sources have told Fastmarkets.Construction activity in the region was reported to be strong, with traded rebar volumes being "healthy," sources said."Construction may be not as good as it was l...Read More
An earthquake in Tangshan failed to affect China's rebar prices on Monday July 13, with prices gaining due to bullish sentiment caused by rising futures prices.Domestic Eastern China (Shanghai): 3,600-3,620 yuan ($514-517) per tonne, up 30 yuan per tonneSources told Fastmarkets that sellers in Shanghai had raised their prices based on futures gains. However, physical trading was sparse with f...Read More
There was limited spot trade in the Singapore rebar import market this past week due to the slow resumption of downstream construction activity and high inventory levels in the country, market sources told Fastmarkets."Many steel fabricators have months of inventories still on hand and are not looking to purchase anything," a buyer source in Singapore told Fastmarkets on Thursday July 9.Turkish an...Read More
Here are five Fastmarkets stories you might have missed on Monday July 13 that are worth another look.Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil's securities commission CVM on July 13.Russian multi-metal miner Nornickel reported a second Arctic fuel spill durin...Read More
Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil's securities commission CVM on Monday July 13.Vale will supply metallic and steelmaking solutions with low greenhouse gas emissions to both steelmakers, it added. The final approval for the new venture is subject to an...Read More
The UK market for deliveries of steel scrap to domestic consumers has dropped month-on-month in line with demand, with steelmakers positioning their smelting schedules for the seasonal summer slowdown.But there was enough support to avoid significantly steeper losses, market sources told Fastmarkets on Monday July 13.Consumers of steel scrap in the UK were expected to cut production in late July a...Read More
Here are five Fastmarkets stories you might have missed on Monday July 13 that are worth another look.Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil's securities commission CVM on July 13.Russian multi-metal miner Nornickel reported a second Arctic fuel spill durin...Read More
Federal Reserve Chair Jerome Powell and San Francisco Fed President Mary Daly both recently denied that the Federal Reserve's policies create economic inequality. Unfortunately for Powell, Daly, and other Fed promoters, a cursory look at the Fed's operations shows that the central bank is the leading cause of economic inequality.The Federal Reserve manipulates the money supply by buying and sell...Read More
Dear Friend of GATA and Gold:Surreptitious intervention in the gold market by the U.S. government is the target of legislation introduced in the House of Representatives by Rep. Alex X. Mooney, R-West Virginia.In a letter to House colleagues seeking support for his Gold Reserve Transparency Act, H.R. 2559, Mooney writes: "Because there are concerns the U.S. Treasury may have sold, swapped, lease...Read More
Strengths? The best performing precious metal for the week was silver, up 4.25 percent. Investors poured money into silver-backed ETFs this week as the precious metals trade begins to increase in scope. Spot gold prices reached the key $1,800 an ounce level. This milestone could help push the metal closer to its all-time high above $1,900. Bloomberg notes that gold futures traded alm...Read More