The precious metals sector was likely to decline,and it did exactly that. And based on what we just saw, it’s likely to declineeven more.Once again, the situation yesterday and so fartoday developed quite in tune with what we wroteyesterday, so today’s analysis will take form of a broad update.Let’s take a look at the GLD ETF. In yesterday’s and Monday’s analyses, wed...Read More

Global aluminium billet premiums were unchanged but for a drop in Thailand, with spot demand battered due to the Covid-19 pandemic.Europe begins third quarter negotiationsUS premium static in lifeless spot marketBrazil premium flat amid weak spot interestWeak demand sinks premium in ThailandQ3 negotiations in Europe start with offers around $280-300/t Market participants throughout Europe have beg...Read More

The most important measure for an economy, its recoveryor advancement is employment - that is, the availability of good-paying jobs.  When citizens have jobs, they earn an income withwhich they can pay for their needs, and pay taxes to the government for itsneeds.  So jobs and income, are the keydeterminants of a healthy, modern consumer-driven economy.  Over the last several decade...Read More

The Covid-19 pandemic has highlighted the importance of regional supply chain security for critical materials like cobalt, the president and chief executive officer of First Cobalt said. According to Trent Mell, the increasing trend toward electric vehicles (EVs) has added to the impetus to ensure that a reliable and ethical supply of refined cobalt is available for use in batteries. "If the Covid...Read More

The uptake of batteries for energy storage is expected to soar between 2020 and 2030 in Europe, supporting the growth of flexible electricity assets while new renewable capacity ramps up in its key economies.Investments in green mobility and renewable sources of electricity are high on the agenda of the EU member states, to comply with energy transition targets.With sales of electric vehicles (EV)...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday June 5.China The domestic market has stabilized while immediate availability of material has continued to be tight. The export market was unchanged, with an absence of trading activity....Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 272,19653,16237,007108,654365,277417,857455,446 Change from Prior Reporting Period -15,9522,928-2,944-23,323-41,022-42,219-41,038 Traders 20260715556284161 Small Speculators LongShortOpen Interest 57,88820,299475,745 -1,410-2,591-43,629 non reportable pos...Read More

The gold miners' stocks just rolled over into a correction, raising concerns about the staying power of their massive post-panic upleg. These higher prevailing gold prices have driven very-strong fundamentals at the gold miners. But they are entering the seasonally-weak summer doldrums. And current sentiment and technicals play major roles in governing when uplegs remain healthy or ready...Read More

"Well, now that we have seen each other," said the unicorn, "if you'll believe in me, I'll believe in you." - Lewis Carroll, "Through The Looking Glass""The greatest trick the devil ever pulled was convincing the world he didn't exist." - Keyser S?ze, "The Usual Suspects"By: Dave KranzlerThe employment report is a complete fraud. But as long as the market and it's army of mainstream story-tell...Read More

By: Ira EpsteinGold is in a correction, but strong supports in the $1,600's:Read More

The government of South Africa has eased the country's lockdown, yet the continued threat of Covid-19 will dampen the recovery in chrome and manganese ore supply.The government of South Africa hopes its miners will ramp up production and bolster the flagging South African economy following the lowering of the nationwide alert on Monday June 1, easing restrictions to combat the Covid-19 virus. "Und...Read More

How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More

The Covid-19 pandemic is likely to lead to another casualty: the mega mine. The volatility created by crises like Covid-19 is adding a layer of uncertainty to the development of large-scale projects that take a decade or more to progress and are highly capital intensive, according to Tom Albanese, the former chief executive officer of Rio Tinto.This means that mining projects are likely to be deve...Read More

New Day Aluminum Holdings, the parent company of Noranda Bauxite, Noranda Alumina, and Niche Industrial Chemicals, on June 2 announced the appointment of John Habisreitinger as chief operating officer.New Day produces bauxite for metallurgical and non-metallurgical applications in Jamaica, and...Read More

Chinese steelmakers' changing appetites for high-quality iron-ore blast furnace pellets prompted further developments in the transparency and maturity of the pellet segment, Fastmarkets understands.The iron ore pellet segment has long been touted as the hardest to commoditize, primarily due to differences in product valuations between different global steelmaking hubs, sources said. Most term cont...Read More

Import prices of steel billet in China have risen to the $400-per-tonne-cfr mark this week on steady demand amid a domestic market strengthened by restrictions imposed on blast furnaces in the country's steelmaking hub of Tangshan.Local authorities in Tangshan, in northern China's Hebei province, have instructed mills to cut their blast furnace production rates by 20-50% in June to improve air qua...Read More

The uptake of batteries for energy storage is expected to soar between 2020 and 2030 in Europe, supporting the growth of flexible electricity assets while new renewable capacity ramps up in its key economies.Investments in green mobility and renewable sources of electricity are high on the agenda of the EU member states, to comply with energy transition targets.With sales of electric vehicles (EV)...Read More

The three-month copper price on the London Metal Exchange rose by 2.3% day-on-day to close at $5,690 per tonne on Friday June 5, after a strong day of trading with a turnover of more than 23,300 lots.LME three-month copper had its best week since September 2018 in the week ended June 5, reaching a high of $5,698 per tonne on Friday. On Monday, it had opened at $5,400 per tonne, but on Friday it op...Read More

Seaborne premium hard coking coal prices rose by more than $2 per tonne on Friday June 5 due to recent active trading. Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.99 per tonne, up $2.24 per tonne Premium hard coking coal, cfr Jingtang: $116.52 per tonne, up $2.14 per tonneHard coking coal, fob DBCT: $87.58 per tonne, up $0.50 per tonneHard coking coal, cfr Jingtang:&...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Consolidation needed after technical gainsDespite structural oversupply, the London Metal Exchange aluminium price has enjoyed a technical rebound since the mid-May lows, which was in line with our short-term forecasts. But technical indicators now look overbought and the price must consolidate its recent gai...Read More