Lithium Power International (ASX: LPI) is a pure-play lithium company focused on the development of Chile's next high-grade lithium mine. The Maricunga JV, in which LPI holds a 51% interest, is the highest quality, pre-production, lithium brine project, in South America and has one of the world's highest-grade lithium resources at 1,167 mg/l lithium and 8,500 mg/l potassium. The 2019 JORC and NI 4...Read More
The European Investment Bank (EIB) has granted a ?,?125 million ($140 million) loan to Belgium-based global material technologies and recycling group Umicore to partially finance the construction of a battery cathode material manufacturing facility in Poland.The EIB loan will cover approximately half of the project costs in the initial phase, with cathode materials produced supplying battery manuf...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 INK CIN took a spirited run at the 1,000 level but ran into heavy resistance at 992-993. Ultimately, it was then yanked downward along with correcting US markets and fell 40.95 points to close at 930.31 for a loss of 4.2%.MACD sunk 8.35 points to 0.43. A week after establis...Read More
Here are five Fastmarkets stories you might have missed on Monday June 15 that are worth another look.Jaguar-Land Rover will cut up to 1,100 employees in the UK, while posting a pre-tax loss amid the coronavirus pandemic, it announced on June 15 in its financial results.Latin American steelmakers were operating at 42% capacity in April after at least seven blast furnaces were halted to balance sup...Read More
Workers at Tata Steel IJmuiden in the Netherlands will continue industrial action after negotiations with the company's management fell through, the trade union FNV Metaal said on Sunday June 14.A strike on the night shift started on Sunday June 14 at 22:00 local time and affected pickling, cold rolling, an annealing furnace, continuous annealing lines 11 & 12 and tinning lines."The entire pr...Read More
Exporters of hot-rolled coil in Turkey and the Commonwealth of Independent States have been redirecting volumes to Asia from their traditional markets such as Europe.Steel demand and prices in Asia, notably China, started to recover in April after a slump in consumption caused by the Covid-19 pandemic. This revival happened earlier than in the other regions, where sellers in both Turkey and the CI...Read More
Special bar quality (SBQ) steel prices in the United States have again risen due to increased raw material costs, but demand remains weak, industry participants told Fastmarkets. On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US rose to $33.25 per hundredweight ($665 per shor...Read More
Strengths? The best performing precious metal for the week was gold, up 2.78 percent. After its 1.7 percent drop last Friday, gold rose back above $1,700 an ounce this week as investors took advantage of buying the dip. Commerzbank AG analyst Carsten Fritsch told Bloomberg that gold price declines are still seen as a buying opportunity. "Central banks are not expected to revers...Read More
- Dave Kranzler, Mining Stock Journal"No one ever loses equity in a bankruptcy case," U.S. Bankruptcy Judge David Jones said during a status conference in the J.C. Penney case last month. "Equity gets lost long before the case is filed."Hertz filed Chapter 11 under the U.S. Bankruptcy Code after the market closed on May 22nd. The filing was well telegraphed. The next day the stock took a cliff...Read More
Investment manias are nothing new on Wall Street, but this time the heavy betting is on the mania itself. Speculating on volatility is the latest fad, and it is metastasizing so quickly that in just two short months wagers that the stock market will grow even crazier have become the actual cause of its craziness. The bets mainly involve derivatives, including options and ETFs that are ti...Read More
Steve St. Angelo, SRSrocco Report The U.S. Shale Oil Industry is in serious trouble, even without the negative impacts of the global contagion. While it's no secret that shale oil wells suffer high decline rates, what is taking place in the country's largest oil field is quite alarming. The rate at which shale oil production is declining in the Permian should worry investors. In just three...Read More
We are on the horns of a dilemma, caught between the Scylla and Charybdis, a rock and a hard place, the devil and the deep blue sea, the anvil and the hammer. The walls are closing in. We're in a tight spot.All those metaphors (I could list more but will spare you) fit the present economic situation (some are now calling the omni-crisis) and I think will also describe the 2020s.Thanks to forces...Read More
Egypt's ministry of trade and industry plans to raise import duties on steel billet and rebar, Egyptian sources told Fastmarkets on Monday June 15.Officials from the ministry will meet steel producers this week to discuss the duty changes, the sources said.In April this year, the Egyptian ministry of trade and industry postponed...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow increased in the week to June 15, supported by improving demand and bullish exports, sources told Fastmarkets on Monday June 15.Sentiment in the rebar market in the region improved amid rising construction activity and an uptrend in exports, sources said."Construction sites have gradually re-opened since mid-M...Read More
Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Luf...Read More
As the global financial crisis spreads and the Fed prints more and more money to try to save the U.S. economy, the average person is wondering how can they avoid being caught in the next crash. First, you must understand that the mess the U.S. is in has been happening since 2008. Mortgage-backed securities were the pin that popped the bubble in 2008, and the pin today is the coronavirus-not the ca...Read More
"It's not just enough to win the war against a global depression; we have to secure a peace of high, inclusive growth."Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a memb...Read More
Goldman Sachs released a new report which finds that retail investors are beating hedge funds this year. Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" to discuss.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world'...Read More
Our friend Bix Weir returns to help break down the Comex silver scam, the Democrats political scam, and the [D]en of thieves.Bix Weir has 30 years' experience in the financial industry with various fortune 500 companies. He is the creator of the "Road to Roota Theory" and his commentary is published at www.RoadtoRoota.com. Bix has dedicated his efforts over the last 15 years to exposing the long t...Read More