Publisher's Note: Oil is the cheapest it's been in years. That means it's time to start looking at it from a contrarian perspective. I've stayed away from oil for nearly eight years. I told you shale companies would go bankrupt. Over 200 oil companies have gone bankrupt since 2015. Oil prices went negative this year. It's time to start looking around for upside. You can start with this interview...Read More
Hammerdown project Credit: Maritime Maritime Resources has started an initial 10,000-metre diamond drill program at its 98-sq.-km Hammerdown gold project in Canada's Newfoundland and Labrador province. The program will focus on testing prospective areas for new gold discoveries, growing the existing resource inventory and optimizing the mine plan outlined in a preliminary economic assessment (P...Read More
The modern American caste system is rarely this exposed.While the markets hover 10% away from all-time highs, everything else is in a downward spiral.One in four American workers are collecting, or still simply trying to file for, unemployment.One in three renters didn't make a full payment last month. It will be worse this month. Plus eviction and mortgage protections soon expire and courts are o...Read More
Mikko Tepponen Credit: FLSmidth Mikko Tepponen is now FLSmidth's new chief digital officer (CDO) and will focus on accelerating the digital transformation of the business and its portfolio of digital offerings to optimize operations for customers in the mining industry.Tepponen has prior experience with transformation journeys for other industries and a track record of employing digital solutio...Read More
Metso My Plant Planner Credit: Metso. Metso has introduced a three-dimensional crushing and screening plant configurator for the mining and aggregate industries, which allows users to design more productive and efficient plants through real-time insights. The design and simulation tool, called My Plant Planner, is available on Metso's website and is free to use."We are really excited about My Pl...Read More
Ore-loaded train taken from Itabira Minas Gerais, Brazil. Stock image. Chinese iron ore futures surged on Monday, marking the biggest intraday percentage gain since July 2019, as supply concerns deepened after the country's second-biggest iron ore supplier Brazil shut down Vale's Itabira complex due to coronavirus concerns.A Brazilian judge ordered the closure of the Concei????o, Cau?? and Periqu...Read More
This past month has seen silver prices moving up from around $15 to $18 an ounce. This $3 or so dollar move has rallied some of the silver juniors and also some majors to new 52 week highs. Stocks like Impact Silver - IPT saw it's stock rally from 40 cents to the high 70 cent range. Almost a double. Silver One - SVE stock cracked the old 52 week high and made a new high. Majors like First Majestic...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
China is leading the world in a V-shaped recovery from the aftermath of the Covid-19 pandemic, with other countries slower to recover but showing signs of green shoots, according to the chief financial officer of Alcoa. William Oplinger told the 11th annual Deutsche Bank Global Industrials and Materials summit that China's industrial production, vehicle production, commercial starts and food and d...Read More
The three-month tin price on the London Metal Exchange was the standout performer at the close of trading on Monday June 8, keeping well supported throughout the afternoon amid falling exchange stocks, while aluminium futures breached $1,600 per tonne at the close for the first time since March 19.Tin's underlying price closed at $16,665 per tonne on Monday afternoon, up from an intraday low of $1...Read More
Jack ChanPosted Jun 8, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal. Short-term signals can last for days and weeks and are more suitable for traders.Speculation is at levels of previous tops.Speculation is dropping.Our ratio is on SELL signal.GLD has resistance at 170.$HUI...Read More
China is leading the world in a V-shaped recovery from the aftermath of the Covid-19 pandemic, with other countries slower to recover but showing signs of green shoots, according to the chief financial officer of Alcoa. William Oplinger told the 11th annual Deutsche Bank Global Industrials and Materials summit that China's industrial production, vehicle production, commercial starts and food and d...Read More
The main workers' union representing employees of Cobre Panam??, Utramipa, is pressuring Panamanian authorities to reopen the largest copper mine in Central America as soon as possible due to the suspension of labor contracts in late April, Fastmarkets heard."We demand an immediate reopening of the mine," a union announcement read on Sunday June 7. "We have already had four fortnights without pay....Read More
Portside manganese ore prices in China continued to slide in the week to Friday June 5 in response to some traders lowering their offer prices amid cautious buying from domestic alloy smelters and weak market sentiment.Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 44.90 yuan ($6.34) per dry metric tonne unit (dmtu) on June 5, equivalent to $5.47 per dmtu...Read More
The S&P 500 closed up 2.62% on Friday, the FTSE 100 rose 2.25% and Germany's DAX gained 3.36%.Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
Bearish sentiment strengthened in China's silicon export market after plants in southern China gradually restarted operations amid a weak overseas demand, sources said.Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,370-1,430 per tonne on Friday June 5, down by $20 per tonne (1.4%) from $1,390-1,450 per tonne a week earlier. China's silicon export price stre...Read More
The company has been providing opencut mining services at Byerwen, a joint venture between Qcoal Group and JFE Steel, since the mine opened in November 2017.The new contract expands production to 10 million tonnes of hard coking coal per annum from 6Mtpa from now until November 1, 2023.There is also an option to extend the contract for a further two years after this period, which, if exercised, co...Read More
The imported deep-sea scrap prices in Turkey have continued to move up with more deals heard in the market, sources said on Monday June 8.Turkish steel mills have been active in the deep-sea scrap markets for the past couple of weeks since the easing of Covid-19-related restrictions and improving domestic demand for steel products in Turkey.Three new scrap cargoes were heard late on Frid...Read More