Under revised terms, Osisko has immediately advanced US$2.5 million of the remaining deposit for the metals stream, with a further $7.5 million to follow over the next 12-18 months based on achieving milestones.In exchange for the accelerated payment schedule, Osisko has reduced the total deposit payable from $40 million to $35 million.The stream percentage will remain 18.5% of gold output capped...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday June 19. China The UG2 chrome ore trading activity dipped during the week, with participants waiting for the release of July ferro-chrome tender prices to gauge market direction,...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday June 19. China Seaborne manganese ore prices continued to slide amid weakening sentiment. Portside ore prices climbed in response to mounting buying appetite from alloy smelters at the start of the session,...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort277,39553,04746,087110,922368,942434,404468,076Change from Prior Reporting Period 13,423-2,312-55780715,37013,67312,501Traders20263735256285165 Small Speculators LongShortOpen Interest 55,15921,487489,563 2291,40113,902 non reportable positionsChange from the previous reporting p...Read More
Gold's powerful post-stock-panic upleg hasn't enjoyed buying support from the gold-futures speculators. These influential traders often drive and even dominate major gold-price trends. But they've been subtly selling into gold's sharp recent rally. Their dogged skepticism is actually very bullish for gold in coming months. Gold-futures speculators are amassing big gold-futures-buying f...Read More
- Gary TanashianGold Stock Seasonal AverageThe HUI Gold Bugs index has over the last 2 decades (encompassing both bull and bear markets) tended to bottom in July per stockcharts.com's data for the index. A seasonal average is not a directive, but it is a (+/-) guide to be factored. Last year gold stocks bottomed in May as we caught what would be a violent upswing. This year I expect the low t...Read More
By: Ira EpsteinGold daily bar-chart, you can see a wedge formation:Read More
Use a buy on sharp dips strategy today in gold and silver for next week. Traders will start taking positions for third quarter. I am bullish on gold and silver in July to September period. Only crashing risk (to gold price) is US June nonfarm payrolls on 3rd July comes in positive. 4th July, American Independence day will start the US summer holiday which will end on second week of September. CO...Read More
Spot payables for cobalt intermediates held steady week on week, although buying interest has thinned compared with the beginning of June and May's restocking. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China was assessed at 65-66.5%of the standard-grade metal price (low-end) on FridayJune 19, unchanged since June 5.The spot market has been less busy since the start of J...Read More
The Attorney General of Switzerland has begun criminal investigations into Glencore's business practices in the Democratic Republic of the Congo (DRC), the company said on Friday June 19.Baar, Switzerland-headquartered Glencore said it had been informed today that the investigation had commenced due to "failure to have the organizational measures in place to prevent alleged corruption," it said."G...Read More
There was a noticeable dip in trading in the Turkish deep-sea markets in the week ending Friday June 19 although prices remained firm. Slower buying activity was also noted on the Taiwan, Vietnam and Indian markets amid the possibility of lower prices. The US market was the expectation to this. Purchases begin to slow on Turkish marketUS export market reports deals from West and East coastVi...Read More
German diecaster DGH Group has begun insolvency proceedings, sources close to the matter told Fastmarkets on Friday June 19.Fastmarkets understands that the insolvency action pertains to three group companies - DGH Heidenau, DGH Hof and DGH ZIT - with appointed insolvency administrator Franz-Ludwig Danko currently considering potential restructuring options.The company, headquartered in Donha, Ger...Read More
Turkish steel producers continued to stay away from the deep-sea scrap market at the end of the week in anticipation of a downturn in prices, sources told Fastmarkets on Friday June 19.Steelmakers in the country have been quiet most of the week, having booked only two deep-sea cargoes on Monday, with most of the market participants believing that prices have reached a peak.On Monday...Read More
Markets were mixed again this morning, Friday June 19, while participants wait to see if second waves of Covid-19 are going to derail the V-shaped recovery in asset markets.Needless to say the V-shaped recoveries in prices seem to be ignoring the current depressed state of demand and the forecasts for 2020. Asian-Pacific equity markets were mainly firmer this morning, while pre-market major wester...Read More
Nornickel has completed the first phase of cleaning a massive oil spill in its key mining division, an incident it recently told investors signaled no immediate danger to its mines."We have collected more than 90% of the spilt fuel and 70% of contaminated soil, thus winding up the first stage of the long-term plan to eliminate the consequences of the HPP-3 incident," Sergey Dyachenko, first vice p...Read More
Spot payables for cobalt intermediates held steady week on week, although buying interest has thinned compared with the beginning of June and May's restocking. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China was assessed at 65-66.5%of the standard-grade metal price (low-end) on FridayJune 19, unchanged since June 5.The spot market has been less busy since the start of J...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The Chinese domestic spot lithium price fell further on Thursday June 18 with thin downstream buying leading to more pressure and lower prices, while prices in the rest of the world kept flat, sources said.China's battery-grade lithium carbonate prices fell again after a week of stabilization.China's lithium hydroxide market declined due to quiet buying.Asian battery-grade lithium prices range bou...Read More
Flat steel import prices increased week on week in South America while the continuing global uptrend made offers from China, Japan and Brazil more expensive.Buyers were starting to reject the current price increases, however, due to end-user demand recovering largely at a slow pace after countries enforced restrictions to limit the spread of Covid-19. Some previously reported offers were being rev...Read More