Chinese cobalt metal prices fell to a seven-month low on Wednesday July 4, with buyers taking a step back to watch international prices that have continued to fall in recent weeks. Meanwhile, the gap between suppliers' expectations and buyers' bids widened further after local futures prices dipped to a fresh annual low. Metal Bulletin's spot Chinese domestic cobalt metal price dropped to 530,...Read More
Centerra Gold Inc. (TSX: CG) hasasked the government of British Columbia for more water for the Mount MilliganMine, saying throughput may be curtailed without a greater supply. Centerra hasasked the BC Environmental Assessment Office to amend to a certificate toprovide additional short-term water sources through 2020 and to initiate thedevelopment of a longer-term water supply plan for subsequent...Read More
There were some positive expectations ahead of the opening of Tuesday's trading session, but then stocks reversed their intraday advance and closed lower. The broad stock market continues to trade within a short-term consolidation. Which direction is next? There are still two possible medium-term scenarios.The U.S. stock market indexes lost 0.5-0.9% on Tuesday, as investors' sentiment worsened onc...Read More
NEW YORK (Reuters) - The dollar fell to three-week lows on Thursday, as the euro gained on strong German industrial orders, while data showing jobs rose less than expected in June plus nagging concerns about global trade also reined in the greenback’s recent rally.Mazen Issa, senior FX strategist, at TD Securities in New York said U.S. economic prospects remain upbeat compared with the rest...Read More
LONDON (Reuters) - The U.S. Navy stands ready to ensure freedom of navigation and free flow of commerce, a spokesman for the U.S. military’s Central Command said on Thursday, after Iran warned it will block oil shipments through the Strait of Hormuz.Iran has threatened in recent days to close the strait, a vital route for world oil supplies, if Washington tries to cut Tehran’s exports....Read More
The Turkish deep-sea scrap import market remained silent on Thursday July 5, due to continuing weak demand in the country's finished steel markets, according to sources.After finishing bookings for July deliveries, Turkish steel producers have gone quiet as demand for finished steel in both the local and export markets has failed to bounce back after the country's presidential and general election...Read More
(Reuters) - U.S. stocks ticked higher on Thursday on signs that Washington may dial back on plans for tariffs on European cars, soothing some worries about trade even as China looked set to face U.S. tariffs.Technology stocks led the gains, with chipmakers Qualcomm, Micron and Qorvo among the top gainers. Micron said a temporary ban on some sales in China would hurt its quarterly revenue by just 1...Read More
Exploring the Boreal Metals Tynset VMS Project in Norway. Source: Boreal Metals Corp.Boreal Metals Corp. [BMX-TSXV] has commenced fieldwork and exploration programs at its Tynset polymetallic VMS (volcanic massive sulphide) project in Norway. The Tyset Project is located in the historic Roros district, Norway's most prolific base metal district."We are excited to announce the commencement of the T...Read More
Drilling at Allegiant Gold's Eastside gold project near Tonopah, Nevada. Source: Allegiant Gold Ltd.Allegiant Gold Ltd. [AUAU-TSXV] on Thursday July 5 announced a private placement financing and a strategic investment by Goldcorp Inc. [G-TSX; GG-NYSE]. Proceeds will be used to fund the company's drilling programs, mainly in Nevada, Allegiant said.Allegiant shares rallied on the news, rising 5.8% o...Read More
LONDON (Reuters) - When Donald Trump visits Britain next week, Prime Minister Theresa May will have to face a harsh reality: Brexit makes Britain more dependent than ever on an alliance with the most unpredictable U.S. president in living memory.Sandwiched between a NATO meeting and a summit with Russia’s Vladimir Putin, Trump’s first visit to Britain as president comes at one of the m...Read More
(Reuters) - The Trump administration wants to fire up development of the U.S. offshore wind industry by streamlining permitting and carving out vast areas off the coast for leasing - part of its ‘America First’ policy to boost domestic energy production and jobs.The Europeans have taken note.The drive to open America’s offshore wind industry has attracted Europe’s biggest r...Read More
(Reuters) - Wall Street opened higher on Thursday, as signs that Washington may ease back on plans for tariffs on European cars drove gains for automakers, offsetting further signs of tension with China.The Dow Jones Industrial Average rose 111.00 points, or 0.46 percent, at the open to 24,285.82. The S&P 500 opened higher by 10.97 points, or 0.40 percent, at 2,724.19. The Nasdaq Composite gai...Read More
WASHINGTON (Reuters) - U.S. private payrolls rose less than expected in June while the number of Americans filing for unemployment benefits unexpectedly rose last week, but that did little to change perceptions that labor market conditions continued to tighten.The labor market is viewed as being near or at full employment, with the jobless rate at an 18-year low of 3.8 percent. The unemployment ra...Read More
Comex copper prices crashed to a one-year low on Thursday morning in the United States with market sentiment in the red metal affected by fears of an escalating trade war as well as thin trading. Copper for September settlement on the Comex division of the New York Mercantile Exchange tumbled 6.40 cents or 2.2% to $2.8530 per lb. Earlier, the contract touched $2.8370, the lowest since July 2017. T...Read More
(Kitco News)- Goldprices are holding on to modest gains despite weaker-than-expected privatesector employment growth, according to the latest data from payrolls processingfirm ADP.Thursday, ADP said that 177,000 jobs were created in June. The report missedestimates as consensus forecasts were looking for gains of 190,000 jobs.Goldwas seeing positive gains ahead of the report, and is holding steady...Read More
* Federal Reserve June minutes due at 1800 GMT * Spot gold may retrace to support at $1,248/oz - technicals * Dollar falls to one-week low (Adds comment on platinum, updates prices)By Eric OnstadLONDON, July 5 (Reuters) - Gold drifted lower on Thursdaydespite a weaker dollar as investors worried that U.S. FederalReserve minutes would highlight the prospect of further ratehikes. Spot gold was down...Read More
GODERICH, Ont. - Unifor says striking workers at a salt mine in Goderich, Ont., are now blockading an access road to the site to express frustration over the company's use of replacement workers.The workers at Compass Minerals on the eastern shore of Lake Huron have been off the job since April 27.Unifor alleges the company has been flying in replacement workers from New Brunswick to break the str...Read More
Three-month base metals prices on the London Metal Exchange broadly continued their recent run of weakness on the morning of Thursday July 5. Nickel prices were unchanged, while the rest of the complex was down by between 0.3% for copper ($6,382 per tonne) and 0.7% for aluminium ($2,089 per tonne). Volume has been above average with 8,855 lots traded as at 7:17am London time.This follows a general...Read More
BERLIN (Reuters) - German Chancellor Angela Merkel said on Thursday she would back lowering European Union tariffs on U.S. car imports, responding to an offer from Washington to abandon threatened levies on European cars in return for concessions.“When we want to negotiate tariffs, on cars for example, we need a common European position and we are still working on it,” Merkel said.U.S....Read More
Cobalt trade log including business, bids and offers reported to Metal Bulletin. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Metal Bulletin prices Click here for Metal Bulletin's price assessment for low-grade cobalt, in-warehouse, $ per lb Click here for Metal Bulletin's price assessment for high-grade cobalt, in-warehouse, $ per lb I...Read More