The Monday Market Minute Global stocks rally as U.S. jobs report provides solid backdrop for equity market bulls.China's CSI notches biggest one-day gain in nearly two years as risk appetite returns.U.S. dollar eases as investors trim bets on faster Fed rate hikes, but bond market signals still a worry.European stocks book solid early gains, Wall Street futures point to robust start to the week...Read More
BEIJING (Reuters) - China's foreign exchange reserves unexpectedly rose in June, bolstered by an increase in the value of its U.S. Treasury holdings in an otherwise volatile month for Chinese markets, which were battered by fears about a Sino-U.S. trade war.Reserves rose $1.51 billion in June to $3.112 trillion, compared with a drop of $14.23 billion in May, central bank data showed on Monday. Eco...Read More
Lead-zinc producer Recylex has started the hot commissioning phase of the new reduction furnace at its lead smelter at Nordenham in northern Germany, operated by Weser-Metall.The hot commissioning phase is used to test furnaces before they go into production mode, and is expected to last for a few weeks before ramping up to commercial levels of production in the third quarter of 2018, the...Read More
LONDON (Reuters) - The Chinese yuan rebounded and the euro rose to its highest since June 14 on Monday as investors bought riskier assets following favourable U.S. jobs data last week and evidence that global trade tension has not yet slowed economic momentum.Investors appear to be ignoring the worsening trade conflict between the United States and China, preferring to focus on decent economic num...Read More
BEIJING (Reuters) - China's commerce ministry said on Monday that it will use funds collected from tariffs charged on imports from the United States to help ease the impact of U.S. trade actions on Chinese companies and their employees.The commerce ministry also said in a statement it will encourage companies to increase imports of products such as soybeans and vehicles from other markets.Beijing...Read More
Vancouver, BC - Peekaboo Beans Inc (TSX-V:BEAN | OTCQB:PBBSF) (the "Company" or "Peekaboo Beans"), is pleased to report that as a result of the Company's special sales events hosted in 4 cities across Canada, it has posted very strong revenue in a previously untested sales vertical during the last two weeks of June 2018.During the month of June, the Company hosted 4 weekend events, promoting...Read More
YOKOHAMA (Reuters) - Nissan Motor (7201.T) said on Monday it had improperly measured exhaust emissions and fuel economy for 19 vehicle models sold in Japan, the second case in less than a year where misconduct has been discovered in its inspection processes.Nissan said it had found sample test environments for emissions and fuel economy in final vehicle inspections at most of its factories in Japa...Read More
Chinese ferro-chrome prices plunged late last week after ferro-chrome smelters in the major production hub of Inner Mongolia restarted operations, while muted buyer interest and uncertainty weighed on cif China UG2 chrome ore and charge chrome indices. Spot domestic ferro-chrome prices drop in China Chrome ore and charge chrome cif China dip Alloys in South Korea and Japan unmoved&nbs...Read More
ZURICH, July 9 (Reuters) - Swiss commodities company Blackstone Resources completed its listing on the Swiss Six Exchange on Monday, debuting with a share price of 13.5 Swiss francs per share.The commodities holding and trading company listed 42.7 million bearer shares to broaden its shareholder base and enable it to raise money for future acquisitions in the battery metal market, it said in a sta...Read More
CloseGain/LossGold $1258.20+$3.10Silver$16.11+$0.08XAU83.28-0.56%HUI178.82-0.22%GDM629.59-0.50%JSE Gold1076.07-6.63USD94.10+0.09Euro117.47-0.03Yen90.26-0.29Oil$73.85+$0.0510-Year2.861%+0.037T-Bond145.15625-0.50Dow24776.59+1.31%Nasdaq7756.20+0.88%S&P2784.17+0.88% The Metals: Gold gained $10.80 to $1265.90 in London before it drifted back lower in New York, but it still ended with a gain of 0....Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort210,483132,15659,665172,917266,067443,065457,888Change from Prior Reporting Period 15,36513,7108,2311,316-49724,91221,444Traders18195964952273206 Small Speculators (C) GoldSeek.com LongShortOpen Interest 51,09936,276494,164 6794,14725,591 non reportable positionsChange from th...Read More
- Italy is EU's ticking timebomb as debt nears EUR2.4 trillion- Italy's GDP is just EUR1.85 trillion; National debt is 132% of economy- Italy is politically dysfunctional at best of times; Now has populist left / right wing government- National debt owed to other EU nations alone is 25% of its GDP- Italy's debt threatens global GDP; May wipe 0.4% off global GDP- Default to create contagion in...Read More
Metal Bulletin presents a timeline of key dates and events related to the manganese flake rally this year and the reasons behind the moves.Manganese flake prices are now trading at levels last seen in July 2012 amid ongoing production curtailments at major Chinese producer Ningxia Tianyuan, with the impact now spreading into the ferro-chrome and selenium markets. Metal Bulletin's assessment for in...Read More
Manganese ore and alloy prices ended their recent rally in China, after smelter restarts appeared to spell the end for alloy tightness. Chinese smelter restarts prompt downward correction in alloy prices Ore prices follow alloy lower Indian alloy prices rise on strong demand from east Asia European ferro-manganese prices drop on lower producer offers Manganese ore and alloy pr...Read More
Turkish deep-sea scrap import prices went down slightly on Monday July 9 with the news of a Baltic Sea cargo being sold last week.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (95:5) at $360 per tonne cfr on Wednesday July 4.After the news of this deal was heard, the daily scrap indices slipped on...Read More
Geological model of the Probe Metals Val d'Or East Project. Source Probe Metals Inc.Probe Metals Inc. [PRB-TSXV; PROBF-OTCQB] provided new results on Monday July 9 from the ongoing 85,000 metres drill program at its 100%-owned Val-d'Or East project near Val-d'Or, Quebec. Results from 42 drill holes, totaling 15,248 metres, were received and show continued expansion of the gold resource within the...Read More
Drilling at Viva Gold's Tonopah Project in western Nevada.Source: Viva Gold Corp.Viva Gold Corp. [VAU-TSXV; VAUCF-OTC], formerly - Aintree Resources, has provided initial assay results from the recently completed 11-hole reverse circulation (RC) drill program at its Tonopah gold project. The project is located on the prolific Walker Land Trend of western Nevada on the northeast side of the San Ant...Read More
Turkish domestic auto bundle (DKP grade) scrap prices have strengthened with improving demand over the past week, while ship scrap prices have only shifted sideways, sources said on Monday July 9.Alloy long steel producer Asil ??elik raised its buy price by TRY50 ($11) per tonne to TRY1,680 ($367) per tonne delivered, while long and flat steel producer ??olakoglu increased its buy price for auto b...Read More
Comex copper prices bounced back from a one-year low in US morning trading on Monday July 9, with a softer dollar and equity recovery supporting the base metals complex. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 2.15 cents or 0.8% to $2.8455 per lb. Last week, the red metal traded at the lowest point since July 2017. "The outlook across the...Read More
Some strength emerged in the three-month base metals prices on the London Metal Exchange on the morning of Monday July 9, with all of the metals posting gains that averaged 1% as at 7.06am London time.Volume has been above average with 10,063 lots traded. This follows a mixed performance on Friday, when nickel, lead, tin and copper prices dropped, while aluminium and zinc prices rallied. A large u...Read More