Share this articleVANCOUVER, GREAT ATLANTIC RESOURCES CORP. [TSXV.GR] is pleased to announce it has received analytical results for the fourth drill hole (GP19-140) completed during the 2019 Phase 1 diamond drilling program at its Golden Promise Gold Property, located within the central Newfoundland gold belt. The drilling program was conducted at the Jaclyn Main Zone. GP19-140 intersected a near...Read More
Share this articleTORONTO - Barrick Gold Corp. raised its dividend as it reported a fourth-quarter profit of nearly US$1.39 billion.The gold miner, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of seven cents per share, up from a nickel per share.The increased payment to shareholders came as Barrick earned 78 cents per share in the quarter ended Dec. 31 compar...Read More
While equity markets remain buoyant on optimism that the spread of the novel coronavirus (2019-nCoV) may be slowing, the base metals seemed more circumspect on Wednesday February 12 as they wait to see what the fallout from the virus will be in terms of how much disruption the manufacturing sector is suffering.LME base metals prices were up by an average of 0.2%; SHFE base metals prices were mixed...Read More
So you can't make any money in oil and gas anymore?When Jim Cramer said that, I imagine that quite a few investors nodded their heads in agreement.Those people were also the same ones who waited until oil topped $100 before they got their feet wet.They were also the first to buy shares of Tesla at $968.99 apiece.Let's see how that trade works out for them. But we can see why he took the most beari...Read More
Chinese battery materials producer GEM will prioritize delivering cargoes to overseas buyers in February amid the large-scale lockdown in Hubei province following the outbreak of the novel coronavirus (2019-nCoV), a company source told Fastmarkets. GEM's Jingmen plant is located in Jingmen city, Hubei province, which has been heavily affected by the coronavirus outbreak. The plant is unable to res...Read More
EU domestic prices for hot-rolled coil have increased day on day due to tight supply from European mills and a lack of competitive alternatives from overseas, sources told Fastmarkets on Wednesday February 12.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?476.21 ($519.73) per tonne on Wednesday February 12, up by ?,?2.64 per tonne from ?,?473.57 per tonn...Read More
Demand for aluminium and steel coil in China has come under strain while the novel coronavirus (2019-nCoV) crisis has allowed the gears of the country's automotive sector to grind to a halt.Many manufacturing plants across China - including those in the automotive segment - have paused operations in the past two weeks to February 12 after the government extended workers' Lunar New Year holiday to...Read More
China's domestic hot-rolled coil prices regained some losses on Wednesday February 12 after the country reported its lowest number of new coronavirus cases since late January, which generated some optimism about the outbreak being contained.DomesticEastern China (Shanghai): 3,510-3,520 yuan ($503-505) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,270 yuan per tonne,...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday February 12 that are worth another look.China may not be the big steady steel rebar buyer that most of us in the market thought it was, the International Rebar Producers & Exporters Association (Irepas) said on February 5 with regards the impact of the novel coronavirus (2019-nCoV).Major Chinese copper smelter Daye Nonferrous,...Read More
Gold will outperform the S&P 500 Index in 2020. That's one of several projections made by CLSA in its just-released "Global Surprises 2020" report.The Hong Kong investment firm has an impressive track record when it comes to making market predictions last year it had a 70 percent hit rate so it may be prudent to take this one seriously.CLSA's head of research Shaun Cochran: "If investors are con...Read More
David HaggithThere is, at least, one highly recognized economist who agrees with me that a recession started forming in the summer of 2019 and is still emerging, in spite of the Fed's strongest efforts to stop it David Rosenberg:We recall all too well the euphoria that followed the early 2001 and late 2007 Fed rate cuts and curve-steepening shifts, that then switched to malaise as the recess...Read More
Craig Hemke, TF MetalsAs you know, we've been following the palladium story for over two years now. It is very important to understand that this is NOT a speculative, COMEX story. Instead, this is a physical supply story that emanates from London. To that end, today let's review the COMEX data to see how The Banks are responding in this futures-only market.Let's begin with the chart below. This...Read More
By: Ira EpsteinGold has a lower highs and lower lows over the short-term. Choppy action. We are at the 18-dma, the battleground..Read More
Global manufacturers are waiting till end February to decide on their outsourcing strategy. If there is supply disruptions from China from March onwards then they will look to India and other Asian nations for their supplies. US economic numbers are not affecting gold price. Trend of all metals and energies on or after 18th February will be the key. China will fully reopen by then. There will be...Read More
The price difference between scrap and rebar for Turkish mills in January this year was at its narrowest since January 2019, the International Rebar Producers & Exporters Association (Irepas) said on February 5.In fact, compared with January 2019, the spread had only ever been smaller in January 2017, according to Irepas' outlook statement.Turkish producers were also trying to widen the spread, wh...Read More
The price of steel mesh-quality wire rod was unchanged in Europe while market participants waited to see how the monthly European ferrous scrap prices would settle, sources told Fastmarkets on Wednesday February 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, remained at ?,?460-470 ($502-513) per tonne on February 12, the fourth conse...Read More
Turkish deep-sea scrap import prices have increased sharply with improving demand from the country's steel mills, sources said on Wednesday February 12.A steel mill in the Izmir region has booked a US cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $268 per tonne, 12,000 tonnes of shredded at $273 per tonne and 4,000 tonnes of bonus at $278 per tonne cfr. It was not clear whether this deal w...Read More
Seaborne iron ore prices remained firm on Wednesday February 12 following an announcement by Vale that it expects lower production for the quarter ending on March 31.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.68 per tonne, up $0.75 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.01 per tonne, up $0.75 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.93 per tonne, up $0.7...Read More
Prices for ferrous scrap in the Mexican domestic market were down in four grades and stable in five other grades in the week ended Friday February 7, with consumers attempting to reduce prices but meeting resistance from sellers.At least two scrap consumers in the region around the city of Monterrey announced price cuts for several grades last week, in the range of 100-150 pesos ($5-8) per tonne.M...Read More
The mood in the CIS export billet market had turned positive by the middle of the current week amid a rebound in import scrap prices in Turkey.Some CIS mills returned to the market after taking a wait-and-see position at the end of last week, and were now testing it with higher offers.CIS billet was...Read More