ROME (Reuters) - Italy’s euroskeptic League claimed the right to lead a new government on Monday, telling investors they should have no fear of it taking office after an inconclusive election gave its center-right alliance the largest bloc of votes.The country faces a prolonged period of political instability after voters delivered a hung parliament on Sunday, spurning traditional parties an...Read More
"Once the retail public sees $1,400 gold, you'll see an onslaught of investors coming back to the space, and I think from there, it's a pretty big springboard that's been pushed down in the last six years."Read More
Iron ore prices fell on Monday March 5 after China's ferrous futures weakened across the board.Metal Bulletin's 62% Fe Iron Ore Index Today: $77.03 per tonne cfr QingdaoDaily change: down by $1.31 per tonneMonth-to-date average: $78.25 per tonneMetal Bulletin's 58% Fe Premium Index Today: $60.78 per tonne cfr QingdaoDaily change: down by $0.89 per tonneMonth-to-date average: $61.50 per tonneMetal....Read More
While silver is completely off the radar to most investors, it will turn out to be one of Continue...Read More
BERLIN (Reuters) - Chancellor Angela Merkel said on Monday she would work with France to tackle pressing issues such as trade policy, the war in Syria and competition with China after the Social Democrats (SPD) approved joining a coalition with her conservatives.Merkel welcomed the vote by a clear majority of SPD members that ended more than five months of political deadlock after an inconclusive...Read More
By Avi Gilburt Each week, I believe the silliness being espoused as to what moves the market reaches a climax. Yet, the following week somehow always proves me wrong.Two weeks ago, I noted how the pundits claimed the market dropped because of rising rates, but when the market rallied, the same pundits claimed that it was rallying because of rising rates.Around the same time, these same pundits t...Read More
CIS export billet prices continued to climb in the week ended Monday March 5, supported by strong demand in most sales outlets as well as reduced availability of material and rising scrap costs.Metal Bulletin's export CIS Billet Index was $534 per tonne fob Black Sea on March 5, up by $14 per tonne week-on-week. This took the index to its highest value since January 2013, according to Metal Bullet...Read More
LONDON (Reuters) - World shares slipped for the fifth straight day on Monday and emerging markets weakened sharply, hit by the prospect of a global trade war and political instability in Europe after Italy’s inconclusive weekend election.While most markets stabilized after sharp losses early in the day, assets considered low-risk - including gold, the yen and German bonds - remained in deman...Read More
Vancouver, BC - March 5, 2018 - Zinc One Resources Inc. (TSX-V: Z; OTC Markets: ZZOF; Frankfurt: RH33 - "Zinc One" or the "Company") is pleased to provide an update on the current drill program at its Bongar? Zinc Mine project located in north-central Peru. As previously reported (see Company news release dated December 13, 2017), the Peruvian Ministry of Energy and Mines approved 124 drill pl...Read More
China's domestic rebar prices moved down further on Monday March 5 on futures losses. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($630-638) per tonne, down 50-60 yuan per tonne Northern China (Beijing): 4,050-4,080 yuan per tonne, down 50 yuan per tonne A weak futures market led to bearish sentiment, and this, coupled with soft demand, pushed down spot prices. Hig...Read More
COLORADO SPRINGS, CO., March 05, 2018 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company") announced today that it will hold its annual meeting of shareholders at 8:00 a.m. Mountain Time on Friday, June 22, 2018 at Embassy Suites located at 10250 East Costilla Avenue, Centennial, CO 80112. Gold Resource Corporation is a gold and silver producer, developer and...Read More
(Reuters) - Wall Street looked set to open lower on Monday as investors remained concerned about the increasing likelihood of a global trade war following President Donald Trump’s threat to impose hefty tariffs.Trump on Monday appeared to suggest that Canada and Mexico could win exemptions to the planned sweeping tariffs on steel and aluminum if the two countries sign a new NAFTA trade deal...Read More
The Chinese ferro-silicon market dropped on Friday March 2, with one major tender signaling a slower return in demand from Chinese consumers after the recent national week-long holiday. Chinese steel tenders signal shift in demand Other consumer markets also dropped European market moves sideways, eyes March business US steady on reduced imports Chinese domestic ferro-silicon pr...Read More
A little heat has gone from the market for battery materials but the sector's very much still on the boil.Last week cobalt quoted on the LME retreated from 9-year peaks to finish below $80,000 a tonne for the first time since mid-January. But the price of the metal – now constituting less than 50% of global cobalt production – is still up 64% compared to March last year.Lithium carbona...Read More
Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand. Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade mangane...Read More
LONDON (Reuters) - The euro edged up from the day’s lows but remained weaker on Monday as an inconclusive election in Italy pointed to prolonged political uncertainty after right-wing and eurosceptic parties did better than expected.Italy’s election verdict and the subsequent brief sell-off in currency and bond markets showed that political risks in the eurozone were back on investors&...Read More
The Italian election will have an impact on the euro and will also affect decision making among Eurozone members. Merkel gets a fourth term in Germany. I do not foresee a sustainable government in Germany. Merkel's pro migrant chant will reduce if she needs to stay in power. Even new Italian leaders will support the need to take in less migrants. Less migrants implies less chaos and lawlessness...Read More
TORONTO (Reuters) - Lundin Gold Inc has a hearty appetite for growth even as the Canadian miner focuses on building its first mine in Ecuador on time and budget, Chief Executive Ron Hochstein said on Sunday.“We want to grow to be an at least 1-million-ounce-a-year producer with three to four operations,” Hochstein said in an interview with Reuters at the Prospectors and Developers Asso...Read More
The zinc market is making a U-turn.The market shot up over the past two years, but is now in retreat. Prices have tumbled 8 percent since a peak in mid-February. On Monday, the losses deepened after data from the London Metal Exchange showed the biggest increase in inventories in almost three decades.Click here for more on the jump in zinc stockpilesHere's why the delivery matters for the global z...Read More
SHANGHAI, Mar 5 (SMM) – Nonferrous metals futures on the SHFE dropped for the most part today except for tin, which inched up slightly. Zinc fell over 2%, aluminium slid over 1%, while copper and lead edged down.Ferrous metals fell across the board with iron ore leading the slump and closing 4% lower. Coke dropped over 2%, rebar and hot-rolled coil slipped over 1%, and coking coal fell sligh...Read More