Seaborne coking coal prices moved higher on Friday February 21, in line with the general market direction since the second week of February.Fastmarkets indices Premium hard coking coal, fob DBCT: $159.20 per tonne, up $0.91 per tonne Premium hard coking coal, cfr Jingtang: $167.13 per tonne, unchanged Hard coking coal, fob DBCT: $141.63 per tonne, unchanged Hard coking coal, cfr Jingtang: $149...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe permitting issue in the Philippines saw copper sales more than halve to 6,900t while gold sales of 448,400 ounces in 2019 were also down on the 532,716oz sold in 2018.Read More
China's hot-rolled coil prices rose on Friday February 21, particularly in the northern region, which led exporters to raise their offers significantly.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($499-501) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,350-3,380 yuan per tonne, up 80 yuan per tonnePrices in Shanghai edged up, with trading activity rising day by day.But a trade...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe dispute concerns taxes paid by the Oyu Tolgoi copper-gold mine between 2013 and 2015.The dispute resolution provisions set out in the 2009 Investment Agreement (IA) and the 2015 underground mine development and financing plan with the Mongolian government call for arbitration under the United Nations Commission on International...Read More
The three-month nickel price on the London Metal Exchange was lower during morning trading on Friday February 21, with its price action now testing support at $12,500 per tonne, while a 14,000-tonne fresh cancelation failed to bolster copper's futures price.Nickel's outright price on the LME was recently at $12,575 per tonne, down some $165 per tonne from Thursday's closing price of $12,670 per to...Read More
China's domestic rebar prices rose on Friday February 21 amid strengthening futures and higher demand, which left some with the impression that the market had bottomed out.Eastern China (Shanghai): 3,420-3,450 yuan ($487-491) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,350-3,380 yuan per tonne, up 20-30 yuan per tonne DomesticMore end users have started working, though so far they...Read More
The equity markets barometer suggests concerns over the economic impact of the novel coronavirus (2019-nCoV) have picked up again over the past 24 hours, with Asian equities weaker this morning, Friday February 21, as are most of the metals.We said on Thursday that markets were focused on coronavirus developments more so than the impact to supply chains, but it seems that traders are now getting m...Read More
An overview of the Chinese minor metals markets in the week to Friday February 21 and the reasons for their latest price moves. Read More
The equity markets barometer suggests concerns over the economic impact of the novel coronavirus (2019-nCoV) have picked up again over the past 24 hours, with Asian equities weaker this morning, Friday February 21, as are most of the metals.We said on Thursday that markets were focused on coronavirus developments more so than the impact to supply chains, but it seems that traders are now getting m...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. Index futures were virtually unchanged following release of January Existing Home Sales at 8:30 AM EST. Consensus was a decline to 5.48 million from 5.54 million units in December. Actual was 5.43 million units.Royal Bank (RY $108.00 Cdn.) is expected to open higher after reporting high...Read More
Taiwanese ferrous scrap buyers were scrambling for both containerized and bulk cargoes from the United States and Japan due to materials being diverted to other countries in light of the low prices there.The higher freight costs faced by shippers have also reduced the quantities being offered by sellers.Meanwhile, Vietnamese buyers were not active in the market this week, looking to delay purchase...Read More
Looking to stem losses driven by high-cost operations, New Gold (TSX: NGD; NYSE-AM: NGD) recently tabled revamped life-of-mine plans for its Rainy River and New Afton mines focused on improving the bottom line and boosting profitability.The mine plan update was released along with the company's 2019 results that showed a US$74 million loss for the year or 12 ? per share. Although New Gold hit its...Read More
Seven straight sessions of gains lifted the gold price to a fresh seven-year high, after renewed fears of the coronavirus sent investors scurrying to safe-haven assets.The gold price touched a new intra-day high of US$1,652.10 on the Comex market in New York, up 2%, or US$32 per oz., from yesterday's settlement, and the highest level since mid-February 2013.By midday, trade already hit the highest...Read More
Coeur Mining (NYSE: CDE), the largest U.S.-based primary silver producer, is temporarily halting operations at its Silvertip silver-zinc-lead mine, located in Canada's northern British Columbia, due mainly to low prices for lead and zinc.The decision caused Coeur to book a US$251 million impairment charge on the underperforming asset, acquired from private investor Denham Capital in 2017 for up to...Read More
Newmont Mining (TSX: NGT; NYSE: NEM) and Teck Resources (TSX: TCK.B; NYSE:TCK) are injecting new life into their NuevaUni??n 50-50 joint venture in Chile by investing US$152 million into the project, located in the northern Atacama region.In an evaluation request filed with Chile's environmental evaluation service SEA this week, the companies said they plan to conduct two drilling campaigns this y...Read More
Anglo-American mining firm Lydian International called on the Armenian governmen...Read full newsRead More
Anglo-American mining firm Lydian International called on the Armenian governmen...Read full newsRead More
"$ORC - Orchid Island Capital, Inc. (ORC) CEO Robert Cauley on Q4 2019 Results - Earnings Call Transcript. https://t.co/2etigVn3nz #markets #finance #economy"Read full newsRead More
Armadale Capital (LSE:ACP) has reiterated its intention to deliver a definitive feasibility study ("DFS") for its Mahenge Liandu graphite project in the cu...Read full newsRead More
Thursday saw the price of gold reaching its highest level since early 2013. As a result, investors’ interest in gold stocks soared as they flocked towards Canadian junior gold miners to diversify their portfolio. Canada’s main stock index TSX also touched a new high on Wednesday, boosted by gains in energy and gold stocks. The materials sector, which includes precious and base metals...Read More