U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 2 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US75.11 cents following release of January Canadian Housing Starts at 8:15 AM EST. Consensus was an increase to 202,000 from 197,300 units. Actual was 213,200.Restaurant Brands International gained $4.14 to US$68.00 after reporting...Read More
China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonneA Shanghai-based trad...Read More
China's domestic rebar prices were mixed on Monday February 10, with those in the eastern region holding steady while the northern Chinese market tumbled on weak demand.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,460-3,480 yuan per tonne, down 80 yuan per tonneAfter an extended break implemented by local authorities to contain the spread of...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday February 8.Key driversChina Fastmarkets' assessment of the price of antimony, MMTA standard grade II, ddp China was unmoved following a lack of liquidity and absent market participants after the Chinese New Year holiday break was extended (January 24-February 2). Many suppliers stayed out of the market in the week to Febru...Read More
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Minor metals producer Vital Materials has acquired specialty chemicals company Lanxess' organometallics business, Vital said on Friday February 7. The plant located in Pyeongtaek, South Korea, produces high-purity gallium, indium and aluminium-based metalorganic sources including trimethylgallium, trimethylaluminum, triethylgallium and trimethylindium. The organometallics are used for the manufact...Read More
Swiss miner-trader Glencore has signed a five-year deal - from 2020 until 2024 - to supply South Korean battery manufacturer Samsung SDI with 21,000 tonnes of cobalt contained in hydroxide, Glencore said on February 10.Glencore produces cobalt hydroxide at its Katanga mine in the Democratic Republic of Congo (DRC) - slated to produce about 29,000 tonnes of cobalt in intermediates this year. Glenco...Read More
The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.There is still much uncertainty around the impact of the Wuhan coronavirus (2019-nCoV), but with more businesses returning to work in China this week, we might get a better feel for...Read More
Xiamen Xiangyu Group and Jiangsu Delong Nickel Industry Co's Indonesian stainless steel joint venture last week began hot tests on production facilities with the capacity to produce grade-304 stainless steel billet at a rate of 600,000 tonnes per year. The company, which is officially known as PT Obsidian Stainless Steel,...Read More
Miner and commodities trader Glencore (LSE: GLEN) has signed a five-year deal to supply South Korean battery manufacturer Samsung SDI with up to 21,000 tonnes of cobalt amid an expected boom in demand for the metal.The agreement will see the Swiss firm send the equivalent of 45% of its 2019 cobalt production, or about 63% of its expected total output for 2020, to Samsung.Glencore produced 46,300 t...Read More
The S&P/TSX Composite Index rose 1.95% to 17,655.50. The S&P/TSX Global Mining Index fell 0.67%% to 78.49 and the S&P/TSX Global Base Metals Index rose 3.35% to 98.30. Spot gold fell US$18.50 per oz. or 1.17% to finish at US$1,570.00 per oz., and the S&P/TSX Global Gold Index lost 3.37% to finish at 257.62.Aura Minerals surged $20.34 to $46.85 per share on media reports that it is planning on a du...Read More
The S&P/TSX Venture Composite Index fell 0.18% to 574.16 and gold finished the week at US$1,570.00 per oz., down US$18.50 per ounce.Revival Gold jumped 27 ? to 88 ? after the junior released an updated resource for its Beartrack-Arnett project in Idaho, with substantial growth in the inferred resource category. The latest estimate features updated numbers for the Beartrack portion as well as an in...Read More
The Dow Jones Industrial Average rose 3.0% to 29,102.51 and the S&P 500 advanced 3.17% to 3,327.71. Spot gold fell US$18.50 per oz. to finish the trading week at US$1,570.00 per oz.Arch Coal rose US$4.16 to US$55.69 per share. The company reported a net loss of US$8.6 million or US57 ? per diluted share in the fourth quarter of 2019, compared with net income of US$86.1 million or $4.44 per diluted...Read More
Copper production in Chile, the world's No. 1 producer of the metal, dropped by 44,000 tonnes, or almost 0.8%, last year compared to 2018, amid a perfect storm of falling ore grades at the largest deposits, water scarcity and operational issues.The country's copper commission Cochilco said Codelco, the state-owned giant, was the miner most affected by ageing mines, as its production declined by 5....Read More
Uncertainty over the coronavirus outbreak - which has sickened 43,103 people in 25 countries and left 1,018 people dead (all but two of them in mainland China) - has economists and analysts trying to calculate the economic impact of the disease on commodities, trade and supply chains and global economic growth.UBS economists expect the current coronavirus outbreak, which originated at a market in...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesCase study: platform financeSPONSOREDminexiaThe same questions were asked here last November when it was pointed out that while Barrick had performed well since it merged with Randgold...Read More
Zinc prices lurched on Monday to their lowest since July 2016 after a surge in i...Read full newsRead More
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Bullion has many advantages for long-term investors, experts say. But for those who want to bet on the current rally, gold-mining stocks may be preferable.Read full newsRead More
Bullion has many advantages for long-term investors, experts say. But for those who want to bet on the current rally, gold-mining stocks may be preferable.Read full newsRead More