For months I watched the prices slowly tick higher.$100... $115... $130... $145...$30... $40... $50... $60...And then I gave up... “Forget it. I missed this one.”These were the prices over the last year of Albemarle (ALB) and Sociedad Qu?-mica y Minera (SQM), respectively - two of the largest lithium producers in the world during a period when the price of lithium doubled.Up until this...Read More
Nickel was the best performer on the London Metal Exchange at the close on Friday March 9, gaining more than 4%, with most of the complex ending the week on a high.The three-month nickel price recovered by $570 per tonne after a large 27,244-tonne cancellation at LME-listed warehouses this morning."Nickel is still enjoying overall bullishness that has been in place since it recovered from its June...Read More
Physical iron ore prices fell below the $70-per-tonne-cfr mark on Friday March 9 amid persistent losses in China's steel and futures markets.Key driversChina's ferrous futures recorded across-the-board losses for a third day. The benchmark iron ore contract continued to be the worst performer, with a 5.2% decline in comparison with the settlement price on Thursday. The contract closed at a 3.5-mon...Read More
Prices in the seaborne coking coal market gained more downward momentum on Friday March 9, with the number of offers continuing to outpace bids. "Sellers have visibly softened their attitude toward the prices of their cargoes since it is difficult to prop them up based on just the sole factor of the weather," an East Asian end-user source said. Although there are still "two to three more weeks to...Read More
Having clocked a weekly high/low of $1,340/$1,313, gold (XAU/USD) is set to end the week on a flat note at $1,322. So, the metal is creating a doji candle on the weekly chart, which indicates indecision in the marketplace. A bullish follow-through next week, i.e. weekly close above $1,340 would signal the pullback from the January high of $1,366 has ended at $1,303 (last week's low) and could...Read More
Newmont Mining is one of the rare gold stocks that is up year to date.There are a number of positive factors that favor Newmont Mining.The stock is a good "sleep well at night" way to get gold exposure. For outsized returns, search elsewhere.Recently, I've been searching for opportunities in the gold space. The reason for this is the major difference in price dynamics between gold (GLD)...Read More
Still no immediate-term buy signal for gold as sideways trend persists.Dollar index refusal to reverse its 6-week trend is the prime culprit.Gold mining stocks also still under control of the sellers.Gold prices were slightly lower on Thursday as the equity market strengthened along with the U.S. dollar index. Gold's brief thrust above its 15-day moving average on Tuesday was ephemeral as there wa...Read More
DRAM prices still on the rise in 1Q18: PC DRAM +6.9% QoQ, mobile DRAM +2.9%, server DRAM +3%.The price of server DRAM to continue to go up by 2-3% QoQ every quarter on robust demand from data centers.The price of mobile DRAM to continue to increase QoQ until 3Q1, helped by limited supply.Chinese penetration into memory semiconductor market not a real threat until 2020; maintain Overweight on the s...Read More
GOLD (in USD) Bearish breakout. Gold starts declining after reaching 1329. The pair is ready for another leg lower, approaching the 1310 range and hourly support given at 1300 (29/12/2017 low). Hourly resistance remains at 1348 (20/02/2018 high). Expected to show further declining moves. In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1&...Read More
The base price assessments for flat and long stainless steel products in Europe fell slightly this week, sources told Metal Bulletin on Friday March 9.The reason behind the declines was tough competition with imports from Asia, according to market sources."Offers from Taiwan are at least 10% lower than domestic prices [in Europe]," a trader said. "So if that situation is...Read More
The UK inter-merchant price range for austenitic alloy steel scrap has been largely unchanged over the past week while market participants wait for nickel prices to settle, sources said on Friday March 9.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-980 ($1,317-1,359) per tonne delivered on Friday, compared with ?950-990 per tonne delivered last...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsSwitzerland-based Tiberius Group is making a return to base metals trading under the helm of former TMT Metals head trader Arefe Khosravi, with a focus on refined aluminium, several industry sources have said. Unionized workers at Antofagasta's Los Pelambres mine in Chile have v...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellU.S. authorities have arrested Brian Robert Sodi, a penny stock tout also known as "Mailman," for a $1.1-million scheme to boost two OTC Markets companies. (All figures are in U.S. dollars.) The government claims that Mr. Sodi, with the help of an uni...Read More
After US President Donald Trump signed into law a 10% tariff on aluminium imports into the United States, premiums in the US saw some movement but European premiums were stuck waiting for more clarity on the trade measures. Market tentative, awaiting US tariff effect The US foundry alloy premium moved slightly higher following the formalization of Trump's tariffs on aluminium and steel imports - w...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for April delivery lost $1.03 to $60.12 on the New York Merc, while Brent for May lost 73 cents to $63.61 (all figures in this para U.S.). Western Canadian Select traded at a discount of $24.30 to WTI ($3...Read More
Nickel was the best performer on the London Metal Exchange at the close on Friday March 9, gaining more than 4%, with most of the complex ending the week on a high.The three-month nickel price recovered by $570 per tonne after a large 27,244-tonne cancellation at LME-listed warehouses this morning."Nickel is still enjoying overall bullishness that has been in place since it recovered from its June...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Thursday was a ho-hum 82-85-123. The TSX Venture Exchange fell two points to 829 while rough diamond prices were flat. Chris Taylor's Dunnedin Ventures Inc. (DVI) dropped two cents to 30.5 cents...Read More
Comex copper prices rebounded in morning trading on Friday March 8 in the United States after the publication of a jobs report that exceeded expectations.Copper for May settlement on the Comex division of the New York Mercantile Exchange recovered 3.4 cents or 1.1% to trade recently at $3.1130 per lb. Yesterday, the contract slid to the lowest point since February 12.This morning, the US non-farm...Read More
Unionized workers at Antofagasta's Los Pelambres mine in Chile have voted to strike, rejecting the latest offer for a collective labor agreement from the miner."Around 99% of the voting workers voted in favor of a legal strike," Federacion Minera de Chile treasurer Dino Saltori said in a statement on the organization's website.Antofagasta had offered improvements for miner benefits and a "salary r...Read More
The latest metal markets news and price moves to start the North American day on Friday March 9.The three-month nickel price on the London Metal Exchange regained $100 per tonne in morning trading, supported by a large cancellation of stocks at LME-listed warehouses. Most other metals were largely unchanged but under pressure.Here's how base metals prices looked at 12:20 London time:Read our live...Read More