Stocks extended their short-term consolidation on Friday, as investors continued to hesitate following Tuesday-Wednesday move down. The broad stock market failed to continue its rebound from February 9 low last week despite technology stocks reaching new record highs. There are still two possible future scenarios. Or maybe three, but the third one is the worst.The U.S. stock market indexes were mi...Read More
The Chinese ferro-silicon spot market has stabilized losses in the past week, with support coming from magnesium production - a sizeable consumer of ferro-silicon. Chinese spot market halts downward drift but ample supply may drag in near term Europe prices stable, awaits second quarter settlements US market eases, but low stock levels offer support Chinese prices steady Chinese domes...Read More
CloseGain/LossGold $1316.80+$3.20Silver$16.33UNCHXAU78.66-0.06%HUI171.11-0.03%GDM599.54+0.17%JSE Gold1061.67+10.85USD89.87-0.34Euro123.38+0.51Yen94.23-0.09Oil$62.06-$0.2810-Year2.852%+0.007T-Bond145.3125-0.125Dow24610.91-1.35%Nasdaq7344.24-1.84%S&P2712.92-1.42% The Metals: Gold dipped $6 to $1307.60 in Asia before it jumped up to $1319.60 in early afternoon New York trade and then drifted...Read More
The discount of gem-quality, lab-created diamonds, manufactured for use in jewellery, relative to natural diamonds has doubled from 11-20% a year ago to 28-40% today, according to a survey of prices. Paul Zimnisky* Will the future of diamond production be in the lab, as opposed to the mine?19 MARCH 201819/03/2018commentsshareArthur G. Graham, Avakash Patel and Grant Malensek...SPONSOREDRoscoe pos...Read More
Exchange-traded-fundinvestors appear to be using the recent pullback in gold and silver prices as abuying opportunity, says Commerzbank. The ETFs trade like a stock but track theprice of the commodity, with metal moving in and out of storage as necessary toback the shares. The bank says ETF investors, who tend tohave a longer-term horizon than speculators in the futures market, “have seizedt...Read More
Strong global economic fundamentals can limit the rise of gold and silver. Whenever the focus moves away from global economic fundamentals like a Russia-UK/US spat etc. gold and silver will rise. Gold and silver will zoom if there is any clear indication of three interest rate hikes by the Federal Reserve (two after this week's hike). I am hyper bullish in gold and silver on or after July. There...Read More
Huge amounts of zinc ingots from Spain, both new and old stock, continue to enter the Chinese market after a significant inflow last year, which is leading to inventory build-up and depressed premiums, market participants have told Metal Bulletin.For the first month this year, Spain remained the biggest supplier of refined zinc to China, providing one-quarter of the total of 67,111 tonnes imported...Read More
Portugal's secretary of state for energy, Jorge Seguro Sanches wants to re-energise the country's push to be a central part of Europe's future EV battery and auto-manufacturing supply chain and believes an upcoming public tender for 3,600 square kilometres of ground considered prospective for pegmatite and lepidolite lithium can help.Richard Roberts Drilling at the disputed Sepeda lithium property...Read More
Since its inception, Cannabis Wheaton Income Corp. (TSXV:CBW) has developed its streaming platform by funding numerous cannabis facilities/partners across CanadaSmallCapPower | March 19, 2018: Cannabis Wheaton Income Corp. (TSXV:CBW) Thursday announced that it has entered an agreement with Ontario-based R&D firm Honest Inc, part of Province Brands of Canada, the first global brand offering pro...Read More
Imported charge chrome prices outperformed Chinese ferro-chrome on Friday March 16, after the domestic market took a poor view of demand from the stainless sector. Charge chrome holds firm in ChinaChinese domestic ferro-chrome prices weakenAlloy prices holding in Japan, South KoreaUS alloy prices steadyEuropean spot prices weaken Charge chrome prices strengthened in China on Friday, supported by...Read More
The new cry for metals is “Help!I have fallen and can’t get up.” Across the board, metals are taking a beatingand need the alert button as they call for help. Gold, copper and silver areall at the bottom end of trading ranges and could be in danger of breaking downhere as we wait for Wednesday’s Fed decision.Interestingly enough, thesuppression of the dollar by the Fed and...Read More
Renewables could be a major part of all off-grid mining power sources, energy company Total EREN says after opening a solar plant next to Iamgold's (CN:IMG) Essakane gold mine in Burkina Faso. Burkina Faso president Roch Marc Christian Kabor?(C) (centre) toured the US$25 million project last week with IAMGold CEO Steve Letwin (on the right)19 MARCH 201819/03/2018commentsshare A Total EREN and Afri...Read More
(Adds quotes, CEFC statement)By Jan LopatkaPRAGUE, March 19 (Reuters) - Chinese officials have told a visiting Czech delegation that the chairman of Chinese conglomerate CEFC China Energy, Ye Jianming, is under investigation and is stepping down from his post, the Czech president’s office said on Monday.A Czech subsidiary of CEFC also said there was a “planned change in the shareholder...Read More
The Klondex Mines Fire Creek gold mine in Lander, County, Nevada. Source: Klondex Mines Ltd.Under the offer, Klondex shareholders will receive US$2.47 per share in cash or shares of Hecla, marking a 59% premium to Klondex's 30-day volume weighted average prices as at March 16, 2018.On Monday, Klondex shares jumped 60.56% or C$1.09 to $2.89. The 52-week range is $6.45 and $1.66.CI Investments and S...Read More
Manganese ore prices showed early signs of weakness in the latest pricing session after alloy smelters continued to protest the recent rally, launching aggressive bids. Low-grade ore prices dip amid aggressive smelter bidsHigh-grade ore prices keep risingSpot silico-manganese prices weaken in ChinaAlloy prices hold in Europe and IndiaUS refined manganese alloys bolstered by shipping issues Mangane...Read More
BERLIN (Reuters) - Germany believes there is a chance that the European Union and the United States could avoid a dispute over planned U.S. tariffs on steel and aluminum imports from morphing into a wider trade conflict, its economy minister said on Monday.“Both Secretary Ross and I have the impression that decisive talks will take place this week and that it is possible to reach a solution...Read More
VANCOUVER - Hecla Mining Co. says it's buying Vancouver-based gold miner Klondex Mines Ltd. for $605 million with a mix of cash and shares.Idaho-based Hecla will gain control of Klondex's Fire Creek, Midas, and Hollister underground gold mines in Nevada, while Klondex will spin out its True North mining operations in Manitoba into a new entity for existing shareholders.Hecla says its focus is h...Read More
Rye Patch Gold's Florida Canyon Mine looking northwest. Source Rye Patch Gold Corp.Under the arrangement, each common share of Rye Patch will be exchanged for 0.48 common shares of Alio Gold.The offer values Rye Patch at $128 million, or $1.57 per share, marking a 35% premium based on the 20-day volume weighted average trading price of Alio Gold and Rye Patch shares during the period ended March 1...Read More
Cobalt prices have consolidated their move last week to more than $40 per lb, amid increased spot demand for metal against a backdrop of tight supplies, a limited number of sellers, and strong downstream demand."The days of sub-$40 [per lb] buying are history," a trader source said on Monday March 19.High-grade cobalt prices were assessed at $41.70-43.00 per lb, in-warehouse, on March 16. This was...Read More