BHP Billiton's Saskatchewan potash mine remains in a holding pattern.The Jansen Lake operation, about 135 kilometers east of Saskatoon, has been under development for several years.In a question and answer session Friday in Australia, Chief Financial Officer Peter Beaven said potash remains an attractive investment because there's more people, they need to eat, and the amount of arable land will e...Read More
NEW YORK (Reuters) - As a senior vice president at Wachovia and then Morgan Stanley during the dark months of the 2008 and 2009 financial crisis, Derek Peterson watched as colleagues lost their jobs and life savings and wondered if he was next.At the time, he was managing approximately $120 million in client assets, but was growing disenchanted with what he saw as a U.S. stock market driven by hig...Read More
Price slide continues Aluminium prices continue...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan on Tuesday said he has been assured that fellow Republican President Donald Trump is not considering firing U.S. Special Counsel Robert Mueller.FILE PHOTO: Special Counsel Robert Mueller leaves the U.S. Capitol Building after meeting with members of the Senate Judiciary Committee in Washington, U.S., June 21, 2017. REUTERS/Aaron P. Bernstein"The...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
(Kitco News) - Gold and silver prices were moderately lower in early afternoon U.S. trading Tuesday, pressured by a stronger U.S. dollar index on this day and some chart-based selling. Gold hit a three-week low, while silver prices notched a three-month low. April Comex gold futures were last down $7.10 an ounce at $1,310.70. May Comex silver was last down $0.165 at $16.16 an ounce.The marketplace...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
Crude steel output in Argentina grew 36.8% year on year in February, according to figures released by national steel association Acero Argentino on Tuesday March 20.Production amounted to 417,300 tonnes, up from 305,100 tonnes the year before.February's crude steel output also increased 21.4% from January's level of 343,000 tonnes.The month on month recovery is a result of the conclusion of mainte...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. The Federal Reserve Open Market Committee meets today and tomorrow to examine U.S. monetary policy.Oracle plunged $4.56 to $47.39 after reporting lower than consensus fiscal third quarter revenues. The company also lowered its guidance. Stifel Nicolaus downgraded the stock to Hold from Bu...Read More
Aluminium Aluminium prices continue to test underlying support after the...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts...Read More
LONDON (Reuters) - Global investors were crowded into so-called FAANG and BAT tech shares in March and continue to cling to equity holdings despite fears of trade wars and growth slowdown, Bank of America Merrill Lynch’s latest monthly survey showed on Tuesday.The survey of fund managers running $579 billion worldwide was conducted March 9-15 and showed that investors were likely heavily exp...Read More
SHANGHAI, Mar 20 (SMM) – Norilsk nickel in the Shanghai market traded at a discount of about 400 yuan/mt against the Wuxi Stainless Steel Exchange 1804 contract on Tuesday March 20, while Jinchuan traded at a premium at 0-100 yuan/mt, SMM learned.Jinchuan offered nickel plate at 101,700 yuan/mt.As nickel futures traded rangebound earlier in the morning, traders made offers actively due to am...Read More
SHANGHAI, Mar 20 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 220-190 yuan/mt on the morning of Tuesday March 20, SMM learned. This compared with discounts of 260-220 yuan/mt on the previous day's morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en...Read More
(Kitco News) - Holdings of gold by global exchange-traded funds have risen to a multi-year high, even if the price of the metal has gone the other way lately.Comex April gold was trading at $1,310 an ounce as of 8:30 a.m. EDT. The metal closed at $1,325 last Wednesday, before three straight days of large ETF inflows.Analysts suggested the price dip has encouraged buying of gold ETFs, as has nervou...Read More
SHANGHAI, Mar 20 (SMM)? 1/4 ?The zinc market in Tianjin saw more transactions on Tuesday March 20 as many local galvanising plants resume operations gradually after a round of environmental inspection was completed, SMM learned. The 0# common brand zinc traded at a discount of 50 yuan/mt to a premium of 20 yuan/mt against the SHFE 1804 contract, and at 50 yuan/mt higher than th...Read More
Listen to this podcast airing on our site by clicking here or subscribe on iTunes here.We're likely at the beginning of a sea change in the direction of interest rates and the overall bond market, and a recession on the horizon has important implications for bond investors.In our recent Big Picture episode, Financial Sense Newshour's Jim Puplava looks at where bonds are headed and w...Read More
Unable to break back above $7,000...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon...Read More
Base metals prices on the London Metal Exchange closed lower across the board on Tuesday March 20, with copper falling to a new 2018-low. The three-month copper price closed 1.4% lower and hit a low of $6,730 per tonne earlier in the day - the lowest since December 14, 2017. "This comes amid broad-based downward pressure across the industrial metals, chiefly owing to a weaker global risk appetite...Read More
SHANGHAI, Mar 20 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightExcept for SHFE aluminium, base metals edged down across the board under pressure from cautious sentiment ahead of the Federal Reserve’s meeting that will determine the hike in interest rates. LME copper and nickel fell close to 1%.The eurozone’s seasonally adju...Read More