Physical iron ore prices stayed rangebound on Monday May 7 amid weakness in the steel markets.Metal Bulletin 62% Fe Iron Ore Index: $67.26 per tonne cfr Qingdao, up by $0.98 per tonne Metal Bulletin 58% Fe Premium Index: $55.56 per tonne cfr Qingdao, down by $0.06 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.30 per tonne cfr Qingdao, up by $0.40 per tonneMetal Bulletin 62% Fe China Port Pri...Read More
About a year ago, Argentina - which has inflated away and/or defaulted on its currency every few decades for the past century - issued 100-year government bonds.Continue...Read More
JOHANNESBURG (Reuters) - Seven miners were killed at Sibanye-Stillwater’s Masakhane mine while six others are recovering in hospital after being trapped underground for two days, the company said on Saturday.A total of 13 miners had been trapped at the mine located in its Driefontein operations west of Johannesburg on Thursday after an earthquake caused a cave-in, in a country that is home t...Read More
The stock touched a record high of $100.73 on May 2Yoga apparel concern Lululemon Athletica Inc. (NASDAQ:LULU)stock is trading higher this morning, after receiving a price-target raise to $104 from $96 from Deutsche Bank -- in uncharted territory. LULU shares are now poised to close back above their 20-day moving average, after pulling back from record highs on Friday. Lululemon stock was up 1% a...Read More
Ferrous futures in China posted further gains during morning trading on Monday May 7 amid spot price increases and China opening up iron futures on the Dalian Commodity Exchange to overseas traders last Friday.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,679 yuan ($578) per tonne, up 44 yuan per tonneOctober hot-rolled coil: 3,765 yuan per tonne, up 44 yuan p...Read More
Greg has appeared on most every financial-focused television channel, and has been a regular in the past on several specific financial market television shows. Continue...Read More
President and CEO Trent Mell said the 2018 drilling programme would continue targeting 15 areas with historic mines but the Kerr area was now a high priority for exploration.Among the latest highlights, 4.6m at 0.27% cobalt included 1.8m at 0.56% cobalt and 0.47% copper.The company also intercepted 8m at 31g/t silver in the same vein network which highlighted "the potential for undi...Read More
SHANGHAI, May 8 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index climbed up towards 93 overnight, hitting a fresh high this year as the market maintained an upbeat outlook on the US economy and anticipated the Federal Reserve Board’s interest rate hikes. It closed at 92.76, up 0.22%.Most SHFE metals fell with nic...Read More
LUSAKA, May 7 (Reuters) - Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals with a tax bill of over 76.5 billion Zambian kwacha ($8 billion), its revenue authority said on Monday.First Quantum, which owns two copper mines in Zambia, said in March that Zambia's tax agency had demanded the taxes, saying they were on import duties, pena...Read More
BEIJING, May 7 (Reuters) -* China gold reserves were at 59.240 million fine troy ounces at end-April, unchanged vs end-March, the central bank said on Monday. (Reporting by Beijing Monitoring Desk; Editing by Sunil Nair) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of info...Read More
LUSAKA, May 7 (Reuters) - Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals FM.TO with a tax bill of over 76.5 billion Zambian kwacha ($8 billion), its revenue authority said on Monday.First Quantum, which owns two copper mines in Zambia, said in March that Zambia's tax agency had demanded the taxes, saying they were on import duties...Read More
The FDA approved PLENVU, which is partially developed by the VRX subsidiaryShares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) are up 2.6% to trade at $18.49, after the Canada-based drugmaker said the Food and Drug Administration (FDA) had approved PLENVU -- a bowel cleanser used to prep patients for colonoscopies -- which is jointly developed by VRX subsidiary Salix Pharmaceuticals and Norgine....Read More
The demand for gold is rising, but new discoveries of the yellow metal have not kept pace with the demand. Continue...Read More
Photo: Agreement signing attended by (from left) Ivanplats Managing Director Dr. Patricia Makhesha (standing); Ivanhoe Chief Financial Officer Marna Cloete (seated); Municipal Technical Director William Nkuna; Acting Municipal Manager Marcus Mthombeni; and Mogalakwena Mayor Andrina Matsemela. (Image from Ivanhoe Mines Ltd.)MOKOPANE, South Africa, May 07, 2018 (GLOBE NEWSWIRE) - Robert Friedland,...Read More
SHANGHAI, May 7 (SMM) – Nonferrous metals futures rose for the most part on Monday May 7 as SHFE zinc led the gains with an increase of nearly 2.3%. Lead grew 2%, aluminium and nickel inched up, and copper went flat. Tin dipped slightly.The ferrous complex saw coking coal surge almost 4%. Coke gained over 2%, while hot-rolled coil and iron ore inched up. Rebar went down slightly.Copper: The...Read More
* China’s FX reserves fall by $17.97 bln in April* Economists had expected reserves to drop by about $10 bln* Stronger dollar seen depressing value of reserves (Adds FX regulator, analyst comments)By Kevin Yao and Fang ChengBEIJING, May 7 (Reuters) - China’s foreign exchange reserves in April fell more than expected, to a five-month low, as the U.S. dollar rebounded and on growing sign...Read More
Several Fed speakers are on tap todayDow Jones Industrial Average (DJI) futures are trading well above fair value, as stocks look to build off the momentum from Friday's tech rally. Attracting attention today are surging oil prices, with June-dated crude futures up 1.3% at $70.62 per barrel -- trading near levels not seen since 2014 -- ahead of this Saturday's deadline for U.S. President Donald...Read More
China's domestic rebar prices dropped on Monday May 7 following falls in the billet market over the weekend. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($629-637) per tonne, down 50-60 yuan per tonneNorthern China (Beijing): 3,890-3,940 yuan per tonne, widened down 20 yuan per tonneBillet prices dropped sharply during the weekend on high selling interest, which prompted rebar traders to c...Read More
Goldman Sachs and Citigroup are weighing in favorably on MCD sharesMcDonald's Corporation (NYSE:MCD) is 1% higher in electronic trading, after Goldman Sachs added the stock to its "conviction buy" list and set a $185 price target, saying the pullback in MCD shares presents a buying opportunity. Citigroup also weighed in bullishly, expecting the fast food company's transition to fresh beef to resul...Read More