StrengthsThe best performing metal this week was platinum, up 3.57 percent as money managers increased their bullish outlook and took their net long position to a 22-month high. Gold traders remained bullish on the price outlook for bullion even amid trade optimism early in the week, according to the weekly Bloomberg survey. Turkey's gold reserves rose $348 million from the previous week and a...Read More
Dave Kranzler, Mining Stock JournalGold and silver are set up potentially for an explosive move, fueled by the inevitable escalation of Central Bank money printing. The Federal Reserve has led the charge on this account over the last three months as the financial system has begun to veer off the rails.Currently, the Fed is printing money at the fastest rate in its history. The brown stuff is hit...Read More
RambusTonight I would like to update some commodities charts we haven't looked at in a while. There have been some subtle changes taking place that need to be addressed. Just like the PM complex that topped out in 2011 many commodities also topped out that same year and have been correcting ever since. With the US dollar at an important inflection point it may be time for commodities in general...Read More
By: Ira EpsteinGold weekly chart just below the resistance area, what to look out this week:Read More
Global political weather is such that financial markets will not sleep during Christmas and New Year weeks. Do not sleep in the next three weeks on your short term investment. Still anything can happen. If you are on a vacation or plan to go on a vacation for the next three weeks, then close very short term open positions in any future and options and ETF. If you are holding physical gold, any p...Read More
French ConnectionSuppressed CompetitionDo Hard ThingsReach Out & ListenVIP AccessChristmas in Puerto Rico, Pat Cox, and MoreWe choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, o...Read More
Chinese ferro-chrome producers cut their offers last week to generate cash, putting downward pressure on spot prices. Selling pressure weighs on Chinese spot domestic ferro-chrome marketCharge chrome, chrome ore prices flat in thin tradingEuropean ferro-chrome prices tick up on tight supplyUS market widens slightly lower in lackluster tradingThe Chinese spot domestic ferro-chrome price continued l...Read More
The domestic price of hot-rolled coil in Northern Europe was largely stable on Monday December 16 although steelmakers continue to insist on higher prices, market sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was calculated at ?,?431.88 ($480.14) per tonne on Monday compared with ?,?432.08 per tonne on Friday.The assessment is based on "...Read More
South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Fastmarkets' latest price assessment for steel hot-rolled coil import, cfr main ports South America, was $500-515 per tonne on Friday December 13, a three-month high and up fro...Read More
The gold price bottomed in late 2015 around $1,050 per ounce. It has since advanced to a high of $1,555 in early September, followed by a pullback to the current price of $1,470. Gold is in a well-defined uptrend channel with higher lows and recently higher highs. The breakout above $1,360 this summer was significant and we have seen follow-through buying. The $420 move in the price of gold from...Read More
The three-month prices of base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Monday December 16, emboldened by positive China data, while a weaker US dollar provided a consumption tailwind. "LME base metals three-month prices are stabilizing... there is a cautious optimism in the air," Fastmarkets research analyst Andy Farida said. "But a trade deal between...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 16 that are worth another look.South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Participants are taking a cautious approach to the aluminium market...Read More
The three-month prices of base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Monday December 16, emboldened by positive China data, while a weaker US dollar provided a consumption tailwind. "LME base metals three-month prices are stabilizing... there is a cautious optimism in the air," Fastmarkets research analyst Andy Farida said. "But a trade deal between...Read More
Seaborne iron ore prices were largely muted on Monday December 16, while uncertainty on air-quality related production cuts in Tangshan, China, caused a dip in Chinese futures during the day's trading session. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $94.04 per tonne, down $0.59 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $93.13 per tonne, down $0.59 per tonne. 62% Fe low-al...Read More
No deals were heard in the seaborne coking coal market on Monday December 16, though buying interest from China was reported to be steady.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $147.70 per tonne, unchangedHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $130.25 per tonne, unch...Read More
Turkish steel producers began the week by booking deep-sea scrap for shipment in February, sources told Fastmarkets on Monday December 16.A steel mill in northern Turkey booked a Baltic Sea cargo comprising 10,000 tonnes of HMS 1&2 (80:20) at $299 per tonne cfr, 15,000 tonnes of shredded at $304 per tonne cfr and 3,500 tonnes of bonus at $310 per tonne cfr.A steel mill in the Izmir region booked a...Read More
Seaborne prices of high- and low-grade manganese ore in China continued to strengthen during the week ended December 13 amid resumed buying interest, market sources said.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, rose by 5 cents week on week to $3.75 per dry metric tonne unit (dmtu) on December 13.Fastmarkets' index for manganese ore, 37% Mn, fob Port Elizabeth, also climbed by 5 cents...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 16 that are worth another look.South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Participants are taking a cautious approach to the aluminium market...Read More
Environmental, social and corporate governance (ESG) is no longer a niche concern in the natural resources sector.Corporate governance and community issues have typically dominated the sustainability and ethical criteria of mining companies and their investors. But more recently, the focus has shifted.Environmental factors, particularly decarbonization, have come to the fore amid increasingly stri...Read More
Participants are taking a cautious approach to the aluminium market in 2020, with poor downstream demand and low product premiums threatening already-tight margins in the industry.Premiums for downstream products such as aluminium billet in the United States and Europe are both at record lows, forced down by an absence of demand this year - a trend that is expected to continue. The demand drought...Read More