Shifting London Metal Exchange zinc and lead prices have dictated premiums this past week, overriding fundamental shortages from key suppliers. The LME zinc contract's backwardated forward curve has led to lowball offers from merchants in Italy, while a declining lead price has prompted buyers to come into the market in Southeast Asia for lead in the week to Tuesday November 26. Italy zinc pr...Read More
Bob Moriarty ArchivesNov 28, 2019In what many saw as a children’s book, The Wonderful Wizard of Oz, the author,L. Frank Baum actually was writing a political allegory.After passage of theCoinage Act of 1873the US mint was no longer required to process silver delivered to it into silver coins. Since vast amounts of silver had been discovered in the west starting with the Comstock Lode, unlimi...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday November 27 that are worth another look.Brazilian steelmaker Gerdau has agreed to buy 96.4% of Sider??rgica Latino-Americana (Silat) shares from Spanish group Hierros A????n for $110.8 million, in a shift from its divestment strategy of the past four years.Shifting London Metal Exchange zinc and lead prices have dictated premi...Read More
Speaking in London this week, Resource Capital Funds' Ross Bhappu, LinQ managing director Clive Donner and Tembo Capital principal David Street said prolonged under-investment in new supply capacity,Read More
The investment is being made in the Western Turner Syncline phase two mine (WTS2), part of the Greater Tom Price operations.The project comprises existing and new deposits, a new crusher and a 13km conveyer.The new conveyor system will help lower greenhouse gas emissions from the mine by 3.5% compared to road haulage.Rio said it was assessing additional options to reduce emissions including renewa...Read More
Bob Moriarty ArchivesNov 27, 2019I called for a pop in the price of White Gold whenI wrote about them two weeks ago. We got it. The shares were $.77 when I wrote and went as high at $.99 in short order.I compared WGO to Great Bear and in my view stated that I thought White Gold was better. Ina release on Tuesday Nov 26ththey seemed to have proved it. The hole showed 72.81 g/t gold over 6.09 meters...Read More
Vancouver, BC - good natured Products Inc. (TSX-V:GDNP) (the "Company" or "good naturedTM"), today announced its financial results for the three months ("Q3 FY19") and nine months ended September 30, 2019 ("YTD").Key Highlights:Revenues for three months ended September 30, 2019 increased 217% to $3,178,495 compared to $1,003,362 for the three months ended September 30, 2018. Revenues for the nine...Read More
An overview of the minor metals markets and their latest price moves.Read More
The impacts felt by the week-long strike resulted in costly disruptions for Canadian mining companies, many of which incurred significant impacts over the past seven days, including lost sales and customers.Given the mining industry is the most significant customer of Canada's Class I railways, consistently accounting for most (52.3% in 2018) of its rail freight revenues generated annually and is...Read More
Jordan Roy-Byrne CMT, MFTAThe precious metals sector remains in a correction. The miners have shown some positive signs but are not ready to move yet because the metals likely have more correction ahead.Technical support levels can provide us with low risk buy opportunities but combine that with sentiment data and we increase our odds of success.One reason why the sector is stuck in a correction...Read More
By: Ira EpsteinGold could see another wave to the downside if the low of yesterday does not hold:Read More
The range trade in gold and silver which has been there in November will be broken in December. Volatility will rise. A new trend should be formed in December. I expect the US dollar Index to crash. Brexit, US jobs numbers and actual signing of the US-China trade deal should be market mover or market shaker in December. Gold managed to trade over $1448 and needs to trade over $1448 to try and ri...Read More
Key data from the November 27 pricing session in London. Key drivers: - Cobalt prices continue to come under pressure while traders seek to destock ahead of the end of the year.- Spot inquiries are scant,...Read More
Turkish steel mills have started booking deep-sea scrap for January shipment at higher prices, sources said on Wednesday November 27.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 5,000 tonnes of a mixture of HMS 1, and plate and structural scrap (P&S) at an average price of $262.50 per tonne cfr late on Tuesday...Read More
Further positive signs of a phase one trade deal between the United States and China boosted sentiment across a broad selection of markets on Tuesday November 26, and that included most of the base metals, but so far today metal prices have generally been consolidating.US equity markets climbed to fresh highs on Tuesday after US President Donald Trump said the US and China are close to agreeing a...Read More
Key data from the November 27 pricing session in London. Key drivers: - Cobalt prices continue to come under pressure while traders seek to destock ahead of the end of the year.- Spot inquiries are scant,...Read More
Key data from the Wednesday November 27 pricing session in Shanghai. Key drivers The Chinese cobalt sulfate price broke the eight-week downward streak, holding on fresh restocking appetite and producer reluctance to sell at lower levels amid strength in the metal's futures market. The cobalt metal contract price on the Wuxi Stainless Steel Exchange rose by nearly 1% on Wednesday after b...Read More
Verge reported this week that Fiat Chrysler is shopping for EV tech from damaged startups like Faraday Future and Seres.Sounds about right.Fiat has actually been a laggard in the EV space, and former CEO Sergio Marchionne was responsible for much of this. The guy always had a problem seeing beyond the smoke screens of the antiquated internal combustion vehicle. In fact, back in 2014, he actually t...Read More
Most of us are looking forward to the new year.Millions of people will celebrate New Year's Eve watching a ball drop in Times Square, with tens of millions more gathered with close friends at home anxiously waiting to pop the cork off a bottle of champagne.Some, however, will be in a full-blown panic."There's going to be chaos on the very first day of the year, and NOBODY can see it coming."I was...Read More
Domestic prices for hot-rolled coil in Northern Europe were expected to rise due to restocking activity and lower availability in the spot market, sources told Fastmarkets on Wednesday November 27.Fastmarkets' latest weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?420-425 ($463-468) per tonne on November 27, unchanged over the week.The assessment was based on the lates...Read More