China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on Monday September 23. The latest quota, permitting less shipments than in the previous three releases, brings the total volume of copper scrap imports allowed into the country in the second half of 2019 to 484,767 to...Read More

Turkish domestic scrap prices have gone down over the past week in response to the downturn in imported scrap values, sources said on Monday September 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,340-1,450 ($233-252) per tonne on Monday, down from last week's TRY1,400-1,575 per tonne.Following the decline in imported scrap values,...Read More

TIMMINS - Ontario's government is continuing to promote tourism in the province and supporting the francophone community in Timmins.Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced Centre culturel La Ronde is receiving $1 million through the Northern Ontario Heritage Fund Corporation (NOHFC) to build a new, modern 12,000-square-foot building on the site of its fo...Read More

Oil prices opened this week cooling off as the market digests reports that Saudi Arabia has already restored production to over 75% of capacity and will return to full output as early as next week following the drone attack on the nation's facilities on September 14.The strike on the Abqaiq and Khurais facilitates (some of the largest in the world) started massive fires and reportedly caused major...Read More

China's domestic hot-rolled coil prices rebounded on Monday September 23 with market participants expecting a supply drop due to production cuts, while exporters remained relatively conservative amid fierce competition from abroad.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($515-517) per tonne, up 50-60 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, up 40-60 yuan per tonneB...Read More

Marathon Gold Corporation (TSX: MOZ) is a Toronto based gold Company, rapidly advancing its 100%-owned Valentine Gold Project, located in central Newfoundland, one of the top mining jurisdictions in the world. To date, four gold deposits at Valentine have been delineated, including the large Leprechaun and Marathon deposits. We learned from Dr. Matt Manson, President and CEO of Marathon Gold, that...Read More

Troy Resources Limited (ASX: TRY) is a junior gold producer, operating the Karouni project in Guyana. We learned from Mr. Ken Nilsson, CEO and Managing Director of Troy, that they have been in existence since 1987, and are one of the longest survivors in their class of small to mid-cap producers. We learned from Mr. Nilsson that Troy has a number of exploration-stage prospects in Guyana including...Read More

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index shot up 16.8 points or 1.5% to 1147.71. The Index has now gained nearly 77 points and is on a 4-week winning streak.Its MACD histogram which remains locked in a multi-month sub-10 range, declined 1.75 points to 3.83. On the other hand, the MACD (b...Read More

China's rebar prices moved up on Monday September 23 after news broke that a few steelmaking regions would restrict production from this week. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($516-520) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,570-3,610 yuan per tonne, up 20 yuan per tonneLocal authorities in Tangshan are tightening steelmaking restrictions ahead of the countr...Read More

Offer prices for Turkish rebar to Singapore fell again in the week to Monday September 23, due to weak scrap prices....Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More

Turkish steel mills were still booking deep-sea scrap at stable prices at the start of the week while negotiations for further transactions continued, sources said on Monday September 23.A steel producer in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $233 per tonne, 4,000 tonnes of shredded at $238 per tonne and 4,000 tonnes of bonus at $243 per tonne cf...Read More

Turkish domestic scrap prices have gone down over the past week in response to the downturn in imported scrap values, sources said on Monday September 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,340-1,450 ($233-252) per tonne on Monday, down from last week's TRY1,400-1,575 per tonne.Following the decline in imported scrap values,...Read More

Seaborne iron ore prices increased on Monday September 23 following steel market gains, amid speculation there will be further restrictions on steelmaking in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.12 per tonne, up $1.56 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $94.51 per tonne, up $1.56 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.38 per t...Read More

Turkey produced 22.55 million tonnes of crude steel in January-August 2019, down by 10.46% from 25.19 million tonnes in the corresponding eight-month period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive...Read More

China's rebar prices moved up on Monday September 23 after news broke that a few steelmaking regions would restrict production from this week. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($516-520) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,570-3,610 yuan per tonne, up 20 yuan per tonneLocal authorities in Tangshan are tightening steelmaking restrictions ahead of the countr...Read More

Daniel R. Amerman, CFAOne of the most common reasons to buy gold is to use it as a stable store of value. This analysis uses 50 years of history to test that common belief, and finds it woefully lacking - for it misses the best parts of investing in gold.The graph above will be developed, and we will show that gold is instead a more sophisticated (and desirable) investment than most people reali...Read More

Dave KranzlerIt would be difficult to find a chart with a more bullish set-up than that of GDX unless it was a chart of the imminent move higher in the U.S. dollar money supply:The Fed was unable to move the Fed funds rate within 50% of the its long term average "normalized" level. It was also unable to unwind little more than 20% of the money it printed under Bernanke and Yellen, despite Bern...Read More

U.S. Overnight Repo Rate Source: www.tradingeconomics.com , www.stlouisfed.orgAs expected, the Fed cut the key banking rate another quarter point this past week to 1.75%-2.00%. It is the second cut this year. Expectations by many are for one more, but there are many who expect the Fed to be done for the year. The Fed as usual was ambiguous. If there is one more, we would not expect it to happe...Read More

Peter DegraafLong term trends take a long time to reverse. One such trend compares gold mining stocks to the S&P 500 stocks. From 2002 until 2011 gold mining stocks outperformed generic stocks, as can be seen in the following chart. (Charts courtesy Stockcharts.com)The trend unmistakably featured mining stocks ($HUI) over the S&P 500 stocks. From 2011 until recently, the trend...Read More