Fresh USD buying, positive European equities weigh negatively Exposed to more downside risks ahead of the US data dump Gold futures on Comex stalled its tepid recovery mode and fell back into the red zone, hitting fresh one-week lows of $ 1321.70 before recovering slightly to $ 1324 levels, where it now wavers. The yellow metal remains under pressure for the third straight session, as easing U...Read More
Higher lows since late 2015.Close to a breakout level.A bullish key reversal.The technical levels that gold will face.Silver needs to validate gold.For the third consecutive year, the price of gold is higher as the first quarter comes to an end than it was at the end of the previous year. In 2015 gold ended December at $1060.50, and by the end of Q1 2016, the price was trading at the $1233.40 per...Read More
Abraham Jonker is interim CEO.Bonifacio, NCU's founder, retired earlier this month but is staying on the board as a non-executive director. He was credited with being an integral figure in the recently announced US$378 million recapitalisation and financing of the company, setting it up to move forward rapidly with plans to complete underground development and move into production next year.NCU ha...Read More
Investing.com - Gold prices were wallowing at one-week lows on Thursday, after sharp falls in the previous session on a rally in the dollar after data showing faster U.S. economic growth and hopes for a diplomatic breakthrough with North Korea.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange slid $1.3 or 0.1% to $1,323.30 a troy ounce by 04:27 AM ET (08:27...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for May delivery gained 56 cents to $64.94 on the New York Merc, while Brent for May gained 74 cents to $70.27 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WT...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Thursday was a so-so 79-76-135. The TSX Venture Exchange regained 12 points to 796 while polished diamond prices edged higher. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC) gained fou...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold gained $0.60 to $1,325.00 on Thursday. The TSX Venture Exchange regained 12.45 points to 796.67 while the TSX Gold Index rose 2.54 points to 186.58. Most Canadian gold miners rebounded today, led by Premier Gold Mine...Read More
Prices in India for local secondary steel billet have increased by about 100 rupees per tonne in the current week, with demand for both semi-finished and finished products remaining steady and the number of inquiries rising toward the weekend.On Thursday March 29, prices for Indian domestic secondary billet, mainly produced through the induction furnace route, were 32,700-32,900 rupees ($503-506)...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange rallied 12.45 points to 796.67 Thursday, but it ended the month down 32.45 points. Shabir Premji's first capital pool shell, P Squared Renewables Inc. (PSQ: halted), is planning to acquire a clean energy compan...Read More
The latest news and price moves to start the Asian day on Friday March 30.Base metals prices on the London Metal Exchange were split into two camps at the close on Thursday March 29, with the market shutting down for a long Easter weekend. Read more here in our live futures report.Here are how LME prices looked at Thursday's close:The European secondary aluminium market is said to be in a sta...Read More
Gold on Wednesday suffered its biggest one-day loss since February to settle at a one-week low, reacting to a firmer dollar as it deepened a pullback from the more than one-month highs seen earlier this week. April gold GCJ8, +0.06% fell $17.80, or 1.3%, to settle at $1,324.20 an ounce-its lowest finish since March 21. The dollar and percentage decline was also largest since Feb. 20. The moves fo...Read More
Refining charges (RCs) for imported blister copper continued to climb in China in March on ample stocks and softened demand for refined copper. The RC for 98-99% blister copper rose to $230- $250 per tonne on a cif basis on Thursday March 29, with spot deals of African brands reported to be close to $240 per tonne. This compared with the blister copper RC assessment of $200-$210 per tonn...Read More
Representatives of major international mining companies active in the Democratic Republic of Congo (DRC) have submitted a formal proposal to the country's Ministry of Mines that they say is designed to address their concerns about the recently-revised mining code as well as the government's revenue needs. Among other things, the proposal includes linking a sliding scale of royalty rates to the pri...Read More
Comex copper prices staged a modest rally in the US morning on Thursday March 29, with investor sentiment turning positive following a softer dollar and easing geopolitical tensions. Copper for May settlement on the Comex division of the New York Mercantile Exchange rose 3.75 cents or 1.3% to $3.0395 per lb. Geopolitical tensions are lessening, leading to a pick-up in investor appetite for the met...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday March 29* Copper -$101.07 (-636.79 yuan) Aluminium -$337.76 (-2,125.62 yuan) Zinc -$126.54 (-797.32 yuan) Nickel -$624.42 (-3,934.35 yuan) *The physical arbitrage numbers...Read More
Metal Bulletin is hosting a free web seminar on Thursday April 5 at 9am London time to discuss the key drivers of the battery raw materials markets, including substitution risk, electric vehicle policy, and supply of lithium, nickel and cobalt. Date Thursday April 5 Time 9am London time Join members of our global battery raw materials team as they discuss: - EV subsidies and government policy in C...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices recovered to $65 per tonne cfr China on Thursday March 29, despite limited physical trading in China, after reaching $63 per tonne on Wednesday.Fortescue Metals Group (FMG) has revised its guidance for the prices it expects to realize for iron ore sold in the year ending June 30, amid su...Read More
An explosion occurred at a Brazilian steelworks operated by producer Companhia Sider??rgica Nacional (CSN) earlier this week, but it took no victims and will have no effect on production, the company has said.A "strong reaction" occurred at the steel mill in the company's flat steel production unit in Volta Redonda, in the country's south-eastern Rio de Janeiro state, on Tuesday March 27, accordin...Read More
Measures taken in conjunction with the safeguard case against a number of imported steel products in the EU will have a negative impact on Europe's independent distributors, sources have told Metal Bulletin.The European Commission (EC) launched a safeguard case into 26 carbon and stainless steel products imported into the EU on March 26. The EC claims that the investigation was started to prevent...Read More
Import prices for flat steel goods brought into South America have all decreased this week, under pressure from trade tensions between China and the United States, which strongly affected the Chinese domestic market earlier this week.The import market in the region was also affected by reduced buying interest."[Chinese mills] were trying to sell volumes at any cost," a Chile-focused steel trader s...Read More