China, the world's largest copper consuming country, imported 4.69 million tonnes of unwrought copper in 2017, down 5.7% from a year ago, according to the latest customs data.The amount of unwrought copper brought into the country in 2016 was 4.95 million tonnes. The drop stands in contrast to the rising domestic copper production. For the first ten months...Read More
Gold COT Report - FuturesLarge SpeculatorsCommercialTotalLongShortSpreadingLongShortLongShort289,16185,87369,270150,099370,370508,530525,513Change from Prior Reporting Period 47,7337,7139,222-5,00537,66651,95054,601Traders17990854554263194 Small Speculators LongShortOpen Interest 46,92529,942555,455 2,77412354,724 non reportable positionsChange from the previous reportin...Read More
Gold bullion set for fifth week of gains as dollar slumps (Reuters.com)Asia Stocks Are Mixed as Euro Gains, Bonds, Gold Bullion Steady (Bloomberg.com)U.S. runs December budget deficit of $23 billion - Treasury (MarketWatch.com)Uproar over crackdown on cryptocurrencies divides South Korea (Reuters.com)Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul (Bloomberg.com)Bill Gross of Janus:...Read More
Happy Lohri, Makar Sankranti and Pongal to everyoneMonday US markets are closed. Traders will take positions for Tuesday. The hawkish European central bank meeting also supported gold prices. Next week, the Federal Reserve Beige book and US housing numbers will affect metals as well as currency markets. Traders expect a strong growth view from the Federal Reserve. If consumer price index numbers...Read More
Operations at Glencore's Pasar copper smelter in Philippines have been suspended since last week due to a technical failure, a source at the company confirmed to Metal Bulletin on Friday January 12. "There has been an equipment failure at the plant related to the cooler (and relevant controls have already kicked in) and operations have been suspended," the source said. It is not yet known when the...Read More
ABUJA, Jan 12 (Reuters) - Nigeria's central bank said on Friday it had injected $262.5million into the interbank foreign exchange market, extending efforts to improve liquidity and alleviate dollar shortages.The bank said in a statement it had released the funds for use by businesses in the agricultural and petroleum sectors as well as airlines.The bank said it would continue to intervene in the f...Read More
Mr. Robert Carrington reportsNEWRANGE FINDS NEW HOST ROCK UNITS WITH DEEP DRILLING AT PAMLICO GOLD PROJECT, NEVADA Newrange Gold Corp. has identified multiple new rock units favourable for hosting gold mineralizationin the Merritt target area at the company's 100-per-cent-controlled Pamlico project in western Nevada. In particular, the company has now verified quartz veining and silicification in...Read More
(Kitco News) - First Majestic Silver Corp. (TSX: FR; NYSE: AG) has agreed to acquire Primero MiningCorp. (TSX: P) in an all-stockdeal, the companies announced Friday.With the addition ofPrimero’s San Dimas silver-gold mine in Mexico, First Majestic said it anticipatescompany annualized silver-equivalent production of 27 million to 30 millionounces. First Majestic already operates six mi...Read More
Aerial view of the past-producing Sterling Gold Mine in southwest Nevada. Source: Northern Empire Resources Corp.Toronto investment firm M Partners has named Northern Empire Resources Corp.'s [NM-TSXV, PSPGF-USOTC] as its top exploration pick for 2018.In a Mining New Year Review that was published on January 9, 2018, M Partners said it is recommending the stock amid expectations that Northern Empi...Read More
Shares of Radient Technologies Inc. (TSXV:RTI) have surged more than 340% in the past six months, hitting an all-time high of $2.28 on January 9SmallCapPower | January 12, 2018: Radient Technologies Inc. (TSXV:RTI) shares climbed 16% on Tuesday after the Company provided an update on its operations and 2018 growth initiatives. Along with corporate updates, Radient Technologies announced real estat...Read More
Map depicting the various mineral properties of Columbus Gold's spin-out company, Allegiant Gold Ltd. Source: Columbus Gold Corp.Columbus Gold Corp. [CGT-TSX, CBGDF-OTCQX] on Friday January 12 said it has taken another key step towards the planned spin-out of its Western United States exploration assets into a new company, Allegiant Gold Ltd. The company said it has obtained conditional approval f...Read More
Aluminium foundry alloy tags inched up slightly in Europe this week but stayed flat in the United States. Market participants presented varying pictures of demand around the globe - it was said to be good in general but stronger for heavier vehicles, particularly in the US.12-Jan-2018 ...Read More
The TerraX Minerals core shack in the Northwest Territories. Source: TerraX Minerals Inc.TerraX Minerals Inc. [TXR-TSXV, TRXXF-OTC Pink, TXO FSE] said Friday January 12 it has struck a deal to acquire the Ptarmigan Mine property near the City of Yellowknife in the Canadian Northwest Territories.Ptarmigan is one of a number of former mines that historically made the Yellowknife area a major centre...Read More
SAO PAULO, Jan 12 (Reuters) - Brazil's securities regulator on Friday prohibited local investment funds from buying cryptocurrencies, making it the latest global markets watchdog to call for caution with the volatile asset.Cryptocurrencies cannot be considered financial assets, regulator CVM ruled, in effect barring funds from investing directly in assets such as bitcoin.Local funds interested in...Read More
Editor's Note: Updating earlier story with more details from report, current prices.(Kitco News) - Goldfutures pared overnight gains slightly after a Commerce Department report Fridayshowing that U.S. retail sales rose by 0.4% to $495.4 billion in December. Sales excluding autos were also up 0.4%.The headline number was slightly below consensusexpectations compiled by news organizations that had b...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices retreated on Friday, to around $78 per tonne, following weakness in China's steel market, and after the potential for supply disruptions as a result of a cyclone in Australia reduced significantly.Seaborne coking coal prices were firm at the end of the week, with fob Australia...Read More
(Kitco News)- Gold prices have fallen from their four-month highsfollowing stronger-than-expected U.S. inflation data.Friday,the U.S. Consumer Price Index rose 0.1% in December, after increasing 0.4% in November,the U.S. Labor Department said. According to consensus forecasts, economistswere expecting to see an increase of 0.1%.However,monthly core inflation, which strips out volatile food and ene...Read More
* GRAPHIC-2017 asset returns: * LME/ShFE arb: (Updates with closing prices)By Eric OnstadLONDON, Jan 12 (Reuters) - Zinc prices edged up to their highest in more than a decade on Friday, supported by potential shortages and low inventories, but some investors voiced concern about the lofty levels.Benchmark zinc on the London Metal Exchange climbed to $3,409 a tonne, the strongest since August 2007...Read More
Scrap prices in the world's major markets except the United States continued to strengthen in the week from Monday January 8 to Friday January 12 amid low supplies of material.Turkish steel mills resumed their deep-sea scrap bookings at the beginning of the week and have now booked three deep-sea cargoes from the Baltic Sea region.Turkey importsTurkish steel mills booked deep-sea cargoes from the...Read More
Cobalt 27 Capital Corp. (TSXV: KBLT; FSE: 27O) is a minerals company that offers pure-play exposure to cobalt, an integral element in key technologies of the electric vehicle and battery energy storage markets. The company holds physical cobalt and is also focused on growing a cobalt-focused portfolio of streams, royalties and direct interests in mineral properties containing cobalt. We learned fr...Read More