Seaborne iron ore prices retreated on Tuesday November 20 amid weakness in the steel and ferrous futures markets.MB 62% Fe Iron Ore Index: $74.65 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.84 per tonne cfr Qingdao, down $1.46 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $79.22 per tonne cfr Qingdao, down $0.58 per tonne.MB 58% Fe Premium Index: $64.34 p...Read More
Buyers and sellers in the seaborne coking coal market remained on the sidelines on Tuesday November 20 to monitor the effects of Chinese import restrictions that came to the fore last week.The National Development & Reform Commission has put a stop to cargoes clearing customs at ports other than their actual destinations as well as the purchase of imported coal that are loaded before December 15....Read More
The Singapore Exchange (SGX) will launch high-grade iron ore swaps and futures contracts on December 3. Here is a summary of the contracts' specifications:Name: SGX MB Iron Ore cfr China (65% Fe Fines) SwapsTicker symbol: M65Contract size (one lot): 500 metric tonnesTrading hours (Singapore time)*: T session: 7.25am-8.00pmT+1 session: 8.00.01pm-4.45amLast trading day: 7.25am-8.00pmNote: After the...Read More
China's ferrous futures fell during morning trading on Tuesday November 20 amid bearish sentiment that had spilled over into the physical steel markets in recent weeks, sending domestic prices downward. Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,769 yuan ($543) per tonne, down 67 yuan per tonneJanuary hot-rolled coil: 3,588 yuan per tonne, down 13 yuan per...Read More
Base metals on the London Metal Exchange were predominantly lower during morning trading on Tuesday November 20, with most metals trading in narrow ranges while global trade tensions and depleting LME stocks deter investors. Falling furthest over the morning, copper shed 0.5% of its three-month price over the morning, but remains well supported above $6,200 per tonne due to a recent slew of stock...Read More
Members of the European Parliament (MEPs) and the European Union Council of Ministers have reached a provisional agreement on a limit for cadmium content in phosphate fertilizers sold within the EU.Under the agreement, which has yet to be confirmed by the full European Parliament and Council of Ministers, cadmium content should be capped at 60 milligrams per kilogram of fertilizer from the d...Read More
Chinese buyers have been reluctant to commit to long-term contracts for cobalt raw materials for 2019 during this year's mating season, Fastmarkets has learned.Year-long or multi-year commitments are traditional, but Chinese buyers now intend to purchase cobalt raw materials, including concentrates and hydroxide, on a spot basis, because there is adequate spot supply and because their profit margi...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets MB.Unless otherwise stated, all prices are per lb on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price quotation, click here.To see all Fastmarkets pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.htm...Read More
Jittery stock markets and ongoing disappointment over United States/China trade developments continued to put either a cap on the base metals - the exception being tin that broke higher at the start of this week - or keep them under pressure, in the likes of nickel and aluminium.The three-month base metals prices on the London Metal Exchange were on divergent paths this morning, Tuesday November 2...Read More
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It is very difficult to pick exact bottoms but there are many tools we can use to help us pinpoint potential bottoms.You don't hear technical analysts talk about fundamentals but we do for a reason. Major shifts in the primary trend are supported by fundamental shifts, though they can be very hard to spot until after the fact.Because of our extensive study of history, we are convinced that preciou...Read More
The gold sector has been under pressure for seven years, but contrarian investors are looking at recent developments in the industry and thinking it might be time to start kicking the tires on some of the beaten-up stocks.Let's take a look at Barrick Gold (TSX:ABX)(NYSE:ABX) to see if it deserves to be on your buy list for 2019.ConsolidationHigh-quality gold deposits are becoming harder to find, a...Read More
It is very difficult to pick exact bottoms but there are many tools we can use to help us pinpoint potential bottoms.You don't hear technical analysts talk about fundamentals but we do for a reason. Major shifts in the primary trend are supported by fundamental shifts, though they can be very hard to spot until after the fact.Because of our extensive study of history, we are convinced that preciou...Read More
A recent MarketWatch article notes that:GE was one of Wall Street's major share buyback operators between 2015 and 2017; it repurchased $40 billion of shares at prices between $20 and $32. The share price is now $8.60, so the company has liquidated between $23 billion and $29 billion of its shareholders' money on this utterly futile activity alone. Since the highest net income recorded by the comp...Read More
A recent MarketWatch article notes that:GE was one of Wall Street's major share buyback operators between 2015 and 2017; it repurchased $40 billion of shares at prices between $20 and $32. The share price is now $8.60, so the company has liquidated between $23 billion and $29 billion of its shareholders' money on this utterly futile activity alone. Since the highest net income recorded by the comp...Read More
The exploration camp for IDM Mining's development stage Red Mountain gold project east of Stewart, northwest British Columbia. Photo by Ellsworth Dickson.IDM Mining Ltd. [IDM-TSXV; IDMMF-OTCQB] said Wednesday November 21 that it has expanded the underground drilling program at its development stage Red Mountain gold project east of Stewart, northwest British Columbia.The company said it has added...Read More
Exploration activities at the Pebble Project in Alaska. Source: Northern Dynasty Minerals Ltd.Northern Dynasty Minerals Ltd. [NDM-TSX; NAK-NYSE] shares advanced on Wednesday November 21 after the company declared a small win in its fight to develop the giant Pebble gold-copper project in Alaska.The company said its Pebble Limited Partnership (PLP) subsidiary has finalized a right-of-way agreement...Read More
Old King Coal was a dirty old soul, and a merry old soul was he... until a decade ago.I know my readers know this tale better than most.In 2008, coal, natural gas, and petroleum accounted for more than 83% of our total energy consumption.Coal and oil, however, held very similar monopolies on two sectors: transportation and electric power.Approximately 91% of our coal consumption was for electricit...Read More