The Brazilian government has started a review of its anti-dumping duties on imports of heavy plate from China, Ukraine, South Korea and South Africa.The duties, which were due to expire in October, will remain in place until the conclusion of the review, according to an announcement by the country's foreign trade secretariat, Secex, published in the Brazilian official gazette o...Read More
The iron ore market remained at a standstill on Wednesday October 3 with China still halfway into its Golden Week, even as the Australian government published its forecast of a gradual drop in imports of the steelmaking raw material by the world's biggest consumer.Metal Bulletin 62% Fe Iron Ore Index: $69.24 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.27 p...Read More
Supply disruption, strong demand, multi-year prices highs and subsequent supply responses have meant for another year of price swings and volatility across many of the minors metals, ores and ferro-alloys markets. And now, with LME Week and contract negotiating season coming around again, players must contend with Trump administration tariffs on imports of a number of China produced goods, includi...Read More
The depreciation of the South African rand since early August has sparked a debate in the chrome ore market over whether South African suppliers should be expected to cut offers prices into China. Chrome ore buyers in China have been anticipating lower offer prices for chrome ore, arguing that the rand depreciation means South African producers are earning more in their own currency when they sell...Read More
The recent uptick in traded option volatilities in the London Metal Exchange copper market has faded as the month-end draws near, while what is likely to be an unexciting August expiry this Wednesday looks like setting a marker for the rest of the summer. Front-month at-the-money (ATM) copper volatility has dipped back to just under 20%, having climbed above 26% on August 19 - the best since early...Read More
Oct 6 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events ------------------------------------------------...Read More
(Adds background on National Security Adviser Bolton)By Timothy GardnerWASHINGTON, Oct 5 (Reuters) - The Trump administration is actively considering waivers on sanctions it will reimpose next month for countries that are reducing their imports of Iranian oil, a U.S. government official said on Friday.The administration withdrew from a deal over Tehran's nuclear program in May and is unilaterally...Read More
NEW DELHI, Oct 6 (Reuters) - India may be forced to delay selling its stake in Axis Bank Ltd AXBK.NS because of a weak stock market, The Economic Times newspaper reported on Saturday, citing unnamed market sources and an investment banker aware of the development.India was planning to raise 70 billion rupees ($950 million) by selling 4 percent of its stake in Axis Bank by early November, the new...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
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Last month was a very difficult period for junior gold miner Continental Gold Inc. (TSX:CNL). Aside from the negative effect of weaker gold on its share price, the company was rocked by tragedy after suffering two separate attacks on its employees over the course of September 2018, in which four people died.These incidents, combined with intense media speculation over the security situation in the...Read More
Low cost uranium mining giant Cameco Corp (TSX:CCO)(NYSE:CCJ) is battling to survive the prolonged dip in the oversupplied uranium market, but there is new hope among contrarian investors on the stock as recent supplier collaborative efforts are beginning to yield some fruit.Two important factors favour the prospect of a sustained recovery on Cameco stock, one being the latest favourable tax court...Read More
By Steve St. AngeloOne of the worst things for an over-heated and extremely leveraged economy is rising interest rates. So, with the recent 2-2.25% interest rate, big trouble is on the horizon, Also, with higher interest rates, the U.S. Treasury will have to fork out even more money to service its debt. In just a little more than two years, the U.S. Fed Funds Rate jumped by nearly 2%.This...Read More
Hyperloop Transportation Technologies showed off the futuristic-looking capsule capable of carrying 30 to 40 people at a time.Continue...Read More
Continue...Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agr...Read More
You know by now that I think gold is above all acommodity, and in a bubble that was more extreme than stocks… a bubble that’s beenbursting since September 2011, but…Gold and bitcoin are two examples ofbubbles bursting that are NOT following my bubble model as well as most. Both,thus far, are basing out at higher levels than I expected. I still see gold...Read More
By Steve St. AngeloOne of the worst things for an over-heated and extremely leveraged economy is rising interest rates. So, with the recent 2-2.25% interest rate, big trouble is on the horizon, Also, with higher interest rates, the U.S. Treasury will have to fork out even more money to service its debt. In just a little more than two years, the U.S. Fed Funds Rate jumped by nearly 2%.This...Read More
RAPAPORT... The Responsible Jewellery Council (RJC) has entered into acollaboration that, it claimed, will significantly increase the volume ofartisanal-mined gold in the market. The organization signed a memorandum of understanding with theSwiss Better Gold Association, the Better Gold Initiative for ASM (artisanalsmall-scale miners), and the Max Havelaar Foundation (Switzerland) forFairtrade. U...Read More
RAPAPORT... Sales of jewelry and other luxury items rose in greaterChina in August amid continued positive local demand and increased tourism toHong Kong. In China, retail sales of gold, silver and jewelry grew 14% yearon year to CNY 24.3 billion ($3.54 billion) for the month, the National Bureauof Statistics of China reported recently. Meanwhile, Hong Kong recorded a jump of 22% to HKD 7.53billi...Read More