China's crude stainless steel capacity is expected to increase by 7.5 million tonnes per year to 44-45 million tpy by 2020, although there is some pessimism about mills' utilization rates, according to Zhang Zhifang, chairman of Chinese producer Taiyuan Iron & Steel. Production capacity of cold-rolled stainless steel in particular will increase in the short term, Zhang pointed out during his prese...Read More
Generalised mineralization block diagram of the Hod Maden gold deposit in Turkey. Source: Sandstorm Gold Ltd.Sandstorm Gold Ltd. [SSL-TSX, SAND-NYSE American] has released the results of a pre-feasibility study on its 30%-owned Hod Maden gold-copper project in northeastern Turkey.The study is based on proven and probable mineral reserves of 2.61 million ounces of gold and 129,000 tonnes of copper....Read More
Turkish steel mills have resumed their deep-sea scrap purchases with slightly lower prices, sources said on Wednesday June 27.A steel producer in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $353 per tonne and 5,000 tonnes of bonus at $368 per tonne cfr late on Tuesday June 26.Most market participants were expecting steel mills to resume buying...Read More
Comex copper prices were once again facing a bout of selling with a stronger dollar and the persistent threat of additional tariffs weighing on the red metal. Copper for September settlement on the Comex division of the New York Mercantile Exchange dipped 1.50 cents or 0.5% to $2.9770 per lb. The With trade tensions mounting, commodities continue to face pressure from macroeconomic instability, ty...Read More
33 trillion cubic feet.That's how much natural gas drillers extracted in the United States last year... every day!And it all started 193 years ago along the Canadaway Creek in Fredonia, New York. That's when a gunsmith by the name of William Hart drilled a 27-foot hole into the ground and kick-started our country's natural gas industry. After striking out twice already, his third well hit pay dir...Read More
Eastmain Resources (TSX:ER, OTCQX:EANRF) is a junior gold exploration company, with three main projects in the region of James Bay, northern Quebec: the Eau Claire Project, located approximately 800 kilometres north of Montr?(C)al, the high-grade Eastmain Mine Project, located within the Upper Eastmain River Greenstone Belt of northern Qu?(C)bec, and the Eleonore South Joint Venture with Goldcorp...Read More
Core Gold Inc. (TSXV: CGLD, OTCQX: CGLDF) is a Canadian based mining company involved in mining, exploration and development of mineral properties in Ecuador. Core Gold is currently focused on gold production at its wholly-owned Dynasty Goldfield project, located in Loja Province in southwestern Ecuador, and on continued development at its Zaruma mine, located in the Zaruma-Portovelo Mining Distri...Read More
June 27, 2018 (Investorideas.com Newswire) The common shares of Syd Financial Inc. have been approved for listing on the CSE. Listing and disclosure documents will be available at www.thecse.com on the listing date.Trading will commence upon completion of the financing.The Company is engaged in the acquisition, exploration and development of the Pluto Property in Quebec, Canada, along with continu...Read More
June 27, 2018 (Investorideas.com Newswire) Bob Moriarty of 321 Gold discusses the theory that there is a relationship between the full moon and the price of gold.For several months I have been beating the drum saying that there would be a tradable low for the precious metals in the June/July timeframe. The way to be fairly certain would be using the Commitment of Traders report and Daily Sentiment...Read More
June 27, 2018 (Investorideas.com Newswire) The CEO of Millrock Resources, Gregory Beischer, speaks with Maurice Jackson of Proven and Probable about the many projects his company is exploring.Maurice Jackson: Today we will highlight a company that has established itself as a premier project generator, Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQX). Joining us today is Gregory Beischer, the presi...Read More
June 27, 2018 (Investorideas.com Newswire) Metallurgical optimization and investigation of financing options are progressing at a cobalt project in Idaho.Vancouver-based eCobalt Solutions Inc. (ECS:TSX; ECSIF:OTCQX; ECO:FSE) provided the status of the optimized feasibility study (OFS) and the financing for its 100%-owned Idaho cobalt project. As for the OFS, metallurgical optimization testing cont...Read More
Most European steelmakers have increased their hot-rolled coil prices by ?,?20 ($23) per tonne this week, sources told Metal Bulletin on Wednesday June 27.The rises are expected to be supported by the impact of the preliminary findings in a European Commission safeguarding case, along with a lack of competitive import offers, according to market sources.The EC opened an in...Read More
The Italian authorities have postponed the takeover of steelmaker Ilva by ArcelorMittal until September 15, the minister of economic development, labour & social policies, Luigi Di Maio, said this week.Originally, ArcelorMittal expected to finalise the acquisition of Ilva by the end of the second quarter."I am evaluating every possible impact related to the decision I will have," Di Maio said.&nbs...Read More
China's domestic hot-rolled coil prices widened on Wednesday June 27 after trading activity picked up in the latter half of the day in response to lower offers, a situation that traders went on to capitalize on.DomesticEastern China (Shanghai): 4,220-4,250 yuan ($642-647) per tonne, widening by 10 yuan per tonneNorthern China (Tianjin): 4,120-4,160 yuan per tonne, widening upward by 20 yuan per to...Read More
Prices for rebar produced and delivered in Southern Europe widened upwards by ?,?10 per tonne over the past week, sources told Metal Bulletin on Wednesday June 27.Metal Bulletin's weekly price assessment for domestic rebar in southern Europe was ?,?475-500 ($555-584) per tonne delivered on Wednesday, up from ?,?475-490 per tonne one week earlier. The assessment includes offers and deals heard...Read More
Domestic prices for mesh-quality wire rod produced and delivered in both Northern and Southern Europe remained largely unchanged over the past week, sources said on Wednesday June 27.Metal Bulletin's weekly domestic price assessment for mesh-quality wire rod in Northern Europe widened downwards by ?,?5 per tonne on Wednesday at ?,?530-545 ($619-636) per tonne delivered, compared with ?,?535-5...Read More
Prices for domestic hollow steel sections narrowed in Northern Europe this week as mills prepared to push up prices, sources told Metal Bulletin on Wednesday June 27.Metal Bulletin's price assessment for commodity-size, grade-S235 square hollow sections made and delivered in Northern Europe narrowed by ?,?5 per tonne to ?,?640-650 ($747-759) per tonne delivered on Wednesday June 27, from ?,?6...Read More
Turkish steel mills have resumed their deep-sea scrap purchases with slightly lower prices, sources said on Wednesday June 27.A steel producer in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $353 per tonne and 5,000 tonnes of bonus at $368 per tonne cfr late on Tuesday June 26.Most market participants were expecting steel mills to resume buying...Read More
Iron ore prices remained largely rangebound on Wednesday June 27, though those for high-grade fines and lumps continued to strengthen.Metal Bulletin 62% Fe Iron Ore Index: $64.60 per tonne cfr Qingdao, down $2.02 per tonneMetal Bulletin 58% Fe Premium Index: $52.49 per tonne cfr Qingdao, down $0.28 per tonneMetal Bulletin 65% Fe Iron Ore Index: $90.60 per tonne cfr Qingdao, up $0.20 per tonneMetal...Read More
CloseGain/LossGold $1251.80-$7.10Silver$16.05-$0.25XAU79.93-0.69%HUI170.45-1.43%GDM607.67-0.74%JSE Gold1032.87+8.41USD95.34+0.63Euro115.56-0.91Yen90.79-0.16Oil$72.76+$2.2310-Year2.828%-0.052T-Bond145.21875+0.96875Dow24117.59-0.68%Nasdaq7445.08-1.54%S&P2699.63-0.86% The Metals: Gold edged up to $1259.90 at about 8AM EST, but it then drifted back lower into the close and en...Read More