"War" and "pensions" are conceptually about as different as it's possible to be. But - in a measure of how far into Crazy Town we've wandered - they're both taking the world in the same direction. If a Middle East (or Asian!) war doesn't spike oil prices and push the global economy into recession, then pensions will probably produce the same end result. Here's an excerpt from a much longer New Y...Read More

By Keith WeinerBack in the drug-soaked, if not halcyon, days known at the sexual and drug revolution the 1960's many people were on a quest for the "perfect trip", and the "perfect hit of acid" (the drug lysergic acid diethylamide, LSD). We will no doubt generate some hate mail for saying this, but we don't believe that anyone ever attained that goal. The perfect drug-induced high does not exist...Read More

Russian stocks and the ruble rose after a report that President Trump would not extend more economic sanctions on Russia, despite earlier comments from Nikki HaleyContinue...Read More

Turkish steel producers continued their deep-sea scrap purchases for May on Monday April 16 but the prices have gone down slightly following the latest bookings, Metal Bulletin has heard.A steel mill in the Iskenderun region booked a European cargo, comprising 12,000 tonnes of HMS 1&2 (75:25) at $342 per tonne and 12,000 tonnes of bonus at $362 per tonne cfr, late on April 13.Another steel mill in...Read More

SHANGHAI, Apr 16 (SMM) – Trading in the spot cobalt and lithium market saw much movement during the week that ended Friday April 13, SMM learned.Traded prices of cathode material products remained flat from last week as the slower-than-expected downstream consumption weighed on prices upstream.SMM sees downward room in prices of lithium salt in the second quarter of the y...Read More

- Global debt bubble hits new all time high - over $237 trillion- Global debt increased 10% or $21 tn in 2017 to nearly a quarter quadrillion USD- Increase in debt equivalent to United States' ballooning national debt- Global debt up $50 trillion in decade & over 327% of global GDP- $750 trillion of bank derivatives means global debt over $1 quadrillion- Gold will be 'store of value' in coming e...Read More

A senior Israeli military official admitted to NYT columnist Thomas Friedman that Israel targeted the Iranian drone command center at the T4 air Continue...Read More

Turkish domestic ship scrap prices have slightly increased with the latest uptick in imported scrap costs, while auto bundle scrap prices have remained comparatively steady over the past week, sources said on Monday April 16.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market was $341-352 per tonne delivered, widening upward from last week's...Read More

SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More

Iron ore prices retreated on Monday April 16 on thin trading amid China's weakening steel and futures markets.Metal Bulletin 62% Fe Iron Ore Index: $63.93 per tonne cfr Qingdao, down by $1.03 per tonneMetal Bulletin 58% Fe Premium Index: $52.09 per tonne cfr Qingdao, down by $0.28 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81 per tonne cfr Qingdao, down by $1.20 per tonneMetal Bulletin 62% Fe...Read More

SHANGHAI, Apr 16 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendDespite airstrikes in Syria by the US, UK and France, the US dollar index edged up slightly and closed at 89.78 on Friday April 13 as trade tension eased and the Federal Reserve Board’s March meeting took a aggressive stance.Most base metals rose but saw...Read More

He has spent 18 years at the company, first as CFO and then as CEO in the past five years, and will leave at the end of August.Prior to his stint at AngloGold, Venkat was CFO of Ashanti Goldfields. At Vedanta, he will succeed the interim CEO Kuldip Kaura, who took over when previous CEO Tom Albanese stepped down at the end of August last year.AngloGold noted under Venkat's lead...Read More

CIS export billet prices remained largely unchanged in the week ended Monday April 16 amid reduced buying activity in the major outlets.Some market participants expected more price declines in the near term, because of the uncertainty in the scrap market."The market [for steel billet exports] will soon fall to $505 per tonne fob Black Sea," one trader said.Meanwhile, some sources expected the mark...Read More

Last year the company said it was targeting 33-41Mt at 0.13-0.17% cobalt and 0.45-0.65% copper from an 11km zone.Read More

China's domestic rebar prices retreated amid thin trading on Monday April 16 due to losses in the futures market. Domestic Eastern China (Shanghai): 3,650-3,700 yuan ($582-590) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,640-3,680 yuan per tonne, down 20-30 yuan per tonne Rebar futures declined throughout the day, which led to a deterioration of sentiment and lower prices in the...Read More

The same hole hit a further 145.5m at 1.11% CuEq from 288m that remained open at depth. Another drill hole intercepted 31.37m at 2.03% CuEq from 99m, where the hole entered Regulus ground. The company has an 18,000m drilling programme underway, in collaboration with neighbouring gold miner Compañía Minera Coimolache SA, and is aiming to provide a "robust updated resource" b...Read More

RAPAPORT... De Beers has terminated the sightholder status of Gitanjali Gems following fraud allegations against the Indian jeweler's managing director,Mehul Choksi. De Beers took the decision in February, meaning Gitanjalican no longer make any purchases from the company, a spokesperson for the roughproducer confirmed in a statement to Rapaport News Monday. "De Beers has introduced more rigorous...Read More

On production of just under 80,000 ounces of gold in 2017, Shanta brought in EBITDA of US$37.7 million (a 24.5% drop on 2016) and an after tax profit of $4.2 million (compared to an $8 million loss in 2016).Read More

SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More

PERTH (miningweekly.com) – Diamond miner Lucapa has reported a 10% increase in production during the March quarter, with 4 507 ct recovered during the three months under review.Lucapa told shareholders that 58 special diamonds were recovered during the quarter under review, which was a 53% improvement on the previous quarter. These recoveries included two stones of more than 100 ct each.Adve...Read More